Share of income spent on food dropped 10% in 2020

IARN — The share of U.S. consumers’ disposable income spent on food decreased 10.1 percent during the COVID-19 pandemic last year. The share declined to 8.6 percent, the lowest share in the past 60 years, according to the Department of Agriculture’s Economic Research Service. Read more

Barchart increases U.S. Crop Production Forecast

IARN — Barchart Tuesday raised their July 2021 Yield and Production forecasts for U.S. corn and soybeans. Released on the first Tuesday of each month during the growing season, the forecasts offer users insights to help their crop marketing and business decisions ahead of when traditional government reports are released. Read more

U.S. Export Sales Report for 7-9-2021

IARN — The U.S. Department of Agriculture released its weekly U.S. Export Sales Report on Friday. Nothing crazy came out of this week’s report. Allendale commodity broker Greg McBride said old crop sales continue to be on the weaker side of things, but it’s not necessarily a huge cause for concern. Read more

MERCK Animal Health aims to keep innovation relevant for producers

IARN — Health in a swine herd is essential. With margins being tight between the price you pay to get your hogs and the price you sell them for, you cannot afford to throw money away. Merck Animal Health has been a partner in the swine industry for quite some time, and they want to make sure that their customers are getting the most value for their dollars. Read more

Ag Economy Barometer falls again

IARN — For the second month in a row, the Ag Economy Barometer declined sharply. Released Tuesday, the most recent survey fell to 137, 21 points below a month earlier, and the weakest sentiment reading since July 2020. Producers in June were less optimistic about both current conditions on their farming operations as well as their expectations for the future. Read more