Good morning.
Cows—they're just like us. Including, as it turns out, their love for junk food.
Given the skyrocketing feed prices and long periods of drought these days, the steaks are high... and farmers are looking for alternatives to keep their herds well fed. And according to this list, cattle farmers could start looking outside the (feed) box and inside the... candy box?
Alternative feed sources include candy like gummy bears and chocolate (milk chocolate, obviously), bakery waste like stale donuts, and leftover potato chips or french fries.
Grazing time just got a lot tastier.
Stories:
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Trace Hudson @ Pexels / Magnetic Ag
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Farmland is a hot commodity… in an industry of literal commodities.
But lately, there’s less of it to buy, and everyone and their brother is in the market.
Long-term trend: For 15 years prior to 2016, the U.S. lost or compromised 2K acres of farm or ranchland every day—bringing a whole new meaning to Y2K.
That trend led to 11M acres no longer being farmable.
If the same happens between 2016 and 2040, an area roughly the size of South Carolina will be flipped from farmland to commercial and residential development.
Soundbite: "Nearly half of the conversion will occur on the nation’s most productive, versatile, and resilient farmland," said John Piotti, president of American Farmland Trust.
Farmland fuel: The ability to work from anywhere and high housing costs in metro areas could put the pedal to the metal on land lost to development.
And given that 40% of farmland in the U.S. is owned by folks over 65, in the next two decades, up to 370M acres of farmland are likely to change hands—or play into a developer’s hands.
Short-term sales: Land sale activity until the end of 2022 is expected to be high due to the red-hot farmland market.
Across the Midwest, farmland values are up 23% from a year ago, driven by:
- Rising grain prices
- Investor involvement in the market
- Borrowing strength and cash buyers
What now? Of particular concern is the impact of increasing farmland costs on beginning farmers.
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→ Starting the grain train (er… ship). After months of ships loaded with grain sitting in Ukrainian ports, stuck because of the war with Russia, Ukraine is finally preparing to start shipping out of the Black Sea thanks to a deal signed last week.
→ Agreena deal taking flight. Hummingbird Technologies, a remote-sensing startup in the UK, is being acquired by Agreena, the carbon market startup based in Denmark.
→ Rice on the rise. Researchers have boosted the yield of a specific Chinese rice variety by 40% by making a second copy of one of its genes.
→ Let the inputs in. Three major ag groups are calling for President Biden to lift tariffs on imported phosphate fertilizer from Morocco, a major producer, to reduce the "significant negative financial impact" on farmers.
→ Anthrax scare. After a decade without any confirmed cases in the state, anthrax has been confirmed in two herds of beef cattle in Colorado; both are under quarantine now.
→ Farmers fuel their anger. Producers in the Netherlands are protesting government plans to reduce fertilizer use and livestock numbers, and the results have been ugly: manure dumped on highways, along with hay set on fire, causing traffic congestion.
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There’s an avocado avo-lanche in Australia—a surplus of the produce, measuring 22 avocados per citizen.
How did they get so buried? The past growing season has significantly matured many trees in the Western Australia and Queensland areas in particular. And while there is an Aussie national oversupply, retail avocado prices are $1/avocado, a record low reported by Rabobank.
Aussie farmers increased their avocado tree acres between 2017 and 2019, so avocado production will only continue to increase.
In 2022, they’ll produce 124K tons of the spunky green fruit, up 30K tons from last year. While exports are up 350%, it’s still not enough for the country with lots of guacamole to spare.
In Asia, Australia faces stiff export competition from Mexico and South America. It has very limited to no access to Japan, China, and South Korea, who import the most avocados in Asia. This certainly presents some challenges to their predicted growth.
Zoom out:
- The U.S. produced 206,610 tons of avocados in 2020.
- The top three global producers are Mexico, the Dominican Republic, and Peru.
- The top three global consumers are the U.S., Mexico, and the Dominican Republic.
Takeaway: If you’re an Aussie, load up on the guac and avocado toast. There’s more than enough for everyone.
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Entrepreneurial Alert: The Final FoodBytes! Program of 2022 Has Arrived |
For their final scouting sprint of the year, FoodBytes! is actively seeking entrepreneurs that are reimagining the future of food and agriculture.
The focus of this final sprint is on the role of the worker and conditions of the workplace by introducing new technologies that create more from less, specifically working in the areas of:
- New Food Distribution: Developing new channels or methods that better match where consumers are and how they eat
- Novel Food Processing: Creating more nutritious, longer-lasting and/or more accessible food through novel processing methods
- Robotics & Manufacturing Automation: Utilizing technology to automate labor-intensive processes, reducing risk and loss in manufacturing and delivery
- Upcycling: Creating value-added materials or ingredients from waste streams or food byproducts
And you can't beat the benefits of joining a FoodBytes! cohort.
You can validate and grow your businesses through global industry exposure, tailored mentorship sessions, individualized strategic connections with corporates and investors, pitch refinement, and media visibility.
Supported by the vast global Rabobank network of investors and alumni, you'll be positioned to win from the startup starting line.
Amplify your impact through the FoodBytes! network today.
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Now that we're hungry for some chips and guac...
Let's do a little avocado trivia.
Avocado trees can live up to _____ years.
- 25 years
- 150 years
- 400 years
Answer at the bottom of the email.
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Pig Prediction and Fertility Funding |
Bacon, pork chops, ham, oh my!
These popular pork products are made possible through successful production (and reproduction) of pigs. Verility, an Indiana-based startup, aims to increase reproductive efficiency in swine through AI.
No, not that AI, the other one—artificial intelligence.
Pig prediction: According to Verility founder Liane Hart, conception rate is known to be highly correlated with producer profitability (more pigs, more profit). The Verility platform, Fertile-Eyez™ can accurately predict ovulation phase and sperm quality at the point of care. Fertile-Eyez™ is also smartphone-based to keep the technology cost-effective.
Sow Me the Money: After winning $100K in the Purdue University Ag-Celerator program, Verility closed a $3.5M Series A round led by Mountain Group Partners. The startup plans to use these funds to scale and commercialize its product for swine producers and breeders.
Collab-boar-ation: This technology was originally developed for use in humans by Brigham and Women’s Hospital, an affiliate of Harvard Medical School. Verility has licensed the intellectual property for use and development within the swine market.
Soundbite: "Producers are facing challenges from rising input costs and labor shortages only exacerbated by the pandemic. They need innovation like Fertile-Eyez to help them meet the important mission of producing animal protein in a sustainable way," said Dr. Rob Readnour, managing director at Mountain Group Partners.
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Written & Edited by Kelsey Faivre, Amelia VanLandegen, Aaron Dunajeski, Ashley Scoby, and Travis Martin
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