La. Farm Bureau/Radio Network
Friday, August 28,2013
Farm Bill Compromise
Rich Pottorff, Doane chief economist and Washington analyst, reports on how House Ranking Member Collin Peterson (D-MN) thinks a compromise farm bill might look like. Peterson says there will be target prices and they'll be based on planted acres, not base acres. He also thinks a conference committee might agree to cuts of $6 to $8 billion in funding for the food stamp program over 10 years...very different from the $40 billion in cuts the house plans to vote on early next month. And unless congress acts, tax incentives for capital investments will end on December 31st.
Timber Theft Arrest..Again
A Greenwood man has been arrested for timber theft a second time by Louisiana Department of Agriculture and Forestry enforcement agents. This arrest comes on the heels of a prior arrest earlier this month on three counts of timber theft. 61-yeaer old David Lubas was booked into the Desoto Parish jail, charged with one count of felony timber theft valued at a little more than $55,000. This latest arrest was the result of a complaint received after Lubas was arrested on an unrelated timber theft scheme. Lubas allegedly sold timber cut for a Desoto Parish landowner for a higher price than he told the landowner and kept the difference.
Fertilizer Costs Down
Fertilizer costs--even though they remain at historically high levels--have generally trended down from the last quarter in 2012. Prices for nitrogen fertilizers have experienced a sharp downturn over the past month or so. Much of that decline has been attributed to increased production the last 12 to 18 months as strong profits and low natural gas prices encouraged significant expansion. And while strong demand helped keep prices supported over the last couple of years, there are a lot of folks who think supply levels are finally reaching a point that will continue to force prices even lower.