Milk Prices Reach Record Highs:
There will be a little more in the milk check for most dairy producers this month. The base milk prices for August production are mostly higher than July and substantially higher than a year ago… Read More
Crop Conditions Continue to Decline; Pricing Remains Strong:
This afternoon, USDA released its weekly crop report and overall crop conditions continue to deteriorate as weather in various ag regions remains tough on yields… Read More
USDA Farm Income Report:
U.S. farm income will jump 31 percent this year to a record $103.6 billion because of higher crop and livestock prices, the government said… Read More
Food Prices Rise with Commodity Prices – Eventually:
Food prices will continue to rise for the remainder of this year and well into 2012 because processors now are beginning to pass along higher costs of commodities to consumers, a Purdue University agricultural economist says… Read More
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Top 50 Hottest Companies in Bioenergy:
Biofuels Digest has announced its “Top 50 Hottest Companies in Bioenergy” and this year’s top spot goes to Amyris, a renewable fuels and chemicals developer based in Florida… Read More
Truck Orders Gain 148%:
Orders for Class 8 trucks in North America soared to more than 26,000 in November, jumping at least 148% from a year ago and 38% from October, industry consultants said. “It is clear that we are in a recovery period for the new truck equipment market,” said Eric Starks, president of FTR Associates in Nashville, Ind., which released preliminary data on orders on Dec. 2… Read More
USDA Forecasts Record Farm Net Income:
The Economic Research Service of USDA has released its “Agricultural Income and Finance Outlook” report. The December 2010 report shows net farm income is forecast at $81.6 billion in 2010, up 31% from 2009 and 26% higher than the 10-year average of $64.8 billion for 2000 to 2009. Net cash income at $92.5 billion would be a nominal record, 2.3% above the prior record attained in 2008…Read More
U.S. Farmers Teach Afghanistan Farmers to Grow Soybeans:
American farmers help with the war on terror by teaching Afghanistan’s farmers to grow soybeans…Read More
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Posted in News, tagged 2010, farm, Income, News, USDA on September 2, 2010 |
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Agriculture continues to outperform in 2010 and be one of the bright spots in a very uncertain economy. The USDA now estimates that net farm income will rise 24% in 2010 due to higher returns for soybeans, cotton, and livestock producers. The department also raised its estimates of U.S. farm exports due to strong demand for U.S. grain due to the drought in Russia and Eastern Europe and China’s unexpected transition to a net corn importer.
“Today’s reports are encouraging news. They show that while American agriculture has struggled through difficult economic times…the hard work and resilience of America’s farmers and ranchers have helped put American agriculture on the road to recovery,” said Agriculture Secretary Tom Vilsack.
We see today’s report as a first step in the global agriculture boom. Rising farm income and cash receipts translates into more equipment purchases, higher fertilizer use, and the desire to increase production numbers.
Read the full article here on Agweb.com.
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