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Farmers Understand Sustainability and Tractor Sales Mixed
The Agribusiness Update
McKinsey and Company research reveals that a vast majority of American farmers have an understanding of sustainable farming and a willingness to adopt the practices, and for the second straight month, unit sales of 100-plus horsepower ag tractors increased in the U.S.
Ag Loan Demand Up and NCBA Applauds Paraguayan Beef Ban
The Agribusiness Update
Agricultural loan demand increased in 2023, and agricultural lending by U.S. farm banks grew 6.7%, and the National Cattlemen’s Beef Association thanked the Senate for passing a resolution to block beef imports from Paraguay.
Ag Loan Demand Up and NCBA Applauds Paraguayan Beef Ban
The Agribusiness Update
Agricultural loan demand increased in 2023, and agricultural lending by U.S. farm banks grew 6.7%, and the National Cattlemen’s Beef Association thanked the Senate for passing a resolution to block beef imports from Paraguay.
California Planting Decisions and U.S. Ag Imports Outpace Exports
The Agribusiness Update
Falling commodity prices, rising production costs and water uncertainty are some of the factors weighing on planting decisions for California farmers this year, and the USDA reports U.S. ag IMPORTS exceeded exports by $16.6 billion in 2023.
American Peanut Council in South Korea and U.S. Ag Imports Outpace Exports
The Agribusiness Update
The American Peanut Council is in South Korea this week as part of the USDA’s agribusiness trade mission, and the USDA reports U.S. ag IMPORTS exceeded exports by $16.6 billion in 2023.
Product of USA Label Final Rule and Drought Impact on U.S. Cattle Herd
The Agribusiness Update
Ag Secretary Tom Vilsack announced the finalization of a rule to align the voluntary “Product of USA” label claim, and new data from USDA Economic Research Service shows changes in drought conditions impact the size of the U.S. beef cattle herd.
Not Surprising in 2024 and Biological Push Continues in 2024
The Agribusiness Update
Farm Journal and Purdue University’s December Economists’
Monthly Monitor shows views slightly more optimistic than a month ago as they look at unexpected headlines they wouldn’t be surprised to see in 2024, and AgriThority put together its top ten trends for the new year.
Read More Bayer Loses 4th Straight Roundup Suit and Deere Quarterly Sales Down
The Agribusiness Update
Bayer faces a payout of $1.56 billion after a Missouri jury finds in favor of the plaintiffs in fourth straight Roundup lawsuit, and John Deere sales in the fourth quarter fell year-over-year, though the earnings did increase.
Autonomous Ag in Salinas and 2022 Potato Summary
The Agribusiness Update
The autonomous agriculture industry and some 1,500 visitors were at the Salinas Sports Complex recently to meet the farm robots of today and tomorrow, and the USDA released the 2022 Potatoes Summary that shows potato estimates for the 2022 season.
Florida Peanut Butter Challenge and 2022 Potato Summary
The Agribusiness Update
Start “Giving Season” early this year by participating in UF/IFAS Extension’s 2023 Peanut Butter Challenge throughout October, and the USDA released the 2022 Potatoes Summary that shows potato estimates for the 2022 season.
Corn Used for Fuel Higher and Farm Credit System's Income Down
The Agribusiness Update
USDA data shows corn used to make ethanol and other fuels increased month-to-month in June but were down year-over-year, and the Farm Credit System’s combined net income decreased 1.4% to $1.78 billion for the three and six months ending on June 30.
Cost of Producing Tomatoes Up and Fertilizer Prices Down
The Agribusiness Update
Costs to produce processing tomatoes increased substantially in the past six years, according to a study by the University of California and UC Cooperative Extension farm advisors, and after reaching historic highs in 2022, prices for major fertilizers have trended lower since.
Cost of Producing Tomatoes Up and Fertilizer Prices Down
The Agribusiness Update
Costs to produce processing tomatoes increased substantially in the past six years, according to a study by the University of California and UC Cooperative Extension farm advisors, and after reaching historic highs in 2022, prices for major fertilizers have trended lower since.
California Avocado Growers Hanging On and 4th of July Cookout Cost More
The Agribusiness Update
A cold Spring, increased imports and a persistent labor shortage have challenged California avocado growers, and celebrating the 4th of July with a cookout will cost significantly more than two years ago.
Bill Limits Foreign Land Ownership of Georgia Agland and Agricultural Lending Increases
The Agribusiness Update
A bill has been introduced to limit what Georgia land could be owned by foreign entities, and agricultural lending increased in 2022 despite economic headwinds.
EPA Spray Drift Assessment and Agricultural Lending Increases
The Agribusiness Update
EPA releases updated risk assessment for pesticide spray drift, and agricultural lending increased in 2022 despite economic headwinds.
California Water Allocations Up and FCC on Importance of AM Radio in EVs
The Agribusiness Update
California farmers can expect increased water allocations thanks to recent rain and snow, and FCC Commissioner Nathan Simington speaks out about the importance of including AM radios in new electric vehicles.
Food Retail Sector Consolidation and Emergency Relief for Organic Farmers
The Agribusiness Update
The U.S. food retail sector experienced substantial consolidation over the thirty years, and Organic Farmers Association applauds announced emergency financial relief for organic farmers.