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ICYMI farm news highlights | Monday, January 24, 2022

At the beginning of a busy week, it’s easy to get caught up in your routine and tasks.

Below is a roundup of the most recent news to help keep you informed.

How the Acre is Measured

What exactly is an acre? Editor Jodi Henke talks with Michael Pugh, land expert from Ownerly, a real estate data company, about the moniker of measurement.

“Historically, it’s a long strip of land. It measures 660 feet by 66 feet so it’s basically a 1×10 ratio,” says Pugh.

Cattle Market Quotas

President of the American Farm Bureau Federation Zippy Duvall says while they support more transparency in cattle prices, the AFBF draws the line at requiring meatpackers to buy slaughter cattle on the cash market.

Nationwide, an estimated one in every five fed cattle is sold for slaughter on the cash market, compared with as many as three of every five head a couple of decades ago.

Cash sales are far more common in states such as Nebraska than in Texas and Oklahoma, so there is a regional split over the issue.

Key News for Farm Management in 2022

The XtremeAg team checks in this week as they make adjustments to equipment and nutrient programs.

As input prices soar, Matt Miles, Kelly Garrett, and Kevin Matthews are seeking to reduce their input use without sacrificing the quality of their 2022 crop.

Miles, a fourth-generation farmer in southeast Arkansas, says, “Although we’ll definitely continue to test different products this season, we are being more cautious in 2022. Hopefully, crop prices will continue to rise so we can offset the huge rise in input costs.”

Editor Jodi Henke talks with Brent Gloy, a partner in Agricultural Economic Insights, about the outlook for the farm sector in 2022.

Gloy says as we go into the unknowns of 2022, it’s important to really understand your cost structure.

“Understand your accounting costs, your economic costs, your cash flow costs. Understand where prices are today and maybe get some of that product sold at a price that you can make money at,” Gloy says.

Editor Dave Mowitz says, “Buying a combine just after the first of the year is certainly counterintuitive. The height of used combine sales is typically during the summer. But I contend that this year January and February are the prime times to shop for a late-model harvester.”

In this article, learn how the seller’s market benefits farmers.

Editor Jodi Henke asks the question, “Was there anything in your fields last year that you’d rather not repeat?”

She talks with Dan Berning, Pioneer agronomy manager for the western Corn Belt, who recommends looking back at 2021 and other recent years – especially if you were dealing with fungal diseases such as northern leaf blight and tar spot, and corn rootworm.

How the Russia/Ukraine Conflict Influences the Wheat Market

Russia and Ukraine account for about 30% of world wheat exports and Ukraine exports 16% of the world’s corn exports.

Ineffective diplomatic meetings and the increasing troop and arsenal buildup by Russia, just a stone’s throw from the Ukraine border, have greatly increased the likelihood of an invasion. The wheat and corn markets are bracing for grain export chaos to develop if that were to happen.

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