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US Inflation Slows in May as Fed Prepares for Pause on Rate Increases

Inflation in the US slowed again last month, giving room for the Federal Reserve to pause its interest rates when it concludes its two-day meeting on Wednesday. The consumer price index increased by 0.1 per cent in May after increasing 0.4 per cent in April, data from the Labor Department showed. Prices rose 4 per cent on an annual basis, down from 4.9 per cent in April. Core inflation, which excludes food and energy, rose 0.4 per cent last month, in line with estimates. The overall consumer price index was mostly aided by a 3.6 per cent decrease in energy costs. The food index rose 0.2 per cent after a decrease of 0.2 per cent in April. MORE

Source: thenationalnews.com

The U.S. Added 339,000 Jobs in May

Hiring surged last month as U.S. employers added 339,000 jobs, far above expectations, according to a report from the Labor Department on Friday. The job gains for March and April were also stronger than previously reported. The April jobs figure was revised up by 41,000, while the March number was revised up by 52,000. MORE

Source: MN Chamber



Congress Finally Passes Debt Ceiling Compromise - What's Next?

[Earlier this month], the Senate passed legislation to suspend the debt ceiling and restrict government spending through the 2024 election, ending a drama that threatened a global financial crisis. The measure was signed Saturday by President Joe Biden, who forged the deal with Speaker Kevin McCarthy (R-CA) and plans to sign it just days before a looming U.S. default. The congressionally approved legislation would suspend the debt ceiling through Jan. 1, 2025, and set spending caps for FY24 and FY25. Those caps would limit defense spending to a 3.3% increase in 2024 and a 1% increase in 2025, while non-defense discretionary would be cut 8% in 2024 before rising 1% in 2025 — though Democrats plan maneuvers to lessen the non-defense cuts. MORE

Source: Constitution Partners

EPA Keeps Fighting on Biden WOTUS Rule

Despite a significant loss in the Supreme Court that likely will require the EPA to rewrite the Biden administration's waters of the U.S. rule, the agency on Monday filed an appeal seeking review of a preliminary injunction against the rule in 24 states. MORE

Source: greatamericancrop.com

Effects of Climate Change on Farming, Federal Spending Explored by U.S. Senate Panel

U.S. senators on the Budget Committee dug into the impacts of climate change on farming during a Wednesday hearing, raising concerns about what the next few decades hold for food production and the way of life. But Republicans and representatives of farm groups pushed back against increased government regulation. Brent Johnson, president of the Iowa Farm Bureau and a fifth-generation farmer, said farmers tend to respond better to incentives for new programs, rather than penalties. “I think progress is always made better with carrots instead of sticks,” Johnson said. “Voluntary, incentive-based programs have made a lot of positive progress in agriculture in the entire history of the industry.” Chair Sheldon Whitehouse, a Rhode Island Democrat, said the country’s agriculture landscape is being upended by a series of droughts, floods, wildfires and hurricanes that have harmed farmers and contributed to rising grocery bills for consumers. MORE

Source: Michael Best Strategies

Here’s How USDA Will Collect Data from Its Climate Smart Ag Projects

The USDA’s Partnership for Climate-Smart Commodities program represents an investment of over $3.1 billion into US agriculture. The statistics for the program huge: USDA selected 141 proposals from corporations, non-profits, and universities to study ways to increase climate-smart production practices for US farmers and livestock producers. USDA estimates that over the next 5 years more than 60 million tons of carbon dioxide will be sequestered as a result of the program. You can learn more about specific programs on the USDA’s . But what I am most interested in is USDA’s collection of production data from US farms and fields through Climate-Smart Commodities. MORE

Source: agrimarketing.com

Farm Bill Could Include Limit on Foreign Ownership of Ag Land

During its 2023 session, the Georgia General Assembly considered multiple bills proposing prohibition on land ownership by foreign entities, particularly those from nations considered hostile toward the United States. Now, as Congress conducts its work on a new farm bill, the issue of foreign land ownership is drawing increased attention at the federal level. In published reports, the National Agricultural Law Center (NALC) has said a limit on foreign ag land ownership is likely to be proposed as a part of the new farm bill. MORE

Source: morningagclips.com

Tax Bill in Congress Would Slap Tax on People from Countries of Concern Trying to Buy Farmland

People from China, Russia, Iran, North Korea, Cuba and Venezuela would pay a 60% excise tax if they are trying to buy farm ground in the U.S. under a tax bill introduced by the House Ways & Means Committee. The committee will markup a set of tax bills on Tuesday that includes several provisions for extending bonus deprecation and expanding Section 179 deductions and the creation of rural opportunity zones. The "Build it in America" bill, H.R. 3938, would require buyers from "a country of concern" or private businesses that are 10% or more owned by businesses or people from those countries, to pay a 60% excise tax on any purchase of farmland. MORE

Source: Michael Best Strategies



From the U.S. Drought Monitor - Midwest Report

A storm system over the Midwest and Great Lakes over the weekend did little to halt widespread degradation of conditions across the Midwest. Although some locations did experience modest improvements, mainly in areas seeing in excess of 2 inches of rainfall, degradation to moderate drought (D1) and expansion of abnormal dryness (D0) is widespread across the Corn Belt, the Lower Peninsula of Michigan, and the Upper Midwest. High rates of evaporation from soils and vegetation over the past 1 to 2 months have resulted in large losses to soil moisture, with stream flows also dropping significantly across many of these same areas (falling below the 10th percentile of the historical distribution, particularly across the southern Great Lakes and the Corn Belt). There are many reports of browning and stressed vegetation, with several producers already resorting to supplemental feeding for their livestock due to reduced forage. Loss of yield remains a large concern for many. MORE

Source: droughtmonitor.unl.edu

Minnesota Legalizes Recreational Marijuana, but Federal Laws Against Cannabis Still Apply

Recreational use of marijuana may be legal in Minnesota soon, but those who use the drug will continue to face a hard time getting some types of jobs, buying a gun or living in federally subsidized housing. Why? Because marijuana use, even when prescribed by a doctor for medicinal use, is still considered unlawful under federal law. MORE

Source: minnpost.com

Minnesota - Search for Site Underway for $200M Biomanufacturing Campus

Now that the state approved funds to help build a $200 million biomanufacturing campus, attention now is on where the complex will land. "We're looking at and evaluating a number of sites," said Douglas Friedman, CEO of Minneapolis-based Bioindustrial Manufacturing and Design Ecosystem (BioMADE), the nonprofit developing the facility. BioMADE is seeking 300 to 1,000 acres of land, ideally within 90 minutes of the Twin Cities, Friedman said. Access to utilities, water, rail and feedstocks will be important. The goal is to identify a site by the end of the year. Biomanufacturing uses feedstocks such as corn, soy and sugar beets to make a wide variety of goods including chemicals, nylon, protein, silk, concrete and polyurethane. The U.S. has not previously had the infrastructure for biomanufacturing to compete with international producers. MORE

Source: news.yahoo.com

Wisconsin Has Seen Record-low Unemployment for Over a Year. What Does that Mean for Workers?

For more than a year, Wisconsin’s unemployment rate has stayed near record lows. Since last January, the state’s unemployment rate hasn’t gone above 3.1 percent. In April, the state’s unemployment rate hit a new record low at 2.4 percent, and U.S. Bureau of Labor Statistics data shows that six Wisconsin metro areas had rates lower than 2 percent that month. The state also hit a new record-high for jobs in April, with 9,600 more jobs than its pre-pandemic peak in January 2020.That would have been unheard of decades ago. The state’s unemployment rate in the 1980s never went below 4.1 percent, according to the Federal Reserve Bank of St. Louis. MORE

Source: wpr.org



Wisconsin - Revenue, Education and Childcare Measures will Make for a Climactic State Budget Week

This week is shaping up to be the most consequential period in constructing the state’s two-year budget as the Legislature’s budget committee commits to funding plans for schools, highways, childcare and public health. In addition to the budget, Tuesday the Joint Finance Committee (JFC) will vote on two other bills to move ahead the deal that Gov. Tony Evers, Republican leaders in the Senate and the Assembly, Milwaukee’s mayor and the Milwaukee County executive reached last week over funding for local government and education. Both bills are outside the budget legislation, but they also affect how much the state spends. Broadly, the local government funding bill provides for a 20% increase in state aid to local governments statewide. MORE

Republican Lawmakers Propose Plan to Combat PFAS Pollution in Wisconsin

Republican legislators have proposed a sweeping new plan to address PFAS pollution that would create grants for local governments, limit regulators’ ability to delay projects on polluted property and mandate studies on how to treat contaminated water. The bill would provide a mechanism for spending $125 million set aside by the Legislature’s budget-writing committee last month to deal with the chemicals. MORE

Source: WisPolitics

Senate Bill on PFAS Draws Both Support, Critique from Environmental, Industry Groups

Environmental, utility and industry groups showed both support and criticism for legislation addressing PFAS during a public hearing Monday [June 12]. The Republican-authored Senate Bill 312 would provide a variety of grants to help municipalities test for PFAS and pay for related infrastructure upgrades. But the bill would also limit the authority of the Wisconsin Department of Natural Resources to test for PFAS and require remediation. Funding for the new grants would likely come from the $125 million approved by the Legislature's budget committee last month. MORE

Source: WisPolitics

Texas Governor Signs Alternative Protein Labeling Bill into Law

Texas Gov. Greg Abbott signed into law Senate Bill 664, which aims to clarify the source protein in alternative, analogue and cell-cultured “meat” products in the state through specific labeling requirements. The law classifies alternative protein sources as analogue or cell-cultured and requires processors to then label those products prominently and uniformly in an effort to separate them from beef, chicken and egg products derived directly from the traditional animal supply chain sources. The law will take effect Sept. 1, 2023. MORE

Source: FoodProcessing.com

Debt Deal Sets Stage for Stricter SNAP Rules

By expanding work requirements for food stamp recipients, the debt ceiling agreement secured a landmark shift in a longstanding congressional clash over SNAP. [This] could trigger a series of unprecedented changes to America's federal food assistance system as legislators gear up to reauthorize the farm bill. At a House Agriculture Committee hearing Wednesday on the upcoming farm bill, several witnesses testified in favor of further bolstering restrictions on SNAP, with some advocating for regulating the type of foods allowed. MORE

Source: Michael Best Strategies



New Studies Confirm That Frozen Food Reduces Food Waste

Nearly 40% of all food in the United States goes uneaten, reaching a value of $444 billion. Per person, this equates to almost 550 pounds of extra food a year. Food waste doesn’t just have a financial cost, it also means additional landfill use and greenhouse gas (GHG) emissions that impact the environment. Despite this waste, 33.8 million Americans still live in food-insecure households. Freezing is a food waste solution. It allows for a longer shelf life for produce and pre-portioned meals help reduce leftovers that go to waste. Consumers report that they turn to frozen food to help reduce their waste and save money, and having frozen meal ingredients on hand helps to have more food in the house without risk of spoilage. MORE

Source: frozenadvantage.org

Baby Boomers, Gen Z Have Different Grocery Habits During Time of Inflation

There is a contrast between how the Baby Boomer generation and Gen Z spends on non-essential items, according to news and analysis company PYMNTS. The latest report draws from an April survey of more than 2,000 U.S. consumers, revealing that older consumers are still looking for ways to find deals when shopping for groceries in the face of inflation, whereas most younger shoppers continue to splurge on the extra items they want. MORE

Source: AFFI



Exec: Upcycled Food Movement Set to Gain Major Momentum

As consumers exhibit growing interest in waste and sustainability, companies are looking at taking what would once have been discarded and creating a new product – and the food industry is part of this approach, developing upcycled food products. The concept is defined as the use of ingredients that otherwise would not have gone to human consumption and have a verifiable supply chain. Upcycledfood.org says nearly 469,000 tons of such foods are diverted annually by 52 companies that produce 222 foods from 82 ingredients. MORE

Source: foodinstitute.com

View 2023 MWFPA Sponsorship Opportunities - HERE!

2023 Raw Products Committee Haltvick Meetings

• Waseca Pea Trial - July 6
• Hancock Snap Bean and Sweet Corn Trial - August 10
• West Madison ARS - September 7

SAVE THE DATE! October 10 - Sporting Clays Classic

Registration available July 10th!

Woods & Meadow Hunting Preserve

Warrens, Wisconsin

https://www.woodsandmeadow.com

November 28 - 30 - 2023 Convention & Processing Crops Conference

Kalahari Resort & Convention Center, Wisconsin Dells

Registration Opens July 1 - MWFPA Convention Website

2024 MWFPA Annual Summit & Scramble - June 5 - 6th

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