Current Cattle Market Daily Headlines for February 10, 2021

by | Feb 10, 2021 | 0 comments

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FarmlandFinder announces an online farm sale-leaseback program

https://www.farmlandfinder.com/sale-leaseback

  • FarmlandFinder has released a sale-leaseback program as part of its online marketplace for farmland.
    • A farm sale-leaseback is when an investor acquires the land from the farm owner-operator and then leases it back to them on a long-term basis.
      • The program offers value to farmers seeking an alternative financing solution.
    • According to Steven Brockshus, Founder and CEO of FarmlandFinder, farmers are looking for ways to unlock equity that’s tied up in their land without giving up control of their property or taking on additional debt.
      • Through the company’s private investment platform, farmers can apply for a sale-leaseback and if they qualify, an investor will partner with them to help unlock equity.
    • According to FarmlandFinder, this program provides value to farmers who are looking for an alternative financing solution.
      • A sale-leaseback provides liquidity to the farmer while also helping them maintain on-going operational control of the land.
    • Sale-leasebacks are used in various situations; one of them being when hard times come around and a farmer needs to free up some cash to keep the operation going. This is obviously a less than ideal situation, but FarmlandFinder still believes it’s a viable option.

 

R-CALF files opening brief in RFID case

https://www.nationalbeefwire.com/r-calf-files-opening-brief-in-rfid-case

  • On Tuesday, Harriet Hageman, Senior Litigation Counsel for the New Civil Liberties Alliance, filed an opening brief in the Wyoming federal district court related to R-CALF USA’s Federal Advisory Committee Act (FACA) lawsuit against the USDA.
    • Along with R-CALF, Wyoming ranchers Tracy and Donna Hunt and South Dakota ranchers Kenny and Roxy Fox are listed as plaintiffs in the case.
  • In April 2019, the USDA’s veterinary sub agency, the Animal and Plant Health Inspection Service (APHIS), published a mandate calling for all U.S. cattle producers to use radio frequency identification (RFID) ear tags on all adult cattle moved interstate by January 2023.
    • Additionally, the mandate would require cattle producers to register their operations with the government.
  • Once the mandate was released, R-CALF USA and other rancher-plaintiffs sued on the grounds that the mandate was unlawful and it challenged existing law that allows cattle producers to choose other options when moving cattle interstate, such as metal ear tags that comes with a much lower price tag.
    • The case also alleged that APHIS violated the Federal Advisory Committee Act (FACA), which requires federal agencies to follow certain protocols when establishing and utilizing advisory committees to safeguard both government transparency and a balanced perspective among advisory committee members.
      • Weeks after the lawsuit was filed, APHIS withdrew its mandate.
    • The latest brief maintains that the defendants, USDA and APHIS, have never claimed to have followed lawful protocols and achieved balance on the advisory committees.
      • Instead, the brief argues that the defendants did not utilize either the Cattle Traceability Working Group, formed in late 2017, or the Producers Traceability Council, formed in early 2019.
    • R-CALF USA and the rancher plaintiffs are seeking an injunction from the court barring APHIS from using the advice and work products it received from the advisory committees as the agency forges ahead to deny cattle producers the choice to use other low-cost technologies as sanctioned by current law.

 

Fed-cattle prices lowered; average corn prices raised

https://www.cattlerange.com/comprehensive-cattle-market-reports-analysis/cattle-industry-news/usda-world-agricultural-supply-demand-estimates/

  • The 2021 forecast for total red meat and poultry production are raised from last month on a higher forecast of beef, pork and broiler production.
  • Beef production is raised from last month mainly because of higher cattle slaughter and heavier than expected early-year cattle weights.
  • The beef export forecast for 2021 is raised on strong demand for U.S. beef in numerous markets.
  • Fed-cattle prices have been lowered for the second half of 2021 due to increased production.

 

Boxed beef prices

www.nationalbeefwire.com

  • Choice boxed beef: $234.29 (-1.91)
  • Select boxed beef: $220.73 (+0.12)

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