June 10, 2020
On Tuesday, the University of Missouri’s Food and Agricultural Policy Research Institute (FAPRI) released its June Baseline Update for U.S. Agricultural Markets. The update incorporates government payment programs that were announced before June 1, 2020 and analyzes some of the market impacts of those programs. After outlining important assumptions, the FAPRI report included key outcomes relating to government […]
June 2, 2020
Cressleaf Groundsel is in full flower currently in forage and unplanted fields across the state. While this is not a new weed prevalence has been increasing, causing concern for many livestock producers. Toxicity Cressleaf Groundsel is toxic to both cattle and horses. Cattle are 30-40 times more susceptible to poisoning than sheep or goats. Calves […]
June 2, 2020
On Wednesday, the Federal Reserve Board released its May 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 softened. Most of the District remained drought free, with the exception of much of Florida, southern Louisiana, […]
May 27, 2020
Recent news articles continue to highlight the ripple effects COVID-19 is having on some aspects of the U.S. livestock market. Meanwhile, the minutes from the Fed’s April meeting noted that, “The agricultural sector was under severe stress due to falling prices for some farm commodities and pandemic-related disruptions, such as the closing of some food processing plants.” COVID-19, […]
May 26, 2020
On Wednesday May 20th, the USDA released more information on the Coronavirus Food Assistance Program (CFAP). In today’s article we provide a broad overview of the CFAP and how payments will be determined for the major eligible non-specialty crops, livestock, and dairy. Applications for CFAP payments open May 26th and close August 28th with additional information and […]
May 20, 2020
U.S. Secretary of Agriculture Sonny Perdue today announced details of the Coronavirus Food Assistance Program (CFAP), which will provide up to $16 billion in direct payments to deliver relief to America’s farmers and ranchers impacted by the coronavirus pandemic. In addition to this direct support to farmers and ranchers, USDA’s Farmers to Families Food Box program is […]
May 20, 2020
Yesterday, USDA’s Economic Research Service (ERS) released its monthly Livestock, Dairy, and Poultry Outlook, which included updated information regarding U.S. pork exports. Illinois is a leading pork producing State. In part, the ERS update stated that, “Since early April, COVID-19 infections have reduced laborforces in several U.S. pork processing facilities, causing plant throughput to slow and some plants […]
May 11, 2020
Donnelle Eller reported on the front page of Sunday’s Des Moines Register that, “The coronavirus has caused an agricultural tsunami that’s ripped through Iowa and the nation. Markets have been disrupted as schools, restaurants and hotels have shuttered, and meatpacking plants are slowing or closing as about 10,500 workers — including 1,650 in Iowa — have tested positive for COVID-19. “Prices […]
May 11, 2020
COVID-19 has resulted in a dramatic decline in fed cattle prices putting a damper on net return prospects for 2020. In a farmdoc article published in early January (January 10, 2020), we were expecting net returns to average approximately $40 per head in the first quarter and approximately $10 per head in the second quarter of 2020. […]
May 8, 2020
Bloomberg News reported today that, “The top trade negotiators for China and the U.S. pledged to create favorable conditions for implementation of the bilateral trade deal and cooperate on the economy and public health. “China’s Vice Premier Liu He talked with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin by phone Friday Beijing time, according to a statement from China’s Ministry of Commerce. They also […]
