Farmers in the Midwest and Plains are reaping a cash bonanza that’s dramatically improved their finances a year after the pandemic pummeled commodity markets.
July exports of U.S. beef rebounded from recent lows but remained below 2019 levels, according to data released by USDA and compiled by the U.S. Meat Export Federation.
Farmers were asked to rate how satisfied they are with the midterm results with 64% saying they’re very satisfied or somewhat satisfied with the outcome.
Dicamba complaints are down. A story from agriculture.com says one thing farmers have started to appreciate is dicamba is not as forgiving as other herbicides.
China will be increasing imports of American agriculture and energy products and will seek to address U.S. protection concerns about intellectual property.
Farm income will drop to $59.5 billion, the lowest since 2006. Lenders don’t expect to see a repeat of bankruptcies that led to the 1980s U.S. farm crisis.
American farmers will produce record amounts of meat, poultry and milk this year. John Deere sales of ag and turf equipment are forecast to increase in 2018.