A new quarterly report from CoBank says higher commodity prices have been beneficial for farmers, but increases in raw material and transportation costs are resulting in higher costs to the consumer. Farm supply cooperatives had a strong spring agronomy season as farmers increased spending on crop inputs. The ethanol business outperformed trade expectations, but the regulatory environment remains volatile. For livestock, the national beef herd continues to shrink. Hog production has been supported by strong demand. Milk production is rising despite higher feed costs.
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