Farmer confidence is second-lowest in nearly six years – July 6, 2022

Farmer confidence is second-lowest in nearly six years

Seven out of every 10 large-scale farmers and ranchers expect high inflation to persist into 2023 and 51 percent anticipate their operations will be worse off financially next summer than they are now, said Purdue University on Tuesday. Its Ag Economy Barometer, a monthly gauge of farmer confidence, fell to its second-lowest level since October 2016.

Biofuels are driving up already high vegetable oil prices

Biofuels are far more responsible for high vegetable oil prices than Russia’s invasion of Ukraine, said agricultural economist Aaron Smith of the University of California-Davis, and industry demand will push prices higher.

TODAY’S QUICK HITS

Obesity rose during pandemic: Obesity among adult Americans rose by 3 percent during the first year of the pandemic, according to a survey analysis by a USDA researcher. (USDA)

Almonds in a pickle: Almond growers in California face a delivery and cash-flow crunch, with exports stalled at seaports, a huge crop ready for harvest and prices falling to an all-time low. (Los Angeles Times)

Japan aids Ukraine grain: Japan will pay for a $17 million project to help Ukrainian farmers store their grain in temporary shelters and help the government develop alternate transport routes for grain exports, since its Black Sea ports are blockaded. (World Grain)

Deeble named to USDA: Eric Deeble, formerly policy director at the National Sustainable Agriculture Coalition, was named Agriculture deputy assistant secretary for congressional relations. (USDA)

Bird flu kills seals: Highly pathogenic avian influenza is behind the higher-than-usual number of seal strandings and deaths along the Maine coast this summer, say federal officials. (Associated Press)

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