Ag Headlines, September 3, 2015

Commodity Prices Likely to Remain at Current Levels

A report by the University of Missouri predicts slow price recovery for agricultural products. The University’s Food and Policy Research Institute’s price forecast includes grains, oilseeds, cotton, milk and hogs, which have all declined sharply from record levels in recent years. That led to a decrease on the school’s long-term baseline projections for agriculture. The report predicts corn prices will remain near the 2014-15 level of $3.70 per bushel for another two years. Corn prices are not expected to top $4 per bushel until 2018 or 2019 as corn acreage is expected to increase to more than 90 million acres in 2016. Large global oilseed supplies contributed to a reduction in projected soybean prices in the report, which falls to $9.12 per bushel in 2015-16 and remain near that level during the 2016-17 period. Meanwhile, increased production and a stronger dollar have contributed to sharply lower U.S. hog and milk prices in 2015. Projected prices for both remain far below the record levels of 2014. Finally, as U.S. cattle numbers and beef production expand, cattle prices have decline from record levels. Projected fed cattle prices dropped from $157 per hundredweight in 2015 to $122 by 2020. View the report that was released this week f-a-p-r-i dot Missouri dot edu (www.fapri.missouri.edu).

USFRA Survey Reveals Consumer Attitudes on Sustainability and Agriculture

At the 2015 Farm Progress Show this week, the U.S. Farmers and Ranchers Alliance released consumer survey data focused on agriculture. USFRA’s survey found that 56 percent of men agree that U.S. farmers grow and raise food in a sustainable way while just 37 percent of women agree. The survey also found consumers are interested in the human impact of sustainability. The survey found consumers want to learn more about sustainability around water, soil, air and habitat, and they are interested in how agriculture focuses on the future. The Tarrance Group conducted the national survey of consumer attitudes regarding sustainability for USFRA. USFRA intends to use the findings to better answer questions consumers have about sustainability and agriculture.

FAA Announces New Executives to Oversee Drone Use

The Federal Aviation Administration announced two executives who will guide the agency’s approach to integrating unmanned aircraft systems into the U.S. airspace. On Wednesday, FAA announced the appointments of Marke “Hoot” Gibson as the senior advisor on UAS Integration and Earl Lawrence as director of the UAS Integration Office. Both executives will assume their positions later this month. The National Farmers Union praised the move, stating UAVs have significant potential to benefit America’s family farmers and ranchers. NFU president Roger Johnson said to achieve meaningful utilization, “it is critical that our nation has a standardized and uniform framework for use, safeguards to personal privacy and adequate safety standards.”

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