Supply Chain
If you walk into the grocery store today, the average American will fork over $7 per pound for bacon. The record prices may not be over yet, but pork producers aren’t winning with the run-up in bacon prices, either.
The theme of Covid shutdowns, along with shifts to greener energy and other decisions, has led to a network of shortages that threaten home heating in Britain, electricity in Brazil, and availability of power in China.
As labor woes continue to cripple meat processing plants, Missouri is rolling out a unique concept to answer many processors’ biggest need. The classroom on wheels will provide workforce development at a pivotal time.
U.S. tractor maker Deere & Co agreed on a new six-year contract with the United Auto Workers (UAW) union that would be subject to a vote by the company’s striking workers, the company said in a statement on Saturday.
The price shoppers pay for items like meat at the grocery store are expected to continue the rapid rise. An updated Consumer Price Index shows wholesale beef prices could increase 20% this year.
From nitrogen to glyphosate, prices are posting 100% to 300% increases right now. Some farmers say they can’t even get retailers to price product until the inputs actually arrive at the retail facilities.
Input prices continue to climb in the U.S. with some farmers fearing they may not even be able to source enough glyphosate and glufosinate for next year. But the situation may be even worse for farmers in Brazil.
Supply chain issues are becoming one of the biggest concerns for agriculture, and some economists say as the bottlenecks reach a critical point, it could take at least a year to remedy chaos in the global supply chain.
Positive demand news late in the week meant soybean prices tried to recover from the double digit losses after the USDA reports. And it’s more than price that could have the final say in the 2022 acreage debate.
Case IH-New Holland Parent Company Forced to Idle Production in EU Due to Shortage of Semiconductors
CNH Industrial announced this week its temporarily shutting down several of its European manufacturing plants that produce agricultural equipment. CNH says it plans to shut down the facilities for eight days this month.