U.S. economy and inflation to slow in 2024
Interest rates and inflation will slow in 2024, along with the U.S. economy overall, projected the Agriculture Department on Tuesday in an outline of farm sector conditions in the new year. Farm-gate prices for the three major field crops—corn, soybeans, and wheat—would fall for the second year but remain above pre-pandemic levels while market prices for cattle and hogs go up.
One fourth of corn and soy growers alter practices due to weather shifts
A minority of corn and soybean growers—one in four—say they altered their operations directly because of long-term changes in weather patterns, said a Purdue University poll on Tuesday. The most common changes were use of no-till planting, a shift in the mix of crops, and increased use of drought-resistant varieties, according to the Ag Economy Barometer.
Farm labor panel focuses on guestworkers
The H-2A visa program for farmworkers needs to be modernized, said the leaders of a working group composed of one third of the members of the House Agriculture Committee on Tuesday. An interim report by the working group said growers turn to the H-2A visa as a last resort because of its “high costs and regulatory complexities,” and that agricultural labor is increasingly difficult to find.
TODAY’S QUICK HITS
Nix California’s glyphosate warning: The U.S. appeals court in San Francisco, in a 2-1 decision, ruled that a California state law unconstitutionally required a warning label on the weedkiller Roundup, saying its main ingredient was known to cause cancer. (9th Circuit U.S. Court of Appeals)
HPAI hits egg farm: The first discovery of highly pathogenic avian influenza at an egg farm this fall was at a farm with 940,000 egg-laying hens in Wright County, just northwest of Minneapolis; 61.26 million birds have died in bird flu outbreaks that began in February 2022. (USDA)
Wheat exports shrivel: Only 71,608 metric tons of U.S. wheat were inspected by USDA for export last week, the smallest weekly total since record keeping began in 1983; wheat exports are forecast to shrink to 700 million bushels this trade year. (Bloomberg)
States sue Agri Stats: The states of Minnesota, California, North Carolina, and Tennessee joined a Justice Department lawsuit that accuses Agri Stats of violating antitrust laws by sharing information that allowed chicken, turkey, and hog processors to align prices. (Justice Department)
