USDA is again lowering its expectations for milk production in 2022 as farmers milk fewer cows and milk per cow slows. In its March supply and demand report, USDA raised butter, cheese, nonfat dry milk, and whey prices for 2022 because of current prices, reduced production, and continued demand strength. The Class III and Class IV prices were raised because of higher product prices. The 2022 all milk price forecast […]
The Michigan FFA Convention is returning to Michigan State University’s campus this week to celebrate agricultural education and student leadership. State President Amara Jackson tells Brownfield the past year has incorporated virtual and in-person outreach for the organization. “We’ve learned so many resources about connection and that it doesn’t necessarily have to be in-person and because of that we’ve been able to keep our membership strong and keep our students […]
Matt Riggs accepts the Glen “GB” Brandt Prize for Ag Entrepreneurism The owner of an Illinois brewery says growing their own grain and processing it on the farm has him less concerned about the impact inflation will have on his business. Matt Riggs with Riggs Beer Company in Urbana, IL recently fulfilled his dream of running a brewery with grain sourced from his own farm. He tells Brownfield with inflation […]
The USDA raised its 2022 beef and turkey production projections, while cutting estimates for pork and chicken. Beef production is seen at 27.57 billion pounds, 195 million more than in February due to the slaughter pace for both fed and non-fed cattle, with an average price of $139.50 per hundredweight, $2 higher, and increases for imports, exports, and consumption. Pork production is expected to be 27.315 billion pounds, 65 million […]
The Association of Equipment Manufactures says the outlook for the construction and agriculture equipment industries is bright despite challenges. AEM Board Chair Bob Crain says “although there’s developing issues that could impact our industry, we feel optimistic that COVID’s retreat means a greater return to normalcy on our farms, in our factories, and in our homes.” Crain, who is also senior vice president of customer experience at AGCO, says supply […]
The USDA has increased its outlook for U.S. rice ending stocks, while leaving cotton unchanged from February. Rice ending stocks are projected at 34.5 million hundredweight, 1 million more than a month ago following a reduction in the export guess. The average farm price is estimated at $15.90 per hundredweight, up $.20. There were no changes to the domestic balance sheet for cotton, with an average estimated farm price for […]
Ohio Farm Bureau members are backing a bill that would help the next generation of farmers by removing barriers to entry and exit. Ross County Farm Bureau President Kaitlyn Meeker, a grain farmer from southern Ohio, says the bill would provide an incentive for owners who sell land or ag assets to beginning farmers. “It really bridges the gap between young farmers and older farmers,” she says. “It can […]
U.S. ethanol production and stocks both moved higher last week. The U.S. Energy Information Administration says production averaged 1.028 million barrels a day, up 31,000 on the week and 90,000 on the year. Iowa State University’s Center for Agricultural and Rural Development says margins moved higher last week, encouraging production, and the USDA says Midwest cash ethanol prices were higher. The Renewable Fuels Association says net inputs by refiners and […]
A market analyst warns farmers not to get caught up in how high corn and soybean prices might go. Angie Setzer with Consus ROI tells Brownfield it’s not worth trying to outguess the market. “Because they can go higher than we ever thought possible. But I’ve heard that numerous times in my career, and I can tell you that when it feels like we have to continue that next leg […]
