Friday March 15 Ag News

Nebraska Soybean Board to meet

The Nebraska Soybean Board will hold its next meeting on March 19-20, 2024 at the Embassy Suites located at 1040 P Street, Lincoln, Nebraska.

Among conducting regular business, the Board will review FY25 production research proposals and other new opportunities. The meeting is open to the public and will provide an opportunity for public discussion. The complete agenda for the meeting is available for inspection on the Nebraska Soybean Board website at www.nebraskasoybeans.org.

The nine-member Nebraska Soybean Board collects and disburses the Nebraska share of funds generated by the one-half of one percent times the net sales price per bushel of soybeans sold. Nebraska soybean checkoff funds are invested in research, education, domestic and foreign markets, including new uses for soybeans and soybean products.



RICKETTS EARNS BACKING OF RENEWABLE FUELS NEBRASKA

Today, Renewable Fuels Nebraska announced its endorsement of Senator Pete Ricketts for United States Senate.

“As our Governor and now in the United States Senate, Pete Ricketts has been a leader in promoting policies that benefit renewable fuels – which, in turn, benefit Nebraskans,” said Tony Leiding. “Senator Ricketts understands supporting biofuels will lower energy costs, strengthen our energy security, and increase demand for Nebraska corn and soybeans.”

Ricketts highlighted how biofuels benefit numerous sectors of Nebraska’s economy, while also making America more energy-independent.

“Renewable fuels are a common-sense approach to delivering clean, reliable, and affordable energy. They also provide jobs for Nebraskans and a new market for farmers to sell soybeans and corn,” Ricketts stated. “We increase our nation’s energy security by promoting energy made right here in Nebraska. I will continue to be a voice for policies to allow biofuels to prosper.”

Ricketts highlighted his sponsorship of the bipartisan Flex Fuel Fairness Act, legislation leveling the playing field for biofuels like ethanol, and the bipartisan Consumer Fuel Retailer Choice Act, legislation allowing year-round, nationwide sales of ethanol blends like E-15.
 
“The Biden administration continues favoring impractical electric vehicle mandates over an all-of-the-above energy approach that would include biofuels, a clean form of energy we can produce right here in Nebraska,” Ricketts stated. “I’m standing for biofuels with two bipartisan pieces of legislation – the Flex Fuel Fairness Act and Consumer Fuel Retailer Choice Act. Both pieces of legislation allow renewable fuels to prosper by allowing them to compete on an even playing field.”



ISU Extension Dairy Team Webinar on April 2 to Focus on Muscle Weakness Genetic Defect in Holstein Calves

The Iowa State University Extension and Outreach Dairy Team monthly webinar series continues Tuesday, April 2, from 12 noon to 1 p.m. The program will help Holstein breeders understand the muscle weakness genetic defect in Holstein calves.

Dr. Chad Dechow, Associate Professor of Dairy Cattle Genetics at Penn State will outline the newly identified genetic defect in Holstein calves officially named Early Onset Muscle Weakness Syndrome (MW). MW affects Holstein calves' ability to stand.

Dechow will discuss the emergence of genetic defects, the discovery of the MW mutation, clinical signs of MW, and prognosis.

Producers, dairy consultants, and industry reps are encouraged to attend the free webinar live from 12 noon to 1 p.m. on April 2. Registration must be completed at least one hour prior to the program. Register online at https://go.iastate.edu/HOLSTEIN.

For more information, contact the ISU Extension and Outreach Dairy Field Specialist in your area: in Northwest Iowa, Fred M. Hall, 712-737-4230 or fredhall@iastate.edu; in Northeast Iowa, Jennifer Bentley, 563-382-2949 or jbentley@iastate.edu; in East Central Iowa, Larry Tranel, 563-583-6496 or tranel@iastate.edu; in Ames, Dr. Gail Carpenter, 515-294-9085 or ajcarpen@iastate.edu.



Deere to lay off 150 workers at Iowa plant

Deere & Co. will lay off 150 workers at an Iowa manufacturing plant as the agriculture equipment giant weathers declining demand for farm machinery.

The tractor giant said on Wednesday that approximately 150 production employees at John Deere Des Moines Works in Ankeny, Iowa, will be let go throughout April and May.

“Each John Deere factory balances the size of its production workforce with the needs of the individual factory to optimize the workforce at each facility,” according to a Deere spokesperson. Leadership informed workers of the layoffs on Friday.

Around 1,700 people work at the facility, with the majority in production and maintenance jobs. The factory manufactures sprayers, cotton pickers and other heavy machinery.

After three years of record demand, Deere is preparing for large ag equipment sales to decline by up to 15% in fiscal year 2024. Worldwide net sales and revenue dropped 4% in the first quarter, according to the company’s latest earnings report.

The manufacturer recently presented plans to city officials for a 20,000-square-foot lab building and is currently expanding the Ankeny plant’s sprayer facility. According to Deere, Both projects are still moving forward.



USGC’s 2023 Annual Report Goes Live

The U.S. Grains Council’s (USGC’s) 2023 Annual Report is now live on grains.org.

Staff in each of the Council’s offices have found ways to Grow the Future of the Council this year, connecting with buyers of U.S. corn, sorghum, barley, distiller’s dried grains with solubles (DDGS) and ethanol in their markets to develop markets, enable trade and improve lives.

“As we wait to see what the Regional Agriculture Promotion Program (RAPP) could mean for the Council, we are ready, willing and already getting down to doing the hard work it takes to keep established markets open, open new markets and keep trade happening for the commodities you grow going strong as we head into a bright future beyond today, this year and for years to come,” said President and CEO Ryan LeGrand and USGC Chairman Brent Boydston in a joint letter.

The 2023 report highlights events that affected all Council staff and members: successfully inaugurating the Council’s office in India, the success of Global Ethanol Summit, issuing records of sustainability globally and ramping up the industrial starch and aquaculture programs.

Beyond worldwide successes, visitors can read about commodity-specific wins for corn, sorghum, barley, DDGS and ethanol and get details of and developments regarding projects and programs in each country and region around the world in which the Council operates.

Viewers can visit the report’s web page to view the entirely electronic report, which is housed in an interactive platform. Members should have also received the link to this year’s report in their email along with the financials.

“We are pleased to issue the Council’s annual report, a great snapshot of the Council’s dynamic programming and major wins throughout 2023,” said USGC Director of Communications Bryan Jernigan. “As members and others peruse it, we are confident our mission of developing markets, enabling trade and improving lives will be clearly evident from the hard work we’ve done over the last year.”

The Council’s financial report for the 2022/2023 fiscal year, and the complete set of highlights from the year can be found at grains.org/2023-annual-report.



USDA Announces $40.5 Million in Grant Awards to Support Processing and Promotion of Domestic Organic Products
 
The U.S. Department of Agriculture’s (USDA) Agricultural Marketing Service (AMS) today awarded approximately $40.5 million for 60 grant projects through the Organic Market Development Grant program. These projects will support the development of new and existing organic markets, support the infrastructure to improve processing capacity, explore emerging technologies to promote organic products, and purchase equipment to help meet the increasing demand for organic commodities. USDA anticipates the projects funded through this program will benefit more than 27,000 producers and over 31.8 million consumers by increasing organic market opportunities. USDA Deputy Secretary Xochitl Torres Small and Under Secretary for Marketing and Regulatory Programs Jenny Lester Moffitt made the announcement today at Natural Products Expo West in Anaheim, Calif.

"Farmers who choose to grow Organic often access new, more and better markets," said Agriculture Deputy Secretary Torres Small. "At USDA, we are committed to making it easier for farmers who make that choice through programs like the Organic Market Development Grant Program, which supports farmers and increases access to fresh, healthy foods. Today's announcement is just one of the many ways President Biden is investing in rural people and a more resilient food system."

“This round of awards through the Organic Market Development Grant program will address critical needs within the nation’s growing organic industry – funding projects that further our goals of creating and expanding markets for producers,” said Under Secretary Moffitt. “The program is a key component of USDA’s Organic Transition Initiative and will increase value added agricultural opportunities for organic producers in rural America.”

In May 2023, USDA announced a total of $75 million available through the Organic Market Development Grant program to increase the availability and demand for domestically produced organic agricultural products and to address the need for additional market paths. This second round of Organic Market Development Grant awards for the market development and promotion, simplified equipment-only, and processing capacity expansion project types is funded by the Commodity Credit Corporation. In January 2024, USDA announced $9.75 million for the first round of awards through this program. USDA will make the final award announcement for this program in the coming months.



High Quality, High Producing Land Remains in High Demand
Tom Schutter, Area Sales Manager - Central Region, Farmers National Company

The first quarter of 2024 saw a decline in the volume of land sales through Farmers National Company. While such a drop tends to be typical for this time of year, values have struggled to maintain the resiliency seen in 2023.

Before 2024, land sales remained stable. While farmland is still a strong and solid asset, outside pressures like lower commodity prices and higher interest rates push profit potential down over time and lead to a softening in values.

The number one impact on land values, overall, is still commodity prices. When profit potential is cut in half, the result typically ends up being a retraction in buying power.  

For example, we tracked the local cash price difference over the past year at New Cooperative in Blairsburg, Iowa. Over that one-year timespan, there was a loss of nearly $2.95/bushel on cash corn and $3.65/bushel on cash soybeans. Although prices have rebounded since then, the loss in revenue potential impacts operations.

The same thing goes for buyers who are highly leveraged. The interest rate pressure is slow but consistent and, over time, eats away at working capital. The gap between those with cash on hand earning 6%+ interest and those borrowing and operating at 9-10% interest widens. As interest expense increases, the impact on land values eventually will be seen. With each sale, we see fewer and fewer buyers willing to invest at the higher prices we’ve seen for the last two years.

So, what does this mean for the future? Despite these adverse effects, the high-quality, high-producing land remains in high demand. Where we have and will continue to see the most change is with recreational or lower quality land. The profit potential is less or more variable on those properties, and those farms will be impacted the most moving ahead.

As a seller, now more than ever it’s important to consult with your trusted local advisors to fully understand your farmland value and its relation to the local market. Some landowners have wondered if they should wait and sell this fall. It’s important to remember that if we do see a rally in the grain markets, and we are at more profitable levels, we should then also expect to see a greater supply of land on the market. With that in mind, the best time to sell is when you are ready, and consulting with one of our experienced agents at FNC is vital in making the best decision for you and your operation.



New Law Protects American Farmland and Food Security
Mark Eisele, President of the National Cattlemen’s Beef Association and Wyoming rancher  

In Washington, there is a little-known government board called the Committee on Foreign Investment in the United States (CFIUS). Its purpose is simple—review foreign transactions for their national security implications in the U.S.—but today this committee has new importance for protecting America’s farmland and food security.

The committee was first created by President Gerald R. Ford in 1975 and consisted of several cabinet officials including the Secretaries of State, Treasury, Defense, Commerce, the Attorney General, the U.S. Trade Representative, the Chairman of the Council of Economic Advisors, and the Director of the Office of Management and Budget. CFIUS was designed to be a central group that would review foreign investments, analyze developments, and make recommendations to the President. Over the years, the committee’s work would be shaped by changing legislation, but its core function makes a lot of sense. After all, we wouldn’t want a foreign power to buy out the American companies that build our military’s ships, planes, or tanks.

CFIUS is currently chaired by the Secretary of the Treasury and the U.S. Treasury Department is responsible for reviewing proposed acquisitions. If a purchase by a foreign company raises alarm bells, the President has the power to step in and block a transaction that might harm national security.

Today, we face new threats to our country that also pose a risk to American agriculture. As farmers and ranchers, we know that we cannot have national security without food security. The food we provide supports our fellow citizens and powers our military. Hunger also creates tremendous unrest. The foreign acquisition of agribusinesses and farmland has raised alarm bells in recent years. The National Cattlemen’s Beef Association (NCBA) believes farmers and ranchers should have a seat at the table, starting with the Secretary of Agriculture. The agriculture appropriations bill signed into law by President Biden formally adds the Secretary of Agriculture to CFIUS as a permanent member, ensuring that this critical national security board always has a voice who represents America’s agricultural community.

NCBA has long pushed for this representation. Last September, we backed Rep. Frank Lucas’ (R-OK) Agricultural Security Risk Review Act to add the Agriculture Secretary to CFIUS. Two years ago, NCBA was at the White House for the signing of a national security memorandum that directed top government officials to identify threats to the food and agriculture sector and develop effective responses. NCBA will continue to work to ensure the federal government recognizes food security as national security.

The U.S. cattle industry faces many threats, from cyberattacks to foreign animal disease, and adding the Secretary of Agriculture to CFIUS is an important step forward for strengthening our security. Now, we have a permanent seat at the table and an advocate for protecting American agriculture from foreign national security risks. On behalf of NCBA, thank you to Rep. Lucas, our supporters in Congress, and to the White House for standing with America’s cattle producers.



Meat Institute Unveils New Logo and Brand Identity

Celebrating nearly 120 years of leadership on behalf of America’s meat companies, the Meat Institute (formerly the “North American Meat Institute”) today unveiled a new logo and brand identity reflecting its dynamic, forward-looking approach to ensuring meat remains at the heart of nourishing the present and sustaining the future.

The new logo evokes the shape of a plate, with the open frame indicating transparency and inclusiveness. The varying thickness of the plate’s border brings a sense of movement, signaling constant evolution and pursuit of continuous improvement.

The new brand identity will be featured at the Annual Meat Conference March 18-20 in Nashville.

Meat Institute President and CEO Julie Anna Potts commented:

“Sustaining meat’s future is central to the Meat Institute’s mission and vision, building on our 120 years of leadership and meat’s centuries of contributions to healthy diets and strong communities. Our updated logo is fresh, open, and keeps meat at the very center of nourishing today and sustaining tomorrow.”

In addition to the new logo, elements of the Meat Institute’s brand evolution include:

New brand colors: The logo is composed of a dark blue that provides solidity and weight to the association’s name and history, with a fresh new Meat Institute Blue serving as the primary framing color. New brand colors also include an energetic pastel blue and a modern orange accent that serves as an updated nod to the association’s previous maroon brand.

New brand purpose statement: The Meat Institute’s brand identity will include a new tagline that summarizes the association’s mission and purpose - “Nourishing Today. Sustaining Tomorrow.”