Missed some agricultural news this week? Here are seven stories to catch you up.
Beef numbers continue decline
USDA-NASS released their Jan. 1, 2022 cattle inventory estimates earlier this week. From the recent high in 2019, beef cow inventory is down by more than 1.5 million head, which is about 5%. Calf crops will continue to get smaller in the coming year, which is bullish for feeder cattle markets. This also means corn usage for feed will decline.– BEEF Magazine
Case IH adds new planters, air drill
Farmers looking for more planting capacity and flexibility will have new choices from Case IH for the 2023 season. The new 2150S Early Riser planters offer narrow planting options, and the Precision Disk 550 air drill offers improved capacity and precision. Willie Vogt was there to cover the release.– Farm Futures
Fire rages at N.C. fertilizer plant
Winston Weaver Co.’s Winston-Salem fertilizer plant, which manufactures highly flammable ammonium nitrate, caught fire Monday night. Nearby residents were encouraged to evacuate due to explosion risks. The fire is still too fierce to allow crews, helicopters and drones to get into the immediate vicinity. – Bloomberg
New ‘Right to Repair’ bill
A new bill would require original equipment manufacturers to make it easier for farmers to make repairs, including the ability to disable and re-enable an electronic security lock. Sen. John Tester’s Agriculture Right to Repair Act will guarantee farmers the right to repair their own equipment and end current restrictions on the repair market. – Farm Futures
Vaccine protest snarls U.S.-Canadian border crossings
The vaccine mandate for truckers has sparked concerns about delivery problems and higher freight costs at a time when the supply chain is already under strain. Two lanes of traffic have reopened at one of Canada’s busiest border crossings as truckers start to feel their concerns are being recognized. – Bloomberg
Farmer sentiment declines
The Ag Economy Barometer declined in January to the second-lowest reading since July 2020. Disruptions in the supply chain for many farm inputs, coupled with strong demand, are pushing production costs higher. Farmers expect a sharp decline in farm income in 2022. – AP News
Vegetable oil leads food price increase
The Food and Agriculture Organization's food price index rebounded last month, remaining near 10-year highs. FAO said its vegetable oils index rose 4.2% in January to reach record levels, shunted higher by reduced export availabilities and other supply-side constraints.– Reuters