Equipment sales falter as farm income slows, tariffs a concern
Farm equipment sales are slowing alongside the downturn in farm income, creating a headwind to overall U.S. investment activity, said the Beige Book, a summary of economic conditions in Federal Reserve Bank districts. In discussing agriculture, the St. Louis Fed said some businesses were building inventory in anticipation of potential tariffs on imported goods.
Reports of three new human cases of bird flu include California child
Arizona health officials said two workers employed at poultry farms have recovered from mild cases of bird flu while the public health agency in Marin County, north of San Francisco, said it was investigating a possible bird flu infection of a child. If confirmed by the CDC, the U.S. total for bird flu infections would rise to 61 people in eight states this year.
TODAY’S QUICK HITS
Farm activist Corky Jones dies: Nebraska farmer Corky Jones, a former president of the American Agriculture Movement and a leader of the 1979 Tractorcade that brought hundreds of farmers to Washington to seek change in U.S. farm policy, has died at age 92. (Farm Aid)
Eleven warmest months: The average temperature for the 48 contiguous states from January through November was 57.1 degrees F, 3.3 degrees above average and the warmest on record for the 11-month period. (National Oceanic and Atmospheric Administration)
Continents are drier: Three-fourths of the world’s land experienced drier conditions from 1979 to 2020 than in the previous 30-year period, and the drier conditions are challenging the survival of plants and animals, said a UN report. (Associated Press)
Specialty crop program opens: The USDA said it would accept applications through Jan. 8 for payments through the new $2 billion Marketing Assistance for Specialty Crops program, intended to help producers expand markets and manage higher costs. (Farm Service Agency)