With Congress adjourned for the Independence Day recess, it's worthwhile to provide an update on the political landscape against which the farm bill will be considered (see WPI 25 June). Since the Senate approved its version of the 2012 Farm Bill in a bipartisan vote, the House and Senate passed the conference version of the transportation bill by 373-52 and 74-19, respectively. The bill provides funding for transportation through 2014, extends the National Flood Insurance Program for five years and, in another "must do" piece of congressional action prevents student loans from doubling to 6.8 percent interest rate as of today.There are two key provisions for agriculture:
Regarding trucks crossing state lines, there is an exemption for a...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: The tariff burden rose sharply in 2025 and 2026: the effective rate on imports in HTS Chapters 1–24 increased from 1.53 percent in 2024 to 6.11 percent in 2025, before averaging 5.68 percent in January–August 2026. Headline rates tell only part of the story: exemptio...
