Wednesday February 2 Ag News

 Ag Estate Planning Workshop Set for Wayne, Seward

Nebraska Extension has scheduled estate planning workshops for farmers and ranchers in Wayne and Seward in March.

The in-person workshop will be presented by Allan Vyhnalek, an extension educator for farm and ranch transition and succession. He will offer tools and strategies to effectively plan, start and complete estate plans, offer background on common mistakes during the process and highlight essential considerations for creating and carrying out estate and succession plans.

“The common mistake is that most know that they need an estate plan, but never get around to putting a plan into a legal document,” Vyhnalek said. “Over several years, at the end of the workshop, the most common comment is that the participants wished that they had started learning the steps to start and complete a plan sooner.”

It will be hosted in Wayne from 1 to 3 p.m. on March 3 at the Volunteer Fire Department, 510 Tomar Drive. Registration is requested by March 2 at 402-375-3310.

The workshop in Seward will be held from 1:30 to 3:30 p.m. on March 8 at the office of Nebraska Extension in Seward County, 322 S. 14th St. Registration is requested by March 7 at 402-643-2981.   

More information about Nebraska Extension’s resources related to estate planning and succession planning for farmers and ranchers is available on the University of Nebraska-Lincoln’s Center for Agricultural Profitability’s website, https://cap.unl.edu/succession.




Agricultural Land Management Quarterly

The Center for Agricultural Profitability’s Agricultural Land Management Quarterly webinar series offers management advice and insight for Nebraska landowners, agricultural producers and others with an interest in agricultural land. The webinars will conclude with an “Ask the Experts” session where participants can get answers to their land or lease questions.

Recent Trends in Nebraska Cash Rental Rates
-Trends in cash rents for 2021-2022
-
Updating Agricultural Leases for the 2022 Production Season
-Considerations for landlords and tenants entering the new growing season
-Aglease101.org- free lease resources

Ask an Expert
-Review of submitted questions and from meeting participants
-Upcoming land management workshops and publications

Presenters
Jim Jansen, Agricultural Economist, University of Nebraska-Lincoln
Allan Vyhnalek, extension educator, University of Nebraska-Lincoln.

Register here: https://cap.unl.edu/land-management-quarterly-webinars.



New paper addresses importance of reliable broadband service, connectivity options

As state and local officials across the country consider bills addressing broadband service and decide how to allocate funding received through the federal American Rescue Plan Act, a new white paper from the Center for Rural Affairs offers ideas and solutions for improving access in rural areas.   

Molly Malone, senior policy associate for the Center, and author of “Access Granted: Rural Broadband Options, Obstacles, and Solutions” said broadband access is a topic of discussion in rural communities across the country and has only been exacerbated by the COVID19 pandemic.  

“It’s an issue for everyone in one way or another, whether directly or via grandkids who struggle to connect to classes, employees who drop out of Zoom meetings, or simply an inability to look up a recipe on Google,” she said.  

Malone said broadband access is no longer a matter of convenience and entertainment, but overall quality of life.

“Broadband is core infrastructure,” she said. “ Without it, people cannot participate fully in our economy and society. If service is unavailable, unaffordable, unreliable, or weak, or has a long lag time, it can affect the viability of a community.”

Using examples, such as education, health care, economic development, and agriculture, the paper addresses the importance of reliable service, as well as connectivity options.

For more information or to view “Access Granted: Rural Broadband Options, Obstacles, and Solutions,” visit cfra.org/publications.



Senate Tax Proposal Benefits Iowa Soybean Farmers, Natural Resources
Robb Ewoldt, President, Iowa Soybean Association

“The recent tax proposal being considered in the Iowa Senate, also known as SSB 3074, would secure much-needed funding to improve, protect, and enhance the state’s natural resources and recreational opportunities for generations to come.

“The Iowa Soybean Association (ISA) supports this proposed legislation, specifically Division 23, which would fund the Natural Resources and Outdoor Recreation Trust Fund. It’s encouraging to know this meaningful funding is attainable without increasing taxes on hard-working Iowans, including the state’s soybean growers.

“We believe the legislation could provide over $125 million to help farmers implement both in- and edge-of-field conservation practices like cover crops, bioreactors, saturated buffers, and wetland restoration. These dollars would be made possible through a shift in the local sales option tax to a statewide penny—activating Iowa’s Water and Land Legacy (IWILL). The division also recognizes and addresses expenditures tied to the conservation and water quality projects identified by Iowa’s Nutrient Reduction Strategy.

“Recent years have highlighted the important need to protect and enhance both natural resources and recreational opportunities across the state. Iowa’s 40,000 soybean farmers are making voluntary investments in our state’s future, but our ability to scale these practices to meet nutrient reduction targets is hamstrung by the limited conservation funding in priority watersheds. This legislation would afford us the opportunity to deliver significant conservation outcomes benefiting Iowans, while continuing to produce the homegrown soy used to feed and fuel the world.

“Iowa soybean farmers are encouraged to voice support for this proposed legislation by contacting their state elected officials in both the House and Senate today. We look forward to working with policymakers to help accelerate these soil health and water quality improvement efforts.”



ICGA Commends Iowa House on Passage of Biofuels Bill

The Iowa Corn Growers Association commends the Iowa House of Representatives for passing HF 2128, the Governor’s Biofuels Access Bill, by a strong bipartisan vote of 81 to 10 during today’s session. HF 2128 will increase Iowans’ access to cleaner burning, more affordable, homegrown E15/Unleaded 88. The bill is estimated to increase ethanol demand by 60 million gallons annually, utilizing 20.7 million bushels of corn to expand markets for Iowa’s corn farmers.

Below is a statement made by ICGA President and farmer from Vinton Lance Lillibridge:

“ICGA applauds the Iowa House for taking this important first step in making Iowa the national leader on state-level E15 policy. We would like to say a special thank you to Governor Kim Reynolds, House Speaker Pat Grassley, House Minority Leader Jennifer Konfrst and House Ways and Means Chair Lee Hein for their strong leadership in championing biofuels and agriculture and moving this bipartisan legislation forward. We encourage the Iowa Senate to follow-suit by taking action on SSB 3084 as soon as possible to expand E15 access to all Iowans.”



IRFA Applauds Iowa House for Passing Biofuels Access Bill

Today the Iowa House of Representatives passed House File 2128, a bill proposed by Governor Kim Reynolds to increase consumer access to higher biofuel blends like E15 and B20.
 
In response, Iowa Renewable Fuels Association Executive Director Monte Shaw made the following statement:
 
“Today was a victory for Iowa consumers. Every person in Iowa deserves the choice of higher blends like E15 and B20. By unlocking the power of biofuels, Iowans can save money at the pump while also powering our farm economy. IRFA urges the Senate to take the bill up quickly. We also want to thank Gov. Reynolds for prioritizing biofuels choice for Iowans and leading the way. Finally, passing this bill would not have been possible without support from both parties and IRFA thanks Speaker Grassley, Leader Konfrst and all House members who stood united behind biofuels. Promoting biofuels has never been a partisan issue and today we saw what can be accomplished when we focus on what’s best for Iowa’s future.”



Iowa State House Passes Landmark E15 Legislation

Today, the Iowa State House passed H.F. 2128, the 2022 Biofuel Access Bill, with an overwhelming bipartisan majority. This legislation would offer E15 statewide by 2026 and update the E15 promotion tax credit to $0.09 per gallon year-round through 2025. Research shows that statewide E15 in Iowa could cut climate emissions by 180,000 metric tons, the equivalent of removing almost 40,000 vehicles off the road across the state. In a statement, Growth Energy CEO Emily Skor applauded the bill’s passage:

“The bipartisan passage of the Biofuel Access Bill in the Iowa State House is an exciting development in the move toward statewide E15 and in Iowa’s leadership in increasing access to higher blends of biofuels,” said Skor. “Statewide access to higher blends of biofuels means that all drivers across Iowa will have the opportunity to choose fuel that is good for their engine, good for their pocketbook, and one that benefits the community around them. We thank Speaker Pat Grassley, Majority Leader Matt Windschitl, and Chairman Lee Hein for working hard to support biofuels and get this legislation one step closer to becoming law.”



Healthier Soils, Resilient Crops, Cleaner Water

The Clean Water in Iowa Starts Here tour visited the Iowa Ag Expo at the Iowa Events Center in Des Moines. The expo is the third largest indoor ag show in the U.S., and the Iowa Corn Promotion Board sponsored its annual soil and water quality seminars with Iowa farmers sharing the benefits of soil health practices such as cover crops and reduced tillage.

2021 featured some extreme weather including widespread drought and significant areas of wind damage. These farmers’ soil health improvements really shined in this year’s extreme weather with resilient yields and other economic benefits. Despite the harsh weather, the USDA estimates the 2021 Iowa corn yields set the record for highest average yield in Iowa history at 205 bushels per acre. This is a testament to all Iowa farmers’ investments in soil health and water quality practices. For example, cover crops are now used on roughly three million acres in Iowa, building soil organic matter to increase water holding capacity for drought resilience.

The two seminars were moderated by Sean McMahon with the Iowa Ag Water Alliance and Paige Frautschy with The Nature Conservancy. Each seminar featured three Iowa farmers from across the state. Other topics discussed included water quality benefits, soil carbon, and economic opportunities such as carbon markets and low carbon fuels, and working with landlords to implement soil health practices on rented land. Learn more at www.iowacorn.org/rentedland.

“2021 was a record year for corn yields highlighting the economic and productivity benefits of farmer investments in soil health across the state,” stated Ralph Lents, a farmer from Adair County and Iowa Corn Promotion Board director. “Peer-to-peer, farmer-to-farmer sharing at events like the Iowa Ag Expo helps farmers overcome any barriers to adopting new practices on their farms. When we share our journeys and the benefits of soil and water quality, it makes it easier for more farmers to adopt these practices.”



Dairy Goat Webinar Series Continues in 2022

The Iowa State University Extension and Outreach dairy team will continue its quarterly dairy goat webinar in 2022 with all webinar dates and topics identified. All webinars will be from noon to 1:15 p.m.

    March 15 - Join Larry Tranel, ISU Extension and Outreach dairy specialist, and Brian Dougherty, field agricultural engineer with ISU Extension and Outreach, as they discuss milking systems and facility design as it relates to milking dairy goats and recommended housing and ventilation design.

    June 14 - Join Paul Plummer, ISU College of Veterinary Medicine, and executive director of National Institute of Antimicrobial Resistance Research and Education, as he discusses Caprine Arthritis Encephalitis and practical ways to manage the spread of CAE in your herd.

    Sept. 13 - Subclinical mastitis at dry off can be a bottle neck in the push to improve milk quality in dairy goat herds. Iowa State University’s College of Veterinary Medicine is working to determine meat and milk withdrawal times in dairy goats for two intramammary antibiotic treatments commonly used to mitigate this issue in dairy cattle in order to give producers safer tools to provide top quality goat milk products to consumers. Pat Gorden and Michelle Buckley, both from the ISU College of Veterinary Medicine, will present this research information.

There is no fee to attend the program; however, registration is required.

This work is supported by the USDA National Institute of Food and Agriculture, Agricultural and Food Research Initiative Competitive Program, Antimicrobial Resistance number: 2020-04197.

Register in advance for this meeting at https://go.iastate.edu/WU2N6J or contact Jennifer Bentley, dairy specialist with ISU Extension and Outreach, at jbentley@iastate.edu, 563-382-2949.

Registrants will receive a confirmation email containing information about joining the meeting. Information will also be provided about future webinars, as dates and topics are announced.



NCBA Disturbed by JBS Action, Cattle Producers Demand Completion of DOJ Investigation

The announcement that JBS USA has decided on a $52.5 million settlement over allegations of beef price fixing is deeply disturbing to the National Cattlemen’s Beef Association (NCBA). NCBA was the first national organization to request a government investigation of beef markets in 2019. Now there are settlements occurring without Department of Justice (DOJ) having released findings or even providing cattle producers with an update on progress.

In August 2019, following a fire at the Tyson plant in Holcomb, KS, NCBA sent a letter to USDA requesting an examination of price discrepancies in fed cattle markets. Again in 2020, NCBA took its plea directly to the White House, which then directed DOJ to investigate possible wrongdoing in the cattle markets. NCBA has also worked directly with members of Congress to press DOJ for an update and information about its investigation.

“America’s cattle producers expect and deserve full transparency on any, and all, information related to the ongoing market investigations. NCBA encourages the government to finalize its investigation so we can fully understand any damage that may have been caused,” said Colin Woodall, NCBA CEO. “It is clear from this settlement that cattle producers still don’t have all the information they have demanded and is deserved. The DOJ has an obligation to finish their investigation. Cattle producers do not have years to wait for the government to determine whether there has been wrongdoing, we demand answers now.”



Trailblazers Announces Inaugural Group of Beef Spokespeople

The new Trailblazers program, developed by the National Cattlemen’s Beef Association (NCBA), a contractor to the Beef Checkoff, takes advocacy to an unprecedented level by giving participants the tools and training they need to promote beef to new audiences while addressing and correcting myths. After a competitive application process, ten Trailblazers from six states have been selected for the program’s first cohort of beef community spokespeople, including:
    Jaclyn Wilson, Nebraska
    Brianna Buseman, Nebraska
    Natalie Jones, Nebraska
    Shaye Koester, Nebraska
    Marya Haverkamp, Kansas
    Haley Ammann-Ekstrom, Minnesota
    Kacy Atkinson, Wyoming
    Jonathon Black, West Virginia
    Markie Hageman, California
    Sebastian Mejia Turcios, California

“We are excited to start this new program with such a strong group of experienced individuals,” said Chandler Mulvaney, director of grassroots advocacy & spokesperson development at NCBA. “Through extensive training, professional development, and equipping our Trailblazers with the tools needed, we are actively building a network of grassroots advocates across the country that will work together to find solutions to social and practical issues impacting the beef industry.”

These new Trailblazers will receive training to become expert communicators, excel in media interviews and understand how to build confidence in beef related practices when talking to consumers. Throughout the year, Trailblazers will receive advanced training from subject matter experts, learning how to effectively engage on various social media platforms, interact with the media, and enhance public speaking skills.

Trailblazers will meet twice a month, both online and in-person to foster constant growth and refinement of skillsets when speaking about beef. Upon acceptance and completion of the program, Trailblazers will serve as industry spokespeople and inform beef advocates at the local and state levels on advocacy, media and spokesperson best practices. Every year new Trailblazers will be accepted into the program.



2022 CME Group Beef Industry Scholarship Recipients Announced

Ten students pursuing careers in the beef industry were awarded $1,500 scholarships by the National Cattlemen’s Foundation (NCF) and recognized during the 2022 Cattle Industry Convention in Houston. The CME Group Beef Industry Scholarship program recognizes talented and thoughtful students emerging as industry leaders.  
    
The 2022 CME Group Beef Industry Scholarship recipients are:
    Carsten Loseke, Columbus, Neb., University of Nebraska-Lincoln
    Matea Gordon, Whitewood, S.D., South Dakota State University
    Korbin Leddy, Stockholm, S.D., South Dakota State University
    Weston Schrader, Wells, Kan., Kansas State University
    Ethan Vanderwert, Columbia, Mo., University of Missouri
    Sheridan Chaney, Keymar, Md., Butler Community College
    Ellie Kenagy, Oakland, Ore., Oregon State University
    Collin Ochsner, Kersey, Colo., Texas Tech University
    Hannah O'Connor, Rio Oso, Calif., Cal Poly San Luis Obispo
    Jacee Sumpter, Branson, Colo., West Texas A & M University

“NCF and CME Group congratulate this year’s scholarship recipients, who are future leaders in the beef industry,” said Dave True, NCF chair. “We are honored to recognize these exceptional students and help them in their career pursuits.”

Introduced in 1989 and sponsored by CME Group, the scholarship identifies and encourages talented students who play an important role in the future of food production. Students studying education, communication, production, research or other areas related to the beef industry are eligible to apply for the annual scholarship program. Applications for 2023 will be accepted beginning Oct. 1, 2022.

The National Cattlemen’s Foundation is a 501(c)(3) nonprofit organization that was first organized in 1972. It provides charitable, scientific and educational activities to benefit the cattle industry. For more information, visit www.nationalcattlemensfoundation.org.



CattleFax Forecasts Positive Profitability Trends in 2022

The popular CattleFax Outlook Seminar, held as part of the 2022 Cattle Industry Convention and NCBA Trade Show in Houston, shared expert market and weather analysis today. Cattle price and profitability trends for producers are pointed in the right direction, even as challenges and uncertainty persist with continued disruptions from the pandemic. While issues around labor and packing capacity have lingered, both are expected to improve in the year ahead. These expansions in capacity combined with strong global and domestic consumer beef demand suggests increased profitability across segments, signaling a market that is healthier and more stable in the year ahead, according to CattleFax.

Kevin Good, vice president of industry relations and analysis at CattleFax, reported that U.S. beef cow inventories have fallen more than 700,000 head from last year and are off nearly 1.6 million from cycle highs. This year, the beef cowherd will near 30.1 million head.

“Drought, market volatility and processing capacity challenges affected 30 to 40 percent of the cowherd over the last year. Without an improvement in weather and profitability, at least 250,000 more head will be liquidated in 2022,” Good said.

The feeder cattle and calf supply will be 675,000 head smaller than last year, totaling 25.5 million head. Fed cattle slaughter will decline 400,000 head lower compared to last year, at 25.7 million head. Commercial beef production will contract over the next several years starting with a 2 percent decline in 2022.

Good forecasted the average 2022 fed steer price at $140/cwt, up $18/cwt from 2021, with a range of $130 to $155/cwt throughout the year. All cattle classes are expected to trade higher, and prices are expected to improve. The 800-lb steer price is expected to average $172/cwt with a range of $158 to $184/cwt, and the 550-lb steer price is expected to average $205/cwt, with a range of $180 to $230/cwt Finally, Good forecasted utility cows at an average of $75/cwt with a range of $65 to $85/cwt, and bred cows at an average of $1,850/head with a range of $1,700 to $2,000 for load lots of quality, running-age cows.

Consumer demand for beef at home and around the globe remained strong in 2021, a trend that will continue in 2022, especially as tight global protein supplies are expected to fuel U.S. export growth. This will also drive beef prices from end-users to consumers to continue higher in the coming years.

While U.S. median household income increased in 2021, historically high inflation is affecting low-to-middle income Americans the most. Inflation is also driving beef prices to a higher trading range. The USDA All-Fresh Beef Retail Price should average near $7.15/lb this year, ultimately resulting in more margin in the system.

According to Good, wholesale demand will likely slow in the coming year, but cutout value should hold steady near $280/cwt on average for 2022.

Global protein demand has continued to rise, and U.S. beef exports are expected to grow by 5 percent this year to 3.7 billion pounds. The increases were led by large, year-over-year gains into China, and Japan and South Korea remaining strong trade partners for protein. “The tightening of global protein supplies will support stronger U.S. red meat exports in 2022,” Good said.

Mike Murphy, CattleFax vice president of research and risk management services, expects summer weather patterns – and their effect on corn and soybean yields – to be the focus of market participants.

With the expectation of normal weather next spring, CattleFax is forecasting planted corn acres at 91.8 million, with a trendline yield expectation of 180 bu/acre for the 2022 planting season. Soybean acres are expected to remain near steady at 87.2 million acres for the 2022-2023 market year.

“Exceptional demand from China is leading U.S. corn exports to new records and expanded interest could easily push exports higher in 2022,” Murphy said.

Murphy noted that weather is likely to continue influencing hay prices with much of the Central Plains and the West battling some level of dryness or drought. “December 1 on-farm hay stocks were down 6 percent nationally from the previous year, at 79 million tons. Expect current year hay prices to average near $186/ton, $10 higher than 2021 prices due to tighter supplies and stronger demand,” he said.

According to Meteorologist Matt Makens, La Niña remains firmly in control of the ocean-atmosphere system, and that is unlikely to change this spring; however, it remains possible that there will be some changes throughout summer. For the U.S., barring any change to the La Niña outlook or sudden warming in the Gulf of Alaska, dryness continues across the Southwest and South with warms temperatures, too. The Northern Plains and Corn Belt are expected to have wetness farther east this spring and drier conditions for this summer, with temperatures closer to normal versus 2021.

CattleFax CEO Randy Blach concluded the session with an overall positive outlook, expecting margins to improve as cattle supply tightens and producers gain leverage back from packers and retailers, beef demand to remain solid with expected export growth, and utilization and packing capacity to improve over the next few years.



NCBA Releases 2022 Policy Priorities

During the 2022 Cattle Industry Convention and NCBA Trade Show, the executive committee of the National Cattlemen’s Beef Association (NCBA) approved the organization’s 2022 policy priorities with an emphasis on strengthening the economic, environmental and social sustainability of the cattle industry.
 
NCBA’s policy priorities include:
    Improving market leverage and opportunities through increased access to market data and risk management tools for producers.
    Securing the future of the beef industry by protecting crucial tax provisions, limiting regulatory burdens on farms and ranches, and leveling the playing field for producers.
    Boosting the resiliency of the beef supply chain by addressing labor shortages, improving processing capacity, expanding technology, and strengthening transportation.
    Achieving key cattle industry priorities in the 2023 Farm Bill.

 “With the challenging year cattle producers have faced, NCBA is focused on strengthening our industry for the future,” said NCBA President-elect Don Schiefelbein. “By highlighting economic, environmental and social sustainability, we are addressing the long-term needs of the cattle industry and advancing policies that will contribute to business success, economic growth and respect for our way of life.”
 
While industry sustainability will continue to be a focus during the year ahead, NCBA will continue to focus on protecting cattle producers from government overreach and burdensome tax and regulatory burdens.
 
“By working to protect the business environment, increase market transparency and improving the strength of the supply chain, NCBA’s policy efforts will continue to enhance cattle and beef business sustainability in the near-term and for generations to come,” said Schiefelbein.



Weekly Ethanol Production for 1/28/2022

According to EIA data analyzed by the Renewable Fuels Association for the week ending January 28, ethanol production increased by 6,000 barrels per day (b/d), or 0.6%, to 1.041 million b/d, equivalent to 43.72 million gallons daily. Production was 11.2% more than the same week last year, which was affected by the pandemic, but 3.7% less than the same week two years ago. The four-week average ethanol production volume decreased 0.2% to 1.034 million b/d, equivalent to an annualized rate of 15.85 billion gallons (bg).

Ethanol stocks grew 5.6% to 25.9 million barrels, the largest reserves since late April 2020. Stocks were 6.3% higher than a year ago and 10.1% more than the same week two years ago. Inventories built across all regions, including record-high reserves in the Midwest (PADD 2).
                                                                                                              
The volume of gasoline supplied to the U.S. market, a measure of implied demand, declined 3.3% to 8.23 million b/d (126.10 bg annualized). Gasoline demand registered 5.9% higher than a year ago but 7.9% lower than the same week two years ago.

Refiner/blender net inputs of ethanol improved by 3.0% to 819,000 b/d, equivalent to 12.56 bg annualized and a five-week high. Net inputs were 5.3% more than a year ago but 7.8% less than the same week two years ago.

There were zero imports of ethanol recorded after 36,000 b/d hit the books the prior week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of November 2021.)




December DMC Margin Comes in Just Above Payment Threshold

2021 narrowly missed being the first calendar year during which the Dairy Margin Coverage program would have made payments at the maximum $9.50/cwt coverage level during every month. But a milk-price surge prevented that from happening.

The December margin under the program was $9.53/cwt, $0.39/cwt. higher than November’s margin and above the threshold needed to trigger payments at the maximum coverage level. From November to December, the all-milk price gained $1.00/cwt, to $21.80/cwt, while the DMC feed cost gained $0.61/cwt. On a per hundredweight of milk basis, half of the feed-cost increase was from higher soybean meal prices, one-third from higher corn prices, and one-sixth from higher premium alfalfa prices.

Late January dairy and grain futures continued to indicate a very small likelihood for payments during 2022; still, the generally strong milk price outlook has shown volatility in recent weeks, and grain prices have been showing renewed strength.

Signup for the 2022 DMC program is underway and will close on Feb. 18. Last year’s program has paid out nearly $1.2 billion to 18,800 enrolled operations as of Jan. 31. The National Milk Producers Federation is urging dairy farmers who haven’t yet joined DMC to do so. NMPF has a page of resources for members who may have questions here https://www.nmpf.org/act-now-usdas-dairy-margin-coverage-program-now-open-for-2022-enrollment/.



CWT-Assisted Dairy Export Sales Kick 2022 Off with 166 Million Pounds

CWT member cooperatives secured 106 contracts in January, kicking 2022 off by adding 15 million pounds of American-type cheeses, 2.0 million pounds of whole milk powder and 1.7 million pounds of cream cheese to CWT-assisted sales in 2022. These products will go customers in Asia, Central America, the Caribbean, Middle East-North Africa and South America, and will be shipped from January 2022 through July 2022.

CWT-assisted 2022 dairy product sales contracts year-to-date total the same as above; 15 million pounds of American-type cheese, 1.7 million pounds of cream cheese and 2.0 million pounds of whole milk powder. This brings the total milk equivalent for the year to 166 million pounds on a milkfat basis. Over the last 12 months, CWT assisted sales are the equivalent of 1.444 billion pounds of milk on a milkfat basis.