News Update

July 21, 2015

What to Do with Profitability

High market prices are providing an incentive for producers to grow their herds and increase their profitability, said John Michael Riley, Oklahoma State University (OSU). During the 2015 Beef Improvement Federation (BIF) Annual Convention, Riley addressed factors in the current market that will increase future herd profitability.

Identifying and utilizing a break-even point can help producers evaluate their profitability, said Riley, who recently took a position as assistant professor of ag economics at OSU. Although producers with high variable costs are able to make money with current market prices, historically they would be eliminated. In order to be a low-cost operation and receive the highest incentives on a dollar-value basis, producers should aim well below their break-even point.

“Reducing non-feed costs is paramount,” Riley said. “Being a jack of all trades can almost get you in trouble. Trying to do many things gets you doing many things somewhat poorly, instead of doing one thing extremely well.”

— Adapted from an article by Raney Lovorn, Angus Journal intern.

Aug. 4 Deadline for 10th Feeding Quality Forum

As cattle feeders aim to make the most of premiums for quality, align with market expectations and make ready for industry changes in the wind, they can find insight and answers at an annual forum at two locations on the Great Plains.

The 10th annual Feeding Quality Forum is set for the Omaha suburb of La Vista, Neb., on Aug. 18 and in Garden City, Kan., on Aug. 20.

For a decade, producers, feeders and allied industry have joined together annually for an education reunion to reap expert industry insight. This year’s topics include the perennial favorite market outlook from AgResource Co., tips to combat heat stress, advice on how to adopt current nutrition strategies and a peer panel on risk management.

Watch as Jill Dunkel, Feedlot Magazine editor, discusses the upcoming events in this video clip.

— Adapted from a release by Steve Suther, Certified Angus Beef.

New Beef Industry Long Range Plan Establishes Roadmap

During the 2015 Cattle Industry Summer Conference in Denver last week, 16 beef industry leaders representing every link in the beef value chain presented a plan for meeting aggressive goals to strengthen the beef industry from 2016-2020. The Beef Industry Long Range Plan Task Force has been meeting since December 2014.

“While the beef industry has faced many challenges, the future holds tremendous promise for the industry,” according to Don Schiefelbein, owner/operator of Schiefelbein Farms and task force co-chair. “The task force took a research-based approach to not only determine where the industry is and how we got here, but also at the trends and issues potentially impacting the beef community so that we can be most successful moving forward.”

The task force defined the mission of the U.S. beef industry as, “a beef community dedicated to growing beef demand by producing and marketing the safest, healthiest, most delicious beef that satisfies the desires of an increasing global population while responsibly managing our livestock and natural resources.”

Read more about the long range plan in the full news release online.

— Adapted from a release by the National Cattlemen’s Beef Association.

USDA Announces Funding for Rural Broadband Projects

On July 20, Agriculture Secretary Tom Vilsack announced $85.8 million in funding to strengthen access to high speed broadband for rural America.

“Broadband is fundamental to expanding economic opportunity and job creation in rural areas, and it is as vital to rural America’s future today as electricity was when USDA began bringing power to rural America 80 years ago,” said Vilsack. “…Improved connectivity means these communities can offer robust business services, expand access to health care and improve the quality of education in their schools, creating a sustainable and dynamic future [for] those who live and work in rural America.”

The Telecommunications Loan and Community Connect Grant programs are an important part of USDA’s broadband efforts. Since 2009, USDA has brought new or improved broadband access to more than 1.5 million households, businesses and community education, and public safety facilities.

Access a summary of the loans and grants announced this week in the full release online.

— Adapted from a release by the U.S. Department of Agriculture.

Grazing Lands Focus of Upcoming
Renowned National Conference

The National Grazing Lands Coalition will host the 6th National Conference on Grazing Lands Dec. 13-16 at the Hyatt Regency DFW near Grapevine, Texas. Conference organizers expect more than 1,200 ranchers, professors, land managers, researchers, public officials, conservationists and students to attend this national conference and participate in the exchange of ideas and information on grazing land environmental and economic practices and issues.

“We are excited about bringing this renowned national conference to Texas. Grazing lands make up more than a quarter of the private land acres in the United States and serve many roles from homes for livestock and wildlife to sponges for rainfall, carbon reservoirs, hunting and fishing grounds, and much, much more,” said Bob Drake, National Grazing Lands Coalition chairman emeritus. “Sustainably managing all these roles across 530 million acres of grazing lands in this nation is a huge balancing act.”

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

— Adapted from a release by the National Grazing Lands Coalition.

— Compiled by Jena McRell, Angus Media.