Economic indicators and beef cattle prices
Alfredo DiCostanzo, Nebraska Beef Systems Extension Educator
Beef cattle prices are reflecting declining beef cow inventory in response to drought and poor economic returns. This is leading to fewer feeder cattle and cattle on feed.
Beef production from January to March of 2023 is already nearly 3% lower than beef production in the same period last year. Gross revenue per head reached over $350/head of steer marketed on a negotiated basis in mid-April. This value has since declined to $260/head for cattle marketed last week.
On the one hand, producers may wonder whether beef prices can hold considering various social and economic conditions our country is currently facing. On the other hand, they may wonder how well cattle prices reflect prices consumers pay. The underlying perception, sometimes not aided by well-intentioned magazine and blog contributors, is that actions by packers lead to market control despite reduced beef supply.
The first issue could be of concern as consumers in the US and export markets continue to face inflation effects on prices of goods and fuel. Also, fears of recession continue.
Recession is different from inflation as a nation could experience inflation without affecting gross domestic product (GDP), employment, retail sales or declining income. Currently, these indicators appear to indicate economic activity has not declined; therefore, the US is not considered to be in a recession.
Although difficult to evaluate all measures of inflation or recession collectively; a single economic index, the Weekly Economic Index (WEI), is used to provide an indication of the strength of the US economy. The WEI considers ten indicators, aggregated weekly, of real economic activity reflecting GDP growth, consumer behavior, the labor market and production.
The most recent recession the US faced was that brought on by the country shut-down in response to COVID-19. Between March and December of 2020, the WEI remained at below zero for 40 straight weeks. There has not been a single negative WEI value since March of 2021.
The association between the US beef cutout (comprehensive), a value that reflects boxed beef sales of primal cuts (rib, chuck, round, loin, brisket, short plate, and flank), and the WEI for each week between the first of the year and April 28 is depicted in Figure 1.
Although the reader should be cautioned that there are only 18 weeks plotted and generalizations from a few data points, such as this graph, should be made carefully, one thing is clear: there is no association between WEI and beef cutout value. This reflects the fact that consumers’ perception of current economic conditions (inflation) is not affecting their appetite for beef. Alternatively, one might suggest that WEI does not truly reflect consumers’ perception of economic conditions; but this author is not prepared to support that argument. Therefore, one might conclude that, although beef cutout value rose 13% since January of 2023, consumers found the price of beef acceptable considering its nutritional value and the eating experience it rendered.
Alternatively, if beef cutout value represents the balance between supply (beef production) and demand (interest by consumers to purchase beef), and beef cutout value is reflected by fed cattle price, then there should be a relationship between these two datasets. Again, using data since the start of 2023, live or carcass price based on the Nebraska Weekly Direct Slaughter Cattle - Negotiated Purchases was plotted in Figure 2 against beef cutout value.
As for Figure 1, cautioning the reader to over-interpret associations gleaned from Figure 2 is prudent. Yet, comparing Figure 1 and Figure 2, it is clear to see that beef cutout value and fed steer prices are associated while beef cutout value and WEI are not (Figure 1 is a scatter of points while Figure 2 reflects a linear or curvilinear association).
Secondly, the association between fed steer price and beef cutout value is positive (as beef cutout value increases, so does fed steer price) and strong (beef cutout value accounts for 77% to 80% of the fed steer price). More importantly, dots (live price) or triangles (carcass price) lying above the line demonstrate when price paid for a steer (live or on carcass) was better than the expected relationship between beef cutout value and price). Similarly, dots or triangles lying below the line demonstrate when price for a steer (live or on carcass) was worse than the expected relationship between beef cutout value and price).
A simple count of the instances where dots or triangles lie above or below the line indicates that instances of pricing better or worse than suggested by the beef cutout value are nearly equal (8 out of 19 with one on the line). These observations suggest that although there are a few packers bidding for a lot of cattle, ultimately, the price paid for fed steers must reflect what consumers are willing to pay for it given a set supply of beef.
Figure 1. The relationship between beef cutout value and WEI or Weekly Economic Index; a weekly aggregate of real economic activity reflecting GDP growth, consumer behavior, the labor market and production.
PRESEASON HAY EQUIPMENT MAINTENANCE
– Ben Beckman, NE Extension Educator
Spring is busy getting crops in the ground, but if much needed moisture keeps you from the field, take some time to maintain your haying equipment and prevent costly downtime later.
First, inspect, lubricate, and service all power-driven areas such as belts, bearings, chains, and gears. Set tension on belts and chains. For sicklebar headers, check, sharpen, or replace cutterbar sections and adjust wear plates, hold-down clips, and guards. Make sure your cutterbar has proper knife register. On disc mowers, replace knives and rotate or replace worn turtles over the knives.
Conditioning rollers often are overlooked. Look for uneven wear and adjust the roll gap, roll timing, and roll pressure for your crop.
On round balers, inspect belts, chains, and slats or rollers frequently for wear. Trim frayed edges and repair belts as needed to maintain uniform tension. When not in use, keep belts clean and release belt tension.
Check plunger knife clearance and plunger alignment on square balers and inspect the tying mechanism and adjust as needed. Pick-up teeth on balers and on rakes frequently are broken or bent. Replace defective teeth and adjust height if necessary.
Also, be sure you have replacement parts on hand for frequently broken or replaced items. And most important of all, review your owner's manual to identify recommended maintenance procedures and proper settings.
Scientists Use Gene-Editing Technology to Produce First Calf Resistant to Major Viral Disease
Scientists have collaborated to produce the first gene-edited calf with resistance to bovine viral diarrhea virus (BVDV), a virus that costs the U.S. cattle sector billions of dollars annually.
The recent study published in PNAS Nexus results from a collaboration between the USDA's Agricultural Research Service (ARS), the University of Nebraska–Lincoln (UNL), the University of Kentucky, and industry partners, Acceligen and Recombinetics, Inc.
BVDV is one of the most significant viruses affecting the health and well-being of cattle worldwide, and researchers have been studying it since the 1940s when it was first recognized. This virus does not affect humans but is highly contagious among cattle and can cause severe respiratory and intestinal diseases.
BVDV can be disastrous to pregnant cows because it can infect developing calves, causing spontaneous abortions and low birth rates. Some infected calves survive to birth and remain infected for life, shedding massive amounts of virus to other cattle. Despite more than 50 years of vaccine availability, controlling BVDV disease remains a problem since vaccines are not always effective in stopping transmission.
However, over the past 20 years, the scientific community discovered the main cellular receptor (CD46) and the area where the virus binds to that receptor, causing infection in cows. Scientists modified the virus binding site in this recent study to block infection.
Aspen Workman, lead author and researcher at ARS' U.S. Meat Animal Research Center (USMARC) in Clay Center, Nebraska, said, "Our objective was to use gene-editing technology to slightly alter CD46 so it wouldn't bind the virus yet would retain all its normal bovine functions."
The scientists first tested this idea in cell culture. After seeing promising outcomes in the laboratory, Acceligen edited cattle skin cells to develop embryos carrying the altered gene. These embryos were transplanted into surrogate cows to test whether this approach might also reduce virus infection in live animals.
It worked, and the first CD46 gene-edited calf, named Ginger, was born healthy on July 19, 2021. The calf was observed for several months and then later challenged with the virus to determine if she could become infected. She was housed for a week with a BVDV-infected dairy calf that was born shedding virus. Ginger's cells displayed significantly reduced susceptibility to BVDV, which resulted in no observable adverse health effects.
The scientists will continue to closely observe Ginger's health and ability to produce and raise her own calves.
This proof-of-concept study demonstrates the possibility of reducing the burden of BVDV-associated diseases in cattle by gene editing. The edited calf also represents another potential opportunity to lessen the need for antibiotics in agriculture since BVDV infection also puts calves at risk for secondary bacterial diseases. This promising trait is still in the research phase and no associated beef is entering the U.S. food supply at this time.
Pork Producers Provide 50,000 Meals for Underprivileged Iowans
The Iowa Pork Producers Association’s new Pork in the Pantry program provided more than 50,000 meals for underprivileged Iowans over the past few months. Forty county pork producer organizations worked with the state association to donate pork to local food pantries. The Iowa Pork Producers Association (IPPA) matched up to $1,000 for each county, totaling nearly $40,000 statewide.
Food pantries are frequently short of meat products, so this was a great way to get nutritious protein into the diets of food-insecure Iowans.
“I am so proud of the way county pork producer organizations stepped up and delivered for Iowans in a time of need,” said IPPA President Trish Cook, a pig farmer from Winthrop. “Our first year for the Pork in the Pantry program exceeded our expectations, and we helped a lot of food-insecure Iowans with delicious and nutritious meals. Pork producers care about this state and its people, and this is just one way for us to show we care.”
“Iowa’s pork producers are amazing,” said Joyce Hoppes, IPPA’s consumer information director. “Their support of the Pork in the Pantry program shows their commitment to making their communities better and enriching the lives of the food-insecure with some delicious and nutritious, high-quality protein meals.”
Counties participating in Pork in the Pantry this year include:
Adair
Adams
Buchanan
Buena Vista
Calhoun
Cass
Cedar
Cherokee
Chickasaw
Clay
Clayton
Delaware
Des Moines
Grundy
Hamilton
Hardin
Henry
Howard
Ida
Jasper
Jefferson
Johnson
Jones
Kossuth
Lyon
Madison
Marshall
O’Brien
Page
Palo Alto
Plymouth
Poweshiek
Ringgold
Sac
Sioux
Story
Taylor
Washington
Webster
Winneshiek
The pork donations included bacon, brats, chops, ground pork, hams, loins, roasts, sausage, and tenderloins, as well as convenience meals like precooked deli ham. Many groups purchased the pork from area meat lockers and grocery stores, helping to keep the dollars in their local communities.
Century and Heritage Farm Program Applications due June 1
Iowa Secretary of Agriculture Mike Naig reminds eligible farm owners to apply for the 2023 Century and Heritage Farm Program through June 1.
The program was created by the Iowa Department of Agriculture and Land Stewardship and the Iowa Farm Bureau Federation to recognize families who have owned their farms for 100 years and 150 years, respectively, and to honor the strength and resiliency of Iowa’s multi-generational farm families.
To apply, download the program application on the Department’s website at iowaagriculture.gov/century-and-heritage-farm-program. Please complete the application and return it to:
Century and Heritage Farm Program
Iowa Department of Agriculture and Land Stewardship
Wallace State Office Building
502 E. Ninth St.
Des Moines, IA 50319
You may also send a written request for an application to the address above, or contact Kelley Reece, coordinator of the Century and Heritage Farm Program, at 515-281-3645 or kelley.reece@iowaagriculture.gov.
Special ceremonies recognizing 2023 Century and Heritage Farm families will be held at the Iowa State Fair on Thursday, Aug. 17 in the historic Livestock Pavilion.
LANDUS JOINS THE GROWERS RETAIL NETWORK TO BRING FARMERS A NEW WAY TO PURCHASE INPUTS
Landus, Iowa’s largest farmer-owned cooperative and a leading retailer of agricultural inputs, announced today that it has joined The GROWERS Retail Network. This partnership connects Landus to farmers on The GROWERS App, a digital platform for farmers to connect with retailers and research input products. Farmers send their purchase requests directly to GROWERS Retail Network partners, like Landus, giving customers a more efficient way to purchase inputs and interact digitally with their input providers.
The GROWERS App was created to address the inefficiencies of the process many farmers follow to procure inputs, which typically involves calling multiple retailers, receiving pricing, and comparing those prices manually. The GROWERS App allows farmers and retailers to streamline that process by creating the ability for the farmer to submit their input request in the platform, share the request with retailers and receive, compare, select, and purchase those inputs all in one place. Farmers gain efficiency on their farm operations, and retailers gain the ability to serve farmers in a modern, digitally enabled way.
"Joining The GROWERS Retail Network is an exciting milestone for Landus and an important part of our growth strategy," said Matt Carstens, president and CEO of Landus. "Together with our GROW Solutions Center, our technical agronomy expertise and direct ship opportunities, Landus can serve farmers across the greater Midwest. Technology like The GROWERS App simplifies the process and makes purchasing agronomy inputs more efficient. At Landus, we keep the farmer at the center of everything we do, and this is one more way we are focused on helping them sustainably grow.”
The GROWERS App is a one-stop shop for farmers to learn about and purchase inputs, including seed, crop protection, fertilizer, fuel, and services from their local retailers and reputable retailers within The GROWERS Retail Network. The platform provides farmers with the convenience of online purchasing and a better way to manage the process of ordering inputs from retailers like Landus.
By joining The GROWERS Retail Network, farmers have yet another way to connect with Landus. The cooperative already offers the Landus GROW Solutions Center. This first-to-the-industry virtual hub of Landus experts provides advice and support on crop management, precision agronomy, grain marketing, animal nutrition and sustainability practices.
"We are thrilled to welcome Landus to The GROWERS Retail Network," said Steven Valencsin, CEO of GROWERS. "Landus is a well-respected partner to farmers with a growing network across the Midwest. We are excited to work with them to offer farmers on The GROWERS App a more efficient, digitally enabled way to do business with their ag retail counterparts.”
Higher Beef Prices Begin to Bite, for Some
David P. AndersonExtension Economist, Texas A&M AgriLife Extension Service
Higher cattle prices are welcome (and overdue) news to ranchers as they are necessary to return to profitability following higher production costs. Higher wholesale beef prices are more difficult news to restaurants as they work to put together options that are competitively priced for their customers.
In this part of the world briskets are an important (or maybe I should say THE important) cut for BBQ restaurants. Higher prices are being reflected in price quotes from suppliers. In the broader wholesale market as reflected by the comprehensive cutout value only the short plate, flank, and loin have increased more than briskets this year. The primal brisket in the comprehensive cutout has increased 16 percent since the first of the year, from $2.12 per pound to $2.46 per pound. Smaller restaurants are likely paying higher prices due to small volumes.
Many small specialty BBQ restaurants source Prime or Branded program briskets. It is often the case that branded program briskets carry a premium over USDA Prime quality grade. That has reversed lately with Prime briskets carrying a premium over Branded program briskets ranging from $8.73 per cwt to $0.37 per cwt.
Higher prices are likely to continue to be felt by restaurant buyers as fed cattle and beef supplies tighten. Variation in the percent of cattle grading in each quality grade will add to price volatility. The percent of cattle grading Choice has been above a year ago, but declining slaughter numbers and weights mean that less is available. A smaller percentage of cattle have been grading Prime most weeks this year contributing to Prime’s premium over Branded products.
NCGA to EPA: Biofuels Should be Used to Lower Auto Greenhouse Gas Emissions
A leader with the National Corn Growers Association today expressed serious concerns to U.S. Environmental Protection Agency officials regarding the limitations of the agency’s proposed vehicle emissions standards and highlighted how the agency could take greater advantage of higher ethanol blends as it finalizes standards for cars and light trucks.
The testimony came during a public hearing to review EPA’s proposed Multi-Pollutant Emission Standards for model years 2027-2032. NCGA Chairman Chris Edgington expressed frustration that EPA has only looked at one solution, electric vehicles, for lowering greenhouse gas and pollutant emissions.
“Unfortunately, EPA’s proposed multi-pollutant standards consider only one solution,” he said. “EPA’s proposal limits the ability of clean, low-carbon ethanol to contribute greater emission reductions and support affordable options.”
Edgington encouraged EPA to address the serious limitations of its proposal and work with NCGA to level the playing field and advance the needed rulemaking to improve fuel standards.
“Clean, high-octane fuel from mid-level ethanol blends, used as a system with advanced engines, offers an essential pathway for achieving significant greenhouse gas and complementary criteria emission reductions from model year 2027 and later vehicles,” said Edgington. “It also offers substantial public health and environmental justice benefits by reducing particulate matter emissions from gasoline.”
Growth Energy to Flag Neglect of Biofuels in EPA Tailpipe Proposal
Growth Energy will urge regulators to harness U.S. biofuels to address gaps in the U.S. Environmental Protection Agency’s (EPA) emissions-reduction plan for cars and trucks on Wednesday. Growth Energy Senior Vice President of Regulatory Affairs Chris Bliley will deliver the message during testimony at the EPA’s public hearing on Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles.
“[L]iquid fuels will continue to play a dominant role in the transportation sector now and for decades to come,” Bliley will testify. “These fuels and vehicles operate as a system. As such, it is imperative to consider the vital role that environmentally sustainable fuel options, such as ethanol, will play in reducing greenhouse gas emissions from the current and future vehicle fleet, rather than putting the thumb on the scale for one, single technology.”
Additionally, Bliley will note that “[E]thanol reduces greenhouse gas emissions by nearly 50 percent compared to gasoline and can provide reductions of up to 100 percent with the use of readily available technologies. Ethanol’s other environmental benefits are also noteworthy. As research has shown, the use of more ethanol and ethanol-blended fuel reduces air toxics, such as carbon monoxide, benzene, and other harmful particulates.”
To avoid leaving millions of tons of carbon reductions on the table, Bliley will call on regulators to embrace innovative strategies for decarbonizing transportation with clean, affordable biofuels.
Specifically, he will urge EPA to:
Accelerate the deployment of E15 nationwide;
Approve and adopt high-octane, midlevel ethanol blends like E30;
Expand access to Flex Fuel Vehicles (FFVs) in conjunction with use of E85; and
Finalize strong volumes under the Renewable Fuel Standard for 2023, 2024, 2025, and well into the future.
ACE Testimony to EPA Advocates for a Technology-Neutral Approach When Finalizing Vehicle Emissions Standards
American Coalition for Ethanol (ACE) CEO Brian Jennings testified today during a virtual public hearing on the electric-vehicle centric Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles the Environmental Protection Agency (EPA) proposed last month.
Jennings’ testimony calls on EPA to give more consideration to ethanol, a lower-carbon and higher-octane alternative, to replace the fossil fuel powering 99 percent of the U.S. vehicle fleet. The remarks outlined how agriculture is critical to reduce greenhouse gas (GHGs) emissions, citing the Intergovernmental Panel on Climate Change (IPCC) finding that 89 percent of the globe’s capacity to mitigate carbon emissions comes from agricultural soil carbon sequestration.
“Understanding this enormous potential, ACE is leading a project to more accurately validate the degree to which farmer adoption of practices, such as reduced tillage and cover crops, reduce ethanol’s lifecycle GHG emissions,” Jennings said in his prepared testimony.
“Unfortunately, the California Low Carbon Fuel Standard does not yet allow carbon credits for biofuels produced from climate-smart agriculture, and since EPA’s proposal puts all our eggs in one basket, it fails to unlock the significant carbon mitigation potential from agricultural lands and ethanol,” Jennings said. “We can and should do better.”
“EPA should reconsider its proposal, develop a technology-neutral approach to decarbonizing transportation fuel, and engage with ACE as we implement our project to ensure fair and accurate accounting for GHG reductions from climate-smart agriculture and ethanol,” Jennings concluded.
RFA Urges Tech-Neutral Solutions for Vehicle Emission Reductions
In testimony to the U.S. Environmental Protection Agency today, the Renewable Fuels Association called on the agency to use honest carbon accounting and adopt a technology-neutral approach to reducing greenhouse gas emissions for passenger vehicles. According to RFA, EPA’s proposed actions on vehicular emissions standards for 2027-2032 “would effectively force automakers to produce more battery electric vehicles and would strongly discourage them from pursuing other technologies that could achieve the same—or even better—environmental performance at a lower cost to Americans.”
“RFA shares the Biden administration’s goals of increasing vehicle efficiency and reducing carbon emissions,” said RFA President and CEO Geoff Cooper. “However, we strongly disagree with regulatory approaches that arbitrarily pick technology winners and losers. Unfortunately, that’s exactly what this proposed rule would do.”
At issue is the agency’s proposal allowing EV manufacturers to use a zero grams/mile emissions compliance value for EVs. According to RFA, “This approach falsely assumes EVs have no carbon impacts whatsoever and ignores the upstream emissions related to electricity generation, as well as the substantial emissions involved in battery mineral extraction and vehicle construction. We strongly oppose EPA’s proposal to exclude upstream emissions in the GHG accounting.”
Cooper pointed out that the administration’s own research indicates that high-octane, low-carbon renewable fuels like ethanol can immediately deliver dramatic improvements in fuel efficiency and carbon performance when paired with the right engine technologies. “We urge EPA to reconsider its proposal and instead adopt a technology-neutral approach that treats all low-carbon transportation options fairly and equally, and we ask that EPA use this rulemaking to establish a roadmap for increasing the required minimum octane rating of our nation’s light-duty vehicle fuel.”
RFA will submit comprehensive written comments on the proposed regulation by the July 5 deadline.
AFBF Urges USDA to Accept Petition for FMMO Hearing
The American Farm Bureau Federation is urging the U.S. Department of Agriculture to accept the petition of the National Milk Producers Federation for a long-overdue comprehensive Federal Milk Marketing Order hearing to ensure that consumers have access to fresh milk and dairy products while protecting dairy farmers from potentially harmful market conditions.
In a letter sent to USDA’s Agricultural Marketing Service, which oversees the FMMO program, AFBF President Zippy Duvall not only calls on USDA to hold a hearing on FMMO reform, but also asks the department to go further than a recent NMPF petition by asking for mandatory, audited surveys of dairy processors to be used when determining the make allowances factored into dairy pricing. The letter points out USDA’s authority to conduct a mandatory audit under the Agricultural Marketing Agreement Act.
This change and the need for additional reforms were part of a farmer consensus formed at the AFBF-hosted FMMO Forum held in Kansas City, Missouri, last October.
“We appreciate Secretary Vilsack’s call for industry to align around recommendations, and in direct response we gathered hundreds of dairy farmers from every corner of the country who were joined by cooperative leaders, processors, USDA and other active industry participants to discuss milk pricing issues productively and respectfully,” Duvall wrote in the letter. “Discussions spanned a wide array of topics including updating Class pricing formulas, reducing incentives to de-pool, adding transparency to payment methods, strengthening the farmer’s voice within referendums, and the general need to make the FMMO system operate effectively under current market conditions.”
The results of the FMMO Forum were used in the separate policy development processes of both NMPF and AFBF. In their petition, NMPF outlined four policy recommendations outside of make allowance updates, all of which are supported in principle by AFBF’s member-driven policy. The changes include the discontinuation of the use of barrel cheese in the protein component price formula, returning to the “higher-of” Class I mover, updating the milk component factors for protein, other solids, and nonfat solids in the Class III and Class IV skim milk price formulas and updating the Class I differential pricing surface throughout the United States.
A full hearing on FMMO reform would allow all parties with an interest in dairy pricing to come to the table and share ideas.
“Dairy farmers continue to face market challenges as part of the high-cost, high-risk times we live in,” Duvall wrote. “Trust is critical to maintaining an efficient and resilient federal order system that promotes orderly marketing of milk to consumers across the country. A comprehensive Class price hearing…could balance the needs of both the farmers who produce the milk and the processors who turn it into the dairy products we know and love.”
Farmers and Ranchers Call for Checkoff Reform in Defiance of Industry Pressure on Congress
Today 61 signing organizations sent a letter to the leadership of both Congressional Agriculture Committees in response to opposition to the Opportunities for Fairness in Farming (OFF) Act from corporate industry trade and lobbying groups.
The OFF Act would reform checkoff programs, which are mandatory programs under the U.S. Department of Agriculture funded by compulsory fees on producers of milk, eggs, beef, pork, and many other commodities. Today’s letter was endorsed by a coalition led by R-CALF USA and Farm Action Fund and signers represent hundreds of thousands of farmers and ranchers who pay into checkoff programs.
The coalition of farmers and advocates wrote that not only does the industry’s letter mischaracterize the OFF Act, its authors are themselves the recipients of checkoff funds, "including the American Farm Bureau Federation (awarded at least $900,000 for FY23) and the National Cattlemen’s Beef Association (awarded $25,720,000 for FY23).”
Today’s letter clarified that the “OFF Act does nothing to impair the ability of commodity checkoffs to fulfill their intended purpose of promoting specific commodities,” as the industry claimed, but only improves accountability and transparency. “Currently, there is almost no publicly available expenditure and budget information,” the coalition wrote.
The coalition of farmers and advocates explained that the OFF Act would remedy this lack of accountability. "Every farmer and rancher who is mandated to pay into the checkoff programs deserves no less than to know where their money is being spent and that it is properly accounted for."
Riley Named CFO for the National FFA Organization and the National FFA Foundation
Dan Riley has been named the chief financial officer of the National FFA Organization and the National FFA Foundation. In this role, he will be responsible for the financial standing, performance and reporting of the National FFA Organization and the National FFA Foundation.
“Dan’s experience in corporate and nonprofit financial management provides an excellent background in guiding National FFA,” said Scott Stump, chief executive officer of the National FFA Organization. “He will be a great addition to our leadership team and help ensure long-term financial strength to serve FFA and agricultural education.”
Previously, Riley served as senior vice president and chief financial officer for Goodwill of Central and Southern Indiana Inc.
He started his career with Arthur Andersen and Company, progressing from staff auditor to senior auditor in the audit and business advisory division. He then served as lead internal auditor for PSI Energy Inc and as Senior Financial Analyst at Cinergy Corporation (currently Duke Energy).
“I am really excited to join FFA and help contribute to FFA’s legacy of developing the next generation of leaders who will change the world,” Riley said. “I’m happy to bring my experience to a new set of opportunities and challenges and continue learning and growing in my career. I’m looking forward to working with the FFA’s leaders and board members and my team — listening to and learning from them while providing strategic financial leadership to a great organization.”
Riley earned his bachelor’s degree in accounting from Indiana State University, was a Class of 2013 Hoosier Fellow, and was an Indianapolis Business Journal top honoree for the CFO of the Year Award in the not-for-profit category.
He is married with two adult children and enjoys running, cycling, outdoor activities and reading.
The National FFA Organization is a school-based national youth leadership development organization of more than 850,000 student members as part of 8,995 local FFA chapters in all 50 states, Puerto Rico and the U.S. Virgin Islands.
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