Restaurant sales are forecast to exceed $1.1 trillion this year, marking a new milestone for the industry that will employ over 15.7 million people in the United States by the end of 2024. The National Restaurant Association released its 2024 2024 State of the Restaurant Industry Report Tuesday.

The report finds restaurant operators are cautiously optimistic about the year ahead, with nearly eight in ten predicting their sales will increase or hold steady from 2023 levels. However, challenges still exist for the sector. Consumers will notice menu changes more frequently, and it's often the result of increased food costs. In the past year, operators report needing to find new suppliers, removing items from their menus, adjusting portion sizes or substituting lower cost items all in response to elevated food prices.

The availability of food items also impacted menu composition, with more than three-quarters of operators saying their restaurant experienced supply delays or shortages of key food or beverage items in 2023.

Restaurant sales are forecast to exceed $1.1 trillion this year, marking a new milestone for the industry that will employ over 15.7 million people in the United States by the end of 2024. The National Restaurant Association released its 2024 2024 State of the Restaurant Industry Report Tuesday.The report finds restaurant operators are cautiously optimistic about the year ahead, with nearly eight in ten predicting their sales will increase or hold steady from 2023 levels. However, challenges still exist for the sector. Consumers will notice menu changes more frequently, and it's often the result of increased food costs. In the past year, operators report needing to find new suppliers, removing items from their menus, adjusting portion sizes or substituting lower cost items all in response to elevated food prices.The availability of food items also impacted menu composition, with more than three-quarters of operators saying their restaurant experienced supply delays or shortages of key food or beverage items in 2023.-NAFB

Restaurant Industry Sales Forecast to Set $1.1 Trillion Record in 2024

Farmer sentiment took a downturn at the start of 2024 as the January Purdue University-CME Group Ag Economy Barometer Index fell to a reading of 106, eight points below a month earlier.

Compared to year-end, producers had a more negative outlook of their farms' current situation along with a weakened outlook for the future. The Current Conditions Index fell nine points, and the Future Expectations Index dropped seven points, both compared to December. Anticipated lower farm income in 2024 significantly influenced the decline across all indices, evident in the Farm Financial Performance Index registering at 85, 12 points lower than a month earlier.

The percentage of producers expecting weaker financial performance rose from 20 percent in December to 31 percent in January, while those expecting incomes to be about the same fell from 63 percent to 53 percent. The combination of high input costs and declining commodity prices generated a weaker financial performance outlook for 2024, according to the survey results.

Farmer sentiment took a downturn at the start of 2024 as the January Purdue University-CME Group Ag Economy Barometer Index fell to a reading of 106, eight points below a month earlier.Compared to year-end, producers had a more negative outlook of their farms' current situation along with a weakened outlook for the future. The Current Conditions Index fell nine points, and the Future Expectations Index dropped seven points, both compared to December. Anticipated lower farm income in 2024 significantly influenced the decline across all indices, evident in the Farm Financial Performance Index registering at 85, 12 points lower than a month earlier.The percentage of producers expecting weaker financial performance rose from 20 percent in December to 31 percent in January, while those expecting incomes to be about the same fell from 63 percent to 53 percent. The combination of high input costs and declining commodity prices generated a weaker financial performance outlook for 2024, according to the survey results.-NAFB

Market Prices, Input Costs, Pushing Expectations Lower

The University of Missouri Monday announced the launch of the Digital Agriculture Research and Extension Center.

The center aims to help farmers move toward a future of sustainable agriculture by leveraging digital technologies and artificial intelligence for increased productivity, sustainability and profitability.

A spokesperson for the effort says, “This is the future of farming in Missouri and elsewhere, and people are looking to us as a proven academic leader in this space.”

The effort was formed by a partnership between the University’s College of Agriculture, Food and Natural Resources, the MU Extension service, and the USDA’s Agricultural Research Service. The center will explore key areas in agriculture, such as crop production, soil health, precision livestock farming, and engineering innovations through research by faculty and students and collaboration with industry partners and agencies.

Adoption of any new technology takes time, and the center hopes to build trust and confidence in farmers and other stakeholders by being proactive in its education and outreach efforts.

The University of Missouri Monday announced the launch of the Digital Agriculture Research and Extension Center.The center aims to help farmers move toward a future of sustainable agriculture by leveraging digital technologies and artificial intelligence for increased productivity, sustainability and profitability.A spokesperson for the effort says, “This is the future of farming in Missouri and elsewhere, and people are looking to us as a proven academic leader in this space.”The effort was formed by a partnership between the University’s College of Agriculture, Food and Natural Resources, the MU Extension service, and the USDA’s Agricultural Research Service. The center will explore key areas in agriculture, such as crop production, soil health, precision livestock farming, and engineering innovations through research by faculty and students and collaboration with industry partners and agencies.Adoption of any new technology takes time, and the center hopes to build trust and confidence in farmers and other stakeholders by being proactive in its education and outreach efforts.-NAFB

Digital Agriculture Research and Extension Center Launched

U.S. Agricultural Negotiator Doug McKalip recently highlighted U.S. efforts to expand foreign markets for American beef, facing unscientific trade barriers.

McKalip told the National Cattlemen’s Beef Association at the group’s CattleCon 24 event, knocking down non-tariff trade barriers takes face-to-face talks with some of the U.S.' biggest trading partners.

“For example, Japan has greatly expanded their access for our products, and that’s a $2.3 billion market for US beef.”

McKalip says the U.S. Mexico Canada Agreement is another area where non-scientific trade barriers kept or continue to keep out U.S. product.

“There are, just over the course of the last year, about $6 billion that we were able to save by getting countries to remove those regulatory hurdles, and that makes a big difference for beef exporters, and keeps the trade moving.”

But the U.S. was forced to seek a second trade dispute settlement panel over Canada’s dairy import quotas, after accusing Ottawa of failing to comply with an initial ruling in the U.S.’s favor.

McKalip meantime, says other markets are prime targets for expansion.

“Southeast Asia is certainly a major player, the growing population, the growing middle class, that’s a place where we need to diversify and spend a lot of time developing those markets.”

While McKalip, recently in Africa, says there are over 30 countries there that are interested in buying US agricultural products.

McKalip this week also plans to address state department of agriculture leaders at their association’s annual winter policy conference.

U.S. Agricultural Negotiator Doug McKalip recently highlighted U.S. efforts to expand foreign markets for American beef, facing unscientific trade barriers.McKalip told the National Cattlemen’s Beef Association at the group’s CattleCon 24 event, knocking down non-tariff trade barriers takes face-to-face talks with some of the U.S.' biggest trading partners.“For example, Japan has greatly expanded their access for our products, and that’s a $2.3 billion market for US beef.”McKalip says the U.S. Mexico Canada Agreement is another area where non-scientific trade barriers kept or continue to keep out U.S. product.“There are, just over the course of the last year, about $6 billion that we were able to save by getting countries to remove those regulatory hurdles, and that makes a big difference for beef exporters, and keeps the trade moving.”But the U.S. was forced to seek a second trade dispute settlement panel over Canada’s dairy import quotas, after accusing Ottawa of failing to comply with an initial ruling in the U.S.’s favor.McKalip meantime, says other markets are prime targets for expansion.“Southeast Asia is certainly a major player, the growing population, the growing middle class, that’s a place where we need to diversify and spend a lot of time developing those markets.”While McKalip, recently in Africa, says there are over 30 countries there that are interested in buying US agricultural products.McKalip this week also plans to address state department of agriculture leaders at their association’s annual winter policy conference.-NAFB

USTR Ag Negotiator McKalip on Expanding US Beef Trade

The updated 2024 calendar year runoff forecast for the Missouri River Basin above Sioux City, Iowa, continues to be below average.

January runoff in the Missouri River Basin above Sioux City was 0.4 million acre-feet, 56 percent of average. Runoff was well-below-average due to much-below-normal temperatures over the whole Missouri River Basin and below-normal precipitation over most of the upper basin.

John Remus of the U.S. Army Corps of Engineers says, "The runoff into the reservoir system was well-below average for January," adding, "This fact in conjunction with the below-average plains and mountain snowpack indicates a below-normal runoff year for the basin.”

The 2024 calendar year runoff forecast above Sioux City is 18.8-million-acre feet, 73 percent of average. To conserve water in the system, releases from Gavins Point Dam are scheduled to be 13,000 cubic feet per second this winter while still serving the needs of the municipal, industrial and powerplant water intakes along the lower river.

The updated 2024 calendar year runoff forecast for the Missouri River Basin above Sioux City, Iowa, continues to be below average.January runoff in the Missouri River Basin above Sioux City was 0.4 million acre-feet, 56 percent of average. Runoff was well-below-average due to much-below-normal temperatures over the whole Missouri River Basin and below-normal precipitation over most of the upper basin.John Remus of the U.S. Army Corps of Engineers says, "The runoff into the reservoir system was well-below average for January," adding, "This fact in conjunction with the below-average plains and mountain snowpack indicates a below-normal runoff year for the basin.”The 2024 calendar year runoff forecast above Sioux City is 18.8-million-acre feet, 73 percent of average. To conserve water in the system, releases from Gavins Point Dam are scheduled to be 13,000 cubic feet per second this winter while still serving the needs of the municipal, industrial and powerplant water intakes along the lower river.-NAFB

Missouri River Runoff Below Normal

This week marks ten years since the Department of Agriculture created regional Climate Hubs. The hubs were established to help agricultural producers and rural communities make climate-informed decisions.

Agriculture Secretary Tom Vilsack says, "Today, as those risks are increasingly prevalent across the nation and the globe, the need for science-based climate information and assistance is more important than ever."

The Climate Hubs are an important piece of USDA's agenda to address climate change, complementing investments of $19.5 billion through the Inflation Reduction Act, the largest-ever climate investment, to help producers adopt climate-smart practices. Originally, ten regional locations were established across the United States. In May 2023, an International Climate Hub was added to share best practices, collaborate with international partners and improve the world's ability to mitigate and adapt to climate.

Today, the Climate Hubs form a network of more than 120 climate researchers and communicators who work across the USDA and with partners to support climate-informed decisions.

This week marks ten years since the Department of Agriculture created regional Climate Hubs. The hubs were established to help agricultural producers and rural communities make climate-informed decisions.Agriculture Secretary Tom Vilsack says, "Today, as those risks are increasingly prevalent across the nation and the globe, the need for science-based climate information and assistance is more important than ever."The Climate Hubs are an important piece of USDA's agenda to address climate change, complementing investments of $19.5 billion through the Inflation Reduction Act, the largest-ever climate investment, to help producers adopt climate-smart practices. Originally, ten regional locations were established across the United States. In May 2023, an International Climate Hub was added to share best practices, collaborate with international partners and improve the world's ability to mitigate and adapt to climate.Today, the Climate Hubs form a network of more than 120 climate researchers and communicators who work across the USDA and with partners to support climate-informed decisions.-NAFB

USDA Celebrates 10 Years of Climate Hubs

Bill Northey, a long-time agriculture industry figure, and former USDA official in the Trump administration, has died.

The 64- year-old was serving as the CEO of the Agribusiness Association of Iowa. Northey grew up on an Iowa family farm. He has served as President of the National Corn Growers Association, three terms as the Iowa Agriculture Secretary, and as USDA Farm Production and Conservation undersecretary during the Trump administration.

Senator Chuck Grassley, an Iowa Republican, commented, “Today the Iowa farm community lost a giant. Bill Northey was a dear friend and fierce advocate for the family farmer.” Iowa Governor Kim Reynolds added, “Bill understood well our responsibility to be good stewards of the land and exemplified that calling throughout his career.”

Reynolds has ordered all flags in Iowa to be lowered to half-staff immediately and remain at half-staff until sunset on the day of Northey’s funeral and interment.

Bill Northey, a long-time agriculture industry figure, and former USDA official in the Trump administration, has died.The 64- year-old was serving as the CEO of the Agribusiness Association of Iowa. Northey grew up on an Iowa family farm. He has served as President of the National Corn Growers Association, three terms as the Iowa Agriculture Secretary, and as USDA Farm Production and Conservation undersecretary during the Trump administration.Senator Chuck Grassley, an Iowa Republican, commented, “Today the Iowa farm community lost a giant. Bill Northey was a dear friend and fierce advocate for the family farmer.” Iowa Governor Kim Reynolds added, “Bill understood well our responsibility to be good stewards of the land and exemplified that calling throughout his career.”Reynolds has ordered all flags in Iowa to be lowered to half-staff immediately and remain at half-staff until sunset on the day of Northey’s funeral and interment.-NAFB

Industry Leader Northey Passes

The American Lamb Board kicked off Lamb Lover’s Month in February with an exciting campaign titled “Show Us Your Chops.” It invites consumers to enjoy savory lamb chops at their favorite restaurants or cook their favorite recipes at home.

The promotion features rack and loin chop recipes to help consumers create a romantic date night or a special dinner with friends or family featuring delicious American lamb. Consumers are invited to share their photos of their lamb chops at a restaurant or at home on the ALB consumer website or social media with the hashtag #showusyourchops. The contest will be promoted through social media advertising and sponsored blogger content throughout February.

“While Lamb Lovers Month has become a tradition for ALB, it’s also a very effective promotion for reaching new consumers with recipes and information about American lamb to expand usage beyond the traditional holidays,” says Jeff Ebert, ALB chairman.

The American Lamb Board kicked off Lamb Lover’s Month in February with an exciting campaign titled “Show Us Your Chops.” It invites consumers to enjoy savory lamb chops at their favorite restaurants or cook their favorite recipes at home.The promotion features rack and loin chop recipes to help consumers create a romantic date night or a special dinner with friends or family featuring delicious American lamb. Consumers are invited to share their photos of their lamb chops at a restaurant or at home on the ALB consumer website or social media with the hashtag #showusyourchops. The contest will be promoted through social media advertising and sponsored blogger content throughout February.“While Lamb Lovers Month has become a tradition for ALB, it’s also a very effective promotion for reaching new consumers with recipes and information about American lamb to expand usage beyond the traditional holidays,” says Jeff Ebert, ALB chairman.-NAFB

Lamb Lovers Month is Back

The bipartisan tax bill the House just passed overwhelmingly likely has enough Senate votes, but GOP detractors there vow to slow it down. The House vote approving the tax bill with key breaks for agriculture was 5 to 1.

American Farm Bureau Director of Government Affairs Dustin Sherer says that should be good news for the bill in the Senate.

“So, if you apply that same generalization over there, yeah, it’s got the votes to pass. It should be bipartisan. But whether or not there are senators that oppose it so much that they try to drag the process out.”

Several GOP senators now vow to do just that, seeking changes to the bill’s renewed expansion of the childcare tax credit. And Sherer points out how easy it is in the Senate to slow things down.

“If one senator objects to a time agreement, you don’t get a time agreement. It’s just how that place works.”

Not having a set debate time forces multiple 60-vote procedural hurdles to overcome filibuster tactics. But Sherer says Democrats must also consider savings achieved now by making the retroactive tax cuts ahead of next year’s tax cliff for these breaks.

“They have the incentive to be engaged when it comes time to talk about extending the Tax Cuts and Jobs Act expiring provisions, almost entirely fall on the individual side of the code, when farmers and ranchers file their taxes.”

The bipartisan tax bill the House just passed overwhelmingly likely has enough Senate votes, but GOP detractors there vow to slow it down. The House vote approving the tax bill with key breaks for agriculture was 5 to 1.American Farm Bureau Director of Government Affairs Dustin Sherer says that should be good news for the bill in the Senate.“So, if you apply that same generalization over there, yeah, it’s got the votes to pass. It should be bipartisan. But whether or not there are senators that oppose it so much that they try to drag the process out.”Several GOP senators now vow to do just that, seeking changes to the bill’s renewed expansion of the childcare tax credit. And Sherer points out how easy it is in the Senate to slow things down.“If one senator objects to a time agreement, you don’t get a time agreement. It’s just how that place works.”Not having a set debate time forces multiple 60-vote procedural hurdles to overcome filibuster tactics. But Sherer says Democrats must also consider savings achieved now by making the retroactive tax cuts ahead of next year’s tax cliff for these breaks.“They have the incentive to be engaged when it comes time to talk about extending the Tax Cuts and Jobs Act expiring provisions, almost entirely fall on the individual side of the code, when farmers and ranchers file their taxes.”-NAFB

Tax Bill Likely Has Enough Senate Vote, But Detractors Vow to Slow Process

The CattleFax Outlook Seminar at the 2024 Cattle Industry Convention and NCBA Trade Show in Florida shared expert market and weather analytics last week. The smallest beef cow inventory in the last 50 years, coupled with historically strong demand, led to the highest average fed cattle and calf prices in 2023.

As reduced cattle numbers and beef production continue over the next three years, leverage and profitability will continue to favor cattle producers. Despite record prices, an expansion will likely be delayed once again. Lingering drought, high input costs, limited labor availability, high interest rates, and market uncertainty all serve as headwinds against growing the cow herd.

Cow and bull slaughter is forecast to be 6.5 million head in 2024, down around 800,000 head from 2023. “Though cattle inventories may stay elevated for a few months, they are expected to decline significantly through the second half of 2024,” says Kevin Good of CattleFax.

The CattleFax Outlook Seminar at the 2024 Cattle Industry Convention and NCBA Trade Show in Florida shared expert market and weather analytics last week. The smallest beef cow inventory in the last 50 years, coupled with historically strong demand, led to the highest average fed cattle and calf prices in 2023.As reduced cattle numbers and beef production continue over the next three years, leverage and profitability will continue to favor cattle producers. Despite record prices, an expansion will likely be delayed once again. Lingering drought, high input costs, limited labor availability, high interest rates, and market uncertainty all serve as headwinds against growing the cow herd.Cow and bull slaughter is forecast to be 6.5 million head in 2024, down around 800,000 head from 2023. “Though cattle inventories may stay elevated for a few months, they are expected to decline significantly through the second half of 2024,” says Kevin Good of CattleFax.-NAFB

CattleFax Forecasts Profitability, Herd Expansion Ahead

The Land Report Research Team issued a report detailing who are America’s largest landowners. The “Land Report 100” shows that as of 2021, America’s largest landowner is named Red Emmerson.

He and his family own just over 2.4 million acres in California, Oregon, and Washington through their timber products company, Sierra Pacific Industries. They surpassed Liberty Media Chairman John Malone’s 2.2 million acres. CNN founder Ted Turner is America’s third biggest landowner with two million acres in the Southeast, Great Plains, and across the West.

The Lane Report 100 research team analyzes transactions and scours records to determine who are America’s leading landowners. That’s how they broke the news in 2020 that Microsoft co-founder Bill Gates was America’s largest farmland owner with more than 260,000 acres. They used the same methodology to identify the founder of the Shanda Investment Group as the owner of almost 200,000 acres of Oregon timberland this year.

The Land Report Research Team issued a report detailing who are America’s largest landowners. The “Land Report 100” shows that as of 2021, America’s largest landowner is named Red Emmerson.He and his family own just over 2.4 million acres in California, Oregon, and Washington through their timber products company, Sierra Pacific Industries. They surpassed Liberty Media Chairman John Malone’s 2.2 million acres. CNN founder Ted Turner is America’s third biggest landowner with two million acres in the Southeast, Great Plains, and across the West.The Lane Report 100 research team analyzes transactions and scours records to determine who are America’s leading landowners. That’s how they broke the news in 2020 that Microsoft co-founder Bill Gates was America’s largest farmland owner with more than 260,000 acres. They used the same methodology to identify the founder of the Shanda Investment Group as the owner of almost 200,000 acres of Oregon timberland this year.-NAFB

America’s Biggest Landowners

USDA data shows the U.S. soybean crush rose month-to-month but missed expectations. Processors crushed 204 million bushels of soybeans in December, up from 200 million a month earlier.

The agency’s report says that’s up from the 187 million bushels processed in December 2022 but is still down from the 206 million forecast before the report went public. Crude oil produced from the crush rose to 2.38 billion pounds, up two percent from November and eight percent from the same month a year earlier. Iowa was by far the biggest crusher of soybeans at approximately 49.3 million bushels, with Illinois second at 25.4 million bushels.

The states combined for 37 percent of the soybeans crushed in the U.S. during December. About 51.4 million bushels were crushed in the north and east region, which includes Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. Processors in the north-central region crushed 37 million bushels of soybeans.

USDA data shows the U.S. soybean crush rose month-to-month but missed expectations. Processors crushed 204 million bushels of soybeans in December, up from 200 million a month earlier.The agency’s report says that’s up from the 187 million bushels processed in December 2022 but is still down from the 206 million forecast before the report went public. Crude oil produced from the crush rose to 2.38 billion pounds, up two percent from November and eight percent from the same month a year earlier. Iowa was by far the biggest crusher of soybeans at approximately 49.3 million bushels, with Illinois second at 25.4 million bushels.The states combined for 37 percent of the soybeans crushed in the U.S. during December. About 51.4 million bushels were crushed in the north and east region, which includes Indiana, Kentucky, Maryland, Ohio, Pennsylvania, and Virginia. Processors in the north-central region crushed 37 million bushels of soybeans.-NAFB

Soybean Crush Rises But Short of Predictions

&nbsp;Farm State members of Congress helped push sweeping tax legislation across the finish line in the House, though some Ag Senators seem reluctant to throw their support behind the bill. Their message prevailed over bill opponents on both sides of the aisle—farmers and ranchers will benefit from the bipartisan, bicameral tax deal the House passed 357-70.

“Agriculture’s the economic engine of my district, and our tax policies must help our farmers grow, invest and compete with China. This legislation does exactly that.”

“100 percent bonus depreciation and the expansion of the Section 179 deduction limit. Our producers rely on these tools to buy farm equipment and invest in their operations.”

And from Nebraska Republican Adrian Smith on the tax writing Ways and Means Committee.

“This bill includes language that I introduced to ensure capital intensive industries can fully deduct the cost of interest from their taxes. This is particularly important right now, as Americans continue to deal with recent high inflation and higher interest rates.”

But in the Senate, Republicans Chuck Grassley, Thom Tillis and Mitt Romney, quoted in the Washington Post, criticized the bill, Grassley citing the political benefits to President Biden in an election year while withholding final judgment.

Still, groups on both sides of the political spectrum rallied behind the bill.

American Farm Bureau Federation President Zippy Duvall in a written statement, said the bill will bring “meaningful tax relief to our nation’s farmers and ranchers at a time of high interest rates and slim margins.” He urged the Senate to “swiftly” pass it.

&nbsp;Farm State members of Congress helped push sweeping tax legislation across the finish line in the House, though some Ag Senators seem reluctant to throw their support behind the bill. Their message prevailed over bill opponents on both sides of the aisle—farmers and ranchers will benefit from the bipartisan, bicameral tax deal the House passed 357-70.Iowa’s Randy Feenstra.“Agriculture’s the economic engine of my district, and our tax policies must help our farmers grow, invest and compete with China. This legislation does exactly that.”From two key provisions.“100 percent bonus depreciation and the expansion of the Section 179 deduction limit. Our producers rely on these tools to buy farm equipment and invest in their operations.”And from Nebraska Republican Adrian Smith on the tax writing Ways and Means Committee.“This bill includes language that I introduced to ensure capital intensive industries can fully deduct the cost of interest from their taxes. This is particularly important right now, as Americans continue to deal with recent high inflation and higher interest rates.”But in the Senate, Republicans Chuck Grassley, Thom Tillis and Mitt Romney, quoted in the Washington Post, criticized the bill, Grassley citing the political benefits to President Biden in an election year while withholding final judgment.Still, groups on both sides of the political spectrum rallied behind the bill.American Farm Bureau Federation President Zippy Duvall in a written statement, said the bill will bring “meaningful tax relief to our nation’s farmers and ranchers at a time of high interest rates and slim margins.” He urged the Senate to “swiftly” pass it.-NAFB

Farm State Reps Praise Tax Bill, Some Ag Senators Raise Doubts

Veterinarians will visit Capitol Hill next Tuesday to discuss legislative priorities with lawmakers. As part of the American Veterinary Medical Association's annual legislative fly-in, advocates will urge congressional offices to support and cosponsor the Rural Veterinary Workforce Act.

AVMA President Dr. Rena Carlson says, "We need to do more to attract and retain veterinarians in rural and underserved areas, and the Rural Veterinary Workforce Act will go a long way to address those needs,"

The AVMA-endorsed Rural Veterinary Workforce Act would end federal taxation on the Veterinary Medicine Loan Repayment Program. This action would enable more veterinarians to participate in a program that offers up to $25,000 a year for student loan repayment in exchange for service in Department of Agriculture-designated

Veterinarian Shortage Situations. AVMA is also seeking support for the Healthy Dog Importation Act within the next Farm Bill, which the group says would decrease the chances of future disease outbreaks from imported dogs.

Veterinarians will visit Capitol Hill next Tuesday to discuss legislative priorities with lawmakers. As part of the American Veterinary Medical Association's annual legislative fly-in, advocates will urge congressional offices to support and cosponsor the Rural Veterinary Workforce Act.AVMA President Dr. Rena Carlson says, "We need to do more to attract and retain veterinarians in rural and underserved areas, and the Rural Veterinary Workforce Act will go a long way to address those needs,"The AVMA-endorsed Rural Veterinary Workforce Act would end federal taxation on the Veterinary Medicine Loan Repayment Program. This action would enable more veterinarians to participate in a program that offers up to $25,000 a year for student loan repayment in exchange for service in Department of Agriculture-designatedVeterinarian Shortage Situations. AVMA is also seeking support for the Healthy Dog Importation Act within the next Farm Bill, which the group says would decrease the chances of future disease outbreaks from imported dogs.-NAFB

AVMA Plans Annual Legislative Fly-in

USDA's National Agricultural Statistics Service this week released the Cattle report showing a two percent decline in U.S. cattle inventory.

The report shows 87.2 million head of cattle and calves on U.S. farms as of January 1, 2024. Of the 87.2 million head inventory, all cows and heifers that have calved totaled 37.6 million. There are 28.2 million beef cows in the United States, down two percent from last year. The number of milk cows in the United States decreased slightly to 9.36 million.

The U.S. calf crop was estimated at 33.6 million head, down two percent from 2022. All cattle on feed were at 14.4 million head, up two percent from 2023. To obtain an accurate measurement of the current state of the U.S. cattle industry, NASS surveyed approximately 36,300 operators across the nation during the first half of January.

Surveyed producers were asked to report their cattle inventories as of January 1, 2024, and calf crop for the entire year of 2023.

USDA's National Agricultural Statistics Service this week released the Cattle report showing a two percent decline in U.S. cattle inventory.The report shows 87.2 million head of cattle and calves on U.S. farms as of January 1, 2024. Of the 87.2 million head inventory, all cows and heifers that have calved totaled 37.6 million. There are 28.2 million beef cows in the United States, down two percent from last year. The number of milk cows in the United States decreased slightly to 9.36 million.The U.S. calf crop was estimated at 33.6 million head, down two percent from 2022. All cattle on feed were at 14.4 million head, up two percent from 2023. To obtain an accurate measurement of the current state of the U.S. cattle industry, NASS surveyed approximately 36,300 operators across the nation during the first half of January.Surveyed producers were asked to report their cattle inventories as of January 1, 2024, and calf crop for the entire year of 2023.-NAFB

USDA Report Shows Cattle Inventory Declines

A new poll of agricultural economists by Farm Journal shows most expect lower commodity prices, along with the outlook for higher costs, to weigh on the agriculture industry in 2024.

Farm Journal has partnered with the University of Missouri to create the Ag Economists' Monthly Monitor. University of Missouri agricultural economist Scott Brown says, “If we continue down the path that we started with the January estimates, perhaps we're telling 2024 to be a less positive story than we would have just a few months ago.”

Ag economists' forecast for prices of all crops and livestock shifted lower compared to the December survey, signaling net farm income could also fall more than originally anticipated. The January survey found economists' views on net farm income also took a turn, with the survey average falling to $135 billion for 2024. However, ag economists think relatively strong balance sheets and working capital could provide a cushion for 2024 with no major concerns about immediate farm solvency issues.

A new poll of agricultural economists by Farm Journal shows most expect lower commodity prices, along with the outlook for higher costs, to weigh on the agriculture industry in 2024.Farm Journal has partnered with the University of Missouri to create the Ag Economists' Monthly Monitor. University of Missouri agricultural economist Scott Brown says, “If we continue down the path that we started with the January estimates, perhaps we're telling 2024 to be a less positive story than we would have just a few months ago.”Ag economists' forecast for prices of all crops and livestock shifted lower compared to the December survey, signaling net farm income could also fall more than originally anticipated. The January survey found economists' views on net farm income also took a turn, with the survey average falling to $135 billion for 2024. However, ag economists think relatively strong balance sheets and working capital could provide a cushion for 2024 with no major concerns about immediate farm solvency issues.-NAFB

New Poll Suggests Ag Economic Downturn

With the second biggest eating day of the year after Thanksgiving upon us, there’s no hotter time for chicken wings. According to the National Chicken Council’s 2024 Wing Report, Americans will devour 1.45 billion wings while watching Kansas City and San Francisco battle for the championship trophy.

National Chicken Council spokesperson Tom Super says, “Sure, you can have your chips, your guacamole, your pizza. But when it comes to menus next Sunday, wings rule the roost.”

This year’s projection is flat compared to 2023, with USDA reporting chicken production levels are slightly down from last year and wing stocks in cold storage down 13 percent in November compared to the year prior. This could explain the higher demand and, thus, the higher wholesale prices we see on wings. At the retail level, fresh chicken wing prices are down approximately five percent, and frozen wing prices are down 11 percent compared to January 2023.

With the second biggest eating day of the year after Thanksgiving upon us, there’s no hotter time for chicken wings. According to the National Chicken Council’s 2024 Wing Report, Americans will devour 1.45 billion wings while watching Kansas City and San Francisco battle for the championship trophy.National Chicken Council spokesperson Tom Super says, “Sure, you can have your chips, your guacamole, your pizza. But when it comes to menus next Sunday, wings rule the roost.”This year’s projection is flat compared to 2023, with USDA reporting chicken production levels are slightly down from last year and wing stocks in cold storage down 13 percent in November compared to the year prior. This could explain the higher demand and, thus, the higher wholesale prices we see on wings. At the retail level, fresh chicken wing prices are down approximately five percent, and frozen wing prices are down 11 percent compared to January 2023.-NAFB

Americans to Eat 1.45 Billion Chicken Wings for the Big Game

A big tax break for farm and other equipment is part of a $78 billion bipartisan, bicameral tax package the House was advancing late Wednesday despite some opposition on both sides.

The tax bill would fully restore a major tax break for farm and other equipment included in the 2017 tax law.

House Ways and Means Committee Chair Jason Smith told CNBC recently, bonus depreciation would phase down without the legislation

“It was 80 percent last year, it’s 60 percent this year, it’ll go to 40 percent next year. We’re making it at a hundred percent, once again.”

Allowing for full and immediate expensing for farm and other equipment, spurring local farm implement sales, jobs, and increased farm productivity.

And Smith told his Ways and Means Committee, the bill also provides relief from another big expense farm and other businesses face

“We also saw how small businesses benefited from interest deductibility. Companies increased their investment by 17 percent and reduced their levels of debt. Right now, small, and mid-sized businesses are getting hammered by interest rates that are the highest in 23 years.”

Smith says restoring interest expensing will create more than 850,000 jobs and 58 billion in additional take-home pay for workers.

Plus, the bill that still needs Senate ok, includes tax relief for communities upended by hurricanes, floods, wildfires and other natural or manmade disasters.

Smith negotiated the sweeping bicameral measure with his Senate counterpart, Finance Chair Ron Wyden.

A big tax break for farm and other equipment is part of a $78 billion bipartisan, bicameral tax package the House was advancing late Wednesday despite some opposition on both sides.The tax bill would fully restore a major tax break for farm and other equipment included in the 2017 tax law.House Ways and Means Committee Chair Jason Smith told CNBC recently, bonus depreciation would phase down without the legislation“It was 80 percent last year, it’s 60 percent this year, it’ll go to 40 percent next year. We’re making it at a hundred percent, once again.”Allowing for full and immediate expensing for farm and other equipment, spurring local farm implement sales, jobs, and increased farm productivity.And Smith told his Ways and Means Committee, the bill also provides relief from another big expense farm and other businesses face“We also saw how small businesses benefited from interest deductibility. Companies increased their investment by 17 percent and reduced their levels of debt. Right now, small, and mid-sized businesses are getting hammered by interest rates that are the highest in 23 years.”Smith says restoring interest expensing will create more than 850,000 jobs and 58 billion in additional take-home pay for workers.Plus, the bill that still needs Senate ok, includes tax relief for communities upended by hurricanes, floods, wildfires and other natural or manmade disasters.Smith negotiated the sweeping bicameral measure with his Senate counterpart, Finance Chair Ron Wyden.-NAFB

House Advances Tax Bill with Bonus Depreciation for Farm Equipment

Vanguard Renewables announced the addition of Foremost Farms USA to the Farm Powered Strategic Alliance this week.

The strategic partnership marks a significant milestone in pursuing sustainable organic waste reduction and renewable energy generation within the dairy industry, according to Vanguard Renewables CEO Neil Smith. Speaking of Foremost Farms, Smith says, "Their members' commitment to sustainable farming practices is helping to create a more sustainable future for the dairy industry, and their desire to work with and learn from like-minded organizations to explore solutions for food waste aligns with our mission."

By joining the alliance, Foremost Farms aims to further strengthen its dedication to sustainable practices and support generational dairy farmers across America. The Farm Powered Strategic Alliance is described as a collaborative initiative focused on driving systemic change, dedicated to promoting sustainable organic waste reduction.

Vanguard Renewables partners with food and beverage manufacturers to recycle their inedible food waste via Farm Powered anaerobic digestion, which converts organic waste into renewable natural gas.

Vanguard Renewables announced the addition of Foremost Farms USA to the Farm Powered Strategic Alliance this week.The strategic partnership marks a significant milestone in pursuing sustainable organic waste reduction and renewable energy generation within the dairy industry, according to Vanguard Renewables CEO Neil Smith. Speaking of Foremost Farms, Smith says, "Their members' commitment to sustainable farming practices is helping to create a more sustainable future for the dairy industry, and their desire to work with and learn from like-minded organizations to explore solutions for food waste aligns with our mission."By joining the alliance, Foremost Farms aims to further strengthen its dedication to sustainable practices and support generational dairy farmers across America. The Farm Powered Strategic Alliance is described as a collaborative initiative focused on driving systemic change, dedicated to promoting sustainable organic waste reduction.Vanguard Renewables partners with food and beverage manufacturers to recycle their inedible food waste via Farm Powered anaerobic digestion, which converts organic waste into renewable natural gas.-NAFB

Foremost Farms Joins Vanguard Renewables Strategic Alliance

Lawmakers in the House of Representative’s Wednesday launched a new Agricultural Trade Caucus. The effort seeks to advance and promote policies vital to U.S. agriculture, including boosting agricultural exports, facilitating food and agriculture trade, and knocking down unnecessary trade barriers.

The caucus includes Republicans Adrain Smith of Nebraska, Dusty Johnson of South Dakota, and California Democrats Jim Costa and Jimmy Pennetta.

In the announcement, Penetta says, “Congress needs to be more active in promoting trade agreements that will keep American producers competitive and empower them to feed the world.” The new caucus will work to solidify support for trade policies that benefit farmers, ranchers, producers, rural communities, and all those along our food and agricultural supply chains.

American Farm Bureau Federation President Zippy Duvall responded, “AFBF appreciates House lawmakers for coming together in a bipartisan manner to form an agriculture trade caucus,” adding, “We have a real opportunity to showcase American agriculture on the global stage

Lawmakers in the House of Representative’s Wednesday launched a new Agricultural Trade Caucus. The effort seeks to advance and promote policies vital to U.S. agriculture, including boosting agricultural exports, facilitating food and agriculture trade, and knocking down unnecessary trade barriers.The caucus includes Republicans Adrain Smith of Nebraska, Dusty Johnson of South Dakota, and California Democrats Jim Costa and Jimmy Pennetta.In the announcement, Penetta says, “Congress needs to be more active in promoting trade agreements that will keep American producers competitive and empower them to feed the world.” The new caucus will work to solidify support for trade policies that benefit farmers, ranchers, producers, rural communities, and all those along our food and agricultural supply chains.American Farm Bureau Federation President Zippy Duvall responded, “AFBF appreciates House lawmakers for coming together in a bipartisan manner to form an agriculture trade caucus,” adding, “We have a real opportunity to showcase American agriculture on the global stage-NAFB

Trade Caucus Presents Opportunities for Agriculture

The National Cattlemen’s Beef Association’s Executive Committee approved the organization’s policy priorities at the 2024 Cattle Industry Convention and NCBA Trade Show.

This year’s priorities focus on advocating for the reauthorization of the Farm Bill, protecting cattle producers from federal regulatory overreach, and defending the U.S. cattle industry against external attacks.

NCBA President-Elect Mark Eisele says, "NCBA will continue pushing for passage of a Farm Bill that includes key animal health and voluntary conservation provisions, as well as hold the line against all federal policies that could damage the livelihoods of U.S. cattle producers."

Other priorities include the fight against misguided Endangered Species Act rules and any expansion of bureaucratic red tape under the National Environmental Policy Act. Additionally, NCBA wants to preserve family farms and ranches for future generations by advocating for essential tax relief for cattle producers.

Learn more and find the full list of 2024 policy priorities at ncba.org.

The National Cattlemen’s Beef Association’s Executive Committee approved the organization’s policy priorities at the 2024 Cattle Industry Convention and NCBA Trade Show.This year’s priorities focus on advocating for the reauthorization of the Farm Bill, protecting cattle producers from federal regulatory overreach, and defending the U.S. cattle industry against external attacks.NCBA President-Elect Mark Eisele says, "NCBA will continue pushing for passage of a Farm Bill that includes key animal health and voluntary conservation provisions, as well as hold the line against all federal policies that could damage the livelihoods of U.S. cattle producers."Other priorities include the fight against misguided Endangered Species Act rules and any expansion of bureaucratic red tape under the National Environmental Policy Act. Additionally, NCBA wants to preserve family farms and ranches for future generations by advocating for essential tax relief for cattle producers.Learn more and find the full list of 2024 policy priorities at ncba.org.-NAFB

NCBA Releases 2024 Policy Priorities

U.S. farmers and Ag equipment makers are between a rock and a hard place with China, in need of massive trade there but vulnerable amid the strategic U.S.-China competition. Illinois Rep. Darin LaHood on the Select Committee on U.S.-CCP Competition complained China’s failed to live up to global trading rules since the U.S. agreed to China’s WTO accession in 2001.

LaHood told a Select Committee hearing that’s hurt his farmers and farm equipment makers, now caught in the middle of stiff U.S.-China economic, military, and diplomatic competition.

“Corn and soybeans, 40 percent go to China every year. My farmers need to rely on that market to do it. Take your Fortune 200 companies that are heavily invested in China, they’re in bed in many ways with the CCP in terms of their business there. I have the largest concentration of Caterpillar workers anywhere in the world. CAT has 29 manufacturing plants in China.”

LaHood told former Secretary of State Mike Pompeo that many in Congress want to go to an economic “Cold War” with China, but Pompeo cautioned the outcome is not just up to the U.S.

“Don’t count on the fact that it will be a U.S. policy decision that drives them out of the country. We can see this already, today - Executives being detained, products not being permitted to move - the Chinese Communist Party will have a say in the level of disconnection between our two economies. And I think Xi Jinping is intent on making his country more self-reliant.”

LaHood argued his Illinois businesses want Congress to “step on the brakes” a bit in confronting China. Pompeo argues otherwise.

“So, I would urge those leaders of those businesses to be thinking about alternative markets and how you de-risk your balance sheet from a presence in China today and doing so immediately.”

Former CIA and Defense Chief Leon Panetta agreed with Pompeo, saying the U.S. should use the leverage of moving supply chains out of China if it needs to. Pompeo argued the CCP needs the U.S. more than the other way around.

U.S. farmers and Ag equipment makers are between a rock and a hard place with China, in need of massive trade there but vulnerable amid the strategic U.S.-China competition. Illinois Rep. Darin LaHood on the Select Committee on U.S.-CCP Competition complained China’s failed to live up to global trading rules since the U.S. agreed to China’s WTO accession in 2001.LaHood told a Select Committee hearing that’s hurt his farmers and farm equipment makers, now caught in the middle of stiff U.S.-China economic, military, and diplomatic competition.“Corn and soybeans, 40 percent go to China every year. My farmers need to rely on that market to do it. Take your Fortune 200 companies that are heavily invested in China, they’re in bed in many ways with the CCP in terms of their business there. I have the largest concentration of Caterpillar workers anywhere in the world. CAT has 29 manufacturing plants in China.”LaHood told former Secretary of State Mike Pompeo that many in Congress want to go to an economic “Cold War” with China, but Pompeo cautioned the outcome is not just up to the U.S.“Don’t count on the fact that it will be a U.S. policy decision that drives them out of the country. We can see this already, today - Executives being detained, products not being permitted to move - the Chinese Communist Party will have a say in the level of disconnection between our two economies. And I think Xi Jinping is intent on making his country more self-reliant.”LaHood argued his Illinois businesses want Congress to “step on the brakes” a bit in confronting China. Pompeo argues otherwise.“So, I would urge those leaders of those businesses to be thinking about alternative markets and how you de-risk your balance sheet from a presence in China today and doing so immediately.”Former CIA and Defense Chief Leon Panetta agreed with Pompeo, saying the U.S. should use the leverage of moving supply chains out of China if it needs to. Pompeo argued the CCP needs the U.S. more than the other way around.-NAFB

IL Rep LaHood Slams PRC Ag Trade Practices at CCP Select Committee Hearing

Soybean and wheat inspections for exports declined in the week ending on January 25, while the corn total improved. USDA data says soybean inspections last week reached 889,717 metric tons, down from 1.18 million a week earlier. That’s also down from the 1.93 million tons examined during the same week last year.

Wheat assessments came in at 264,666 tons, down from 315,186 tons the prior week, and well below the 446,000 tons inspected during the same period last year. Corn inspections rose to almost 902,000 tons from 746,900 the week before and 545,000 tons at the same time in 2023.

Since the start of the marketing year, USDA has inspected 15.6 million metric tons of corn for export, up from 12.1 million last year. Soybean inspections now stand at 27.7 million tons, down from 36.2 million last year. Wheat inspections are at 11 million tons, down from 13.2 million last year.

Soybean and wheat inspections for exports declined in the week ending on January 25, while the corn total improved. USDA data says soybean inspections last week reached 889,717 metric tons, down from 1.18 million a week earlier. That’s also down from the 1.93 million tons examined during the same week last year.Wheat assessments came in at 264,666 tons, down from 315,186 tons the prior week, and well below the 446,000 tons inspected during the same period last year. Corn inspections rose to almost 902,000 tons from 746,900 the week before and 545,000 tons at the same time in 2023.Since the start of the marketing year, USDA has inspected 15.6 million metric tons of corn for export, up from 12.1 million last year. Soybean inspections now stand at 27.7 million tons, down from 36.2 million last year. Wheat inspections are at 11 million tons, down from 13.2 million last year.-NAFB

Soybeans and Wheat Export Inspections Decline

The USDA says most farm loan borrowers will be able to make loan payments online through the Pay My Loan feature on farmers.gov in early February.

Pay My Loan is part of a broader effort by the Farm Service Agency to streamline its processes, especially for producers who may have limited time during the planting or harvest seasons to visit a local FSA office.

“Farmers and ranchers have responded to some difficult challenges over the last few years, and their time is a precious commodity,” says USDA Deputy Undersecretary Xochitl Torres Small. “Having the option to conduct business online is essential, and the Pay My Loan feature allows customers to take care of business seamlessly.”

On average, local USDA centers process more than 225,000 farm loan payments each year. Pay My Loan gives most borrowers an online repayment option and relieves them from traveling to a local Service Center.

The USDA says most farm loan borrowers will be able to make loan payments online through the Pay My Loan feature on farmers.gov in early February.Pay My Loan is part of a broader effort by the Farm Service Agency to streamline its processes, especially for producers who may have limited time during the planting or harvest seasons to visit a local FSA office.“Farmers and ranchers have responded to some difficult challenges over the last few years, and their time is a precious commodity,” says USDA Deputy Undersecretary Xochitl Torres Small. “Having the option to conduct business online is essential, and the Pay My Loan feature allows customers to take care of business seamlessly.”On average, local USDA centers process more than 225,000 farm loan payments each year. Pay My Loan gives most borrowers an online repayment option and relieves them from traveling to a local Service Center.-NAFB

Producers Can Make USDA Loan Payments Online

Growth Energy released data showing American drivers recently surpassed the massive milestone of 100 billion miles driven on affordable, homegrown E15 fuel. The 15 percent biofuel blend saves drivers an average of 15 cents a gallon at the pump. In some states, amid higher fuel costs last summer, drivers saw E15 savings climb as high as 60 cents per gallon.

“At Growth Energy, we’re proud to lead the charge on American-made, plant-based fuels,” says CEO Emily Skor. “Homegrown biofuels deliver value for consumers at the pump, value for American agriculture and rural communities, and value for our nation’s climate goals.”

She also says they’re proud of the 100 billion miles driven on E15 and excited that consumers have access to an affordable, Earth-friendly option to fuel their travels. “There aren’t many products on the market today that allow consumers to save money and lower carbon emissions like E15,” Skor adds.

Growth Energy released data showing American drivers recently surpassed the massive milestone of 100 billion miles driven on affordable, homegrown E15 fuel. The 15 percent biofuel blend saves drivers an average of 15 cents a gallon at the pump. In some states, amid higher fuel costs last summer, drivers saw E15 savings climb as high as 60 cents per gallon.“At Growth Energy, we’re proud to lead the charge on American-made, plant-based fuels,” says CEO Emily Skor. “Homegrown biofuels deliver value for consumers at the pump, value for American agriculture and rural communities, and value for our nation’s climate goals.”She also says they’re proud of the 100 billion miles driven on E15 and excited that consumers have access to an affordable, Earth-friendly option to fuel their travels. “There aren’t many products on the market today that allow consumers to save money and lower carbon emissions like E15,” Skor adds.-NAFB