California Pork Prices Higher and Farmland Demand Strong
From the Ag Information Network, this is your Agribusiness Update.
**Prices for pork products subject to California’s Proposition 12 law have increased an average of 20% since the law began, according to new data.
The University of California’s Ag and Resource Economics Update noted California pork prices have risen more sharply than the rest of the nation under Prop 12.
Bacon, ribs and loin products had higher per-pound prices of $1.04, 54 cents and $1.42, respectively, than in other states.
**The ag economy has faced some challenges during the past year, with increased interest rates and decreased commodity prices.
But Farmers National Company reports overall farmland demand remains extraordinarily strong and land values are holding steady in most areas.
Troy Swee, Assistant Vice President of Farmers National, says even in agriculture’s slight downward turn, the company continues to get phone calls from farmers and investors looking to expand their landholdings.
**Senators and representatives from Western states called on the Biden administration to make further investments to address long-term drought.
They say, drought remains a severe risk for American farmers and ranchers and threatens farmland and local economies that rely on dwindling water resources.
It goes on to say, we’re asking the administration to bring all resources to bear in helping address the long-term drought and aridification of the Western U.S.
