August 2, 2019
Need a quick catch up on the ag news of the week? Here are seven stories you might have missed.
1. President Trump will impose a new 10% tariff on $300 billion worth of products imported from China beginning Sept. 1, saying China had failed to follow through on promises to buy more ag products and to curb the sale of fentanyl in the U.S. – NPR
2. Mike Conaway, ranking member of the House Agriculture Committee, announced this week he will not seek re-election in 2020. The Texas congressman is serving his eighth term. – Farm Futures
3. Delinquency rates for commercial agricultural loans in both the real estate and non-real estate lending sectors are at a six-year high. The first quarter of 2013 is the last time delinquency rates were this high for commercial lenders. – American Farm Bureau Federation
4. The real estate market for cropland remained fairly stable in Iowa, Nebraska and South Dakota in the first half of 2019, according to a Farm Credit Services of America report. The value of 64 benchmark farms tracked declined an average of .59% in the first six months of 2019. – Wallaces Farmer
5. A record-breaking wet spring continues to challenge growers and agribusinesses. James Collins, CEO of Corteva, said “it’s difficult to overstate how challenging this year has been.” – The Wall Street Journal
6. The July Class III milk price will be near $17.40, up about $3.50 from February, according to Bob Cropp, University of Wisconsin-Madison dairy economist. Milk prices are rising because milk production is lower than it was a year ago and there has been modest growth in dairy product sales. – Wisconsin Agriculturalist
7. More than half of the Trump administration’s trade-war aid for farmers went to one-tenth of the recipients, according to an analysis by the Environmental Working Group, which analyzed records is obtained through the Freedom of Information Act covering $8.4 billion in payments. – Bloomberg
And your bonus.
Brett Davis, vice president of New Holland North America, says the company’s forage tools are the core of the New Holland brand. Developing unique solutions for customers is what will position New Holland for long-term success, Davis said. – American Agriculturalist
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