Monday November 06 Ag News

NEBRASKA CROP PROGRESS AND CONDITION

For the week ending November 5, 2023, there were 5.8 days suitable for fieldwork, according to the USDA's National Agricultural Statistics Service.

Topsoil moisture supplies rated 21% very short, 29% short, 48% adequate, and 2% surplus. Subsoil moisture supplies rated 26% very short, 37% short, 33% adequate, and 4% surplus.

Field Crops Report:
Corn harvested was 84%, behind 89% last year, but ahead of 78% for the five-year average.

Soybeans harvested was 95%, behind 100% last year, and near 96% average.

Winter wheat condition rated 3% very poor, 12% poor, 35% fair, 39% good, and 11% excellent.

Sorghum harvested was 82%, near 85% last year and 79% average.

Pasture and Range Report:
Pasture and range conditions rated 6% very poor, 11% poor, 27% fair, 39% good, and 17% excellent.



IOWA CROP PROGRESS AND CONDITION REPORT

Colder than normal temperatures but dry weather led to 6.0 days suitable for fieldwork during the week ending November 5, 2023, according to the USDA, National Agricultural Statistics Service. Fieldwork included harvesting corn and soybeans, completing fall tillage, applying fall fertilizer, baling stalks, and hauling manure.

Topsoil moisture condition rated 15 percent very short, 40 percent short, 44 percent adequate and 1 percent surplus. Subsoil moisture condition rated 27 percent very short, 43 percent short, 29 percent adequate and 1 percent surplus.

Corn harvested for grain reached 89 percent statewide, a day ahead of last year and 10 days ahead of the 5-year average. Moisture content of field corn being harvested for grain was at 16 percent.

Soybeans harvested reached 97 percent, on pace with last year but 9 days ahead of the average.

Livestock reports included calves being weaned and cattle being turned out onto stalk fields.



USDA Crop Progress Report: 19% of Corn, 9% of Soybeans Left to Harvest as of Nov. 5

The U.S. corn and soybean harvests continued to outpace the five-year averages last week, and the condition of the winter wheat crop improved, USDA NASS reported in its weekly Crop Progress report on Monday.

CORN
-- Harvest progress: Corn harvest moved ahead 10 percentage points to reach 81% complete as of Sunday. That is 4 percentage points behind last year's pace of 85% but 4 percentage points ahead of 77% for the five-year average.

SOYBEANS
-- Harvest progress: Soybean harvest progressed 6 percentage points to reach 91% complete as of Sunday. That is 2 points behind last year's 93% but 5 points ahead of the five-year average of 86%.

WINTER WHEAT
-- Planting progress: Winter wheat planting advanced 6 percentage points last week to reach 90% complete as of Sunday. That is 1 percentage point behind last year's 91% but 1 point ahead of the five-year average of 89%.
-- Crop progress: 75% of the crop had emerged as of Sunday, 4 points ahead of last year's 71% and 2 points ahead of the five-year average of 73%.
-- Crop condition: Winter wheat condition was rated 50% good to excellent, up 3 percentage points from 47% the previous week and well above 30% at this time a year ago.



Nebraska Students, Chapters Shine at National FFA Convention

Nebraska FFA was well represented at the 96th National FFA Convention held in Indianapolis, Indiana, November 1-4.

Members qualified for the National Convention by competing at the state level last spring, advancing first place competitors to the national competition.

Two national championships were won by Nebraska members in the competitive Career and Leadership Development Events, as well as two National Proficiency area winners.

Caleb Most of the Ogallala FFA Chapter came in first place in the Extemporaneous Speaking contest. Most advanced through three rounds, giving three speeches that he drew a separate, unrelated topic for each time on agricultural related subjects. He then would have 30 minutes to prepare and practice his 4-to-6-minute speech.

“I’ve put a lot of time into this activity,” Most said following the announcement. “It’s not something that you perfect right away.”

On hearing his name called as the winner of the event, Most said that it was an unbelievable and indescribable moment.

Members of the West Holt FFA Chapter were also named national champions in the Conduct of Chapter Meetings contest. This is a contest for younger FFA members to demonstrate their knowledge and practice of official FFA meeting procedures, including opening and closing ceremonies and parliamentary law.

Monica Chavez, a member of the winning team, said her team would practice everyday leading up to the event, and sometimes twice a day.

“It was an opportunity to do something great for our chapter,” said Chavez. “We knew we had a talent, and we kept working towards our goal.”

Other high-placing individuals, teams, and highlights include:
• Stuart FFA member, William Paxton, winning 1st place in his SAE Proficiency Area, Specialty Animal Production
• Sumner-Eddyville-Miller FFA member, Creyton Line, winning 1st place in his SAE Proficiency Area, Environmental Science & Natural Resources Management
• Blair FFA, Veterinary Science Team, 4th Place Team
• East Butler FFA, Floriculture Team, 10th Place Team
• Eustis-Farnam FFA, Agronomy Team, 6th Place Team
• Eustis-Farnam FFA, Food Science & Technology, 3rd Place Team
• Eustis-Farnam FFA, Meats Evaluation & Technology, 5th Place Team
• Pender FFA, Farm and Agribusiness Management, 7th Place Team
• Wayne FFA, Horse Evaluation, 2nd Place Team
• Lakeview FFA, 3-Star National Chapter Award
• Mead FFA, 3-Star National Chapter Award
• American FFA Degree Recipients from Nebraska: 142, including:
   - Alexis Bodlak, Pender
  - Emily Eilers, Wayne
  - Jadyn Fleischman, Tekamah-Herman
  - Kaleb Hasenkamp, West Point
  - Jamie Janke, Wayne
  - Cort Loseke, Lakeview
  - Mikaela McManigal, Wayne
  - Allison Nielsen, Blair  
  - Paige Nolan, Humphrey
  - Keri Sanne, Norfolk  
  - Levi Schiller, West Point
  - Amanda Sellin, Norfolk
  - Lacy Williams, Lakeview



2023-24 National FFA Officer Team Elected During 96th National FFA Convention & Expo

The 2023-24 National FFA Officer team was elected today during the final session of the 96th National FFA Convention & Expo in Indianapolis.

Students from Michigan, Missouri, Florida, Iowa, Ohio and New Mexico were elected by National FFA Delegates today to serve as 2023-24 National FFA Officers. They will lead the organization for the next year.

These members were selected from 35 candidates vying for the honor. Candidates take part in an extensive interview process with the National FFA Officer Nominating Committee leading up to the selection.

Amara Jackson of Michigan was elected national president. She is a former member of the Corunna FFA Chapter.

Grant Norfleet of Missouri was elected national secretary. He is a former member of the Mexico FFA Chapter.

Carter Howell of Florida was elected southern region vice president. He is a former member of the Durant Senior FFA Chapter.

Kanyon Huntington of Iowa was elected central region vice president. He is a former member of the East Union FFA Chapter.

Morgan Anderson of Ohio was elected eastern region vice president. She is a former member of the Amanda-Clearcreek FFA Chapter.

Emily Gossett of New Mexico was elected western region vice president. She is a former member of the Silver City FFA Chapter.

Each year, during the National FFA Convention & Expo, six student members are elected by delegates to represent the organization as national officers. Delegates elect a president, secretary and vice presidents representing the country's central, southern, eastern and western regions.



HUSKER TEAM AIMING TO ESTABLISH FIRST CENTER FOR SPACE AGRICULTURE

It’s little wonder that so much of the early research into space exploration would focus on escaping orbit, or that the source of that escape, the rocket, would occupy so many minds with the cosmic ambition to match their intellect.

But that ambition fueled the race to space at least as much as liquid hydrogen did. And so, as the University of Nebraska–Lincoln’s Yufeng Ge and Santosh Pitla witnessed the astronomical advances of their own era — reusable rockets landing back on Earth, a drone taking flight on Mars — the Husker engineers began thinking big about an aspect of space travel just obvious enough to often escape attention.

“We’ll be on Mars and the moon, we’ll have settlements — and people got to eat,” said Pitla, associate professor of biological systems engineering.

Before long, the duo was applying for and earning a two-year Grand Challenges grant from Nebraska’s Office of Research and Economic Development. Ge and Pitla’s long-term goal is about as ambitious as it gets: finding ways to sustainably grow food on space stations, the moon, Mars and other celestial bodies that might eventually sustain legions of human ones. To do it, they formed the Consortium of Space, Policy, Agriculture, Climate and Extreme Environment — SPACE2, for short.

The consortium’s short-term aim doesn’t exactly lean modest, either. It may not rank with the near-vacuum of space, but Ge and Pitla would come to learn of a sizable void: No U.S. university features a center dedicated specifically to the study of space agriculture. The researchers want Nebraska to house the first.

“If NASA or the big space companies — SpaceX, Virgin Galactic, Blue Origin — want to go out and work with a university, who would that be?” Pitla said. “We have been doing ag research for more than 100 years, and we’re an ag state.

“Why reinvent the wheel somewhere else when we already have all this experience?”

It helps, Ge said, that Nebraska U “sits very, very nicely in that intersection” of multidisciplinary expertise and force-multiplier collaboration that the rigors and relentlessness of space will demand. The university-housed Daugherty Water for Food Global Institute, the recent recipient of a $19 million grant to pursue sustainable irrigation and mechanization in developing countries, has long endeavored to grow more food with less water. Ge’s own research into ag-relevant sensors is likewise informing more precise, efficient application of fertilizer and water, both of which will prove even more precious in space than on Earth. Pitla has spearheaded the engineering and testing of Flex-Ro, an autonomous planter that can already seed a 5-acre, untilled field on its own.

“Before humans go to Mars, we’ll want some essential resources there — and for that, we will send robots,” Pitla said. “Think about a greenhouse on a spaceship that’s landed on Mars, and it’s already started growing food. You need a fully automated, robotic farmer that is doing those things even before humans arrive.”

The Department of Agronomy’s work in plant genetics, meanwhile, gets applied at the Greenhouse Innovation Center, where a combination of infrared cameras and AI-powered imaging analysis has accelerated the breeding of crop varieties that endure amid temperature extremes and drought.

“The only difference between that and what we’ll be doing in space is, well, nothing,” said David Jones, a member of the team and professor of biological systems engineering. “Space is just another one of those extreme environments.”

In assembling their consortium, the engineers were careful not to overlook the value of related but less obvious expertise. They invited multiple colleagues from the Nebraska College of Law, which has emerged as an international leader in the thorny, unprecedented realm of legality and ownership in space. And they folded in faculty from the Johnny Carson Center for Emerging Media Arts, whose ability to conceptualize the future has already given the engineers and scientists plenty to chew on.

“If it’s not going to work here,” Jones said of a space ag center, “it’s not going to work.”



Nebraska Corn Statement on Commerce Lowering Duties on Phosphate Fertilizer

The U.S. Department of Commerce announced last week, it was lowering duties placed on phosphate fertilizers imported from Morocco from 19.97% to 2.12%. The decision comes after the agency conducted an administrative review of the duties, which is performed annually by retroactively examining the price of shipments and other factors. Nebraska Corn Growers Association Chairman, Andy Jobman, testified to the International Trade Commission and spoke on a panel in Washington, D.C., relaying concerns about fertilizer tariffs and addressing the need for the reevaluation of the duties. As it stood, the negative implications for producers were determinantal to their operations.

“Nebraska Corn appreciates the change in duties for phosphate fertilizers,” said Chris Grams, President of the Nebraska Corn Growers Association. “The Nebraska Corn Growers Association and Nebraska Corn Board have been at the forefront of this issue at the beginning, raising concerns about the petition from the Mosaic Company, calling on a review of the duties and standing up for producers who need the financial relief of lower duties. We appreciate the steps taken for producers across the nation, but especially in Nebraska.”  



2023 Nebraska Farm Bureau Silver Eagle Award Honors Nebraska’s first AITC Statewide Coordinator

Nebraska Farm Bureau has selected Ellen Hellerich as the 2023 recipient of its highest honor, the Silver Eagle Award. Hellerich has spent a lifetime breaking down the complexities of agriculture for students and teachers in classrooms across the state of Nebraska. Hellerich served as the statewide program coordinator for the Nebraska Agriculture in the Classroom (AITC) program from 1984 to 2011.

“For 27 years, Ellen developed AITC resources tied to state education standards to support teachers in connecting their students to their source of food, fiber, and fuel – agriculture. She conducted workshops and agricultural tours for teachers, worked with education majors at colleges and universities, and led student activities at festivals and expos, to increase awareness of the importance of agriculture. She created the Ag Pen Pal Program, which, over time, has connected more than 100,000 students with a Nebraska farmer or rancher,” said Mark McHargue, Nebraska Farm Bureau president.

Being the statewide AITC Program Coordinator was more than just a job for Hellerich. She had a natural talent for bringing agriculture and education together in a classroom for teachers and students. Her strong passion for agriculture kept her involved in AITC after her retirement.

“Ellen served as a consultant for the American Farm Bureau Foundation. In that position, Ellen developed curriculum materials for teachers to use with the Agriculture Book of the Year, which she helped to select. She also contributed to the National AITC Conference for several years. Ellen contributed to the first agricultural exhibits at the Lincoln and Hastings Children’s Museums. She provided exhibit consulting and programming at the Omaha Children’s Museum,” McHargue said.

During Ellen’s tenure with the AITC program, she worked to publish the children’s book “Why the Brown Bean was Blue” by Susan M. Pankey. She created “Putting the Pieces Together: Nebraska Agriculture Production Map” and helped design crop cards that correlate with the map. This eventually became the Nebraska Interactive Map Project, which is used by many classrooms today. The Nebraska Farm Bureau Foundation would not be the successful organization it is today without the strong start provided by Ellen Hellerich.

“Ellen was at the forefront of integrated learning or bringing several classroom subject areas together into a single activity or unit. She was also a champion for including hands-on learning opportunities for students. She has demonstrated outstanding leadership, provided exemplary service to Nebraska agriculture, and has left her mark on thousands of students and teachers in Nebraska. We are proud to recognize Ellen Hellerich as the 2023 Silver Eagle Award recipient,” McHargue said. The Silver Eagle Award will be presented during the Nebraska Farm Bureau Annual banquet Tuesday, Dec. 5 in Kearney.

Ellen and her husband Gary farm near Valparaiso and are longtime Lancaster County Farm Bureau members as well as donors to the Nebraska Farm Bureau Foundation and the NEFB- PAC. They grow corn and soybeans in rotation and raise Black Angus cattle.

Ellen and Gary raised children who stayed connected to agriculture. They have three grown children: Terri, Koren, and Vaden. Their children and spouses and grandchildren have pursued education and careers in veterinary medicine, food science and technology, meat distribution, livestock environmental compliance, and farm financial services. The Hellerich’s have six grandchildren and one great grandchild.



ISU Beef Quality Assurance (BQA) Workshop June 27

Beef producers are invited to attend a Beef Quality Assurance workshop to become Beef Quality Assurance certified or to renew their certification.  ISU Extension and Outreach will offer the training on November 16 from 1:00 p.m. to 3:00 p.m. at the ISU Western Research and Demonstration Farm near Castana. There are several reasons to attend a Beef Quality Assurance training – to maintain market access with major packers, to learn about important changes and new technologies in cattle production and management, and to maintain consumer confidence in the beef they consume.  The training is offered at no cost.  Registration is required by November 14 and may be made by calling ISU Extension and Outreach Monona County at 712-423-2175.  For those who cannot attend an in-person session, Beef Quality Assurance training is available on-line.  For more info, contact Beth Doran, ISU Extension and Outreach Beef Specialist at doranb@iastate.edu or phone 712-737-4230.



PRF Trends
Matthew Diersen, Risk & Business Management Specialist, South Dakota State University

Pasture, Rangeland, and Forage Rainfall Index insurance (PRF) continues to gain popularity. PRF is insurance against low precipitation that may be correlated with reduced feed production. PRF has subsidized premiums that cover either haying or grazing with a scaler to adjust productivity for a specific sub-county region. The deadline to purchase the coverage for calendar year 2024 is December 1, 2023. Here are some trends related to this product.

Nationally, the acres insured by PRF have grown rapidly from about 50 million acres in 2016 to almost 300 million acres in 2023. The level is beginning to approach the upper bound for all pasture and forage acres, which was less than 500 million acres according to the 2017 Census of Agriculture. For 2023 the coverage or insured amount was just below $6 billion. The acres covered are somewhat concentrated within southwestern U.S. states. Nevada, Arizona, and Texas each had about 40 million acres covered. Texas stands out as having over $1 billion in liability, more than twice that of any other state. Florida is a slight outlier with over 2 million acres covered.

In South Dakota, the product has been discussed and its effectiveness debated for several years. Use or adoption has been less consistent compared to the national trend. However, from 2022 to 2023 there was a large increase in coverage from 4.3 to 6.3 million acres. For perspective, there are about 25.5 million acres of all pasture and forage acres in the state. PRF was more commonly used for grazing than haying in South Dakota, with 5.9 million acres covering grazing uses. PRF competes with Forage Production insurance and Noninsured Disaster Assistance Program (NAP) coverage for alfalfa and grass hayland. In South Dakota producers tend to purchase PRF at the 90 percent level, while coverage is more evenly split between 90 percent and 85 percent nationally. The subsidy rate is at its lowest level at the 90 percent coverage level at 51 percent of the premium.

The effect of the subsidy becomes apparent when a large enough area is tracked for a long enough period. The full premiums should reflect the cost to attract enough risk-adjusted capital to provide the insurance. If those returns were, for example, 10 percent, then the indemnity payments would approach 90 percent of the collected premiums. If over 50 percent of the premium is a subsidy, then the indemnity payments would approach $1.80 for every $1.00 paid by producers. From 2007 through 2022, at the national level, the producer premiums paid in has been $2.6 billion, while the indemnity level paid out has been $5.8 billion. That equates to PRF paying out $2.20 for every $1.00 paid in by producers. When reduced to a smaller area the payout can be much smaller. For example, over the same time in South Dakota, the payout has only been $1.64 for every $1.00 paid in.



2023 Farm Service Agency County Committee Elections Open This Week

The U.S. Department of Agriculture (USDA) will begin mailing ballots this week for the Farm Service Agency (FSA) county and urban county committee elections to all eligible agricultural producers and private landowners across the country. Elections are occurring in certain Local Administrative Areas for these committee members who make important decisions about how Federal farm programs are administered locally. Producers and landowners must return ballots to their local FSA county office or have their ballots postmarked by Dec. 4, 2023, for those ballots to be counted.

“County committees provide an opportunity for producers to play a meaningful role in delivering farm programs. In order for county committees to be effective, they must truly represent all who are producing,” said FSA Administrator Zach Ducheneaux. “Voting in these elections is your opportunity to help ensure our county committees reflect the diversity of the communities they serve. If you receive a ballot in the mail, I hope you’ll take a few minutes to cast your vote, drop it in the mail or return it to your local office. Your voice and vote matter.”

Producers must participate or cooperate in an FSA program to be eligible to vote in the county committee election. A cooperating producer is someone who has provided information about their farming or ranching operation to FSA, even if they have not applied or received program benefits. Additionally, producers who are not of legal voting age, but supervise and conduct farming operations for an entire farm, are eligible to vote in these elections.

For purposes of FSA county committee elections, every member of an American Indian Tribe is considered an agricultural landowner if the land on which the tribal member’s voting eligibility is based is tribally owned or held in trust by the U.S. for the Tribe, even if the individual does not personally produce a crop on that land. Tribal agricultural landowners 18 years and older can contact their local FSA county office to register to vote.

Each committee has from three to 11 elected members who serve three-year terms, and at least one seat representing a Local Administrative Area is up for election each year. Committee members help ensure inclusive representation on committees and equitable administration of FSA farm programs in their jurisdiction. Based on stakeholder feedback, over the past year FSA has worked to reimagine county committees to be more diverse and more representative of the communities they serve. Some efforts include the Secretarial appointment of 93 minority members to committees lacking adequate representation and the digitization of maps for producers to easily identify their Local Administrative Area. This tool can be found at fsa.usda.gov/elections.

Ballots must be postmarked or delivered in person by close of business Dec. 4, 2023, to be counted. Newly elected committee members will take office Jan. 1, 2024. Producers can find out if their Local Administrative Area is up for election and if they are eligible to vote by contacting their local FSA county office. Eligible voters who do not receive a ballot in the mail can request one from their local FSA county office.



Ag Lender Survey: Liquidity, Farm Income Top Ag Lender Concerns for Producers in 2023

Liquidity has become the primary concern among agricultural lenders for their producer customers followed closely by farm income levels, according to the 2023 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, more commonly known as Farmer Mac (NYSE: AGM and AGM.A). Rising input costs, previously ranked as the top concern in 2021 and 2022, dropped to the third highest this year, according to the report released today at the ABA Agricultural Bankers Conference in Oklahoma City.

“After a record-setting year of farm income, producers have experienced some margin compression in 2023 and lenders are taking notice,” said Jackson Takach, Farmer Mac’s chief economist. “During economic cycle transitions, the fundamentals are increasingly important, and I think that’s why you see lenders rank balance sheet liquidity and farm income levels as their top concerns facing producers in the coming year.”

“Despite margin compression, agricultural credit quality remained strong in 2023,” said Tyler Mondres, senior director of research at ABA. “Lenders expect a return to trend for credit quality in the coming year, which was reflected in a moderate increase in concern for ag loan deterioration. While lenders are taking prudent risk management steps in response, such as reviewing underwriting standards and loan terms, they are prepared to continue providing critical support to America’s farmers and ranchers.”

The annual survey—now in its eighth year—provides insight from agricultural lenders to gauge overall industry sentiment on the farm economy, expectations on land values, prospects for the coming year and issues facing the broader economy. Responses represent a range of institutions by size—from less than $50 million in assets to more than $1 billion—and by geography. Key findings from this year’s survey report include:

Top Lender Concerns for Producers
Liquidity and farm income returned to the top of the list of lender concerns for producers. Concerns about other inflationary pressures (rising interest costs), the No. 1 concern in 2022, fell to the third greatest overall concern for producers in 2023. Recession risk remained a middling concern for lenders despite worries about an economic slowdown over the coming year.

Top Overall Concerns for Lenders
The various impacts of a rising interest rate environment were a common theme in the 2023 survey. Accordingly, interest rate volatility remained the No. 1 perceived concern facing lending institutions in 2023. Lender competition along with credit quality were the second and third greatest overall concerns, respectively.

“After the Fed hiked rates 425 basis points in 2022 and an additional 100 basis points in 2023, it is no surprise that interest rate volatility remained the No. 1 concern facing ag lenders’ institutions,” Mondres said. “While elevated rates have not depressed loan demand, it drove deposit costs to a decade-long high for ag banks in the second quarter of 2023.”

Sector Concerns
Respondents' level of concern for dairy and swine increased in 2023. More than half of respondents ranked their level of concern for dairy a four out of five or higher and nearly a quarter expressed similar concern for swine, up from 28% and 15%, respectively, in 2022. In comparison, concern levels declined by a notable amount for fruits and nuts and beef cattle.

Profitability Expectations
Ag lenders estimate that more than three-quarters of their borrowers will remain profitable in 2023 and two-thirds will remain profitable through 2024. However, there was greater dispersion in responses regarding the level of overall farm profitability. Only 28% of lenders reported an increase in borrower profit margins, down from 66% last year. Lenders expect farm income compression over the next 12 months, with 70% projecting a decline in farm profitability.

Land Value and Cash Rent Expectations
Farmland values continued their upward march in 2023. Lenders’ perceptions of farmland values showed an increase of 11% in 2023, with some variation across regions. However, several tailwinds have turned to headwinds as incomes have declined and interest rates have increased. As a result, most lenders expect land values will remain stable over the next year. Cash rents, meanwhile, have been slower to increase and could rise further in 2024.

Credit Quality
Survey respondents across all regions reported lower ag loan delinquencies and charge-off rates in 2023. However, lenders expect credit quality to deteriorate in the coming 12 months, reverting to historic levels. Consistent with this expectation, more than two-fifths of respondents reported tightening underwriting standards and loan terms in 2023 (up from 30% and 22%, respectively, in 2022).

Loan Demand
Ag lenders reported an increase in demand for both loans secured by farmland and agricultural production loans increased in 2023. Respondents anticipate that loan demand for both categories will continue to increase over the next 12 months.

Approval Rate
Lenders reported an average agricultural loan application approval rate for new loans of 86% in the 12 months leading up to August 2023 and expect the approval rate for renewal requests to be 89% in the following 12 months.

About the Survey
The annual ABA and Farmer Mac Agricultural Lender Survey report is a joint effort to provide a look at the agricultural economy and market forces from the unique perspective of ag lenders. More than 260 agricultural lenders completed the survey between Aug. 1 and Sept. 1, 2023. The responses came from a diverse set of institutions, ranging from those with under $50 million in assets to those with more than $1 billion in assets. Regionally, the responses were somewhat concentrated in the Corn Belt and Plains.

ABA and Farmer Mac have been working together for more than a decade to offer the financial and educational tools bankers need to serve their agricultural customers.

To view the full Agricultural Lender Survey Report, please visit aba.com/agsurvey.



American Angus Association® concludes a strong fiscal year

The American Angus Association® concluded a successful fiscal year, filled with industry-leading advances, reflection on the breed’s U.S. history and camaraderie among its membership. As a whole, 2023 marked the ninth-consecutive year of more than 300,000 registrations, with an additional 138,377 transfers. Regular and junior memberships totaled 21,981.

“This year is a milestone year for the breed, being the 150th anniversary of Angus cattle arriving in America,” said Mark McCully, chief executive officer of the Association. “All those years later, Angus cattle and cattlemen are thriving, and we are encouraged by our strong year.”

With the 150th anniversary of Angus cattle in the United States also comes the 140th anniversary of the Association. Its subsidiaries, Angus Genetics Inc. (AGI®), Angus MediaSM, Certified Angus Beef and the Angus Foundation, also celebrated the kickoff or completion of major projects.

AGI® continued to put themselves at the forefront of their field, helping breeders achieve their goals and serving as a trusted industry source for advanced genetics solutions. In October, the Functional Longevity research EPD was released in an ongoing effort to improve the long-term success and profitability of herds. Also that month, AGI® was recognized on an international scale for its work on the World Angus Evaluation and its successful release. In another effort for continued improvement, AGI® processed an increased number of more than 200,000 genomic samples on behalf of the membership and saw a 4.7% increase in profile tests. With 206,956 additional genomic profiles now available for genetic evaluation, AGI® plans to continue the momentum in the new fiscal year.

Angus MediaSM recently welcomed Clay Zwilling as its new president. In the early months of his leadership, the Angus Journal ® ended the year with 13,000 subscriptions and the Angus Beef Bulletin ® has 65,000 readers. Throughout the year, they also developed 509 sale books and 201 brochures. The Angus MediaSM team continues to develop and enhance their products and publications – both for print and the digital landscape – while remaining at the top of their field.

Celebrating a 45-year anniversary, Certified Angus Beef sold 1.227 billion pounds of its branded beef with 18,000 licensed partners worldwide in more than 50 countries. Overcoming tight cattle supplies and record high prices, McCully said the brand continues to deliver on a promise of premium quality to consumers around the world.

During the fiscal year, the Angus family continued to pour their support into the Angus Foundation’s mission of education, youth and research. This year, 138 scholarships, totaling $350,625, were awarded to youth across the nation. Campaign initiatives including “A Legacy Built” and “Fund the Future” contributed to a total of $1.279 million in donations from more than 700 donors – 227 of which were new donors. The impact of these dollars will be felt for generations.

As the value of Angus cattle continues to rise, The Association has continued its Powered by AngusSM advertising campaign. Combatting “black-hided confusion,” the campaign illustrates the confidence cattlemen can put in the power of EPD data, documented pedigrees, and marketing programs with the purchase of registered Angus. Another nod to the power of verified genetics came as AngusLinkSM value-added programs experienced tremendous growth. After beginning its partnership with IMI Global, year-end enrollments reached 165,428 head of cattle with $17.8 million in premiums paid to producers this fiscal year.      

To view the 2023 Angus Annual Report and to view the Association’s complete financial report, visit https://bit.ly/AngusAR23.



Shifting Consumer Demand for Dairy Foods Fuels Butterfat Boom

The long-term demand trends for dairy products indicate butter, cheese and other full-fat dairy foods will continue to grow in sales and volume for the foreseeable future. U.S. consumers have shifted away from margarine and reduced fat dairy foods over the last decade as nutritional science surrounding saturated fats has evolved. As a result, butterfat levels in the national milk supply have risen sharply in response to changing demand patterns and dairy market dynamics.   

According to a new report from CoBank’s Knowledge Exchange, the butterfat boom will continue as the entire dairy supply chain is capturing additional value from milk with higher fat and protein levels. The economic incentives for a supermajority of the nation’s dairy farmers are firmly in place to produce milk with more butterfat.

“Despite the significant growth in domestic butterfat production over the last decade, there is still tremendous upside potential, largely because the U.S. remains a milk fat-deficit nation,” said Corey Geiger, lead dairy economist with CoBank. “Butter imports into the U.S. have skyrocketed over the last decade to meet the surging domestic demand for full-fat dairy products. Also, due to strong domestic demand, the U.S. barely exports any of its butterfat. As a result, low-fat, skim-solids product exports far outpace full-butterfat products.”

Full-fat dairy and other animal products fell out of favor beginning in the 1970s over reported health concerns. However, nutrition research in the past 15 years suggests full-fat dairy has a much more nuanced role–and potentially protective effect–on health. Consumers responded to the evolving science quickly, triggering what has proven to be a long-term shift to previously tabooed dairy foods like butter.

There was a time when U.S. milk and butterfat production were synonymous. When measured by pounds, milk and butterfat production mirrored one another from 1995-2010, each growing a collective 24%. But milk and butterfat production have since decoupled. From 2011-2022, milk pounds shipped from U.S. farms grew 15%. However, butterfat pounds shipped from those same farms grew 27%.

Dairy producers have steadily increased butterfat content levels in milk through innovations in feeding programs and the use of genomic testing programs. Genomic tests can reveal 70% of the genetic ability of a young calf years before it becomes a milk cow. The science has expedited genetic gains in the U.S. dairy cow herd and dramatically shifted butterfat composition in recent years.

Geiger said the overall market picture for butterfat is quite clear, with tremendous growth potential both domestically and ultimately via the export market.

“The reality is that consumers are eating rather than drinking their dairy these days,” said Geiger. “And they are increasingly favoring full-fat dairy foods over reduced fat options. That means continued innovation in things like premium butter, butter spreads and further development in the butter board phenomenon will bring value to producers, processors and consumers alike.”



Smithfield Foods Donates $25,000 to Support Military Missions in Action

Smithfield Foods recently donated $25,000 to support Military Missions in Action, a nonprofit organization dedicated to assisting veterans in need, members of all armed forces, and their families.

The donation will support the organization’s Homes for Healing program, which provides new or gently-used furniture and household goods to veterans, active-duty servicemembers and families in need of establishing housing stability.

“We owe a debt of gratitude to our veterans for their service on behalf of our country,” said Steve Evans, vice president of community development for Smithfield Foods. “Smithfield is committed to helping veterans transition back to civilian life and strengthening their community and family support systems. We’re honored to partner with Military Missions in Action to help at-risk military families get back on their feet.”  

“Military Missions In Action is blessed to partner with a world-class organization that uniquely understands the needs of veterans and their families,” said Greg Gebhardt, executive director at Military Missions in Action. “Housing affordability continues to impact our veteran community, and we look forward to continuing to collaborate with Smithfield to improve the lives our nation’s heroes. Together, we all stand stronger.”

Military Missions in Action will use Smithfield’s $25,000 donation to purchase household items including furniture, appliances, dishes, cutlery, linens, bedding, lighting and electronics to deliver to veterans in need.

In October, representatives and volunteers from Military Missions In Action and Smithfield Foods delivered furniture to the home of Illisha Lear, a disabled veteran who recently moved to Laurinburg, North Carolina, with her four children after serving in the U.S. Army. Read more here.

Smithfield honors the service and sacrifice of American veterans and their families through its Helping

Our Heroes program, which includes hiring initiatives, career development and programs to strengthen the community and family support systems veterans rely on. The company also supports veterans through its employee business resource group, Smithfield Salutes, which provides resources for existing employees with prior military service.



CLAAS Celebrates Fifty Years of the JAGUAR Self-Propelled Forage Harvester with Limited Edition Packages

In celebration of 50 years of its iconic JAGUAR forage harvester, CLAAS of America has introduced special equipment packages on various models. While all 2024 JAGUAR forage harvesters are considered “anniversary editions,” all models ordered with the Operator Comfort Package (a $874 option) will receive a special 50th Anniversary graphics and accessory package at no additional cost. Select PREMIUM LINE and MAXI CARE packages are also available.

The JAGUAR line paved the way for an unprecedented success story in the self-propelled forage harvester segment when it launched 50 years ago in Germany and has been a leader in the category ever since. Featuring many innovations over the years, the JAGUAR attained not only a worldwide reputation but also world market leadership. Today, the JAGUAR remains the top choice for farmers and contractors around the world with more than 45,000 units manufactured thanks to its outstanding kernel processing technology, efficient drive systems, straight crop flow and high reliability.

"For 50 years, the JAGUAR has stood for innovation, efficiency, productivity and reliability and is surely second to none in terms of the mark it has made on the forage harvester segment throughout five decades", said Dominik Grothe, senior vice president, self-propelled harvesters. "However, CLAAS does not just owe its position as world market leader to technological advances and superior customer service, but also to the developers and the feedback from our customers.”

The introduction of the all-new JAGUAR 800 model series in 1994 marked a major development that took CLAAS into a new dimension of performance and underlined its claim to technological leadership. Today, the flagship model JAGUAR 990 is available with a TERRA TRAC undercarriage and delivers up to 925 hp. CLAAS exclusive features such as the CAM PILOT for automatic steering during pick-up work to reduce operator fatigue and simplify the lives of countless operators.

The evolution of the CLAAS JAGUAR:
    1994: Introduction of the JAGUAR 800 with transverse engines, up to 481 hp and an 8-row corn header to the North American market. The same year sees the 10,000th JAGUAR built by CLAAS. It marks the start of the tradition of special paint finishes to celebrate JAGUAR production landmarks.
    1998: CLAAS builds the 15,000th JAGUAR featuring a sensational airbrush artwork.
    2001: Model change and a new flagship in the form of the JAGUAR 900 with 605 hp.
    2003: JAGUAR SPEEDSTAR approved for 25 mph (40 km/h) road travel.
    2004: Production of the 20,000th JAGUAR.
    2006: Launch of the JAGUAR 900 GREEN EYE with up to 623 hp.
    2008: Launch of the all-new JAGUAR 900 model series with DYNAMIC POWER and many automatic functions.
    2009: The 25,000th JAGUAR is a JAGUAR 980 with twin engine and 830 hp.
    2011: CLAAS builds the 30,000 JAGUAR with a special black paint finish.
    2012: Integrated NIR sensor system allows precise dry matter yield measurement and other constituents, such as crude ash, crude fibre and sugar precisely for each area harvested.
    2014: Update of the JAGUAR 800 series with greater comfort, greater efficiency and greater performance.
    2017: The new-generation JAGUAR 900 features a continuously variable front attachment drive and a new chassis concept.
    2019: CLAAS launches the JAGUAR 900 TERRA TRAC with innovative tracks and introduces CEMOS AUTO PERFORMANCE for automatic engine power adjustments for better fuel efficiency.
    2019: The 40,000th JAGUAR forage harvester leaves the production plant in Harsewinkel.
    2020: New ORBIS corn headers combine a working width of up to 9.00 m with integrated transport protection for greater driver comfort and safety.
    2023: Celebration of 50 years of JAGUAR forage harvester with special equipment packages.

1973 – 2023: 50 years of the CLAAS JAGUAR – this period has seen more than 45,000 self-propelled JAGUAR