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Recruiter Incentives
MCA's Steering Committee and area vice presidents met Friday using the Video Conferencing Network. With eight locations online, including Lexington, Kentucky and Washington, DC the association officers were updated on national issues and discussed details of the 2008 membership drive. Individual prizes will be announced soon but it isn't too early to start recruiting new members since the entire year's work will count toward fulfilling award requirements. Watch for details soon. |
| Angus Field Day
All cattlemen are invited to Hinds Community College on Saturday, June 7 for the Mississippi Angus Association's annual field day. Registration begins at 9:30 a.m. and several educational programs will be presented. Attendees can participate in a judging contest and view Angus seed stock from several purebred breeders on display.
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Summer Intern
Nick Simmons has joined the Mississippi Beef Council staff to help with summer promotion and educational events. Simmons, a native of Saltillo, is a student at Mississippi State University. |
| Hereford Field Day
Mississippi State University's South Farm will be the site of this year's Mississippi Hereford Association Field Day. Beginning at 10:00 a.m. on June 7th, university staff will present programs on forages, merchandising and other management practices. Following lunch, there will be a tour of the university's farm and cattle herd. | |
| Farm Bill Goes to the President
On Wednesday, May 14th the House passed the 2007 Farm Bill Conference Committee Report by a vote of 318-106. To override the expected veto from the President, it would take a vote count of 286. Also, during the debates, several members said that they were voting against the Conference Report but would vote to override the veto.
The Senate passed the 2007 Farm Bill Conference Report on Thursday, May 15th with a vote of 81-15. The report now heads to the President where he is expected to veto the Conference Report. In both the House and the Senate, the bill passed by a veto proof margin and it is expected that they will override the President's veto during votes next week.
At a news conference, the agriculture committee chairman, Rep. Collin C. Peterson (Minn.), said he expected the bill to reach the president by May 20 and, if needed, a veto override to be approved before Congress leaves for the Memorial Day recess. To override a veto, each chamber must call a new vote and pass the bill by a two-thirds majority.
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| Five Nation Conference Underway
The Five Nations Beef Alliance, consisting of members from Canada, New Zealand, Mexico, Australia and the United States, got underway last week and continues through today. The conference will travel between Kansas, Nebraska and Missouri as participants learn about U.S. beef production and discuss ways that global market access and international trade can be improved. |
Farm Bill Passes Congress
Key developments from the Farm Bill Conference Committee include the following:
Conservation/environment programs: An additional $4.4 billion in program dollars are divided between the Environmental Quality Incentives Program (EQIP) and the Conservation Stewardship Program (CSP). Individual EQIP contracts are not to exceed $300,000 over six years. However, the Secretary of Agriculture may grant a waiver for environmentally significant projects which would boost that number to $400,000 over six years.
Similarly, the Conference Committee placed a cap on the Adjusted Gross Income (AGI) levels for participants in conservation programs. The cap is set at $1 million for those people who are not considered "farmers." But for farmers - defined as those with at least 2/3 of their income coming from farming/ranching activities - there is no AGI cap for conservation programs. Like the payment cap, the Secretary may also waive the $1 million AGI cap for environmentally significant projects.
Other key funding levels include:
$1.3 billion for the Wetlands Reserve Program
$300 million for the Grasslands Reserve Program
$562 million for the Farm and Ranch Land Protection Program
$372 million for the Chesapeake Bay Program
The CRP Transition Option program is included at a cost of $50 million over 10 years. This would allow landowners taking land out of CRP to sell or rent it to beginning and minority farmers in return for additional CRP payments.
Renewable energy: The new Farm Bill would reduce the ethanol blender's tax credit by about 12 percent, while increasing incentives for cellulosic ethanol production. This shift could provide a greater incentive for ethanol plants to move more quickly toward cellulosic production, a move supported by NCBA. But the bill also includes a two-year extension (through 2010) of the 54-cent per gallon ethanol import tariff, which had been set to expire at the end of this year. NCBA member policy supports allowing the tariff to expire, because it limits access to a potential fuel source during a time of great need, and insulates grain-based ethanol production from market competition.
Permanent ag disaster program: NCBA applauds the inclusion of a $3.807 billion permanent disaster aid program. Under this permanent program, farmers and ranchers who purchase Non-insured Agricultural Program (NAP) coverage could be eligible to receive compensation for extreme forage or livestock losses resulting from disasters such as drought, wildfires and floods.
Country-of-Origin Labeling (COOL): The Farm Bill contains language that makes implementation of COOL more flexible for both producers and the meat industry, and moves us closer to having an improved COOL law under which USDA can write its final rule by September 30. The Farm Bill language provides for the same four-tier labeling system that was passed as a part of the House version of the Farm Bill back in July 2007, and extends the grandfather date for domestic livestock from January 1, 2008 to July 15, 2008.
Livestock Title: The Conference Committee voted to remove provisions calling for a ban on packer ownership of cattle from the Farm Bill. Also, provisions calling for the creation an Office of Special Counsel were removed from the Farm Bill before a vote needed to be taken. NCBA opposed both of these provisions.
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Cattle Market Notes
Friday, May 16, 2008
Dr. John Anderson
Mississippi State
University
Last week, in active trade on Friday, fed cattle sold for mostly $94. The 5-Area average steer price came out to $93.86 live and $148.08 dressed. This week, packers and feeders spent most of the week pretty far apart. Prices on Friday in the South Plains were steady to $0.50 higher than last week: $94 to $94.50 in TX/OK/NM and $94 in KS.
At auctions around the country this week, feeder prices mostly improved a little over last week's performance. At Oklahoma City this week, prices on feeder steers and heifers were $1 to $2 higher; stocker steer and heifer prices were $5 to $7 higher in a very thin test. At Lexington, Kentucky, feeder steer and heifer prices were steady to $1 higher. Stocker steer prices were steady to $4 higher; stocker heifer prices were steady to $2 higher.
At Mississippi auctions this week, prices on steers were $1 to $5 higher; prices on heifers were steady. For the week, feeder steer prices in Mississippi were as follows: 250-300 pounds, $112-$120; 300-400 pounds, $110-$120; 400-500 pounds, $98-$110; 500-600 pounds, $95-$108; 600-700 pounds, $92-$106; 700-800 pounds, $91-$99. Prices on slaughter cows were $1 to $3 higher this week.
Live cattle futures traded pretty quietly for the most part this week. After moving mostly sideways in up-and-down trading, nearby Live Cattle fell substantially on Friday - off 47 cents on Friday. Live Cattle futures closing prices on Friday (with change from last Friday's close in parentheses) were as follows: June $93.87 (-0.65); August $99.10 (-1.10); October $105.55 (-1.50); December $106.00 (-1.57); February $107.62 (-1.00).
Feeder Cattle futures were higher for the week, mostly on the strength of early-week gains. Feeder Cattle futures closing prices on Friday (with change from last Friday in parentheses): May $108.47 (+1.12); August $113.07 (+3.15); September $113.85 (+2.30); October $115.27 (+2.80); November 115.00 (+2.30).
Fortunately for livestock producers, last week's upside break-out in corn futures turned out to be a bust. Corn futures dropped sharply on Monday and Tuesday, trading mostly on planting progress and weather prospects. Monday's Crop Progress report showed corn planting 51% completed nationally. This remains well behind the normal pace of plantings, but it was a good bit ahead of the 45% or so that the market seemed to be anticipating. July Corn closed on Friday at $5.91, down 38 ¼ cents from last week's close. |
Don't Miss NCBA's Cattlemen to Cattlemen- On this week's episode, airing Tuesday, May 20th, at 7:30 p.m. experts from Fort Dodge Animal Health will offer advice on effective parasite control.
A panel of NCBA officers will be featured on the program airing May 27-June 1. NCBA President Andy Groseta will share his goals and vision for NCBA and the beef industry. Policy Division Chairman Bill Donald discusses trade, tax and environmental issues, and the need for cattlemen to be active in advocating NCBA policy on Capitol Hill. Federation Division Chairman Alan Albright discusses recent successes achieved by the Beef Checkoff Program, and the challenges facing the industry as it strives to build beef demand.
Be sure you tune in to NCBA's Cattlemen to Cattlemen on RFD-TV. For more information or to check out past episodes, visit
www.cattlementocattlemen.org |
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Calendar of Events
May
19 Rotational Grazing
Seminar, Video Conf.
19 Neshoba CCA Blood Drive
& Fundraiser
24 Southern Heritage
Angus Sale,
June |
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5 Stone CCA
7 Hereford Field Day,
MSU
7 Angus Field Day,
Raymond |
| Making Tracks
2008
Attend the 17th annual Making Tracks Wax Leadership Camp
June 23 - 25
sponsored by Mississippi State University, MississippiCattlemen's Foundation, and The Wax Company.
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