Topics for consideration in the farm bill are starting to take shape. According to reports from Capitol Hill, one likely change in the 2023 farm bill will be the reference prices under the Price Loss Coverage (PLC) program, which are likely to get updated to reflect current markets. The PLC program was created in the 2014 farm bill, along with the Ag Risk Coverage (ARC) program. PLC reference prices were set in the 2014 farm bill and haven’t been adjusted. The charts below show the evolution of commodity prices against the reference prices from the MY 2014/15 average price through the MY 2022/23 projected average.
ARC The ARC program provides payments tied to historical base acres, not current production, of covered...
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...
