Agriculture

The National Cattlemen’s Beef Association was recently notified that Humane Society of the United States (HSUS) attorneys have filed a lawsuit against USDA’s Office of Inspector General (OIG) on behalf of the Organization for Competitive Markets (OCM). This lawsuit seeks to divide the beef industry against itself by opening old wounds and weakening the beef checkoff as HSUS drives toward its ultimate goal of ending animal agriculture.
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One of Canada’s largest cattle feeder operations is shutting down, blaming market forces currently rocking the feedlot sector as well as what it calls Alberta’s “poor political and economic environment.”  Meanwhile, Alberta’s minister of agriculture and forestry says he was surprised by the move, expressing disappointment at the looming job losses but insisting the industry remains strong.  President and CEO Dave Plett said in an interview that the majority of Western’s approximately 85 employees will eventually be laid off, and the company has “teams working now to assist them with transit [node:read-more:link]

Strong second-half U.S. pork production, coupled with increases in beef and poultry supplies, is expected to result in lower hog prices, pressuring producer margins despite lower feed costs. [node:read-more:link]

Ohio attorneys were assured by the state's high court they could assist medical marijuana clients under the new law.  A non-binding advisory opinion issued in August suggested Ohio lawyers couldn't advise medical marijuana businesses and patients under the state's professional conduct standards because the substance remains illegal federally. [node:read-more:link]

The European Commission authorized 11 varieties of genetically modified maize produced by Syngenta Crop Protection for use as food or feed. The authorization, which does not cover cultivation, is valid for 10 years and any products with the GM maize strains are subject to labeling and traceability rules.  The Commission stepped in with a decision after the EU’s member states failed to produce an opinion. [node:read-more:link]

Legislation to fix an unintended consequence of a law enacted earlier this year to modernize the horse racing industry that has held up Pennsylvania Breeders Fund payouts to the thoroughbred horse breeders and owners won House Agriculture and Rural Affairs Committee approval. House Bill 2303, sponsored by Rep. [node:read-more:link]

U.S. produce suppliers risk being left behind in key emerging markets if Congress fails to approve the Trans Pacific Partnership, a leading trade official told industry leaders.  [node:read-more:link]

As was forecast, working capital on farms decreased during 2015. Given 2016 income prospects, further decreases in working capital should be expected. At the end of 2016, most of the working capital reserves built during high-income years from 2007 to 2013 will be gone. Working capital levels will again be at levels comparable to 1996 through 2006. In 2015 and 2016, working capital reserves were used to fund cash flow shortfalls coming from operations. If prices remain low through 2017, means other than reducing working capital likely will be needed to address cash shortfalls. [node:read-more:link]

Big corporations are having a hard time competing. And it’s costing them money. Now they need to consolidate. I feel so bad for them. Speaking as a farmer I know how tough it can be when returns don’t total enough to pay expenses. And I know Monsanto, Syngenta, Dow, DuPont, BASF, and Bayer have my best interests at heart. That’s why they kept raising prices on their patented seeds and pesticides even after prices of wheat corn and soybeans had sunk below green into red. Perhaps it was meant to give me hope–and some heavy expenses I could write off my taxes. [node:read-more:link]

The Association of Equipment Manufacturers (AEM) and the Equipment Dealers Association (EDA) have released the results of surveys each organization conducted with their members about the levels of new and used agriculture equipment inventory currently on the market.  AEM's data results revealed that, since 2014, the ag equipment manufacturers surveyed believe that new and used inventory levels are decreasing overall. This trend is consistent with EDA's ag equipment dealer survey results for the second quarter of 2016. [node:read-more:link]