David Oppedahl, a Senior Business Economist at the Chicago Fed, explained in The AgLetter that, “District agricultural land values were the same in the first quarter of 2019 as in the first quarter of 2018, although they did move up 1 percent from the fourth quarter of 2018. Indiana and Iowa saw year-over-year decreases in farmland values, while Illinois and Wisconsin saw no changes.” [node:read-more:link]
Alton, Ill., a tourist town on the edge of the Mississippi River, has been fighting floods about every eight months for the last six years. This week’s crest, which ranked No. 7 among the city’s 10 worst floods, forced the closure of the city’s riverboat casino, left its riverfront park underwater and closed portions of its downtown. Mayor Brant Walker said the 100-year floods that communities like his are seeing every two years underscore the need for an approach that tackles the problem across the entire river system. [node:read-more:link]
A jury handed an unparalleled $2.055 billion verdict in favor of a couple in California who say their cancer was caused by long-term exposure to Monsanto's popular weed killer Roundup, according to the plaintiffs' attorneys.The verdict in Oakland includes more than $55 million in compensatory damages to the couple and $2 billion in punitive damages, a statement said.The verdict "is as clear of a statement as you can get that they need to change what they're doing," one of the plaintiffs' attorneys, Brent Wisner, told reporters Monday. [node:read-more:link]
According to a report recently released by the USDA’s Economic Research Service (ERS), U.S. farmers and ranchers earn just 14.6 cents for every dollar American consumers spend on food. This value marks a 17% drop since 2011 and marks the smallest portion of the American food dollar that farmers have received since the USDA began reporting this data in 1993. The remaining 85.4 cents cover off-farm costs, including processing, wholesaling, distribution, marketing, and retailing. [node:read-more:link]
US Agriculture Secretary Sonny Perdue said on Friday (May 10) that US President Donald Trump had asked him to create a plan to help American farmers cope with the heavy impact on agriculture of the trade war with China. A new aid program would be the second round of assistance for farmers, after the US Department of Agriculture’s US$12 billion plan last year to compensate for lower prices for farm goods and lost sales stemming from trade disputes with China and other nations. [node:read-more:link]
Carroll says project will involve unspecified millions in capital investment, and thousands of people involved, including participation from federal, state, local and private contributions. [node:read-more:link]
In a year where state officials are paying increased attention to a depressed farm economy, the Pennsylvania Senate gave unanimous approval Tuesday to a set of bills they hope can help. [node:read-more:link]
A majority of bankers across the District continued to report decreases in farm income during the first quarter. Despite a slight improvement in livestock prices toward the end of the period, the pace of decline in farm income quickened slightly from a year ago and from the prior quarter (Chart 1). A similar pace of decline also was expected in coming months. However, significant increases in hog prices in the final weeks of the quarter and into April improved revenues for some operations in the livestock sector. [node:read-more:link]
An Iowa egg farm that killed millions of chickens because of a 2015 bird flu outbreak is suing companies hired by the federal government to disinfect barns. Sunrise Farms says the chlorine dioxide gas and heat treatments used to kill the virus destroyed barn equipment, electrical wiring, production equipment and water lines. The company also says the structural integrity of its barns was diminished.The farm near the northwest Iowa town of Harris housed more than 4 million egg-laying hens.The farm confirmed on April 19, 2015, that its birds had the deadly strain of H5N2 bird flu. [node:read-more:link]
Sanford Bishop and Sonny Perdue go way back. So far back that Bishop, now a 14-term, Democratic congressman from south Georgia, remembers when Perdue, now the Secretary of Agriculture under President Donald J. Trump, was a Democrat.Their friendship was tested April 9 when Perdue appeared before the House Appropriations ag subcommittee to defend the president’s 2020 budget request for the U.S. Department of Agriculture (USDA). [node:read-more:link]
