USDA Announces Agricultural Outlook Forum Theme and Program

The Department of Agriculture Tuesday announced the theme and program of the 98th Agricultural Outlook Forum, a virtual event held February 24-25, 2022. The 2022 Forum theme is "New Paths to Sustainability and Productivity Growth," and the program will focus on innovations to minimize the environmental footprint of agriculture and ensure sustainability while improving crop yields. Agriculture Secretary Tom Vilsack says, “I look forward to discussing with sector leaders how we can work on climate smart solutions that will improve the profitability and resilience of agricultural producers and open new market opportunities.” The Forum will begin with a presentation by USDA Chief Economist Seth Meyer on the Department’s outlook for commodity markets and trade for 2022 and the U.S. farm income situation. Breakout sessions include topics on climate mitigation, innovation, trade, commodity outlooks, supply chain resilience and equity and inclusion. Visit the Agricultural Outlook Forum website to register and learn more.

FTC Launches Inquiry into Supply Chain Disruptions

The Federal Trade Commission is ordering nine large retailers, wholesalers, and consumer good suppliers to provide detailed information on supply chain disruptions. The information will also show how disruptions are causing hardships for consumers and harming competition in the U.S. economy. The orders are being sent to Walmart, Amazon, Kroger, C&S Wholesale Grocers, Associated Wholesale Grocers, McLane Company, Procter & Gamble, Tyson Foods, and Kraft Heinz. The companies will have 45 days from the date they received the order to respond. FTC Chair Lina Khan (lee-nuh con) is hopeful the study “will shed light on market conditions and business practices that may have worsened disruptions or led to asymmetric effects.” The orders require the companies to detail the primary factors disrupting their ability to obtain, transport and distribute their products; the impact of the disruptions, the most affected products, the steps taken to alleviate disruptions, and how they allocate products among their stores when they are in short supply.

Low October Wholesale Egg Prices Reported in Advance of 2021 Holiday Season

Demand for table eggs tends to increase when holiday gatherings and cold weather encourage home baking and cooking. In accordance, wholesale table egg prices, the prices retailers pay to producers for eggs, tend to increase ahead of holidays. Leading up to the 2021 holiday season, however, wholesale prices of table eggs in the United States declined as effects of COVID-19-linked flock adjustments linger. In normal years, producers anticipate seasonal demand by adjusting the size of the table-egg laying flocks and the rate they produce eggs. In 2020, COVID-related disruptions in the demand for eggs led producers to reduce flock sizes. Flock sizes have slowly rebuilt since but remain smaller than the same time in 2019. However, the younger flocks produce more eggs per hen. USDA’s Economic Research Service reported Tuesday that at the beginning of October 2021, the size of the U.S. laying flock was just above the October 2020 levels, and the rate of lay was 1.1 percent higher.

Waiver From Trucking Federal Rule Expanded

The National Pork Producers Council this week thanked the Biden administration for extending to February 28, 2022, a waiver for commercial truckers from the federal Hours of Service regulation. The rule limits truckers to 11 hours of driving time and 14 consecutive hours of on-duty time in any 24-hour period and requires prescribed rest periods. At the start of the COVID-19 pandemic in March 2020, the FMCSA included livestock haulers in an initial emergency declaration that provided an exemption from the HOS regulation for commercial truckers hauling essential supplies, including livestock. The waiver subsequently was expanded to cover the delivery of livestock feed. NPPC President Jen Sorenson says, “Extending the HOS waiver ensures that livestock truckers can get hogs to market safely and efficiently.” In August, the FMCSA extended the waiver to November 30.  Further, a provision in the infrastructure bill recently signed into law expanded the miles agricultural truckers can drive without the HOS restrictions.

NCGA: Remember to Submit Ballot for FSA Committee Positions

The National Corn Growers Association reminds producers to submit ballots for the Farm Service Agency county committee elections. Voters should return their ballots to their FSA county office by Monday, December 6, or postmark mail-in ballots by the deadline. Committee members represent local farmers at the Department of Agriculture and play an important role in shaping FSA programs. Each committee has from three to 11 elected members who serve three-year terms of office, and at least one seat, which represents local administrative areas, is up for election each year. Newly elected committee members will take office on January 1, 2022. Ballots were mailed to producers on November 1. USDA says it is crucial that every eligible producer take part in the election because county committees are a direct link between the farm community and USDA. Eligible voters who do not receive a ballot in the mail can request one from their local Farm Service Agency county office.

Active 2021 Atlantic Hurricane Season Ends

The active 2021 Atlantic hurricane season ended Tuesday after producing 21 named storms, including seven hurricanes, four being major hurricanes. The above-average hurricane season was accurately predicted by NOAA's Climate Prediction Center, a division of the National Weather Service, in their May and August outlooks. This year was the third most active year on record in terms of named storms, and marks the sixth consecutive above-normal Atlantic hurricane season. This was the first time on record that two consecutive hurricane seasons exhausted the list of 21 storm names. Since the launch of the storm surge warning and new inundation mapping in 2017, there have been 16 U.S. hurricane landfalls, of which seven were major hurricanes. The 2022 hurricane season will officially begin on June 1. NOAA’s Climate Prediction Center will issue its initial seasonal outlook in May. However, NOAA cautions that now is the best time to prep for hurricane season.

Wednesday Watch List

Markets

We will be watching early reports from the government, including the ADP Employment report, Markit Manufacturing PMI, and Construction Spending. We will also be watching for any news on the new COVID variant, and at 8 a.m. will look for any new corn or soy sales.

Weather

A system moving across the northern tier of the country is bringing scattered showers to mostly the eastern Midwest on Wednesday. Breezy and warm temperatures are following behind the precipitation. The combination of above normal temperatures and dryness continues to be unfavorable for winter wheat development in the Southern Plains