rural

Secretary Perdue Hosts Inaugural Rural Prosperity Task Force Meeting

Dan Economy, Industry News Release

Task Force showcases broad interagency support for promoting economic growth and spurring innovation in rural America U.S. Secretary of Agriculture Sonny Perdue hosted the inaugural meeting of the Interagency Task Force on Agriculture and Rural Prosperity. Joined by Secretary of Housing and Urban Development Ben Carson, Secretary of Energy Rick Perry, Director of the White House Office of Management and …

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. …

Rural Mainstreet Index Improving

Dan Economy, Industry News Release 2 Comments

Rural Mainstreet Climbs to Highest Level Since September 2015: But Only 15 Percent Report Expanding Economy February Survey Results at a Glance: * The overall index, while remaining below growth neutral, rose to its highest level since September 2015. * More than one-third of bank CEOs reported their local economy remains in an economic downturn.  Only 14.9 percent of bankers indicated their local …

national cotton council economic outlook

NCC Releases Economic Outlook

Dan Cotton, Industry News Release 2 Comments

Demand Growth, China’s Reserve Auctions and Global Supply Response Hold Keys for the Coming Year National Cotton Council economists point to a number of key questions that will shape the 2017 economic outlook for the U.S. cotton industry. In recent months, cotton prices have maintained a stronger appearance despite: 1) concerns about world demand, 2) Chinese imports below historical levels, 3) …

Net Farm Income Expected to Dip further in 2017

Dan Economy, Industry News Release 2 Comments

Highlights From the February 2017 Farm Income Forecast Farm sector profitability measures are mixed for 2017. A narrow cash-based measure, net cash farm income, is forecast to rise by $1.6 billion to $93.5 billion from the 2016 value, an increase of 1.8 percent. In contrast, net farm income is forecast to decline by 8.7 percent to $62.3 billion, the fourth …

rural economy

Inflation Up, Food Prices Unchanged

Dan Economy, Industry News Release 2 Comments

Overall inflation over the last 12 months increased 2.1 percent, but food prices remain unchanged. The U.S. Bureau of Labor Statistics’ Consumer Price Index for All Urban Consumers was up .3 percent in December, with gasoline prices up three percent. But the food-at-home index fell 0.2 percent, its eighth consecutive decrease that reflects an overall 0.2 percent decrease over the …

agriculture

Is 2017 A Turnaround Year For Farmers

Dan Economy, Industry News Release 1 Comment

At least one company is predicting 2017 to be something of a turnaround year for farmers. An Ag Web Dot Com article says 2017 could see a “global supply pullback” that may give farmers some relief from lower commodity prices. MetLife Agricultural Finance says, “We expect a recovery in 2017 as global consumption rises and corn and soybean supplies decline.” …

food costs

Falling Food Prices Hurt Farm Belt

Dan General 2 Comments

The U.S. is on pace to continue the longest stretch of falling food prices in over 50 years. While the lower prices are a boon to shoppers, it’s putting serious pressure on the farm economy. The Wall Street Journal says reasons behind the lower prices start with excess production in several ag sectors, including dairy, meats, grains, and other staples.