According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act passed in May provides another $14 billion in CCC authority leaving the agency about $20 billion on hand for the next two months. Below shows monthly spending this year compared to FY 2017, the last year there were no MFP or CFAP payments.
Of course, this is total USDA spending on everything from the Forest Service to feeding programs, as well as ARC and PLC, and not all is spent on CFAP. Though the category of “other spen...
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...
