recession

Oil prices giving up some of the gains that were made last week, trading slightly lower, just below $80 per barrel in Monday’s action.  Patrick DeHaan with GasBuddy said the Chinese economy is tamping down on those prices, after last week’s mini rally.  DeHaan noted that c...

According to the National Milk Producers Federation and U.S. Dairy Export Council, the record milk prices reported in 2022 likely won’t repeat themselves this year, as production increases and consumers grapple with an economic slowdown.  Mem...

Recession fears dominated the headlines out of the World Economic Forum's meeting in Davos.  Those headlines continue to chip away at the optimism that stoked the market last week on prospects that fuel demand would increase in China.  The U.S...

Look at the USDA’s numbers, and you’ll see that 2022 was far and away a record net farm income year.  But the question on the minds of many in farm county is: will 2023 be a better year?   USDA Chief Economist Seth Meyer says the odds are against that happening for a couple of reasons.  First, as he put it, 202...

Oil prices fell on Monday, paring gains after rising to more than two-month highs, on mixed signals over China, the world's top crude importer, potentially relaxing its strict COVID-19 restrictions.  West Texas crude dropped to $91 per barrel at Monday’s close, after jumping up to over $93 at one point Monday; the highest West Texas price we’ve seen since August 30th.   Prices climb...

Dairy farmers are not looking to expand much right now, given the current market conditions.   “Obviously, feed costs and overall input costs and you can throw labor in there and the whole kit and caboodle," said Mike North with the Ag Risk Management Company Ever.Ag.  "That ulti...

Year-over-year consumer inflation in July was 8.5%, down from the 9.1% we saw in June.  The month-over-month inflation was 0%, though that was largely the result of a 4.6% drop in energy prices.  Food prices reported a nearly 11% year over year increase in July, with a 1% month-over-month jump.   ...

When it comes to the overall farm economy, a Federal Reserve official recently told Congress he anticipates a slowdown later this year or early next.  Kansas City Federal Reserve Bank Vice-President Nathan Kauffman told House Ag lawmakers that farm credit conditions have strengthened over the past two years thanks to rising commodity prices and land values.  But the...

Creighton University’s June Rural Mainstreet Index sank into negative territory for the first time since September 2020.  Dr. Ernie Goss is co-creator of the RMI. “Inflation is a really big concern, of course, with the accompanying interest rate hikes. The Federal Reserve,...

Rural bankers say they anticipate a U.S. recession, according to the latest Creighton University Rural Mainstreet Index.  The region's overall reading for June slumped to 49.8, its lowest level since September 2020, and down from May's 57.7.  The i...