The Congressional Budget Office (CBO) issued a report, “Options to Reduce Budgetary Costs of the Federal Crop Insurance Program,” on 22 December. This is an exercise in presenting Congress with budget options, which the CBO does occasionally. It is essentially a laundry list of ways that Congress can reduce crop insurance spending via the farm bill. The options put forth would reduce spending by $47.5 billion over the next 10 years.
The report was not requested by any specific member of Congress, which is how many such efforts originate. However, these options follow a number of crop insurance reform plans introduced in Congress. The three biggest cost savings are: 1) eliminating the harvest price option; 2) reducing premium...
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...
