NEBRASKA CATTLE ON FEED UP 4%
Nebraska feedlots, with capacities of 1,000 or more head, contained 2.47 million cattle on feed on October 1, according to the USDA’s National Agricultural Statistics Service. This inventory was up 4% from last year. Placements during September totaled 590,000 head, up 8% from 2021. Fed cattle marketings for the month of September totaled 480,000 head, up 10% from last year. Other disappearance during September totaled 10,000 head, unchanged from last year.
Iowa Cattle on Feed Report
Cattle and calves on feed for the slaughter market in Iowa feedlots with a capacity of 1,000 or more head totaled 600,000 head on October 1, 2022, according to the latest USDA, National Agricultural Statistics Service -- Cattle on Feed report. This was up 2 percent from September but unchanged from October 1, 2021. Iowa feedlots with a capacity of less than 1,000 head had 465,000 head on feed, down 3 percent from last month and down 5 percent from last year. Cattle and calves on feed for the slaughter market in all Iowa feedlots totaled 1,065,000 head, down slightly from last month and down 2 percent from last year.
Placements of cattle and calves in Iowa feedlots with a capacity of 1,000 or more head during September 2022 totaled 85,000 head, down 4 percent from August but up 6 percent from September 2021. Feedlots with a capacity of less than 1,000 head placed 44,000 head, up 16 percent from August but down 35 percent from September 2021. Placements for all feedlots in Iowa totaled 129,000 head, up 2 percent from August but down 13 percent from September 2021.
Marketings of fed cattle from Iowa feedlots with a capacity of 1,000 or more head during September 2022 totaled 73,000 head, down 6 percent from August but up 9 percent from September 2021. Feedlots with a capacity of less than 1,000 head marketed 57,000 head, up 30 percent from August and up 4 percent from September 2021. Marketings for all feedlots in Iowa were 130,000 head, up 7 percent from August and up 7 percent from September 2021. Other disappearance from all feedlots in Iowa totaled 4,000 head.
United States Cattle on Feed Down 1 Percent
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.4 million head on October 1, 2022. The inventory was 1 percent below October 1, 2021. The inventory included 6.90 million steers and steer calves, down 2 percent from the previous year. This group accounted for 60 percent of the total inventory. Heifers and heifer calves accounted for 4.55 million head, up 1 percent from 2021.
On Feed, By State - (1,000 hd - % Oct 1 '21)
Colorado ......: 1,070 95
Iowa .............: 600 100
Kansas ..........: 2,360 93
Nebraska ......: 2,470 104
Texas ............: 2,820 103
Placements in feedlots during September totaled 2.08 million head, 4 percent below 2021. Net placements were 2.03 million head. During September, placements of cattle and calves weighing less than 600 pounds were 445,000 head, 600-699 pounds were 330,000 head, 700-799 pounds were 440,000 head, 800-899 pounds were 480,000 head, 900-999 pounds were 290,000 head, and 1,000 pounds and greater were 95,000 head.
Placements by State (1,000 hd - % Sept '21)
Colorado ......: 210 95
Iowa .............: 85 106
Kansas ..........: 445 88
Nebraska ......: 590 108
Texas ............: 410 91
Marketings of fed cattle during September totaled 1.86 million head, 4 percent above 2021. Other disappearance totaled 53,000 head during September, 9 percent below 2021.
Marketings by State (1,000 hd - % Sept '21)
Colorado .....: 165 100
Iowa ............: 73 109
Kansas .........: 455 105
Nebraska .....: 480 110
Texas ...........: 400 99
NDA REPORTS ADDITIONAL CASE OF HPAI IN NEBRASKA
The Nebraska Department of Agriculture (NDA) in conjunction with the United
States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service
(APHIS) is announcing another confirmed case of highly pathogenic avian influenza (HPAI).
This brings the total number of cases of HPAI in Nebraska this year to 12. The 12th farm is a
commercial flock of gamebirds in York County.
According to NDA State Veterinarian Dr. Roger Dudley, the affected flock was humanely
depopulated and will be disposed of in an approved manner. NDA will establish a 6.2-mile
control zone, as is USDA policy, around the affected premises. Poultry producers should know
the signs and symptoms of HPAI and notify NDA immediately of sick or dying birds.
HPAI is a highly contagious virus that spreads easily among birds through nasal and eye
secretions, as well as manure. The virus can be spread in various ways from flock to flock,
including by wild birds, through contact with infected poultry, by equipment, and on the clothing
and shoes of caretakers. Wild birds can carry the virus without becoming sick, while
domesticated birds can become very sick.
Symptoms of HPAI in poultry include: a decrease in water consumption; lack of energy and
appetite; decreased egg production or soft-shelled, misshapen eggs; nasal discharge, coughing,
sneezing; incoordination; and diarrhea. HPAI can also cause sudden death in birds even if they
aren’t showing any other symptoms. HPAI can survive for weeks in contaminated environments.
NDA is encouraging bird owners to prevent contact between their birds and wildlife and to
practice strict biosecurity measures. If producers suspect signs of HPAI in their flock, they
should report it to NDA immediately at 402-471-2351. More information for producers can be
found at https://nda.nebraska.gov/animal/avian/index.html or http://healthybirds.aphis.usda.gov.
Enhanced biosecurity helps prevent the introduction and spread of viruses and diseases including
HPAI. NDA and USDA have resources available to help poultry owners step up their biosecurity
• Know the warning signs of infectious bird diseases like HPAI. Be on the lookout for unusual signs of behavior, severe illness and/or sudden deaths.
• Restrict access to your property and poultry.
• Keep it clean. Wear clean clothes, scrub boots/shoes with disinfectant and wash hands thoroughly before and after contact with your flock.
• If you, your employees, or family have been on other farms, or other places where there is livestock and/or poultry, clean and disinfect your vehicle tires and equipment before returning home.
• Don’t share equipment, tools, or other supplies with other livestock or poultry owners.
• In addition to practicing good biosecurity, all bird owners should prevent contact between their birds and wild birds, making sure wild birds cannot access domestic poultry’s feed and water sources.
• Report sick birds immediately to: NDA at 402-471-2351; the USDA at 866-536-7593; or your veterinarian.
Early detection is important to prevent the spread of disease. According to the Centers for Disease Control and Prevention, the risk to people getting HPAI infections from birds is low.
All poultry entering Nebraska must be accompanied by a VS form 9-3 or Certificate of Veterinary Inspection (CVI, or health certificate). If you are considering moving an animal into Nebraska from an affected state, please call 402- 471-2351 to learn more. Nebraska poultry owners wanting to ship poultry out of state should consult the state veterinarians of the destination states for import requirements.
EPA Approves the use of E30 in Nebraska Fleet Demonstration Poised to Reduce Costs, Pollution
On Oct. 19, 2022, the U.S. Environmental Protection Agency (EPA) approved the continuation of ground-breaking research being done in Nebraska on the long-term adaptability and feasibility of E30 fuel. Results of the State’s initial pilot program, launched in 2019, showed that E30 is safe and reliable fuel for use in conventional vehicles. Under EPA current guidelines, only flex fuel vehicles (FFVs) can use ethanol blends higher than E15, but the State intends to underscore its initial findings in order to support regulatory change to make E30 accessible to all drivers.
In June 2019, the State of Nebraska began its study on the use of locally sourced E30 biofuel in conventional vehicles. State teammates outfitted 50 State-owned vehicles with onboard tracking systems to capture data on vehicle performance. They monitored those vehicles for an entire year. Data was submitted to engineers at the University of Nebraska-Lincoln (UNL) for analysis.
In 2021, UNL’s Engineering Department released its analysis of data from the first phase of the demonstration. It clearly showed that E30, a blend of gasoline and 30% ethanol, is safe and efficient to use in non-FFVs. Read the summary here. This peer-reviewed research was the first scientific demonstration of its kind.
The second phase of the E30 demonstration will begin in fall 2022 and include up to 825 State vehicles. While further demonstrating the safety and reliability of E30, the State will also significantly reduce its fuel costs and carbon footprint through the program.
“Promoting higher ethanol blends should be a centerpiece of our national strategy to lower gas prices,” said Gov. Pete Ricketts. “Ethanol saves drivers money at the pump, is better for the environment, and creates opportunities for farm families in America’s Heartland. Nebraska has already demonstrated that E30 can be used in regular vehicles without reducing performance or requiring extra maintenance. With our expanded study, we’ll be in an even stronger position to advocate regulatory change to make E30 accessible to everyone.”
Providing greater access to higher blends of ethanol allows consumers to manage fluctuating gas prices and contributes to our environmental health. One of the key findings from the first phase of the E30 demonstration is the positive impact of allowing statewide E30 consumption. If only 10% of the 1.7 million registered non FFVS in Nebraska used E30 instead of E10, ethanol consumption would increase by 18.5 million gallons per year and carbon emissions would decrease by 64,000 tons per year.
"When the first phase was published, we weren’t surprised with the results,” said Reid Wagner, executive director of the Nebraska Ethanol Board (NEB). “We’ve known the benefits of ethanol for many years, and it’s been purposefully put into our fuel system by the EPA to improve air quality. Through the first phase, we found a few parameters we want to look at closer to provide a more robust demonstration of the performance of ethanol. The E30 demonstration is academically and scientifically grounded and will be a key driver in continuing our efforts to show ethanol’s superiority in performance, cost, and health versus gasoline.”
There have been smaller municipal demonstration projects with E30 conducted in South Dakota and Kansas, and reports from those two locations revealed consumer acceptance and no performance issues in the vehicles.
It’s always been the mission of the Nebraska Ethanol Board to develop a market for ethanol, who led efforts to improve the health of our fuel supply in the 1970s when it launched the 2-million-mile gasohol road test program. Between 1975 and 1978, the Board used a 10 percent ethanol blend and accumulated approximately 2.2 million on-road miles. Designed and implemented with the cooperation of the Nebraska Department of Roads and the support of Gov. Jim Exon, the demonstration showed ethanol to be a superior fuel to gasoline in all aspects of performance.
In 1978, the EPA’s Clean Air Act waiver allowed the use of 10% ethanol in gasoline, known as gasohol or E10, to support this. Currently, more than 97% of the nation’s fuel supply contains ethanol.
"Nebraska is the No. 2 producer of ethanol in our country, and we should be leading the way when it comes to industry innovation,” said Jan tenBensel, Nebraska Ethanol Board chairman. “It’s these demonstrations that showcase to the EPA and other regulatory agencies the value of using ethanol, an American-made product, to grow our energy independence and improve air quality.
According to the EPA, ethanol’s high octane characteristics have allowed petroleum refiners to significantly reduce the aromatic content of gasoline – from about 25% in 2005 to about 20% in 2016. High-octane ethanol blends also improve vehicle performance and efficiency.
Making E30 more widely available also helps the ethanol industry stay competitive among transportation innovations as the country works to reduce its carbon footprint. Traffic is one of the highest contributors to carbon pollution which has been linked to cancer, heart disease and increased respiratory issues.
Wagner said the Nebraska Ethanol Board plans to work with industry partners and the EPA to continue the E30 demonstration for at least two years.
“This marks another significant milestone for the nation’s ethanol industry and another significant step in reducing gasoline’s aromatic content,” Wagner said. “We have demonstrated that higher ethanol blends release fewer harmful emissions, have no detrimental impact on vehicles, and save consumers money. We hope to see other states follow Nebraska’s lead by demonstrating the use of E30 in their state fleets.”
Nebraska Cattlemen Association Seeking to Hire Executive Vice President
Nebraska Cattlemen (NC), a grassroots, membership beef cattle advocacy organization, is seeking applications from individuals interested in leading the association as Executive Vice President (EVP). The EVP is the chief executive officer of this volunteer-driven, not-for-profit organization and serves at the direction of the Nebraska Cattlemen Executive and Finance committee and the Board of Directors. The position is full-time and on-site at the Nebraska Cattlemen office in Lincoln, Nebraska.
Nebraska Cattlemen has several staff serving on the member services, communications, policy, administrative, and producer education teams. NC owns and operates the Market Reporting Service, an in-house market information clearinghouse that services cattle feeders and producers in Nebraska and several surrounding states. NC owns and publishes the Nebraska Cattleman magazine, which goes to nearly 15,000 beef cattle enthusiasts in and around Nebraska 10 times yearly. Auxiliary entities include the Nebraska Cattlemen Foundation, the Nebraska Cattlemen Disaster Relief Fund, and the Nebraska Cattlemen State Political Action Committee.
The right candidate will be ready to take Nebraska Cattlemen forward successfully and execute the vision laid out by the Nebraska Cattlemen Strategic Plan. The candidate must have a bachelor’s degree from an accredited college or university and relevant experience. They must demonstrate practical oral and written communication skills and have successful supervisory skills for multiple people. They must be willing to travel extensively in and out of state and often at night or on weekends. The successful candidate will have experience developing and maintaining an annual budget and possess competent computer literacy. Solid knowledge of agriculture in general and all aspects of the beef cattle industry is required. A passion for the Nebraska cattle industry and serving the producers, feeders, and allied industries that make Nebraska the Beef State is a must.
Visit www.nebraskacattlemen.org to learn more about the Nebraska Cattlemen, its programs, policies, activities, and members.
For a comprehensive list of responsibilities or to make inquiries, contact Melody Benjamin at email@example.com or voice or text at (308) 760-6464. Applications will be accepted until Nov. 25, 2022, and should include a cover letter of introduction and a resume. Applications may be emailed to Melody Benjamin at firstname.lastname@example.org or sent via USPS mail to 1179 296th Trail, Lakeside, NE, 69351, to arrive by Nov. 25, 2022.
Consider Listing Your Corn Residue Acres on the Crop Residue Exchange
Daren Redfearn - Extension Forage Crop Residue Specialist
Most of Nebraska is currently in severe or extreme drought condition. Many livestock producers are looking for access to forage and winter feed resources. One resource that can help cattle producers get through the winter is corn residue grazing. Grazing is a great way to make use of corn residue rather than baling as it leaves the ground with more cover, does not result in compaction and returns most of the nutrients to the land. Sometimes grazing can increase crop yields.
The Crop Residue Exchange (http://cropresidueexchange.unl.edu/) is designed to facilitate connections between livestock producers looking for forage and crop producers with available crop residues or other forage resources. This interactive, online exchange assists corn and other crop producers to market crop residue and other available forages to cattle producers for grazing.
Getting Started with the Crop Residue Exchange
After establishing a log-in account, farmers can list cropland available for grazing by drawing out the plot of land available using an interactive map and entering basic information about the type of residue or forage, fencing situation, water availability and dates available. The mapping tool enables listings for the entire state of Nebraska and much of neighboring states Iowa, Missouri, Kansas, Colorado, Wyoming and South Dakota.
Land available for grazing is described as “Residue Type” (corn, wheat, sorghum, pasture or other). Pricing can be listed as a “cost per acre” or a “cost per head per day”. Farmers provide their preferred contact information. Livestock producers can search the Crop Residue Exchange database for grazing available within a radius for the location of interest, but must be logged in to view the contact information attached to each listing. Livestock producers can also save their search and receive notifications when new listings are posted that meet their search criteria.
With dry conditions in much of the western U.S., reports of livestock producers looking for fall and winter forage are accumulating. Crop producers who have previously listed crop residue available for grazing are encouraged to log in and update their listings on the Crop Residue Exchange. Crop producers new to the Exchange are encouraged to consider utilizing the Exchange to connect with livestock producers to create a mutually beneficial relationship. For those who do make a connection, the Exchange also has a guide to assist when developing a rental agreement to help reduce miscommunication and misunderstandings.
The Crop Residue Exchange is made possible with funding support from Nebraska Extension, the Northern Plains Climate Hub and the University of Nebraska Institute of Agriculture and Natural Resources Beef Systems Initiative.
NEBRASKA CHICKENS AND EGGS
All layers in Nebraska during September 2022 totaled 6.48 million, down from 8.19 million the previous year, according to the USDA's National Agricultural Statistics Service. Nebraska egg production during September totaled 153 million eggs, down from 200 million in 2021. September egg production per 100 layers was 2,362 eggs, compared to 2,446 eggs in 2021.
IOWA: Iowa egg production during September 2022 was 1.02 billion eggs, up 2 percent from last month but down 18 percent from last year, according to the latest Chickens and Eggs report from the USDA's National Agricultural Statistics Service.
The average number of all layers on hand during September 2022 was 40.1 million, up 3 percent from last month but down 18 percent from the same month last year. Eggs per 100 layers for September were 2,534, down 1 percent from last month but up slightly from last September.
September U.S. Egg Production Down 3 Percent
United States egg production totaled 8.83 billion during September 2022, down 3 percent from last year. Production included 7.56 billion table eggs, and 1.27 billion hatching eggs, of which 1.18 billion were broiler-type and 89.6 million were egg-type. The average number of layers during September 2022 totaled 373 million, down 3 percent from last year. September egg production per 100 layers was 2,365 eggs, up 1 percent from September 2021.
Total layers in the United States on October 1, 2022 totaled 373 million, down 4 percent from last year. The 373 million layers consisted of 307 million layers producing table or market type eggs, 62.6 million layers producing broiler-type hatching eggs, and 3.49 million layers producing egg-type hatching eggs. Rate of lay per day on October 1, 2022, averaged 78.6 eggs per 100 layers, up slightly from October 1, 2021.
Grassley, Franken to Speak on Rural and Agricultural Issues
Iowa Farmers Union would like to invite all Iowans to two Senate Candidate Conversations in the weeks leading up to the 2022 Election. On Oct. 26 from 1:30 to 2 p.m. CT, Senator Chuck Grassley will join the group. On Oct. 27 from 12:30 to 1 p.m. CT, Admiral Michael Franken will join us. Both candidate conversations are open to the public and will be live-streamed as Zoom Webinars. You can use the links below to register to attend, or find registration information on the Iowa Farmers Union Facebook or website, https://iowafarmersunion.org/.
IFU Senate Candidate Conversation with Senator Chuck Grassley: https://bit.ly/3TgUHes
IFU Senate Candidate Conversation with Admiral Michael Franken: https://bit.ly/3yF2QSa
IFU is using a Google Form to collect question submissions ahead of time from Iowa Farmers Union members to be asked to the Senate Candidates live during the conversation. Although the webinar is open to the public, only questions submitted by current IFU members will be considered. Due to time restraints, not all questions that are submitted will be asked. Three Iowa Farmers Union members will be asking the chosen questions during the session.
The conversations will be exclusively about agriculture and rural issues. IFU looks forward to lively conversations with the two Senate Candidates about issues that are important to Iowa's farmers and rural communities. Please contact Tommy Hexter at email@example.com with any questions and save the date for this important opportunity.
Iowa Farm Bureau invites members to register for 2022 Annual Meeting 'Cultivating Opportunity'
Iowa Farm Bureau members are invited to register for the organization’s 104th Annual Meeting, Dec. 6-7 at the Community Choice Credit Union Convention Center in downtown Des Moines, to celebrate Iowa agriculture and “Cultivating Opportunity.” In addition to valuable educational seminars on today’s major agricultural issues, including navigating volatile markets, our next Farm Bill and the ongoing fertilizer price crisis, members will receive insight into building their farm brand and successful conservation and sustainability strategies during the two-day event.
Rachel Cutrer, a Texas farmer and founder and CEO of Ranch House Designs, Inc., will provide an in-depth look at direct-to-consumer marketing and how Iowa livestock farmers can build their own farm brand to capitalize on growing consumer trends and marketing opportunities. Dr. Mark Licht, Iowa State University (ISU) professor and extension cropping systems specialist, will share expert analysis on the role cropping systems play in conservation progress and soil health improvement. Additional educational sessions include an ag market outlook and national policy update amidst market swings and early Farm Bill discussions in Washington, D.C.
The ongoing fertilizer crisis, which has presented farmers with costs up to 300% higher than just a year ago, remains a huge challenge and concern for members. To help members navigate surging fertilizer costs and look for possible solutions, IFBF will bring together an expert panel for a breakout session titled “Alternative to Combat Increased Fertilizer Costs.”
Throughout the meeting, members will celebrate the achievements of county Farm Bureaus and member leaders and recognize IFBF’s Young Farmer Leadership Award winners, Distinguished Service to Ag (DSA) recipients, Ag Leader Institute graduates, Farm Bureau Community Partnership Awards and others. More than a dozen farmers will compete in the Young Farmer Discussion Meet, with robust dialogue, insight and idea sharing on the biggest issues facing agriculture today among the next generation of Farm Bureau leaders.
On Wednesday, Dec. 7, Brent Johnson, Calhoun County farmer and IFBF president, will deliver his first Annual Meeting keynote address. “It’s a tremendous honor to be trusted to serve as the Iowa Farm Bureau president, and our Annual Meeting is a great time to gather as members and celebrate our collective achievements while recognizing the accomplishments of the members who are the strength of our organization,” said Johnson. “We are looking forward to recognizing our outstanding leaders and sharing valuable insight on important issues and new opportunities that members can take back to their farms.”
Following Johnson’s comments, members will hear a keynote speech from Jason Brown, a former NFL star who walked away from professional football to become a full-time farmer. Brown, a former offensive lineman drafted by the Baltimore Ravens in 2005, became the highest-paid center in the NFL after signing a $37.5 million contract with the St. Louis Rams in 2009. Rather than pursuing his next big contract in free agency following his stint with the Rams, Brown retired from the game and bought a 1,000 acre farm in North Carolina, where he’s been farming full time since 2013. Brown, who gives away nearly everything he grows on his farm, will share his inspirational message on resiliency and tenacity and the parallels between the football field and farm.
For more information, a detailed agenda or to register for the 2022 IFBF Annual Meeting, visit https://www.iowafarmbureau.com/News/IFBF-Annual-Meeting.
Lindsay Corporation Reports Fiscal 2022 Fourth Quarter and Full Year Results
Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its fourth quarter and fiscal year, which ended on August 31, 2022.
Fourth Quarter and Full Year Summary
Revenues for the fourth quarter of fiscal 2022 were $190.2 million, an increase of $36.5 million, or 24 percent, compared to revenues of $153.6 million in the prior year fourth quarter. Net earnings for the quarter were $17.9 million, or $1.62 per diluted share, compared with net earnings of $5.8 million, or $0.53 per diluted share, for the prior year fourth quarter.
Revenues for the year ended August 31, 2022 were $770.7 million, an increase of $203.1 million, or 36 percent, compared to revenues of $567.6 million in the prior year. Net earnings for the year were $65.5 million, or $5.94 per diluted share, compared with net earnings of $42.6 million, or $3.88 per diluted share, for the prior year.
"Demand for irrigation equipment remained strong across all geographies in our fourth quarter, particularly in North America where damage to existing systems due to severe weather in the Midwest resulted in a large increase in replacement sales. In the infrastructure business, fourth quarter revenue growth was driven by an increase in Road Zipper sales as we began delivery of a large project we had been expecting in the second half of our fiscal year," said Randy Wood, President and Chief Executive Officer. "For the full year, strong growth in our irrigation business led to record consolidated revenues of $770.7 million. We were also pleased that, through effective price management and improved operating performance, we were able to overcome the inflationary headwinds we faced earlier in the year to deliver results that met our annual operating margin objective of 12 percent."
Fourth Quarter Segment Results
Irrigation segment revenues for the fourth quarter of fiscal 2022 were $150.5 million, an increase of $25.2 million, or 20 percent, compared to $125.3 million in the prior year fourth quarter. North America irrigation revenues of $80.1 million increased $26.5 million, or 50 percent, compared to the prior year fourth quarter. The increase in North America irrigation revenues resulted from higher unit sales volumes and higher average selling prices. Higher unit sales volumes resulted primarily from increased storm damage replacement demand compared to the prior year fourth quarter. International irrigation revenues of $70.4 million decreased $1.3 million, or 2 percent, including unfavorable effects of foreign currency translation of approximately $3.5 million compared to the prior year fourth quarter. Strong sales growth in Brazil, Europe and other markets more than offset the impact of a large project in Egypt in the prior year that did not repeat.
Irrigation segment operating income for the fourth quarter of fiscal 2022 was $24.2 million, an increase of $13.6 million, or 129 percent, compared to the prior year fourth quarter. Operating margin was 16.1 percent of sales, compared to 8.4 percent of sales in the prior year fourth quarter. Increased operating income and margin resulted from higher unit sales volumes, improved price realization and lower inflationary headwinds compared to the prior year fourth quarter.
Infrastructure segment revenues for the fourth quarter of fiscal 2022 were $39.7 million, an increase of $11.3 million, or 40 percent, compared to $28.4 million in the prior year fourth quarter. The increase resulted from higher Road Zipper System project sales, which were partially offset by lower Road Zipper System lease revenue.
Infrastructure segment operating income for the fourth quarter of fiscal 2022 was $11.5 million, an increase of $5.7 million or 97 percent compared to the prior year fourth quarter. Operating margin was 28.8 percent of sales, compared to 20.5 percent of sales in the prior year fourth quarter, which is largely due to the increase in Road Zipper System sales.
The backlog of unfilled orders at August 31, 2022 was $96.8 million compared with $149.1 million at August 31, 2021. The irrigation backlog is lower compared to the prior year while the infrastructure backlog is higher.
"Current commodity prices and net farm income projections support a positive outlook for North America irrigation equipment demand for the fall selling season, however the ongoing impacts from inflation and supply chain challenges can also impact capital investment decisions for farmers. We expect growth in international markets through expanded production driven by positive agricultural market fundamentals and continuing concerns over food security and global grain supplies," said Mr. Wood. "In the infrastructure business, we expect to continue delivery of the large Road Zipper System project during the first quarter of fiscal 2023, and expectations for continued growth in this business are supported by an anticipated increase in U.S. infrastructure spending and by the ongoing management of our project sales funnel."
Lindsay Corporation Announces Quarterly Dividend
Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.34 per share, payable November 30, 2022, to shareholders of record at the close of business on November 16, 2022.
As of October 18, 2022, Lindsay Corporation had approximately 11.0 million shares outstanding, which are traded on the New York Stock Exchange under the symbol LNN.
CLAAS LEXION 8000-7000 Series Combine is Recognized as “The Coolest German Thing Made in the USA”
The German American Business Awards announced this year’s winner of “The Coolest German Thing Made in the USA” – presented by Comcast – was CLAAS and their fourth-generation LEXION 8000-7000 combine.
This flagship line of combines sets new standards for efficiency and productivity. CLAAS LEXION combines are fitted with a machine automation system that makes autonomous and automatic real-time, in-field adjustments with more precision and speed than a seasoned operator, ensuring the machine runs at its highest efficiency.
This award, presented by the German American Chambers of Commerce (GACCs), honors excellence in the German-American business community annually in innovation, services, economic development, and community engagement. For the second year in a row, “The Coolest German Thing Made in the USA” Award winner was decided via online voting, where nearly 5,000 votes were cast. The awards were presented to the winners at the 2022 German American Business Awards on October 14, 2022 at the Chicago History Museum.
Founded in 1913, CLAAS still puts people over profits and works to honor the land and ecosystems they work in.
“We are excited and honored to have the LEXION 8000-7000 Series combine – our most advanced and highest capacity line of harvesters – be recognized by the GACCs,” says Matthias Ristow, President and Managing Director Business Administration, CLAAS Omaha, Inc. “We are extremely proud and appreciative of our fantastic workforce here in Omaha who builds this highly innovative machine on a daily basis. Twenty-five years ago, CLAAS built its North American combine assembly plant in Nebraska because they knew the farmers in North America required a combine with the capacity that only CLAAS would be able to provide.”
According to Representative of German Industry + Trade (RGIT), German companies in the US employ nearly 860,000 people, making them the fourth largest foreign employer in the US and second largest in manufacturing specifically. Germany is also the third largest foreign direct investor in the US, with $564 billion in investment. “German subsidiaries in the US play a vital role in the US economy as they constantly innovate, invest in their regions and local community, support their customers, and develop unique products, services, and solutions for their customers and partners. I look forward to recognizing these excellent contributions to German-American business at the German American Business Awards,” says Matthias Amberg, Chairman of the German American Chamber of Commerce® of the Midwest (GACC Midwest).
“Celebrating with our network in-person at the Chicago History Museum is the highlight of our year,” says Mark Tomkins, President & CEO, GACC Midwest. “I am extremely proud of our members’ hard work over the past year, which has contributed to big wins both for individual companies and the transatlantic business community as a whole.”
Monday, October 24, 2022
Friday October 21 Cattle on Feed + Ag News
NEBRASKA CATTLE ON FEED UP 4%