The U.S. economy continues to outpace earlier expectations, but rural industries are disproportionately exposed to federal policy and face downside risks in the coming year DENVER, Dec. 12, 2024 (GLOBE NEWSWIRE) -- The U.S. continues to benefit from solid economic growth, low unemployment and moderating inflation. From today's vantage point, the U.S. economy seems likely to continue on that trajectory into 2025. However, the outlook for the rural economy is more volatile and uncertain. Rural industries are disproportionately exposed to federal policy, and the outcome of the 2024 election cycle promises to bring significant changes in the federal government's approach to everything from international trade and immigration to energy exploration and rural economic development. According to a comprehensive year-ahead outlook report from CoBank's Knowledge Exchange , the high level of policy uncertainty facing rural industries adds to their already long list of headwinds and challenges. "The environment we enter in 2025 hasn't fully defined itself yet, but many of the policies proposed by the incoming administration would likely have a negative impact on U.S. agriculture,” said Rob Fox , director of CoBank's Knowledge Exchange. "Open access to export markets and labor availability are critically important for agricultural producers and processors. Depending on how policy plays out, those two areas could be big challenges in 2025 and beyond.” The CoBank 2025 outlook report examines several key factors that will shape agriculture and market sectors that serve rural communities throughout the U.S. U.S. Economy: A New Economic Era Begins Most economists are forecasting 2025 U.S. GDP growth around 2.5%-3.0%, essentially the same as today. However, those forecasts are based on rather mild assumptions on forthcoming policy changes. When taken in isolation, President-elect Trump's proposed policies - tax cuts, decreased labor supply and tariffs on imported goods - are all inflationary. Consequently, longer-term interest rates have already edged higher, and the market has downshifted expectations for further Fed rate cuts in 2025. There is a good chance the proposed tariffs and the crackdown on undocumented immigrants will be more disruptive than markets have priced in, particularly in industries like construction and agriculture. U.S. Government: Trump Administration, Congress Set for Bustling January Start Congress is expected to wrap up the lame duck session of the 118th Congress by Dec. 19, hopefully addressing important pieces of unfinished business. A one-year extension of the 2018 Farm Bill is increasingly likely. President-elect Trump is expected to pursue an ambitious first-100 days of executive orders and other legislative activity that will likely include many of his campaign promises. These may include significant deportation efforts and immigration reform, implementation of tariffs, extending the 2017 tax cuts and providing regulatory relief rolling back the Biden administration's initiatives. The 119th Congress will have a long and challenging to-do list when members return to Washington on Jan. 3. U.S. Agricultural Economy: Trade War Could Send Ag Economy from Bad to Worse The short-lived commodity boom precipitated by global droughts, the war in Ukraine and COVID-19 supply issues is now a distant memory. Row crop prices are down nearly 50% from their 2022 highs. But production costs have remained elevated, and profitability has plunged to decade-plus lows. The silver lining is that dairy and livestock producers are generally profitable due to low feed costs and resilient consumer demand. However, more headwinds may be coming for both the crop and livestock sectors. President-elect Trump rode to victory on two main economic policy proposals: enact significant import tariffs and reduce immigration while deporting undocumented residents. In theory, these policies could achieve some limited objectives, but it is hard to paint them as anything but negative for the U.S. farm economy. Grains, Farm Supply & Biofuels: Policy Uncertainty Weighs on Exports, Biofuels A strengthening U.S. dollar, combined with the potential for trade disputes and record-large South American crops, weigh heavily on the outlook for grain and oilseed prices in 2025. U.S. farmers are widely expected to struggle with further margin compression as weaker commodity prices test farmers' ability to lower production costs. Crop input decisions will be evaluated much more closely with a focus on inputs that provide the greatest return on investment. The bearish outlook for oil prices diminishes the demand picture for ethanol, biodiesel and renewable diesel. Uncertainty over U.S. biofuel policy under the new administration also clouds the demand outlook for biofuels. Animal Protein: Rising Margins Improve Prospects for Growth Falling feed costs and rising producer margins have renewed expansion interest in animal protein segments. However, labor, construction and land costs remain elevated, tempering expectations for any meaningful supply growth in the near term. U.S. beef cow herd expansion is not expected to start until 2026 or 2027. The smaller herd will further support higher feeder and fed cattle prices in the coming year. With consumers now pushing back on beef prices already near historic highs, packer margins will remain under pressure well into 2025. Dairy: Record Investment Will Continue to Grow the Category The U.S. will see an unprecedented $8 billion in new dairy processing investment through 2026. Some of the new plants are poised to come online in 2025, with about half of the investment in the cheese category. The expected surge in cheese and whey output will likely put downward pressure on dairy product prices in the second half of the year. Sourcing additional milk supplies to fill new plant capacity is a looming question. 2023 and 2024 will go down as the first back-to-back years since the late 1960s that U.S. milk production took a downturn. On the flip side, higher component levels in farmgate milk, largely butterfat and protein, have lifted finished product yields. Food & Beverage: Health and Nutrition Take Center Stage The headline news for food, beverage and consumer packaged goods in 2025 is President-elect Trump's nomination of Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Kennedy's purported goals include eliminating ingredients banned in other countries and "getting the chemicals out” of America's food supply. Meanwhile, consumers' renewed focus on their health and the popularity of GLP-1 weight-loss drugs are showing signs of impacting food manufacturers. GLP-1 users purchase around 8% less food compared with average consumers, according to J.P. Morgan research. Food and beverage manufacturers' concerns about volume attrition are likely to continue well into 2025. Power & Energy: What an IRA Rollback Might Look Like President-elect Trump's return to the White House will signal a significant shift in U.S. energy policy. While he has promised to end the Inflation Reduction Act, slowing the clean energy momentum that has accelerated under the IRA may be more difficult than imagined. Popular programs in the IRA have directed significant investments to many rural and economically distressed communities. And more than a dozen House Republicans have voiced concern that repealing the IRA could jeopardize ongoing development in their communities. Clawing back IRA funds that have already been allocated could prove to be very difficult. The more likely scenario is that unallocated IRA funding will be redirected to other priorities. Digital Infrastructure: Rural Connectivity Faces New Challenges Political uncertainty and low participation in the Broadband, Equity, Access and Deployment program raises big questions for bridging the digital divide in the year ahead. The $42.5 billion BEAD program, created by the Infrastructure Investment and Jobs Act, includes an unprecedented level of government support. However, a lack of operator participation could blunt the impact of this well-intended program to bring reliable broadband access to underserved rural areas. Many small operators lack the specialized expertise or financial resources to meet some of the complicated BEAD requirements. Read the full report, The Year Ahead: Forces That Will Shape the U.S. Rural Economy in 2025 . About CoBank CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 77,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore. CONTACT: Corporate Communications CoBank 800-542-8072 [email protected]
In conclusion, China's richest man's foray into the male HPV vaccine market represents a significant step forward in the fight against HPV-related cancers in men. By combining his resources, influence, and expertise, he has the potential to drive meaningful change in preventative healthcare and men's health outcomes, both in China and on a global scale. As the world watches this pioneering effort unfold, one thing is clear: the future of men's health is brighter with leaders like him leading the way.
The traditional long-term lease model is gradually giving way to more flexible rental options in China. In response to changing lifestyle preferences and employment patterns, landlords are offering short-term leases, co-living arrangements, and furnished rentals to cater to diverse tenant needs. In 2024, we can anticipate a growing demand for flexible lease terms, providing tenants with greater flexibility and mobility.This initiative will not only help to preserve China's rich cultural heritage but also make it more accessible and easier to study for scholars and researchers around the world. By digitizing the "Rucang" collection, ByteDance is leveraging technology to bridge the gap between the past and the present, allowing people from all walks of life to explore and learn from these ancient texts.As Yang Niu Hua was led away to begin serving her sentence, a hush fell over the courtroom, punctuated only by the sound of her footsteps echoing down the hallway. In that moment, a sense of solemnity and reflection settled over all those present, as they pondered the implications of the verdict and the strength of character displayed by Yang Niu Hua in the face of adversity.
The journey to the championship was not an easy one, as Team Answers faced tough opponents and had to overcome numerous challenges along the way. However, their resilience, perseverance, and sheer determination propelled them to the top, where they rightfully claimed their well-deserved victory. Their triumph is a testament to their hard work, dedication, and passion for competitive gaming.Canada is already examining tariffs on certain US items following Trump's tariff threat
1. Russia: Russia's support for the previous regime in Syria has now backfired with its fall. The change in power may lead to a loss of influence for Russia in the region and disrupt its strategic interests.None
Lin Shidong and Wang Manyu, who are ranked second in the world, have also proven themselves to be formidable opponents, capable of challenging the top-ranked players. Their dedication to training, tactical intelligence, and mental strength have propelled them to the forefront of the sport.Setien's tactical decisions came under heavy scrutiny as Barcelona failed to contain Bayern's attacking prowess. His insistence on playing a high defensive line backfired spectacularly, with Bayern exploiting the spaces left behind to devastating effect. The likes of Joshua Kimmich and Leon Goretzka ran riot in midfield, leaving Barcelona's players chasing shadows for the majority of the match.
Historic Harris Institute building poised for revamp two years after cannabis farm foundIn conclusion, China's richest man's foray into the male HPV vaccine market represents a significant step forward in the fight against HPV-related cancers in men. By combining his resources, influence, and expertise, he has the potential to drive meaningful change in preventative healthcare and men's health outcomes, both in China and on a global scale. As the world watches this pioneering effort unfold, one thing is clear: the future of men's health is brighter with leaders like him leading the way.Gretchen McKay | (TNS) Pittsburgh Post-Gazette PITTSBURGH — Many Americans consider social media a scourge, but for a home cook, it can be a fun and informative place to get help deciding what to eat. Sure, some of the recipes would-be influencers recommend are in fact pretty abominable — check out @chefreactions on TikTok, Instagram or X for many, many examples — but I have stumbled across some pretty good recipes on many occasions, too. Related Articles Restaurants, Food & Drink | In season: The universal joy of carrots Restaurants, Food & Drink | Amy Drew Thompson: Maroush spreads comfort — and hummus — in Waterford Lakes Restaurants, Food & Drink | Orange and Volusia counties lead Central Florida restaurant shutdowns last week Restaurants, Food & Drink | Inaugural Sabor Y Sazón Fest hits Festival Park this weekend Restaurants, Food & Drink | Don’t shun pinot grigio! The good versions of wines you think are bad One that’s been going viral for a while and but only recently caught my eye shines a spotlight on the creamy, tomatoey dish known as Marry Me chicken. There are probably as many recipes for Marry Me chicken on social media as there are cooks. (Delish claims to have created the video recipe for the original dish, also known as Tuscan chicken, in 2016.) But in my opinion, the best variations hang their chef’s hat on a sauce made with sun-dried tomatoes, garlic and cream. Yum! This rich and luxurious entree is a definite step above the “engagement” chicken that caused a similar stir when it made its debut in Glamour magazine in 2004. That proposal-worthy recipe — saved for posterity in the 2011 cookbook “100 Recipes Every Woman Should Know: Engagement Chicken and 99 Other Fabulous Dishes to Get You Everything You Want in Life” — featured a whole chicken roasted with lemon and herbs. Awesome for sure, but not nearly as swoon worthy. I’ve been married for a very long time, so I’m not looking for a dish that will get me engaged. But who wouldn’t want applause when they put dinner on the table? That’s how Delish’s original recipe made it into the latest installment of “Dinner for Four for $25.” Usually when I’m building these economical meals, I do all my shopping in one store. This time, I shopped over the course of a weekend at some of my favorite haunts to see if that made a difference. (And no, I didn’t factor in the cost of gas, but maybe should have!) First stop after downing my Saturday morning latte and Nutella mele at a street-side table at Colangelo’s in the Strip District: Wholey’s Market, where I found boneless chicken breast at the bargain price of $3.89 per pound. I then crossed the street and headed down the block to Pennsylvania Macaroni Co., where I found several varieties of sun-dried tomatoes to chose from. I went with a jar of Ponti sun-dried cherry tomatoes for $5.09 — a definite splurge when your budget is only $25, but an ingredient I knew would deliver plenty of flavor. At Aldi, I found a bag of five huge lemons for $3.89, or 78 cents apiece, and a nice package of fresh broccoli for $2.28. A bargain, considering I would only use about two-thirds of it. The German supermarket chain known for its low prices and no-frills shopping experience (you have to deposit a quarter to get a shopping cart) also had butter — a main ingredient in my sandwich cookie dessert — on sale for $3.99 a pound. A bag of powdered sugar was pretty cheap, too, at just $2.09 for a two-pound bag. “Shopping” my pantry for ingredients I always have on hand, including garlic, olive oil, spices, rice, molasses and vanilla, once again helped keep costs down. Total bill: $24.38, or 62 cents under budget. Not bad when you consider the homemade dessert recipe makes more oatmeal sandwich cookies than a family can/should eat at one sitting. PG tested Sun-dried tomatoes could be considered a splurge item because even a tiny jar is expensive, but their concentrated, sweet and tangy tomato goodness add so much flavor to a dish! They are certainly the star of this chicken dish that has been making the rounds on social media platforms. Some say the entree is so good, you’ll get a marriage proposal out of it. At any rate, the Parmesan cream sauce that gets spooned on top of the chicken and rice will certainly make your diners swoon. This original recipe from Delish.com is a pretty easy dish to get on the table in quick fashion. Just remember to use a dry pot holder to take the pan out of the oven because it will be very hot; I very stupidly used a damp dish towel and now have another cooking scar. 4 (8-ounce) boneless, skinless chicken breasts Kosher salt Freshly ground black pepper 3 tablespoons extra virgin olive oil, divided 2 cloves garlic, finely chopped 1 tablespoons fresh thyme leaves 1 teaspoon crushed red pepper flakes 3/4 cup chicken broth 1/2 cup chopped sun-dried tomatoes packed in oil 1/2 cup heavy cream 1/4 cup finely grated Parmesan Fresh basil, torn, for serving, optional Cooked rice, for serving Preheat oven to 375 degrees. In a large ovenproof skillet over medium-high heat, heat 1 tablespoon oil. Generously season chicken with salt and black pepper and cook, turning halfway through, until golden brown, about 5 minutes per side. Transfer chicken to a plate. In same skillet over medium heat, heat remaining 2 tablespoons oil. Stir in garlic, thyme and red pepper flakes. Cook, stirring, until fragrant, about 1 minute. Stir in broth, tomatoes, cream, and Parmesan; season with salt. Bring to a simmer, then return chicken and any accumulated juices to skillet. Transfer skillet to oven. Bake chicken until cooked through and juices run clear when chicken is pierced with a knife, 10-12 minutes. Arrange chicken on a platter. Spoon sauce over. Top with basil, if using, and serve with cooked rice. Serves 4. — delish.com PG tested Broccoli is a reliable veggie when you need a little something extra to round out a meal and don’t want to spend a fortune. Here, it’s blanched until crisp-tender and then tossed with lemon juice and zest and a pinch of red pepper flakes. I used lemon olive oil (already on hand) for an extra burst of citrus flavor. 1 large bunch broccoli, separated into florets 2 tablespoons olive oil or butter 1 clove garlic, minced Juice and zest of 1/2 lemon 1 pinch (or two) red pepper flakes Flaky salt and freshly ground ground black pepper, to taste Place broccolini in a large skillet with about 2 inches of water; bring to a boil and cook until bright green, 1-2 minutes. Drain. Heat olive oil in the same skillet over medium heat. Stir in garlic and cook until golden and fragrant, 1-2 minutes. Add broccoli; cook and stir until heated through, 2-3 minutes. Squeeze lemon juice and zest over broccoli and season with red pepper flakes, salt, and pepper. Serves 4. — Gretchen McKay, Post-Gazette PG tested Remember how if you were lucky when you were a kid you got an individually wrapped Little Debbie Oatmeal Creme Pie in your lunchbox? These soft and chewy oatmeal cookies sandwiched with vanilla buttercream taste exactly the same. Actually, they’re better because they’re not made with corn syrup and artificial flavorings, but rather real butter and brown sugar. It’s important to let the cookies cool on the baking sheet for a few minutes before transferring them to a rack. Otherwise they will fall apart. The icing is very sweet, so you might want to reduce the amount of powdered sugar. For cookies 1/2 cup unsalted butter, at room temperature 1 cup packed light brown sugar 1 tablespoon molasses 1 large egg, room temperature 1 teaspoon vanilla 1 1/4 cups all-purpose flour 1/2 cup old-fashioned oats 3/4 teaspoon baking soda 1/2 teaspoon salt For filling 1/2 cup unsalted butter, at room temperature 3 cups powdered sugar 2 tablespoons heavy cream 2 teaspoons vanilla Pinch of salt Preheat oven to 325 degrees and line two sheet pans with parchment paper. In stand mixer outfitted with whisk attachment add butter, brown sugar and molasses and beat on low speed until combined. Gradually increase speed to medium-high and beat until smooth, about 2 minutes. Scrape down sides and bottom of bowl with spatula, then add egg and vanilla extract. Beat on medium-high speed until combined. Add flour, oats, baking soda and salt and beat on low speed until just combined and no streaks of flour remain. Use a 1/2 -ounce cookie scoop tor tablespoon measure to portion out equal amounts of dough. Roll the dough in your hands to smooth the edges, then place 2 inches apart on prepared pans. Bake until cookies have puffed up and are set and firm around the edges but still somewhat soft in the middle, 9-11 minutes. Remove sheet pans from oven and allow cookies to rest on the pans for 5 minutes, then use a metal spatula to transfer cookies to a cooling rack to cool completely. Once cookies have cooled, make filling. In stand mixer fitted with the paddle attachment, combine butter, confectioners’ sugar, cream, vanilla and salt. Beat on low speed, gradually increasing the speed to high, until creamy and fully incorporated, about 45 seconds. If filling is dry, add a small splash or two of cream. Assemble cookies. Using a small offset spatula or butter knife to spread about 2 tablespoons of filling onto the bottom side of one cookie, then place second cookie on top to sandwich. Repeat with remaining cookies and serve. Makes 16 sandwich cookies. —”Sweet Tooth” by Sarah Fennel (Clarkson Potter, $35) ©2024 PG Publishing Co. Visit at post-gazette.com. Distributed by Tribune Content Agency, LLC.