Early Interseeded Cover Crops Could Solve Fall Establishment Issues
12/07/2020
Summer interseeding may be a good cover crop strategy for farmers with shorter growing seasons. So say the first-year results from a USDA-sponsored soil health demonstration project in northern Iowa. Interseeding allows cover crops to grow and take root prior to corn canopy. After canopy, the cover crop goes dormant from being shaded out then …
Federal Reserve- Observations on the Ag Economy- November 2020
12/04/2020
On Wednesday, the Federal Reserve Board released its November 2020 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy. * Sixth District- Atlanta– “Agricultural conditions were mixed. While drought-free conditions prevailed in most of the District, some producers reported crop damage caused by recent …
2020 Farm Sector Income Forecast, December
12/03/2020
The USDA’s Economic Research Service (ERS) indicated on Wednesday that, “Net farm income, a broad measure of profits, is forecast to increase $36.0 billion (43.1 percent) from 2019 to $119.6 billion in 2020. “Net cash farm income is forecast to increase $24.7 billion (22.6 percent) to $134.1 billion. In inflation-adjusted 2020 dollars, net farm income is forecast to increase $35.0 billion (41.3 percent) and net cash …
Turning a Weed Into a Profit-yielding Crop
12/02/2020
People who garden may know about pennycress. It’s also called “stinkweed” for the odor it gives off when it’s crushed. Unlike most weeds, pennycress seeds contain a lot of oil, and that oil can be turned into fuel for jets or diesel trucks and cars. Two researchers at The Ohio State University College of Food, Agricultural, …
Cow Fertility, Pregnancy Rate Important Economic Numbers
12/01/2020
Reproduction is the most important economic trait in a beef cow herd. “Selling more calves as it relates to cows exposed and cow input costs is a greater indication of business success than any other production parameter,” says Gerald Stokka, North Dakota State University Extension veterinarian and livestock stewardship specialist. “Unfortunately, the majority of our …
Record High U.S. Red Meat Production in October
12/01/2020
Bloomberg writer Dominic Carey reported earlier this month that, “U.S. red-meat production surged to a record in October, months after the coronavirus disrupted slaughterhouses. “Production reached 5.09 billion pounds, up 8.1% from September and 0.4% from a year earlier, U.S. Department of Agriculture data showed [on November 19th]. That marked the highest since the monthly data started in 1944.” The Bloomberg article stated …
China Imports of U.S. Corn Next Year Could Hit 30 Million Tons
12/01/2020
Bloomberg News reported late last week that, “China is set to import more U.S. corn, with volumes for next year seen hitting the top end of market expectations and squeezing global grains prices. “State-owned food titan Cofco Corp. has sold 10 million tons to domestic private mills and will probably boost purchases from the U.S. even further, according …
Farmer Sentiment Pulls Back Post-election
12/01/2020
U.S. farmers sentiment weakened following the November 2020 elections, as the Purdue University-CME Group Ag Economy Barometer fell 16 points from a month earlier to a reading of 167. Although this month’s reading was nearly equal to the pre-pandemic high set back in February, it was 9 percent lower than the sentiment reading taken just two weeks …
USDA Agricultural Trade Outlook-FY 2021 U.S. Exports Forecast Up $11.5 Billion
11/26/2020
On Monday, the USDA released its Outlook for U.S. Agricultural Trade, a quarterly report from the Department’s Foreign Agricultural Service (FAS) and Economic Research Service (ERS). Today’s update includes highlights from the report, which was coordinated by Bart Kenner and Hui Jiang. The Outlook stated that, “U.S. agricultural exports in Fiscal Year (FY) 2021 are projected at $152.0 billion, up …
USDA Shares Easy At-Home Advice for Handling Food Safely this Thanksgiving
11/26/2020
This week, Americans will enjoy a delicious meal on Thanksgiving Day with family and friends – either in person or virtually. Taking the necessary steps toward safe food handling and sanitation will help protect you and your loved ones this year. To make sure your Thanksgiving meal is prepared safely, the U.S. Department of Agriculture …