The Energy Information Administration says ethanol output dropped to its lowest level in seven weeks, and inventories also fell during the week ending November 24.
The nation’s ranchers slashed the U.S. cattle herd to its lowest level in decades. As a result, the U.S. is importing record amounts of beef this year and exporting much less.
Foreign investment in U.S. ag land is a big topic. Based on 2021 data, USDA shows over 40 million acres of American ag lands are owned by foreign investors, or 3.1% of all privately held ag land and 1.8% of all U.S. land.
USDA’s latest Milk Production report shows production in the 24 major states during September totaled 17.5 billion pounds, down slightly from September of 22.