Two sides of Washington: Trump bailout and China tariffs
Original photo – freeimages.com –
Peter Mackay
The Trump administration will hear hours of testimony about its proposed 25 percent tariffs on $200 billion in Chinese products on Monday, overlapping with the expected USDA announcement of up to $12 billion in aid for U.S. agriculture to offset the impact of Chinese tariffs on farm exports.
Vegetable prices rise but food inflation stays dormant
Thanks to declines in food prices in 2016 and 2017, grocery store prices will stand at a lower overall level at the end of this year than they were at the end of 2015, said the monthly Food Price Outlook.
The global flood of grain begins to drain away
Drought in Australia, Europe and Russia, three of the great wheat growers of the world, will result in the first decline in global wheat production in six years, said the International Grains Council.
TODAY’S QUICK HITS
Cell-based meat could lower cost of kosher meat (Food Navigator): An official at a kosher certification agency says cell-based meat could lower the cost of kosher food because all of the meat could be used.
Feds want more say in California water (Sacramento Bee): The Interior Department wants to renegotiate the 1986 agreement that governs federal and state agencies in California and how they divide the water supply.
‘When you see me, cry’ (AP): Boulders known as “hunger stones,” which have age-old inscriptions that warn of hard times ahead, are reappearing in the Elbe River as drought in Europe reduces water flow.
Ag group recommends stricter dicamba rules (DTN/Progressive Farmer): The Illinois Fertilizer and Chemical Association suggested that EPA make four changes in its dicamba regulation going into the 2019 crop year, including June 30 as the cutoff date for spraying dicamba and banning application if sensitive crops border a field.
We’ll always hive Paris (New York Times): Urban beekeeping is on the rise in Paris, which has an estimated 1,000 hives across the city, producing a tiny part of France’s honey output.
Food lobbyists get a hearing at USDA (CNN): USDA emails show Big Food lobbyists “are working hand-in-glove” with USDA staff and making suggestions for speech material for Agriculture Secretary Sonny Perdue.
An August record for cattle on feed (USDA): There were 11.1 million head of cattle being fattened for slaughter in U.S. feedlots at the start of this month, up 5 percent from a year ago and the highest Aug. 1 total on record.
ON THE CALENDAR
Monday
– USDA is expected to release details, such as payment rates, of up to $12 billion in Trump tariff payments to farmers and livestock producers. Soybean growers are expected to get the largest share of the money.
– Final day of hearings on Trump administration proposal for tariffs of 25 percent on $200 billion of Chinese products, 9:30 a.m. ET. China says it will respond with levies of 5-25 percent on $60 billion of U.S. goods. The nations already have imposed 25 percent tariffs on $50 billion of each other’s products
– USDA issues weekly Crop Progress report, 4 p.m. ET.
– Farm Credit Council holds RAAW Conference 2018, through Wednesday, San Diego.
Tuesday
– Senate Commerce subcommittee hearing, “Harmful algal blooms: The impact on our nation’s waters,” 2:30 p.m. ET, 253 Russell.
– Farm Progress Show, “the nation’s largest outdoor farm event,” through Thursday, Boone, Iowa. Agriculture Secretary Sonny Perdue and eight state agriculture secretaries are scheduled to speak on Wednesday at noon CT on “Key Ag Topics.”
– USDA releases annual Citrus Fruits, Vegetables, U.S. and Canadian Cattle, and U.S. and Canadian Hogs reports, 3 p.m. ET.
– U.S. Soy Global Trade Exchange, Kansas City.
Wednesday
– Agriculture Secretary Sonny Perdue and eight state agriculture secretaries are scheduled to speak on “key ag topics” at the Farm Progress Show, noon CT, Boone, Iowa.
– USDA makes first estimate of fiscal 2019 farm exports and updates its forecast of 2018 sales. Its previous estimate, in May, was for exports of $142.5 billion, second-highest ever, 3 p.m. ET.
– USDA releases monthly Agricultural Prices report, 3 p.m. ET.
Thursday
– USDA updates its forecast of U.S. farm income for this year. Its February forecast was net farm income of $59.5 billion, the lowest since 2006 when the commodity boom started, 11 a.m. ET. The USDA will hold a webinar about its forecast at 1 p.m. ET.
Labor Day
Labor Day, observed on the first Monday of September, was designated a federal holiday by President Grover Cleveland in 1894 to honor the contribution of American workers. The labor movement inspired local and statewide observances in the late 19th century. Creation of the “workingman’s holiday” can be be viewed as an attempt by Congress to repair ties with unionized workers following riots in Chicago during the Pullman strike; the government sent troops to Chicago to try to break this strike, says history.com. “Labor Day also symbolizes the end of the summer for many Americans and is celebrated with parties, parades and athletic events.”
Keep up with more daily news with our daily farm & agriculture report at America’s Farm Report.
