Farm Bill Extension and Plant-based Meats Slowed
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**House Ag Chair GT Thompson says, "We're probably going to need an extension," referring to the 2023 Farm Bill.
The Pennsylvania Republican acknowledges "the clock is ticking," with the current farm bill set to expire at the end of the fiscal year, September 30.
Thompson says the House Ag Committee is expected to release a draft version of the 2023 Farm Bill, possibly by the end of the month.
**U.S. consumers remain interested in plant-based meat alternatives, but higher prices have slowed purchases.
Plant-based meats are often several dollars per pound higher than conventional meat and poultry products.
Negative perceptions surrounding taste, value and versatility are also obstacles the category has yet to overcome.
According to a CoBank report, the market for plant-based meats has likely reached a tipping point as the initial exceptional sales period appears to be over.
**USDA’s Farm Service Agency and Risk Management Agency authorized flexibilities for disaster assistance programs and crop insurance to aid Northeast farmers impacted by flooding this year.
USDA Undersecretary Robert Bonnie says, “The production and physical losses to flooding have devastated farmers and ranchers in the Northeast.”
Additionally, producers experiencing financial hardships and finding themselves behind on their FSA Marketing Assistance Loan repayment should contact their USDA Service Center.
