News Update
September 27, 2012
Agencies Reopen Comment Period on Swap Margin and Capital Proposed Rulemaking
Five federal agencies on Wednesday, Sept. 26, reopened the comment period on a proposed rule to establish margin and capital requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants for which one of the agencies is the prudential regulator, as required by sections 731 and 764 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The comment period — which originally ended July 11, 2011 — was reopened to Nov. 26, 2012, to allow interested persons more time to analyze the issues and prepare their comments in light of the consultative document on margin requirements for noncentrally-cleared derivatives recently published for comment by the Basel Committee on Banking Supervision and the International Organization of Securities Commissions.
As Farmers Get Older, MU Professor Encourages Students to Return to Farm with Farming Challenges Class
In a recent survey published by the USDA, officials reported that more than one-third of U.S. farmers are 65 years old or older, and half of current farmers plan to retire in the next decade. With fewer young people staying home to take over their family farms, the average age of American farmers is increasing rapidly. Kevin Moore, an associate professor of agricultural economics at the University of Missouri (MU), teaches "Returning to the Farm," a class that prepares students to overcome the financial and personality hurdles of becoming a farmer.
"Many young kids see the farming lifestyle as boring, rural and unattractive, and an increasing number of college graduates are attracted to what they see as more stimulating and lucrative careers and urban life," Moore said. "The purpose of the Returning to the Farm class is to teach students the skills that they will need to overcome the financial and societal pressures they face when going back to the family farm or starting their own farms."
The Returning to the Farm class prepares students for life after college in three ways:
- Weekly classroom sessions focus on financial planning and helping students determine the feasibility of farming and reaching financial goals;
- Weekend workshops feature farmers and professionals from all generations who cover various topics such as estate planning, business organization and tax management; and
- Lessons that help students create business plans allowing them to return to their family farms.
Moore believes that although costs are high for a farm, students can prepare for future challenges.
For the full release, click here.
Kentucky Stocker Conference is Oct. 1
Just less than 1 million head of beef cows graze the fields of the Bluegrass State, more cattle than any other state east of the Mississippi River. With that in mind, the University of Kentucky (UK) College of Agriculture often cooperates with other agencies to offer educational opportunities to the state's cattle producers. One of those opportunities is the Kentucky Stocker Conference, set for Oct. 1 at the Fayette County Cooperative Extension office in Lexington.
The conference will begin at 10 a.m. EDT with a presentation from John Davidson, a veterinarian with Novartis Animal Health in College Station, Texas. He will discuss new strategies in the prevention of bovine respiratory disease (BRD). At 11 a.m., UK agricultural economist Kenny Burdine will discuss risk management strategies.
After lunch, Jeff Lehmkuhler, UK beef cattle specialist, will lead a session about using corn silage and alternative feeds. Burdine will join Lehmkuhler for the last session of the day, "Putting it All Together." The event will wrap up at 3 p.m.
Registration is $10 at the door. Producers interested in attending may contact their local Cooperative Extension agent for more information.
The Fayette County Cooperative Extension office is located at 1140 Red Mile Place in Lexington. For more detailed directions, visit their website at http://ces.ca.uky.edu/fayette, or call 859-257-5582.
Managing Short Feed Supplies After the Drought
Because most of the states hit by the 2012 drought were in the corn-producing areas of the country, serious feed shortages will occur for most livestock operations this winter. Yet, in spite of this ominous forecast, beef cattle producers likely will rely on the ability of their cattle to adapt to a variety of diets and ingredients. However, feeding strategies must be reviewed before considering use of drought-stricken crops and forages.
For cow-calf operations, this winter will represent an opportunity to incorporate research-based discoveries when managing feed offerings to wintering beef cows. Cow-calf producers planning to have sufficient forage and grain inventories for winter in northern climates must consider stocking approximately 1,000 pounds of hay per cow during winter. This is approximately one large round bale per cow.
Given the feed shortages, it is even more important than usual to avoid hay wastage during feeding. When delivering hay to cows, producers must ensure that only the hay that will be consumed over a 24-hour period is delivered in a feeder. Data from the University of Minnesota beef research facilities at Grand Rapids and Rosemount indicate that hay wastage is kept to within 5% when cows are fed long hay in a round bale feeder or ground hay in a feed bunk. Greater losses (more than 18%) are expected when large bales are simply rolled or shredded onto the ground. Additional hay waste reductions occurred when limiting time access to the hay feeder. Limited access by cows to round bale feeders for 14 hours reduced hay waste further.
For the full release, click here.
Nebraska Farmers Disappointed in ConAgra
"We are extremely disappointed by ConAgra's decision to support the elimination of gestation stall housing for sows," reported Michele Ehresman, executive director of We Support Agriculture of Nebraska Farmers Care. She made her comments in a release this week.
"The fact that a long-time, Nebraska-based food company would choose to follow the agenda of an extreme animal rights organization such as the Humane Society of the United States (HSUS) will do nothing to improve the care provided to sows, but only place a significant burden on Nebraska's farm families that raise pork," said Ehresman.
"Nebraska farmers and ranchers are caring people who know how to care for their animals properly and have a moral responsibility to do so. They go to great lengths to protect their animals from disease, predators and the harsh Nebraska climate, all the while working to provide an abundant and nutritious food supply for their neighbors. We Support Agriculture was established to defend Nebraska farm families from misinformation campaigns designed to discredit farm families under the false pretense of promoting humane treatment of animals.
"Nebraska agriculture is vital to our state's economy and the Nebraska way of life, creating one out of every three Nebraska jobs. The Washington D.C.-based HSUS has clearly stated goals of "reducing, refining, and replacing" meat in the diets of American consumers, a goal that poses a real threat to Nebraska's economy and Nebraska's farm families. The drought that has plagued the Midwest has already created major challenges to the viability of many of Nebraska's livestock farmers including those involved in raising pork. Decisions like the one made by ConAgra will ultimately harm livestock farmers by pushing smaller farms that cannot afford these changes out of the livestock business, forcing further consolidation."
FSIS Updates Alert for Imported Canadian Beef
The USDA's Food Safety and Inspection Service (FSIS) is alerting the public that, in conducting standard recall effectiveness checks of U.S. domestic establishments receiving beef from XL Foods Inc. (Canadian Establishment 038), the Agency discovered that whole muscle beef cuts produced on the same production dates as beef subject to recall in Canada were being used to produce raw ground products. Specifically, FSIS discovered that subprimal materials (i.e., beef short ribs) produced on the same production dates as beef subject to recall in Canada were being used by a U.S. facility to manufacture other products and that the beef short ribs were being trimmed in order for the trim to be used to make ground beef.
FSIS has reason to believe, based on information provided by the Canadian Food Inspection Agency (CFIA), that beef from cattle slaughtered during the period associated with the recall was produced under unsanitary conditions that resulted in a high event period (a period when the trim from carcasses exhibited an unusually high frequency of positive findings for the possible presence of E. coli O157:H7). Therefore, all products that are non-intact, such as trim and ground beef subject to the recall, as well as all cuts of beef that will be processed into non-intact product, are considered adulterated.
Because FSIS now has evidence gathered through its effectiveness checks that whole muscle cuts were being used to produce ground beef, the Agency is using this public health alert to make the public aware that product from these cuts are also considered adulterated unless they receive a full lethality treatment capable of eliminating any E. coli O157:H7 that may be present.
For the full release, click here.
Meyer Natural Angus Inks Packers Deal
Meyer Natural Angus, producer of "naturally raised" premium steak and ground beef, has inked its second consecutive deal with the Green Bay Packers football team.
Under the agreement, Meyer Natural Angus will provide premium beef to the Packers for team meals and special events for the organization throughout the 2012-2013 season.
Meyer also will have a link on the team website, which will take them to the processors' website for more information and to buy the company's branded products.
FDA Extends ANPRM Comment Period Related to Sales Data Collection on Antimicrobial Animal Drugs
The Food and Drug Administration (FDA) announced Sept. 26 that it is extending to Nov. 26 the comment period for the advance notice of proposed rulemaking (ANPRM) that appeared in the July 27 Federal Register.
The ANPRM stated that FDA was soliciting comments from the public on possible enhancements to the existing requirements related to the collection of antimicrobial drug sales/distribution data, as well as input on alternative methods for monitoring antimicrobial use in food-producing animals. Collecting data on antimicrobial drugs used in food producing animals assists FDA in tracking antimicrobial use trends and examining how such trends may relate to antimicrobial resistance.
FDA said such information is important for supporting FDA's strategy for promoting the judicious use of medically important antibiotics in food-producing animals.
FDA is extending the comment period 60 days in response to requests for an extension to allow interested persons additional time to submit comments.
Section 105 of the Animal Drug User Fee Amendments (ADUFA) of 2008 established requirements regarding the collection and reporting of certain data regarding the sales/distribution of approved antimicrobial new animal drugs intended for use in food-producing animals. However, FDA is exploring whether additional information beyond that directed by ADUFA 105 may be needed, the announcement said.
For the full release, click here.
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