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)
You May Also Like