USDA's farm income forecast is a bit higher than in September, but USDA still sees it falling 17% below 2022's record. Lower commodity prices, lower government payments and higher expenses force more farms to dip into working capital and utilize more debt.
Retail fertilizer prices continued to be mixed with prices for five of the eight major fertilizers slightly lower compared to last month. UAN28 led fertilizers lower, down 6% from last month with an average price of $338 per ton. The remaining three fertilizers were slightly higher in price compared to the prior month.
With no option to appeal a negative ruling, the U.S. dairy industry is weighing its options on how to respond to the latest trade battle with Canada over dairy imports and tariffs.
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Quote of the Day
"Prejudice is a burden that confuses the past, threatens the future and renders the present inaccessible."
A storm system continues to build in the Southern Plains. Showers and some thunderstorms have spread across Texas, Oklahoma, and the Lower Mississippi Valley early Thursday afternoon. » More DTN Weather Commentary