senate

Top Senate Ag Democrat Releases Trump Budget Fact Sheet

Dan Economy, Industry News Release

A fact sheet released by the Senate Agriculture Committee’s Ranking Democrat highlights the expected impact of President Donald Trump’s proposed budget on agriculture. The fact sheet claims that President Trump is “turning his back on rural America.” Released by Senate Democrat Debbie Stabenow’s office, the fact sheet says cuts included in the proposal to crop insurance and the Supplemental Nutrition …

farm economy

Experts Expect Down Farm Economy to Continue

Dan Economy, Industry News Release

A financial expert forecasted to lawmakers Thursday the current agriculture economic conditions will continue. During a Senate Agriculture Committee on the rural economy, Nathan Kauffman of the Federal Reserve Bank of Kansas City informed the committee that a farm crisis does not appear imminent, but there are still risks that could lead to more widespread challenges in the coming years. …

Ag Groups Respond to White House Budget Cuts

Dan Economy, Funding, Industry News Release

President Trump’s Budget is an Assault on the Farm Safety Net and Rural Communities, National Farmers Union Says President Donald J. Trump issued the detailed fiscal year 2018 federal budget proposal, recommending drastic cuts to agricultural and rural related agencies and programs. The proposal would cut Farm Bill programs by nearly $230 billion and slash the U.S. Department of Agriculture …

senate

Senate Ag to Hold Farm Economy Hearing

Dan Economy, Industry News Release

The Senate Agriculture Committee will hold a hearing on the farm economy conditions Thursday, May 25th. Announced by leadership of the committee, Senators Pat Roberts, and Debbie Stabenow, the hearing is titled “Examining the Farm Economy: Perspectives on Rural America.” The hearing is recognized as the start of the Senate Agriculture Committee farm bill hearings. It follows two “boots on …

budget cuts trump

Trump Plan to Balance Budget Includes Farm Subsidy Cuts

Dan Economy, Industry News Release

A budget plan President Donald Trump is expected to submit to Congress Tuesday includes steep cuts to farm subsidies, according to Bloomberg News. The 2018 budget proposal, which would begin the process of balancing the budget within ten years, would make cuts to mandatory spending on an array of social programs while sparing the Social Security and Medicare entitlement programs. …

dire straits

Perdue: U.S. Ag in Dire Straits

Dan Economy, Industry News Release, Trade

Sonny Perdue made his first appearance before the House Agriculture Committee this week as Secretary of Agriculture. He says the current U.S. agricultural economy is in “ dire straits ” but that could be helped by a stronger trade presence abroad. Perdue says he sees challenges ahead as President Trump’s initial budget cuts the USDA allocation by 21 percent. “We’ve …

tax reform

Tax Reform Central to Improving Economy

Dan Economy, Industry News Release

Farmers and ranchers need the economic benefits that will follow from tax reform, the American Farm Bureau Federation told Congress in testimony submitted to the House Ways and Means Committee. Weather, high debt-service, a lack of liquidity and the difficulties of passing on land from one generation to the next all make taxation an important issue for farmers and ranchers. …

farmers union

Farmers Union Confronts the Farm Crisis

Dan Economy, Industry News Release

The national farm economy is deteriorating, forcing many family farmers and ranchers to make tough financial decisions that will impact their families, communities, and the entire country. In order to provide farmers with the resources and support needed to endure these tough economic conditions, National Farmers Union (NFU) and Farmers Union state divisions have compiled resources, organized listening sessions, and …

rural economy

Secretary Perdue to Attend House Ag Committee Hearing on Rural Economy

Dan Economy, Industry News Release

Agriculture Secretary Sonny Perdue will take part in a House Agriculture Committee hearing next week on the rural economy. The House Agriculture Committee will hold the hearing next Wednesday, May 17th. The hearing seeks testimony on how the rural and farm economy is holding up amid a downturn in farm income and commodity prices. House Agriculture Committee Chairman Mike Conaway …

farm

Ag Lender Survey: Farm Profitability Down, Commodity Prices Top Concern

Dan Economy, Industry News Release

ABA and Farmer Mac release first biannual survey of agricultural lenders Nearly 90 percent of agricultural lenders have seen an overall decline in farm profitability in the last 12 months, according to a joint survey by the American Bankers Association and the Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A). The survey of more than 350 agricultural lenders …

producer sentiment

Ag Producer Sentiment Inches Higher in April

Dan Economy, Industry News Release

By Jim Mintert, David Widmar and Michael Langemeier Purdue University/CME Group Producer sentiment inched higher during April as the Ag Economy Barometer increased to 130. The latest result for the Purdue/CME Group Ag Economy Barometer, which is based on a monthly survey of 400 U.S. agricultural producers, was slightly higher than March’s 124 reading, but still well below January’s peak …

rural

Rural Economy Index Lower Again

Dan Economy, Industry News Release

The Creighton University Rural Mainstreet Index remained weak with a reading below growth neutral for the 20th straight month, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and energy. Released last week, the index which ranges between 0 and 100, slipped to 44.6 from 45.3 in March. The last time …

dtn

Ag Confidence Grows as Latest DTN/PF Survey Suggests Strong Future

Dan Economy, Industry News Release 1 Comment

Farmers, ranchers remain concerned on current conditions; optimistic about future Despite continued flat commodity prices, attitudes of U.S. farmers took a solid leap into positive territory, according to the most recent DTN/The Progressive Farmer (DTN/PF) Agricultural Confidence Index (ACI). The survey, which tracks farmer opinions of their current and future conditions, had an overall score of 130, a significant improvement …

USDA: Agriculture a $992 Billion Economic Factor

Dan Economy, Industry News Release 2 Comments

Data by the Department of Agriculture shows agriculture and agriculture-related industries contributed $992 billion to the U.S. gross domestic product in 2015, a 5.5-percent share, the most recent USDA statistics.The output of America’s farms contributed $136.7 billion of this sum, about one percent of GDP. USDA says the overall contribution of the agriculture sector to GDP is larger than that …

Farm Sector Working Capital to Decrease in 2017

Taylor Hillman Economy, Industry News Release 0 Comments

Farm financial liquidity describes how easily members of the farm sector can convert assets to cash in order to meet short term debt obligations. One measure of liquidity is working capital, which is the difference between current assets like cash and inventory, and short term debt. Higher working capital means much better financial health for the farm sector. The USDA …