1. Federal Reserve raised interest rates again
The Federal Reserve raised interest rates by three-quarters of a point for the third straight time.
This move boosted its benchmark short-term rate to a range of 3 percent to 3.25 percent, which has not been seen since early 2008, according to AP News.
To read the full story, click HERE.
2. Avian Influenza is back
Avian influenza is hanging on as we head into fall. The USDA has reported 26 outbreaks just this month alone.
The largest outbreak was found on an egg farm in Ohio with three million hens affected. Nationwide, more than 44 million birds in domestic flocks have died or been culled due to the disease this year, making it the worst outbreak since 2015, which killed 50 million birds.
To read the full story, click HERE.
3. Looming rail strike deal is now affecting equipment availability
It could be a couple of weeks before anyone knows whether freight workers will accept what is on the table now or go on strike.
The strike could have made the parts shortage worse, and some farmers report the problem is even worse now than last year. A southeast Missouri farmer says when a tractor goes down, there is usually one on standby. When a combine goes down and parts are not available, there is no idea how long it will take to fix it.
To read the full story, click HERE.
4. Ag groups do not support President Biden’s executive order on biotechnology
The National Cattlemen’s Beef Association questioned the recent executive order from the White House regarding advancing biotechnology.
In a statement, they say they are disappointed that the order touches on plant-based meat.
“Unfortunately, we are extremely disappointed that this Executive Order also addresses fake meat production under the guise of food security. Supporting cell-cultured, fake meat products is the wrong approach and the administration should remain focused on supporting America’s farmers and ranchers.”
To read the full story, click HERE.
5. USDA awarded an additional $502 million for high-speed rural broadband access
Roughly 20 states will soon get a cut of more than half a billion dollars in an effort to expand high-speed broadband access in rural communities.
The additional $502 million is part of the funding from the Reconnect Program and will come in the form of loans and grants issued by the USDA. Ag Secretary Tom Vilsack says more grants will soon be available through the current Administration’s Infrastructure Law, with funds going to the most vulnerable communities.
To read the full story, click HERE.
