Monday, February 5, 2024

Members in The News: February 5, 2024

 Michael Adjemian, University of Georgia

UGA Economic Impact on Georgia Hits New High, Officials Say

By: Yahoo! News – February 2, 2024

“The $8.1 billion impact was said to be a conservative estimate.”

Read more on: Yahoo! News or  Clayton News Daily

John Fox, Mississippi State University
William Maples,
Mississippi State University

  • Value of Mississippi Agriculture Remains High Despite 2023 Hardships
    By: WTVA – December 25, 2023
  • Mississippi Agriculture Posts Second Highest Dollar Value
    By: – December 20, 2023

Steven Deller, University of Wisconsin-Madison

Higher Education Leads To Higher Pay For Wisconsinites, Report Shows

By: Wis Business – January 30, 2024

“When examining the Wisconsin-wide average across different levels of educational attainment, there is a clear upward movement as education increases.”

Read more on: Wis Business

Brent Sohngen, The Ohio State University
Ian Sheldon,
The Ohio State University

Ohio Farm Bureau Podcast: Energy and Trade Outlooks

By: Farm Bureau – January 29, 2024

“Wars, strikes and low water levels are just some of the issues hampering trade for agricultural commodities. What have the impacts been and how long will they last? Ohio State’s Dr. Ian Sheldon talks trade on this Ohio Farm Bureau Podcast. Plus Ohio State Unversity’s Dr. Brent Sohngen gives his 2024 Energy Outlook.”

Read more on: Farm Bureau

Steven Deller, University of Wisconsin-Madison
Paul Mitchell,
University of Wisconsin-Madison

"Agricultural Forum Unveils Rural Trends"

By: Agri-View - January 30, 2024

The state boasts some of the country’s best labor-force participation rates. But labor availability still poses a challenge because there are more job openings than workers in the state. There is a consensus among economists that a recession is unlikely as inflation and interest rates gradually decrease. It looks like we’re going in the right direction."

"Net farm income has decreased 20 percent from its peak in 2022 but overall it’s trending at more than the 30-year average. Looking at dairy trends, cash receipts have decreased 18 percent as producers weathered through a 43 percent price decrease from a peak in summer 2022 – to a five-year worst price in summer 2023."

Read more on: Agri-View

Seungki Lee, The Ohio State University
Ian Sheldon,
The Ohio State University

Farm Outlook Meeting Provides Information To Beginning Farmers

By: The Crescent News -  January 27, 2024

“…Dr. Seungki Lee, of OSU’s Department of Agricultural, Environmental and Developmental Economics (AEDE) with an outlook on the grain market; and Dr. Ian Sheldon, professor and Anderson’s chairman of Agricultural Marketing, Trade and Policy, OSU, with a global economic outlook.”

Read more on: The Crescent News

Ani Katchova, The Ohio State University

Farm Income Expected To Decline

By: Ohio County Journal – January 29, 2024

“For the farm income for 2023 coming from the USDA farm income forecasts, we’re expecting to see large reductions in farm income. Both net farm income and net cash income for 2023 are expected to go down by what is considered the largest drops in history, so by about 23% to 27%, depending on which category you’re looking at.”

Read More On: Ohio County Journal

Cristina Connolly, University of Connecticut
Sandro Steinbach,
North Dakota State University

Study: If You Let People Buy Beer at Grocery Stores, the Liquor Stores Still Survive

By: Reason – January 26, 2024

"Despite repeated claims by liquor store associations, repealing these laws did not harm liquor stores, suggesting that it is possible to repeal Sunday blue laws without negatively impacting smaller businesses. The same data also provides comfort for those who worry that being able to buy alcohol one additional day per week would lead to an explosion in alcoholism and addiction. Our estimates indicate that repealing these laws significantly increased beer sales at grocery and liquor stores directly after the policy shift, but these effects disappeared afterward.”

Read More On: Reason

Xiting Zhuang, University of Connecticut
Sandro Steinbach,
North Dakota State University

Shipping Disruptions May Weigh Heavily On U.S. Ag Exports

By: Successful Farming - January 30, 2024

“Given these conditions, the 2024 outlook suggests continued challenges for U.S. agricultural exports, particularly for critical commodities such as corn and soybeans. These uncertainties will require stakeholders to adapt to the increasingly uncertain global market environment. This adaptation may involve diversifying logistical plans, exploring alternative shipping routes, adjusting schedules, and possibly seeking new markets to mitigate the risks of reduced canal capacity and disruptions in key shipping lanes.”

“Persistently low water levels at the Panama Canal could significantly impact these exports. If ships bypass the canal and go around Cape Horn, voyages take an additional two weeks, with higher costs.”

Read More On: Successful Farming or Pro Farmer, Ag Web

Joseph Janzen, University of Illinois at Urbana-Champaign

Study: How Farmers Decide To Store Or Sell Their Grain

By: Illinois Farmer Today – January 8, 2024

“Economic theory provides guidance that Extension economists have long shared with farmers, but we always say that these decisions depend on the specifics of the farm operation. We haven’t tested the theory against real-world farmer behavior before now.”

Read More On: Illinois Farmer Today

Marcelo Castillo, USDA-Economic Research Service

Role of H-2A Ag Workers Widens as U.S. Labor Sources Vanish

By: Farm Futures Magazine – January 29, 2024

Read article pages here: Page 1, Page 2

Edward Jaenicke, Pennsylvania State University

Common Mistakes That Lead To Food Waste And Strain Your Budget This Winter

By: Salem News Online – January 26, 2024

“Larger households as among the least wasteful because there are more people, so leftovers are more likely to be consumed rather than discarded. Wasted food does more than drain our bank balances. It also significantly impacts climate change, as precious resources, like land, energy, and water, are also wasted along with food.”

Read More On: Salem News Online

Luis Ribera, Texas A&M University
Samuel Zapata,
Texas A&M University

Importance Of Irrigation Water To Lower Rio Grande Valley Agriculture Highlighted In New Report

By: – January 29, 2024

"The past 30-plus years have demonstrated a trend toward fewer and fewer acre feet of irrigation water being available to the region. We did this report at the request of agricultural producers in the Lower Rio Grande Valley who wanted to make people aware of the dire situation they are facing now and the uncertainty of ag production in 2024 due to less irrigation water."

“With the absence of water, irrigated row crops would be assumed to produce dryland yields, causing a reduction in row crop farm-gate values. The dryland yields used in the analysis actually provide a conservative estimate of the potential economic losses, with the total farm-gate loss for row crops estimated at $44.3 million."

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