Missouri

Missouri’s farm income projected to drop in 2024 – Missourinet

Published

2 weeks ago

April 22, 2024

Missouri’s farm income projected to drop in 2024 – Missourinet

Missouri’s net farm income will likely drop 18% this year to $3.6 billion, according to the Spring 2024 Missouri Farm Income Outlook. Those numbers compare to an estimated 25% decrease in U.S. net farm income.

Scott Brown, the center’s interim director, told Missourinet that it’s not something to be alarmed about.

“In 2022, we had record farm income in Missouri at $4.9 billion,” he said. “It was a, generally, a really good time for a lot of our ag producers in this state. So, we’re really just coming off of those record highs. You know, if I went back to 2020, you only had farm income at $3 billion.”

The decline is due to reduced livestock inventories, lower crop prices, and declining market receipts.

“What we’re saying in 2024 is, yes, another dip – $3.6 billion,” he explained. “So, we’re coming off of what has been record farm income and, really, not returning all the way back to where we were in 2020. So, lower crop receipts, dry weather’s played a role in what we’re seeing today.”

Missouri’s crop receipts are estimated to see an 11% decline this year, while livestock receipts are expected to see a nine-percent reduction.

On the bright side, projections indicate an increase in Missouri net farm income for 2025 and 2026.

“We expect cattle prices to continue to move higher in 2025, in 2026, just given how tight supplies are going to be,” Brown said. “So, that’s a large part of what we’re seeing in terms of slightly higher farm income estimates, and we also see what’s going to be expenses that, hopefully, continue to decline.”

The center is projecting that production expenses will decrease by about 5% this year, but that prices for purchased livestock, seed, labor, taxes, and consumption will grow.

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Missouri

Southeast Missouri State appoints interim provost

Published

57 mins ago

May 3, 2024

Press Room

Southeast Missouri State appoints interim provost

CAPE GIRARDEAU, Mo. (KFVS) – Leaders at Southeast Missouri State University announced they have chosen an interim provost.

The university said Dr. Doug Koch has been appointed interim provost effective June 1 and Melissa Odegard has been appointed Interim Vice Provost and Dean of Graduate Studies effective August 1.

Dr. Koch will take over the duties of Dr. Michael Godard who is stepping into the role of president at Indiana State University.

Odegard will continue her chair duties over the summer as she provides additional support to Koch.

The university said their search for a provost will get underway within the next academic year.

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Missouri

Missouri Route 58 in Cass County closed due to flooding, MoDOT says

Published

8 hours ago

May 3, 2024

Press Room

Missouri Route 58 in Cass County closed due to flooding, MoDOT says

KANSAS CITY, Mo. — Missouri Route 58 was closed Thursday night due to flooding, the Missouri Department of Transportation said.

The closure stretched from Missouri Highway 7 to Locust Street in Pleasant Hill near the Cass County Public Library.

Police reported there was water over the road.

No word on how long the road would be closed.

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Missouri

Campaign to legalize sports betting in Missouri gets help from mascots to haul voter signatures

Published

15 hours ago

May 2, 2024

Press Room

Campaign to legalize sports betting in Missouri gets help from mascots to haul voter signatures

JEFFERSON CITY, Mo. (AP) — Missouri’s professional sports teams on Thursday turned in more than 340,000 voter signatures to put a ballot proposal to legalize sports betting before voters this November.

The campaign had help from Cardinals’ mascot Fredbird, Royals’ Sluggerrr and St. Louis Blues’ mascot Louie. The oversized bird, lion and blue bear waved enthusiastically as they hauled boxes filled with voter signatures to the Missouri Secretary of State’s Office in Jefferson City.

Republican Secretary of State Jay Ashcroft now must validate the voter signatures before the proposal officially makes it on the ballot. The campaign needs roughly 180,000 signatures to qualify.

A total of 38 states and the District of Columbia now allow some form sports betting, including 30 states and the nation’s capital that allow online wagering.

The Missouri initiative is an attempt to sidestep the Senate, where bills to allow sports betting have repeatedly stalled. Missouri is one of just a dozen states where sports wagering remains illegal more than five years after the U.S. Supreme Court cleared the way for states to adopt it.

Teams in the coalition include the St. Louis Cardinals, St. Louis Blues, Kansas City Chiefs, the Kansas City Royals, and the Kansas City Current and St. Louis City soccer teams.

The proposed constitutional amendment would allow each of Missouri’s 13 casinos and six professional sports teams to offer onsite and mobile sports betting. Teams would control onsite betting and advertising within 400 yards of their stadiums and arenas. The initiative also would allow two mobile sports betting operators to be licensed directly by the Missouri Gaming Commission.

Under the initiative, at least $5 million annually in licensing fees and taxes would go toward problem gambling programs, with remaining tax revenues going toward elementary, secondary and higher education. If approved by voters, state regulators would have to launch sports betting no later than Dec. 1, 2025.

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