Higher prices for meat and other foods are helping fuel the inflation that is pinching consumers. Supermarket prices rose 0.8% in June, driven by a 2.5% increase for meat, poultry, fish, and eggs. Beef prices rose 4.5% last month.
Livestock producers across the West and northern Plains are relying heavily on rangeland insurance policies this year, even as the Agriculture Department considers changes to the program that could limit future indemnities for some farmers and ranchers.
Farmers are getting new options to cover differences in farming practices and crops, and many growers will be able for the first time this year to buy an endorsement to cover a portion of their deductibles.
Congressional leaders spent Tuesday evening behind closed doors working on a sweeping year-end deal that would include a new coronavirus relief package as well as funding for the federal government for the fiscal 2021.
The incoming Biden administration is expected to take a new look at using crop insurance to encourage farming measures that reduce greenhouse gas emissions and protect water quality, but the effort will face an old challenge — finding the data to prove that the practices don’t increase program losses.