Dayhoff Westminster Soundtrack: Latest News from the Farm Credit Council

Wednesday, August 31, 2011

Latest News from the Farm Credit Council

Retrieved August 30, 2011

http://www.fccouncil.com/

Latest News from The Farm Credit Council

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Fact Sheet: Find out the latest update about Farm Credit's Financial Strength -- The Farm Credit System's financial strength means that U.S. farmers, ranchers, agricultural cooperatives, farm businesses and rural communities continue to have access to a competitive source of credit to meet their needs (updated with first quarter 2011 figures)

Doug Stark, President & CEO of Farm Credit Services of America, testified before the House Agriculture Committee's Subcommittee on Operations, Oversight and Credit on April 14 at a hearing to review credit conditions in rural America -- more

Ann Trakimas, Chief Operating Officer of CoBank, testified before the House Agriculture Committee on March 31 at a hearing regarding product classifications under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act -- more

The Farm Credit Council Board of Directors recently elected a new Chairman and Vice Chairman --more

More fact sheets and news releases available in the Media Center.

Phelps-Martin Award for Community Service

FCS Institutions: Download the nomination form for the 2011 Phelps-Martin Awards for Community Service.

The 2011 Awards will be presented at The Farm Credit Council's Annual Meeting, January 23-25, 2012 in Washington, DC.

Agriculture News

Total agricultural production expenses are forecast to rise sharply in 2011, due to changes in both price paid for inputs and the quantity of inputs used. Prices for all crop-related inputs are expected to rise in 2011, while acres planted to principal crops are forecast to rise to 326 million acres, a 3-percent increase over 2010. Expenses for several crop-related expenses are expected to show some of the sharpest changes this year. After steady increases between 2002 and 2008, fertilizer expenses dropped roughly 10 percent in both 2009 and 2010. In 2011, fertilizer expenses are forecast to resume their climb, going up 14 percent. After stalling in 2010, the upward movement in seed and pesticide expenses is also forecast to resume. Seed expenses are expected to rise over 5 percent in 2011 after dropping by 2 percent in 2010. Pesticide expenses are forecast to rise around 7 percent after falling about 5 percent in 2009-10. This chart is found in the ERS briefing room on Farm Income and Costs, and reflects the February 14, 2011 forecast. (From USDA's Economic Research Service, Charts of Note)

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