As inflation falls, ‘backwards pressure’ on food prices
Compared to food price inflation of 11 percent in 2022, grocery price increases will be virtually nonexistent this year, said a Wells Fargo analyst Wednesday during a panel discussion on the 2024 outlook for the food and ag sector. A Rabobank analyst said softer commodity prices would take the steam out of the hot farmland market.
Iowa eyes tougher enforcement of land ownership rules
Pointing at China, Iowa Gov. Kim Reynolds asked state lawmakers for stronger enforcement of laws that limit foreign ownership of farmland. “Let’s make sure that American soil remains in American hands,” she said during an annual address to the legislature.
Summer EBT to provide $2.5 billion in grocery assistance
Roughly seven of every 10 school-age children will be included in the new Summer EBT program, which is expected to disburse $2.5 billion in its first year of operation, said the Agriculture Department on Wednesday.
TODAY’S QUICK HITS
Stopgap funding possible: While House Speaker Mike Johnson said “we’re pushing everybody hard” for passage of full-year appropriations bills, he did not rule out another short-term government funding bill. The USDA will run out of money on Jan. 19. (Roll Call)
Tainted applesauce cases mount: Nationwide, the FDA has received 87 confirmed complaints or reports of adverse effects from lead-contaminated applesauce along with an additional 209 probable cases and 26 suspect cases. (Marler Blog)
Infected feral pigs: Two feral pigs captured in Calaveras County, about 80 miles southeast of Sacramento, California, tested positive for pseudorabies, a viral disease that causes reproductive problems and even death in livestock. (National Hog Farmer)
Supply chain funding: At a farm show in Pennsylvania, Agriculture Secretary Tom Vilsack announced a cooperative agreement with the state to offer $26 million in grants for projects to strengthen the resilience of local and regional food systems. (USDA)
