Economy NPR Digital Services RSS Generator 0.94 NPR Digital Services RSS Generator 0.94 Economy Wed, 21 Apr 2021 12:06:11 +0000 https://www.harvestpublicmedia.org Amy Mayer The U.S. Department of Agriculture predicts consumers will be paying less for beef, pork, lamb, chicken and turkey in early 2018 than at the start of 2017. Not so for eggs. https://www.harvestpublicmedia.org/post/egg-prices-expected-rise-first-months-2018 420 as https://www.harvestpublicmedia.org Thu, 28 Dec 2017 15:00:00 +0000 Egg Prices Expected To Rise In First Months Of 2018 Grant Gerlock In places where the unemployment rate is well below the national average — states like Nebraska, Colorado and Iowa — one would think it’d be easier for communities to recruit new residents to fill open jobs. But the housing market works against rural towns and cities where jobs often stay open because there are too few affordable homes and apartments to buy or rent, or the ones that are affordable need lots of TLC. It’s a situation that threatens to turn low unemployment from an advantage into a liability. https://www.harvestpublicmedia.org/post/help-wanted-signs-dot-rural-areas-catch-housing-hard-come 421 as https://www.harvestpublicmedia.org Thu, 21 Dec 2017 16:38:43 +0000 Help Wanted Signs Dot Rural Areas. The Catch? Housing Is Hard To Come By Grant Gerlock Many rural businesses and farms will benefit from the tax overhaul passed Wednesday by Congress. But there’s a catch: If the changes fail to spur economic growth as intended, programs that rural areas rely on could be on the chopping block. One provision in the massive bill, which President Trump has yet to sign into law, allows small business owners to deduct 20 percent of their business income. It also expands the deduction for small business investment — a popular provision among farmers, who can write off the cost of things like a new tractor. https://www.harvestpublicmedia.org/post/sweeping-changes-us-tax-code-mixed-bag-farmers-rural-hospitals 419 as https://www.harvestpublicmedia.org Wed, 20 Dec 2017 21:19:26 +0000 Sweeping Changes To U.S. Tax Code A Mixed Bag For Farmers, Rural Hospitals Grant Gerlock The farm economy is showing some stability, the U.S. Department of Agriculture says, but the upswing doesn’t extend to all agricultural sectors. Over the last three years, farm earnings have plummeted , eliciting concerns that the farm economy could tumble toward another farm crisis like the 1980s . For 2018, the USDA expects net farm income to rebound by a modest 3 percent nationwide, to $63 billion. https://www.harvestpublicmedia.org/post/usda-farm-economy-upswing-not-everyone 409 as https://www.harvestpublicmedia.org Thu, 30 Nov 2017 02:16:14 +0000 USDA: Farm Economy On The Upswing, But Not For Everyone Peggy Lowe Of all the expensive machinery Tom Giessel worked during the 2017 wheat harvest, his favorite sits in the office of his home. It’s a microfilm machine, the kind found in a high school library. Giessel uses it for his work as the historian of the National Farmers Union, the nation’s second-largest farm group. https://www.harvestpublicmedia.org/post/farm-economy-downturn-prompts-fears-crisis 342 as https://www.harvestpublicmedia.org Sun, 23 Jul 2017 13:20:00 +0000 Farm Economy Downturn Prompts Fears Of A ‘Crisis’ Amy Mayer Belt-tightening has been the trend for row-crop farmers in the Midwest for the past several years as corn and soybean prices remain low. Reducing application of expensive herbicides may be tempting to save money, but that’s a strategy that could result in severe economic consequences down the road. “We understand the need to cut costs, but in terms of weeds we need to look in the long run,” says Bob Hartzler, a weed scientist at Iowa State University. “There’s the old saying ‘one year’s seeds equals seven years’ weeds’ and in the past farmers recognized that. But as we developed more effective herbicides, there was a period in time when that old adage didn’t hold true.” Now he says some weeds have become resistant to the herbicides and if even a few are left in a field, the following year they could come back with a vengeance. So, quite to the contrary of saving money on weed control this year, Hartzler is calling for more aggressive, comprehensive management. “As weeds have adapted https://www.harvestpublicmedia.org/post/scientists-say-don-t-cut-costs-weed-control 312 as https://www.harvestpublicmedia.org Fri, 12 May 2017 18:20:54 +0000 Scientists Say Don’t Cut Costs On Weed Control Jeremy Bernfeld After publicly stumping for the Trans-Pacific Partnership trade deal, many in the agriculture industry were forced to re-group Monday after President Donald Trump formally backed out of the trade pact . https://www.harvestpublicmedia.org/post/farm-groups-anxious-trump-pulls-us-out-tpp-trade-deal 55 as https://www.harvestpublicmedia.org Tue, 07 Mar 2017 19:15:51 +0000 Farm Groups Anxious As Trump Pulls US Out Of TPP Trade Deal editor There are many challenges to farming for a living: It's often grueling work that relies on unpredictable factors such as weather and global market prices. But one aspect that's often ignored is the cost of health care. A University of Vermont researcher found that nationally, most farmers cited health care costs as a top concern. Shoshanah Inwood is a rural sociologist at UVM. She has been studying the aging and shrinking farm population, and what components are needed to build a prosperous farm economy. Inwood says she hadn't thought about health care in particular as a factor until she conducted an unrelated survey in 2007 of farmers working the land in areas facing population growth and development pressures. The survey asked, "What are the issues affecting the future of your farm?" "And we assumed when we got that survey back, we would get things like the cost of land, the cost of inputs, neighbors. The number one issue facing farmers was the cost of health insurance. They https://www.harvestpublicmedia.org/post/health-insurance-woes-add-risky-business-farming 23 as https://www.harvestpublicmedia.org Tue, 28 Feb 2017 19:29:50 +0000 Health Insurance Woes Add To The Risky Business Of Farming Grant Gerlock Cabela’s is known for big stores filled with museum-grade taxidermy and shelves piled with hunting and fishing gear. The Cabela’s store in Sidney, Nebraska, sits along Interstate 80 with a giant bull-elk sculpture facing the freeway. Next door is the sprawling company headquarters, complete with a forest-green Cabela’s water tower. The “World’s Foremost Outfitter,” as its slogan goes, has called Sidney home for nearly 50 years. Sidney is such a Cabela’s town that the fire hydrants are Cabela’s green and yellow. But now the homegrown company, which notched $4 billion in revenues last year, plans to become part of Missouri-based hunting-fishing outfitter Bass Pro Shops as part of a $5.5 billion merger announced in October . That leaves the residents of Sidney, a city of 6,800 in western Nebraska, wondering how many people, out of around 2,000 who work at Cabela’s, will stick around. And it leaves another rural town scrambling to stay viable. “We’re all worried. You’d be a little naïve https://www.harvestpublicmedia.org/post/multi-billion-dollar-cabela-s-merger-puts-rural-nebraska-city-economic-crossroads 70 as https://www.harvestpublicmedia.org Wed, 04 Jan 2017 14:05:00 +0000 Multi-Billion-Dollar Cabela’s Merger Puts A Rural Nebraska City At An Economic Crossroads Jeremy Bernfeld Shareholders of agricultural seed and chemical giant Monsanto agreed to a merger Tuesday, moving the controversial deal one-step closer to fruition. German drug and chemical maker Bayer plans to pay shareholders $66 billion to take over Missouri-based Monsanto. That breaks down to $128 per share if the merger closes. Already dominated by just a few large firms, the industry that sells seeds and chemicals to the world’s farmers could further consolidate in the coming months, as five of the six largest companies are pursuing deals that could leave a market dominated by just three behemoth, global companies. In addition to Bayer’s purchase of Monsanto, Dow and DuPont plan to merge and then spin off three related companies, and China National Chemical Company, often known as ChemChina, plans to purchase Syngenta. Industry consolidation has lead to worries by some consumer and environmental groups that these new companies will wield undue power over the global food system. The companies, https://www.harvestpublicmedia.org/post/shareholders-missouris-monsanto-approve-merger-deal 73 as https://www.harvestpublicmedia.org Tue, 13 Dec 2016 21:16:00 +0000 Shareholders Of Missouri's Monsanto Approve Merger Deal Jeremy Bernfeld Profit from U.S. farms will sink to its lowest point since 2009 this year if Agriculture Department predictions are correct. U.S. net farm income is expected to drop for the third-straight year in 2016, dropping 17.2 percent from the 2015 estimate to $66.9 billion, according to projections from the U.S. Department of Agriculture released on Wednesday. The livestock sector is expected to be particularly hard hit. “Nearly all major animal specialties—including dairy, meat animals, and poultry/eggs—are forecast to have lower receipts,” the USDA said in a release. USDA economists forecast cattle and calf receipts to drop nearly 15 percent from last year’s estimate to $11.6 billion. Government programs meant to shore up farmers in lean times could pump billions of dollars into the farm economy, Agriculture Secretary Tom Vilsack said in a statement. “The comprehensive farm safety net provided by the 2014 Farm Bill will continue to help America's farmers and ranchers respond to market https://www.harvestpublicmedia.org/post/usda-forecasts-farm-income-sink-seven-year-low 76 as https://www.harvestpublicmedia.org Thu, 01 Dec 2016 20:19:00 +0000 USDA Forecasts Farm Income To Sink To Seven-Year Low Amy Mayer As another harvest season wraps up, Midwest farmers are once again facing low commodity prices amid enormous supplies. And when they recover from the long days bringing in the grain, they will eventually sit down with their books and try to figure out how best to farm again next year. Many will turn to an agronomist for advice. Field agronomists, experts in soils, plants, insects, diseases and more, have long been the first point of contact for farmers searching for help. Today, as farmers rely as much on data and research as on tractors and combines, agronomists and their network of experts are as important as ever to many Midwest farmers. How does the connection between research and practice work in farm country? To understand the job better, I tagged along with Angie Rieck-Hinz, an Iowa State University Extension field agronomist in north-central Iowa. On my first trip with Rieck-Hinz, we follow a father-son farmer team from their home farm along two-lane county roads until we come https://www.harvestpublicmedia.org/post/down-economy-has-many-midwest-farmers-looking-agronomists-advice 78 as https://www.harvestpublicmedia.org Mon, 21 Nov 2016 15:23:00 +0000 Down Economy Has Many Midwest Farmers Looking For Agronomists’ Advice Jeremy Bernfeld The current run of down times for farmers are only going to get worse, according to many farmers. Nearly 80 percent of the 400 farmers and agricultural producers surveyed in October by Purdue University researchers said they expect bad financial times in the next year, a jump of 11 percentage points since a September survey. More than a quarter of the farmers surveyed expect the prices of corn and soybeans, the nation’s most important crops, to dip below break-even levels. That, says Purdue agricultural economist Jim Mintert, could really cost the rural economy. “People that think that are really pulling back,” Mintert says. “They’ve really battened down the hatches and are trying to hold back on every possible expenditure if you think that’s a likelihood.” The Purdue/CME Group Ag Economy Barometer , an index that attempts to measure the health of the U.S. agricultural economy, fell to its second-lowest reading in November since data collection began in October 2015. Mintert attributes https://www.harvestpublicmedia.org/post/rural-economy-could-suffer-pessimism-looms 82 as https://www.harvestpublicmedia.org Sat, 05 Nov 2016 11:01:00 +0000 Rural Economy Could Suffer As Pessimism Looms Amy Mayer The massive industry that supplies farmers with the tools to raise crops is on the brink of a watershed moment. High-profile deals that would see some of the largest global agri-chemical companies combine are in the works and could have ripple effects from farm fields to dinner tables across the globe. Six companies currently dominate the marketplace for agricultural seeds and farm chemicals, like fertilizer and pesticides: BASF, Bayer, DuPont, Dow, Monsanto and Syngenta. Of those, only BASF is not currently in discussions to merge. Dow and DuPont want to join forces and then spin off three separate companies, one of them dedicated to agriculture. Monsanto, currently the world’s largest seed company , has accepted an offer from Bayer. And China National Chemical Company, known as ChemChina , wants to purchase Syngenta. In some ways, the growth and consolidation of the agriculture industry is a common story of American business: growth snowballed until small companies become part of https://www.harvestpublicmedia.org/post/seeds-pesticides-fertilizer-how-big-companies-harnessed-holy-trinity-modern-agriculture 85 as https://www.harvestpublicmedia.org Mon, 31 Oct 2016 21:33:00 +0000 Seeds, Pesticides, Fertilizer: How Big Companies Harnessed The ‘Holy Trinity’ Of Modern Agriculture Amy Mayer Five of the six biggest companies that produce and sell seeds and chemicals to the world’s farmers are pursuing deals that could leave a market dominated by just three giant, global companies. They say getting bigger means bringing more sophisticated and innovative solutions to farmers faster, but opponents say consolidation has irreversible downsides. Dow and DuPont want to merge and then spin off three separate companies, one of them dedicated to agriculture. Monsanto has accepted an offer from Bayer. And China National Chemical Company, known as ChemChina , wants to purchase Syngenta. Most Americans aren’t farmers. But these moves would trigger structural changes to the foundations of our food system and impact all Americans, whether or not they buy seeds, fertilizer or herbicides. Corporate political power Large companies can influence Congress, and some fear that the fewer companies there are in a given sector, the more likely they are to get their way. “Perhaps the biggest https://www.harvestpublicmedia.org/post/why-you-should-care-about-big-ag-companies-getting-bigger 86 as https://www.harvestpublicmedia.org Mon, 31 Oct 2016 14:34:00 +0000 Why You Should Care About ‘Big Ag’ Companies Getting Bigger editor Like most farmers, Mark Nelson, who grows corn, soybeans and wheat near Louisburg, Kan., is getting squeezed. He's paying three times more for seed than he used to, while his corn sells for less than half what it brought four years ago. "It's a – that's a challenge," Nelson says. "You're not going to be in the black, let's put it that way." Low commodity prices are rippling up and down the farm-economy food chain — from the farm to the boardroom — and it has many of the huge companies that control farm inputs looking to a new future. Most of the seeds and chemicals used to grow the world's crops come from just a handful of big companies, and the largest of those multinational companies — Monsanto, Bayer, Dow, DuPont, and Syngenta — are trying to get even bigger. The prospect of fewer, larger companies controlling so much of the basic food supply is giving some farmers and antitrust advocates heartburn. With massive supplies of the world's most important crops, like corn and soybeans, https://www.harvestpublicmedia.org/post/farmers-antitrust-activists-are-worried-big-ag-only-getting-bigger 45 as https://www.harvestpublicmedia.org Tue, 18 Oct 2016 22:44:00 +0000 Farmers, Antitrust Activists Are Worried That Big Ag Is Only Getting Bigger Frank Morris Like most farmers, Mark Nelson, who grows corn, soybeans and wheat near Louisburg, Kansas, is getting squeezed. He’s paying three times more for seed than he used to, while his corn sells for less than half what it brought four years ago. “It’s a – that’s a challenge,” Nelson says. “You’re not going to be in the black, let’s put it that way.” Low commodity prices are rippling up and down the farm economy food chain from the farm to the boardroom, and it has many of the huge companies that control farm inputs looking to a new future. Most of the seeds and chemicals used to grow the world’s crops come from just a handful of big companies and the largest of those multi-national companies -- Monsanto, Bayer, Dow, DuPont, and Syngenta -- are trying to get even bigger. The prospect of fewer, larger companies controlling so much of the basic food supply is giving some farmers and anti-trust advocates heartburn. With massive supplies of the world’s most important crops, like corn and soybeans, https://www.harvestpublicmedia.org/post/face-uncertain-future-ag-industry-titans-pair 228 as https://www.harvestpublicmedia.org Mon, 26 Sep 2016 19:39:05 +0000 In The Face Of An Uncertain Future, Ag Industry Titans Pair Up Amy Mayer The path to normalized relations between the United States and Cuba made a stop in farm country Friday. U.S. Agriculture Secretary Tom Vilsack and his Cuban counterpart, Gustavo Rodriguez Rollero, toured Aaron Lehman’s corn and soybean farm in central Iowa. They talked about water, soil, and energy and compared strategies for managing hog manure, which has been a problem in Iowa. Vilsack said he hopes Cuba can increasingly be an export market for farm products like soybeans, rice and, eventually, poultry. “There is a tremendous opportunity for us to have a solid relationship between our two countries,” Vilsack said, “beginning with agriculture.” Congress has the ultimate authority to revoke the embargo the U.S. has had against Cuba for decades, but the Obama administration has been chipping away at the long-strained relationship. Vilsack said increased connections between the countries, including an agreement signed between the agriculture departments, is boosting America’s image in https://www.harvestpublicmedia.org/post/vilsack-us-relationship-cuba-begins-agriculture 226 as https://www.harvestpublicmedia.org Mon, 04 Jul 2016 19:33:11 +0000 Vilsack: U.S. Relationship With Cuba Begins With Agriculture Jeremy Bernfeld Kansas farmers may be facing some of toughest financial times they have experienced in three decades, largely thanks to low prices for the state’s biggest crops. The average net farm income for farmers in the state plummeted in 2015 to just $4,568, according to a report released this week by the Kansas Farm Management Association (KFMA). The figure is less than 5 percent of the previous year’s average of $128,731. The 2015 KFMA report measures the average net farm income of its members, which include about 10 percent of Kansas farmers that gross more than $100,000 annually, and found the lowest average level of nominal net farm income in Kansas since 1985. The dip is likely driven by low farm prices for corn, soybeans, wheat, grain sorghum and beef cattle. Record and near-record harvests of corn and soybeans, both domestic and global, in recent years have resulted in huge supplies and falling prices. “Long-term profitability is really a concern,” said Elizabeth Yeager, an agricultural https://www.harvestpublicmedia.org/post/net-farm-income-plummets-kansas-farmers 127 as https://www.harvestpublicmedia.org Mon, 20 Jun 2016 13:20:00 +0000 Net Farm Income Plummets For Kansas Farmers Amy Mayer At the grocery store, processed foods like cereal, crackers and candy usually maintain the same price for a long time, and inch up gradually. Economists call these prices “sticky” because they don’t move much even as some of the commodities that go into them do. Take corn, for example, which can be a major food player as a grain, starch or sweetener. Corn prices can fluctuate widely, so why don’t products containing corn also see price changes? Why does your cereal pretty much cost $3 per box every week? It’s partly thanks to the futures market. Farmers use various tools to control the many risks in agriculture. Watching the weather influences when they plant or harvest. Buying crop insurance and selecting farm bill safety net programs helps protect them from crop devastation. But they can also manage some of the threat posed by volatile market prices by participating in the futures market. The futures market helps both producers and users of a major commodity, such as corn, defend https://www.harvestpublicmedia.org/post/watch-how-futures-market-helps-keep-your-grocery-bill-down 135 as https://www.harvestpublicmedia.org Mon, 06 Jun 2016 21:00:00 +0000 WATCH: How The Futures Market Helps Keep Your Grocery Bill Down