California Wildfire Insurance and Data Shows Few Bright Spots for Export Sales
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Wildfires that raged across California over the past several years have devastated farms.
After the flames were extinguished, the threat of wildfires continued to cost farmers in other ways, as farmers in parts of the state saw premiums on their property insurance policies rise exponentially.
Last week, the California State Senate passed legislation that seeks to increase affordable insurance options for farms exposed to wildfire risk.
Senate Bill 505 now moves to the state Assembly.
**There are few bright spots in latest USDA weekly export sales numbers, for the week ending May 11th.
www.agrimarketing.com reports, beef exports were up modestly on the week and larger than average, with Japan, South Korea, and China leading the way.
Pork was also above a week ago, with nearly half of that to Mexico.
Soybean oil was also higher than the prior week, but lower than average.
www.agrimarketing.com/s/145307
**The House Ag Committee’s Appropriations Subcommittee passed its fiscal year 2024 agriculture funding bill.
The National Farmers Union says the legislation includes harmful provisions that would prevent USDA from completing a long-awaited Packers and Stockyards Act rule to protect family farmers and ranchers from abuses by the meat industry.
Chris Gibbs, president of Rural Voices USA, says it’s hard to watch lawmakers who largely represent rural America gut funding for those same communities.
