READ the NAFB’s National Ag News for Friday, August 6th
Sponsored by the American Farm Bureau Federation
USDA Launching Market News Reports based on Livestock Mandatory Reporting
The Department of Agriculture Thursday announced two new USDA Market News Reports based on Livestock Mandatory Reporting data. The reports will provide additional insight into formula cattle trades and help promote fair and competitive markets, and stems from a recent executive order on competition. USDA will release the first new report, the National Daily Direct Formula Base Cattle, this coming Monday, and the second report, the National Weekly Cattle Net Price Distribution, this coming Tuesday. The National Daily Direct Formula Base Cattle reports will enable producers to see the correlation between the negotiated trade and reported formula base prices. The weekly and monthly formula base reports will be both national and regional in scope and include forward contract base purchase information. The National Weekly Cattle Net Price Distribution report will show at what levels, price and volume, trade occurred across the weekly weighted average price for each purchase type – negotiated, negotiated grid, formula and forward contract.
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Farm, Biofuels Groups: Biofuels Can Help Reach 2030 Zero-emission Vehicle Goals
The White House Thursday announced an executive order that sets a new target to make half of all new vehicles sold by 2030 zero-emission vehicles. According to a White House fact sheet, the order also kicks off development of long-term fuel efficiency and emissions standards to save consumers money, cut pollution, boost public health, advance environmental justice, and tackle the climate crisis. However, the effort lacks links to biofuels. Rural Voices USA Board President Chris Gibbs states, “The path ahead will also require a commitment to biofuels as an essential way to reduce emissions and support rural economies.” The organization encourages President Joe Biden to renew his commitment to biofuels and upholding the Renewable Fuel Standard. Meanwhile, Renewable Fuels Association President and CEO Geoff Cooper says, “The overarching goal should be to reach net-zero emissions as quickly as possible without dictating the pathway to get there or putting all our eggs into one technology basket.”
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Legislation Seeks to Block California Prop 12
Lawmakers Thursday introduced the Exposing Agricultural Trade Suppression, or EATS Act, to prohibit states and local governments from interfering with agriculture products from other states. Specifically, the bill seeks to block California’s Proposition 12, which would require meat products raised outside of the state to conform to the animal rights standards adopted by California. The Republican Group of Senators introducing the bill features Iowa’s Chuck Grassley and Joni Erst, Roger Marshall of Kansas and John Cornyn of Texas. Grassley claims, “I don’t know why anyone would want to live in a state where it’s almost impossible to buy bacon, but California wants to impose such a rule on its residents.” The EATS Act will also challenge states from interfering in interstate commerce. However, state and local government units will still be able to regulate farming and ranching within their own state. More than 20 states challenged California’s Proposition 12, and others have adopted similar laws.
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Farm Credit: Infrastructure Package to Improve Rural America
The Farm Credit Council says the Infrastructure Investment and Jobs Act will help improve rural America, bringing infrastructure improvements and jobs. Farm Credit President and CEO Todd Van Hoose Thursday stated, “We commend the bipartisan group of 22 Senators and President Biden for their tremendous effort to forge agreement on this critical legislation.” The legislation will bring support for rural broadband and rural water systems. The bill also will strengthen agriculture transport networks by improving rural roadways and bridges, freight rail, inland waterways, and port facilities. Van Hoose says these investments will create jobs in rural communities, make U.S. agriculture more competitive in global markets, and make rural communities “more vital places to live and work.” As for broadband, the bill features more than $40 billion in funding to improve rural broadband access. The bill is on track to pass and could pass the Senate before lawmakers adjourn for the upcoming August recess.
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Study Shows How Corn and Soybean Producers Benefit from U.S. Red Meat Exports
U.S. beef and pork exports brought critical returns to the corn and soybean industries in 2020, according to an independent study released by the U.S. Meat Export Federation. The study found U.S. beef and pork exports added 41 cents per bushel to the value of corn and $1.06 per bushel to soybeans in 2020. Corn and soybean producers support the international promotion of U.S. pork, beef and lamb by investing a portion of their checkoff dollars in market development efforts conducted by USMEF. The study shows U.S. pork exports used 2.45 million tons of soybean meal, which is the equivalent of 103.2 million bushels of soybeans. At an average annual price of $8.98 per bushel, pork exports accounted for $927 million in market value to the soybean industry. Beef and pork exports used 530.5 million bushels of corn. At an average annual price of $3.52 per bushel, beef and pork exports accounted for $1.87 billion in market value to the corn industry.
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Alex Miller to Perform at #Farmon Benefit Concert for National FFA
Farm Journal announced this week that American Idol contestant and rising country music star Alex Miller will perform as part of the 2021 #FarmON Benefit Concert during Farm Journal Field Days. Proceeds from the second annual benefit concert will go to the National FFA Foundation, and highlights from the concert will air RFD-TV. Miller grew up in Lancaster, Kentucky, assisting his grandpa on his cattle farm as well as being an active member of the Garrard County FFA. Farm Journal president Charlene Finck says, “We are honored to have an extremely talented and current FFA member as one of our featured performers.” The live concert is set for Thursday, August 26, in Colby, Kansas, and is available only to VIPs and those who register for the in-person Farm Journal Field Days event the following day. For more information about the #FarmON Benefit Concert and Farm Journal Field Days, go to www.FarmJournalFieldDays.com.
