Packers missed the boat last week for buying cattle cheaper. After an explosive rally that began the prior Friday, the relatively aggressive gains of the near-term futures contracts left behind any hope that packers might have allayed their significant losses on the procurement side.
Who were the pioneers? People who forged into new territory and used their labor, water and the soil to create a life for themselves and those who followed. If it hadn’t been for their ingenuity and determination, we wouldn’t have a home here in the United States.
The long-standing U.S. cotton dispute between Brazil and other cotton exporters has finally been settled, with Secretary of Agriculture Secretary Tom Vilsack and U.S. Trade Representative (USTR) Michael Froman signing a deal with their Brazilian counterparts on Oct.
It’sbecoming clear who has the ear of Secretary of Agriculture Tom Vilsack; the National Farmers Union (NFU). Last week Vilsack held a meeting with the Beef Checkoff working group and said, “This is going to be a one-way conversation,” telling the group that he plans on.
Do we need an increase in the Beef Checkoff? You say, “But it promotes our product.” Really! The NCBA (National Cattleman’s Beef Association) who controls your Beef Checkoff dollar is associated with the EPA (Environmental Protection Agency) and TNC (The Nature Conservancy) among other groups that aren’t particularly the livestock producer’s friend.
One of the beef industry’s greatest accomplishments in the past 20 years has been to improve the eating experience for beef lovers. It was a huge shock in the 1990s when the industry discovered that one out of four steaks was not meeting consumers’ expectations.
Thus, we are introducing our new “WLJ Ambassadors” feature, a short profile of a reader who has been with us for a while and helped us along the way, either through their longtime loyalty or through vigorous sharing of this publication with their neighbors and friends.
Livestock producers who sell more livestock than they otherwise would because of drought are allowed to defer tax on the extra gains from those sales. To qualify, the livestock generally must be replaced within a four-year period. The IRS is authorized to extend this period if the drought continues, the agency stated.
Beef demand has been a pleasant surprise so far this year. Wholesale and retail beef prices have increased fast enough to maintain decent margins for beef packers and allow feedlots profitability for the first three quarters of the year.