Did you miss some agricultural news this week? We have you covered. Here’s a recap of the top headlines in agriculture from around the country.
UAW strike against CNHi continues
Talks between United Auto Workers and Case New Holland Industrial were halted Thursday, May 19 after a proposal from the company that included increased wages that would be largely offset by more costly health insurance. Case's proposal included a raise averaging 6% over three years, but the insurance package outlined would require higher employee contributions, along with higher deductibles. – The Hawk Eye
FTC asked to investigate beef price fixing
A resolution introduced by Sen. Mike Rounds, R-S.D., and Sen. Elizabeth Warren, D-Mass., invokes a 1914 act authorizing the president or Congress to direct the Federal Trade Commission to investigate alleged antitrust violations. The resolution directs the FTC to report within one year on anticompetitive practices and violations of antitrust law in the beef packing industry. – Farm Progress
Black swan in the Black Sea
Commodity markets have largely recovered from the initial shock of Russia’s invasion of Ukraine, but price volatility will continue to batter commodity markets, creating once-in-a-lifetime pricing opportunities for grain farmers. Farm Futures released a four-part series about the impacts of the Ukrainian war on U.S. grain markets and potential implications to watch as the growing season unfolds, providing a detailed analysis of corn, wheat, fertilizer and edible oil markets. – Farm Futures
Russia blames sanctions for food crisis
Moscow pressed the West to lift sanctions against Russia, seeking to shift the blame for a growing food crisis worsened by Kyiv’s inability to ship millions of tons of grain and agricultural products. Western officials dismissed those claims noting that food, fertilizer and seeds are exempt from sanctions. – Associated Press
New equipment: lease or buy?
Often farmers ponder lease vs. buy when it comes to equipment, but perhaps that’s not the first step. Considering your financial team and how you work together can help take the complexity out of purchase questions. Also, here’s what the Farm Progress PANEL had to say about how they will purchase their next equipment. – Farm Progress
USDA assistance amid baby formula shortage
A shortage of infant formula has limited access to the product nationwide. The U.S. Department of Agriculture announced it will temporarily cover the cost of baby formula for low-income families dependent on government discounts in states contracted with formula makers Nestle and Reckitt. – Reuters
Arby’s offers Wagyu Steakhouse Burger
Typically, there's nothing groundbreaking about a fast-food chain selling a hamburger. But Arby's has never sold one — until now. For a limited time, Arby’s is adding the Wagyu Steakhouse Burger to its menu for $5.99. The company says the new burger, made of a blend of Wagyu beef and ground beef, will be the “highest-quality burger the market has seen yet.” – CNN Business