The American Farm Bureau says it’s working on a program to
help producers use futures and options contracts. Farm Bureau Chief economist says
they’ll offer discounts on market intelligence and other services so producers
are more comfortable using them.
Newton says farmers’ confidence in USDA data and the market
response has been shaken, “When you see the market go limit down two days a row
in the cattle market, or you see the market go limit down after a USDA acreage
report, or you see USDA announce export numbers for pork that are unrealistic
and they have to go back and say, ‘well, those sales occurred over the last few
weeks.’”
Newton, speaking at a recent Farm Foundation Forum, said Farm
Bureau is working with the Commodity Futures Trading Commission and looks
forward to rolling out the program soon.
Continue reading AFBF says confidence in USDA/markets shaken at Brownfield Ag News.
