California Wildfire Threat and Ag Sentiment Down for September
From Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**As wildfires challenge California’s wine sector, smoke taint has emerged as one of the primary threats to the state’s most lucrative crop.
Despite the research, scientists and growers say gaps in the still-evolving science mean wildfire smoke continues to cause unnecessary crop losses and financial damage even when it doesn’t taint grapes.
In 2020, up to 325,000 tons of winegrapes went unharvested in California due to actual or potential smoke damage.
**The August milk margin triggered the eighth consecutive payment for dairy producers who obtained Dairy Margin Coverage for this program year.
August's income over feed margin is $6.46 per hundredweight, with projected DMC payments totaling $120 million.
To date, including the projected August payments, dairy producers have received more than $1.2 billion in much-needed economic support for 2023, and margin forecasts indicate the likelihood of more to come before the end of the calendar year.
**Agricultural producers’ sentiment declined for the second month in a row during September.
The Purdue University-CME Group Ag Economy Barometer fell nine points to 106.
The Current Conditions and Futures Expectations Indices both
declined ten points in September.
Weakening prices for major crops and concerns about high production costs and interest rates weighed on producers' minds this month.
