Deere & Co. Layoffs; Whitefly Found in Florida
This weekend Wall Street Journal reported that Deere & Company posted a strong earnings on the announcement that they will be cutting tractor and combine production after the fourth year of falling sales. By Monday afternoon word of the layoffs at two Iowa manufacturing plants surprised investors mere days after the reported profit .145 workers will lose their jobs, The decline in revenues coincides with the USDA’s Agricultural Outlook Forum projection in January of a $1.6 billion drop in net farm income, about 3 percent below 2015. Commodity prices in all major markets are all forecast to take substantial drops, giving producers less disposable income to upgrade their machinery.
Fruit and Vegetable growers are raising concerns over an invasive whitefly that is resistant to pesticides and carries crop-devastating viruses. The Q-biotype whitefly was found outdoors within the U.S. for the first time this spring in Florida. Its discovery outdoors comes more than a decade after it was first found in a U.S. retail nursery in Arizona It is considered a major invasive pest worldwide. Researchers say pest poses a serious threat to crops such as tomatoes, beans, squash, cotton and melons.
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