The House passed the scaled back version of the President’s Build Back Better reconciliation bill; the original package was $3.5 trillion, what got through the House on a 220-213 mostly party-line vote was $1.75 trillion. One Democrat, Representative Jared Golding of Maine, was the only member to cross party lines; he voted against it. The House vote was delayed waiting on a budget score from the Congressional Budget Office (CBO), requested by a group of moderate Democrats as we noted on 8 November). The bill has $81.564 billion in ag spending over the next five years; and $81.746 over the next 10 years.
Like the ag programs, most of the spending is front loaded. Over 10 years CBO forecast the bill would increase the deficit...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
