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Farm bank lending increased in 2023

Farm bank lending increased in 2023

Agricultural loan demand increased in 2023, and agricultural lending by U.S. farm banks grew 6.7 percent to $110 billion. The American Bankers Association’s annual Farm Bank Performance Report credits elevated production costs, commodity price volatility, and a return to pre-COVID levels of direct government payments. The ABA says farm banks continued to enjoy solid performance in 2023, with robust loan growth and historically low delinquency rates. “Moving forward, the agricultural sector...

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USDA Angola trade mission successful for U.S. red meat

USDA Angola trade mission successful for U.S. red meat

The USDA Foreign Agricultural Service (FAS) recently led an agribusiness trade mission to Angola from Feb. 26-29. U.S. Meat Export Federation (USMEF) Africa Representative Matt Copeland, who participated through support from the Beef Checkoff Program, said having key...

Secretary Naig to announce 26 Choose Iowa grants on March 20th

Secretary Naig to announce 26 Choose Iowa grants on March 20th

Iowa Secretary of Agriculture Mike Naig will announce the recipients of 26 Choose Iowa Value-Added Grants during an event at Cortum Farm and Co. near Indianola on Wednesday, March 20. The announcement event, which is part of Iowa Ag Week, will begin at 2:30 p.m. The...

Bayer agronomist talks about strategies for 2024 growing season

Bayer agronomist talks about strategies for 2024 growing season

The weather has been throwing us for a loop in agriculture. Whether you are an advocate of permanent climate change, climate cycles, or just luck of the draw; you know that something is going on. No matter what is causing it, we have to be prepared to navigate it to...

Expiration of Tax Cuts and Jobs Act would hurt family farms

Expiration of Tax Cuts and Jobs Act would hurt family farms

The Tax Cuts and Jobs Act is a comprehensive tax cut package enacted in 2017. Dustin Sherer, director of government affairs for the American Farm Bureau, says it’s important legislation for farmers and ranchers. A new Economic Research Service report shows that if the...

Effects of the Tyson plant closure on the hog industry

Effects of the Tyson plant closure on the hog industry

It was announced this week that Tyson plans to shut down another food production facility—this time, a pork production plant in Perry, Iowa. That plant has nearly 1,300 employees and kills about 8,000 head a day. Karl Setzer with Consus Ag Consulting said that, while...

What would return of La Niña weather pattern mean for growers?

What would return of La Niña weather pattern mean for growers?

The National Weather Service Climate Prediction Center this week announced that it foresees a transition from El Niño to ENSO-neutral by April-June 2024 (83% chance), with the odds of La Niña developing by June-August 2024 (62% chance). Typically, the La Niña pattern...

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Senators demand increase in ag exports

Senators demand increase in ag exports

A group of Senate Republicans are urging the Biden administration to take action to increase agricultural exports. U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho), Finance Committee member John Thune (R-South Dakota), and U.S. Senate Agriculture,...