Tuesday February 20 Ag News

Nebraska Farmers Union 111th Annual State Convention to be Held at River’s Edge Convention Center in Columbus

At their recent Board of Directors meeting, the Nebraska Farmers Union (NeFU) Board selected the River’s Edge Convention Center in Columbus for their 111th Annual State Convention to be held December 6-7. Participants will elect officers, set policy, conduct the organization’s business, and hear from speakers on issues facing agriculture.  For more information, contact the state office.

The Nebraska Farmers Union block rates for rooms is $125 for Queen and $115 for King rooms. Call (402) 564-1492 to book rooms, and be sure to mention you are with Nebraska Farmers Union. The block of rooms cut off date is November 20th, at which rooms will be available on a first come first served basis. Complimentary hot breakfasts and free parking are included with the room rates.

NeFU President John Hansen said “Our organization is looking forward to returning to Columbus for our State Convention. It is important that our members attend and participate in the operation of their general farm organization at all levels, local, state, and national. The Rivers Edge Convention Center is an excellent facility, easily accessible, outstanding food and services, and the facility has been recently updated. We will hear from speakers addressing the topics of the day, set our state policies, and conduct our elections.”

Delegates will elect three delegates and alternates from Nebraska to the National Farmers Union Convention to be held in Oklahoma City, Oklahoma March 9-11, 2025.  Delegates will also elect NeFU Board of Directors in Districts 2, District 4, and District 6 to three-year terms.  In addition, NeFU general membership and District Presidents’ representatives to the NeFU Foundation Board of Directors will be elected.

Graham Christensen, NeFU District 6 Board of Director from Lyons said, “District 6 is pleased to host this year’s State Convention. District 6 runs from Platte County on the west to the Missouri River on the east, and from Sarpy County on the south to Thurston County on the north. Columbus is home to many agricultural manufacturers and NPPD, and Platte County to a lot of livestock and row crop production along with direct marketing operations of all sizes. District 6 includes Omaha, the state’s largest city, the home of the Winnebago Tribe, and some of the best farm ground in the world. We encourage everyone involved in agriculture to attend our State Convention and meet family farm advocates and producers who believe in the need to protect our soil and water resources for future generations.”



Naig Applauds Senate Passage of Foreign Ownership of Farmland Legislation

Iowa Secretary of Agriculture Mike Naig released the following statement today following Iowa Senate passage of the legislation that strengthens Iowa's foreign ownership of farmland law:

“Iowa’s prohibition on the foreign ownership of agricultural land will continue to be a model for other states, especially with the additional deterrence, disclosure and enforcement tools that are being incorporated through passage of Senate File 2204. I applaud the Iowa Senate for quickly and overwhelmingly passing this legislation and look forward to the Iowa House sending this bill to Governor Reynolds for her signature in the near future.”



Farmers interested in niche markets encouraged to attend Iowa Farm Bureau's Acres of Opportunity conference

Beginning farmers know the substantial initial investment it takes to farm, and those who currently farm are facing a projected 25% cut in their net farm income compared to last year. These situations have prompted interest in niche opportunities that require less land or can complement an existing family farm. To meet this rising interest, Iowa Farm Bureau Federation’s Acres of Opportunity conference provides a space to learn from and network with farmers who have taken a diversified path.

The conference is slated for March 16 at the Bridge View Center in Ottumwa and will cover niche areas such as specialty meats, small grains, flower farming, regenerative grazing and more. Industry experts will also be present to talk about beginning farmer loans, branding opportunities and e-commerce.

Keynoting the event is Sarah Frey, CEO and founder of Frey Farms, the nation’s leading grower, shipper and marketer of fresh fruits and vegetables. Described by New York Times as “America’s Pumpkin Queen,” Frey’s empire began as a simple produce route that expanded into contracts with Wal-Mart following her acquisition of her family’s farm. She now owns farmland in seven states and has her own watermelon juice business, Tsamaa (pronounced sah-mah), which uses up “ugly” watermelons that would otherwise be thrown out at the consumer level. Frey will share the importance of learning from each other’s challenges and drawing on the inspiration all around us.

“One of the most valuable things this conference provides is that inspiration to see what is possible,” says Amanda Van Steenwyk, Iowa Farm Bureau’s farm business development manager. “What seems unattainable today can move toward being less frightening when you can hear from others who have done it, what obstacles they faced and the success they’ve had by taking a leap.”

Registration is free for Farm Bureau members and $60 per person for non-members. Register online by March 3 and view a full agenda at www.iowafarmbureau.com/acres.



Ethanol Industry Generated $54 Billion in GDP, Supported 400,000 Jobs in 2023

As inflationary pressures eased and demand boomed for low-carbon ethanol and its co-products, the ethanol industry’s contribution to the U.S. economy remained strong in 2023, according to an annual economic impact analysis conducted for the Renewable Fuels Association by ABF Economics.

In 2023, more than 72,400 U.S. jobs were directly associated with the ethanol industry, with an additional 322,000 indirect and induced jobs supported across all sectors of the economy. The industry created $32.5 billion in household income and contributed just over $54.2 billion to the nation’s gross domestic product—the second-highest GDP contribution ever. As a result, an estimated $10.4 billion in tax revenue was generated for federal, state and local governments. Returns over operating costs averaged an estimated $0.47 per gallon, almost doubling the average operating margin from 2022, according to the report.

“The U.S. ethanol industry is proud of the enormous contribution it makes to our nation’s economic vitality and environmental well-being,” said RFA President and CEO Geoff Cooper. “After dealing with surging inflation and a global energy crisis in 2022, the ethanol industry saw far more stability in 2023—both in the marketplace and across the policy and regulatory landscape. As we look ahead to new markets and new opportunities, we know the industry’s positive impact on the economy and environment will only continue to expand.”

The 2023 report also shows that the industry spent nearly $39 billion on raw materials, other inputs, and goods and services to produce ethanol last year, with corn purchases alone accounting for nearly $32 billion. The study also provides a breakdown of the industry’s economic impacts in major ethanol-producing states in 2023. Notably, in Iowa, which accounts for roughly one-quarter of U.S. ethanol capacity, the industry supported over 100,000 jobs.  

“The ethanol industry continued to make a significant contribution to the economy in terms of GDP, job creation, generation of tax revenue, and displacement of crude oil and petroleum products in 2023,” the report concludes. “The importance of the ethanol industry to agriculture and rural economies is particularly notable. Growth and expansion of the ethanol industry as it applies new technologies and addresses new markets will enhance the industry’s position as the original creator of green jobs and will enable America to make further strides toward reducing greenhouse gas emissions and positively dealing with climate change.”



Livestock, Dairy, and Poultry Outlook: February 2024
For 2024, Exports as a Share of Production Projected To Shift Slightly
USDA Economic Research Service

In 2023, beef exports accounted for 11.3 percent of production. In 2024, the share is projected lower at 10.6 percent. For pork, 25.0 percent of production was exported in 2023; the share is projected at 25.4 percent for 2024. Broiler exports were 15.7 percent of production in 2023 and are projected slightly lower at 15.4 percent in 2024. Turkey exports made up 9.0 percent of production in 2023 but are projected to increase to 9.5 percent in 2024.

Summary
Beef/Cattle: The semiannual Cattle report confirms historically tight supplies of cattle heading into 2024. Fewer calves are available than last year for placement in feedlots, although more than previously expected. As a result, anticipated fed cattle marketings have been raised for late 2024, but the marketings are offset by lower anticipated cow slaughter. With more steers and heifers in the slaughter mix, average carcass weights were raised in second-half 2024. From last month, projected beef production in 2024 is raised 75 million pounds to 26.185 billion pounds. Cattle prices in 2023 are raised on firm demand and lower feed costs. Based on estimated weekly import data, this year’s import forecast is expected to set a record at 4.125 billion pounds. Export projections are unchanged at 2.785 billion pounds.

Sheep/Lamb: The 2024 January 1 inventory report for sheep and goats was released at the end of January. The total lamb and sheep inventory declined by -1.9 percent from the previous year. December supply and use estimates for 2023 have been incorporated into this report. Forecasts for 2024 lamb and mutton imports and exports are lower than the January 2024 forecasts.

Dairy: The milk production estimate for 2024 is lowered from last month; lower expected yield per cow more than offsets higher expected milk cow numbers. Wholesale price forecasts for 2024 have been increased for Cheddar cheese, dry whey, butter, and nonfat dry milk to $1.690, $0.480, $2.770, and $1.235 per pound, respectively, based on recent strength in prices, tight supplies, and stronger expected domestic demand. With higher dairy product prices expected across the board, Class III and IV milk price forecasts for 2024 have been raised to $17.10 per hundredweight (cwt) and $20.20 per cwt, respectively. The 2024 all-milk price estimate is adjusted higher to $20.95 per cwt.

Pork/Hogs: Strong demand for pork bellies contributed to a year-over-year higher wholesale cutout value in January, supporting processors’ gross spreads at above year-earlier levels for the month. Improved demand for pork compared with 2023—from both domestic and foreign consumers of U.S pork—is expected to support hog prices in 2024. Total exports for 2024 are raised to 7.1 billion pounds, 3.8 percent above exports in 2023, as U.S. pork becomes more competitive compared with pork sourced from the European Union.

Poultry/Eggs: Broiler production is adjusted up in the first quarter on strong average weights. Broiler prices are adjusted up in the first half of 2024, and projected broiler exports in 2024 are adjusted down on less-competitive prices and weak international demand. Projected table egg production in 2024 is adjusted down slightly on recent losses to Highly Pathogenic Avian Influenza (HPAI). Projected egg prices are increased on recent data. Projected imports and exports of eggs and egg products are unchanged for 2024. Projected turkey production was lowered in 2024, reflecting recent placement data and losses to Highly Pathogenic Avian Influenza (HPAI). Turkey prices were adjusted down on recent data, while projected exports in 2024 were adjusted up on favorable prices and strong demand.

Read the full report here: https://www.ers.usda.gov/webdocs/outlooks/108574/ldp-m-356.pdf?v=7433.4.