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NCGA ‘delighted’ by MAHA recommendations… Today the Make America Healthy Again Commission released its policy recommendations geared toward addressing chronic childhood disease. The report reflected NCGA’s recommendation of reinforcing the Environmental Protection Agency’s robust, globally respected pesticide review process. In response to this development, Illinois farmer and NCGA President Kenneth Hartman Jr., released the following statement:
“The policy recommendations related to crop production, released today by the MAHA Commission, appear to be a reasonable and science-based approach for achieving its objectives. We are encouraged that when the commission engaged with agricultural stakeholders and followed the science, it reaffirmed what we already know: EPA is the appropriate agency for regulating crop inputs. We are also delighted to see precision agriculture, soil health and land stewardship prioritized, as these are areas in which corn farmers have led the way for many years. We look forward to working with the administration and Congress as they turn to the implementation of the report.” -source: National Corn Growers Association Press Release
NCBA lauds MAHA views on beef… Today, the National Cattlemen’s Beef Association welcomed the release of the Make America Healthy Again (MAHA) Commission’s second report. In May, the MAHA Commission’s first report highlighted the positive role beef plays in a healthy diet. Today, the second report expanded on the benefits of high-quality protein like beef and the critical role cattle producers play in helping make America healthy again.
“From every angle, it is tough to beat American beef. Our farmers and ranchers raise the best beef in the world, providing a healthy, fresh protein option to millions of families every day,” said NCBA President and cattle producer Buck Wehrbein. “We responsibly steward millions of acres of land, water, and wildlife habitat, including some of America’s most cherished landscapes and species. We pump lifeblood into the local economies of tens of thousands of communities across the rural American heartland. No matter how you look at it, American beef is the perfect fit for the MAHA Commission’s goals.” -source: National Cattleman’s Beef Association Press Release
The dry get dryer… There was widespread degradation of drought conditions across areas of the Midwest, Mid-Atlantic, and Northeast, according to the most recent U.S. Drought Monitor. The Lower Midwest saw some of the largest rainfall deficits, ranging from 3 to 5 inches. Short-term dryness and drought impact reports from the agricultural sector led to degradations in isolated areas of the Southeast and South.
For the week, most of the eastern half of the U.S. experienced unseasonably cooler temperatures, while temperatures out West were above normal, especially across the Pacific Northwest and Desert Southwest. The temperature outlook shows above normal temperatures for much of the Midwest and High Plains, while the East and West coasts are expected to be below normal.
North Dakota farmers seeking a market… As farmers prepare to harvest what may be a record-large soybean crop, their largest export customer has yet to make a buy. Without a deal with China, North Dakota farmers may not get a bid for their soybeans. According to North Dakota Soybean Council Chair Jim Thompson, the local cash market is pushing growers to store their beans. North Dakota Soybean Growers Association President Justin Sherlock says the trade dispute with China needs to end.
“Maybe it’s getting an interim trade deal with a country like China so we have somewhere to just physically move and sell those soybeans,” said Sherlock. He said farmers want the export markets restored first. “We just need to get rid of the crop right now, then we can figure out where we’re at financially as we go into the winter months and loan renewal season.”
House re-ups grain inspection legislation… On Monday the U.S. House passed a five-year reauthorization of USDA’s grain inspection program. The bipartisan United States Grain Standards Reauthorization Act includes some updates to the existing law, which expires Sept. 30, that are aimed in part at promoting new technology. The bill would require USDA to prioritize the adoption of improved grain grading technology to enable the efficient, accurate, and consistent grading of grain, and the legislation would exempt equipment and technology costs from a 30% cap on administrative and supervisory expenses that may be incurred under the law.
The cap is intended to limit the overall cost of the program. The president and CEO of the National Grain and Feed Association, Mike Seyfert, called the legislation “a must-pass bill for the entire grain value chain.”
Notable closes…
Technical selling dominated the cattle complex. However – last week’s setback in the cash cattle market and President Trump’s comments that “beef prices will go lower” have created anxiety.
- October live cattle were $5.62 ½ lower at $230.17 ½
- December live cattle $6.40 lower at $231.17 ½
- October feeders were down $9.25 to $349.92 ½.
Strength in the pork cutout market lifted front-month hogs while back month futures were pressured by losses in the cattle complex.
- October hogs up 97 ½ to $96.12 ½
- December hogs down 30 cents to $87.85