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Yahoo
23-05-2025
- Business
- Yahoo
‘Chaotic tariff policy': USDA buys $16M of Oregon shrimp to help fishermen
PORTLAND, Ore. () — The U.S. Department of Agriculture has purchased millions of dollars worth of Oregon seafood to help boost the state's economy. Bruce Summers, administrator for the federal agency's Agricultural Marketing Service, of Pacific pink shrimp in a letter on May 16. Portland city workers avert strike after reaching tentative agreement 'We recognized the importance of Pacific pink shrimp to the economic health of our Nation and of the demand for high-quality, nutritious products for nutrition assistance programs,' Summers wrote in response to the request from Oregon Trawl Commission Director Yelena Nowak. This follows a letter in which seven Oregon lawmakers, including Sen. Ron Wyden, Rep. Maxine Dexter and Rep. Suzanne Bonamici, 'as soon as possible' — due to tariff uncertainty. President Donald Trump revealed his plan to enforce reciprocal tariffs on several countries, including the European Union, in March. As a result, the EU announced its plan to enforce 25% tariffs on an array of U.S. exports. The union has since paused its intentions to retaliate, but Oregon legislators say the uncertainty had already prompted several buyers to cancel or suspend large orders — just as fishermen are expecting a 'significant harvest' this season. The United Kingdom has also rejected the U.S. fishing industry's request to pause 20% tariffs on Pacific pink shrimp imports, lawmakers said in the May 5 letter. Bend man convicted for hitting Yellowstone National Park worker with vehicle In a statement, that the Oregon industry moves billions of dollars worth of seafood. State leaders and stakeholders hope the recent investment helps local fishermen stay afloat. 'Chaotic tariff policy has caused economic uncertainty, putting these businesses and Oregonian's livelihoods at risk,' Rep. Suzanne Bonamici said in a release. 'I am grateful that USDA has heeded our call to support Oregon's seafood industry by purchasing millions of dollars of Oregon pink shrimp.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
12-04-2025
- Business
- Yahoo
USDA's $1B bird flu plan uses money intended for schools, food banks
Agriculture Secretary Brooke Rollins' $1 billion plan for fighting bird flu will rely on money cut from programs meant to help schools and food banks support local farmers, according to two people familiar with the discussions. Rollins in February rolled out a five-step strategy to fight bird flu that includes importing eggs and researching and developing a poultry vaccine. But that raised questions about whether it would use new federal money, even as the Trump administration is generally cutting back. Instead, it will use the money previously intended for two food programs that USDA canceled earlier this year, according to the people, who were granted anonymity because they were not authorized to speak publicly. The move tees up a major political fight over the Trump administration's priorities, as USDA struggles to use a relatively small pot of money to help farmers facing economic headwinds, curb a deadly avian flu outbreak and address a worsening hunger crisis — all while meeting the statutory obligations of the fund. Trump's rapidly escalating trade war with China could also pressure USDA to find new money to assist farmers who may no longer have a market for their products. USDA did not respond to multiple requests for comment. On a call with Hill staffers Friday, USDA said the money to pay for the bird flu response came from funds allocated to the Agricultural Marketing Service, which is the agency that administered the local food programs. But when one participant asked specifically if the money was repurposed from those programs, USDA declined to answer, according to someone on the call who was granted anonymity to share details of a private discussion. Former President Joe Biden allocated $1 billion in funding to the local food programs as part of his effort to build a more resilient food supply chain. The programs helped schools, child care facilities and food banks purchase fresh food from local farms and helped small- and mid-sized farms expand their businesses. Their abrupt cancellation sparked swift political backlash in Congress and online, as schools scrambled to find new funding for fresh food and farmers were left with unpurchased crops. Food banks are also feeling the strain of meeting increased hunger demands as prices soar. In addition to the local food programs, the Trump administration slashed roughly $500 million in funds to an emergency assistance program that supports food banks nationwide — though USDA says it's already making additional buys to counteract those cuts. The $1 billion for food programs — and now, for bird flu response — comes from a New Deal-era fund that gives the Agriculture secretary sweeping authority to provide disaster relief, support farmers and respond to market downturns. That fund, known as the Commodity Credit Corporation, has $30 billion to spend each year, but it has dwindled to roughly $4 billion in available funds. Its annual replenishment could be in jeopardy as lawmakers vie for leverage. Lawmakers will need to decide whether to replenish or even add more money into the CCC fund, though it'll likely be a long, uphill battle. Republican budget hawks are already skeptical of just about any spending from the CCC, and a few Democrats have floated voting against the fund's upcoming replenishment to protest the Trump administration's spending freezes. The cuts to local food procurement money reflect the Trump administration's plans to reorient the CCC fund toward its priorities, and rein in what Republicans view as the Biden administration's legally-questionable use of the fund. The $500 million in funding for the emergency assistance program for food banks also came from the CCC. And the Trump administration has frozen roughly $2 billion of the $3 billion Partnerships for Climate-Smart Commodities, a CCC-funded initiative Biden established to help farmers mitigate their carbon footprint and adapt to climate change. Some food banks are hopeful Congress will provide permanent funding for the local food programs, said Celia Cole, CEO of Feeding Texas. Until then, her state's network of food banks will need to rely on private philanthropy to keep up at least some of their contracts with farmers. 'I know this administration is committed to reevaluating and focusing on decisions made in the past administration,' Cole said recently. 'For us it's a matter of making sure in the interim we can meet the need.'
Politico
12-04-2025
- Business
- Politico
USDA's $1B bird flu plan uses money intended for schools, food banks
Agriculture Secretary Brooke Rollins' $1 billion plan for fighting bird flu will rely on money cut from programs meant to help schools and food banks support local farmers, according to two people familiar with the discussions. Rollins in February rolled out a five-step strategy to fight bird flu that includes importing eggs and researching and developing a poultry vaccine. But that raised questions about whether it would use new federal money, even as the Trump administration is generally cutting back. Instead, it will use the money previously intended for two food programs that USDA canceled earlier this year, according to the people, who were granted anonymity because they were not authorized to speak publicly. The move tees up a major political fight over the Trump administration's priorities, as USDA struggles to use a relatively small pot of money to help farmers facing economic headwinds, curb a deadly avian flu outbreak and address a worsening hunger crisis — all while meeting the statutory obligations of the fund. Trump's rapidly escalating trade war with China could also pressure USDA to find new money to assist farmers who may no longer have a market for their products. USDA did not respond to multiple requests for comment. On a call with Hill staffers Friday, USDA said the money to pay for the bird flu response came from funds allocated to the Agricultural Marketing Service, which is the agency that administered the local food programs. But when one participant asked specifically if the money was repurposed from those programs, USDA declined to answer, according to someone on the call who was granted anonymity to share details of a private discussion. Former President Joe Biden allocated $1 billion in funding to the local food programs as part of his effort to build a more resilient food supply chain. The programs helped schools, child care facilities and food banks purchase fresh food from local farms and helped small- and mid-sized farms expand their businesses. Their abrupt cancellation sparked swift political backlash in Congress and online , as schools scrambled to find new funding for fresh food and farmers were left with unpurchased crops. Food banks are also feeling the strain of meeting increased hunger demands as prices soar. In addition to the local food programs, the Trump administration slashed roughly $500 million in funds to an emergency assistance program that supports food banks nationwide — though USDA says it's already making additional buys to counteract those cuts. The $1 billion for food programs — and now, for bird flu response — comes from a New Deal-era fund that gives the Agriculture secretary sweeping authority to provide disaster relief, support farmers and respond to market downturns. That fund, known as the Commodity Credit Corporation, has $30 billion to spend each year, but it has dwindled to roughly $4 billion in available funds. Its annual replenishment could be in jeopardy as lawmakers vie for leverage. Lawmakers will need to decide whether to replenish or even add more money into the CCC fund, though it'll likely be a long, uphill battle. Republican budget hawks are already skeptical of just about any spending from the CCC, and a few Democrats have floated voting against the fund's upcoming replenishment to protest the Trump administration's spending freezes. The cuts to local food procurement money reflect the Trump administration's plans to reorient the CCC fund toward its priorities, and rein in what Republicans view as the Biden administration's legally-questionable use of the fund. The $500 million in funding for the emergency assistance program for food banks also came from the CCC. And the Trump administration has frozen roughly $2 billion of the $3 billion Partnerships for Climate-Smart Commodities, a CCC-funded initiative Biden established to help farmers mitigate their carbon footprint and adapt to climate change. Some food banks are hopeful Congress will provide permanent funding for the local food programs, said Celia Cole, CEO of Feeding Texas. Until then, her state's network of food banks will need to rely on private philanthropy to keep up at least some of their contracts with farmers. 'I know this administration is committed to reevaluating and focusing on decisions made in the past administration,' Cole said recently. 'For us it's a matter of making sure in the interim we can meet the need.'
Yahoo
29-03-2025
- General
- Yahoo
Record egg prices continue soar — here's how to find relief
It used to be the case that if you wanted an inexpensive source of protein, you'd head to the grocery store and grab a dozen eggs. That's no longer the case. Data from the USDA's Agricultural Marketing Service (AMS) found that over the last year, the average price for a dozen eggs went up 63%. By some metrics, that percentage is even higher; the national average price was $5.90 in February, based on data from the Bureau of Labor Statistics (BLS). That's up from $3.00 from the previous February and from $1.45 in 2020. So what exactly is causing this surge, and what can you do about it? I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Americans with upside-down car loans owe more money than ever before — and drivers can't keep up. Here are 3 ways to cut your monthly costs ASAP The short answer is there are shortages in supply due to an avian flu outbreak. The longer answer is a bit more complicated. More specifically, the most recent outbreak from Highly Pathogenic Avian Influenza has caused the deaths of around 150 million chickens and turkeys — a large percentage of them egg-laying hens. Farmers have been battling this outbreak since 2022 and have been working hard to repopulate chickens to meet the demands for eggs. Because even young egg-laying hens have been affected, this repopulation is expected to take at least six months to a year. Emily Metz, chief executive of the American Egg Board, told Wall Street Journal that farmers 'know people are frustrated and they are frustrated too by the situation,' and that 'they know they are not able to put on the volume of eggs that people want.' As the decreased supply of eggs hasn't tempered demand, prices have gone up as a result. Stores are trying to maintain a steady supply of eggs and not risk having them sell out. But the Department of Justice (DOJ) is also considering other reasons why prices are so high and has launched an investigation into the cause of the steep rise in cost of eggs. Its antitrust probe is also looking at whether the ongoing shortage is the result of collusion between producers and distributors to drive up profits. Typically, grocery stores tend to keep the price of eggs relatively low, partially as a strategy to attract customers through the doors. In other words, grocery stores only put a small markup from wholesale egg prices, knowing that consumers will likely buy other items with higher profit margins while in the store to purchase their eggs (a strategy Costco employs as well). Many commercial farms in the U.S. rely on large-scale operations because of the automated equipment used to keep up with production. This puts a greater number of birds at risk for infection, when just a single bird becomes infected. But even states like California, Nevada and Massachusetts may see prices soar even higher because of their ban on the production and sale of conventionally-raised hens; these states rely on cage-free eggs, which are also experiencing decreased supply due to avian flu as well. To help combat the egg shortage, the USDA is investing $1 billion into lowering egg prices and combating avian flu. The organization is looking at options to increase the import of eggs from countries like Canada. Plus, the USDA is also working to temporarily decrease the export of US eggs to shore up its own supplies. Read more: Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus 2 ways to build that first-class portfolio Canada's approach is somewhat different, and Canadians have not seen the same steep price increases or shortages as Americans have. There are a few reasons for this, but the key difference is that egg farms in Canada are smaller — typically housing 25,000 egg-laying hens. Compare that to American farms, which see over a million egg-laying hens per large-scale farm. This means that when one farm is impacted by avian flu in Canada, it's much easier to contain the outbreak and other suppliers can continue supplying their eggs. Effectively, Americans put more of their eggs in fewer baskets compared to their northern neighbors. And while historically, this would have resulted in cheaper eggs due to scale of production, in times like these, the cost per egg is higher in the U.S. Although data shows that egg prices are indeed slowly falling, the supply won't be back at its usual levels for some time. To cope with high prices in the meantime, you can watch for local grocery store deals and seek out coupons and competitive pricing. Buying in bulk could offer some discounts per egg, but this only makes sense if you can reasonably consume this amount of eggs (or find people to split the cost with). Buying from local smaller-scale sources could also offer some savings, in addition to providing support to these farmers. Depending on what you're making, egg substitutes could be a great alternative. Liquid egg substitutes, such as aquafaba — the starchy liquid from cooked or canned chickpeas — and other vegan alternatives could be cheaper than the price of a dozen eggs (and they can be made at home). Alternate egg replacers are typically made with flax seeds, tofu, potato starch and bananas and can easily offer a substitute for eggs in baking, like cakes and cookies, so as the Easter and Passover seasons approach, there are options available to you. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Protect your retirement savings with these 5 essential money moves — most of which you can complete in just minutes This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
10-03-2025
- Business
- Yahoo
Farmers put plans, investments on hold under Trump USDA spending freeze
By P.J. Huffstutter, Leah Douglas and Tom Polansek CHICAGO/WASHINGTON - Nate Powell-Palm, an organic farmer outside Belgrade, Montana, was relying on a $648,000 grant from USDA's Agricultural Marketing Service to help build a feed mill - an economic lifeline for about 150 area organic grain farmers. But construction is on hold following the Trump Administration's freeze on some agricultural grants and loans as it conducts a broad review of federal spending. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Now, about 500 tons of baled alfalfa sits untouched in stacks in his fields, and a bill from a Colorado equipment manufacturer is past due. Last week, he traveled with a group of farmers to Washington, D.C. to meet with lawmakers and try to get their frozen USDA grant funding released. Farmers and food organizations across the country are cutting staff, halting investments and missing key funding amid a USDA freeze on a broad swath of grants, more than two dozen farmers and agricultural support groups in seven states told Reuters. All this comes as Trump has imposed new tariffs on goods from Canada, Mexico and China, sparking trade wars with the biggest buyers of U.S. farm products. Trump on March 6 said he would exempt farm products like potash fertilizer from the tariffs until April 2. But if they eventually go into effect, the tariffs would hurt the $191 billion American agricultural export sector, raise costs for farmers struggling with low crop prices and send consumer grocery prices higher, farm groups warn. "As the president said, farmers need to start growing crops to sell here in the U.S.," Powell-Palm said, referencing a March 3 post by Trump on his Truth Social website in which Trump said farmers should prepare to sell more domestic product. "This is what we are trying to do. We just need our approved grant funding to be released." Trump has historically enjoyed widespread support across the U.S. Farm Belt, where he won most states in the November election. But recent actions - like a freeze on most humanitarian aid and a broad review of federal spending that paused disbursements - have disrupted some agricultural markets and caused stress and confusion in farm country. For example, some agricultural production lines have been halted. Two farmers, who requested anonymity to discuss sensitive personal financial matters, told Reuters they were weeks away from being forced to file for bankruptcy because of the USDA freeze. White House Deputy Press Secretary Anna Kelly said the administration is making agencies more efficient, including to better serve farmers. A USDA spokesperson said the administration is reviewing the frozen programs. BILLIONS IN AID Though the U.S. farm sector previously faced sweeping trade wars under Trump, many have remained loyal even as his policies and tariffs damaged American farm sales and resulted in lost global market share that soybean growers still haven't recovered. But many farmers last fall believed they were so politically important to Trump winning back the White House, that he would help cover their financial losses. After all, it happened before. Under the first Trump administration, farmers received about $217 billion in farm payments, including crop support, disaster, and aid programs - more than in any prior four-year period since 1933, according to a Reuters examination of USDA data. Adjusted for inflation, the only period with more spending on farmers was 1984 to 1988, when a farm economic crisis battered rural America. Agriculture secretary Brooke Rollins has said USDA is considering direct payments to farmers again if trade wars lead to farm losses. Currently, the USDA administers hundreds of programs that support the agriculture sector, either through grants and loans, or direct payments and other subsidies. From financial assistance programs alone, U.S. farmers and ranchers received $161 billion from USDA between fiscal years 2019 through 2023, according to a December report by the U.S. Government Accountability Office. Several of the grant recipients interviewed by Reuters said their money came from former President Joe Biden's Inflation Reduction Act, which provided more than $20 billion for farm and forestry conservation programs. Trump froze IRA disbursements in his first days in office, though the White House said on January 22 that the freeze only applied to clean energy projects. Rollins said on February 20 that the agency is beginning to unfreeze some IRA money for farmers, but the scope of the release is unclear. The USDA did not comment on how much money has been released from IRA or other funding sources. The White House did not respond to questions about under what authority the funds are frozen or when they may be released. The full scope of economic impact on farmers is not known. Two federal judges have blocked Trump from issuing broad freezes of federal spending. 'YOUR WORD MEANS SOMETHING' Many farmers are worried they won't be spared from Trump's government downsizing. Seeking answers, farmers have called their Congressional representatives and local contacts at field USDA offices. Sometimes, the calls were answered. Sometimes, not. Dave Walton, a row crop farmer in Muscatine County, Iowa, said farmers had expected Trump's administration to improve the federal safety net, not slash it. "In farming, your word means something. If you sign a contract, that means something," said Walton, who said he's waiting on $6,000 from a USDA-funded program for climate-friendly farming. Grain farmer Steve Tucker was awarded a $400,000 grant through Agricultural Marketing Service, which promotes domestic and foreign farm markets, to build a mill in southwest Nebraska. He had planned to grind this year's sorghum crop into flour and sell it to U.S. snack manufacturers, but now that's on hold. The broader grant freeze has also affected some farmers' customers. Ed and Becky Morgan scrimped for years to grow their livestock herd as demand for their sausage varieties boomed, thanks to local public schools hungry for lunchtime links. But the fate of USDA grants that help schools buy foodstuffs from local farmers - like the Morgans' flavored sausages - remains uncertain, said Spencer Moss, the executive director of the West Virginia Food and Farm Coalition in Charleston, West Virginia. Some of the frozen USDA money is linked to soil and water conservation, organic and local food, regional and rural food systems, and minority and women farmers, according to Reuters interviews with farmers and farm organizations. Food and farm groups with grants unrelated to conservation also told Reuters they were not receiving promised funds. The West Virginia Food and Farm Coalition received about 80% of its funding from federal sources, including USDA nutrition programs that help low-income consumers buy more produce, Moss said. The group, which works with local farmers markets and provides technical assistance to farmers, said it was still waiting for guidance from the USDA on its invoices, Moss said. The group has been paid for some grant-related invoices, but has been told it won't - at least for now - be paid for expenses incurred after January 19, after Trump took office. "We've made promises to our farmers, because the federal government signed contracts with us," Moss said. SPRAWLING NETWORK Farmers have also been affected by spending freezes at other agencies, like USAID, which support programs that buy bulk farm commodities. At the State Department, the Trump administration has said it would release less than $100 million of the roughly $40 billion in USAID programs administered annually before the freeze, according to a list of exemptions reviewed by Reuters. The Supreme Court on March 5 ruled that the administration cannot withhold payments to aid groups for work already performed. The freeze has exacerbated pain felt by farmers under pressure from low grain prices. The number of U.S. farm bankruptcy filings jumped 55% in 2024, compared to a year earlier, according to the latest United States Court data. Jillian Blanchard, vice president of climate change and environmental justice at the nonprofit Lawyers for Good Government, said the group was working with about 100 grantees who are impacted by the USDA spending freeze. "You need to have certainty if you're going into business with the federal government," she said.
