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November 10, 2019
After the USDA and White House announced the 2019 MFP program, we noted that direct government payments were set to soar in 2019. The USDA’s most recent estimate is for $19.5 billion in total direct farm payments is more than $5.5 billion higher than 2018. For context, the USDA’s initial estimated 2019 direct payments $2.5 […]
November 4, 2019
by Brent Gloy and David Widmar With farm income remaining depressed, managers are keenly focused on ways to improve their efficiency and cost competitiveness. Examining their investment in farm equipment is undoubtedly one area that deserves attention. Farm equipment generates a significant portion of the costs associated with farming. In our experience, they are also […]
October 28, 2019
In recent weeks there have been stories circulated about large U.S. inventories of bacon. Specifically, it was noted that frozen inventories were at 40-years highs. This caught our attention as it seemed the U.S. was running out of bacon (as inventories reached 50-year lows) just a few years ago. What is going on? This week’s […]
October 21, 2019
Farm debt has received increased attention in recent years. Over the last two decades, farm debt has trended higher – approaching levels last observed in the 1980s. Even as farm income has turned higher, producers are still relying on higher levels of debt. Offsetting some of the challenges of high debt levels have been low-interest […]
October 14, 2019
Fertilizer prices dramatically increased last Spring. After anhydrous ammonia spent most of 2018 around $500 per ton, prices jumped to more than $600 per ton in early 2019. Prices remained mostly unchanged until late summer. This week’s post reviews the latest fertilizer price data.
October 7, 2019
Winter wheat planting has started for many producers across the county. While the 2020 acreage debate won’t reach a fever pitch until sometime in March, wheat acres are a critical first mover. Wheat acres, of course, have been in a downward spiral in recent years, pushing more corn and soybean into production. What does wheat […]