USDA announced this week its plans for moving forward with COVID relief funds. On 27 January, the Biden USDA announced a freeze on processing and payment of CFAP funds until it conducted a review. This week’s plan was a product of that review. The funds to be divvied up came from the following:
Under CFAP 1 and 2 there were unspent monies – a carry-over of about $2.3 billion.
In January 2021, Congress passed the Omnibus Appropriations Act which provided another $11.2 billion at the Secretary’s discretion for agriculture COVID relief. This was for a third round of payments known as CFAP - Additional Assistance (CFAP-AA).
Congress passed, and the President signed on 11 March, the...
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...
