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CLICK HERE for the latest market quotes from the Brownfield Ag News Network!
BEIJING (AP) — China raised import duties on a $3 billion list of U.S. pork, apples and other products today (Monday), in an escalating dispute with Washington over trade and industrial policy.
The government of President Xi Jinping said it was responding to a U.S. tariff hike on steel and aluminum. But that is just one facet of sprawling tensions with Washington, Europe and Japan over a state-led economic model they complain hampers market access, protects Chinese companies and subsidizes exports in violation of Beijing’s free-trade commitments.
Already, companies are looking ahead to a bigger fight over U.S. President Donald Trump’s approval of higher duties on up to $50 billion of Chinese goods in response to complaints that Beijing steals or pressures foreign companies to hand over technology. Forecasters say the impact of Monday’s move should be limited, but investors worry the global recovery might be set back if other governments respond by raising import barriers.
The tariffs “signal a most unwelcome development, which is that countries are becoming protectionist,” said economist Taimur Baig of DBS Group. But in commercial terms, they are “not very substantial” compared with China’s $150 billion in annual imports of U.S. goods, he said. Monday’s tariff increase will hit American farm states, many of which voted for Trump in 2016. Beijing is imposing a 25 percent tariff on U.S. pork and aluminum scrap and 15 percent on sparkling wine, steel pipe used by oil and gas companies, and an array of fruits and nuts including apples, walnuts and grapes. American farm exports to China in 2017 totaled nearly $20 billion, including $1.1 billion of pork products.
There was no indication whether Beijing might exempt Chinese-owned American suppliers such as Smithfield Foods, the biggest U.S. pork producer, which is ramping up exports to China. White House spokeswoman Sarah Huckabee Sanders said Monday on the television show “Fox and Friends” that Trump was “going to fight back and he’s going to push back.” Deputy Press Secretary Lindsay Walters said China’s “subsidization and continued overcapacity” were the root cause of low steel prices that have hurt U.S. producers. The dispute reflects the clash between Trump’s promise to narrow the U.S. trade surplus with China — a record $375.2 billion last year — and Beijing’s ambitious plans to develop Chinese industry and technology.
Ten Iowa youth organizations will receive funding from Iowa’s Center for Agricultural Safety and Health (I-CASH) for a farm safety project. Since 1999, I-CASH has designated funds for Iowa youth groups to promote farm safety awareness in their local communities. The grants are awarded to the proposals that show the highest involvement by youth in the planning and carrying out of the project. Among this year’s grant recipients locally, is the Shelby County 4-H Youth Council, and the Ida County Farm Bureau. Since 1999, I-CASH has awarded 155 grants, investing more than $140,000 in youth safety projects.
According to I-CASH director Brandi Janssen, this year was especially competitive. She said “We were pleased to have nineteen applicants, it’s exciting to have such interest in the grants. I just wish we could fund more projects.” Ten groups received $500 to carry out their project. Several of the projects are Farm Safety Days that will teach elementary students about electrical hazards, livestock safety, chemical safety, ATVs, and other topics related to rural safety and health. In Shelby County, members of the 4-H County Youth Council will do a presentation at Farm Safety Day in June on the prevention and treatment of animal bites and insect stings. All youth participants will receive a 1st aid kit. A video of the presentation will be made available on the Shelby County Extension and Outreach website. Youth groups ranging from 4-H to FFA to County Farm Bureau groups were represented.
At the end of the season, grant applicants will submit a final evaluation that will again be judged by the grant selection committee. One group will be awarded the “Outstanding Youth Grant Award,” which carries another $500 in funding and a trip to the Midwest Rural and Agricultural Safety and Health Conference (MRASH), which will be held in Council Bluffs, IA this November.
For more information about the Youth Grant program, go to www.i-cash.org.
Cass County: Corn $3.33, Beans $9.60
Adair County: Corn $3.30, Beans $9.63
Adams County: Corn $3.30, Beans $9.59
Audubon County: Corn $3.32, Beans $9.62
East Pottawattamie County: Corn $3.36, Beans $9.60
Guthrie County: Corn $3.35, Beans $9.64
Montgomery County: Corn $3.35, Beans $9.62
Shelby County: Corn $3.36, Beans $9.60
Oats $2.33 (always the same in all counties)
(Information from the USDA’s Farm Service Agency offices)
Whatever their religious beliefs, many thousands of Iowans enjoy coloring, decorating, hiding and eating eggs on the Easter holiday — but egg prices have cracked the two-dollar mark in recent weeks and it’s no yolk. Shayle Shagam is a livestock analyst for the U-S-D-A and says wholesale prices on eggs are up significantly. “They’re running about $2.27 a dozen compared to about 94-cents a dozen last year,” Shagam says. “Easter is coming a couple of weeks earlier this year so you’ve pushed that normal demand period forward somewhat.” Iowa is the nation’s top egg producer, with roughly 60-million laying hens producing nearly 15-billion eggs per year. Annemarie Kuhns, an economist with the U-S-D-A, says grocery store prices are reflecting the big rise in wholesale prices.
“The average price per dozen is now $1.76,” Kuhns says. Shagam says egg production has increased, but demand is coming sooner than usual, which is forcing producers to change up their schedules. “You would tend to bring on young chickens and you would tend to keep some of your older chickens,” Shagam says. “Both of those are are probably not going to be at their optimal rate of lay and to some extent, that could be providing a little bit of a constraint on the production of eggs.” Shagam says if you shop around, you’ll likely find egg specials. Also, he notes prices will likely fall after tomorrow (Sunday), once demand drops.
(Radio Iowa)
DES MOINES, Iowa (AP) — Corn has been dethroned as the king of crops as farmers report they intend to plant more soybeans than corn for the first time in 35 years. The U.S. Department of Agriculture says in its annual prospective planting report released Thursday that farmers intend to plant 89 million acres in soybeans and 88 million acres in corn.
The primary reason is profitability. Corn costs much more to plant because of required demands for pest and disease control and fertilizer. When the profitability of both crops is close, farmers bet on soybeans for a better return.
The only year that soybean acres beat corn in recent memory was 1983, when the government pushed farmers to plant fewer acres to boost prices in the midst of the nation’s worst farm crisis.
DES MOINES – The Iowa Department of Natural Resources will hold the 2018 spring auction on April 14, at Pioneer Livestock Pavilion on the Iowa State Fairgrounds, in Des Moines. Doors will open at 7 a.m., and the auction will begin at 8:30 a.m. The public may view the items for sale and pre-register for the auction from 4 to 6 p.m., on April 13. There will not be any buyer’s premium fee added to the sale. Items up for auction include more than 500 firearms, bows, gun barrels, scopes, tree stands and other assorted equipment. The items are sold “as is” with no guarantee or warranty.
Any person interested in purchasing a firearm at the auction must have either a valid Iowa permit to acquire pistols or revolvers, a federal firearms license, or a professional or non-professional permit to carry concealed weapons. The Iowa permit to acquire can be obtained from a sheriff’s office. Allow two to three weeks to receive the permit. Payment must be made on auction day. All sales are final. All items must be removed from the site within one half hour after the sale completion.
The Iowa DNR reserves the right to reject any bids and withdraw any item from the sale at any time. A sale bill is available online at http://www.iowadnr.gov/Hunting and will be updated if inventory is added. The DNR will not be mailing any sale bills.
The Shelby County Emergency Management Agency has reduced the County Fire Danger level from “medium,” to “LOW.” An abundance of moisture over the next couple of days should reduced the threat of any controlled burns becoming out of control. The next field & grassland conditions Fire Index will be released on Thursday.
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