Farm News, June 9, 2016

Groups Continue Push for GMO Labeling Compromise

The Coalition for a Safe Affordable Food Supply and the National Association of State Departments of Agriculture this week called on lawmakers to make a deal to block the Vermont labeling law. The groups made the push as Senate Agriculture Committee Chairman, Republican Pat Roberts of Kansas, and ranking member Debbie Stabenow of Michigan, are meeting to discuss a compromise on the labeling of genetically modified foods, according to the Hagstrom Report. Roberts said at a Bloomberg Government event that the agreement is down to three sticking points, but did not elaborate. In a joint news release, the groups expressed confidence “that a Roberts-Stabenow compromise will get 60 votes in the Senate and will be passed by the House” before the Vermont law goes into effect on July first. However, the groups add, for this to happen, “a Roberts-Stabenow compromise must be reached this week.”

Farmer Sentiment Lower in May Compared with April

Farmers are growing more pessimistic regarding the overall agriculture economy, according to the latest Agriculture Economy Barometer by Purdue University and CME Group. After a surge in producer sentiment in April, spurred in part by a favorable swing in commodity prices, producer sentiment settled lower in May at a value of 97. The dip in May brings the index back in line with readings provided by producers in January and February of this year, reading 98 and 96. The base period score is 100. So if the index falls below 100, the measure would indicate sentiment has declined. A score greater than 100 means sentiment regarding the health of the agriculture economy has increased. Some of the decline in producers’ sentiment during May was attributable to changing perceptions about the livestock sector. Further, just 10 percent of the 400 farmers surveyed said they expect profitability to improve in the next year. However, the outlook on farmland prices was more favorable as 52 percent respondents rated farmland favorably and nearly one-quarter of survey respondents provided a neutral rating for farmland as an investment.

Source;  NAFB News