Latest / Kentucky Business News / 12.11.25

Transcript

12.11.25 · Kentucky Business News

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  Speaker 2: Hello.
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  Speaker 1: Today, I'll be reading from business sources in Lexington and Louisville,
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  including The Lane Report and others from around the Commonwealth.
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  Your reader today is Julia Shane. As a reminder, RADIOI
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  is a reading service intended for people who are blind
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  or who have other disabilities that make it difficult to
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  reprinted material. Our first article comes from the December ninth,
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  twenty twenty five edition of The Lane Report and is
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  titled FOXCONNN Technology USA Corporation investing one hundred seventy three
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  million dollars one hundred.
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  Speaker 2: Eighty jobs in Louisville.
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  Speaker 1: Manufacturing project will be Taiwan based company's first US manufacturing operation. Today,
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  Governor Andy Basheer announced even more job creation within the
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  state's advanced manufacturing sector, as Foxconn Technology USA Corporation FTCUSA,
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  the American subsidiary of Taiwan listed Foxconn Technology Company Limited,
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  will locate k its first US manufacturing operation in Louisville
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  with a one hundred seventy three million dollar investment that
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  will create one hundred eighty new Kentucky jobs. Fox Con
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  Technology Company is an independently listed company headquartered in New
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  Taipei City, Taiwan.
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  Speaker 2: The company is a.
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  Speaker 1: Global leader in precision parts manufacturing and electronic product assembly.
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  The company specializes in delivering high quality components and fully
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  assembled products to industries ranging from consumer electronics to industrial applications.
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  Kentucky's long successful story of working with international companies has
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  led to billions in economic investment and countless job opportunities
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  over the years, said Governor Basher. I want to thank
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  ftcusa's leadership for trusting in Kentucky to locate their first
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  operation in the United States and for creating one hundred
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  eighty new opportunities for our people to get the other
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  will see years of success in your new Kentucky home.
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  In response to changes in the global supply chain and
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  opportunities within the international advance manufacturing market, FTCUSA is set
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  to launch its next strategic initiative to establish the company's
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  first US manufacturing facility. The projects will include a state
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  of the art production system at the facility incorporating artificial intelligence,
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  Internet of Things IoT, and cutting edge computing technologies for
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  digitally driven operations. The new facility is expected to become
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  operational in the third quarter of twenty twenty six. The
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  United States has long been Taiwan's most important business partner,
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  providing invaluable support not only in technological innovation and transfer
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  and capital investment, but also in opening broad market channels
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  for Taiwanese enterprises, bringing long term, stable economic growth to Taiwan.
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  Ben Law, CEO of FTCUSA. Many members of ftcusa's management
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  team and workforce have previously studied or gained business experience
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  in the United States, and these valuable experiences have provided
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  essential nourishment for their professional growth and FTC's development. The
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  decision to establish manufacturing facilities and factories in the United
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  States demonstrates our commitment to continuing bilateral friendly relations and
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  reflects our focus on long term talent development and AI
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  manufacturing technology advancement opportunities. We aim to create a mutually
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  beneficial win win situation and establish a solid foundation for
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  sustainable growth. Louisville Mayor Craig Greenberg is excited to welcome
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  the company to the community. Louisville continues to show the
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  world that we're America's leader when it comes to the
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  future of manufacturing. This announcement is the res results of
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  strong collaboration across state and local partners.
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  Speaker 2: We're proud to.
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  Speaker 1: Welcome FTCUSA to Louisville and know this company will bring
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  good paying jobs to our community and opportunities for future growth.
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  Louisville has momentum and you can feel it with the
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  recent economic development announcements in our city. The word is
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  getting out that we are the best place to do business.
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  Louisville Economic Development Alliance CEO Trevor Paul noted the positive
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  impact the project will bring to the region. When a
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  company like FTCUSA chooses Louisville, it sends a powerful message
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  we're not just open for business, we're building the future
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  of it. This project brings advanced technologies like AI and
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  automation into a community that's already prepared to lead in
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  this space. It's a win for our workers, our economy,
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  and the future of American industry. And we're excited to
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  partner with FTCUSA and the Kentucky Cabinet for Economic Development
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  on this transformative investment. LG and E and KU President
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  John Crockett the Third highlighted the power of strong partnerships
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  and collaboration. This is an exciting time here in Louisville
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  and for Kentucky, as the interest in locating new and
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  expanding businesses continues to grow. We're thrilled to welcome FTCUSA.
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  It's another great example of how strong partnerships and affordable,
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  reliable energy are helpful fuel for Kentucky's economic momentum. We're
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  proud to power growth and opportunity in every community we serve.
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  Ftcusa's investment and job creation build on the best five
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  year period for economic growth.
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  Speaker 2: In state history.
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  Speaker 1: The next article from the Lane Report is titled UK
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  economists estimate Kentucky agribusiness sales of eight point three billion
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  dollars for twenty twenty five.
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  Speaker 2: Looking ahead, they.
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  Speaker 1: Foresee livestock strength strain in twenty twenty six. Strong cattle, poultry,
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  and horse sales dominated for much of twenty twenty five,
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  leading economists to predict Kentucky agribusiness sales will be eight
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  point three billion dollars for the year despite lower grain
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  prices burdened by supply outpacing demand. Will Snell, PhD, Extension
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  economist at the University of Kentucky Martin Gatton College of Agriculture,
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  Food and Environment, said that while final twenty twenty four
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  agribusiness cash receipts reported at seven point nine billion dollars
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  by the Economic Research Service in September, were slightly lower
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  than the previous year. Twenty twenty five receipts offer hope
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  for recovery and may rival the record high cash.
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  Speaker 2: Receipts in twenty twenty two.
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  Speaker 1: A challenging trade environment coupled with abundant global supplies had
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  an adverse effect on grain prices, but livestock prices left
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  Kentucky in a much better position. Snell said, for many
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  years the market share of livestock and crop sales was similar,
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  but the spread widened this past year considerably, with livestock
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  accounting for sixty five percent of projected sales in twenty
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  twenty five. Snell reported that the real story, however, is
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  the variability of net farm income. While we expect a
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  rebound in Kentucky net farm income from two point four
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  billion dollars in twenty twenty four to around three billion
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  dollars in twenty twenty five, this is largely due to
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  an increase in government payments and crop insurance proceeds, not
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  market strength on the crop side.
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  Speaker 2: Snell said, obviously.
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  Speaker 1: This will vary considerably from farm to farm and region
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  to region. In the state despite the influx of government payments.
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  A continued price cost squeeze will cause many of our
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  grain farmers to face serious financial stress heading into twenty
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  twenty six, row crop market slump continues, but hope is
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  in exports. Nearer record crop production and a third year
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  of depressed prices have Kentucky farmers facing another year of
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  diminished cash flow. Grain crop cash receipts are projected to
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  drop nearly twenty percent from two point nine billion dollars
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  to two point three billion dollars in twenty twenty five.
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  According to UK Extension grain economics specialist Grant Gardner, PhD
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  oversupply and lower exports are the driving factors. Another year
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  of near record grain production, both in the United States
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  and the rest of the world puts Kentucky producers in
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  a similar situation as last year, he said. Gardner pointed
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  to broader challenges posed by China's recent export cut. For
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  the past several years, China has bought nearly twenty five
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  percent of US soybean production, and the recent halt in
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  Chinese buying pushed soybean prices to unprofitable levels. With China's
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  recent purchase commitment soybean prices have increased a couple of points.
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  That's a big upswing, and anything moving forward is going
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  to be dependent on whether they fulfill those commitments.
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  Speaker 2: Gardner said.
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  Speaker 1: If they are, I could see prices get up to
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  about twelve dollars per bushel, and that could bring some
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  profitability to the soybean sector. Gardner does not expect corn
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  prices to change dramatically, estimating they will be between four
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  dollars and eighty cents and five dollars at peak next year,
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  but drop back to about four dollars and fifty cents
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  per bushel during harvest. Exports are unlikely to trigger large
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  price swings, and corn global weather is an unknown factor
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  that could result in much greater volatility. Jerry Pierce, coordinator
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  for the Kentucky Farm Business Management KFBM program, so the
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  economic outlook for grain crops is gloomy compared to a
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  few years ago. Commercial Kentucky crop farms have been profitable
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  over the last five years, but most of that income
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  came in the first three years.
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  Speaker 2: Pierce said, we.
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  Speaker 1: Were seeing the highest net farm income ever in twenty
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  twenty one, but now we've come to a cliff and
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  can't see the bottom. Pierce said that grain farms in
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  the KFBM program last year had an average gross income
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  of nine hundred dollars per acre, yet operating expenses averaged
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  eight hundred sixteen dollars per acre. Total operating expenses per
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  acre fell slightly, but gross revenue dropped considerably, driving profit
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  margins down.
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  Speaker 2: This pattern is projected to.
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  Speaker 1: Continue, Pierce said, and will likely impact future conversations with
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  farm lenders cattle, equine, poultry receipts. Growing livestock, equine, and
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  poultry income should account for a significantly larger share of
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  agricultural receipts in twenty twenty five, estimated at five point
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  three billion dollars, and demand is expected to remain strong
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  in twenty twenty six. Tight supplies have gotten a lot
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  of attention, particularly in the beef cattle world, said Kenney Birdine,
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  PhD UK Extension livestock economics specialist, but I also think
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  we've got to recognize how strong demand for proteins is
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  right now. Birdein said that beef and pork production have
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  been lower, but broiler production has picked up. As we
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  move through the year, we can ratchet up broiler production
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  very quickly. In a matter of weeks, where it takes
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  us years to increase beef production. Birdein said despite sharply
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  lower prices in the fourth quarter, the supply of cattle
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  remains tight, with the smallest US beef cow herd since
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  nineteen sixty one. Birdein said that twenty twenty five has
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  been a very strong year, with Kentucky cattle prices up
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  over twenty five percent through the first eleven months of
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  twenty two twenty five. While the last couple of months
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  have been frustrating, this is still a strong cattle market
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  and the supply fundamentals remain positive. Birdine said we will
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  see a slightly larger cow herd next year, but that
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  has primarily been driven by reduced cow slaughter. The dairy sector,
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  according to Birdine, experienced three solid years from twenty twenty
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  two to twenty twenty four, but twenty twenty five has
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  seen tightening margins with a modest fall in milk prices.
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  Higher production is expected, however, as cow numbers have increased.
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  Birdine said. The equine market has also been impressive, with
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  keenland sales up twenty three percent from twenty twenty four.
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  This will easily offset another decrease in Mayer's bread and
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  results in a significant increase in receipts. Birdine said the
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  strength in sales also has potential to impact stud fees
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  going forward and creates optimism for twenty five twenty six
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  tobacco working towards stabilization following a long downward trend in
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  tobacco receipts. Snell expects the value of tobacco production to
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  fall again in twenty twenty five, but could stabilize in
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  twenty twenty six at around two hundred million dollars compared
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  to more than eight hundred million dollars thirty years ago.
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  While cigarette sales in the United States continued to decline
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  at an accelerated rate, a short twenty twenty five burly crop,
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  coupled with recent cigarette export growth and tariff protection on
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  leaf imports, is providing some revitalized support for the waning
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  burly sector, sat Snell. Snell added that dark fired tobacco
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  has seen a third year of deep volume cuts as
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  the industry adjusts to the new smokeless market, where consumers
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  are switching to products like nicotine pouches and vapes that
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  do not use Kentucky dark tobaccos.
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  Speaker 2: However, dark tobacco in.
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  Speaker 1: Inventories are so slow that contract volume could stabilize or
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  increase modestly in twenty twenty six. Specialty crops surge past
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  tobacco sales. Specialty and horticulture crops showed substantial growth over
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  the last year, earning two hundred and ninety nine million
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  dollars in twenty twenty four, up thirty five percent over
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  twenty twenty three. Higher sales are expected for the coming year.
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  Tim Woods, PhD, UK, extension professor and faculty director of
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  the Center for Crop Diversification said that while Kentucky farm
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  gate cash receipts are difficult to estimate in the specialty
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  crop space due to more direct to consumer marketing, produce
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  auction reports provide a clear picture of industry growth. We
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  are continuing to see a significant expansion in pretty much
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  every sector of specialty crops. Wood said, fruits, vegetables, nursery,
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  greenhouse floriculture, cut flowers, on farm, retailing and farmers markets
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  and csays communities supported agriculture are continuing to expand. The
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  auctions have shown the biggest increase in overall sales by
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  far in twenty twenty five, even after a.
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  Speaker 2: Really difficult production year due to weather.
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  Speaker 1: Woods said high sales point not only to the strength
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  of market growth, but also to an interesting change occurring
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  on Kentucky farms. We've got a number of pretty decent sized,
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  fairly new produce operations that are moving into really large
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  scale fruit and vegetable production.
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  Speaker 2: Woods said.
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  Speaker 1: The biggest contributor to specialty crop sales is now coming
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  from controlled environment greenhouses. These firms focus on high value
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  crops such as tomatoes, strawberries, and leafy greens, and have
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  collectively contributed to just under one hundred million dollars in
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  sales above the produce grown in field or high tunnel settings,
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  a market that is benefiting from shrinking dark fired tobacco contracts.
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  Woods said twenty twenty four was the first time that
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  specialty crop sales in Kentucky actually outpaced tobacco sales. It's
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  certainly going to happen again this year, Woods said. Woods
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  projects income from nursery crops, floriculture and produce to be
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  firmly between three hundred and three hundred twenty five million
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  by year's end, as Kentucky improves its ability to supply
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  local markets lower prices, fewer markets impact forestry sector. Kentucky's
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  forestry industry continued to struggle in twenty twenty five as
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  log prices fell across all species due to global trade
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  disruptions and low domestic demand. Despite an estimated twenty billion
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  dollars in total economic impact, timber sales are expected to
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  generate only five hundred fifty two million dollars for loggers
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  and landowners this year, with similar trends expected for twenty
• 17:05
  twenty six. Prices for grade lumber logs remain generally lower
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  than last year, said Chad Nyman, UK forest products specialist,
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  noting that increased wages and contributions mask underlying market weakness.
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  Since twenty twenty two, at least seventy two sawmill or
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  wood manufacturing facilities have closed statewide. Nyman said white oak
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  saw the steepest price decline, down about twenty percent across
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  all log grades, driven by reduced stave log competition and
• 17:40
  lower lumber demand. In contrast, railway tie log prices have stabilized.
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  He said, this is a market that consumes a lot
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  of red oak, and some large companies are investing in
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  equipment upgrades, signaling cautious optimism for recovery by mid twenty
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  twenty six, Nyman said. Looking for another bright spot, Nyman
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  said he sees industry investment as a positive sign that
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  markets will begin to improve. He emphasized the importance of
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  developing outlets for low grade and residue wood to sustain
• 18:15
  forest health and expand lumber markets, especially as paper mills
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  and sawmills have closed. We need all wood markets in general,
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  but there is a need for more markets for lumber
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  where we have such a strong lumber production system, Nyman said.
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  One emerging opportunity is hardwood cross laminated timber celt for construction,
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  which could be used to build schools, public buildings, low
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  and high rise projects if production facilities are established in Kentucky.
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  Looking to twenty twenty six, Snell said livestock and roe
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  crop farmers will head into twenty twenty six with considerably
• 18:55
  different financial outlooks Row crop producers will likely contain need
• 19:00
  to face tight margins evolving from excess supplies, volatile export markets,
• 19:06
  and potentially declining government payments. Snell said, as the livestock
• 19:11
  sector remains relatively strong, coupled with some potentially modest recovery
• 19:15
  in grain, prices. Kentucky's agricultural cash receipts could approach eight
• 19:20
  point five billion dollars in twenty twenty six. Yet economists
• 19:25
  caution that trade and monetary policy decisions, along with unpredictable weather,
• 19:30
  remain wild cards, adding to the financial stress of many
• 19:34
  Kentucky farms. Input costs, driven by the outcome of interest
• 19:38
  rates and tariffs on imported farm inputs, may continue to rise,
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  Snell said, but we expect input prices to increase at
• 19:47
  a slower pace in the coming year. Snell concluded that
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  Kentucky agriculture will continue to benefit from a very diversified
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  farm economy, unlike the many states that depend on just
• 19:59
  a few hour agricultural enterprises. The next article comes from
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  the December six, twenty twenty five edition of Here Lexington
• 20:08
  and is titled Lexington. Kentucky faces allegations of overcharging residents
• 20:13
  and businesses for trash pick up. Residents and business owners
• 20:19
  have reported discrepancies in their waste collection bills, suggesting that
• 20:23
  charges may exceed the actual cost of services provided. These
• 20:27
  concerns have prompted calls for a thorough review of the
• 20:31
  city's billing practices and fee structures. Such scrutiny reflects the
• 20:36
  importance of transparent practices in preserving trust between the city
• 20:41
  and its constituents, a critical aspect for entrepreneurial growth and
• 20:46
  business sustainability. City's response and actions in response to these allegations,
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  city officials have initiated an internal audit to assess the
• 20:57
  accuracy of billing and to ensure that fees aligned with
• 21:01
  the services rendered. This proactive approach seeks to address any
• 21:06
  inconsistencies and to maintain transparency in the city's waste management operations.
• 21:13
  Ensuring accurate billing is essential to fostering a business friendly
• 21:16
  environment where local entrepreneurs feel supported and valued. Background on
• 21:22
  Lexington's waste collection services. Lexington offers waste collection services to
• 21:28
  both residents and businesses, including trash, recycling and yard waste pickup.
• 21:34
  Residents are provided with green roll carts for trash, blue
• 21:38
  roll carts for recycling, and gray roll carts for yard
• 21:42
  waste collection. Schedules vary depending on the area within the
• 21:46
  urban county region. For those without city waste collection services,
• 21:50
  there are convenient trash and recycling drop off locations available
• 21:54
  throughout the city. For businesses, the city provides dumpster services,
• 22:00
  with requirements based on the number of units and specific
• 22:03
  property characteristics. Dumpster services are subject to permit regulations and
• 22:09
  fees are assessed based on the size and frequency of collection.
• 22:13
  Such structures are designed to ensure that businesses can operate
• 22:16
  efficiently while adhering to community standards. Residents and business owners
• 22:22
  are encouraged to review their waste collection bills and report
• 22:25
  any discrepancies to the city Waste Management Department. The city
• 22:30
  remains committed to ensuring fair and accurate billing practices for
• 22:34
  all waste collection services, promoting a harmonious relationship between the
• 22:39
  government and its economic stakeholders. The next article from here
• 22:44
  Lexington is titled US stock markets near record highs amid
• 22:49
  rate cut expectations. On December third, twenty twenty five, US
• 22:55
  stock markets exhibited strong performance, pushing major indices to their
• 23:00
  all time highs. The S and P five hundred rows
• 23:04
  by zero point three percent, edging nearly to its previous
• 23:07
  peak set in late October, while the Dow Jones Industrial
• 23:11
  average increased by zero point nine percent and the Nasdaq
• 23:15
  Composite added zero point two percent. This momentum was fueled
• 23:20
  by mixed economic data that heightened expectations for a forthcoming
• 23:24
  interest rate cut from the Federal Reserve. The continued resilience
• 23:29
  of the market reflects the adaptability and innovation of American businesses,
• 23:35
  especially small enterprises, navigating a rapidly changing economic landscape. Lowering
• 23:41
  regulatory barriers can enhance this entrepreneurial spirit, allowing companies to
• 23:46
  thrive and contribute positively to local communities. Key market movements.
• 23:53
  The boost in the SMP five hundred was notably driven
• 23:55
  by advancements in the technology sector. Microchip Technology saw significant
• 24:01
  gains of twelve point two percent after announcing sales and
• 24:04
  profits that aligned with the higher end of its forecast.
• 24:09
  This performance was a testament to effective management and inventory
• 24:14
  reduction strategies led by its CEO. Additionally, Marvel Technology shares
• 24:20
  rows by seven point nine percent on a solid quarterly
• 24:24
  profit report and the announcement of a substantial acquisition aimed
• 24:29
  at bolstering artificial intelligence capabilities. Economic indicators, and investor sentiment.
• 24:36
  Investor sentiment was further buoyed by easing treasury yields following
• 24:42
  data indicating that US employers outside of government had potentially
• 24:46
  cut more jobs in November than they hired. This development
• 24:51
  amplified anticipation for a possible interest rate cut from the
• 24:55
  Federal Reserve, which typically encourages investment and economic growth. The
• 25:00
  yield on the ten year Treasury note dipped slightly from
• 25:04
  four point zero nine percent to four point zero six percent,
• 25:08
  signifying a shift in market sentiment global market reactions. Internationally,
• 25:15
  market reactions varied. Japan's Nikki two two five index stored
• 25:21
  by one point seven percent, supported by the potential for
• 25:25
  a US Federal Reserve rate cut and speculation regarding a
• 25:29
  rate increase from the Bank of Japan. Notable gains were
• 25:33
  also observed in Soft Bank Group Corporation, which climbed eight
• 25:37
  point eight percent as it reiterated its commitment to investing
• 25:41
  in artificial intelligence. Conversely, Chinese markets experienced declines due to
• 25:48
  reported weaknesses in factory activity, with Hong Kong's Hang Singh
• 25:53
  dropping one point one percent and the Shanghai Composite falling
• 25:57
  zero point three percent. Commodities and currency markets. Commodity markets
• 26:04
  saw moderate fluctuations, with oil prices increasing slightly, while bitcoin
• 26:09
  rebounded above ninety three thousand dollars after recent downturns. The
• 26:14
  US dollar experienced a minor rise against the Japanese inn
• 26:18
  while the euro decreased slightly to one point one six
• 26:22
  five nine, illustrating shifting dynamics in the foreign exchange market
• 26:28
  market outlook. As the Federal Reserve prepares for its next meeting,
• 26:33
  investors are closely watching economic indicators and corporate earnings reports.
• 26:38
  The persistent anticipation of a rate cut could have significant
• 26:42
  implications for various sectors, shaping investment strategies and economic policies
• 26:48
  moving forward. Frequently asked questions what is the S and
• 26:53
  P five hundred? The S and P five hundred is
• 26:56
  a stock market index that tracks five hundred of the
• 26:59
  largest publicly traded companies in the United States, serving as
• 27:03
  a benchmark for the overall US stock market performance. Why
• 27:08
  do interest rate cuts affect the stock market? Interest rate
• 27:12
  cuts can lower borrowing costs for businesses and consumers, potentially
• 27:17
  stimulating economic activity and boosting corporate profits, which can positively
• 27:22
  impact stocked prices. What is the significance of the ten
• 27:27
  year treasury yield? The ten year treasury yield is a
• 27:31
  key indicator of investor sentiment and economic expectations. It influences
• 27:36
  interest rates across the economy and is often used as
• 27:40
  a benchmark for other interest rates. How do global markets
• 27:44
  react to US economic data? Global markets often respond to
• 27:49
  US economic data due to the interconnectedness of the global economy.
• 27:55
  Positive US data can boost investor confidence worldwide, while negative
• 27:59
  data can have the opposite effect.