Chairman of the House Agriculture Committee, Glenn Thompson (R-Pennsylvania), released the text of the farm bill on Friday. Markup is scheduled for next week. Some key highlights are shown below. Commodities:
Directs reporting on dairy production expenses to ensure that producer costs are accurately reflected in the data. Creates a standing block grant authority for future disaster payments. Includes propane that is primarily used for agricultural production in the storage facility loan program. Ensures producers can repay their marketing loans during a government shutdown. Expands and strengthens support for producers of trees, vines, and shrubs. Directs the Secretary to establish a standing framework for providing support for speci...
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...