Did you miss some information this week? We’ve obtained you lined. Right here’s a group of the highest headlines in agriculture for the primary week of the yr.
John Deere unveils ExactShot
John Could, CEO and chairman of John Deere, took the stage at CES 2023 to focus on know-how advances in agriculture. On the occasion, the corporate additionally introduced its latest know-how, ExactShot, which is able to apply starter fertilizer at scale with speeds as much as 10 mph and solely the place seeds are planted. – Farm Trade Information
Stabenow passes the torch
Senator Debbie Stabenow, D-Mich., introduced immediately that she is not going to search re-election and can depart the U.S. Senate on the finish of her time period on Jan. 3, 2025. Stabenow presently serves because the chair of the agriculture committee. For the subsequent two years, Stabenow mentioned she is going to deal with persevering with to enhance the lives of Michiganders and main the passage of the subsequent farm invoice. – Farm Progress
Farm labor markets tighten
Within the final 22 years, the inflation-adjusted hourly wage charge of employed farm employees elevated 28%. Will increase have been noticed throughout your complete ag sector, suggesting the tightening of farm labor markets. Producers are combating the labor crunch by hiring international farm employees, lowering labor wants via mechanization, or in some circumstances, reducing manufacturing of labor-intensive crops. – USDA ERS
Farmer sentiment ends 2022 sturdy
Producer sentiment improved sharply in December on sturdy year-end earnings estimates. The Purdue College-CME Group Ag Economic system Barometer Index ended the yr at 126, the best studying of the yr and 24 factors larger than November. Farmers had been extra optimistic about their present monetary conditions after penciling out the yr following a profitable harvest for a lot of. – Farm Progress
Esteban sworn in as Underneath Secretary for Meals Security
After greater than a yr of ready, Jose Emilio Esteban was sworn in as the brand new USDA Underneath Secretary for Meals Security. He replaces Mindy Brashers, who left in Jan. 2021. The Underneath Secretary ensures the security and correct labeling of American meat, poultry and egg merchandise, and carries out the federal authorities’s meals security priorities. – Farm Progress
Land values resist rate of interest hikes
Land sale costs elevated 20-34% year-over-year throughout the Corn Belt in 2022, setting new data in lots of states. Simply as land values rose, the Fed issued a collection of seven aggressive rate of interest hikes in an effort to curb inflation. Nonetheless, consultants anticipate land values to remain sturdy this yr with sturdy commodity costs and a constructive farm financial system. – Farm Progress
Declining beef manufacturing
Excessive enter prices and climate situations have led to a lower within the cow herd throughout the nation. This yr, beef manufacturing will likely be 7% decrease than in 2020 – the bottom in 44 years. “Each particular person in America may have 3 kilos much less of beef to eat than final yr,” says Brett Stuart, president of World AgriTrends. – Wallaces Farmer
