3-4 min read

Introduction

Welcome to this edition of Daily Harvest. We've got some important updates and exciting news to share, including:

• Port Strike Alert: The U.S. agriculture sector is bracing for a potential strike that could disrupt supply chains.

• Market Highlights: Check out the latest prices and percentage changes for key commodities like cattle and corn.

• Tech Innovation: Learn about a new AI-powered citrus-harvesting robot making waves in farming.

• USDA Findings: Discover insights from the latest report on cotton consumption and stocks.

• Upcoming Events: Don’t miss the Western Seed Association Convention coming up soon!

News Roundup:

Ag braces for port strike 

The U.S. agriculture sector is on edge as a potential port strike looms. If dockworkers don’t reach an agreement by October 1, it could disrupt supply chains significantly, especially since 40% of U.S. containerized agricultural exports pass through these ports. Nearly 200 agricultural groups are calling on the Biden administration to step in and address these concerns. The situation is compounded by the upcoming expiration of the farm bill and ongoing issues with avian influenza.

Market Update:

Corn, Soybeans and Wheat are represented in bushels.*

Prices retrieved from TradingView

Tech Innovations:

Nanovel Secures $900,000 in Funding for Fruit-Harvesting Robot Development

The California Citrus Research Board has teamed up with Israeli company Nanovel to develop an innovative citrus-harvesting robot, supported by a $900,000 funding agreement. Set to begin field trials in spring 2025, this AI-powered robot aims to address labor shortages in farming. With telescopic arms and advanced vision systems, it selectively picks high-quality citrus fruit. The robot also collects real-time harvest data to help growers optimize their operations.

Research Findings:

Cotton System Consumption and Stocks Update (October 2024)

The USDA has just released its latest report on cotton consumption and stocks for August 2024, and here are the key takeaways:

What’s Happening with Cotton?

• Extra Long Staple Cotton:

  • Consumption: In August, we saw 631,000 pounds of extra long staple cotton used. That’s a 10% drop from July, but a huge jump of 217% compared to August 2023!

  • Stocks: At the end of the month, there were 484,000 pounds in storage, which is a slight decrease from July and down 56% from last year.

• Manmade Fibers:

  • Total Consumption: The total amount of manmade fibers consumed hit 21 million pounds in August, marking a 62% increase from July and a 25% rise from August 2023.

  • Polyester Staple: A big part of this consumption—93%—was polyester staple, highlighting its popularity in the market.

• Spindle Activity:

  • There were 753,000 spindles in use during August.

  • Active spindles using 100% cotton numbered 425,000, which is a slight increase from July but down 18% from August last year.

Checkout the article at USDA NASS for more information!

Upcoming Events:

Western Seed Association Convention: Oct. 27th-30th

The Western Seed Association (WSA) supports the seed industry by organizing conventions, offering scholarships, and creating networking opportunities. Their upcoming convention in October 2024 will connect industry professionals and celebrate contributions to the field. WSA provides valuable resources to its members, helping them stay informed and engaged.

Ending

Thanks for joining us for this edition of Daily Harvest! We’ve covered a lot of ground, from potential supply chain disruptions to exciting technological advancements in farming. Staying informed about these changes is crucial for all of us. In the next edition, we’ll cover more interesting topics that are going on in the farming world.

See you next time, and happy harvesting!

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