Agriculture Shorts

According to cattle/beef industry consultant Nevil Speer, dollar sales of retail beef were up 9.9% versus year-ago levels. Sales volume was up 2.2% . . . The Daily Livestock Report reported that retail beef prices in June reached $9.65 per pound, an increase of $1.01 per pound or 12% from the previous year. June saw a record high retail price for ground beef at $7.14 per pound, and the second-highest price for steak at $12.88 per pound . . . American Farm Bureau Federation economist Daniel Munch wrote that since 1982, cropland, pastureland, and rangeland in the U.S. have declined, while developed land has increased by nearly 48 million acres, roughly the size of Nebraska . . . Petroleum analysts forecast gas prices would soon exceed $4.00/gallon again. Prices have risen 14 cents in the past two weeks due to growing tensions between the U.S. and Iran . . . Reuters reported a container ship adapted to run on ethanol set sail last week from the Brazilian port of Santos. The ship can run on methanol, ethanol, or conventional fossil fuel . . . The Wall Street Journal reported the creator of Hidden Valley ranch dressing, Steve Henson, grew up in a small town in Nebraska. His creation now dominates salad dressing markets . . . Deere & Company reported net income of $1.773 billion for the second quarter ended May 3, 2026, down slightly from $1.804 billion for the quarter ended April 27, 2025. Worldwide net sales increased 5%, fueled by sales of small agriculture and turf equipment. Production and precision agriculture equipment sales declined.