In an event at a produce packaging facility in North Carolina yesterday, President Trump announced another $1 billion for the Food Box distribution program. This would be the fourth round of the program originally authorized by the CARES Act. The legislation provided $3 billion for distributors to contract to supply feeding programs and food banks with boxes of produce, cooked meat, and dairy products.
To date, 71.7 million boxes have been distributed. Counting the dairy boxes and the dairy portion of the “combo boxes”, about 25 percent or more of the funding has gone to dairy. If that pace continues (it likely will because a high percent of current contracts will be extended) that will total $1 billion on dairy purchases ove...
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...
