The House Agriculture Committee will hold a hearing on Thursday to Review the State of the Rural Economy. This is an annual hearing, and the sole witness will be Agriculture Secretary Vilsack. According to USDA, net farm income in 2021 was $116.3 billion. That is the highest since 2013 and almost double farm income in 2016.
The increase in farm income was mostly driven by prices. Of course, there are two drivers of gross farm cash receipts: the price of commodities and the volume of commodities. Holding volumes constant from 2020 to 2021 and accounting for only price increases results in increased income of $63.3 billion. Holding prices constant from 2020 to 2021 and accounting for only volumes results in $0.2 bi...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
