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: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
