News Update
November 3, 2016
Angus Convention Takes on Indy
Passion for the future of the beef business will be on display this weekend in downtown Indianapolis, Ind., for the 2016 Angus Convention hosted by the American Angus Association.
The Angus breed, its members, commercial cow-calf producers, feeders and allied industry partners will gather Nov. 5-7 for a celebration of the year’s successes and a look ahead at quality’s role in overall beef production. Here’s what’s in store.
On Friday, Nov. 4, the Indiana Angus Association is hosting the National Angus Tour, which offers the opportunity for Angus producers all over the country to see Midwest genetics, management and feed resources.
The second-annual International Genomics Symposium, sponsored by Neogen GeneSeek Operations, begins at 10 a.m. Saturday, Nov. 5, and will provide cattle producers with cutting-edge information about advancements in genomics technology — and how these advances impact their businesses.
Continue reading this Angus Media article online.
Futures Trading
Volatility remains a concern in the beef cattle markets, and earlier this month, the CME Group announced it’s considering changes to the settlement process for live cattle futures contracts. Futures trading has received heavy scrutiny since January of this year, when the National Cattlemen’s Beef Association (NCBA) first expressed concern over the extreme market volatility.
A CME official told Reuters that discusions about the new settlement procedure were part of an all-encompassing review of the market by CME, driven by concerns over the price swings. He added that CME was also considering modifications to the physical delivery process and that the company has already reduced trading hours and made other changes to reduce volatility.
NCBA and other industry groups will continue to be involved as these conversations develop.
Learn more on this week’s The Angus Report. You can also catch the show at 1:30 p.m. CST Saturday or 7:30 a.m. CST each Monday on RFD-TV.
Protect Your Lungs
Without protective gear, working around grain dust can cause severe respiratory problems, says University of Missouri (MU) Extension safety and health specialist Karen Funkenbusch.
Conditions such as farmer’s lung are serious but preventable, she says. The need to protect against grain dust increases when farmers combine, load, unload and dry grain. The dust contains plant materials, mold spores, insect parts and excretions, bacteria and soil.
Exposure to the dust causes wheezing, sore throats, eye and nose irritation, and congestion. Repeated exposure leads to farmer’s lung. Its symptoms are chills, fever, cough, shortness of breath, tightness in the chest and tiredness. Typical symptoms may last 12 hours to 10 days.
Farmworkers should always wear a dust mask or respirator when working around grain, Funkenbusch says. Respirators come in a variety of types, sizes and costs at farm-supply stores, chemical suppliers, hardware stores or safety equipment companies. Choose one that fits securely around the mouth and nose.
For more information, view the Angus Media news article online.
Beef Demand-Building Efforts
Facing low cattle prices and increasing supplies of beef, and with strong encouragement from its state beef council partners, the Federation of State Beef Councils at the NCBA will invest nearly $1 million of reserve funds in international and national beef promotions to increase demand for beef.
The Federation Executive Committee voted for this additional spending at an NCBA Executive Committee meeting Nov. 1. The $940,000 investment, from Federation reserves, will be spent in the following areas:
- $260,000 to the U.S. Meat Export Federation (USMEF) for a promotion with national retail chains in Japan. The promotion is expected to move an additional 6.9 million pounds (lb.) of beef;
- $140,000 to the USMEF for regional retail promotion campaigns in Japan. The promotion could move another 2.75 million lb. of beef;
- $200,000 to the USMEF for a Korean beef promotion with national retail and second tier discount chains. The effort is expected to incrementally move about 5.8 million lb. of beef; and
- $40,000 to the USMEF for an Asian island promotion targeting a quickly-growing tourist destination which has growth opportunities for beef.
For more information, view the news release online.
Farm Management Program Addresses Tough Times
According to Garry Mathes, chair of the 2016 Missouri Livestock Symposium, producers and landowners coming to the Missouri Livestock Symposium Dec. 2-3 to participate in the farm management section can expect the speaker lineup to address some of the toughest questions facing agriculture today.
Scott Brown, University of Missouri (MU) ag economist, will return for the Saturday program to lead two discussions. The first talk focuses on “Land Values and Cash Rents: How Far Will They Fall” and the second talk concentrates on “Who is Winning the Agricultural Trade Game.” Brown brings many years of experience dealing with agricultural economics and farm management.
Also speaking in the Farm Management Section will be Jennifer Wood, crop insurance agent, discussing the changes and specifics of the Livestock Risk Protection Program, as well as additional information on the Pasture Range and Forage insurance program.
For more information, visit the Angus Journal Virtual Library calendar of upcoming events.
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