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Global Feed Grain Production Forecast to Increase 5% in Marketing Year 2020-21

June 10, 2020 | Posted in Data & Trends

The global production of feed grains, which includes corn, sorghum, barley, and oats, is projected to reach a new record of 1.48 billion tons in marketing year 2020-21, up more than 5% from the previous year.

hired farm labor as a percentage of total cash expenses

Farm Labor Accounted for 39% of Total Cash Expenses for Speciality Crops in 2018

June 10, 2020 | Posted in Data & Trends

Specialty crop farms — which produce fruits, vegetables, and nursery crops — had the highest share of labor costs to total cash expenses in 2018 at 39%.

A Large Share of Land in USDA’s Conservation Reserve Program was Located in the Plains

June 8, 2020 | Posted in Data & Trends

As of January 2020, total CRP enrollment was 21.9 million acres, with a large share of that land located in the Plains (from Texas to Montana), where rainfall is limited and much of the land is subject to potentially severe wind erosion.

Growth in Pork Sales to China Led to Record U.S. Exports in 1Q20

June 4, 2020 | Posted in Data & Trends

Significantly larger pork sales to China boosted U.S. pork exports during first quarter 2020 to a record high volume of over 2 million pounds. Sales to China (including Hong Kong) were a record 597,000 pounds, up nearly fivefold, and more than 50% above earlier quarterly highs in 2008 and 2011.

Farmer Sentiment Rises Modestly in May

June 2, 2020 | Posted in Data & Trends

Farmer sentiment improved slightly in May after falling sharply in both March and April. The Purdue University-CME Group Ag Economy Barometer reading in May was 103, up 7 points from the April reading of 96. The barometer’s small improvement left the gauge of farmer sentiment nearly 40% below its February peak of 168.

Monthly Leasing and Finance Index Drops 7% in April

June 1, 2020 | Posted in Data & Trends

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for April was $8.2 billion, down 7% year-over-year from new business volume in April 2019.

Milk Sales Accounted for 49% of New York's 2018 Farm Sector Cash Receipts

May 28, 2020 | Posted in Data & Trends

In 2018, U.S. cash receipts for all commodities totaled $373 billion. New York contributed about 1% ($5 billion) of that total, ranking 27th among all States. Receipts from milk accounted for the largest share of cash receipts in New York, at 49% ($2.5 billion).

Labor & Harvest Made Up Almost Half of 2018 Lettuce Production Costs

May 27, 2020 | Posted in Data & Trends

Labor and harvest comprise nearly half of average total production costs for lettuce and more than one-third for fresh tomatoes, spinach and peaches. Rising wages and decreasing labor availability may combine to increase the costs to harvest the produce in a field.

KC Fed Ag Credit Survey: Initial Impact of COVID-19 Showing Up

May 20, 2020 | Posted in Data & Trends

Agricultural credit conditions in the Kansas City Fed’s Tenth District deteriorated at a slightly faster pace at the onset of developments related to COVID-19. The survey for the first quarter of 2020, distributed in mid-March, indicated a larger decline in farm income and loan repayment rates than in recent quarters.

Chicago Fed: 1Q20 Ag Credit Conditions Decline; Farmland Values Up 1%

May 18, 2020 | Posted in Data & Trends

“With the prices of most farm products dropping as the quarter ended, it’s not much of a surprise that key measures of [Seventh] District agricultural credit conditions deteriorated during the first quarter of 2020,” said David Oppedahl, senior business economist for the Federal Reserve Bank of Chicago in the May 2020 Ag Letter.

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Data & Trends
RSS

Global Feed Grain Production Forecast to Increase 5% in Marketing Year 2020-21

Farm Labor Accounted for 39% of Total Cash Expenses for Speciality Crops in 2018

A Large Share of Land in USDA’s Conservation Reserve Program was Located in the Plains

Growth in Pork Sales to China Led to Record U.S. Exports in 1Q20

Farmer Sentiment Rises Modestly in May

Monthly Leasing and Finance Index Drops 7% in April

Milk Sales Accounted for 49% of New York's 2018 Farm Sector Cash Receipts

Labor & Harvest Made Up Almost Half of 2018 Lettuce Production Costs

KC Fed Ag Credit Survey: Initial Impact of COVID-19 Showing Up

Chicago Fed: 1Q20 Ag Credit Conditions Decline; Farmland Values Up 1%

Get all things Ag Equipment Intelligence all the time!

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AGCO Reports $1.4 Billion in 2023 Tractor Revenue

New Holland Informs Dealers of Restructuring Details

Baltimore Port Closure: Tractor Imports & Exports Impacted, Deliveries Delayed

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[Technology Corner] Pessl Instruments CEO Talks Dealer Benefits From Lindsay Corp. Investment

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