New California Reservoir and Ag Debt Consolidation
**The plan to build California’s first new major reservoir in decades is advancing as the state considers whether to issue a water-right permit.
The proposed Sites Reservoir is an off-stream water storage project that could store up to 1.5 million acre-feet annually.
The California State Water Resources Control Board has begun a public hearing process on the project’s water-right permit application.
Stakeholders are urging the approval of the permit to advance the project.
**The USDA launched a Debt Consolidation Tool that gives ag producers a new way to evaluate potential savings.
FSA Administrator Zach Ducheneaux says providing options for restructuring their debt to better meet the goals of their operations is the best way to ensure our farmers and ranchers build financial equity and resilience.
By combining eligible debts into a single, larger loan, farmers may get more favorable payment terms.
**USDA's Economic Research Service reports retail fresh beef prices reached $8.15 per pound, the first time over $8.
As for why, www.agrimarketing.com reports, the U.S. cattle inventory has reached seriously low levels providing little incentive for farmers to grow the herd again.
From a business standpoint it makes no sense to enter the business while the price of cattle and supplies are so high, along with market uncertainty, have become obstacles to profitability.
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