Volatile commodity prices in the year ahead – January 19, 2023

Volatile commodity prices in the year ahead

Economic growth and inflation will slow in the coming months, but commodity prices are likely to be volatile as the world’s farmers try to catch up with the global appetite for food, said two leading agricultural economists on Wednesday. “I think that 2023 still looks pretty strong” for U.S. farm income, said Nathan Kaufman, the Kansas City Federal Reserve Bank’s principal expert on agriculture economics.

Stronger tools for enforcing U.S. organic standards

The USDA gained “a significant increase” in its power to prevent fraud and protect the integrity of the National Organic Program with the publication of the Strengthening Organic Enforcement rule, said Agriculture Undersecretary Jenny Moffitt on Wednesday. The rule will take effect in 2024.


Moving incentives: In an effort to lure new residents, more than 50 rural communities are offering relocation inducements including cash, credit toward broadband service, and a free lot for building a house. (Daily Yonder)

Balking at EU livestock rules: An EU proposal to make 13 percent of livestock farms subject to stricter ammonia and methane emission rules, up from 4 percent, was criticized by member countries at a meeting of agriculture ministers. (Euractiv)

Better cattle tracking: To strengthen precautions against the spread of livestock disease, the USDA has proposed requiring producers to use electronically readable ear tags on some animals crossing state lines, including dairy cows, rodeo and show cattle, and bison. (USDA)

Governor makes cabinet picks: Wes Moore, Maryland’s first Black governor, appointed Kevin Atticks, founder of Grow and Fortify, as state agriculture secretary, and Josh Kurtz, a top executive at the Chesapeake Bay Foundation, as secretary of natural resources. (Daily Record)

Packing plant effluent rules: The EPA has invited input from small businesses, government groups, and not-for-profit organizations as it considers revisions to effluent guidelines for meat and poultry processors. (EPA)

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