China falls to third place as U.S. ag export market
U.S. food and ag exports to China will fall by $6 billion this fiscal year in the biggest slump in sales since the Sino-U.S. trade war, forecast the Agriculture Department on Wednesday. Mexico and Canada will surpass China as the top customers, while the agricultural trade deficit will widen to $32 billion.
Higher commodity prices soften farm income decline, say banks
Springtime increases in corn, soybean, and wheat prices brightened the outlook for the agricultural sector amid expectations of lower farm income this year than in 2023, said Federal Reserve regional banks in the Beige Book report on Wednesday. The Chicago and Dallas banks said the discovery of bird flu in dairy cattle was a cause for concern.
Bird flu hits large Iowa egg farm
Bird flu was confirmed at an egg farm with 4.2 million hens in Sioux County in northwestern Iowa, the first outbreak in the state this year, said agriculture officials. The Sioux County farm is one of the largest egg farms in Iowa, the No. 1 egg-producing state.
TODAY’S QUICK HITS
Prices and rural shoppers: Price is the most important issue for U.S. grocery shoppers overall, though more rural shoppers (44 percent) than urban shoppers (31 percent) consider it the top factor. (Purdue Center for Food Demand Analysis)
Judge denies cow-calf bid: A federal judge in Minnesota ruled that a handful of cow-calf operators from four states will not be added as plaintiffs in a lawsuit against meatpackers because they produce feeder calves, not the slaughter cattle at issue in the case. (DTN/Progressive Farmer)
Wetlands funding: The USDA will accept applications through Aug. 16 for a share of $50 million in funding for Wetland Reserve Enhancement Partnership projects to protect, restore, and improve high-priority wetlands on agricultural land. (Natural Resources Conservation Service)
