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The Shrinking Slice: Farmers Receive Less Than 6 Cents of Every Food Dollar

Tue, 31 Mar 2026 20:30:44 GMT

For the past two years, USDA has estimated farmers and ranchers received less than 6 cents of every food dollar. In 2023, that was 5.9 cents, and using the latest data from 2024, it’s 5.8 cents.

“Our oldest data point right now is 2007 [USDA updated the data series] and that’s 14.7 cents per dollar, and now we’re down all the way to 11.8 cents per dollar,” says Faith Parum, economist with the American Farm Bureau Federation. “So we’ve really seen that decline year after year. It reflects how much of the value of things in the grocery store or when you go out to eat is going to other parts of the supply chain and not necessarily to farmers and ranchers.”

Livestock vs. Crops: A Widening Gap

The aggregate decline masks a widening gap between sectors. While the overall farmer share is down, livestock and crop producers are seeing divergent trends:

Crop Farmers: Share dropped from 2.9 cents to 2.5 cents (a 2.5% year-over-year decrease).
Livestock Producers: Share increased from 3 cents to 3.3 cents.

“Overall, the farmer share is down. But we have those two markets really at odds,” Parum says. “We’ve seen that tale of two farm economies where our livestock producers maybe have seen a little bit of better days than they had had in the past, while our row crop farmers and our specialty crop farmers are really facing strong headwinds in the market.”

Effect at the Farm Gate

As highlighted by USDA, farm finances are quickly strained when farmers/ranchers are capturing a small percentage of the food dollar and even modest swings in commodity prices and/or input prices take place.

Parum adds, “when we talk about the health of our farms and the health of future generations on the farm, and being economically viable and sustainable and being able to keep their operations open, the trends we’re seeing right now are really hard for those farmers. Our ranchers are seeing a little bit of better days right now with high beef prices, but that’s not going to last forever, and with production expenses continuing to increase, we’re really going to see that that question come up of, what is sustainable if, if these dollars we’re spending in the grocery store aren’t making it back to our farmers.”

Where Does the Money Get Distributed?

The key takeaway: farmers produce the raw commodities that make food production, however, the price is clearly more determined by what happens after the products first leave the farm.

The USDA Food Dollar Series tracks how each dollar is spent by consumers and then divides it across the industries contributing to the value in the supply chain, such as farming, food processing, transportation, packaging, wholesaling, retail and food service. As noted by the USDA, with each step in the process, the additional services, labor, transportation and infrastructure add value and increase costs to the final food product.

USDA’s Economic Research Service Food Dollar Series shows in 2024, farmers received 11.8 cents of every dollar spent on domestically produced food, the remaining 88.2 cents of the food dollar went toward the ‘marketing bill’, which includes costs associated with food processing, transportation, packaging, wholesaling, retailing and food service. Over time, this shift illustrates how an increasing share of food spending is driven by services and supply chain activities rather than farm production itself.

Groceries Leave the Most on The Table For Farmers

Farmers’ share of consumer food spending varies widely depending on the type of food purchased. For example, the farm share of the food-at-home dollar was 18.5 cents in 2024, up slightly from 18.4 cents in 2023. But even in this category it means only than one-fifth of what consumers spend on groceries goes back to farmers.

As you may expect, products with minimal processing, require less of the value to be retained in that part of the food system, and therefore return a larger share of the food dollar to producers.

“The highest commodity that gets the most of that food dollar is fresh eggs,” Parum notes. “That’s just because there’s limited labor to process that food.”

Examples include:

Fresh Eggs: 69.1 cents (+6% from 2023)
Beef: 52.2 cents (+4.8%)
Fresh Milk: 50.8 cents (+5.6%)
Pork: 23.7 cents (+7.2%)
Poultry (+3.1%)
Fish (+2.8%)
Tree nuts and peanuts (-1.7%)
Fresh fruits and vegetables (unchanged)
Bakery Products: 4.8 cents (-9.4%)
Soft Drinks/Bottled Water: 1.3 cents (-7.1%)

FBN Spins Out Its Crop Protection Business, Focuses on Marketplace and Technology

Thu, 09 Oct 2025 17:49:41 GMT

Last week, just a few hours after Corteva announced its spin out dividing seeds from crop protection, Farmers Business Network (FBN) announced it is separating its businesses. Moving forward FBN will focus on its digital marketplace for farmers, and the newly launched Global Crop Solutions will be an independent supplier of crop protection products.

FBN leaders say the timing is coincidental. Their motive for the timing was brought about by the new fiscal year. But they offer both of the announcements together could be a sign of a trend of vertical integration getting unwound in the name of efficiency and focus.

“We’re doubling down, allotting capital on digital innovation for FBN’s future,” says Diego Casanello, CEO of FBN. “FBN’s core business is a digital commerce and fintech platform. We want farmers to be able to buy, finance, and market everything they need while sitting in their combines. These are technology challenges, so the core competence you need to be successful at FBN is different from managing the supply chain of the crop protection business.”

In the past 14 months, FBN has been refocusing its business. First, it spun off its insurance business, then its Gradable business into a joint-venture with ADM. Now with its crop protection business spin out, Casanello says the FBN marketplace will feature GCS products, such as Willowood USA branded products, via a strategic partnership, and GCS products will explore distribution beyond the FBN marketplace.

“The big unlock for GCS is the opportunity to serve the entire retail and co-op industry,” Casanello says. “It frees GCS of any channel conflicts and hits the ground running with one of the largest portfolios of products in the industry. And it frees FBN from similar constraints as we move to an open marketplace architecture. We are onboarding new sellers and their portfolios every week. We provide them the tools to manage pricing, marketing, and placement. FBN is open for business and we’ve had significant interest from additional partners before and after the announcement.”

FBN’s Marketplace Strategy

Currently, FBN says it has 120,000 farmer members in the U.S. and Canada. The business provides a marketplace with farm inputs and supplies, financial services and data-driven intelligence.

FBN co-founder Charles Baron says the FBN marketplace has expanded its product range to include crop protection, seed (with additional partner news coming soon), fertilizer, livestock products, veterinary pharmaceuticals, farm supplies and more.

“To farmers, there’s no change in their experience. And over time, we’ll bring an even broader assortment of goods,” Baron says. “You’ll be seeing announcements from us every two weeks or so about the suppliers coming on the platform. It’s one of the most exciting times in our history.”

The leaders say farmer use of e-commerce has increased every year since they launched, and in 2025 FBN served a record number of customers. “Farmers are really focusing on value right now and maximizing every dollar,” said Baron. And per their analytics roughly 35% of U.S. farmers visit FBN.com to browse inputs, apply for financing, or look for information.

The Future of GCS

As a newly formed independent crop protection supplier, GCS has a portfolio of 250 registrations on post-patent products. The company will specialize in sourcing, managing first mile logistics, developing new products and regulatory aspects.

To lead the business and its team, Amy Yoder, most recently EVP of FBN’s livestock division, is incoming CEO.

“Global Crop Solutions launches today as an independent powerhouse,” said Yoder, in a press release. “For the first time, our extensive portfolio and efficient global supply chain are fully available to all partners— from retailers, to distributors, to co-ops. Our independence unlocks immense growth potential and allows us to be the most reliable and collaborative partner to the entire agricultural industry.”

West Nile Virus Activity Spikes to 20-Year High in the Midwest

Thu, 14 Aug 2025 20:48:29 GMT

Scouting cornfields now might net you a different problem than the insects you might have anticipated encountering. An Iowa State University researcher says there are “very high levels” of West Nile virus (WNV) trending in Iowa and other Midwestern states currently.

“This week had the highest observed WNV activity at this point in the summer observed in over 20 years. This trend is of serious concern for the next eight weeks when WNV transmission risks are the highest,” writes Erin Hodgson , ISU Extension entomologist specialist.

To date in 2025, there have been 219 cases of WNV reported in 29 states. In 2024, there was a total of 1,466 cases of WNV reported in the U.S., according to Vector Disease Control International.

In Iowa, data is generated from ongoing mosquito surveillance efforts coordinated by Ryan Smith, ISU associate professor and entomologist. Smith has implemented an interdisciplinary approach to examine mosquito immunity and mosquito-borne disease transmission.

Leading Cause Of Mosquito-Borne Disease
West Nile virus is transmitted through the bite of a Culex mosquito, commonly called a house mosquito. It typically picks up the virus by feeding on an infected bird. West Nile virus is the leading cause of mosquito-borne disease in the continental United States.

In general, people do not spread the infection.

There are no vaccines to prevent or medicines to treat West Nile in people. Fortunately, most people infected with the virus do not feel sick, according to the Centers for Disease Control and Prevention (CDC). About 20% of people who contract the disease will experience mild symptoms like fever, headache, and body aches.

In a small percentage of cases, the virus can cause serious neuroinvasive disease issues, such as encephalitis or meningitis, which can be severe and even fatal, the CDC reports.

People older than 60 and those with weakened immune systems are at highest risk for severe illness.

The CDC offers an interactive site where you can view and track the total number of human infections of WNV reported on a county-by-county basis. See current results in your county here .

Implement The Three Rs
To prevent mosquito bites, the CDC encourages people to practice the ‘Three Rs’:

REDUCE - make sure doors and windows have tight-fitting screens. Repair or replace screens that have tears or other openings. Try to keep doors and windows shut. Eliminate, or refresh each week, all sources of standing water where mosquitoes can breed, including water in bird baths, ponds, flowerpots, wading pools, old tires, and any other containers.

REPEL - when outdoors, wear shoes and socks, long pants and a light-colored, long-sleeved shirt, and apply an EPA-registered insect repellent that contains DEET, picaridin, oil of lemon eucalyptus, IR 3535, para-menthane-diol (PMD), or 2-undecanone according to label instructions. Consult a physician before using repellents on infants.

REPORT – report locations where you see water sitting stagnant for more than a week such as roadside ditches, flooded yards, and similar locations that may produce mosquitoes. Your local health department or city government may be able to add larvicide to the water, which will kill any mosquito larvae.

Your next read: Southern Rust Has Infected Iowa Corn in ‘Likely Every County’

Could EPA Decision Signal The Beginning Of The End For DEF?

Thu, 31 Jul 2025 16:25:52 GMT

Mike Berdo has strong words to describe his ongoing experiences using machinery requiring DEF ( Diesel Exhaust Fluid ) on his southeast Iowa farm.

“It has been an absolute nightmare, at least for us. Mechanics make trip after trip to do little stuff that’s very expensive to fix,” said Berdo, who produces grain and beef cattle near Washington. “We had planting delays last spring … little stuff that came from it and just seemed like [an issue to deal with] day after day.”

The ongoing mechanical issues and costs are why Berdo said he is “all for” EPA rescinding the 2009 Greenhouse Gas Endangerment Finding. The Finding has enabled the agency to regulate greenhouse gas emissions under Section 202 of the Clean Air Act and, in recent years, and launch requirements such as the use of DEF systems in diesel-powered engines.

EPA Draws A Line In The Sand
On Tuesday, EPA Administrator Lee Zeldin released a proposal to rescind the 2009 Finding.

If finalized, the proposal would remove all greenhouse gas standards for light-, medium- and heavy-duty vehicles and heavy-duty engines, EPA said in a follow-up press release .

The move would start with EPA’s first greenhouse gas standard set in 2010 for light-duty vehicles and those set in 2011 for medium-duty vehicles and heavy-duty vehicles and engines.

EPA said the proposal is expected to “save Americans $54 billion in costs annually through the repeal of all greenhouse gas standards, including the Biden EPA’s electric vehicle mandate, under conservative economic forecasts.”

Zeldin made the announcement to rescind the Finding in Indiana, alongside Energy Secretary Chris Wright, and called it the largest deregulatory action in U.S. history.

What The Decision Could Mean To Farmers
Specific to U.S. farmers, the proposal could potentially result in DEF systems no longer being included on new tractors and other heavy equipment using diesel-powered engines, said Chip Flory, host of AgriTalk, during a Farmer Forum discussion on Wednesday.

South Dakota farmer Ryan Wagner told Flory he has a wait-and-see perspective on how or whether the EPA proposal goes into effect. He anticipates that reversing the Finding will take considerable time and effort for EPA to implement.

“It took a long time with the interim engines and things to get into full DEF in the first place,” Wagner said. “I don’t know how long it would take to unwind all that and how quickly manufacturing will just take those systems right off, but it’ll be interesting to see what happens.”

To Wagner’s point, here’s a brief look back at some timing showing when DEF rolled out in agriculture and nonroad equipment and became mandatory . The regulations were phased in over several years based on the type of equipment and engine size:

2008: DEF became required for all new diesel engines with engine sizes over 750 horsepower.

2011: the regulations expanded to include equipment with engine sizes between 175-750 horsepower.

By 2015, all new nonroad diesel engines were required to be Tier 4 compliant and utilize DEF, regardless of equipment type or engine size.

As Wagner considers DEF, he noted its use in diesel engines has provided him with one benefit: “On the plus side, I do like that they don’t make the walls of my shop black. That’s been nice,” he said. “You can run them inside for a short time and not not feel like you’re breathing in a bunch of soot and making everything black.”

Expect Legal Challenges To EPA Decision
A number of environmental groups have already blasted the move by EPA, saying it spells the end of the road for U.S. action against climate change, according to an online article by Reuters .

Legal challenges from various environmental groups, states and lawyers are likely ahead.

That fact wasn’t lost on Flory and the Farmer Forum participants during the AgriTalk discussion on Wednesday.

“If this proposal is finalized, it’s going to start a lot of conversations … and the dominoes are going to start to fall, something that we need to keep track of, no doubt,” Flory said. You can hear the complete Farmer Forum discussion on AgriTalk here:

EPA will initiate a public comment period to solicit input. Further information on the public comment process and instructions for participation will be published in the Federal Register and on the EPA website .

Your next read: Right To Repair Granted? John Deere Launches Digital Self-Repair Tool for $195 Per Tractor

July Weather Outlook: Goodbye Rain, Hello Heat

Tue, 24 Jun 2025 22:13:00 GMT

The Pacific Jet Stream has been going strong since early spring, sending heavy rains down through the Ohio River Valley, delaying farmers’ planting efforts there, then more recently, moving large amounts of moisture into the central Corn Belt.

“Nobody would have thought three months ago that we were going to have this much rain occurring across key crop areas, especially in the southern half of the Plains and in the Delta and Tennessee River Basin,” says Drew Lerner, president and senior agricultural meteorologist of World Weather.

But be advised, the engine driving that jet stream is about to turn off, says John Hoomenuk of EmpireWeather.com . He anticipates that by early July, some farmers will see those heavy rain events turn into a trickle.

Weather outlook for early July.

(BAM Weather)

Weather Brewing For July

“As we get into the second week of July or so, we’ll see the ridge push a little further north, and we’ll see some drier forecasts starting to appear, starting in Kansas and Nebraska, and then spreading a little bit into southwestern and central Iowa at times as well,” Hoomenuk says.

“That’s really caught our attention, because we just haven’t seen that [pattern] so far this year, and it’s a pretty big change compared to where we’ve been,” he adds.

As July goes on and August nears, Hoomenuk says the weather data indicate the jet stream will go up into Canada and drop into the Great Lakes.

If that occurs, he says farmers in Indiana, Illinois and Ohio are likely to get some precipitation dropping on the east side of the ridge. But across the Central Plains, Kansas, Nebraska, Dakotas, and maybe even into parts of Iowa, farmers will see their conditions trend a little drier.

“I think that’s not a huge concern just yet, but it’s a pretty big change up compared to where we’ve been the last couple of weeks,” Hoomenuk told AgriTalk host, Chip Flory, on Tuesday.

Drought Risks Remain In Place

The outlook for drier weather in July is not a surprise, based on the patterns some meteorologists saw shaping up last winter.

“The central United States is at about a 60% drought risk. Some of the best weather forecast models we have out there are trying to put the epicenter of that drought somewhere between Missouri, Nebraska, South Dakota, Iowa and southern Minnesota by the time we get into July and August,” says Eric Snodgrass, principal atmospheric scientist for Nutrien.

Much of the western U.S. has been enduring dry, hot conditions already this year. Much of the central Midwest is about to experience the same.

(The National Drought Mitigation Center at the University of Nebraska-Lincoln, the United States Department of Agriculture and the National Oceanic and Atmospheric Administration.)

“When you think about those particular states, developing drought from spring to summer in any year is somewhere in the neighborhood of 28% to 38%,” he says. “Essentially, the risk is doubled this year.”

Snodgrass explains the canary in the coal mine for a drought will come from a combination of the Gulf of Alaska ocean temperatures and the Bermuda high, which is an area of high pressure that can influence weather patterns and tropical systems. If the Gulf of Alaska ocean temperatures begin dropping this summer, that’s a sign moisture will be lacking.

The silver lining, Hoomenuk says, is many farmers have either had excess or sufficient moisture this spring, so no alarm bells have been ringing yet for corn and soybean crops that are now in rapid growth.

His concern is the current weather patterns will stagnate, causing temperatures to rise.

“Most of the long-range data we’re seeing, if you look at July as a whole, is showing some pretty substantial [temperature] numbers in the Central Plains. We’re talking somewhere between four and five degrees above normal in some areas of Kansas and Nebraska, two or three degrees above normal for the month on average, surrounding that in parts of southwestern Iowa and the Dakotas,” he says.

As for states further east, such as Indiana, Michigan and Ohio, Hoomenuk says farmers there will likely see temperatures “closer to normal” for July, based on data he’s reviewed.

“The thing I keep seeing is temperatures looking to be about normal, maybe slightly warmer than normal – just a couple days of heat followed by a cool down and some rain, which is is pretty ideal,” he says. “It doesn’t seem like we’ll get into that long-term heat there in those eastern regions of the U.S, so the concern level out there is pretty low right now heading into July.”

Your next read: Crop Quality in the Midwest: Most States Soar, Some Flounder

EPA To Address ‘Government Overreach’ on Defining WOTUS

Thu, 13 Mar 2025 19:12:03 GMT

EPA Administrator Lee Zeldin announced on Wednesday the agency will undertake 31 historic actions “to advance President Trump’s day one executive orders and power the great American comeback.”

Among the announcements, Zeldin said EPA will work with the United States Army Corps of Engineers to deliver on President Donald Trump’s promise to review the definition of Waters of the United States (WOTUS).

“The agencies will move quickly to ensure that a revised definition follows the law, reduces red tape, cuts overall permitting costs, and lowers the cost of doing business in communities across the country while protecting the nation’s navigable waters from pollution,” Zeldin said in a prepared statement.

“Given the U.S. Supreme Court’s watershed decision in Sackett v. Environmental Protection Agency, it is time for EPA to finally address this issue once and for all in a way that provides American farmers, landowners, businesses, and states with clear and simplified direction,” he added.

Zeldin’s announcement was an important step forward in correcting what the Supreme Court had ruled in 2023 as EPA’s overreach in defining WOTUS. At the time, the agency had charged ahead ignoring concerns raised by the Supreme Court, 26 states, and farmers and ranchers across the country, according to American Farm Bureau Federation (AFBF) President Zippy Duvall.

“The Supreme Court clearly ruled, almost two years ago, that the government overreached in its interpretation of what waters fell under federal jurisdiction, but inaction and vague implementation guidelines by EPA led to permitting delays, litigation and uncertainty,” Duvall said in a prepared statement on Wednesday.

Listening Sessions Are Being Scheduled By EPA
Mary-Thomas Hart, chief counsel for the National Cattlemen’s Beef Association (NCBA), told AgriTalk Host Chip Flory on Thursday the Supreme Court had ruled EPA’s overreach on WOTUS in 2023 amounted to a violation of a landowners’ constitutional rights.

“Because there are criminal liabilities that attach to violation of the Clean Water Act, a landowner has to be able to know when they look at their land or when they look at a water feature, what is or isn’t WOTUS,” Hart said.

A priority for the Trump Administration moving forward will be working cooperatively with state partners, empowering them and local officials to protect water bodies while accelerating economic opportunity. As a result, “decisions will be made efficiently and effectively while benefiting from local knowledge and expertise,” EPA’s Zeldin said.

To inform those decisions, EPA has issued a request for information from stakeholders about how they’re impacted by WOTUS and will host a series of listening sessions from late March through April 2025, according to information on the agency’s website.

EPA will hold at least six listening sessions, with two open to all stakeholders, one open to States, one open to Tribes, one open to industry and agricultural stakeholders, and one open to environmental and conservational stakeholders.

The agency said registration instructions and dates will be forthcoming at the following website: https://www.epa.gov/wotus/public-outreach-and-stakeholder-engagement-activities.

Persons or organizations wishing to provide verbal recommendations during the listening sessions will be selected on a first-come, first-serve basis. Due to the expected number of participants, EPA said individuals will be asked to limit their spoken presentation to three minutes. Once the speaking slots are filled, participants may be placed on a standby list to speak or continue to register to listen to the recommendations.

Listen to the AgriTalk discussion on WOTUS with NCBA’s Mary-Thomas Hart here:

USDA's Rollins: 'Let's Go Barnstorm The World And Find New Partners' For Trade

Tue, 18 Feb 2025 18:48:49 GMT

On Brooke Rollins’ first full week on the job as Secretary of Agriculture, she addressed the 600 farmers, ranchers and industry leaders in Kansas City for the 2025 Top Producer Summit.

High on Rollins’ list of priorities was the topic of trade and President Donald Trump’s vision for U.S. agriculture moving forward.

While Rollins did not shy away from addressing the administration’s decision to implement trade tariffs, noting “farmer and rancher concerns are legitimate,” she focused on what she sees as her role ahead.

“My job is to ensure that as President Trump and our trade representatives are making their decisions that I am in the room and advocating on behalf of our people, on behalf of all of you,” she told Top Producer Summit attendees.

One of her key objectives, she says, is to find and expand market access for U.S. agricultural products domestically and abroad.

“Let’s go barnstorm the world, and let’s go find some more trade partners and access [to market opportunities],” she says.

Rollins says her goals for trade are a reflection of Trump’s vision and his determination to make agriculture part of the “golden age” he sees ahead for the U.S.

Trump is the consummate deal maker, Rollins notes, able to side-step bureaucracy and red tape in the process to work with world leaders.

“I don’t know that in the last 250 years, we’ve had anyone in office like President Trump,” she says. “He is a very unusual, remarkable and fearless man, and he wants to make a deal, and in the best way, and put America first.”

Agriculture Secretary Brooke Rollins spoke to a crowd of 600 farmers, ranchers and industry leaders at the 2025 Top Producer Summit.

(Jim Barcus)

Making Headway With Trade
Sen. Roger Marshall of Kansas, who moderated the conversation with Rollins, highlighted Trump’s work to build trade during his first term.

“He redid USMCA, and now that’s our largest ag partnership, with Mexico and Canada,” Marshall says. “He gave us South Korea and Japan, which has been so important to Kansas and our cattle industry, as well as trade 1.0 with China.”

Marshall then mentioned the headway he believes Trump and team have made with India.

“I see India replacing China as our major trade partner, as well that China is growing right now,” Marshall says. “I think there’s huge opportunities in India.”

U.S. ethanol, cotton and tree nuts are three of the top agricultural exports to India, a country that has in the past impeded agricultural trade with tariffs and non-tariff barriers alike. Trump called out the barriers to trade following recent conversations with India’s Prime Minster Modi.

A joint statement after the Trump-Modi meeting said Washington welcomed New Delhi’s recent steps to lower tariffs on select U.S. products and increase market access to U.S. farm products, while seeking to negotiate the initial segments of a trade deal by the fall of 2025.

Rollins says the progress underway with India was just one step forward to address what she described as a trade crisis for the U.S.

“Our exports are down $37 billion this year and likely to be down $42 billion in the months to come. This is a crisis, and this is something that I understand inherently,” Rollins says.

“We have a tremendous amount of work to do,” she adds. “But my promise to you is this, and my commitment will never waver, that every minute of every day for the next four years, I will do everything within my power with hopefully God’s hand on all of us and our work to ensure that we are not just entering the golden age for America, as my boss, President Trump, likes to say, but that we are entering the golden age for agriculture.”

Secretary Rollins joined Chip Flory on AgriTalk. Listen to their discussion about trade policy and tariffs; avian flu; and disaster and economic aid.

Your next read: Senate Overwhelmingly Confirms Brooke Rollins as 33rd Secretary of Agriculture

Ag Lenders: Just Over Half of Farmers Will Be Profitable in 2024

Wed, 19 Nov 2025 19:13:57 GMT

The American Bankers Association (ABA) and the Federal Agricultural Mortgage Corporation (Farmer Mac) have released their joint 2024 Ag Lender Survey.

The big takeaway: lenders believe only 58% of farmer borrowers will be profitable in 2024. That’s down from 78% in the previous year’s study.

“The agricultural economy is inherently cyclical, and ag lenders are navigating the changing conditions across the sectors they serve,” said Jackson Takach, chief economist of Farmer Mac.

“While the responses highlight slowing land values and a profitability shift from crops toward animal proteins, ag lenders remain steadfast in leveraging their resources and relationships to guide producers through all parts of the cycle,” Takach says.

Profitability expectations did vary by region and commodity category. Optimism was greater for livestock producers over row crop farmers.

The two top concerns listed by lenders for agricultural producers are liquidity and farm income.

For lending institutions, the respondents said the biggest concern was credit quality along with agricultural loan deterioration in the next 12 months.

“Agricultural credit quality remained robust in 2024, but lenders expect deterioration in the coming year as farmers face a more challenging environment,” said Tyler Mondres, senior director of research at the American Bankers Association. “Lenders are taking prudent steps to manage risk such as tightening underwriting standards, and they remain committed to working with and supporting their borrowers.”

Demand for loans secured by farmland and agricultural production loans increased in 2024, and both categories of loans are expected to rise in the next year as well.

The ABA/Farmer Mac survey has been conducted for nine years, and this year’s responses included more than 450 ag lenders who represent institutions ranging from less than $50 million to more than $1 billion.

You can read the full report here

How Important is U.S. Ag and Food to the Economy?

Fri, 27 Sep 2024 01:31:10 GMT

As the saying goes, “numbers don’t lie,” and this rings especially true in the 2023 Feeding the Economy report, showing the economic importance of U.S. food and agriculture to communities throughout the nation.

Sponsored by 25 food and agriculture groups across all areas of the food supply chain, the report illustrates the food and agricultural impact on local and nationwide economic activity, underscoring the sector’s resilience and reliability amid a number of global and domestic disruptions.

“Feeding the Economy demonstrates how agriculture is connected to each stage of the supply chain, every item in the grocery store and relied upon by multiple other indispensable industries. The report provides insightful data and research on how the food and agriculture industry consistently generates a positive trade balance as well as millions of jobs while boosting economic vitality in rural and urban areas,” says Mike Seyfert, president and CEO of the National Grain and Feed Association.

Economic Output

Showing an increased economic output in all 50 states compared to the 2022 report, the industries contributed to over $8.6 trillion, nearly 20%, of the country’s economic activity. In addition, the industries accounted for over $202 trillion in export value.

Reflecting a rebound in national economic activity, the largest total output gains were from Hawaii (31%), North Dakota (26%), New York (23%), Nevada (22%) and Florida (21%), according to the report.

Agriculture and food businesses also contribute over $947 trillion to federal and state taxes, including $565.3 trillion and $382.5 trillion, respectively.

Jobs and Wages

Despite the economic challenges and disruptions associated with the COVID-19 pandemic, in 2023, a total of 22,924,189 million jobs are tied directly to the food and agriculture sector, claiming $927.4 billion in wages. This contributes to a total of over 46.2 million jobs and $2.6 trillion in wages supported across the whole supply chain, increasing nearly 2% since 2019.

Productivity

“The strength and growth highlighted in this year’s report reinforce that agriculture is evolving and innovating to meet the demands of the 21st century,” the report says.

USDA notes that between 1948 and 2019, land use for agriculture decreased by 28% while land productivity grew nearly four times and labor productivity grew more than 10 times, the report adds, with agriculture’s total factor productivity growth rate among the highest of U.S. sectors.

While producers raise crops, produce and livestock on two of every five acres of U.S. soil, millions of other U.S. workers fulfill jobs in over 200,000 food manufacturing, processing and storage facilities to strengthen the food supply chain across the world. Additionally, approximately 200,000 retail food stores and over 1 million restaurant locations provide food for communities from coast to coast.

The sheer number of jobs and total of wages, taxes and export values highlight the vitality of the industry to our nation. However, for many Americans, both rural and urban, agriculture and food are more than simply a paycheck.

“American agriculture is really the foundation of our lives and our economy. This study reveals the numbers, and maybe some of the spirit, of this one indispensable sector,” says Roger Cryan, chief economist at the American Farm Bureau Federation.

The full report can be found on the Feeding the Economy website .

How To Translate Generational Misunderstandings

Tue, 18 Jun 2024 16:24:36 GMT

The week of June 10, Farm Journal is celebrating the next generation of American agriculture. Our goal is to encourage you to plan for the future and cultivate multigenerational success through the transfer of skills and knowledge. Think tomorrow, act today to align your asset, resource and financial legacy.

Communication between one generation to another can seem like talking a different language.

“I suggest you approach looking at another generation with curiosity rather than judgment,” says Kim Lear of Inlay Insights.

In her work, Lear shares generational theory insights and highlights how these are trends, not traits, but can inform better teamwork.

Why It Matters Now

Taking a refreshed approach to understanding on-farm team members from other generations is top of mind as today there are four generations actively employed across our economy.

When bringing more than one generation into leadership roles on the farm, it’s helpful to understand how to communicate.

“Dates given for generations are just a starting point. Generational theory is taking formative events from our growing years and seeing how they shape the people who lived through it,” she explains

A typical generation spans 15 to 18 years, and while general trends can be highlighted, Lear also notes there are exceptions.

“There are individuals who sit between two generations, and those people can serve important roles communicating between the generations. They are generationally bilingual,” Lear says.

3 Steps for Generations To Work Together
“We are in a unique time where we have four generations in the workforce,” says Kim Lear. She suggests three steps to bring together a productive team. 1. Prioritize clarity over brevity in communication. 2. Instill respect as the foundation. 3. Deliver feedback in a way that motivates to improve rather than paralyze with fear. Give a clear path for the road to improvement with the tools to get where they need to be.

3 Steps for Generations To Work Together

“We are in a unique time where we have four generations in the workforce,” says Kim Lear. She suggests three steps to bring together a productive team.

1. Prioritize clarity over brevity in communication.

2. Instill respect as the foundation.

3. Deliver feedback in a way that motivates to improve rather than paralyze with fear. Give a clear path for the road to improvement with the tools to get where they
need to be.

We Are Getting Older

The scales are tilting toward an older society, and there are fewer members of the younger generations.

“The story of aging is changing in America,” she says. “We have cliff diving birth rates and low immigration. Also, we are an ageist society.”

Today 62 million adults ages 65 and older are living in the U.S., which is 18% of the population, according to the U.S. Census. In 30 years, 84 million adults ages 65 and older will make up an estimated 23% of the population.

With the recognition of how our population is structured, and how your on-farm team members reflect their generational trends, you can evaluate your communication.

Next Gen Insights

Lear shares trends about Generation X (birth years: 1965 to 1979), millennials (birth years: 1980 to 1994), and Generation Z (birth years: 1995 to 2012).

Members of Generation X can exhibit fierce independence. For example, they can have an aversion to traditional sales tactics.

“If a brand crosses them, they are hard to earn back as a customer,” she says. “It’s telling — the divorce rate doubled during the Gen X birth years.”

As another data point, 55% of startup founders are Gen X.

As for millennials, the rise of double income households really took off as millennials grew up.

“Millennials are collaborative, empowered, networked, risk averse and in search of meaning,” she says. “But America has more single parent households than anywhere else in the world. It’s one way to understand why work-life balance is at the forefront of recruitment and retention.”

For Generation Z, our present serves as the backdrop of their formative years. Already, Lear has seen how Gen X parents and Gen Z children have relationships rooted in friendship.

“They are highly influential over each other’s decision-making. For example, Gen Z will bring job offers to their parents to vet,” she says.

Lear continues with an example of how Generation Z makes decisions.

“They are showing how they can abandon any obsession of convenience with an obsession of optimization,” she says. “For example, a regular stationary bike is convenient versus a Peloton is synched with stats and analytics. It’s the expectation of personalization and customization.”

Lear gives an exercise to test your transgenerational communication.

“Look at processes, procedures and norms. What are you holding on that is a sacred cow? And then ask your team to think about where can we focus on that’s more useful and more productive for us?” Lear outlines. “You’ll identify priorities and open up how our team talks to one another.”

US Justice Department Probing ADM Accounting Practices

Tue, 06 Feb 2024 15:38:35 GMT

The U.S. Justice Department is probing accounting practices at Archer Daniels Midland Co, according to two people with direct knowledge of the matter, ramping up pressure on the global commodities giant.

New York-listed shares of ADM’s stock dropped 24% on Jan. 22 after the company disclosed the previous day that it had suspended its CFO amid an internal probe into accounting practices related to its Nutrition division. The company’s probe was prompted by a Securities and Exchange Commission (SEC) inquiry, it said.

The two sources said that in recent days the U.S. Attorney’s Office for the Southern District of New York (SDNY) has interviewed former ADM employees about accounting practices at the 122-year old, Chicago-based maker of animal feed, sweeteners and other products.

The sources each said a SDNY prosecutor asked about the company’s pricing practices related to the sales of goods from ADM’s commodities units to its Nutrition division.

A third source with knowledge of the matter said that the SDNY had opened an investigation into ADM. The source was unaware of the substance of the probe.

Reuters could not immediately determine the scope of the probe or the degree to which it had advanced.

Spokespeople for ADM and SDNY declined to comment.

Government investigations are not evidence of wrongdoing and do not necessarily result in charges.

Still, a probe by the Justice Department, which has the power to bring criminal charges and impose steep fines, increases pressure on ADM and is likely to inflame investor concerns.

Shares of ADM extended earlier losses on Monday, falling 4.3% to $53.29 at around 1:43 p.m. EST (1843 GMT).

Reuters could not ascertain if the Justice Department probe directly relates to the company’s internal probe. That focuses on “intersegment transactions” in ADM’s Nutrition reporting segment and the transfer of goods between segments, according to ADM’s Jan. 21 disclosure in which it also said it was delaying its financial results.

The Nutrition division manufactures ingredients used in pet food, animal feed and consumer products, such as energy bars. It is a relatively small unit of ADM, a giant in global grains trading which has a market capitalization of nearly $30 billion. Since 2020, however, the division has played a major role in the doling out of executive compensation.

A change by ADM’s Compensation and Succession Committee in 2020 tied half of long-term executive compensation to the Nutrition segment’s operating profit growth, according to ADM’s regulatory filings. Previously, long-term compensation had been based on ADM’s adjusted earnings, return on invested capital and relative total shareholder returns, the filings showed.

ADM’s 24% share price plunge was its biggest single-day fall since 1929, according to the Chicago-based Center for Research in Security Prices.

The company has since told employees that it will delay bonuses for some senior executives until its financial statements were completed and audited, Reuters reported last week.

(Reporting by Chris Prentice and Jody Godoy in New York; Editing by Michelle Price, Caroline Stauffer and Matthew Lewis)

ADM Puts CFO On Leave With Ongoing Investigation In Cooperation with SEC

Mon, 22 Jan 2024 19:37:47 GMT

On Sunday, Jan. 21, announced it has appointed Ismael Roig as Interim Chief Financial Officer. This is following the ADM Board of Directors placing Vikram Luthar, Chief Financial Officer and Senior Vice President, on administrative leave.

Luthar’s leave is pending an ongoing investigation being conducted by outside counsel for ADM and the Board’s Audit Committee. The investigation is in response to ADM receiving a voluntary document request by the U.S. Securities and Exchange Commission (SEC). Specifically, the request regards accounting practices and procedures with respect to ADM’s Nutrition reporting segment, including as related to certain intersegment transactions.

“The Board takes these matters very seriously,” said Terry Crews, Lead Director, in a news release. “Pending the outcome of the investigation, the Board determined that it was advisable to place Mr. Luthar on administrative leave. The Board will continue to work in close coordination with ADM’s advisors to identify the best path forward and ensure ADM’s processes align with financial governance best practices.”

The company says it is cooperating with the SEC and ADM with the Audit Committee’s oversight is working with its advisors to complete the investigation. Any future updates will be after the board of directors of ADM approves announcing any further disclosure.

With the CFO announcement, ADM also said it will delay its earnings release and conference call relating to fourth quarter and full year 2023 financial results, as well as the filing of its Annual Report on Form 10-K for the year ended December 31, 2023.

Regarding its future outlook, because of the ongoing investigation, ADM withdraws all of its forward-looking outlook for the Nutrition reporting segment.

Roig joined the company in 2004, and he most recently served both as President of Europe, Africa and Middle Eastern markets at ADM.

In the company’s news release Roig said, “I look forward to working closely with the management team and Board, including the Audit Committee, as we resolve this matter and continue to drive value for our stockholders and customers.”

Chair of the Board and CEO Juan Luciano said, “We are fortunate to have a leader of Ismael’s caliber step into the Chief Financial Officer role on an interim basis. Having served in various leadership positions at ADM over the past 20 years, as a member of the Executive Council for ten years, and with his global financial and operating experience, Ismael is the right choice to lead the Finance organization. We appreciate Ismael’s willingness to take on the Interim CFO role at this juncture.”

Feed Grain Supply Boost Driven by Corn Yield, USDA Predicts

Fri, 17 Nov 2023 14:35:01 GMT

The U.S. feed grain supply is expected to grow by 3.4 million metric tons (mmt) to 439.3 million, propelled by a projected 1.9-bushel-per-acre increase in corn yields for the 2023/24 corn production forecast, reports the USDA Economic Research Service (ERS) in the recent November feed outlook report .

Only partially offset by a 6-bushel-per-acroe reduction in the U.S. sorghum crop, the increase in corn still averages to overall higher projected global and U.S. coarse grain exports this month.

A rise in world corn exports is pushing the record-high trade (for the international October to September trade year) further up, notes the report. An increase in supplies (higher beginning stocks and greater output) exceeds the rise in coarse grain use, boosting stocks.

The USDA’s National Agricultural Statistics Service (NASS) increased its national corn production forecast in the November Crop Production report. The projected U.S. corn production for 2023/24 is now 15.2 billion bushels, a 170-million-bushel rise from the previous month. This is attributed to an increase in yields to 174.9 bushels per acre, up from October’s forecast of 173 bushels per acre. The harvested area forecast remains at 87.1 million acres.

While yield forecasts were adjusted for some states, major producers like Illinois, Indiana, Minnesota, and South Dakota saw increases contributing to the overall national yield rise. Illinois accounts for over 19 percent of the total increase.

Corn imports during the first month of the 2023/24 marketing year were robust, reaching just over 3 million bushels, nearly matching volumes from September 2022 and 2021 combined. However, with the expected growth in domestic corn production, demand for foreign corn is anticipated to weaken, leaving the 2023/24 corn import forecast unchanged at 25 million bushels. The projected increase in corn production brings the 2023/24 U.S. corn supply forecast to 16.62 billion bushels, 1.5 billion higher than 2022/23, notes the report.

U.S. corn use is expected to grow in line with the projected supply increase. Feed and residual corn use is raised by 50 million bushels to 5.65 billion, supporting the growing number of feedlot placements at the beginning of the marketing year. The corn-for-ethanol fuel use forecast is also raised by 25 million bushels to 5.33 billion, driven by strong ethanol demand. The report notes a slightly lower 2022/23 fourth quarter corn-for-fuel ethanol use estimate, now at 5.176 billion bushels.

U.S. corn exports for the 2023/24 marketing year have started well, with September volumes at 125 million bushels, 25 million higher than September 2022. Export commitments through November 2, 2023, are 31 percent higher than the same period last year at nearly 760 million bushels, notes the report. Combining these factors with a growing domestic supply, the 2023/24 corn export forecast is increased by 50 million bushels to 2.08 billion.

Despite the anticipated increases in U.S. corn use, they do not exceed the projected supply gains, the report explains. Consequently, 2023/24 corn stocks are 45 million bushels higher at 2.16 billion bushels. The average price received by U.S. corn farmers is expected to decrease from last month’s forecast of $4.95 per bushel to $4.85 per bushel.

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New Legislation Looks To Connect Farmland And Ranchland To Broadband

Fri, 10 Nov 2023 15:39:11 GMT

U.S. growers and livestock producers increasingly rely on the internet across the farm and ranch, yet many still don’t have access to it. A report USDA released this past August, “ Technology Use, Farm Computer Usage and Ownership, ” found that 15 percent of farms and ranches have no access to the internet today.

New legislation announced Nov. 1 looks to change that by expanding high-speed broadband internet access across rural America.

Two members of the House Agriculture Committee, Congressman Brad Finstad (MN-R) and Congresswoman Yadira Caraveo (CO-D), introduced the legislation called “Linking Access to Spur Technology for Agriculture Connectivity in Rural Environments (Last Acre) Act,” within the

USDA’s Office of Rural Development.
The Last Acre Act would create a new competitive grant and loan program at USDA to expand high-speed broadband internet access across eligible farmland, ranchland, and farm sites.

The Federal Communications Commission (FCC) currently defines minimum broadband internet service as internet access with a minimum of 25 megabits per second (Mbps) download speed and upload speeds of 3 Mbps or more.

One generally accepted rule of thumb is that anything above 100 Mbps is considered “fast” internet because it can connect multiple devices at once.

How Farmers Connect
In its Technology Use research, USDA found 51 percent of internet-connected farms utilize a broadband connection while 75 percent of internet-connected farms have access through a cellular data plan. Additionally, 69 percent of farms have a desktop or laptop computer while 82 percent of farms had a smart phone.

(Farm Journal)

The Last Acre Act is among the latest moves by legislators to address the digital divide between urban and rural America.

“As a farmer, I understand the important role precision ag technology plays in increasing production and maximizing efficiency. Yet, many rural areas of southern Minnesota and across the country don’t have reliable access to the wireless connectivity needed in order to utilize these techniques,” said Rep. Finstad, in a news release.

“The Last Acre Act will help drive agricultural innovation into the 21st century by bringing the latest farming technology and tools to every corner of farm country, giving farmers and ranchers – in even the most remote areas – greater ability to adopt precision ag applications and ensure optimal efficiency in their operations,” added Finstad.

The USDA Technology Use report released in August shows that 32 percent of farms used the internet to purchase agricultural inputs this year, which was an increase of 3 percent from 2021.

“Additionally, 23 percent of farms used the internet to market agricultural activities, which was an increase of 2 percent from 2021,” the USDA said. “Farms which conducted business with non-agricultural websites in 2023 increased by 2 percent to 49 percent.”

Precision Agriculture Needs
Increasingly, legislators and broadband providers have fine-tuned how they look at the internet needs of rural America, according to Mitchell Bailey, CEO for GRM Networks, a member-owned cooperative that supplies broadband and other communication services to residents in parts of northern Missouri and southern Iowa.

“The terminology used has changed from ‘fiber to the premise,’ which focused on connecting homes to more of a focus on ‘fiber to the acre,’ because we understand the need to make sure we’re connecting every acre of farmland to advanced technology,” Bailey told Farm Journal.

“In an ever-changing marketplace, it is imperative that corn farmers use the latest in precision agriculture technology to remain competitive and sustainable, and this is only possible through access to high-speed broadband,” added Harold Wolle, National Corn Growers Association president.

The Last Acre Act is endorsed by the American Farm Bureau Federation, Association of Equipment Manufacturers, Competitive Carriers Association, National Corn Growers Association, National Milk Producers Federation, National Cattlemen’s Beef Association, National Farmers Union, John Deere, Ethos Connected, and Wireless Internet Service Providers Association.

Monthly Average Costs
As part of its Bipartisan Infrastructure Law passed in 2021, the Biden administration committed $65 billion to help ensure that every American has access to affordable internet service.

The price of internet service ranges widely across the U.S., from $20 to well over $100 a month.

The price consumers pay depends on a range of factors, including internet speed, the type of connection, and what’s available in a specific area.

A Forbes survey of 37 internet service provides (ISPs) across the U.S. earlier this year found consumers paid an average cost of $65 a month. That’s in line with recent findings by Consumer Reports , which found in 2022 the median monthly internet cost was $74.99.

How States Stack Up
A February report from BroadbandNow Research , a firm that conducts comparisons on internet companies using data from the FCC and internet providers, identified what it calls the “best and worst states” for broadband internet service in the U.S. Its considerations were based on two factors – overall coverage and quality of connections.

The report ranked Maryland as the best overall state for broadband internet, followed by New Jersey, New York, Delaware and Washington. The rankings considered overall access to broadband, access to low-cost broadband, download and upload speeds, and access to fiber-optic service.

At the other end of the spectrum, in the worst category, West Virginia came in last.

West Virginia was followed in the report by Alaska, Mississippi, Arkansas and Vermont. All five states at the bottom scored a zero on internet quality, or latency, which is the time it takes information to go from one source to another.

There were 16 states in the report that scored a zero in the quality category, including North and South Dakota, Nebraska, Michigan, Iowa, Ohio and Wisconsin.

The state with the slowest average download speed was Kansas, followed by Alaska and South Carolina.

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7 Reasons Your Best Employees Quit

Tue, 01 Aug 2023 21:11:54 GMT

Learn how to avoid these frustrating and deal-breaking mistakes

Yes, recruiting members for your team is extremely difficult. But before you spend your time and energy on that challenge, focus first on your current team.

“Put retention in front of recruiting,” suggests Mel Kleiman, president of Humetrics, a human resource consulting firm. “Become a place that people want to work, and then when people hear you have an opening, they come to you.”

How do you prioritize retention? Analyze why employees leave your farm. Many times, their departures fall into these categories.

1. Substandard Co-Workers: “The good employees aren’t paid enough to cover for or put up with the hiring mistakes,” Kleiman says. Don’t force your good employees to compensate for others who are lazy, indifferent or undependable.

2. Mind-Numbing Tasks: New employees are often handed boring and repetitive jobs. Even in downtimes, come up with meaningful work, suggests Erika Osmundson, director of marketing and communications for AgCareers.com. Find ways to make roles on your farm fun or challenging.

3. No Attention or Authority: “When a supervisor is so busy fighting the fires created by problem employees, he or she never has any time for his best people,” Kleiman says. Many times, this busy leader also fails to delegate authority to capable employees, leaving those employees frustrated.

4. No Training: Forgot that often-repeated phrase that training is not a good investment because “they’ll leave in three months anyway.” Establish an ongoing training plan, suggests Wesley Tucker, University of Missouri Extension agricultural business specialist. “Utilize multiple methods to ensure employees absorb and retain critical information,” he says. “Look for opportunities for both formal and spontaneous training.”

5. No Chance for Advancement: Do you share insights about future opportunities or positions? Recognize how advancements drive retention and job satisfaction. “A lot of times, we hire young people and think they are great,” says Dave Allen, president of Agri-Search, a placement firm for agricultural jobs. “So, you let them go do their thing. But, if you forget about them, they will be gone in two years.”

6. Lack of Respect: Employees need positive recognition, Kleiman says. “Praise in public and criticize in private,” he says. Many times, supervisors avoid positive feedback for fear the recipient might ask for a raise – this is the wrong approach.

7. Scheduling Conflicts: When an employer promises “flexible hours,” but it turns out “flexible hours” means having to work whenever and however long the manager wants them to, good employees look for the exit door. “Structure work schedules to allow for flexibility,” Osmundson suggests. “Maybe you can work shortened hours during certain parts of the year. Look for unique ways you can offer flexibility.”

Learn more tips on how to lead your team at the at the 2021 Top Producer Summit. Register now!

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‘Tis the Season for Appreciation

Rural Bankers Rank the Greatest Threats for 2022

Tue, 25 Jul 2023 18:14:02 GMT

For 14 straight months, the rural economy has posted healthy and consistent growth. That’s according to the January Rural Mainstreet Index (RMI) from Creighton University.

For January 2021, the RMI sits at 61.1. That is down from December’s 66.7. The index ranges between 0 and 100 with a reading of 50 representing growth neutral and is generated by a monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.

“Solid grain prices, the Federal Reserve’s record-low short-term interest rates, and growing agricultural exports have underpinned the Rural Mainstreet Economy,” says Ernie Goss, who chairs Creighton’s Heider College of Business and leads the RMI.

This month, bankers were asked to identify the greatest 2022 risk for farmers in their area. Here are the threat rankings from the bankers:

Rising input prices.
Disruptions of delivery for farm inputs.
Rising interest rates
Less federal financial support
Tariffs and trade restrictions

“Increased input costs have raised our average farmer breakeven points, but current commodity prices still produce moderate gains in all areas of financial statements,” reported Jim Brown, CEO of Hardin County Savings Bank in Eldora, Iowa. “Our loan reviews show an increase in working capital, net worth and lower leverage in almost every case.”

On average, bank CEOs expect the Federal Reserve to raise short-term interest rates by 0.70% (70 basis points) in 2022. Around 19% of bankers expect four or more one-quarter percentage point rate hikes in 2022.

“Inflation is a serious problem here. Gasoline prices have nearly doubled since November 2020,” added Jim Eckert, president of the Anchor State Bank in Anchor, Ill. “Food prices are up well above what’s claimed by the government.”

The region’s farmland price index decreased to a very strong 88.5 from December’s record high of 90. January’s reading represented the 16th straight month the index has moved above growth neutral.

The January farm equipment-sales index slipped to a very healthy 72.4 from 74.1 in December. This is the 14th straight month that the index has advanced above growth neutral. Readings over the past several months are the strongest string of monthly readings recorded since Spring 2011.

After declining for five consecutive months, the confidence index, which reflects bank CEO expectations for the economy six months out, rose for a second straight month to 61.1 from 55.2 in December.

The RMI, which started in 2005, represents an early snapshot of the economy of rural agricultural and energy-dependent portions of the nation. It focuses on 200 rural communities with an average population of 1,300.

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Rural Economy Posts Growth for 15 Straight Months

Tue, 25 Jul 2023 16:54:16 GMT

For 15 straight months, the rural economy has posted healthy and consistent growth. That’s according to the January Rural Mainstreet Index (RMI) from Creighton University.

For February 2021, the RMI sits at 61.5. That is up from January’s 61.1. The index ranges between 0 and 100 with a reading of 50 representing growth neutral and is generated by a monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy.

“Strong grain prices, the Federal Reserve’s record-low short-term interest rates, and growing agricultural exports have underpinned the Rural Mainstreet Economy,” says Ernie Goss, who chairs Creighton’s Heider College of Business and leads the RMI.

This month, bankers were asked to project corn and soybean prices out six months. On average, bank CEOs expect corn prices per bushel to fall by 2.6% and soybean prices per bushel to drop by 2.3% over the next six months.

The region’s farmland price index decreased to a very strong 78.8 from January’s 88.5 and December’s record high of 90. February’s reading represented the 17th straight month the index has moved above growth neutral.

The February farm equipment-sales index slipped to a healthy 72 from 72.4 in January. This is the 15th straight month that the index has advanced above growth neutral. Readings over the past several months are the strongest string of monthly readings recorded since Spring 2011.

On average, bank CEOs expect the Federal Reserve to raise short-term interest rates in 2022 by one percentage point which is up from 0.70% (70 basis points) recorded last month. Approximately one in five bankers, or 19.2%, project more than four rate hikes of one-quarter percentage point in 2022.

“Hopefully the Fed will do three or four (based on what is warranted) 25 basis point hikes starting in March and not 50 in March,” shared Jeff Bonnett, president at Havana National Bank in Havana, Ill.

Bonnett said the Fed should start slow and evaluate the impacts as they are implemented and not be saddled with a fixed plan.

After moving higher for two straight months, the confidence index, which reflects bank CEO expectations for the economy six months out, sank to a weak 51.9 from January’s healthy reading of 61.1.

The RMI, which started in 2005, represents an early snapshot of the economy of rural agricultural and energy-dependent portions of the nation. It focuses on 200 rural communities with an average population of 1,300.

Freight Rates Skyrocket

Tue, 15 Nov 2022 07:27:49 GMT

Transportation woes continue to haunt Northeast shippers as trucks remain hard to come by and freight rates skyrocket because of rising fuel costs and a scarcity of drivers.

“Trucks are at a premium right now,” said Tracie Levin, controller at M. Levin and Co. , in Philadelphia.

“It’s a major hindrance for our industry and anyone else that uses trucking, which is basically every industry out there,” she said.

Shippers can’t even buy trucks.

“We’ve been on wait lists to get more trucks, trailer and tractors,” she said. “You just cannot get those things these days.”

But Levin is optimistic that things will turn around. She said some relief is already in evidence.

“We’re slowly able to get things again in a semi timely manner,” she said.

East Coast shippers have been dealing with transportation issues, but there are trucks available, said Tom Beaver, director of sales and marketing for Sunny Valley International Inc. , in Glassboro, N.J.

“Obviously, the cost of brokering a truck, especially for our (less-than-load) business, has increased considerably, but the same is true for all of our competitors,” he said. “We’re adjusting to this ‘new normal,’ but the important thing is that we can get fruit loaded and out to our customers on time and in full.”

Transportation challenges are more prevalent during the winter than they are during the spring and summer for Vineland, N.J.-based The Freshwave Fruit & Produce and its growing operation, Consalo Family Farms , said Chelsea Consalo, executive vice president.

That’s because the company has more local deals during the warmer months.

During the winter, the firm must bring in products from outside growing areas, such as Mexico, and transport fruits and vegetables imported from offshore growing regions, such as Chile, from U.S. ports.

“We have more trucks on the road (in winter),” she said.

Transportation costs are a major concern.

“We’re managing to get the trucks,” Consalo said. “It is just more expensive.”

(Farm Journal)

The Freshwave has added Nick Crisafulli, who recently completed an internship at Americold Logistics LLC, to its logistics staff to help arrange transportation.

Vineland-based Flaim Farms Inc . has its own fleet of trucks for local deliveries, said president Ryan Flaim.

But trying to find trucks for destinations that are farther out is challenging.

The company has good relationships with trucking firms, but rates are much higher than they have been in the past, Flaim said.

Finding transportation isn’t a problem, as long as you’re willing to pay exorbitant fees, said Joel Fierman, president of New York-based Joseph Fierman and Sons Inc .

“It’s really a pity when your cost for transportation pretty much is as high as your cost for goods,” he said.

He blamed the price spike on high fuel costs and a scarcity of drivers.

“It’s a terrible, terrible thing that this country is experiencing right now,” he said.

An added problem during the Christmas season was that many trucks were sidetracked delivering Christmas trees.

“It’s fast, easy money,” he said.

Filindo Colace, vice president of operations for Philadelphia-based Ryeco LLC , attributes the skyrocketing inflation rate the industry has experienced to high freight costs.

“Freight has been a premium for quite some time,” he said.

While seed prices and other costs have also gone up, he said high freight rates are 90% of the cause of inflation.

“Nothing in the industry has gone up at the same rate as freight has,” Colace said.

But he remains optimistic.

“We think the country is moving on,” he said. “We’re going to be as back-to-business as usual as possible in the first quarter of next year.”

He expected buying patterns to return to where they were in 2019.

“We hope the workforce returns to those levels, as well,” he said.

“If that’s the case, it will be our expectation that freight rates will start to lower because there are more truck drivers coming back into the workforce.”

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Is the U.S. Now Officially in a Recession?

Fri, 28 Oct 2022 20:19:07 GMT

Friday brought mixed news for the economy. While data from the Commerce Department inflation pressures remained high last month, the Labor Department’s Employment Cost Index indicated a slowdown in private-sector wage growth for the third quarter.

Even with a glimmer of hope, the Federal Reserve is still widely expected to bump interest rates another 75 basis points as the Fed works to get inflation under control. And with a recession looming, consumers are already adjusting their spending habits at the meat counter.

“The short answer is yes, we’re seeing consumer behavior change,” says Glynn Tonsor, professor of Ag Economics at Kansas State University who also tracks consumers buying habits through the Meat Demand Monitor.

So, are we in a recession? Tonsor says that’s something you can continue to debate, but it’s more important to watch changes in behaviors versus debating the definition.

“It’s easy to get caught up in the discussion and definition of a recession,” says Tonsor. “I encourage us to hone in on his consumer behavior changing the way you phrase the question and it gets the right way. And price sensitivity, consumers are responding to price stronger than they were a year or two ago. And I think that’s because real wages have declined, and when I say real wages, the cost of living has gone up more than what people are making. So there’s a price squeeze or the financial belt has been tightened in a lot of households.”

Tonsor says meat protein is one of several categories there’s evidence consumers are tightening their belt in their buying decisions.

“We’re seeing some trading down within the protein complex,” adds Tonsor. “Think about going from a bacon product to a ham product, or from a ribeye steaks to a sirloin steak. There’s a lot of examples like that. But the meat demand monitor project at K-State gives us a lot of points on that. And the short answer is yes.”

There’s also a debate on what’s fueling inflation, a factor in the recession debate. The supply chain issues are one, but some also think excessive government spending is fueling the higher prices consumer are seeing.

While the debate on why inflation is so high will continue, Lonnie Hobbs, Jr., a PhD candidate in Ag Economics at Kansas State University says it’s not just one thing aiding the higher costs.

“In terms of the supply chain, we’re seeing these rise in prices because of a variety of factors such as rising transportation costs, rising cost of ingredients, rising costs of the processing that goes along with a lot of these products,” says Hobbs. “We are seeing rising prices in all areas that can at times be good for the farmer [prices they receive], but in terms of consumers, it may alter some of their purchasing decisions.”

The transportation issues aren’t going away either. Low river levels and a looming rail strike in mid-November are two transportation issues that could fuel higher transportation costs. So, will the supply chain transportation issues go away anytime soon?

“In the short term? I will say no, I would see this going on into the next year,” says Hobbs. “I think over time, things will get better, especially as the labor force begins to pick up. But I do think that this is something that farmers should be aware of moving into the new year.”

U.S. Diesel Crisis Lingers as Europe Prepares for Russian Oil Ban

Mon, 24 Oct 2022 18:37:48 GMT

President Biden has another fuel crisis at hand: diesel. Tapping the Strategic Petroleum Reserve (SPR) won’t help much due to the lack of refining capacity.

Global diesel and distillate fuel stocks have fallen to dangerous levels and the U.S. has been exporting a lot of diesel to Europe and Latin America, but now things are changing. U.S. buyers are snapping up diesel cargos originally planned for Europe as the crisis deepens.

Europe’s Plan B

Europe is currently buying a lot of Russian diesel to fill the gap, but this will have to stop next February as the embargo on Russian fuels kicks in. Argus reported that Europe is in for a major diesel supply shock because of low inventories and strong demand.

U.S. Export Ban Revisited

Banning U.S. exports to secure supply is one option under White House review. A ban on exports could “decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices and alienate U.S. allies during a time of war,” wrote Mike Sommers of API and Chet to Jennifer Granholm, U.S. energy secretary.

If diesel exports are banned, it will not please Mexico, Brazil and Chile who are short of diesel. In July, the last month with available full data, U.S. diesel exports to Latin America hit a record high of 1.2 million barrels, double the amount a decade ago.

Another Option of the U.S.

Biden could, instead, force oil companies to build up stocks quickly ahead of the winter by setting a minimum inventory level, similar to what the European Union did for natural gas stockpiles. Problem again is that this would lead to surging prices in Latin America as it would force American refiners to import more or reduce their exports — or both.

Either way, prices will likely continue to surge, as they have this week.

Markets React

Wholesale diesel prices in the spot market of New York harbor, a key pricing point, surged this past week to more than $200 per barrel. Bloomberg notes that excluding a three-week period from late April into mid-May, that would be a record high.

As a result, American refiners have the best-ever diesel margins, with the profit of turning a barrel of crude into one of diesel hitting a record high of $86.5 per barrel, up about 450% from the 2000-2020 average of $15.7 per barrel.

The current level is the lowest ever recorded for this time of year. Because most food and grocery items are transported via truck, cost structures will remain troubling and limit relief for consumers as winter approaches.

Facts and Figures

Currently, the U.S. has just 106 million barrels of diesel and heating oil in commercial stocks; the last time inventories were that low in mid-October was in 1951, when Democrat Harry Truman was in the White House. Typically, inventories should be 30% higher this time of the year.

More on fuel:

This Researcher Looks to Uncover Renewable Diesel Source in Unique Place
John Phipps: It’s Now Less About the Supply of Oil, And More About Refining Capacity in the U.S.

U.S., China Container Shipping Rates Plummet 50%, Backlog of Unfilled Orders Grows

Fri, 23 Sep 2022 18:05:17 GMT

As backlogs at U.S. ports and climbing shipping rates plague the supply chain, new data shows shipping rates between the U.S and China are dropping by more than 50% in just a month.

Data provided by digital freight forwarding company Shifl shows China/U.S. spot freight rates, for shipping a 40-foot container from China to Los Angeles, dropped by $9,000. That’s a 51-percent drop between September and October.

Experts say China is slowing production due to a power crisis and the off-season coming into view, but issues remain due to a growing backlog of unfulfilled orders.

Earlier this week, AgDay reported that Port officials say strong American consumer demand has continued unabated for more than a year, as the Port of Los Angeles has seen a 30% increase in cargo volume so far this year. That’s as exports from the Port of Los Angeles dropped 23% in August.

It’s impacting agriculture in the U.S. because of record-high shipping rates. That’s coupled with the fact that some shipping lines are working to get empty containers back to factories in Asia as quick as possible.

How is the Pandemic Affecting Agriculture’s Workforce?

Thu, 22 Sep 2022 00:56:47 GMT

Confidence about the future of the workplace has declined less than one might expect, says a report from ADP Research Institute . Positivity persists despite the COVID-19 pandemic.

In fact, the study says optimism about the next five years of the workplace increased from 79% in January 2020 to 84% in May 2020 in the U.S. The most optimistic group are young people ages 18 to 24, ADP reports.

Although one in five workers believe their job will not exist five years from today, most are upbeat about the flexibility of opportunities they will have in the figure, which ADP reports is virtually unchanged since before the crisis hit.

But how is the pandemic affecting the agricultural workforce?

Need for Farm Labor Remains Strong
According to Valerie Duttlinger, chief analytics officer at Summit SmartFarms, “Nearly all of the farms I am visiting with are not fully staffed and are actively trying to hire people. The unemployment is not impacting rural areas like it is the urban areas.”

The pandemic hasn’t slowed the seed sales job market down a bit, says Craig Spray, dealer manager for central and eastern regions at Beck’s Hybrids.

“Talented people in our industry are always in demand,” Spray says. “You would have thought with all the uncertainty in the world, people would be paralyzed and not want to move into new career opportunities. But we found the opposite to be true.”

For The Maschhoffs’ pork business, the pandemic has created more fluctuation than normal when it comes to finding employees.

“Our applicant pool for animal caregivers has fluctuated quite a bit throughout the COVID-19 pandemic. And, it has been different from region to region. Some weeks, our HR team reports an uptick in applications. Other weeks, we have very few applications,” says Josh Flint, director of recruitment, retention and communication for The Maschhoffs. “When it comes to office roles (accounts payable, IT, etc.) we have seen an uptick in applications. This is primarily for job functions that are not necessarily swine-specific.”

Flint notes that many of the people they have been interviewing have been laid off due to COVID.

Help People Feel Safe at Work
The ADP study says 44% of employers now have official flexible working policies in place, up from 24% pre-COVID-19.

However, for most swine industry roles, working from home is not an option. But where it is, Flint says the pandemic has motivated their company to make adjustments.

“We have worked very hard to accommodate our employees during this period of uncertainty. This has included increasing work-from-home capabilities and flexibility for those positions where this makes sense. It also includes bolstering our leave and communication policies to keep our employees safe,” Flint says.

During an employee feedback survey conducted in late summer 2020, Flint says employees were extremely appreciative of The Maschhoffs’ response to COVID-19.

“Employees are concerned about their health but often more concerned about the health of family members that they may take it home to,” Duttlinger says. “Companies need to do what they can to help people feel safe at work.”

To help protect their employees when the pandemic first started, Beck’s Hybrids worked with a skeleton crew at the main office and allowed many employees to work from home. However, most of their employees are back in the office now, Spray adds.

“I think as we look forward, we may see a shift in perhaps allowing more of those employees that used to come to the office every day work from home, as long as they can continue to be effective and manage their responsibilities at work,” Spray says.

Don’t Lose Sight of Relationships
During this time, part of feeling safe at work is limiting interaction employees have with each other. Duttlinger notes this can create a sense of disconnection and suggests finding ways to increase communication in other ways to help counter the isolation.

“If you have reduced face-to-face meetings, then you need to increase communication in other ways,” she says. “Video communication is a great alternative.”

For example, Beck’s Hybrids’ leadership team has been taking a more active approach at putting out video content to just stay in front of their employees and dealers. They also had to cancel their December dealer meeting in Indianapolis and moved to virtual video presentations and award ceremonies.

For an industry like agriculture, relationships and community building are critical to success.

“We want to really be careful that we don’t misplace relationships during this time of uncertainty because the relationships piece of our businesses and relationships amongst employees is key,” Spray says. “That’s what builds your culture and helps maintain your culture.”

It’s always a good time to remind people about the important role they play in the industry, but now is more critical than ever before, Duttlinger adds.

Spray says the added investment they’ve made in empowering employees during the pandemic has paid off.

“It’s like a marriage or anything else, if you don’t work on that relationship and make it a priority, eventually it’s going to erode,” he says. “You’ve got to continue to work on relationships.”

(Farm Journal)

Source: ADP Research Institute

More from Farm Journal’s PORK:

4 Ways to Achieve Top Performance on Your Farm

Worker Absenteeism in Packing Plants is No Surprise

Ag Leaders Urge Labor Reform in Historic Hearing of Judiciary Committee

Thu, 22 Sep 2022 00:55:28 GMT

U.S. agriculture is suffering from a labor shortage that could increase production costs and consumer food prices if not addressed through visa reform to provide better access to the foreign-born workers on which it depends, explained National Pork Producers Council (NPPC) President Jen Sorenson before the Senate Judiciary Committee hearing, “Immigrant Farmworkers are Essential to Feeding America” on Wednesday.

“During this pandemic we’ve all been forced to face the reality that our food supply chain depends, to a great extent, on the labor of immigrants. In every step of the food production process, from the moment a crop is planted to the moment our grocery bags are handed to us, there’s an immigrant worker who plays a critical role in feeding our families. Their work is essential and it’s never easy,” said Sen. Dick Durbin (D-IL), chair of the Judiciary Committee.

(Farm Journal)

Historic Testimony
For the first time in over 20 years, the U.S. Secretary of Agriculture testified before the Judiciary Committee on the importance of farmworkers in the U.S. Vilsack said there is an estimated 2.5 million farmworkers, half of whom are undocumented.

“Our immigration system does not work for them and, thus, does not work for our farmers. As Secretary of Agriculture, I have met farmers and ranchers across the country who worry that our immigration system is broken and continually feel the consequences. They struggle with the uncertainty of the labor force from harvest to harvest, worrying they will be unable to find farmworkers to keep them in business. This kind of instability jeopardizes our farmers’ ability to be competitive, puts in question the security of our food supply and has repercussions on our overall economy,” U.S. Secretary of Agriculture Tom Vilsack said.

He described a discussion where the New York Farm Bureau president and a Vegetable Grower Association representative in New York shared they put out an advertisement for additional farmworkers and they didn’t get a single response.

“Not a single person responded to the ad for additional opportunities to work in this industry. It is clear this industry is dependent on immigrant workers. There are numerous examples of situations where requests were made for U.S. workers to work in these jobs and there was very little response if any,” Vilsack said.

This is a reoccurring story, Vilsack added. It’s replayed every day in packing plants, in fields and on farms.

“Immigrant labor comes in and does the difficult, challenging work that the rest of us are not interested in doing,” he said. “They do it well and they have the notion of being able to supply opportunity for a better life for their family. They care deeply for their family, sacrificing, working hard to make sure their families have a better life. We need to figure out something that allows them to have this connection with their family that the rest of us have every day.”

(Farm Journal)

Stop Kicking the Can Down the Road
Vilsack applauded grower groups and unions for coming together and reaching a compromise and supporting the bipartisan Farm Workforce Modernization Act of 2021, which passed out of the U.S. House of Representatives on March 18 with a vote of 247-174.

“This legislation provides farmworkers – many of whom have lived in this country for years – an opportunity to earn citizenship,” Vilsack said. “With legal status and a path to citizenship, farmworkers would be able to earn higher wages and exercise their rights under our labor laws to demand better working conditions.”

Shay Myers, a vegetable grower in Oregon, testified before the Senate Judiciary Committee and strongly urged action on the Farm Workforce Modernization Act, which he said must include Green cards for those who keep America fed and consistent access to labor for farmers through H-2A visas.

“Let’s be honest with ourselves, the last 36 years of policies and political failures have led us here. Now is the time to act. It’s not ethical, it’s not economically viable and it’s not safe to kick this can down the road yet again,” Myers said. “I urge USCIS to process H-2A petitions much faster to meet the needs of farmers, and I urge Congress to reform the H-2A and H-2B visas to better serve our food supply chain.”

(Farm Journal)

Year-Round Access to H-2A Visa Program
U.S. pork production is a year-round effort, requiring a hardworking and dedicated workforce on farms and in processing plants.

“Pork producers offer jobs with good pay and benefits, but most Americans do not live near hog farms or harvest facilities and rural populations continue to decline, causing the U.S. pork industry to be largely dependent on foreign-born workers,” Sorenson explained.

“Current visa programs designed for seasonal agriculture — such as the H-2A visa — fail to meet the workforce needs of U.S. pork producers and other year-round livestock farmers. Now more than ever, we need a dedicated, year-round workforce,” Sorenson told the committee.

If not addressed, she said the labor shortage “could lead to farms and packing plants shutting down, causing serious financial harm to the communities in which they operate. As a result, pork production would be constrained, leading to higher food prices for consumers and the United States becoming an unreliable trading partner for the many countries around the world that rely on our pork.”

NPPC is advocating for year-round access to the H-2A visa program without a cap. Legislation passed earlier this year in the U.S. House would offer a capped number of year-round visas.

“While NPPC believes the bill is a step in the right direction, a cap will force different sectors of livestock agriculture to compete against one another for the same limited number of year-round visas. In that scenario, no one wins and, ultimately, the consumer will be punished with reduced pork supplies and higher prices at the store,” Sorenson testified.

Read More:

Ag Labor Reform Hearing to Address H-2A Visa Program

One-Fifth of President’s Recent Executive Order Impacts Agriculture, Draws Mixed Reaction from Farm Groups

NPPC Calls for Labor Reform, Seeks Changes to H-2A Visa Program

New H2A Wage Rule Ensures More Stability for Farmers

AgCareers.com Launches Feed Your Future U.S. Series of Virtual Career Fairs

Thu, 22 Sep 2022 00:55:10 GMT

AgCareers.com announces the new 2021-2022 season of Feed Your Future virtual career fairs across the United States.

AgCareers.com developed this Feed Your Future initiative last year to virtually connect agri-food employers and job seekers, addressing travel constraints on traditional in-person recruitment events. Careers in agriculture and food remain essential, and virtual recruiting is here to stay.

Organizations need qualified talent to fill workforce gaps in agriculture and food. Whether candidates are ready to explore a new career or even a new industry, there’s a place for them to make a difference in the agriculture and food industry. There are abundant opportunities in production, logistics, finance, processing, technology, packaging, and much more. Careers are available on the farm, in the field, plant, lab and office.

Virtual Career Fairs
Feed Your Future virtual career fairs will highlight and connect job seekers and employers with career opportunities throughout the food chain. U.S. region-specific career fairs start on Oct. 14. There will also be fairs for skilled trades, college students, and FFA members. Registration and details for each fair are available here: https://www.agcareers.com/feed-your-future.cfm .

Read more from why virtual recruiting is here to stay.

Business as Usual

Thu, 22 Sep 2022 00:54:57 GMT

By Bonnie Johnson, AgCareers.com

The critical nature of the agricultural industry has required that many agricultural employers continue business operations as normal. As part of AgCareers.com’s annual Agribusiness HR Review survey of ag employers across the United States, in 2021, AgCareers.com added questions to assess employers’ COVID-19 response and plans.

Of the U.S. ag employers surveyed in the AgCareers.com Agribusiness HR Review, 90% were operating as usual. AgCareers.com also asked about the likelihood of mandatory employee vaccinations. Nearly 90% reported they do not plan to require staff to be vaccinated, just over 1% plan to require vaccinations and 10% were unsure.

Over half of companies noted that they had enhanced benefits or wellness offerings considering the pandemic. The most common enhancement was work from home or flexible schedules. Wellness benefits, including mental health and fitness, were also notable enhancements.

COVID-19 changed the way we work and interact with one another, both personally and professionally. Work-from-home became necessary for some employers, or employee types, to continue business operations. As employers look forward to a post-COVID-19 state, almost half indicated they will allow some or all employees to work from home. Sixty percent of employers currently have some employees working from home. Due to the critical nature of on-site farming and ag production operations, 36% of employers said none of their employees are eligible to work-from-home.

(Farm Journal)

Source: AgCareers.com

This article features results from the special COVID section of the HR Review; the full report includes annual information on salary reviews, employee attrition, workforce trends, professional development, bonuses, recruitment, and employer branding. Download a free copy of the full AgCareers.com 2021-2022 U.S. Agribusiness HR Review report at agcareers.com/reports.cfm .

Read More:

The Pandemic Shift: Mental Wellness at Work

Hire for Attitude

Equip Future Agricultural Leaders: AgCareers.com Roundtable to Discuss Pivotal HR Trends

Thu, 22 Sep 2022 00:54:03 GMT

Examining employment, workforce, and hiring trends takes on a whole new level of importance after the pivotal events of the past two years.

“In the 20 years of the annual AgCareers.com HR Roundtable , there’s never been a more important time for gathering to discuss these significant changes, analyze the evolution of the agriculture and food industry, and plan for the future of the workforce,” said Kathryn Doan, AgCareers.com Director and CVO.

The 20th Anniversary Ag & Food HR Roundtable is back in-person August 3 & 4, 2022 in Nashville, Tennessee, hosted by Tennessee State University.

For two decades, AgCareers.com has customized fresh roundtable content every year to reflect current industry trends and focus educational sessions on high-interest recruitment and retention issues. This year’s sessions will discuss industry disruption, recruiting new graduates, retention tactics, benefit expectations, building trust in the workplace, diversity, equity and inclusion and much more.

Participants may customize their experience with selections of additional breakout sessions, including topics such as immigration, HR technology, employee wellness, onboarding, reskilling, or military veteran recruitment, among others. SHRM and HRCI continuing education credits are available.

Talent leaders, content-matter experts, and top agricultural industry representatives will share their knowledge and experiences to provide valuable take-aways for all participants, including managers, leaders, human resource professionals, talent acquisition specialists, career advisors, and educational and association representatives.

A few of the featured speakers include:

• Adrian J.R. Davis, Consulting Associate, The Ken Blanchard Companies®: Building Trust in the Workplace

• Julie Davis, Senior Director Workforce and Industry Initiatives, Association of Equipment Manufacturers: Industry Disrupted—Managing the Future of Work

• Randy Irvin, Director of Equity, Diversity and Inclusion, Nutrien: DEI Strategies that Work

• Katie Gaebel, Ph.D. Director of Programs, Agriculture Future of America: The Evolution of Student Recruitment

• Whitney Kinne, Career + Leadership coach: Professional Development—Cultivating Your Own Career

• Scott Stump, CEO, National FFA Organization: Building the Talent Pipeline

• Kara Yarnot, VP Strategic Consulting, HireClix: New Technology in Recruitment & HR

• Rachel Beardsley, Partner, Fragomen & Becky Straughn, Director, Human Resources, Smithfield Foods: Employment-Based Immigration Solutions

In addition to these speakers and topics, the combination of employers and educational professionals provides a unique and rewarding networking experience found nowhere else. Participants will build connections during the welcome reception at Hard Rock Café, the celebration dinner at Johnny Cash’s Bar & BBQ, along with lunches and morning table topic networking.

Register before June 15 to take advantage of the early bird discount. For more information, visit https://www.agcareers.com/hr-round-table.cfm or email agcareers@agcareers.com.

About AgCareers.com

The AgCareers.com mission is to provide global talent solutions in agriculture and food. They strive to “Feed the World with Talent” in the industries they serve. AgCareers.com’s passion is agriculture, demonstrated through their investment in time and resources that engage candidates and employers in the industry. They work to build the pipeline of talent to the industry by expanding knowledge about the breadth of career opportunities in agriculture. For more information, visit www.AgCareers.com.

Labor Contract Negotiations Continue Past Deadline at Some of America's Most Important Ports

Thu, 14 Jul 2022 20:42:26 GMT

U.S. Labor Secretary Marty Walsh remained optimistic about contract negotiations between workers and shipping companies for some of the country’s most important ports, even as talks extend past a previous deadline.

Walsh’s comments come as union dockworkers at 29 West Coast shipping hubs were unable to reach an agreement with port employers before the current contract’s expiration on July 1. Both sides have pledged to continue normal operations at ports until an agreement is reached. Still, the prospect of an informal work slowdown has shippers on edge. More than 150 agriculture and business groups are urging the Biden administration to get the two sides in labor talks on West Coast shipping operations to extend their current contract while a new agreement is finalized. The contract between the Pacific Maritime Association (PMA), which represents port operators, and the International Longshore and Warehouse Union (ILWU), which represents dock workers, expires July 1.

In a letter to President Biden, the groups also suggested the administration work with the PMA and ILWU to get them to remain at the negotiating table, negotiate in good faith until a new contract is reached and agree not to engage in any activity, such as a strike or lockout, that disrupts port operations. The agriculture and business organizations want to avoid disruptions such as those that occurred in late 2014 into early 2015 at West Coast ports. Work slowdowns then cost the U.S. meat industry millions of dollars in lost export sales.

Freight rates are starting to fall as shipping demand wavers and the U.S. economy slows.

The reduction in transportation costs is good news for manufacturers and retailers after two years of rapidly rising expenses. The Wall Street Journal reports it also suggests the contribution of the freight sector to inflation is at least leveling off, though shippers note they are still paying several times more than they did before the Covid-19 pandemic snarled supply chains world-wide. Meanwhile, the Global Port Tracker projects containerized imports into the U.S. will turn negative on an annual basis next month.