Meat is getting cheaper, other foods aren’t – January 31, 2022

USDA reports:

USDA’s cuts to South American corn and soybean crops stole the show in Wednesday’s WASDE report. “The January 2022 USDA report package did not move markets as significantly as previous January reports have,” says Farm Futures grain market analyst Jacqueline Holland. To learn more, read the full analysis. – Farm Futures

Meat is getting cheaper, other foods aren’t

After rising for months, meat prices are falling at the grocery store. Meat prices dropped 0.9% from November to December, with beef and veal down 2%, pork chops 1.1% cheaper and hot dogs falling 1.5%, according to data from the Bureau of Labor Statistics. Still, food costs overall were 0.5% higher in December, with grocery prices up 0.4% and restaurant prices up 0.6%. – CNN

EPA renews Enlist herbicides

The Environmental Protection Agency renewed Enlist Duo and Enlist One herbicide registrations for seven years. According to the agency, the new labels meet the Federal Insecticide, Fungicide, and Rodenticide Act standards and comply with the Endangered Species Act. The registration for both was previously set to expire in January 2022. – Farm Futures

FBN launches Regenerative Agriculture Finance Fund

Farmers Business Network and the Environmental Defense Fund announced the launch of the FBN Regenerative Agriculture Finance Fund. Farmers who meet climate and water quality benchmarks will access lower interest rates, enabling wider adoption of profitable, sustainable agriculture. – Environmental Defense Fund

Higher fertilizer prices not linked to natural gas

The suggestion that recent increases in the price of natural gas are the primary reason for recent increases in the prices of nitrogen products is “highly suspect,” according to a new study from Texas A&M and released by corn grower groups. Instead, fertilizer prices are tracking closely with the improvement in corn prices, leading producers to question the influence of fertilizer companies. – Farm Futures

Oregon company recalls ground beef

The Oregon-based meat distributor Interstate Meat Distributors, Inc. has recalled more than 28,000 pounds of ground beef due to E. coli contamination concerns. The raw ground beef products were produced on Dec. 20, 2021 and shipped to Oregon, California, Washington, Arizona, Nevada, Utah and Wyoming. – AP News

SCOTUS denies year-round E15

The U.S. Supreme Court announced January 10 it will not take up Growth Energy’s appeal of the D.C. Circuit Court decision that struck down the Trump-era Environmental Protection Agency’s year-round E15 rule. Midwest governors, led by Iowa Governor Kim Reynolds, have already reached out to EPA to inquire about taking action at the state level. – Farm Futures

And your bonus…

2022 Farm Dog of the Year

The winner of the 2022 Farm Bureau Farm Dog of the Year award is Fit, a Border Collie owned by Florida Farm Bureau members Cindy and Andrew Deak. She helps move sheep from pasture to pasture and assists with feeding and other chores. AFBF, with support from Nestlé Purina Pet Care, recognized Fit, four regional runners-up and a People’s Choice Pup at its convention this week. – American Farm Bureau Federation

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