University of Florida Olive Research Grants and Cattle Inventory Down 3%
**Most of the world’s olives grow in southern Europe, and in the U.S., California has more than 30,000 acres of olives. But Florida may be ready to join the party.
Lorenzo Rossi, a native Italian involved in olive production in rural Tuscany, tells www.morningagclips.com, be believes olives may be a good prospect for Florida growers.
The University of Florida recently approved a nearly $70,000 grant for Rossi’s research proposal.
The Florida Olive Council is contributing $5,000.
**USDA’s January 1 cattle inventory report puts the total number of cattle and calves at 89.3 million head, consistent with the expected 3% decline from the year before.
This as cattle producers face a fourth straight year of contraction within the cattle cycle, approaching inventory lows last seen at the start of the current cycle, when producers began rebuilding following the 2012 drought.
Beef production is anticipated to be off 6.5%.
**The Purdue University-CME Group Ag Economy Barometer Index rose again in January, to a reading of 130, four points above its 2022 year-end value.
The January results also pushed the index 34% above its 2022 low point, from last June.
January’s modest rise was primarily attributable to better expectations for the future as the Future Expectations Index rose five points to 127 while the Index of Current Conditions changed little from December.