Economy and Trade

New USDA data show a University of Idaho Extension agricultural economics report released early this year significantly underestimated Idaho food producers’ 2022 profits while overstating increases to their production costs.

The Senate Agriculture Committee released a newsletter entitled “Farm Bill 101: Growing New Markets for Farmers.” This one-pager is designed to be easily digestible and explain trade markets in layman’s terms.

USDA’s annual Farms and Land in Farms Report shows the country’s largest farms with sales of $1 million or more operate nearly 26% of all American farmlands.  The agency also says there were 2.003 million farms in the nation during 2022, a drop of 0.5 percentage points f...

A new survey finds consumers expect to pay more for groceries this year.  Progressive Grocer reports the 2023 KPMG Winter Consumer Pulse Survey shows consumers anticipate increased prices, but are looking for ways to save money.  The Survey shows consumers expect a 15% increase in grocery spending this year.  Meanwhi...

Tractor unit sales in both the U.S. and Canada remain near their five-year average while combine harvesters in both countries continue triple-digit growth.   The latest data from the Association of Equipment Manufacturers released this week shows that overall U.S. a...

The latest federal data shows that in 2021, the U.S. food and beverage manufacturing sector employed 1.7 million people, or more than 1.1% of all U.S. nonfarm employment.  Within the U.S. manufacturing sector, food and beverage manufacturing employees accounted for the largest share of employees, 15.4%.  Acco...

Last week, the USDA announced that eight companies nationwide were receiving grant dollars to beef up domestic fertilizer production.  Perfect Blend LLC, headquartered in Othello-WA, will receive part of the $29 million announced under the USDA’s Fertilizer Production Expansion Program.   “Today...

The top scams of 2022 targeted rural and urban Americans alike.  No matter where you live, scammers are constantly trying to find ways to con you out of your money.   “Scammers don’t care where you are from," said the AARP's Sean Voskuhl.  "They will tailor their ...

The outlook for agricultural retailers is generally favorable for 2023, following a year of record profits in 2022.  However, the sector faces emerging risks that could depress profit margins and challenge traditional business models in the years ahead.  Lower l...

A large coalition of agriculture and business groups asked President Biden to intervene in the west coast port labor negotiations.  In a letter signed by the groups, including the American Farm Bureau Federation, they say, “It is imperative that the administration work with the parties to quickly reach a new agreement and ensure there is no disruption to port operations."   The c...