EVENTS
- Women’s History Month
- Total Lunar Eclipse (Blood Moon) - March 13, visible in most of North America
TODAY’S RURAL RUNDOWN FROM RFD-TV NEWS:
GOVERNMENT SHUTDOWN INCHES CLOSER TO REALITY
Washington lawmakers are approaching a partial government shutdown as Senate Democrats prepare to filibuster the House-passed continuing resolution. The American Farm Bureau warns that a shutdown would have significant consequences for farmers, including halting loans, disaster payments, and new sign-ups for conservation programs.
It’s no secret that farmers and ranchers could face severe disruptions if a funding bill is not passed by Friday night. Bankers across the country are already reporting financial strain in the agriculture sector.
During a Senate Ag Committee hearing earlier this week, one loan officer noted that capital is running out in farm country, with some regions—especially in the Midwest and Southeast—facing multiple years of financial losses. These issues have led to the implementation of “workout plans” for struggling farmers.
The success of lawmakers’ discussions has further implications for the ag sector because it will impact when lawmakers can resume discussions on the forthcoming Farm Bill, which first expired on Sept. 30, 2024. In the last congressional session, lawmakers voted to extend the existing Farm Bill, which was passed in 2018, for another year as they did in 2024.
Still, as time passes, that legislation fails to address more modern issues facing farmers and ranchers. In an exclusive interview with RFD-TV News, U.S. Ag Secretary Brooke Rollins shared her optimism that a Farm Bill would pass in 2025.
FEDERAL RESERVE TO MEET ON INTEREST RATES
The Federal Reserve is set to meet next week, and interest rates could be a significant focus. With planting season approaching, market analysts are concerned that ongoing tariff tensions could keep inflation elevated, prompting the Fed to maintain higher rates for longer. Senior Market Analyst Darin Newsom explains how tariffs could trigger inflation and affect the Fed’s decision-making at the FOMC meeting, with any rate announcement expected Wednesday.
The Bureau of Labor and Statistics’ latest Consumer Price Index (CPI) for February showed a 0.2-percent increase in consumer prices and inflation month over month and a 2.8-percent rise on the year. The shelter index increased by 0.3%, while the energy and food indices rose by 0.2%.
Economists at Purdue University reported an 11-point increase in the Ag Economy Barometer for February, although there was little change in producer sentiment about prospects. The U.S. House passed a continuing resolution to fund the government through September. However, averting a shutdown relies upon several tense negotiations in the Senate to find a resolution, including Medicare reimbursements and increased funding for the WIC program (though it does not address year-round E-15 sales).
TENSION OVER TRADE POLICY + TARIFFS CONTINUES
In his first few months in office, President Donald Trump‘s trade policy has shaken markets but continues to have a more “slow burn” impact on America’s agricultural landscape. The National Ag Law Center noted that while tariffs have been used in previous administrations, the current scope and magnitude differ.
Sec. Brooke Rollins supported the Administration’s stance, emphasizing the importance of U.S. production. Recently, Rollins met with her Mexican counterpart to discuss trade relations and the trade imbalance, while Japan’s request to be exempt from U.S. tariffs on steel and aluminum was denied. The 25 percent tariff on steel and aluminum is set to begin today, and the tariff rate on imports from Canada has been adjusted to 50 percent.
Trade policy remains a significant point of discussion as Pres. Trump’s overarching policy decisions begin to take shape. Lawmakers, including Senator Ted Budd of North Carolina, back President Trump’s tariff strategies. Budd argues that the U.S. is merely responding to unfair trade practices by other countries. Meanwhile, the National Ag Law Center warns that the threat of new tariffs still looms, especially after the European Union imposed tariffs on $28 billion worth of U.S. products, including major agricultural exports like almonds, pork, and soybeans.
EPA RECONSIDERS EMISSION STANDARDS, CLEAN AIR + WOTUS
This week, the Environmental Protection Agency (EPA) is making significant moves to roll back regulations affecting farmers and ranchers. EPA Administrator Lee Zeldin called it the “biggest deregulation day in history” as his agency aligns its policy with the Supreme Court’s 2023 ruling in Sackett vs. The EPA, a.k.a. Waters of the United States (WOTUS).
Farm groups praise the clarity, with Farm Bureau President Zippy Duvall expressing appreciation for the move that will reduce unnecessary litigation.
In another regulatory shift, the EPA is reconsidering vehicle emissions standards set under the previous administration. Senator Deb Fischer supports this reconsideration, citing the opportunity for practical, market-driven changes. Zeldin also announced plans to reassess the 2009 “Endangerment Finding” from the Obama-era Clean Air Act, which has cost Americans trillions. Expect more developments on how these changes could affect emissions and electric vehicle mandates.
WOMEN’S HISTORY MONTH SPOTLIGHT: WOMEN IN AGRIBUSINESS
March is Women’s History Month, and we’re celebrating the incredible women shaping the future of agriculture! Every day in March, we will showcase feel-good stories and interviews highlighting the passion and persistence of powerful women in agriculture.
Today, we want to highlight Women in Agribusiness, an organization dedicated to growing a professional community of women, including through the Women in Agribusiness Annual Summit, slated for September in Orlando. RFD-TV’s own Suzanne Alexander spoke with Women in Agribusiness group member Sharon Beals on Market Day Report on Thursday about her ag journey, the importance of women in the farm sector, and her message to other women looking to make a difference.
