Rising prices, strong worldwide demand and more than $27.2 billion in government payments drove net farm income in the U.S. to $113 billion in 2021, its highest level in eight years. The outlook for 2022 depends on a range of market issues, including those outlined below. Remember, though, we continue to live in ”interesting times,” […]

Ripple effects of the COVID-19 pandemic continue to impact dairy farmers. In our last dairy article we touched upon the network of pandemic-related market conditions that triggered Dairy Margin Coverage payments for the seventh consecutive month. Unsurprisingly, shrunken margins persist and have, yet again, triggered DMC payments for the eighth, ninth and 10th consecutive months […]

Fall harvest continues across the countryside for the majority of principal crops. According to USDA-National Agricultural Statistics Service’s Crop Progress report, as of Oct. 24, farmers in 18 states that cover 96% of 2020 U.S. soybean acres have harvested 73% of soybean planted acres, which is less than the 82% reported at the same time […]

There has been a lot of discussion about inflation over the last six months, and for good reason. According to the Economic Research Service, the price of beef and veal in the CPI has risen 5.2% from January-August 2021 compared to the same period in 2020. The forecast range for the entirety of 2021 for […]

The USDA Farm Service Agency reports more than 18,900 operations, or 75% of all dairy farms with established production history, are enrolled in the Dairy Margin Coverage program for the 2021 calendar year. This is a 50% increase from the just over 50% of all dairy operations that were enrolled for 2020. Part of this […]

Impacts to Spring-Planted Crops Could Spiral into Fall-Planted Crops as Sept. 30 Crop Insurance Deadline Approaches The end-of-2020 surge in commodity prices capped what was already a tumultuous year. Corn prices in December 2020 reached $4.00 per bushel, the highest since 2013, and continue to rise, reaching above $5.00 per bushel. Soybean prices rose to […]

USDA-NASS’ June 30 Acreage Report is expected to update supply expectations, and analysts think weather uncertainties held producers back from indicating optimistic planting intentions in March The much-anticipated June 30 Acreage Report has the potential to shift commodities positively or negatively given the current conditions of grain markets. Looking back at 2019 and 2020, those […]

Drought’s Impact on Pasture and Rangeland Pasture and range conditions are starting the summer season off in a bad spot and unless most of the country sees much-needed moisture, it will only get worse. Virtually all of the Western U.S. is experiencing some level of drought conditions, with D4 (exceptional drought) and D3 (extreme drought) […]

To say 2020 was difficult for everyone is an understatement. One bright spot though for farmers was the massive global commodity buying spree at the end of the year. This unexpected increase in exports – particularly of corn and soybeans — pushed demand for U.S. commodities way up, bringing ending stocks for both commodities down […]

Though last month’s winter storm impacted the cattle and hog markets, recent declines in slaughter numbers are not tied solely to the weather. Fewer hogs available and surging demand have been underpinning hog and pork market values. When examining hog slaughter, strong January slaughter has been largely in line with the start of 2020, and […]