Falling crop prices and net cash farm income are juxtaposed against falling government farm program payments which will create lively debate when the new Congress starts working on the 2018 Farm Bill.
The 2014 farm bill doesn’t expire until 2018 but deliberations will start in earnest when the new Congress – which is being elected today – convenes in 2017. As has been observed many times in history, farm bills are often written to fix yesterday’s problems. The decision to eliminate direct payments and focus on shallow loss programs that was made as the world came off the commodity boom fits that mold. Net cash farm income in 2013, prior to the passage of the 2014 farm bill, was $135.6 billion but net cash farm inc...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
