In its first action of the 117th Congress, the House Agriculture Committee passed its portion of the budget reconciliation bill to conform with the FY 2022 budget resolution. The measure passed on a party line vote of 24 to 23, and all amendments – save one – failed on a party line vote. Included in the bill was:
$4 billion to remain available until expended at the Secretary’s discretion to purchase commodities, distribute produce, diary products, seafood, meat, and eggs to private feeding programs and non-profits, provide grants to small and mid-sized food processors and distributors for worker COVID protections, and loans and grants for food and agricultural “supply chain resiliency” – this includ...
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...