The latest Federal Reserve Beige Book report on the U.S. economy highlights continuing concern about trade. The farm financial situation is also a worry. The Minneapolis Fed said agricultural conditions worsened from an already weak position in this past month. Heavy rainfall and planting delays were considerations. The poor growing season was cited in many Fed districts. Historic flooding on the Mississippi River and its impact on ag shipments was highlighted by the St. Louis district. On the livestock side, the report said cattle prices have dropped. Struggling dairy operations are also sending more cows to slaughter, which is contributing to lower cattle prices.
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