This week’s RURAL WRAP-UP covers the week of April 14-21, 2024.
For a list of today’s top headlines, check out the RURAL RUNDOWN.
USDA’s latest Meat Price Outlook shows strong demand for meat
How long will the decline in farm machinery continue?
According to the latest flash report from the Association of Equipment Manufacturers, U.S. tractor sales were down 12 percent year over year in March while combines also saw a decline of 23 percent.
We broke down the data with the help of Curt Blades, Senior Vice President of Industry Sectors & Product Leadership for the Association of Equipment Manufacturers, who spoke with RFD-TV’s own Suzanne Alexander last week on the Market Day Report.
Cash Cow: Earn top dollar for cull cows ahead of cattle inventory uncertainties
The markets have been dealing with a lower beef cattle herd for quite some time, and with a shortage of beef, analysts say even older cows are earning top dollar.
This comes as the USDA’s announcement to end its mid-year cattle inventory report over budgetary concerns. Many cattle producers are unhappy, including the National Cattlemen’s Beef Association (NCBA), who are pushing back on the USDA’s decision, saying it could add even more market volatility and confusion.
Patrick Linnell with CattleFax Studies says grilling season usually fetches the most for cull cows, averaging $1 per pound. This year, he estimates that will grow to $1.15 per pound, which equates to roughly $200 more per head.
Keep reading for Linnell’s advice for beef producers to net even higher beef sales later this year.
Wheat farmers face oversupply and mounting input costs
Trouble is growing for wheat farmers, with some doubting they will even break even this year due to a large global supply keeping prices low, coupled with stubbornly high input costs.
A study by Kansas State University shows farmers in the state would need a yield of 60 bushels per acre at $6.26 per bushel to break even.
