Food Prices are Record High - Don't Blame Farmers

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0:00 Don't Blame Farmers
3:45 45Z News?
6:20 Francine/River Update
8:25 Brazil Cattle Herd
9:52 Crude Declines
🌱 Consumers & Sustainable Food: Who’s Paying the Price?
Sustainability is a hot topic, but guess what? 🌍 Despite the pressure on food producers to go green, consumers aren’t ready to pay a premium for eco-friendly options. According to the CEO of JBS, the solution lies in boosting productivity to make food more affordable, not more expensive.
The food industry needs $350 billion annually until 2030 to go sustainable.
Farmers deserve compensation for adopting higher environmental standards 🌿, but how can we make that happen without raising food prices?
💸 45Z Tax Credit: A Boost for US Agriculture?
Big changes are coming! 🚜 Agriculture Secretary Tom Vilsack is confident that the new 45Z tax credit will be finalized by January, offering better incentives for sustainable farming. Here’s what you need to know:
The new credit is expected to include more crops and eco-friendly practices than the current 40B credit.
🌪️ Hurricane Francine: Impacting Louisiana & Beyond
Hold on to your hats! 🎩 Hurricane Francine is about to hit the Louisiana coast with winds over 100 mph! Here’s what’s on the radar:
Expect up to 12 inches of rainfall and a storm surge up to 10 feet along the coast.
🌽 While heavy rain is expected in parts of the Corn Belt, it won’t be enough to ease low water levels on the Mississippi River.
🐂 Brazilian Cattle Herd Decline: What’s Next for Global Beef?
The cattle industry is facing a rough road ahead 🐄. Brazil’s cattle herd is expected to decline in 2025 and beyond, with fewer cattle being slaughtered. Here's what you need to know:
Brazil, the largest beef exporter in 2024, is expected to see a drop of 4.6% in slaughter next year.
🥩 Meanwhile, the US beef cowherd is at its lowest level since 1951!
🛢️ Oil Prices Plummet: What’s Behind the Drop?
Oil prices took a hit! 📉 WTI crude dropped 4% to close at $65.75 per barrel. The culprits? OPEC+ downgraded its demand growth forecast, citing:
China’s slowing economy and growing reliance on natural gas.
Decreased economic activity in the US and Europe.
But don’t count oil out just yet! Some analysts believe that postponed production cuts could stabilize prices in the months ahead.
#SustainableFood #45ZTaxCredit #HurricaneFrancine #GlobalBeef #OilPrices #AgNews #FoodIndustry