The ag markets are holding steady as lawmakers work to keep the government running. As farmers look ahead to next year, farm creditors say inputs may be cheaper but that relief is hiding a bigger problem.
“We’re seeing large declines in expenses for feed, fertilizer, and fuels, although there are still some increasing costs for things such as interest on debt or on labor costs. Now at an aggregate level, we can look at this and say that liquidity and profitability ratios for the sector have been largely stable. Ratios are improving, but these aggregate stories really are masking sub-sector strain,” said Greg Lyons.
Crop receipts are expected to be down $32 billion from last year. It is one reason multiple ag groups have been pushing lawmakers to get emergency aid to farmers.
Farmers should watch for settlement notices and gather dealer repair invoices, proof of payment, and equipment identification records.
Proposed legislation would require automakers to include AM radio in all new passenger vehicles at no additional cost.
HTS Commodities’ Lewis Williamson joins us to recap USDA’s latest Crop Progress Report, troubling winter wheat conditions, and key market factors shaping the markets as the growing season progresses.
Senate Ag Chairman John Boozman says Farm Bill text could be released within weeks, with a committee markup targeted for later this summer.
Livestock producers should inspect animals daily, report any suspicious wounds immediately, and comply with local movement restrictions.
Farm Bureau economist John Newton says farm income has declined every quarter for three years.
