In its monthly meeting, the Farm Credit Administration board reviewed the economic issues affecting agriculture. The report says 2019 crop production is at risk due to wet weather and late plantings, creating pricing opportunities for those farmers with a crop. Crop insurance indemnities and disaster payments will cover some losses. The quarterly report says the outlook for dairy and livestock producers has improved with the rate of production growth slowing and relatively strong demand. Margins within animal agriculture will likely tighten due to recent crop price increases which will boost feed costs.
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