The 2019 hemp growing season saw impressive growth in planting and harvesting numbers compared to previous years. As more growers enter the space, however, there’s been a noticeable decline in the prices being paid for harvested hemp and its byproducts.
U.S. pork exports posted the best month on record in November, reaching new highs in both volume and value, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). November exports of U.S. beef were below the previous year's large totals.
A report from USDA and the Economic Research Service shows that growth in U.S. beef production has been supported by an increase in the average weight of cattle for beef production since 1970, despite a decrease in the overall number of cattle used in beef production.
The U.S. share of China's soybean imports has dropped to 10% in the 2018-2019 market year, while Brazil's share has grown to 77% in the same time period. Tariffs on U.S. soybean exports to China have heavily impacted the crop's imports to China.
So far, $10.3 billion of the $14.5 billion of USDA’s 2019 Market Facilitation Program has been paid out to farmers. According to Agri-Pulse, the ag agency will decide in January whether to issue the third part of the program.
According to official figures, China’s inventory of breeding sows rose 0.6% in October, as reported by Reuters. That is a first sign that pig production may soon start to recover after the African Swine Fever (ASF) outbreaks. The recovery was the first small increase since April 2018.
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In this week’s episode, we discuss improvements in dealer sentiment at the end of 2019 as well as producers likelihood to purchase farm equipment. From the Precision Farming Dealer Summit in St. Louis this week, Technology Editor Jack Zemlicka reports on how dealers can serve as consultants to their customers, particularly when it comes to technology. Also in this episode: Buhler Industries' revenues drop 25.7%, the Dallas Fed reports 4Q ag loan demand declines and farmland values are likely to hold steady in 2020.