News Update

February 13, 2014

Chris Jeffcoat Joins the
American Angus Association

The American Angus Association welcomes Chris Jeffcoat of Littlestown, Pa., as the new regional manager for the northeastern region (Region 7). Jeffcoat plans to relocate from North Carolina, where he currently lives, to near Gettysburg, Pa., and begin his role as regional manager March 3.

“It’s an honor to be working for Angus producers in the eastern region,” Jeffcoat says. “Thanks to their commitment to the breed, the Angus business has much to be proud of, from a population standpoint and a dedication to a high-quality product. I truly look forward to getting started.”

Jeffcoat will represent Angus at various cattle events and sales throughout the region. As a regional manager, breeders can ask him questions about Association programs and services, or for help locating Angus seedstock. He can also advise producers on marketing opportunities available through the Association.

“Chris brings a lifetime of experience to the Angus breed, and we look forward to seeing what he brings to our Angus producers and the future of the business breed,” says Bryce Schumann, the Association’s CEO. “We hope farmers and ranchers in the eastern region call on Chris for advice with their operations.”

Jeffcoat’s region covers Delaware, Maryland, Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New Jersey, New York, Pennsylvania, Virginia and West Virginia.

For more information, please view the full release here.

— Adapted from a release by Carrie Heitman for the American Angus Association.

Producers Confident in Today’s Tools, Angus Genetics

Angus breeders like Sydenstricker Genetics manager Ben Eggers, Mexico, Mo., say the Certified Angus Beef^® (CAB^®) brand’s impact, and their ability to respond, grow in tandem with the record premiums paid.

“In the earlier days of CAB we often heard, ‘Where’s the premium?’ I haven’t heard that in quite a while,” Eggers observes. “The value of superior carcass merit is well documented now, and many top commercial cattlemen have reaped the benefits. As that ‘pull through’ effect grows even stronger, I think we’ll see even more increase in beef demand as the average quality increases.”

At the calf level, the soaring premiums move past any perceived “black hide” advantages.

“The CAB premiums help explain the huge price spreads we’ve seen lately based on quality,” says Malta, Mont., seedstock producer Dave Hinman. “It’s been $20, $30 per hundredweight or more on the same weight cattle.”

The difference of nearly $200 per head shows great buyer confidence, he says. “The feeder couldn’t afford to pay that if he didn’t know a lot about the calves. They have to watch everything pretty close …”

Hinman’s bull customers do, too, and their solution is to find balance.

“We put all the numbers in our catalog and they look at all of them,” he says. “They want it all, just like their next buyer, all the way to the people standing in line to be seated at a steak house. And people will pay to get what they want.”

Science, performance data and common sense used in concert can create those genetics. “But you can’t forget any one of those,” Hinman says.

For more information, please view the full release here. For a more in-depth look at this story, keep on the lookout for the March issue of the Angus Journal.

— Adapted from a release by Certified Angus Beef LLC.

Wisely Spend Your Tax Refund

If you are lucky enough to have a tax refund coming your way, ignore for a moment the visions dancing in your head of all the ways you plan to spend the funds. Instead think about putting at least a few of those coins to work for you.

“It’s okay to spend a little of your refund on something fun, but consider using the bulk of the windfall to improve your current or long-term financial health,” said Sissy Osteen, Oklahoma State University (OSU) Cooperative Extension resource management specialist.

The average refund in 2013 was roughly $2,800, according to the IRS. That amount could go a long way toward setting up or adding to an emergency fund that will provide you with a buffer in case of unexpected bills or loss of income.

Most financial experts recommend building a cushion large enough to cover your living expenses for at least three months.

“You’re in a much more stable position in an emergency if you’ve got at least a little savings to rely upon rather than having to turn to credit cards or friends,” said Osteen.

You also could apply part of your refund monies to an investing goal such as creating or adding to a retirement fund or starting a college fund for your kids.

In 2014, the maximum contribution an individual can make to either a traditional or Roth IRA is $5,500 or their taxable compensation (whichever is lower). There is a catch-up provision of $1,000 for taxpayers over 50, who are allowed to contribute up to $6,500.

Osteen said an initial deposit of $1,000 is a good start for an IRA account.

Meanwhile, if you are considering tucking some dollars into a college fund, the Oklahoma 529 College Savings Plan may be one option. Go to www.ok4saving.org/ or call 1-877-654-7284.

For more information, please view the full release here.

— Adapted from a release by Leilana McKindra for Oklahoma State University Extension.

Mid-South Stocker Conference Features Virtual Tours, Latest Research

The cattle industry is rapidly evolving and meeting consumer demands is becoming more challenging. Stocker cattle operators wishing to explore ideas for making their operations more efficient and profitable will want to attend this year’s Mid-South Stocker Conference Feb. 18-19 in Buchanan, Tenn.

“We have a great lineup of speakers, virtual tours of three area stocker operations and a trade show at this year’s event,” said Jeff Lehmkuhler, beef specialist for the University of Kentucky College of Agriculture, Food and Environment. “The conference provides an excellent opportunity for attendees to get together with stocker operators from across the region to share ideas and visit with vendors.”

The conference is a cooperative effort between University of Kentucky Cooperative Extension, University of Tennessee Extension and the Mid-South Stocker Cattle Association. Bayer Animal Health and BEEF magazine are conference partners.

The conference will begin Feb. 18 with registration from 8-10 a.m. CST. Virtual tours of three area stocker operations will begin at 10 a.m., where producers will discuss their farms and their management strategies. Specialists from Georgia, Tennessee and Kentucky will discuss calf health, pricing feedstuffs and using them in stocker diets, and the current feeder cattle market. A reception and dinner will be available for attendees that evening.

For more information, please view the Angus Journal’s Virtual Library calendar of upcoming events here.

— Adapted from a release by Aimee Nielson for University of Kentucky Ag News.

Farm and Ranch Estate Planning Workshop Slated for March 6 in Floresville, Texas

A Farm and Ranch Estate Planning workshop will take place starting at 6:30 p.m. March 6 at the Wilson County Courthouse Annex III, 1103 4th St. in Floresville, Texas.

The free workshop, presented by the Texas A&M AgriLife Extension Service in cooperation with Platinum Wealth Solutions of Texas LLC, and Braun and Gresham Attorneys at Law, will address what landowners need to know to protect their property, family and legacy, said coordinators.

“This workshop should be helpful for farmers, ranchers and others in giving them some useful tips on financial planning and income improvement,” said Bryan Davis, AgriLife Extension agent for Wilson County. “There are things many of us need to know and do to prepare for our own — and our family’s — financial future, and this program will help participants build a better financial future.”

Topics to be covered will include the benefits of having a coordinated estate plan; succession, gift and estate planning; protecting assets from creditors and predators; and income and wealth maximization strategies.

For more information, please view the Angus Journal’s Virtual Library calendar of upcoming events here.

— Adapted from a release by Paul Schattenberg for Texas A&M AgriLife Communications.

— Compiled by Lynsey Meharg, intern, Angus Journal.