Agtech Action | Week of 04.11.20 - 04.17.20
Meat plant closures, and important remarks on food security and supply
Happy Friday from the safety and comfort of your home. There has been a lot of developing stories in agtech, agriculture in the past week that need our attention. At the top of that list is the closing, idling of over a dozen of meat plants throughout the US and Canada. Forgive me if I am putting a somber mood just when we were about to hit the down slope on the curve, but THIS IS A CRITICAL MOMENT IN AG and FOOD SUPPLY and SECURITY. Please read on and realize the gravity of the situation. Later in the newsletter, I share some press surrounding the Soy Innovation Challenge.
Food and the World:
Dairy organizations work to keep milk flowing
Chicken company to cull birds as processing capacity plummets
Brazil’s farmers see big soybean crops, record – high prices, record sales
JBS closes Greeley beef plant for cleaning (this needs to wake EVERYONE up on how fragile, susceptible our food supply chain is!!)
Update: JBS tells 6,000 beef workers to self-quarantine (this plant is an integral part of the meat supply chain in the US)
USDA’s first crop progress report shows 3% of corn planted
Cargill reduces beef production at Alberta plant as virus spreads
Distillers’ grains disappear as ethanol plants slow, half production
Dire crisis hitting pork industry as pigs back up due to COVID-19 (plant closures, falling hog prices and employee absenteeism due to COVID-19 are forcing pork producers to consider euthanizing hogs)
Smithfield Foods now largest coronavirus hot spot in US, CDC in Sioux Falls to investigate
How agtech helps China prepare for spring planting during coronavirus outbreak
‘Well, this really sucks,’ says Iowa pork President
Great American Revival Industry Groups are announced, check out the one for agriculture
A tour of a transformed Chinatown, where vital restaurants and grocery stores soldier on
Following the pandemic’s impact on the livestock industry
Agriculture in the News:
South Dakota Smithfield plant closes as hundreds of workers test positive for COVID-19 (pardon my language, but this is an OH $H!T moment)
What do plant closures mean to US food supply? (A hard look at their inventories)
What are farmers thinking about ag tech during COVID-19?
USDA addresses milk dumping & authorizes other flexibilities
Farmers and ranchers ready to meet increased food bank needs
Coronavirus could slash farm income by 19% (I personally think that is conservative)
Is the coronavirus pandemic related to meat production and consumption? Experts weigh in
Cattle industry losses estimated at $13.6B from COVID-19
USDA to buy as much excess milk and meat as possible, says Perdue
US Cattlemen’s Association releases estimate on economic impact of COVID-19
USDA releases temporary H-2A rule to hire farm workers
Released early to thwart COVID-19, ex-offenders confront hunger outside
Nearly 2M Delmarva chickens being killed, not processed amidst COVID-19 staffing shortage
Extension economist offers reassurances about meat supplies
One year of coronavirus relief could match 2 years of trade war aid
Helpful Resources:
Managing on-farm stress shouldn’t be ignored
New Childhood Agriculture Injuries fact sheet released
Fun:
Interesting Reads:
I harvest your food. Why isn’t my health ‘essential’? (interesting piece on farmworkers, laborers)
DoorDash, UberEats, GrubHub accused of charging ‘exorbitant fees,’ using ‘monopoly power’
Due to the coronavirus, junior livestock competition goes online
I run a butcher shop in PA, COVID-19 has transformed my business forever
Quarantine baking has caused a flour shortage, but not for the reasons you think (mmm, delicious banana bread!)
I’m a Whole Foods worker in Philly and I feel like I’ve been drafted for war
Scientists create a mutant enzyme that recycles plastic bottles in hours
Grocery stores turn to robots during the coronavirus
Finance:
CoverCress gets $5M in new financing for low CI crop development
Coronavirus: EIB to rethink use cases for €700M ag loan program
Domain Timber Advisors sells commingled funds’ forestry assets
Abu Dhabi invests $100M into 4 agtech firms
Nature’s Fynd eyes consumers and ‘other pathways’ following $80M Series B
Pipeline exits former SunOpta conventional agronomy unit
Coronavirus drawing venture capital to regenerative ag – Steward
Indian e-commerce agribusiness DeHaat closes $12M Series A
Crop Enhancement raises $8M Series B for CropCoat technology
CIBO launches farmland and regenerative ag data intelligence platform
I hope these articles make you realize how fragile, and susceptible our food supply chain. Within a few weeks, dozens of meat plants are closed or idle. Imagine that happening to your grain, wheat, dairy, vegetable and other food processing plants and supply chains. The stark reality of what could happen next: FOOD SHORTAGES, FOOD RATIONING. Let that sink in and then think about how you can help support, advocate for agriculture and the fine men and women that make it happen. I hope that this wakes us all up to issues like food security, access and sustainability.
As mentioned in prior newsletters, The Yield Lab Institute launched the Soy Innovation Challenge! In partnership with the United Soybean Board, the Soy Innovation is a non-dilutive startup accelerator program that identifies innovative soybean value chain-based product solutions and supports the most promising ones with business coaching, and entrepreneurial networking. You can find the official press release here and apply to the challenge here. Do not miss the application deadline of May 1st.
And the press for the Soy Innovation Challenge keeps coming! See here for an article in Agritech Tomorrow, here for an article in The Fence Post, here for an article in GAI Media and here for an article in Yahoo Finance.
If you would like to get involved or support the Yield Lab Institute initiatives, please email me at brandon@theyieldlab.com. Stay safe and wash your hands.
Brandon