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A new report from the EU’s Copernicus Climate Change Service confirms that 2024 was the first year on record with a global average temperature exceeding 1.5°C above pre-industrial levels. All continents except Australasia and Antarctica experienced their hottest year on record, with 11 months of the year exceeding the 1.5°C level. Global temperatures have been at record levels – and still rising – for several years now. The previous hottest year on record was 2023. All ten of the hottest years on record have fallen within the last decade. But this is the first time a calendar year has exceeded the 1.5°C threshold.
The wildfires that erupted this week across Los Angeles County are still raging, but already are projected to be among the costliest natural disasters in U.S. history.The devastating blazes have killed at least 11 people and incinerated more than 12,000 structures since Tuesday, laying waste to entire neighborhoods once home to multimillion-dollar properties.While it's still too early for an accurate tally of the financial toll, the losses so far likely make the wildfires the costliest ever in the U.S., according to various estimates.A preliminary estimate by AccuWeather put the damage and economic losses so far between $135 billion and $150 billion. By comparison, AccuWeather estimated the damage and economic losses caused by Hurricane Helene, which tore across six southeastern states last fall, at $225 billion to $250 billion.
USDA provided a bullish 1 bu. per acre cut to soybean yield in Friday’s report which resulted in 90 million bu. being shaved off ending stocks. However, there are two big headwinds for the soybean market that may limit a rally moving forward. Joe Vaclavik, president of Standard Grain, says the biggest is a record soybean crop in South America. “The world situation is still kind of an anchor on the whole complex. You’ve got these big South American crops expected, big healthy global balance sheets for soybeans,” he says. USDA left production in the Southern Hemisphere unchanged in Friday’s WASDE but has Brazil pegged to produce a record 169 MMT soybean crop and Argentina at 52 MMT.
According to the Dairy Australia December 2024 report, dairy farm margins have been pressured by lower farmgate prices and higher operating costs, according to a recent market report from AHDB in the UK. Milk production in Australia grew during the 2023/24 season, supported by strong farm gate prices. 2024/25 volumes saw some year-on-year growth in the first half, but as the season progresses, a slight drop is expected overall, as dry weather conditions and tighter margins challenge further growth.While some input costs have decreased, dry weather conditions during the 2024/25 milk season contributed to a rise in fodder and water prices pressuring margins.Australian dairy has been well placed to capitalise on trade opportunities so far this season and has become more price competitive. Shipping challenges along other trade routes has improved the market for Oceania dairy, coupled with tighter milk supplies in the northern hemisphere. However, economic restraints in key importing countries, namely China, have persisted.The domestic market remains robust, though a rise in domestic retail prices may shift demand in the coming months.
German authorities confirmed the country's first outbreak of foot-and-mouth disease in nearly 40 years on Friday in a herd of water buffalo on the outskirts of Berlin, reported Reuters. Foot-and-mouth disease causes fever and mouth blisters in cloven-hoofed ruminants such as cattle, swine, sheep and goats.Measures to contain the highly infectious disease, which poses no danger to humans though they can transmit it, are being implemented, and the affected animals have already been euthanised, said local authorities.An exclusion zone of 3 kilometres and a monitoring zone of 10 kilometres have been set up, and no more products or animals may be taken out of these zones, said a federal agricultural ministry spokesperson at a regular government news conference.Local authorities are investigating how the animals became infected, but there are no plans for measures at the federal or international level, the spokesperson added.Germany and the European Union are officially recognised as being free of the disease. The last cases in Germany occurred in 1988, according to the FLI animal health research institute.The FLI said the disease occurs regularly in the Middle East and Africa, in many Asian countries and in parts of South America. Illegally imported animal products from these countries pose a threat to European agriculture, it said.
World Farming Agriculture and Commodity news - Short update -06 January 2025
According to the latest Eurobarometer survey, support for the EU's common agricultural policy (CAP) has reached an all-time high. The level of public awareness for the CAP is at its highest level since 2007, with 78% of respondents saying they are aware of the EU's common agricultural policy. Over 70% of respondents agree that the EU, through the CAP, is fulfilling its role in providing safe, healthy and sustainable food of high quality. This demonstrates a clear understanding and acute awareness of the key role EU agricultural policies play.Most EU citizens believe that the EU, through the CAP, is fulfilling its role in securing a stable supply of food at all times (81%). Furthermore, around seven in ten respondents believe that the CAP contributes to sustainable management of natural resources (72%), development of research and digital solutions to support agriculture and food sectors (71%), and strengthening the role of farmers in the food chain (70%). In addition, boosting investment and growth, and creating jobs in agriculture and food sectors (70%), helping to tackle climate change (70%), and ensuring reasonable food prices (69%) are also key contributions of the CAP, according to citizens. More than six in ten respondents also believe that the CAP helps reduce regional disparities (66%) and encourages young people to join the agricultural sector (63%).
A convoy of more than 30 slow-moving tractors, organised by farmers, took place on the A5 in Shrewsbury. The vehicles started at Halls Shrewsbury Livestock Auction Centre before driving repeatedly between the Dobbie's and Emstrey roundabouts in protest of changes to inheritance tax which were announced in the government's budget. "It's the end really, farming is on its knees already," said Alan Hughes, a farmer near Leintwardine. On Thursday Environment Secretary Steve Reed said he was "sorry" decisions had upset farmers but argued "stable finances are the foundation of the economic growth needed". I'm having to run two farm diversifications just to break even... any other industry would go mad if they were told you have to produce food at a loss and then run another business to pay yourself and feed your family," Mr Hughes said. We hope that there will be an abolishment of inheritance tax for all, not just farmers."
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