Groups continue to work toward a solution as the pressure of a two-year delay in the farm bill is mounting on dairy interests as the last holdout.
As we reported on 10 January, dairy language was the holdup on the farm bill – the last hurdle until the conference can be completed. The House and Senate bills each provide for margin insurance for dairy, and both of those plans are based on supporting income-over-feed-costs (IOFC). This is because the high feed prices of the past five years rendered the price-revenue model of existing dairy programs ineffective. Moreover, both are also designed to pay a participating farm when the average difference between the USDA national all-milk price and the national cost of feeding dairy animals...
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...
