The House budget resolution has no specific instructions in the reconciliation package regarding spending cuts to farm and nutrition programs nor suggested reforms to achieve deficit reduction.
The House Budget Committee will consider the FY 2018 budget resolution tomorrow, which it indicated gives reconciliation instructions to 11 House committees with a target of at least $203 billion in mandatory savings and reforms, a sum very much in keeping with expectations. That total is equal to a 1 percent, across-the-board cut to federal mandatory spending programs.As previously noted (see Ag Perspectives, 10 July), a 1 percent reduction to farm program spending would be the equivalent of $600 million over the next 10 years. The total proposed...
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...
