Farm Progress

7 ag stories you can’t miss – March 15, 2024

Catch up on fertilizer markets, the latest Tyson plant closure, drought conditions across the U.S. and more!

Rachel Schutte, Content Producer

March 15, 2024

3 Min Read
7 ag stories you can't miss
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Did you miss some news this week? We’ve got you covered. Here’s a collection of the top headlines in agriculture.

Fertilizer Outlook: Brace for tight profit margins

A slight uptick in fertilizer prices suggests that the market has moved past winter lows and is already anticipating seasonal demand shifts ahead of peak application season. Fertilizer prices remain lower than recent years, but lower crop prices will keep margins tight in 2024. Market analyst Jacqueline Holland provides an overview of the current fertilizer market conditions. – Farm Futures

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First insulin-producing cow

A project led by researchers from the University of Illinois Urbana-Champaign and the Universidade de São Paulo made history with the first transgenic cow capable of producing human insulin in her milk. Researchers inserted a segment of human DNA coding for proinsulin — the protein precursor of the active form of insulin — into cell nuclei of 10 cow embryos. The human DNA was targeted for expression in mammary tissue only. – Feedstuffs

Tyson to lay off 1,200 workers, shutter Iowa pork plant

Tyson Foods on Monday said it will close a pork plant in Perry, Iowa, which will result in the loss of 1,276 manufacturing jobs. This marks Tyson’s ninth closure since early 2023 as the company deals with weaker demand for meat and poultry. Despite the recent closures, Tyson is investing in other areas of its business where it sees higher growth potential. – Agriculture Dive

Drought persists across U.S.

The latest drought map released March 14 continues to show areas of extreme drought in Texas, New Mexico, Iowa and Montana. Parts of Illinois, Indiana, Ohio, Michigan, southern Missouri and southeast Kansas saw improving conditions after heavier rains. Meanwhile, moderate drought expanded in northwest Missouri and portions of Wisconsin, Minnesota, northwest Iowa, the far southern Michigan Upper Peninsula and far northeast Wisconsin. – U.S. Drought Monitor

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ADM struggles to bounce back

It took just one day for Archer-Daniels-Midland Co. to lose more than $8 billion in value following news of an investigation into its accounting practices earlier this year. The company spent billions to grow its nutrition unit, diversifying beyond corn, wheat and soybean trading has faltered. Experts say returning to stock-price levels seen earlier this year will take a while. – Bloomberg

After the fires: Texas Panhandle reflects and recovers

Some two weeks past the onset of the worst wildfire in Texas history, folks are trying to put ranches, residences and lives back together. “Mentally, it’s difficult. People are not moping and crying but many are having a hard time accepting what’s happened,” says Hemphill County AgriLife Extension Agent Andy Holloway. The fire burned more than a million acres and an estimated 15,000 head of cattle were lost.  – Southwest Farm Press

Read coverage following the Smokehouse Creek fire:

USDA finalizes Product of USA rule

Agriculture Secretary Tom Vilsack announced USDA has finalized a rule to align voluntary “Product of USA” labeling claims with consumers’ understanding of the term. The rule states the terms “Product of USA” or “Made in the USA” may only be used on meat, poultry and egg products derived from animals raised, slaughtered and processed in the United States. – Farm Progress

About the Author(s)

Rachel Schutte

Content Producer, Farm Futures

Rachel grew up in central Wisconsin and earned a B.S. in soil and crop science from the University of Wisconsin - Platteville. Before joining the Farm Futures team, Rachel spent time in the field as an agronomist before transitioning to the world of marketing and communications. She now resides in northeast Iowa where she enjoys raising bottle calves and farming corn and soybeans alongside her husband and his family.

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