Ag Equipment Demand Down and Farm Bill Mark Up Set
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Ag equipment manufacturers are taking a cautious outlook as lower crop prices and tight farm margins dampen new machinery demand.
John Deere executives say recent earnings reflect softer equipment sales, particularly for large tractors and combines, citing reduced farmer purchasing power.
USDA forecasts show net farm income declining from recent highs, largely due to weaker commodity prices.
Analysts say elevated interest rates have also discouraged capital spending.
**House Ag Chair, GT Thompson has tentatively set a farm bill markup for the week of February 23, according to Politico.
While the formal text of his farm bill has yet to be introduced, it will likely have the same priorities as the version that advanced out of committee in 2024.
Two people with anonymity say House Ag Republicans want to get a floor vote on the farm bill before the Easter recess.
**The National Young Farmers Coalition expressed deep concern over the continued delay of the 2024 Tenure, Ownership, and Transition of Agricultural Land Survey.
The survey aims to provide important insights into the trends and patterns of ownership of agricultural land across the U.S.
NYFC’s government relations director, Vanessa Garcia Polanco says without the TOTAL Survey, we’re flying blind on one of the most urgent issues in agriculture, which is land access.
