Agriculture Shorts

Interest rate trades suggest the Federal Reserve will cut rates two or three times this year . . . An analysis released by the Agricultural Coalition for the United State-Mexico-Canada Agreement (USMCA) showed agricultural and seafood exports to Canada and Mexico generated $2.45 of economic activity for every $1 of exports . . . Cargill will permanently close a beef processing facility in Milwaukee. The closing follows closings of facilities in Nebraska and California and reduced operations in Texas by other processors. Drovers’ last week reported packer margins for the prior week were -$273 per head . . . The Congressional Budget Office (CBO) estimates 95% of the cost of President Trump’s tariffs will be borne by U.S. businesses and consumers. It estimates U.S. businesses will absorb 30% of the cost by reducing profits. The remaining 70% of costs will be passed through to consumers by raising prices . . . CropX, a precision irrigation management startup, has acquired seven companies in five years to broaden its platform and services to include fertilizer management, crop protections, crop reporting, and scouting.