Ag News: U.S. Vs Ag Economy
**The U.S. economy may be doing well, but the ag economy shows few signs of an imminent comeback.
That’s according to the 2019 outlook report from CoBank’s Knowledge Exchange division. It says trade uncertainty, rising debt levels, and market volatility are threatening to derail the global economy.
Agweb.com reports, the report says rising costs in agriculture are expected to squeeze producers and that will cause further margin erosion and financial stress.
A silver lining may be the 50% chance of a trade deal being struck with China.
**As January winds down, businesses across the country are preparing 1099s.
Paul Neiffer, principal and CPA with accounting firm CliftonLarsonAllen, tells agweb.com most farmers aren’t 100% sure who they should be sending 1099s to.
He says farmers should file 1099s for all landlords paid $600 or more, machine rentals in excess of $600, and services in excess of $600 provided by anyone who is not your employee.
S and C corporations are exempt.
The deadline for filing is tomorrow, January 31st.
**A new survey shows consumers are confused about whether plant-based imitation dairy products are indeed dairy foods and whether they carry the same nutritional value.
Agwired.com reports, the research evaluated three plant-based foods that mimic dairy cheese to understand if the packaging and descriptions are confusing.
The Ravel survey was commissioned by Wisconsin Cheese Makers Association, Dairy Farmers of Wisconsin, and Edge Dairy Farmer Cooperative.