Foreign buyers pay a premium for U.S. farmland
An analysis of farmland sales in the Midwest and Plains states found foreign investors paid 13.7 percent more than American purchasers for comparable tracts, but the infrequent transactions did not affect land values overall, said Mykel Taylor, an associate professor of agricultural economics at Auburn University, on Tuesday. Foreign ownership is “pretty hot politically” as an issue, she said, and could result in the USDA becoming part of the powerful federal committee that decides if a foreign purchase poses a national security risk.
USDA allows higher line speeds at six pork plants for at least 90 days
Following the recommendation of a team of experts, the Agriculture Department said on Tuesday it would allow six pork processing plants to operate high-speed slaughter lines for an additional 90 days in an experiment that began two years ago. The test was intended to generate information on the impact of higher line speeds on worker safety, but the team of experts said there was not enough data yet.
COP28 trains spotlight on food systems
When the next UN Climate Change Conference kicks off on Thursday, in Dubai, food systems issues will play a more central role than ever before. To learn more about what to expect at this year’s conference, I spoke with Melissa D. Ho, senior vice president for freshwater and food at World Wildlife Fund-U.S.
TODAY’S QUICK HITS
‘Eat less meat’: At the COP28 climate conference, the Food and Agriculture Organization will advise the world’s richest nations to eat less meat and encourage farmers in the developing world to improve livestock productivity and sustainability. (Bloomberg)
Little progress on nitrate: Minnesota has made negligible progress in reducing nitrate pollution in its groundwater, rivers, and streams despite years of work and programs to encourage farmers to change their practices: Nitrogen fertilizer is the main source of nitrate. (Minneapolis Star Tribune)
‘We’re not there yet’: Farm bill leaders in Congress have made considerable progress but “it has become clear we’re not there yet when it comes to the safety net,” said the Republican leader on the Senate Agriculture Committee, calling for “strong risk management tools.” (Arkansas Democrat Gazette)
Nebraska’s biggest land buyers: The nine largest buyers of farmland in Nebraska in the past five years are corporate farming operations, real estate developers, and investment firms, according to an analysis of sales data. (Flatwater Free Press)
Smallest dead zone yet: The dead zone in the Chesapeake Bay this summer was the smallest on record, “the lowest average hypoxic volume since monitoring began 39 years ago,” according to combined data from Maryland and Virginia. (Maryland Department of Natural Resources)
