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On-farm economic conditions deteriorate more than expected

Agricultural bankers reported that farm income had declined in the third quarter of 2018 and that farm household spending and capital expenditures remained below levels compared with a year ago, according to the latest Agricultural Finance Monitor published by the Federal Reserve Bank of St. Louis. The number of bankers reporting third-quarter declines was larger than three months ago and they expect farm income and expenditures to decline again in the fourth quarter. [node:read-more:link]

Federal report shows farm income on the decline

A report by the St. Louis Federal Reserve Bank says farm income is continuing to decline within its district. The Fed says the third-quarter report released this week was the 19th straight survey in which most bankers indicated that farm income was on the decline. Bankers also were slightly less optimistic looking ahead, citing concerns over low prices for crops.Soybean prices have dropped significantly since July, when the Chinese government imposed tariffs on imports of soybeans.Bankers reported a 2.5 percent increase in crop land prices. [node:read-more:link]

Iowa site eyed for new beef packing plant

Local chamber of commerce members reportedly are working with an unidentified, out-of-state developer on a project that would create about 70 jobs. The city council’s action returns the land now owned by Crystal Distribution Services to the zoning in place when Rath Packing Co. operated a pork plant there. Rath went bankrupt in 1985. [node:read-more:link]

Pa.’s Hunters Sharing the Harvest sets record for donations

Now in its 27th season, the non-profit charity Hunters Sharing the Harvest (HSH) helps to coordinate the donation, processing, and distribution of venison to Pennsylvanians facing food insecurity. According to a press release, HSH has donated 1,356,281 pounds of venison to the hungry since 1991. The Department of Agriculture partners with HSH to cover some of the costs of processing the meat, with the department increasing its share of financial support over the last two years due to increased deer donations. With continued support from Gov. [node:read-more:link]

Recreational marijuana is now on sale in Massachusetts

Recreational marijuana is now for sale on the East Coast.Massachusetts became the first state east of the Mississippi to legally sell recreational weed Tuesday as two marijuana dispensaries opened to the public more than two years after voters approved its use.The two dispensaries are Cultivate Holdings in Leicester and New England Treatment Access in Northampton, located in the central and western parts of the state, respectively."To get here, licensees underwent thorough background checks, passed multiple inspections, and had their products tested, all to ensure public health and safety a [node:read-more:link]

Activist video targets Amick Farms, line speeds

Animal rights group Compassion Over Killing (COK) is using an undercover video that was apparently filmed at the Amick Farms poultry processing plant in Hurlock, Maryland, as a platform to pressure the U.S. Department of Agriculture to lower the maximum allowable line speeds at U.S. poultry plants. The video was filmed by an animal rights activist who obtained employment at the plant.In the video, some scenes of animal mistreatment are shown. [node:read-more:link]

TVA Seeks Input On Potential Coal Plant Closures

The Tennessee Valley Authority (TVA) is asking for public input on a review of the potential environmental and socioeconomic impacts of closing the Bull Run and Paradise coal plants. Bull Run, located in Anderson County, Tenn., is a single-generator, coal-fired power plant. Paradise, located near Drakesboro, Ky., has one coal-fired generator still operating, Unit 3. Two other coal-fired units at Paradise were retired when a new natural gas plant began operating at the site in 2017, says TVA. [node:read-more:link]

Dairy Cow Prices Drop

USDA’s National Agricultural Statistics Service surveys producers on dairy cow prices quarterly (published in their Agricultural Prices report). The latest release was for the third quarter. Data are collected only for cows sold to be used as dairy herd replacement purposes, the national number is calculated by weighting state values by cow inventory. Nationally, for the quarter ending October 1, 2018, the average cow price was $1230.00, a drop from the prior quarter of $90.00 (down 7%). Yearover-year the decline was $380.00 per cow (fell by 24%). [node:read-more:link]

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