Farmer's Food Dollar Down and Farm Loan Interest Rates Rise Sharply
**National Farmers Union President Rob Larew says the farmers’ share of the Thanksgiving food dollar stayed low.
Larew says, corporate profits and consumer food costs continue to go up, but the farmers’ share of the food dollar remains low.
He says the average retail price of turkey is $1.99 a pound, and the farmers’ share of that is six cents.
Mega-consolidation in the food sector has resulted in uncompetitive supply chains and underpaid farmers.
**A broad coalition of energy and ag groups wrote a letter to Congress asking for help resolving inconsistent fuel volatility regulations.
Specifically, the groups expressed support for legislation that would result in equal regulatory treatment for all gasoline blends containing 10% ethanol or more.
Such legislation would permanently remove the regulatory barrier making it difficult for retailers to offer summertime E15.
Without the fix, the groups see gasoline marketplace uncertainty and political disputes over E15 every summer.
**Farm loan interest rates increased sharply during the third quarter.
The Federal Reserve Bank of Kansas City says despite high borrowing costs, farm real estate values continued higher with slower growth.
Following consistently higher increases earlier in 2022, the value of farmland in most Districts grew at a slightly slower pace during the third quarter.
Farm income and credit conditions also remained strong, but improvement was limited.