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7 ag stories you might have missed this week - June 8, 2018

Ag Economy Barometer rises, Bayer completes Monsanto acquisition and FMMO among items in news this week.

Need a quick catch-up on the news? Here are 7 agricultural stories you might have missed this week. 

1. The May reading of the Purdue University/CME Group Ag Economy Barometer was 141, 16 points higher than in April 2018 and the highest barometer value since January 2017. – Farm Futures

2. University of Wisconsin Extension dairy economist Bob Cropp says the Class III price could reach near $16 in June. – Wisconsin Agriculturalist

3. Bayer and Monsanto merged June 7. The acquisition process began two years ago when Bayer first announced its intent to purchase Monsanto, a deal that cost around $63 billion. Monsanto will no longer be in the company name.  – Farm Futures

4. Marfrig Global Foods SA recently purchased control of Kansas City-based National Beef Packing Co. The company is led by Marcos Molina dos Santos. The acquisition moves Marfrig to the world’s second-largest beef producer. – Bloomberg

5. Higher interest expense will be another burden affecting farmland purchases and operating loans, according to a new report from CoBank's Knowledge Exchange Division. – Kansas Farmer

6. Economist Christ Hurt doesn’t expect the red ink in the hog industry to go away anytime soon. Hurt expects returns to be close to breakeven this summer before collapsing in the final quarter this fall through the first quarter of 2019. He expects losses to average about $23 per head for this six-month period. – Indiana Prairie Farmer 

7. California dairy producers approved the referendum allowing them to join the Federal Milk Marketing Order. The new order will be implemented Oct. 17 and affected parties must comply with the new order on Nov. 1. – Western Farm Press

And your bonus:

Given the upcoming mid-term elections, probabilities of a 2014 Farm Bill extension increase by the day, two Farm Progress editors say. – American Agriculturalist

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