5 years, 10 months ago AFBF
The Senate Agriculture Committee Thursday announced it will consider the Senate version of the farm bill next week. Markup of the bill is planned for Wednesday, at 9:30 a.m. Eastern time. The bipartisan bill, according to committee leaders, will “provide much-needed certainty” for farmers and ranchers. The bill could be passed by the Senate by the end of this month. Senate leader Mitch McConnell has previously said that he would like to pass the farm bill before the Senate goes on the Independence Day recess. The timeline of the farm bill is less certain in the House of Representatives, however. House Agriculture Committee Chair Mike Conaway had targeted a late June date for reconsideration of the bill after the chamber voted it down last month. Republican lawmakers who demanded a vote on immigration pulled the bill to failure. But, Republicans begun discussing immigration issues this week, providing renewed farm bill optimism.
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U.S. Offers List of Ag Concessions Wanted From China
The U.S. apparently wants more from China than a promise to buy more U.S. agricultural goods. Politico reports that U.S. officials have handed China a list of agricultural trade barriers that “must be lifted” to boost imports from the U.S. to China in an effort to reduce the trade deficit. However, China has stated that it will not remove trade barriers as long as Trump imposes new U.S. tariffs, which could soon take effect. China said earlier this week that the outcome of the talks should be based on “meeting each other halfway.” China, meanwhile, has responded with targeting U.S. ag products with retaliatory tariffs, if warranted. Further, the National Pork Producers Council said the trade war is already harming agriculture, as Iowa State University Economist Dermot Hayes says U.S. pork farmers have lost $2.2 billion on an annualized basis, from lower hog prices.
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USDA Announces Producer Approval of California Federal Milk Marketing Order
California dairy producers have approved a Federal Milk Marketing Order for the state. The U.S. Department of Agriculture announced the approval Thursday. The new California marketing order will be implemented October 17th, 2018, with publication of the Announcement of Advanced Prices and Pricing Factors, and affected parties must comply with all provisions beginning November 1st, 2018. USDA says it will work over the next few months to educate handlers who will become regulated by the new marketing order. California represents more than 18 percent of all U.S. milk production and is currently regulated by a state milk marketing order administered by the California Department of Agriculture. Once the new federal order is established, more than 80 percent of the U.S. milk supply will fall under the Federal Milk Marketing Order regulatory framework.
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Bayer Closes Deal, Retires Monsanto Name
Bayer successfully completed the acquisition of Monsanto on Thursday, retiring the Monsanto name. Acquired products by Bayer will retain brand names and become part of Bayer's portfolio. However, company officials say making the change will take some time. Shares in the U.S. company will no longer be traded on the New York Stock Exchange, with Bayer now the sole owner of Monsanto. Monsanto shareholders are being paid $128 per share. According to the conditional approval from the United States Department of Justice, the integration of Monsanto into Bayer can take place as soon as the divestments to BASF have been completed. The integration process is expected to begin in approximately two months. Monsanto CEO Hugh Grant said in a statement “the closing represents an important milestone toward the vision of creating a leading agricultural company.” The acquisition is the largest in Bayer’s history and doubles the size of its agriculture business. The deal took two years to complete, and is valued at $63 billion.
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Accurate Labels Act Introduced
Lawmakers introduced the Accurate Labels Act in the Senate Thursday, a bill that supporters say would provide American consumers nationwide with clear, accurate and meaningful nutrition information. Introduced by Republican Senator Jerry Moran (More-ran) of Kansas, and in the House of Representatives by Republican Adam Kinzinger of Illinois and Democrat Kurt Shrader of Oregon, the bill would also prevent the issuance of inaccurate labels that mislead consumers and drive up prices. Supporters say the bill would establish science-based criteria for all additional state and local labeling requirements, allow state-mandated product information to be provided through smartphone-enabled “smart labels,” and ensuring that covered product information is risk-based. The American Farm Bureau Federation, along with the National Council of Farmer Cooperatives, were immediately supportive of the legislation.
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FCC Chairman Proposes Rural Healthcare Funding Increase
Federal Communications Commission Chairman Ajit (Ah-jiht’) Pai (Pie) announced this week that he has circulated a draft order to his colleagues that would significantly increase funding for the Universal Service Fund’s Rural Health Care Program. The program’s current annual funding cap is $400 million. The Chairman’s order would increase the annual cap to $571 million. The cap was set in 1997 and was never indexed for inflation. Recently, demand for funding under the program has outpaced the budget, creating uncertainty for patients, health care providers and communications companies alike. The order would apply the increased cap to the current funding year to “immediately address a critical funding crisis” and enable rural health care providers to continue offering telemedicine services. The order would also give providers long-term certainty about universal service funding by adjusting the cap annually for inflation and allowing unused funds from prior years to be carried forward to future years.
