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A new study by experts in the University of Georgia’s College of Agricultural and Environmental Sciences is seeking to increase the value of Georgia’s peanut crops for new markets while reducing losses caused by aflatoxin, a consistent threat to the No. 1 peanut-producing state in the United States.

The four-year, $490,000 grant will take a systems-based approach toward developing high-oil peanut varieties bred to withstand the unique climate and pest pressures of the Southeast. Funded by the U.S. Department of Agriculture National Institute of Food and Agriculture, researchers will determine at what point in the growing cycle peanuts are at their highest oil content to identify the best harvest time, develop management practices to help increase oil production, and examine the profitability of oil production under variables including drought, disease and market demand.

Assistant Research Scientist Nino Brown, a team of colleagues in the Department of Crop and Soil Sciences including Cristiane Pilon, Scott Monfort and Scott Tubbs, and senior public service associate Amanda Smith in the Department of Agricultural and Applied Economics will collaborate on research designed to give peanut producers expanded production options beyond the edible peanut market.

Combating the threat of aflatoxin

The study’s goal is to assess the potential for Southeastern peanut growers to participate in the global peanut oil market, including the harvest of aflatoxin-contaminated edible peanut crops and the intentional planting and management of high-oil varieties bred to perform in the Southeast.

The domestic peanut oil market is currently small. Most peanut oil used in the U.S. is imported from countries including China, Africa, South America and India. While most of the peanut production in the U.S. is slated for the edible market — think peanut butter, roasted snacks and confectionary use — a percentage of U.S. peanut production goes toward oil production if a harvested load or field exceeds the aflatoxin threshold for the edible market.  

In 2019, aflatoxin — a poisonous substance produced by the fungi Aspergillus flavus and Aspergillus parasiticus — was responsible for an industry-wide yield loss of 24% in Georgia. In 2021, Georgia farmers produced approximately 52% of the peanuts produced in the country, harvesting more than 3.3 billion pounds of peanuts.

“Our peanuts are primarily for the edible market, which is of higher value, but if a trailer or semi-load of peanuts comes in from the field and aflatoxins are above a certain level, they are sent for oil crushing,” said Brown, adding that aflatoxin is removed during the oil extraction process.

Expanding oil markets

While peanut oil is currently considered a backup market for peanut producers in the U.S., there is a large global market for the product.

“Most peanuts grown internationally are grown for oil, about 60% percent,” Brown said. “Domestically, we pay a premium for peanut cooking oil, which garners one of the highest per gallon prices for vegetable oils, yet we are importing it. It doesn’t make sense. There is a really big market for peanut oil that U.S. producers are currently not taking advantage of. The market for edible peanuts seems like it has reached a limit — it might be as high as consumption is going to go.”

Breeders can easily develop high-oleic varieties, which have a longer shelf life and are better for cooking. However, lower oleic acid varieties seem to be better for producing biofuels, Brown added.

“Peanut oil makes a very good biofuel. With the airline and auto industries trying to decrease fossil fuel consumption, peanut oil would be a great way to offset that. We can likely produce 200 to 300 gallons of oil per acre,” he said.

Because edible peanut demand and prices appear to have leveled off, evaluating the potential use of peanuts for oil production is one way to ensure the sustainability of the peanut industry in Georgia. They will do that by maximizing oil production, finding better production strategies for dryland peanuts, and focusing on breeding to increase the oil percentage in new peanut varieties.

Brown explained that although growers can produce a lot of oil using current edible varieties, they need varieties specific to oil production to capitalize on the oil market. “That way we can play both sides of the game, and edible peanuts that are discarded due to aflatoxin can still be used for oil, but we will also have varieties specifically for oil production,” he added. These varieties could be planted on land that has a history of high levels of aflatoxin or limited ability for irrigation.

Boosting peanut value

The impetus for this project has largely been grower-driven.

“The Georgia Peanut Commission and the National Peanut Board have been asking us to start working on this to give our growers more options,” Brown added. “If we know a variety or a field is not going to be used for edible production, we can change some inputs and management practices to gear it more toward lower input costs. Production costs have gotten out of control and the price of peanuts has not tracked with production costs. Prices are flat. By diverting some of those acres to oil production, it may increase the demand and price for edible peanuts.”

As climate risks such as more frequent and severe droughts become more prevalent, developing varieties for oil production that are suited to the region could be a boon for producers.

“In 2019, about 30% of all edible peanuts were rejected due to aflatoxin, a loss of about $126 million,” Brown said. “This research will help us to be prepared for those situations in the future and to protect our growers against drought and aflatoxin to produce more oil per acre and contribute to the biofuel economy. It is a multi-pronged approach to address a multi-faceted problem.”

To learn more about CAES research and the communities it benefits, visit caes.uga.edu/research.

 Home shoppers are looking at more options to choose from this fall as the number of homes for sale sits at the highest level since May 2020 and rates are poised to start coming down. The number of homes actively for sale grew by 35.8% in August, the 10th straight month of growth, according to the Realtor.com^® August Housing Trends Report. At the same time, home sellers pulled back, with -0.9% fewer newly listed homes on the market compared with last year.

“In April we noted that rising for-sale inventory was likely to lead to more balance between buyers and sellers. This August, as the number of homes on the market continues to climb, price cuts are more common, asking prices are moderating, and homes are taking longer to sell. The widely anticipated Fed rate cut has already ushered in lower mortgage rates, but it seems that some buyers and sellers are waiting for additional declines,” said Danielle Hale, Chief Economist at Realtor.com^®. “As the market slows seasonally, fall is one of the best times to buy a house. Falling mortgage rates are likely to bring out additional home shoppers and a busier fall season than usual, but the boost in activity is unlikely to overwhelm the usual seasonal slowdown. Shoppers, who are out this fall, are likely to face lower competition than is expected in spring 2025 as more shoppers anticipate better mortgage rates.”

The median price of homes for sale this August decreased by 1.3% compared with last year, at $429,990, however, the median price per square foot grew by 2.3%, indicating that the inventory of smaller and more affordable homes continues to grow in share. Homes spent 53 days on the market, the slowest August in five years.

August 2024 Housing Metrics – National

Inventory continues to grow

There were 35.8% more homes actively for sale on a typical day in August compared with the same time in 2023, marking the tenth consecutive month of annual inventory growth and the highest count post-pandemic. This is a slight deceleration from July, which was up 36.6% year-over-year. This is the second consecutive month where the rate of growth has decreased from the prior month. While inventory this August certainly continues to improve, it is still down 26.4% compared with August 2019 levels. This is a slight improvement from last month’s 28.7% gap.

Continued growth in affordable homes for sale

In August, as in the previous six months, the growth in homes priced in the $200,000 to $350,000 range outpaced all other price categories, as home inventory in this range grew by 46.1% compared with last year and is only down slightly from last month (47.3%). This increase continues to be driven by a greater availability of smaller and more affordable homes in the South.

Just like buyers, sellers pulled back this August as newly listed homes were 0.9% below last year’s levels, a reversal from gains in new listings seen in July (8.4%) that breaks a nine month streak of increasing listing activity. The sharp decrease in mortgage rates seen in mid-August could lead to an increase in listings in the coming months as lower rates begin to entice the marginal homeowner to sell.

Days on market reaches five year high

The typical home spent 53 days on the market in August, an increase of seven days from a year ago. It was the slowest August in five years, though time on the market was still six days less than the pre-pandemic average for August. Homes are spending more time on the market in all regions, led by the South (nine days longer), and followed by the Midwest (three days) and the West and Northeast (two days).

“We have found that the market slows by about one day for every 5.5 percentage point increase in the year-over-year number of active listings,” said Ralph McLaughin, Senior Economist at Realtor.com^®. “Given the rapid growth in inventory we’re seeing now, that can mean changes in some markets of up to 15-20 more days on the market than last year.”

Price reductions become more common

As the number of active listings and days spent on the market grew, the percentage of homes with price reductions also increased in August to 19.2%, up 3.0 percentage points from last August. The share of price reductions rose in all regions, led by the West (+ 3.5 percentage points), and followed by the Midwest (+3.3 percentage points), the South (+2.8 percentage points) and the Northeast (+2.0 percentage points).

Median list price falls, but price per square foot continues to grow

The national median list price fell 1.3% to $429,990 in August compared to last August at the same time the median listing price per square foot rose 2.3% compared to last August, as the inventory mix shifted toward smaller homes. Compared to August 2019, the typical listed home price grew by 36.2% while the price per square foot rose by 51.0%.

South and West are closest to bridging pandemic era inventory gap

All four U.S. regions continued to see active inventory growth compared with August of last year; however, inventory in the South and West has recovered the most compared to pre-pandemic inventory levels.

For August, active listings grew by 46% in the South, 35.7% in the West, 23.8% in the Midwest and 15.1% in the Northeast. The South’s inventory gap was the smallest compared to pre-pandemic levels, with inventory down 12.2% in August compared to the typical August in 2017-19. Inventory was 16.6% lower in the West, 44.9% lower in the Midwest, and 54.5% lower in the Northeast compared with pre-pandemic levels.

Of the 50 largest metro areas, just 11 had higher levels of inventory in August compared with pre-pandemic levels, including Austin,Texas (+36.6%), Memphis, Tenn. (+28.7%) and San Antonio (+25.2%).

Additional details and full analysis of the market inventory levels and additional trends in listing prices and more can be found in the Realtor.com® August Monthly Housing Report.

August 2024 Housing Overview of the 50 Largest Metros 

 

The Carter Center is proud to announce new additions to the star-studded lineup for Jimmy Carter 100: A Celebration in Song. Angélique Kidjo, BeBe Winans, Carlene Carter, Duane Betts, India Arie, Lalah Hathaway, and The B-52s, along with Academy Award-winning actress Renée Zellweger, will join the cast of musicians and special guests celebrating the 100^th birthday of our longest-living U.S. president, Jimmy Carter.

The event, presented by Delta Air Lines, takes the stage at Atlanta’s Fox Theatre on Sept. 17, 2024, and promises to be an evening of unforgettable performances and surprise guest appearances. Tickets to the historic event are available at FoxTheatre.org/JimmyCarter100.

Artists joining Chuck Leavell, D-Nice, Drive-By Truckers, Eric Church, GROUPLOVE, Maren Morris, The War And Treaty, and The Atlanta Symphony Orchestra Chamber Chorus for the eclectic event are:

• Angélique Kidjo, legendary singer from Benin, five-time Grammy Award winner, and “Africa’s premier diva,” according to TIME

• BeBe Winans, six-time Grammy Award-winning singer, songwriter, and actor

• Carlene Carter, a country music legend in her own right and daughter of June Carter Cash

• Duane Betts, an acclaimed songwriter, guitarist, and vocalist celebrated for bringing a fresh perspective to his Southern rock lineage as the son of legendary Allman Brothers Band co-founder Dickey Betts

• India Arie, a soulful singer-songwriter and four-time Grammy Award winner

• Lalah Hathaway, a one-of-a-kind vocal talent and five-time Grammy Award winner

• The B-52s, an iconic American rock band formed in Athens, Georgia, known for their eclectic new wave style and hits like “Love Shack” and “Rock Lobster”

“I couldn’t be more delighted to have been asked to take part in this event honoring President Carter,” said Carlene Carter. “When my mother, June Carter, and her husband, Johnny Cash, went to visit him at the White House, I was pretty jealous, as I thought so highly of him even back then. Both he and June had suggested more than once that we were, in fact, kin, and the fact that both he and mom had that Carter ‘sparkle’ makes me think that they were related. When Jimmy Carter was our president, it was evident to me that he only wanted the best for our country and for all humankind. I look at him as a very special, spiritual soul, so when people ask if we’re related, I always respond, ‘I hope so.'”

Mary Wharton, renowned director of the documentary “Jimmy Carter: Rock & Roll President,” will also present a short film that explores President Carter’s personal relationship with popular musicians and highlights how music plays a role in breaking down barriers.

The poster art for the concert was created by Atlanta-based Fabian Williams and will be available at the event. Known for his powerful artwork that addresses social issues, Williams’ art focuses on themes of justice, civil rights, innovation, and joy.

“I’m thrilled and honored to be able to create a work for Jimmy Carter — a person who has devoted his whole life to humanitarian issues, working to make the world a more fair and better place,” said Williams. “I look to President Carter as an example of how to use my talent to better my fellow brothers and sisters, regardless of demographic, race, or way of life.”

Jimmy Carter 100: A Celebration in Song, presented by Delta, is also sponsored by The Atlanta Journal-Constitution, both strengthening the Carter Center’s mission of advancing peace and health initiatives worldwide.

Concert Details:

“Jimmy Carter 100: A Celebration in Song,” hosted by The Carter Center and presented by Delta Air Lines, will take place at 7:30 p.m. Tuesday, Sept. 17, at the Fox Theatre in Atlanta. Tickets are $100 (excluding taxes and fees) — in honor of Jimmy Carter’s 100th birthday — and are available at FoxTheatre.org/JimmyCarter100. Proceeds from the event will support The Carter Center, continuing Jimmy and Rosalynn Carter’s work to promote peace and improve health around the world. The event will be executive produced by the award-winning team at ROK Productions and Diversified Production Services (DPS), with Elizabeth Kelly and Carly Vaknin serving as executive producers.

A further celebration of President Carter’s milestone birthday is the crowd-building of a new digital mosaic from images, videos, and messages sent in by the public. Add yours at CarterCenter.org/JimmyCarter100.

The Georgia Historical Society (GHS) invites the public to a special evening honoring acclaimed journalist and author Steve Oney, who will be inducted as the 2024 Vincent J. Dooley Distinguished Teaching Fellow. This prestigious event will take place on Thursday, September 12, at 7 p.m. at Congregation Mickve Israel, located at 20 E. Gordon Street on Monterey Square in Savannah.

This event is free and open to the public.

The induction ceremony will be followed by an engaging discussion between Steve Oney and Dr. Stan Deaton, Senior Historian and the Dr. Elaine B. Andrews Distinguished Historian at the Georgia Historical Society. Attendees will hear about Oney’s career in journalism, the painstaking research for his award-winning book on the notorious Leo Frank lynching, including how he identified many of those who participated in Frank’s kidnapping and murder, and his new book about the personalities and history of National Public Radio.

Steve Oney is an award-winning author and journalist, best known for his groundbreaking book, And the Dead Shall Rise: The Murder of Mary Phagan and the Lynching of Leo Frank (Pantheon, 2003). Oney is also the author of A Man’s World: A Gallery of Fighters, Creators, Actors, and Desperadoes (University of Georgia Press, 2019), a collection of twenty profiles of fascinating men written over Oney’s 40-year career for leading publications like Esquire, Premiere, GQ, TIME, and the Atlanta Journal-Constitution Magazine. His next book, On Air: The Triumph and Tumult of NPR, will be published by Simon & Schuster in 2025.

His distinguished career has earned him numerous accolades, including the American Bar Association’s Silver Gavel Award, the Southern Book Critics Circle Prize, and the National Jewish Book Award. Oney’s work has been featured in prestigious anthologies such as The Best American Magazine Writing 2008 and The Best American Sports Writing 2006. He holds degrees from the University of Georgia and Harvard University, where he was a Nieman Fellow.

Dooley Distinguished Teaching Fellows are national leaders in the field of history whose research has significantly shaped public understanding of the past. In addition to their scholarly achievements, Fellows have served the Georgia Historical Society through teacher-training seminars, as lecturers, and as consultants. Previous Dooley Teaching Fellows include Pulitzer Prize-winning authors Annette Gordon-Reed (2022), Rick Atkinson (2019), and David Blight (2018).

Copies of Steve Oney’s books will be available for purchase at the event, with a signing session following the program.

For more information about the Vincent J. Dooley Distinguished Fellows Program, or the Georgia Historical Society, please contact Christy Crisp, Vice President of Education and Programs, at 912.651.2125, ext.117, or by email at ccrisp@georgiahistory.com.

Atlanta Ronald McDonald House Charities (ARMHC), in partnership with Athens BMW, Global Imports BMW, BMW of Gwinnett Place, Nalley BMW of Decatur, BMW of South Atlanta and United BMW, launched its 2024 BMW Raffle in support of families with sick or injured children who rely on the Atlanta Ronald McDonald Houses. In its 17th year, the highly anticipated fundraising event has raised nearly $3 million and offers participants the opportunity to win high-performance luxury cars and other exclusive prizes while contributing to a local cause. All proceeds raised will benefit ARMHC’s mission of expanding access to quality healthcare to families with children battling life-threatening diseases and illnesses.

The 2024 BMW Raffle prizes feature:

• GRAND PRIZE: Winner’s choice of a 2025 BMW X2 xDrive28i, 2025 BMW i4 eDrive35 or 2025 BMW i5 eDrive40.

• SECOND PRIZE: The BMW 101 Experience, including a weeklong test drive in a BMW of the winner’s choice (based on availability) with food and beverage and hotel accommodations at the BMW Performance Center.

• THIRD PRIZE: Stock the Bar Gift Set, including premium spirits and a bartender’s dream book.

“I am incredibly proud of our Atlanta Area BMW Dealers and their sponsorship of the Atlanta Ronald McDonald House Charities,” said Curtis Snyder, BMW of North America Regional Marketing Manager. “This partnership is not just about giving back; it’s about standing by families during some of the most challenging times of their lives. When children are facing medical crises, the comfort and support of family can be a crucial part of the healing process.

“Our sponsorship ensures families have a welcoming place to stay, meals and a supportive environment, so they can focus on what matters most – the well-being of their child. Personally, it means a lot to be part of an organization that prioritizes compassion and community, reflecting the values that drive us at BMW every day,” added Snyder.

To date, the BMW Raffle has raised $2,768,691. In 2023 alone, proceeds provided over 1,600 nights of rest for families staying at the two Atlanta Houses.

“This longtime partnership with BMW has been critical in amplifying ARMHC’s impact and mobilizing the Atlanta community to support our cause,” said Tracey B. Atwater, President & CEO of Atlanta RMHC. “We are proud of the traction this raffle has gained over the past 17 years, and this year’s proceeds will be especially instrumental as we build our new House next to Children’s Healthcare of Atlanta’s Arthur M. Blank Hospital.”

Tickets are $100, with bundles ranging from $200 to $2,000. Only 3,000 tickets are available and can be purchased now through Wednesday, Nov. 6, at 11:59 p.m. To buy tickets and enter the raffle, visit armhc.org/bmwraffle/.

 

Create Better Tour and Travel Packages

Improving Your Agency Tours and Packages The tour and travel package sector has been strong for two years now. Travel agencies are doing well. Competition however is increasing as eager entrepreneurs sense the opportunity. However, as the competition for travelers increases and as old sightseeing tours become too mundane for repeat travel buyers, your agency…

The unemployment situation in New York recently improved, with last week’s claims 6.82% lower than in the previous week but still 1.62% higher than last year, according to WalletHub’s updated rankings for the States Where Unemployment Claims Are Decreasing the Most. 

Unemployment Situation in New York (1=Best; 25=Avg.):

• Overall Rank for New York: 30^th

• 20^th – Unemployment Claims Decrease vs. Previous Week

• 27^th – Unemployment Claims Decrease vs. Same Week Last Year

• 17^th – Cumulative Unemployment Claims in 2024 vs. Same Period Last Year

• 44^th – Unemployment Claims per 100,000 People in Labor Force

To view the full report visit wallethub.com

Do you think the hiring dynamic is currently tilted in the employees’ favor?

“I do not think we can draw this conclusion, as it depends on many factors. For example, if we look at the medical industry, where we often see a labor shortage, the hiring dynamic is often tilted in the employees’ favor; however, for service industries that require relatively low-skilled labor, the hiring dynamic is often tilted in the employer’s favor. High-skilled labor, in general, has more leverage in the labor market as they are in higher demand. At the same time, how flexible workers are matters. Those who insist on working in a specific area or during certain periods of the day make the hiring dynamic tilt in the employers’ favor.”
Ying Zhen, Ph.D. – Professor; Economics Program Director, Wesleyan College

“As of 2024, the hiring dynamic is still generally tilted in favor of employees, though the situation varies by industry and region. The U.S. labor market remains tight, with unemployment claims at relatively low levels, indicating that jobs are still plentiful, and layoffs are not widespread… The unemployment rate has remained low, which means there are fewer job seekers relative to the number of job openings. This gives employees more leverage in negotiations over wages, benefits, and working conditions… To attract and retain talent, companies have been offering higher wages, better benefits, and more flexible work arrangements. This is especially true in industries facing labor shortages, such as healthcare, technology, and hospitality… There is a growing mismatch between the skills that employers need and those that many job seekers possess. This has led to strong competition for workers with in-demand skills, further tipping the scales in favor of employees… The demand for remote and hybrid work arrangements remains high, and many workers now prioritize flexibility when considering job offers. Companies that fail to offer these options may struggle to attract and retain top talent. However, it is important to note that certain sectors may not experience this dynamic as strongly. For example, industries undergoing technological disruption or facing economic uncertainty might see more balance or even a shift in favor of employers. Overall, while the market continues to favor employees, there are signs that this dynamic could evolve as economic conditions change.”
Andrew Burnstine, Ph.D. – Associate Professor, Lynn University

With inflation still higher than average, what is your advice for people looking to protect their finances?

“Forming the habit of saving in order to pay off debts is crucial. Refinancing your debts, such as student loans, to secure a lower rate might be a good idea as well. Also, if you are making investments, buying a diversified portfolio is the rule of thumb to spread the risk of inflation.”
Ying Zhen, Ph.D. – Professor; Economics Program Director, Wesleyan College

“When inflation is higher than average, it can erode the purchasing power of money, making it essential to take steps to protect your finances… Monitor your spending closely and adjust your budget to prioritize essential expenses while cutting back on non-essentials… Consider investing in stocks, real estate, and Treasury Inflation-Protected Securities (TIPS) to help your money grow faster than inflation… Negotiate for a raise or explore additional income streams, such as freelance work or a side business, to keep your income in line with rising costs… Focus on paying off high-interest debt and consider refinancing variable-rate loans to fixed-rate options to protect against future interest rate increases… Maintain an emergency fund in a high-yield savings account to ensure you have cash readily available for unexpected expenses. By implementing these strategies, you can better protect your finances from the erosive effects of inflation. Staying proactive and informed will help you maintain your financial stability and purchasing power in an inflationary environment.”
Andrew Burnstine, Ph.D. – Associate Professor, Lynn University

What are your predictions for the job market as we move forward during 2024 (job gains, hiring confidence, quit rates, etc.)?

“According to the data, the unemployment rate remains relatively low, and employment growth remains positive in 2024. Therefore, there are no unforeseen challenges in the job market in terms of hiring confidence and quit rates as we move forward during 2024. However, as the economy has been in the post-pandemic era for more than a year, employment growth will be at a slower pace than last year. Health care, leisure and hospitality, and government industries remain significant drivers of job growth.”
Ying Zhen, Ph.D. – Professor; Economics Program Director, Wesleyan College

“In the 2024 U.S. Jobs & Hiring Trends Report, experts caution that, while the economic outlook for 2024 is largely positive, whether five trends maintain or accelerate their momentum will directly influence labor market stability throughout the rest of the year… High employer demand for workers will need to continue, either through elevated job postings or worker hoarding… More prime-age workers need to enter the workforce to counteract the long-term drag of an aging population… Quitting will need to maintain its current pace, which is consistent with pre-pandemic rates, though elevated by historical standards… To ease concerns about the labor market fueling inflation, nominal wage growth will need to continue to decrease – but not too much. For workers to maintain and increase purchasing power, wage growth cannot fall below the rate of inflation… Generative AI tools will spread rapidly through the economy, boosting productivity growth and fundamentally changing the labor market.”
Andrew Burnstine, Ph.D. – Associate Professor, Lynn University