Season 2 Episode 93
It’s the Ranch It Up Radio Show Herd It Here Weekly Report! A 3-minute look at cattle markets, reports, news info, or anything that has to do with those of us who live at the end of dirt roads. Join Jeff 'Tigger' Erhardt, the Boss Lady Rebecca Wanner aka 'BEC' by subscribing on your favorite podcasting app or on the Ranch It Up Radio Show YouTube Channel.
EPISODE 93 DETAILS
Cow Prices Double & Screwworm Threatens Texas Weigh Up Cow Prices Are UpWeigh-up cow prices have increased dramatically over the last two years and are now currently at prices that are close to double the average price of what they were just 3 years ago in 2022. To put this in perspective, the average annual weigh-up cow prices per CWT were $60.05 in 2020, $65.40 in 2021 and $76.12 in 2022, as reported by USDA Market News at the Joplin Regional Stockyards in Missouri.
For folks who are marketing home raised cows that are more than two years of age, make sure that the income from these cows is identified as capital gains income when it is being reported for tax purposes. This is especially important this year because many cow-calf producers will also have excellent income from the sale of weaned calves and yearlings. Capital gains income is not subject to self-employment tax, and the federal capital gains tax rate will be lower than the ordinary income tax rate for the same level of earnings. Make sure you consult with your tax professional on all income tax law and liabilities.
REFERENCE: https://www.nationalbeefwire.com/weigh-up-cow-prices-are-up-way-up Screwworm Closer To U.S. Border Threatening Texas Cattle IndustryThe deadly parasitic New World screwworm has been spotted less than 400 miles from the Southwest border and is threatening Texas cattle, lawmakers say. The screwworm was first reported in Mexico in November and has steadily made its way north since then. The most northern recent reported case was in the state of Veracruz, Mexico, which is about 370 miles south of McAllen, Texas, according to the U.S. Department of Agriculture.
U.S. Sen. John Cornyn, R-Texas, says the screwworm flies could devastate the state’s cattle industry if it crosses onto U.S. soil. Cornyn says an outbreak could cost Texas livestock producers approximately $1 billion and cost the general economy $3.7 billion.
Last week, 175 groups sent a letter to Secretary of Agriculture Brooke Rollins and the U.S. House and Senate in support of building a sterile fly facility in the U.S. Among the national groups that signed the letter were the American Farm Bureau, Livestock Marketing Association, National Beef Cattlemen’s Association and the National Milk Producers Association.
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Upcoming Bull & Heifer Sales On RanchChannel.ComLot’s of bull and heifer sales coming up on the RanchChannel.Com sale calendar. Check out the full line up HERE.
SPONSORSAmerican Gelbvieh Association
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