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Posts Tagged ‘texas’
Friday, May 20th, 2011
Texas is currently in the midst of a severe drought, one of the largest in recent memory. According to the U.S. Drought Monitor, nearly the entire state is currently experiencing a drought, much of it severe to extreme. Even recent rainfall has done little to alleviate the stress placed on farmers and ranchers in the Lone Star State.
Current estimates predict that the financial losses caused by the drought will top $1.2 billion and could easily climb higher than that. One of the hardest hit agricultural industry is the livestock industry, which itself could experience over $1 billion in losses between November 2010 and May 2011. As the largest beef producing state in the country and with 90% of cattle producing counties experiencing severe to extreme drought, Texas is reeling from the abnormally dry weather. In addition to complications caused by lack of feed, many livestock water tanks are low or nearly empty. A lack of water to give to livestock could have dire consequences on the state’s cattle industry.
The drought could have an impact beyond farming and ranching. The loss of commodities and the inability to plant corn and wheat could lead to a drop in food supply. With farming purchasing more crops to feed livestock, prices could (and in the case of hay, have) go up in recent months, impacting all consumers nationwide.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmplusfinancial.com.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: drought, texas
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Saturday, May 14th, 2011
In a situation that seems to mirror the rest of the country, severe weather in Texas could hinder crop planting and harvesting and could drive many farmers out of business. A massive drought, which has lasted for several weeks, continues to ravage Texas. According to the U.S. Drought Monitor, virtually the entire state is experiencing some form of drought, most of it classified as severe or extreme, the two highest categories of the Drought Monitor. May is typically the wettest month in Texas, yet very little rain has fallen and it seems increasingly likely that Texas farmers will not get relief anytime soon.
The severity of the drought looks like it will have a serious impact on Texas agricultural production. In a press release, the Texas Farm Bureau has stated, “Texas farmers and ranchers are in an extremely critical situation as we prepare for June and the hot summer months. Crops are shriveling in the field. Pastures are burning. Many farmers likely will have little or nothing to harvest. Some ranchers already are selling their herds.”
In response to the weather, many farmers have resigned themselves to the use of city water and irrigation systems that can still deliver needed water to crops. However, the costs of these systems are prohibitively expensive, and water costs for Texas farmers have already doubled. The drought, combined with the rain and flooding east of the Mississippi River, all points to the possibility of a major rise in food prices. If many agricultural states do not get relief from extreme weather, it seems likely that the food supply in the U.S. could drop, causing a spike in prices.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmplusfinancial.com.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: drought, texas, Texas Farm Bureau
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Wednesday, February 23rd, 2011
The Texas Farm Service Agency announced there is $1.6 billion available for producers across the state who need assistance with conservation practices, commodity support and disaster recovery.
Young County alone received a large chunk of this to assist with programs for producers across the country.
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Tags: FSA, texas, usda
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Wednesday, October 27th, 2010
Texas rice farmers have anxiously been following efforts in Congress to end the economic embargo in Cuba. Passed during the Cold War, trade with and travel to Cuba has been banned by the US for decades. Farmers now, particularly rice farmers in Texas hope that these bans will be lifted, opening Cuban markets to US trade. Unconcerned with ideological issues, farmers are more interested in potential profits than partisan hostilities. “Farmers are bottom line-oriented,” said Thomas Wynn, an economist and rice farmer from Egypt, Texas.
Proponents of ending the ban believe that the sluggish US economy offers the best chance in years to end the embargo and open up Cuban trade. They also believe that ending the ban could reinvigorate the US economy, particularly the Texas rice trade, which has suffered from the recent economic decline. “The impacts would be enough to ensure the survival of a significant percentage of Texas agriculture,” Wynn said.
If the embargo is lifted, economists have estimated a significant increase in economic activity in Texas. Opening the agricultural market in Cuba could potentially double Texas’ agriculture exports, adding $18 billion to a $20 billion economy. Trade with Cuba would also help generate $16 billion in overall agricultural economic activity. On a national level, Cuban trade could generate over $350 million and generate thousands of new jobs. At a time when we are struggling to create jobs, this is a bill that would help solve at least part of the problem,” said Parr Rosson, an economist in the Department of Agricultural Economics at Texas A&M’s Texas AgriLife Extension.
In need of financing? Contact Farm Plus today for information on our low-rate agriculture loans. Call us at 866-929-5585 or visit our website for more information on farm and ranch loans.
Tags: congress, cuba, rice, texas
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Friday, August 28th, 2009
The USDA is offering a new program for grassland owners, especially those in South Texas.
The Grassland Reserve Program is a conservation program that applies to any grassland used for grazing. The money is to defer cattle grazing until conditions improve meaning drought like conditions disappear.
$4 million have been set aside for the program and South Texas producers are at the top of the list because they have been the most affected. 78 counties in Texas have been declared drought zones by the U.S. Drought Monitor.
Are you in need of a farm loan or ranch loan? Contact Farm Plus today for information on low-rate loans. Call 866-929-5585 to speak with a representative or visit our website for information on farm loans and ranch loans.
Tags: grassland reserve program, texas
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Friday, August 28th, 2009
The USDA announced Texas farmers and ranchers will have to wait until the fall to receive money from $3 billion provided for crop losses after drought conditions.
Producers are unhappy with the announcement because of the crop losses they are seeing from the droughts. The Supplement Revenue Assistance program is a part of the 2008 farm bill approved by congress totaling in $290 billion.
The program reimburses farmers for 60 percent of losses, but these payments will not be sent out until October or November. The losses from the 2009 harvest will be paid in 2010.
U.S. Sen. John Coryn wrote a letter to USDA Secretary Tom Vilsack on behalf of the producers stating, “These producers have done all that USDA has asked of them in order to prove their dire conditions and confirm eligibility, and yet they wait.”
Reports say Texas ranchers lost $569 million from November to March. 167 Texas counties have been declared states of disaster because of fire damage from the drought.
Do you need a farm loan or ranch loan? Contact Farm Plus today for information on low-rate farm loans and ranch loans. Call 866-929-5585 or visit our website for more information.
Tags: crop losses, texas, usda
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