Beef Checkoff Analysis and House & Senate Pass Spending Bills
From the Ag Information Network, this is your Agribusiness Update.
**An independent analysis of the Beef Checkoff thoroughly assessed the effectiveness and additional financial benefits produced by the program’s demand-driving activities.
The study had objectives to measure, including whether national Beef Checkoff increased demand for beef products.
The Beef Checkoff’s Evaluation Committee was very pleased with the results and said the statistics tell them they are achieving the goal of providing exporters and importers with an excellent ROI.
**The Senate Appropriations Committee approved the Agriculture-FDA spending bill 27-0.
Farm Policy News says both chambers of Congress have now approved their Fiscal Year 2025 Ag-FDA funding bills out of the full committees.
The bill sets aside $25.9 billion for USDA, FDA, and related agencies like the Commodity Futures Trading Commission.
Also, the Senate bill rejects the House bill’s deep cut in the Food for Peace Program.
**The July WASDE report shows the 2024-25 corn outlook calls for larger supplies, greater domestic use and exports, and lower ending stocks.
Corn production is forecast UP 240 million bushels.
The season-average farm price is down ten cents to $4.30 a bushel.
The wheat outlook is for larger supplies, domestic use, exports, and ending stocks.
Ending stocks are predicted at 856 million bushels, the highest in five years.
The season-average price is down 80 cents at $5.70.
