News Update

News Update
April 18, 2007

Make Plans for Angus Foundation Golf Tournament

The 7th Annual Angus Foundation Golf Tournament will be Tuesday, July 3 at the Forest Ridge Golf Club in Broken Arrow, Okla., in conjunction with the National Junior Angus Show (NJAS).

This event provides an opportunity for Angus enthusiasts of all ages to join together in a day of fun and recreation while raising money to support the Angus Foundation’s education, youth and research programs.

Many levels of sponsorship are available for the tournament. For planning purposes, payments for sponsorships must be received by Tuesday, May 1, 2007. Prior year sponsors will be given first consideration.

Player entry fees will again be $100 for adults and $75 for junior Angus members. Player registrations must be received by Friday, June 15, 2007. A late fee of $10 will be applied to players registering after June 15. Teams of four will compete for top prizes. Players can form their own teams or be assigned to a team the day of the tournament.

To receive your sponsorship or player registration brochure, contact the Angus Foundation at 816-383-5100, or go to www.angusfoundation.org to download the forms.

— Release provided by the American Angus Association.

AMI Appears Before House Committee

American Meat Institute (AMI) President J. Patrick Boyle yesterday told the House Committee on Agriculture, Subcommittee on Livestock, Dairy, and Poultry that the U.S. meat packing industry will oppose legislative and regulatory efforts to restrict livestock marketing and meat packing procurement opportunities, according to AMI.

“We believe the strength of the livestock marketing system in the U.S. is the flexibility it provides to producers, packers/processors and retailers in responding to market signals and offering an increasing variety of alternatives for the producer through to the consumer,” Boyle stated.

According to AMI, Boyle told committee members that marketing options available today — such as spot market transactions, production contracts, cooperatives, bargaining associations and marketing agreements — provide producers the ability to diversify or concentrate their marketing plan to best match their skills, experiences, capital base or tolerance of weather and price risks.

“Producers and packers recognize that managing this volatility is critical to their long-term economic well-being and livelihood. This is true across agriculture, where more than 40% of all agricultural goods are produced via contracts or related agreements,” he said.

Johanns Discusses Farm Bill Proposals for Beginning Farmers

Agriculture Secretary Mike Johanns yesterday described in greater detail a broad package of proposed changes to several titles of the farm bill that will help future generations of farmers and ranchers become established in production agriculture.

“The future strength of American agriculture depends in part on the ability of young men and women to overcome the challenges associated with entering production agriculture,” said Johanns, while addressing the state FFA convention in Iowa.

Key elements of the beginning farmer and rancher proposals include an increase in direct payments to major crop producers, targeting 10% of conservation payments to beginning farmers and ranchers, reducing the interest rate under the Beginning Farmer and Rancher Down Payment Loan Program and doubling the maximum loan amount among other enhancements, and creating a combined maximum for direct operating loans direct ownership loans of $500,000.

For further details of the major components of the proposals to assist beginning farmers and ranchers, visit www.usda.gov. To access the full 183 page document of farm bill proposals, or to access the proposals by title, go to www.USDA.gov/farmbill.

— Adapted from a USDA release.

— compiled by Crystal Albers, associate editor, Angus Productions Inc.