Thursday March 14 Ag News

 Nebraska ag land values up 5%, according to 2024 Farm Real Estate Survey

The market value of agricultural land in Nebraska increased by 5% over the prior year, to an average of $4,015 per acre, according to the University of Nebraska–Lincoln’s 2024 Nebraska Farm Real Estate Market Survey preliminary report. This marks the third consecutive year of increases in the market value of agricultural land in Nebraska, setting another high in the non-inflation-adjusted statewide land value in the survey's 46-year history.

The report is issued annually by the university’s Department of Agricultural Economics and Center for Agricultural Profitability. It is based on a survey of land industry experts across Nebraska, including appraisers, farm and ranch managers, agricultural bankers and other industry professionals.

Land industry professionals responding to the survey attributed the rise in Nebraska agricultural real estate values to purchases for farm expansion, current livestock prices, 1031 tax exchanges, the amount of land offerings for sale, and as a hedge against inflation. Farms or ranches in strong financial positions look to expand their operations by purchasing additional land. Competition in the industry remained strong as operators faced lower land offerings available for sale.

According to Jim Jansen, an agricultural economist with the university who leads the survey and report, many operations acquired tangible assets, such as land, machinery, and equipment, to hedge against inflation and rising prices.

“The Federal Reserve's policies to slow inflation have led to agricultural real estate loans moderating around 8%,” Jansen said. “Future changes in the market value of land across the state will be tied to the profitability of farm and ranching along with long-term interest rates for financing real estate purchases.”

The survey reports market values on seven types of land by region across Nebraska, as well all-land average values for the entire state. The estimated market value of dryland cropland without irrigation potential rose 3% across the state compared to the prior year. Center pivot-irrigated cropland averaged 4% higher over 2023 while the reported value of gravity-irrigated cropland also rose by 3% statewide. According to Jansen, lower grain prices contributed to gains in cropland values moderating from the growth seen in 2023.

By Region
Northeast - $8540/acre - +6%
East - $9730/acre - +4%

Jansen also said that rising cattle prices and competition for more acres helped drive grazing land and hayland market values up by an average of 6% to 8% in the state.

The survey found that average cash rental rates for dryland and irrigated cropland are also moderating this year, compared to the rates of increase seen in recent years, experiencing between a 7% decline and 5% increase, thanks in part to lower crop prices and favorable yields across the U.S.

“Survey participants expressed concerns about drought, input expenses and water availability for the upcoming growing season in certain regions,” Jansen said. “Accounting for actual crop revenue, production expenses, or irrigation limitations might be features to consider in a flexible lease for 2024.

The 2024 Nebraska Farm Real Estate Market Survey preliminary report is available on the Center for Agricultural Profitability’s website, https://cap.unl.edu/realestate. The final report is expected to be published in June.

Two virtual workshops covering land and leasing issues, estate planning and the newly published land values and cash rental rates, will be held on March 27 and 28. The March 27 workshop is scheduled for 9 a.m. to 11:30 Central time and will be geared toward viewers in Central and Western Nebraska. The workshop on March 28 is set for noon to 2:30 p.m. Central time and will feature examples more relevant to viewers in Eastern Nebraska. Regardless of location, the general information presented in both meetings will be the same. Registration is free at https://cap.unl.edu/land24.



Land and leasing webinars to cover cash rents, landlord-tenant issues for 2024

The latest agricultural land management and leasing considerations for 2024 will be covered during two virtual landlord/tenant cash rent workshops hosted by the Center for Agricultural Profitability at the University of Nebraska-Lincoln on March 27 and 28.

The workshops, part of the center’s “So You’ve Inherited a Farm … Now What?” series, will cover Nebraska land industry topics for farms and ranches. Those include evaluating current trends in land values and cash rents, strategies for successful land transitions, lease provisions, legal considerations and managing communication and expectations among family members. Creating and adjusting estate plans will also be covered.

The presentations will be led by Jim Jansen and Anastasia Meyer, both extension agricultural economists with the Center for Agricultural Profitability.

The March 27 workshop is scheduled for 9 a.m. to 11:30 Central time and will be geared toward viewers in Central and Western Nebraska. The workshop on March 28 is set for noon to 2:30 p.m. Central time and will feature examples more relevant to viewers in Eastern Nebraska. Regardless of location, the general information presented in both meetings will be the same. Presentation materials will be mailed to participants and provided online.

The virtual workshops will be held on Zoom and are free to attend, but registration is required. Registration is at https://cap.unl.edu/land24.



Nebraska Corn Board Recognizes Agriculture Leaders at Annual Awards Dinner

Two awards were given out at the Nebraska Corn Board’s (NCB) 2024 awards dinner on March 12 in Lincoln. The annual awards event highlights outstanding contributions to the state’s corn industry. Each of the recipients has a long history of serving Nebraska agriculture.

The first recognition of the evening was the Ag Achievement Award. This honor, first presented in 1991, was designed to recognize outstanding and generous efforts to further the state’s corn industry. This year’s 2024 Ag Achievement Award was presented to Curt Friesen.

Curt Friesen has over 40 years of experience operating and managing his farm near Henderson and is a fourth-generation farmer in Hamilton County. He and his wife, Nancy, raise white corn, yellow corn and soybeans on irrigated land that now includes the fifth generation with his daughter Kori and son-in-law Jason incorporated into the operation.

Friesen has been very active in the agriculture industry in local, state and national organizations. He is an alumnus of the Nebraska LEAD program. Locally, he has represented agriculture by serving on the Hamilton County Groundwater Conservation District, Blue River Association of Groundwater Conservation Districts, Upper Big Blue Natural Resource District and the Hamilton County Corn Growers Association. On the state level, Friesen represented District 34 in the Legislature, served on the Nebraska Corn Board, has been part of the League of Nebraska Municipalities, Senator Stuhr’s Advisory Committee and the Governor’s Water Policy Task Force. Not only has Friesen represented agriculture in Nebraska, but he has also represented agriculture on the national level by serving on Congressman Tom Osborn’s Ag Advisory Committee and the National Corn Growers Association’s then Public Policy Action Team.

“Curt is a prime example of someone who has created a legacy of excellence over the years,” said Jay Reiners, chairman of NCB. “As we celebrate Curt and his accomplishments, his impact has created a movement of leadership throughout the state, even within his son-in-law involved with Nebraska Corn on the state and national levels. He deserves the 2024 award for all his achievements, especially in agriculture.”

The NCB Vision Award’s purpose is to honor individuals, industry leaders, businesses or organizations that have gone above and beyond to help NCB achieve its vision of enhancing demand, adding value and ensuring sustainability.

The recipient of the 2024 Nebraska Corn Board Vision Award is the Lindsay Corporation. Since 1955, Lindsay has been a pioneer provider of irrigation and water management solutions. From Zimmatic pivot systems to FieldNET, their portfolio is full of industry-leading products and services to help conserve resources, increase yields and benefit farmers worldwide.

Lindsay is committed to creating a more sustainable future. Their technology is designed to help growers, landowners and agronomic advisors conserve resources by equipping them with the data and insights to run their irrigation system with precision. With research and innovation to new uses, farmers are provided with top-tier technology from Lindsay.

“The Lindsay Corporation has made significant contributions to farmers across the state and world,” said Dan Nerud, District 1 director of NCB. “As farmers need to continue to use the best technology for the future, we look forward to what is to come, knowing how worthy they are to receive the Nebraska Corn Board Vision Award.”

Gustavo Oberto, Brian Magnusson, Eric Fleming and Kurtis Charling attended and accepted the award on behalf of the Lindsay Corporation.

Each award winner was identified and selected by NCB.



Saunders County Livestock & Ag Association
Monthly meeting will take place on Monday, March 18th
Valparaiso Legion Hall
6:30 Social
7:00 Supper



Attorney General Hilgers Challenges SEC Climate Rule

Nebraska Attorney General Mike Hilgers joined a multi-state coalition, led by Iowa, in a lawsuit to block the Securities and Exchange Commission’s new rule that unlawfully forces public companies to make climate-related disclosures.

"Our security depends on access to reliable energy,” stated Attorney General Mike Hilgers. “This rule goes beyond the Biden Administration’s power to further a radical climate agenda, and we filed suit today to put a stop to it."

The regulation forces public companies to disclose information on “climate-related risk,” which is not material to the Commission’s authority to curb serious abuses in the securities market. In addition to disregarding the authority given to it by Congress, the Commission based its decision on mistaken economic and scientific assumptions. The decision also violates companies’ First Amendment rights by compelling them to put forth initiatives and disclose required information.

Attorney General Hilgers joins the lawsuit led by Iowa’s Attorney General Brenna Bird. They were joined by the States of Arkansas, Missouri, and Utah.

The lawsuit was filed in the United States Court of Appeals for the Eighth Circuit.



USDA Seeks Nominees for the National Dairy Promotion and Research Board

The U.S. Department of Agriculture (USDA) Agricultural Marketing Service (AMS) is seeking nominees for the National Dairy Promotion and Research Board. The deadline for nominations is April 22, 2024.

From the nominees, the Secretary of Agriculture will appoint twelve individuals to succeed members whose terms expire Oct. 31, 2024. Newly appointed members will serve three-year terms from Nov. 1, 2024, through Oct. 31, 2027.

The USDA is seeking nominees for:
    One seat for Region 1 (Alaska, Oregon and Washington)
    Two seats for Region 2 (California and Hawaii)
    One seat for Region 4 (Arkansas, Kansas, New Mexico, Oklahoma and Texas)
    One seat for Region 5 (Minnesota, North Dakota and South Dakota)
    Two seats for Region 6 (Wisconsin)
    One seat for Region 7 (Illinois, Iowa, Missouri and Nebraska)
    One seat for Region 8 (Idaho)
    One seat for Region 9 (Indiana, Michigan, Ohio and West Virginia)
    One seat for Region 11 (Delaware, Maryland, New Jersey and Pennsylvania)
    One seat for Region 12 (Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont)

Nominees must be dairy producers who produce milk in the region for which they are nominated. The 37-member board consists of 36 dairy producers from 12 regions and one dairy importer. Nomination forms are available on the AMS National Dairy Promotion and Research Board webpage. For more information, contact Jill Hoover at (202) 720-1069 or jill.hoover@usda.gov.



I-29 Moo University April 17th webinar to focus on dairy pest control

The I-29 Moo University 2024 Dairy Webinar Series continues Wednesday, April 17 from 12 noon to 1 p.m. CST. The webinar will feature a discussion on fly control with Dr. Phillip Jardon.

Discussion will cover the four main flies that are considered pests on dairies – house flies, stable flies, horn flies, and face flies.

“These flies all have some things in common but there are big differences in where they reproduce and where they eat that guide the control methods used for each,” according to Fred Hall, dairy specialist with Iowa State University Extension and Outreach. “Join us to learn how we can use facts about flies to limit their populations.”

Dr. Jardon graduated from the Iowa State College of Veterinary Medicine. He completed his Master of Preventive Veterinary Medicine (MPVM) and Dairy Production Medicine Residency at UC-Davis.

Jardon has been in private practice and industry for 35 years with particular interest in transition cow diseases – a passion he has had since working on milk fever on his parent’s dairy for his seventh-grade science fair project. Dr. Jardon worked as a Dairy Technical Consultant with Elanco Animal Health in California for the last eleven years and is currently a Dairy Extension Veterinarian at ISU.

There is no fee to participate in the webinar; however, registration is required at least one hour before the webinar. Register online at https://go.iastate.edu/FLYCONTROL24.

For more information, contact: in Iowa, Fred M. Hall, 712-737-4230; in Minnesota, Jim Salfer, 320-203-6093; or in South Dakota, Patricia Villamediana, 605-688-4116.



North American Grain and Oilseed Crushings Summary
Combined United States and Canadian Soybeans Crushed Up 2 Percent From 2022

This publication is a result of a joint effort by Statistics Canada and USDA's National Agricultural Statistics Service to release the soybean and canola seed crushings information for both countries within one publication. United States soybean and oilseed crushings numbers for 2023 were previously released on March 1, 2024. Canadian soybean and oilseed crushings were released on January 25, 2024.

Combined United States and Canadian soybeans crushed for crude oil was 69.5 million tons in 2023, an increase of 2 percent from 2022.  Crude oil production was 27.3 billion pounds, up 2 percent from 2022.

Combined United States and Canadian canola seeds crushed for crude oil was 13.9 million tons in 2023, up 20 percent from 2022.  Crude oil production was 11.6 billion pounds, up 21 percent from 2022.



Weekly Ethanol Production for 3/8/2024

According to EIA data analyzed by the Renewable Fuels Association for the week ending March 8, ethanol production slowed 3.1% to 1.02 million b/d, equivalent to 43.01 million gallons daily and the lowest volume in six weeks. Yet, output was 1.0% more than the same week last year and 1.4% above the five-year average for the week. The four-week average ethanol production rate decreased 1.4% to 1.06 million b/d, which is equivalent to an annualized rate of 16.25 billion gallons (bg).

Ethanol stocks tightened 1.0% to a 3-week low of 25.8 million barrels. Stocks were 2.3% less than the same week last year but 5.1% above the five-year average. Inventories thinned across all regions except the East Coast (PADD 1), which marked the largest reserves since May 2020.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, inched up 0.3% to an 11-week high of 9.04 million b/d (138.64 bg annualized). Demand was 5.2% more than a year ago and 0.3% above the five-year average.

Refiner/blender net inputs of ethanol rose 0.7% to 880,000 b/d, equivalent to 13.49 bg annualized. Net inputs were 0.2% more than a year ago but 0.8% below the five-year average.

Ethanol exports were estimated at 124,000 b/d (5.2 million gallons/day), or 10.7% above the prior week. There were zero imports of ethanol recorded for the 25th consecutive week.



Record E85 Sales Save California Drivers $99 Million, Slash Carbon Emissions

The record use of lower-cost E85 in California saved the state’s drivers $99 million in 2023, while cutting greenhouse gas emissions by nearly 370,000 metric tons, a new analysis from the Renewable Fuels Association shows. A record 118.5 million gallons of E85 flex fuel, containing 85 percent ethanol, were sold last year, a 14 percent increase over 2022 and nearly double the volume of 2021.

“E85 continues to be a an increasingly popular fuel option for the Golden State,” said RFA Senior Vice President for Industry Relations and Market Development Robert White. “Thanks to the efforts of leading fuel marketers like Pearson Fuels and Propel Fuels, more Californians are taking advantage of the lowest-cost fuel available in the marketplace. By choosing E85, these drivers are making a positive impact on their communities by reducing carbon emissions and slashing the harmful tailpipe pollution that causes air quality and health concerns.”

White noted that California’s Low Carbon Fuel Standard and the federal Renewable Fuel Standard are providing a strong incentive for retailers and marketers to increase E85 sales. “The LCFS policy is certainly doing its job to stimulate demand for lower-carbon, more affordable fuels,” White said. “Now it’s time for automakers to step up and expand their flex fuel vehicle (FFV) offerings so even more drivers can enjoy E85’s economic and environmental benefits.”

According to E85prices.com, the average retail price of E85 in California in 2023 was $3.17 per gallon, compared to an average price of $5.01 per gallon for E10 gasoline—an average price discount of 37 percent. With 1.34 million FFVs on the road in California, the average FFV owner saved $74 on their annual fuel bill.

"Retail gasoline remains expensive in California,” said Doug Vind, Pearson Fuels managing member. Pearson sells E85 at 350 locations across California. “That fact, coupled with our ability to continually add stations to our network, indicates to us that we're far from reaching a peak in E85 consumption. E85 can be fully renewable, dramatically lower in carbon and meaningfully more affordable at the pump. It's what is helping California carve its path to a zero-emission future without hurting those who can't buy an EV or pay $6 for a gallon of gasoline.”

"California should be doing everything it can to encourage FFV owners to use E85,” Vind added. “Volumes are increasing while only a few hundred thousand drivers may have access to it. We need to get more FFVs on the road immediately to reduce petroleum consumption, provide consumers with relief from high gas prices and realize substantial carbon reductions.”

The RFA analysis further states that using E85 resulted in the avoidance of 369,518 metric tons of greenhouse gas emissions in California in 2023 alone—equivalent to removing more than 82,000 gasoline-powered passenger vehicles from the road for the entire year.

"The unique combination of California's low-carbon economy and entrepreneurial culture has created a win-win-win for consumers, fuel retailers and farmers,” said Rob Elam, founder and CEO of Sacramento-based Propel Fuels. “Propel is proud to have led the way bringing innovative E85 marketing and supply to the California market."



Urea Leads Fertilizer Prices Higher

Fertilizer prices continue to move higher according to prices tracked by DTN for the first week of March 2024. For the first time in several months, a fertilizer showed a notable price move. Seven of the eight major fertilizer prices were higher compared to a month earlier, marking the fourth week in a row that prices were mostly higher. DTN designates a significant move as anything 5% or more.

Urea pushed considerably higher, up 7% from last month. The nitrogen fertilizer had an average price of $564/ton. Six other fertilizers were slightly more expensive. DAP had an average price of $760/ton, MAP $816/ton, 10-34-0 $622/ton, anhydrous $788/ton, UAN28 $344/ton and UAN32 $396/ton.

Meanwhile, remaining fertilizers were just slightly lower in price compared to last month. Potash had an average price of $505/ton.

On a price per pound of nitrogen basis, the average urea price was $0.61/lb.N, anhydrous $0.48/lb.N, UAN28 $0.61/lb.N and UAN32 $0.62/lb.N.

All fertilizers except two are now lower by double digits compared to one year ago. MAP is 1% lower, DAP is 8% less expensive, urea is 12% lower, 10-34-0 is 16% less expensive, UAN28 is 21% lower, potash is 23% less expensive, UAN32 is 24% lower and anhydrous is 26% less expensive compared to a year prior.



Registration Now Open for World Pork Expo 2024

Registration for the 2024 World Pork Expo is now open. This year’s Expo, brought to you by the National Pork Producers Council (NPPC), will be held at the Iowa State Fairgrounds in Des Moines, Iowa, on June 5 and 6. With its new two-day schedule, the Expo will be full of exciting activities and sessions from 9 a.m. to 5 p.m. each day.

“Although we may be facing one of the toughest periods in a generation, the 2024 World Pork Expo symbolizes our collective strength and the way this industry comes together,” NPPC President Lori Stevermer said. “Together, we're turning challenges into opportunities and showcasing the unwavering spirit of pork producers.”

Expo attendees, exhibitors and media can register to attend the 2024 World Pork Expo and learn more at www.WorldPork.org.
 
New for 2024
We’ve gathered insights from previous attendees, incorporated valuable feedback and created a more robust two-day event where visitors can maximize every moment with valuable seminars, networking opportunities and live entertainment.

“This year, we want the event to focus on what matters most,” Stevermer said. “We’re embracing the power of coming together, sharing knowledge and celebrating achievements in a fun environment.”
 
World Pork Expo 2024 Schedule
The World Pork Expo is the industry’s premier event, and this year builds on that tradition with two days packed full of the latest in pork industry innovations, educational insights and boundless networking opportunities. Your admission unlocks access to events designed to foster connections and fuel growth within the industry.

    The World’s Largest Pork-Specific Trade Show – Explore an expansive showcase featuring more than 700 booths from across the globe. Discover the industry’s newest products, services and technological advancements.

    Exclusive NPPC Hospitality Tent Meet-and-Greets –  Engage in meaningful dialogue with National Pork Producers Council leaders. Gain insights into the critical legislative, regulatory, and public policy developments shaping the future of pork production.

    Complimentary Lunches from The Big Grill – Enjoy free pork lunches served daily from 11 a.m. to 1 p.m.

    Live Entertainment Returns – This year’s Expo will feature live entertainment options for attendees. More information will be released soon.

Save Money By Registering Early
Online registration is now open for the 2024 World Pork Expo for access to both days of events and activities. Secure your spot early and enjoy discounted rates: $10 for adults (ages 12 and above) and $1 for children (ages 6 to 11), with children under 5 admitted free of charge. Take advantage of these special prices by registering before May 30. On-site registration will be available at $20 per adult.

Mark your calendar for June 5-6 because you won’t want to miss this once-a-year event in Des Moines. Get ready for two full days of educational sessions, unparalleled networking opportunities and delicious pork!



Purina Animal Nutrition is offering $20,000 in scholarships

Purina Animal Nutrition, along with the Land O’Lakes Foundation, has opened its scholarship program designed to assist students with experience in agriculture and livestock production in pursuing their passions and furthering their educations.

Now, along with undergraduate students, current high school seniors who have experience raising and caring for small or large livestock, equine and/or poultry, are eligible to apply for one of four $5,000 scholarships. Along with the impact animal agriculture has had on their lives, desired applicants will be able to demonstrate academic excellence, leadership skills, community involvement and have a clear vision for their future.

Scholarship applications will be accepted March 18 through April 17. Awardees will receive their scholarship funds for the Fall 2024 semester at their current or anticipated educational institution. The scholarship is open to all high school seniors who plan to enroll in full-time undergraduate study at an accredited two- or four-year college, university, or vocational-technical school for the entire upcoming academic semester/term and undergraduate students enrolled in an accredited two- or four-year college, university or vocational-technical school.

To learn more about the Purina Animal Nutrition Scholarship and apply today, visit https://www.purinamills.com/scholarship.