ICYMI farm news highlights | Wednesday, January 26, 2022
From feeding cattle efficiently in winter to signups for conservation programs, Wednesday's headlines cover a broad range of topics.
Read on for a roundup of the latest news.
Markets and Inflation
Seth Meyer, chief economist at the USDA, said during a roundtable discussion focused on the economic outlook for agriculture, that inflationary pressures have boosted farm input costs that farmers won’t be able to recoup until they sell their crops in the fall.
Meyer also said that demand for corn and soybeans as feedstocks for renewable fuels such as ethanol and biodiesel is projected to be flat in the near future. Click the link below to read on about export demand for corn from China, carbon capture on the farm, and the 2022 Biofuel Access Bill in Iowa.
Editor Lisa Foust Prater covers a new report from the University of Illinois farmdoc Project and agricultural economics professor Gary Schnitkey's insights into the findings.
Schnitkey says, “We’re looking at much higher costs, but given where our prices are at, we could still see a profitable 2022. Moving forward, these costs are likely to remain at higher levels and we will see what that will mean in 2023 and how long commodity levels stay at the levels they are."
In this article, pick up some strategies for: nitrogen applications, marketing, budgeting, and more.
Beef and pork prices are going up again this year but the increases will not be as severe as last year, said the USDA on Tuesday. The monthly Food Price Outlook reported that beef and pork prices would rise by 3.5% for the year.
But the Outlook reports good news: upward pressures on meat prices are expected to ease in the latter half of 2022.
Last year, beef prices at the supermarket spiked by 9.3% and pork by 8.6%.
Farm, Crops, and Livestock
Editor Gil Gullickson reports on the collaboration between Beck's and Inflexion Point Technologies, LLC (IPT). The two companies will help farmers tailor their use of biological seed treatments to agronomic zones and growing conditions, say company officials.
IPT, co-founded by CEO Steve Smith and President Nick Iwig, is an agtech company that has developed the industry’s first prescriptive, on-planter seed treatment (POP-ST) solution.
Beck’s will run POP-ST field trials starting spring 2022 using ALMACO research planters equipped with IPT’s patented POP-ST technology.
Farmers and landowners can sign up soon for the Conservation Reserve Program (CRP). The General CRP signup will run from Jan. 31 to March 11, and the Grassland CRP signup will run from April 4 to May 13.
General CRP helps farmers and landowners establish long-term, resource-conserving plant species, such as approved grasses or trees, to control soil erosion, improve water quality and enhance wildlife habitat on cropland.
Meanwhile, Grassland CRP is a working lands program, helping landowners and operators protect grassland, including rangeland and pastureland and certain other lands, while maintaining the areas as working grazing lands.
Myron Friesen writes about managing the complications of succession planning.
He says, "Complications can end wherever you want them to. Sure, changing tax laws can be a challenge and farm families do need to be aware of that. Yet with proper guidance, that’s usually a hurdle, not a wall."
He recommends seeking proper guidance to help simplify complicated issues and start by looking at the areas of succession that are in your control.
How much feed does a beef cow need to get through the winter?
Probably less than you think, says Mary Drewnoski, University of Nebraska-Lincoln Extension beef specialist. Click the video below for ten tips that will help you feed cattle efficiently this winter season.