Farm Progress

7 ag stories you can’t miss – June 2, 2023

Catch up on the latest drought monitor, the bill to suspend the debt ceiling, summer cookout trends and more!

Rachel Schutte, Content Producer

June 2, 2023

2 Min Read
wheat field, capitol building and cattle
Getty Images

Did you miss some news this week? We’ve got you covered. Here’s a collection of the top headlines in agriculture.

Drought expands across the Heartland

The latest drought monitor map released May 30 shows abnormal dryness and drought spread across a large part of the Midwest and Northeast. Most of the U.S. received little or no precipitation. North central states and the Pacific Northwest will continue to have above-normal temperatures this week, while the Southern Plains and New England will experience cooler weather. – UNL Drought Monitor

Grilling season fires up

Grilling season has begun, and consumers should expect a mixed bag when it comes to meat options for summer cookouts, according to a Texas A&M AgriLife Extension Service expert. Consumers will likely see lower prices for some grilling favorites like pork spareribs and chicken wings, and higher prices on beef favorites like briskets and steaks. – Southwest Farm Press

Expect higher grain storage costs, wider basis

The cost of storing grain, commonly referred to as the cost of carry, has soared to record highs due to rising interest rates, high commodity prices and increasing costs for labor, insurance, transportation and energy according to a new CoBank report. If interest rates stay high and futures markets remain inverted, many grain cooperatives will lower bids and widen their basis to cover the high cost of storing commodities. – Farm Progress

Cargill to sell China poultry business

Cargill Inc. is selling its poultry farming and processing business in China to DCP Capital as weak demand and high costs continue to pressure industry profit margins. Poultry farming in China is struggling to make a profit with consumer demand weaker than expected as the country recovers from COVID and animal feed costs stay elevated. – Feedstuffs

El Niño weather pattern approaches

Forecasters expect an El Niño weather pattern to be seen in the Midwest by the end of summer and last throughout the winter. Dennis Todey, director of USDA’s Midwest Climate Hub, says a more moderate summer is likely, with longer-term drought in some areas and a moderate to good growing season for crops. – Wallaces Farmer

House and Senate approve debt limit deal

The House of Representatives and Senate both passed a bill this week to suspend the nation’s debt ceiling until Jan. 2025. The Fiscal Responsibility Act now heads to the president. Treasury Secretary Janet Yellen warns that if the debt ceiling is not raised by June 5, the federal government could begin defaulting on its financial obligations. – Farm Progress

Remembering Dave Brandt

Dave Brandt, a national pioneer in regenerative farming who lived on his farm in Fairfield County, Ohio, died May 21 after suffering injuries in a traffic crash in Illinois. He was recognized globally for his innovative testing with cover crop seed mixes, intercropping and no-till. It was his unwavering need to teach, to share his experiences and to help others that overwhelmingly shined through. – Ohio Farmer, Farm Futures

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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