Canada Warns Careful Renegotiation of NAFTA; BBQ Food Prices Drop
**The Western Governors’ Association opened its summer meeting Monday by hosting two high-ranking Canadians who called for the U.S. to be careful renegotiating the North American Free Trade Agreement.
Canada’s ambassador to Washington, David MacNaughton, and Brad Wall, the premier of Saskatchewan, pointed out that Canada and the U.S. have both benefited greatly over NAFTA’s 23-year history.
Still, Wall says he fears leaders on both sides may have become “complacent” about the treaty, which has fostered a $1-Trillion a year trade relationship between the U.S. and Canada.
**Right in time for Fourth of July celebrations, a pair of reports show a drop in food costs for U.S. consumers.
On Monday, the American Farm Bureau Federation announced findings the cost of a summer cookout for ten dropped slightly from $56.06 in 2016 to $55.70 this year.
The fifth annual AFBF summer survey evaluates the cost of 14 popular food items at a cookout. The price drop is consistent with the USDA’s Economic Research Service May 2017 findings, which point out that grocery prices haven’t seen a price drop in almost 50 years.
**The Farm Credit System reports growth in loan numbers for Young, Beginning and Smaller Farmers in outstanding and new loans in 2016.
Some numbers at the Farm Credit Administration office show in the Corn Belt lower corn and soybean prices have made it more challenging for young, beginning and small farmers.
But, associate director Mark Johannson tells Brownfield they ARE seeing beginning farmers breaking into the business, many through poultry.