Tuesday October 31 Ag News

Lower Elkhorn NRD Board of Directors Approves Dump Trailer Purchase, Discuss Upcoming Open Houses

At their monthly Board meeting on October 26, 2023, the Lower Elkhorn Natural Resources District (LENRD) Board of Directors approved the purchase of a 14’ Dump Trailer for use at Maskenthine Recreation Area.

Tyler Warren, Recreation Area Superintendent, presented the received bids to the Directors and explained that staff was recommending the bid from DB Trailer Sales. Because of their local manufacturing, DB Trailer Sales stood out from the competition. Dimensions inside the trailer are 14’Lx82”W. There is a 7’x20’ roll up mesh tarp, barn door/spreader gate, and ramps are included.

Open House Meetings Planned for the North Fork Elkhorn River Flood Risk Reduction Plan
Brian Bruckner, LENRD General Manager, reminded Directors of the upcoming open houses for the North Fork Elkhorn River Flood Risk Reduction Plan. The North Fork Elkhorn River watershed spans approximately 242,563 acres and includes the communities of Foster, Magnet, McLean, Osmond, Pierce, Plainview, and Wausa. The meetings are being hosted by the LENRD in partnership with the Natural Resources Conservation Service (NRCS).

The first meeting will be held on Monday, November 6th from 5:30 p.m. – 7:30 p.m. at Osmond City Hall, 413 N. State Street, Osmond, NE. The second meeting will be held on Wednesday, November 8th from 5:30 p.m. – 7:30 p.m. at the Pierce County Fairgrounds Pavilion, 622 N. Brown Street, Pierce, NE 68767.

No formal presentations are planned; however, both LENRD and JEO Consulting Group representatives will be present to help explain the project and answer questions. The purpose of the open houses is to provide an overview of the project and collect input regarding flood-related experiences and concerns within the watershed.  As each meeting will feature the same information, community members are invited to attend the meeting that is most convenient or works best for their schedules.

Status Update on Search for New Production Well for Logan East Rural Water System (RWS) and Possible Funding Options to Connect the Village of Craig
Shawn Blahak, Logan East RWS Manager, provided a status update on the search for a new production well for the Logan East RWS. In an effort to find a location for an additional production well, Blahak explained that he has been trying to secure locations for additional sampling on irrigation wells. Doing this will help identify potential areas to secure a spot for additional test/monitoring wells. Adding an additional production well will not only be a benefit for the Logan East RWS but will also solve a Manganese issue for the Village of Craig.

To provide additional context, General Manager Brian Bruckner explained that staff is currently exploring grants to assist with bearing the costs of the project. “Through the Emergent Contaminants and Socially Disadvantaged Communities Grant Program (EC-SDC) there is an opportunity to receive some substantial grant funds to help bear the costs of hooking up Craig; potential costs for a well; potential costs for a transmission line; and potential costs for a storage tank.”

When exploring the option of applying for the grant, the historical nitrate levels in the current Logan East RWS production wells caught the attention of the Nebraska Department of Environment and Energy (NDEE). Though nitrate level trends have been within the range that is acceptable for public water systems, a change in the way the wells are sampled would lead one to believe that they have recently taken a steep increase. The system currently has three wells and a blended sample from the three wells was once submitted to gather data. About two years ago, the process changed and requires individual sampling of each well, even though all three of the wells are used in a series to maintain system demands. Though the Logan East RWS does not utilize any form of treatment for the water, the raw product that they deliver to their customers is safe for consumption.

Moving forward, District and Water System Staff will be working with the Logan East Advisory Committee and Board of Directors to develop a long-term plan to avoid compliance issues due to elevated groundwater nitrates.  This effort will not only provide a possible solution for the Village of Craig but will ensure the long-term success and viability of the Logan East Rural Water System as a whole.

This was a non-voting item.

Application Cutoff for Natural Resource Conservation Funds Approaching – November 17th
In a monthly report provided by Robin Sutherland, NRCS/USDA District Conservationist, she gave a reminder of the November 17th cutoff for EQIP (Environmental Quality Incentives Program) applications.

Farmers and ranchers interested in preventing erosion, improving soil health, conserving water and wildlife, or making other natural resource conservation improvements to their property are encouraged to apply now for funding available from the USDA Natural Resources Conservation Service (NRCS).

Individuals interested in applying for these conservation programs may do so at any time, but applications need to be submitted by November 17th to be considered for Fiscal Year 2024 funding.

For more information about conservation programs and other assistance available, contact your local NRCS field office or visit www.nrcs.usda.gov/NE

To learn more about the 12 responsibilities of the Nebraska’s NRDs and how your local district can work with you and your community to protect your natural resources, visit www.lenrd.org and sign up for our monthly emails. The next board of directors meeting will be Tuesday, November 21, 2023 at the LENRD office in Norfolk at 7:30 p.m. and on Facebook Live.



TESTING HAY
– Ben Beckman, NE Extension Educator

While we as producers do all we can in season to store up quality hay, nutrient value in hay can change drastically from year to year.  Even in the same field cut at a similar time, annual swings of 5% crude protein content and 10% TDN are not uncommon.  With crop residues like cornstalk bales, we may have a smaller swing in nutrient differences, but a drop from 5% CP to 3% can have a big impact on supplement strategies and need. When it comes time to feed this winter, knowing what quality hay you have can mean the difference between over or underfeeding hay and/or supplement. Ultimately, differences can affect the bottom line as well as have negative consequences for herd health and fertility.

Testing hay isn’t hard, it just takes a bit of time and planning.  The first step is to get a quality hay probe.  Next, divide your hay into lots, bales that were harvested from the same field under similar conditions.

Sample 15-20 bales per lot, using the probe on the side that will capture the most layers.  For round bales, sample from the rounded side; for squares, sample the shorter front or back end.  Mix these samples from a lot together in a bucket and take out a quart sized Ziploc bag worth.  Label the final sample with the hay type, lot number, and producer name and address and store in a cool, dry place until you can send it to your lab of choice for analysis.  To avoid your sample sitting in the mail, ship during the first part of the week so the lab can begin processing before the weekend shutdown.

Testing hay can take a bit of time, but accurately knowing the value of forages this winter can save money and help when it’s time to make decisions about providing supplemental feed.  If you haven’t done so yet, now’s the time to test before winter sets in.



HPAI Confirmed in a Commercial Turkey Flock in Buena Vista County
 
The Iowa Department of Agriculture and Land Stewardship and the United States Department of Agriculture (USDA) Animal and Plant Health Inspection Service (APHIS) have confirmed a positive case of highly pathogenic avian influenza (HPAI) in Buena Vista County, Iowa.

The affected site is a commercial turkey flock.

Commercial and backyard flock owners should prevent contact between their birds and wild birds. Sick birds or unusual deaths among birds should be immediately reported to state or federal officials. Biosecurity resources and best practices are available on the Iowa Department of Agriculture and Land Stewardship website. If producers suspect signs of HPAI in their flocks, they should contact their veterinarian immediately. Possible cases must also be reported to the Iowa Department of Agriculture and Land Stewardship at (515) 281-5305.

According to the U.S. Centers for Disease Control and Prevention, the recent HPAI detections in birds do not present a public health concern. It remains safe to eat poultry products. As a reminder, consumers should always utilize the proper handling and cooking of eggs and poultry products, including cooking to an internal temperature of 165˚F.



Iowa Corn is a Proud Supporter of Pork

As we round out Porktober, Iowa Corn is proud to celebrate its support of the pork industry. Pigs are the top livestock consumer of corn grown here in Iowa and generate economic and nutritious benefits for all Iowans. Through continued partnerships with organizations like the Iowa Pork Producers Association and the U.S. Meat Export Federation (USMEF), Iowa Corn can continue to expand markets and educate consumers on corn-fed products.

“Iowa is number one in both pork and corn production in the country, which makes these two commodities an economic driving force throughout the state,” said Mike Ver Steeg, a corn and pork producer from Inwood, Iowa and the Iowa Corn Animal Agriculture and the Environment Committee Vice Chair. “Iowa Corn invests with our partners to ensure pork is a part of the plate here in Iowa, the U.S., as well as the global table. As farmers, we put an emphasis on the work we do together to add value to the commodities we grow and produce.”

By investing in programs such as USMEF, Iowa Corn works to expand markets for red meat exports. In 2022, USMEF shows beef and pork exports accounted for 503.4 million bushels of U.S. corn usage, which equated to a market value of $3.4 billion and provided an economic impact of $1.01 of bushel value to corn (at an average corn price of $6.75 per bushel).

“Iowa Corn’s mission is to increase long-term profitability for Iowa’s corn farmers and the market development programs in collaboration with our livestock partners does just that.” To learn more about the red meat exports’ value to corn visit usmef.org.



Registration Open for Integrated Crop Management Conference

The Integrated Crop Management Conference is set for Dec. 4-5 in a new location: The Meadows Events Center at Prairie Meadows in Altoona. The conference provides crop production professionals new information, research updates and the tools to prepare for 2024.

Now in its 34th year, the annual event is hosted by Iowa State University Extension and Outreach and the College of Agriculture and Life Sciences. This year’s conference features 35 workshops to choose from.

“The ICM Conference has always been a great opportunity for farmers, industry, ag retailers, agronomists and educators to network with each other and interact with their university specialists,” said Erin Hodgson, professor and extension entomologist with ISU Extension and Outreach. “We are excited to offer a great program full of new information to prepare for 2024, including a strong slate of invited speakers.”

Speakers and discussion topics
    Doug Jones, U.S. Environmental Protection Agency, will share updates on the EPA’s Endangered Species Act and pesticide efforts, as well as participate in a panel discussion to answer further questions.
    Dennis Bowman, University of Illinois Urbana-Champaign, will share information on how drones are transforming aerial agriculture applications.
    Daniel Kaiser, University of Minnesota, will provide a Minnesota view of iron deficiency chlorosis in soybean.
    Alex Lindsey, Ohio State University, will share how early planting dates affect crop stands.
    Brian McCornack, Kansas State University, will give updates on an insect pest currently on the move.
    Dan Quinn, Purdue University, will review the effects of wildfire smoke and heat stress on corn.
    Aaron Hager, University of Illinois Urbana-Champaign, will discuss better weed control in 2024.

“We are particularly excited to host representatives from the EPA and U.S. Fish and Wildlife Service to hear more about the EPA’s plans for meeting their Endangered Species Act obligations,” said Meaghan Anderson, extension field agronomist. “The panel discussion will be valuable for all attendees who apply pesticides or work with farmers who do in order to prepare for inevitable changes to labeling.”

Additional topics include weather and crop market outlooks, equipment and technology management, climate resilience, soil moisture status, conservation practices, farmland values, and weed and crop disease management updates.

The conference is approved for up to 14 continuing education credits for Certified Crop Advisers. The program is also approved for Iowa commercial pesticide applicator continuing education in categories 1A, 1B, 1C and 4 for 2023.

To register, visit the ICM Conference website at www.aep.iastate.edu/icm. Pre-registration is required to attend. Early registration is $250 and ends at midnight, Nov. 17. After Nov. 17, the fee increases to $300, and registrations will be accepted until midnight, Nov 27. No registrations will be accepted at the door.

For registration questions, contact ANR Program Services at anr@iastate.edu or 515-294-6429.




CME Announces Resetting of Price Limits for Grain, Oilseeds

Effective Oct. 31, for trade date Nov. 1, 2023, the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange Inc. (CME) will reset price limits for grain, oilseed and lumber futures, according to a recent news release.

"This is the second of the two price limit resets in 2023 that is stipulated by the variable price limits mechanism pursuant to each product's respective Rulebook Chapter," stated the news release.

Corn futures price limit will go from 45 cents per bushel to 35 cents, with extended price limit at 55 cents. Oats futures price limit will go from 25 cents per bushel to 30 cents, with extended price limit at 45 cents.

Soybean futures price limit will go from $1.05 per bushel to 95 cents, with extended price limit at $1.45. Soybean oil futures price limit will stay at 40 cents per pound, with extended price limit at 60 cents. Soybean meal futures price limit will go from $30 per ton to $25, with extended price limit at $40.

Chicago wheat futures and Kansas City wheat futures price limit will go from 60 cents per bushel to 50 cents, with extended price limit at 75 cents. All other price limits affected can be found in the link below.

In 2014, CME Group put a new percentage-based daily price limit procedure in CBOT grain and oilseeds products, including corn, soybeans, CBOT wheat, Kansas City wheat, soybean meal, soybean oil, oats and rough rice.

CME noted, "The new methodology is a more flexible, transparent and market based price-limit setting mechanism. It would allow price limits to expand under high prices, but also allow price limits to retract when prices fall."

Basically, the new variable price limit mechanism will allow higher limits when prices are high and lower limits when prices are low. "The new variable price-limit mechanism resets price limits in each of the CBOT grain and oilseed futures contracts every six months, with the first reset date being on the first trading day in May," according to the CME.



Harvest Prices for 2023 Crop Insurance

The average daily close of the December corn futures contract was $4.88 during October, while the November soybean contract was $12.84 per bushel.

The averages are an important piece of price discovery that underpins many crop insurance policies, which use the higher of either the harvest price or the spring projected price to calculate indemnity payments. The projected prices are an average of the new-crop futures contracts' closes during February. They came in at $5.91 per bushel of corn and $13.76 per bushel of soybeans.

For corn, this breaks a three-year streak of higher corn prices at harvest.

USDA estimates it cost $5.13 to raise a bushel of corn in 2023, compared to $12.53 per bushel of soybeans. USDA will release cost of production estimates for 2024 in mid-November.



September Prices Received Index Down 2.9 Percent

The September Prices Received Index 2011 Base (Agricultural Production), at 122.6, decreased 2.9 percent from August and 7.1 percent from September 2022. At 113.9, the Crop Production Index was down 4.2 percent from last month and 11 percent from the previous year. The Livestock Production Index, at 133.1, decreased 0.9 percent from August, and 2.6 percent from September last year. Producers received lower prices for corn, hogs, soybeans, and lettuce during September, but higher prices for broilers, milk, grapes, and broccoli. In addition to prices, the volume change of commodities marketed also influences the indexes. In September, there was decreased marketing of cattle, wheat, cotton, and peaches and increased monthly movement for soybeans, corn, dry beans, and apples.

Crop production: The September index, at 113.9, is 4.2 percent lower than August and 11 percent lower than September 2022. The grain & oilseed and vegetable & melon index decreases more than offset the other crop and fruit & tree nut index increases.

Grain and oilseed: The September index, at 96.3, is down 5.9 percent from August and 18 percent from September 2022.

Feed grain: The September index, at 87.7, decreased 9.2 percent from last month and 26 percent from a year ago. The corn price, at $5.21 per bushel, is down 52 cents from last month and $1.88 from September 2022.

Food grain: At 101.6, the index for September decreased 1.5 percent from the previous month and 15 percent from a year ago. The September price for all wheat, at $7.07 per bushel, is 28 cents lower than August and $1.71 lower than September 2022. The September price for rice, at $16.60 per cwt, is $2.60 lower than August and $1.10 lower than September 2022.

Oilseed: At 105.6, the index for September decreased 6.1 percent from August and 7.0 percent from September 2022. The soybean price, at $13.20 per bushel, is 90 cents lower than August and $1.00 lower than September a year earlier.

Other crop: The September index, at 117.3, is up 4.9 percent from the previous month but down 11 percent from September 2022. The all hay price, at $204.00 per ton, is down $5.00 from August and $44.00 from September 2022. At 76.3 cents per pound, the price for upland cotton is 0.1 cents lower than August and 9.6 cents lower than September 2022.

Livestock production: The index for September, at 133.1, decreased 0.9 percent from the previous month and 2.6 percent from September a year earlier. Meat animal index decreases more than offset dairy and poultry & egg index increases.

Meat animal: At 142.4, the September index decreased 3.5 percent from the previous month but increased 17 percent from a year earlier. At $64.90 per cwt, the September hog price is $8.80 lower than August and $8.90 lower than a year earlier. The September beef cattle price of $181.00 per cwt is $1.00 lower than the previous month but $38.00 higher than September 2022.

Dairy: The index for September, at 104.5, is up 6.6 percent from the previous month but down 13 percent from September a year ago. The September all milk price of $21.00 per cwt is $1.30 higher than August but $3.10 lower than September 2022.

Poultry and egg: At 137.8, the September index increased 2.4 percent from August but decreased 27 percent from September 2022. The September broiler price, at 66.4 cents per pound, is 4.2 cents higher than August but 6.9 cents lower than a year ago. The September market egg price, at 94.5 cents per dozen, is 15.5 cents lower than August and $1.67 lower than September 2022. At 82.0 cents per pound, the September turkey price is 2.0 cents lower than the previous month and 38.0 cents lower than September 2022.

Food Commodities: The index, at 131.2, decreased 2.2 percent from the previous month and 3.6 percent from September 2022.

September Prices Paid Index Up 0.1 Percent
The September Prices Paid Index for Commodities and Services, Interest, Taxes, and Farm Wage Rates (PPITW), at 138.8, is up 0.1 percent from August 2023 but unchanged from September 2022. Higher prices in September for feeder cattle, feeder pigs, diesel, and nitrogen more than offset lower prices for feed grains, complete feeds, concentrates, and hay & forages.



High School Seniors, Apply Now for Soy Scholarship

Strong agriculture leaders are vital to the sustainability and growth of our industry, and the American Soybean Association wants to provide a student interested in agriculture with a college scholarship as they begin their education.

The Soy Scholarship is a $7,000, one-time award presented to a high school senior who plans to pursue agriculture as an area of study at any accredited college or university in the 2024-25 academic year. The scholarship is managed by ASA and made possible through a grant by BASF Corporation.

“ASA is grateful for its longstanding partnership with BASF and proud to invest in the future farmers, scientists, teachers, and other careers in agriculture that drive the industry forward,” ASA President Daryl Cates (IL) said. “Agriculture has a significant role to play in sustainably feeding a growing world population, shaping climate policies, and many other ways we support and provide for people here at home and around the globe. Supporting education is imperative to industry advancement, and we applaud the dedicated young people who are interested in this challenge.”

ASA and BASF have recognized and rewarded students for their hard work and interest in agriculture through the Soy Scholarship since 2008.

“BASF is pleased to continue our longstanding partnership with ASA to support talented students committed to solving the challenges facing the future of agriculture,” said Scott Kay, vice president, U.S. Agricultural Solutions North America. “Our industry needs students passionate and interested in meeting the demands of a growing planet, and BASF is thrilled to invest in these students’ future.”

The scholarship is awarded in $3,500 increments (one per semester) for the 2023-24-school year. The student must be a child or grandchild of a current state soybean association/ASA member, maintain successful academic progress and remain in good standing with the college or university to receive the full amount of the scholarship. High school seniors may apply online Oct. 31-Dec. 31, 2023. Click here to apply.

A committee of soybean grower-leaders will select the ASA BASF Scholarship recipient. The award winner will be announced this winter.



Registration is Now Open for USDA’s 100th Agricultural Outlook Forum

The United States Department of Agriculture (USDA) announced today the opening of registration for the 100th Annual Agricultural Outlook Forum. This landmark event, titled “Cultivating the Future,” will be held in person at the Crystal City Gateway Marriott in Arlington, Va., on February 15-16, 2024. All Forum sessions will also be livestreamed on a virtual platform.

“As we reflect on a century of agricultural progress, we’re not just celebrating our achievements, we're also preparing for an even better future,” said Secretary of Agriculture Thomas Vilsack.

“The 2024 Forum underscores USDA’s commitment to fostering innovation, sustainability, and resilience in the sector and serves as a platform for bringing together minds dedicated to advancing America’s agriculture.”

The 2024 Forum program will feature a keynote address by Agriculture Secretary Tom Vilsack, a presentation on the outlook for agricultural markets and trade by USDA Chief Economist Seth Meyer, a plenary panel of distinguished guest speakers, and 30 breakout sessions covering a wide range of timely agricultural, food market, and environmental issues. More than a hundred experts from government, industry, and academia will share insights on topics such as commodity and food price outlooks, U.S. and global agricultural trade developments, agricultural innovations, climate change, and the bioeconomy.

The in-person event will also feature exhibit booths from agencies across USDA highlighting their missions and activities.

Future Leaders Program
The Future Leaders in Agriculture program is an academic competition focused on identifying college students from land-grant colleges and universities, Hispanic-Serving Institutions, and non-land-grant colleges of agriculture, who have the skills and experience to be tomorrow’s leaders in agriculture. This year, 20 students in agriculture-related fields of study (15 undergraduate students and five graduate students) will be selected to participate in this program in Washington, D.C. The program will include meetings with leaders from across USDA and agricultural staff on Capitol Hill, networking opportunities with fellow student participants and USDA staff, and full participation in the 2024 Agricultural Outlook Forum. All transportation, lodging, meals, and conference registration fees are covered for the students selected. Apply today.

About USDA’s Outlook Forum
USDA’s Agricultural Outlook Forum began in 1923 as a way to disseminate USDA data and analyses to farmers, so they had the tools to understand markets and make informed production decisions. Over time, the event has evolved into a unique platform where key stakeholders from the agricultural sector in the United States and around the world come together every year to discuss current and emerging topics and trends in the sector.

The Agricultural Outlook Forum, organized by USDA’s Office of the Chief Economist together with other USDA agencies, is independent of commercial interests and aims to facilitate information sharing among stakeholders and generate the transparency that supports more, better, and fairer markets for producers and consumers alike.



Hefty Seed Company Selects Meristem’s Patented BIO-CAPSULE™ Technology

Meristem Crop Performance Group, LLC (www.MeristemAg.com) and Hefty Seed Company (www.HeftySeed.com) today announced a strategic alliance and supply agreement focused on increasing the impact of beneficial biologicals on crop production and return on investment (ROI) for American farmers.

“Hefty Seed Company’s stellar reputation for bringing the best in crop inputs and agronomic advice to help farmers make the most of every crop is second to none,” says Mitch Eviston, Founder and CEO of Meristem Crop Performance, in announcing the alliance. “We are thrilled to be selected as a Hefty Seed Company go-to-market partner for delivering beneficial biologicals to their customers through our patented BIO-CAPSULE™ Technology.”

With this new alliance, Hefty Seed will gain access to Meristem’s patented BIO-CAPSULE for the delivery of its proprietary blend of microbes and micronutrients. This agreement is a first of its kind for the technology.

“Finding a way to deliver biology, along with micronutrients and other bio-stimulants, in a talc delivery system to our customers is one of our key areas for growth,” says Matt Thompson, Hefty Naturals Brand Manager. “It is very easy to damage living biology with micronutrients and other bio-stimulants, and by keeping the biology away from any potential harm until the grower needs it, it increases consistency of the product’s performance.”

Thompson explained that as growers upgrade planters, fewer and fewer are investing in in-furrow capabilities.

“Using the BIO-CAPSULE to deliver our yield-improving products opens our customers to a new avenue to use these products,” he says. “This is an extremely exciting partnership for our customer base that will continue to advance the Hefty Naturals portfolio.”



 AGCO Reports Third-Quarter Results

AGCO, Your Agriculture Company (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, reported its results for the third quarter ended September 30, 2023. Net sales for the third quarter were approximately $3.5 billion, an increase of 10.7% compared to the third quarter of 2022. Excluding favorable foreign currency translation of 3.5%, net sales in the quarter increased 7.2% compared to the third quarter of 2022. Reported net income was $3.74 per share for the third quarter of 2023, and adjusted net income (1) , which excludes restructuring expenses, transaction-related costs and costs related to a completed divestiture, was $3.97 per share. These results compare to reported net income of $3.18 per share and adjusted net income (1) , which excluded restructuring expenses, of $3.18 per share for the third quarter of 2022.

“Robust demand for our technology-rich products, driven by healthy crop production, favorable farm economics and an improving supply chain, generated record third quarter results,” stated Eric Hansotia, AGCO’s Chairman, President and Chief Executive Officer. “The continued success of our Farmer-First strategy, focused on growing our precision ag business, globalizing a full-line of our Fendt branded products and expanding our parts and service business, is generating strong growth in these margin-rich businesses and helping position AGCO for another record year.”

“Furthering our Farmer-First mindset, we recently announced the planned acquisition of Trimble’s ag assets and technologies through the formation of a joint venture with Trimble. We believe that this transaction, when combined with our existing solutions, will strengthen our precision ag leadership position and create a global leader in mixed-fleet precision ag. This transaction should significantly enhance AGCO’s technology stack with disruptive technologies that cover every aspect of the crop cycle, which ultimately helps us better serve farmers no matter what brand they use and accelerates AGCO’s strategic transformation,” Hansotia added.

Third Quarter Highlights
Net sales for the first nine months of 2023 were approximately $10.6 billion, an increase of 21.2% compared to the same period in 2022. Excluding unfavorable currency translation impacts of 0.7%, net sales for the first nine months of 2023 increased 21.9% compared to the same period in 2022. For the first nine months of 2023, reported net income was $11.10 per share, and adjusted net income (1) , which excludes restructuring expenses, transaction-related costs, costs related to a completed divestiture and an estimated cost of participation in a Brazilian income tax amnesty program, was $11.77 per share. These results compare to reported net income of $7.58 per share, and adjusted net income, excluding restructuring expenses, impairment charges and other related items, of $7.95 per share, for the first nine months of 2022.