Weekly Livestock-Equine News: September 30, 2024

Farm conversion bill introduced in Washington

Three Senate and House members introduced the Industrial Agriculture Conversion Act (IACA), which would financially support farmers transitioning from concentrated animal feeding operations (CAFOs) to pasture-based animal agriculture or specialty crop production. The law would protect grant applicants from retaliation under the Packers and Stockyards Act, which is intended to protect members of the livestock, meat and poultry industries from unfair, deceptive, unjustly discriminatory and monopolistic practices.

Lower interest rates could boost prospects for U.S. exports

The Federal Reserve Board’s Sept. 18 decision to cut interest rates by half a percentage point could bolster the position of American farmers down the line, according to some financial analysts. With high interest rates, the strength of the dollar has made U.S. commodities more expensive for foreign buyers compared to other countries, hurting competitiveness.

Higher dairy prices reverse trend of declining profits

Dairy and milk prices are on the rise driven by tightening domestic production and lower feed costs, according to the USDA, reversing a trend of declining margins. USDA researchers revised their wholesale milk price estimates up 75 cents for the year to $23.05 per hundredweight. The national dairy herd declined 5,000 head from last month’s forecast and total U.S. milk production fell by 400 million pounds.

Colombia ends ban on U.S. beef imports

With the Colombian government lifting its ban on U.S. beef originating from states in which H5N1 was detected in dairy cows, U.S. Meat Export Federation President and CEO Dan Halstrom praised the U.S. government and agencies for their efforts to restore full access to that market. In his statement, Halstrom noted that prior to the restrictions imposed in April, Colombia was a promising market, averaging about $3 million per month in U.S. beef purchases. In July, exports fell to less than $850,000.

Colorado to consider property tax exemptions for more agricultural land

Colorado lawmakers could consider a bill next year that would broaden what constitutes a ranch for property tax exemption purposes to include land used for chicken and pig commercial farming. The exemption currently applies to land used for cattle, sheep, and growing hay.

U Kentucky to explore drones for livestock management

The University of Kentucky Martin-Gatton College of Agriculture, Food and Environment has secured a $910,000 grant from the USDA to explore how drones can assist in herding, monitoring and collecting physiological data from beef cattle. The five-year project, titled “Precision Livestock Management: Cattle Monitoring and Herding Using Cooperative Drones,” aims to reduce labor demands and enhance operational efficiency for livestock producers.