Controversy has surrounded farmers using herbicides on food. Much created by people who have no farming experience at all. Continue reading →
Takes a lot of corn to satisfy Americans craving for popcorn. Continue reading →
Weather man Joe Bistardi provided a tweet today
Continue reading →
America is great at farming. For decades now country after country have visited American farmers
Via Indiana Economic Digest –
Gov. Mike Pence and Sen. Joe Donnelly are seeking a disaster declaration to help farmers whose crops have been damaged from the summer’s high rain levels.
In 50 counties, reported crop damage and losses have met or exceeded 30 percent of a crop, and three counties have experienced a significant number of damages and losses to multiple crops, according to a news release. Under a disaster designation, low-interest emergency loans will be made available to all producers suffering losses in that county, as well as in counties contiguous to a disaster-designated county.
The National Weather Service reports rains set a statewide June rainfall record with a state average of 8.99 inches. The previous record was 8.13 inches set in June 1958.
Steve Milloy over at JunkScience.com reminds
Continue reading →
Chipotle Mexcican Grill recently made headlines by going “GMO Free” on certain ingredients. I believe this announcement was more of a marketing ploy against the news in their recent financial statements. I’m not a big investor of restaurants in this day and age of the Federal Reserve printing money at a high rate and American beef in demand world wide. (Some investment advice, put your money not in the restaurant but with the beef farmer) Chipotle is hiking prices again on its customers. Within a one year time period prices on certain items will have increased 11-13%.
This write up came from TheStreet.com a week before their GMO announcement –
Chipotle stands to receive another jolt to the top line from another round of price increases. The company, which has historically been reluctant to lift prices, confirmed it will hike prices on steak and barbacoa in the third quarter by 4% to 6% in order to compensate for persistent beef inflation.
In the second quarter last year, Chipotle implemented an across-the-board menu price increase of about 7%, as it dealt with beef, dairy and avocado inflation. Same-restaurant sales growth accelerated soon after the menu price increases went into effect — after rising by 13.1% in the first quarter of last year, same-restaurant sales increased averaged 17.7% in the remaining three quarters.
One area of economic data I follow is where corn is being sold to. Recent data has pointed to farmers raising cattle which means an expanding beef market. I did some research and found this forecast at FarmandDairy.com:
U.S. Department of Agriculture semiannual report that cattle numbers have increased by slightly more than 1 percent following seven years of decline.
The most significant expansion has been in beef cows, which were up 2 percent from the previous year, the USDA said.
There were 610,000 new beef cows added nationally. Hurt said the expansion is likely to continue through most of this decade.
One reason for the expansion is prices farmers are getting for beef:
“These were led by record-high cattle prices in 2014 with finished cattle averaging near $155 per live hundredweight and Oklahoma 500-550 pound steer calves averaging $250,” Hurt said.