Finance

More Money, Less Accountability

On Jan. 5, Harvest Public Media reported that “a federal investigation has been launched into the alleged embezzlement of $2.6 million by an employee” of the Oklahoma Beef Council.
According to the report, the state’s beef checkoff-collecting group had been unaware that “its former accounting and compliance manager” allegedly “started forging checks in the group’s name” […]

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An Allegory and A True Story

The allegory:
Not long ago, a man named Jim was in business with his brother Bob. Jim was the hardworking, money-making side of the firm; Bob was the always smiling, money-spending side.
And, sure, Jim knew the arrangement was lopsided but he loved and trusted Bob and Bob was Jim’s greatest admirer and biggest promoter.
The business did […]

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We Feed the World Is “Not a Harmless Myth”

The Environmental Working Group (EWG) is using this harvest season to solidify its reputation as the biggest not-for-profit policy organization American farmers love to hate.
The hatred took root in 1995 when EWG published—on something called the Internet—a 10-year, searchable database of U.S. Department of Agriculture (USDA) payments to all American farm entities. Farmers, especially the […]

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Burning Down the Barn

If the prospect of either Donald Trump or Hillary Clinton as president scares you, put down the television remote and pick up “Global Material Flows and Resource Productivity,” a new report from the United Nations Environmental Program. It makes the dour debaters look positively sunny.
OK, sure, the report’s title suggests it will be as dull […]

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There’s No “Future” In the Futures Market

As the food industry continues to consolidate into fewer, bigger players, the price risk it once hedged in Chicago and New York futures markets is being pushed back onto the very farmers and ranchers it buys from.
The reason is simple: the Big Boys have the market power to do it.
After decades of Big Ag’s talk […]

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The Last Free Trader in America

Can trade—free, fair, or otherwise—get some love this election season?
Fat chance.
In fact, the only national politician four-square in favor of global trade and its latest multi-nation deal, the Trans-Pacific Partnership, or TPP, is no one anyone could have seen in that role: Barack Obama.
Holy cow, what’s next; the Chicago Cubs in the World Series?
Perhaps, and […]

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No Trade? No Kidding.

You know it’s a presidential election year when the U.S. Department of Agriculture (USDA) issues late summer press releases where nearly half the ink touts the Obama’s Administration’s past ag successes even as it announces actual news.
On Aug. 1 USDA issued just such a press release; 315 of its 635 words bragged about the White […]

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Warbling Bluebirds

The Texas rancher was rehashing his Capitol Hill meeting over a cold beer and a not-much-warmer steak at a swanky restaurant a block or two from the White House.
“It was pretty discouraging,” he said as he sliced into the slab of red rib-eye. “That guy”—his congressman—“had no more idea of what he was talking about […]

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“Oh, I Believe in Yesterday”

Across the centuries, Great Britain has given the world many things uniquely British—the Puritans, Andrew Carnegie, The Beatles and, as we Americans again celebrate this Fourth of July, the United States.
On June 23, it gave the world another significant gift: a big step into the dark abyss of a go-it-alone future in today’s ever-globalizing world.
Sure, […]

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The “Con” in Econometric

While American farmers and ranchers were eyeball-deep in spring planting and first-hay cutting, their commodity groups and federal government were knee-deep in narrowly-focused studies filled with meaningless numbers and unchallenged econometric puffery.
For example, the National Corn Growers Association (NCGA) and U.S. Grains Council (USGC) released a privately “commissioned” report May 24 that proclaimed the 2014 […]

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