Farm Progress

7 ag stories you can’t miss – March 15, 20247 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
Getty Images

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

031424_Illinois_production_costs.PNG

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

20240312_usdm.png

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

Rachel Schutte

Content Producer, Farm Futures

Rachel Schutte joined the Farm Progress team in 2021 as the content producer for Farm Futures. With a deep-rooted passion for agriculture and sustainability, Rachel brings a wealth of experience to her role. Before joining Farm Progress, she worked as a certified crop adviser at Insight FS and as communications manager for the American Society of Agronomy.

Growing up around her family's dairy farms in central Wisconsin, Rachel developed a firsthand understanding of the challenges and opportunities facing producers. This background fuels her dedication to delivering timely, accurate and relevant agricultural news to farmers across the country, ensuring they have the information they need to succeed amidst their busy schedules.

Rachel now resides in Northeast Iowa, where she farms corn and soybeans and raises cattle with her husband and his family. She embraces her creative side by running a hobby business growing flowers and crafting items she sells at local farmers markets and craft fairs. A graduate of the University of Wisconsin-Platteville, Rachel is currently pursuing her master's degree at West Virginia University.

Subscribe to receive top agriculture news
Be informed daily with these free e-newsletters

You May Also Like