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Texas
Agriculture Archive
December 5, 2003
Company offers livestock trace-backs
VeriPrime, Inc. will trace meat from the meat case right back to the farm or feedlot of origin when necessary.
The member-owned, member-directed organization of producers, feedyards, and retailers says its system is available to all 800,000 U.S. cattle producers and that they also will have access to about 75 percent of the nation's hogs. Source: Doane's Agricultural Report, Oct. 24, 2003
The National Research Council, an arm of the National Academy of Sciences, is calling for more research on weather modification. Cloud seeding to induce rainfall has been done in 10 U.S. states and about two dozen countries overseas, yet there is no concrete evidence that it works.
Only a handful of research programs around the world currently
study weather modification. At one time, the U.S. government spent $20
million a year on research, but now spends only about $500,000 annually.
Source: AFBF Executive Newswatch, Nov. 12, 2003
A consulting firm estimates that the Canadian beef industry has lost about $2.5 billion (U.S. dollars) since a cow with so-called "mad cow" disease (bovine spongiform encephalopathy) was found in Alberta at the end of May.
Most of the loss is related to the United States and other export markets closing their borders to Canadian beef. Export markets had previously bought about 60 percent of Canadian live cattle and beef.
Some cuts of Canadian beef from young animals have been
allowed into the United States since early September. Losses to the Canadian
beef industry are expected to continue well into 2004.
Source: AFBF Executive Newswatch, Nov. 17, 2003
An amendment to ease restrictions on travel to Cuba, which was included in both the Senate and House versions of the fiscal year 2004 Treasury/Transportation bill, was stripped out in a Senate-House conference.
Although identical language was passed in both the Senate and House, the provision was dropped "by consensus." The threat of a White House veto is reported to have doomed the amendment.
The appropriations process is the last venue for moving any Cuba-related provisions through Congress for this year.
The American Farm Bureau Federation supports continued efforts
to achieve normal trading relationships with Cuba.
Source: AFBF Executive
Newswatch, Nov. 14, 2003
Incentives to invest in capital equipment are included in some recent changes in tax law.
Producers can take advantage of temporary tax law changes that allow for an increased allowance in expensing the cost of equipment, plus bonus depreciation on the new equipment. The incentives are in effect for 2003, 2004, and 2005.
The expense method allows a producer to write off a part of the cost in the first year. The amount that can be expensed was increased from $25,000 to $100,000 on both new and used equipment. The bonus depreciation rules increased the first-year allowance from 30 percent to 50 percent, but only on new equipment.
If you have been planning sizeable investments, consult your tax adviser. Source: Doane's Agricultural Report, Nov. 13, 2003
Hands-free technology
allows 24-hour planting
Hands-free steering technology caused a buzz at a recent meeting
of the American Bankers Association in San Antonio.
Those in attendance were told this technology allows precision
steering of tractors and sprayers in pitch darkness by family members
operating in shifts nearly round the clock in planting season. That would
allow them to cover vastly more acres with the same size equipment they
have now.
Source: Doane's Agricultural Report, Nov. 14,
2003
Ag bankers gather
in San Antonio
Over 550 bankers convened in San Antonio recently for
three days of intensive presentations and breakout sessions. Among the
most noteworthy themes:
• Production technology has reduced both time and skill requirements in simply producing a crop. Many operators of commercial-sized farms are holding down full-time off-farm jobs, and their competitive advantages are not so much in production skill but in financial management, marketing, and people skills.
• Bankers need to encourage and support price risk management that addresses both downside risk on production not priced and upside potential on production already sold.
• Studies have now proven many producers don't really manage price risk at all. They manage something called their "risk of regret," and a whole field of behavioral psychology has shed new light on improving marketing skills.
• Banks need to better acknowledge the increasing role of farm women in the farm's business affairs.
Not only do women manage the finances on over half of today's
farms, but they tend to be better at it.
Source: Doane's Agricultural Report, Nov. 14,
2003
Pork group, packer
break COOL ranks
The North Carolina Pork Producers Council, Inc., which
represents the second largest pork producing state in the nation, has
voted to reverse its position and join the Iowa Pork Producers Association
in favor of mandatory country of origin labeling (COOL) of pork.
In addition, Smithfield Foods, one of the nation's largest
meat processors, has broken ranks with other processors and now supports
COOL.
Source: DTN, Nov. 17, 2003
