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The Midwest Cattleman · August 25, 2022 · P3

                    August 25, 2022   Volume 28   No. 7

                         COMING NEXT YEAR                                       COSTS, WITH FEED PRICES UP 16 PERCENT
                   By Tim McDermott DVM, OSU Extension Educator               Annual U.S. retail prices for  (SAFP) for corn—the primary
         There are some changes  are implemented in 2023.                   beef and veal are projected to  grain fed to cattle—is current-
      coming to the availability of         What is being implement-        rise 6 to 7 percent in 2022 rel- ly projected at $5.95 per bush-
      over-the-counter antibiotics  ed is the Food and Drug Ad-             ative to 2021.                    el, the highest SAFP since the
      that the livestock producer  ministration’s guidance for                In May 2022, the farmer’s  2012/13 marketing year.
      will want to familiarize them- industry (GFI) No. 263 titled          share of the retail value of         Like corn, the SAFPs for
      selves with soon in order to  “Recommendations for spon-              beef  also  increased  year  over  other feed grains including
      make sure they are properly  sors of medically important              year, but rising input costs,  sorghum, oats, and barley
      prepared before the changes  antimicrobial drugs approved             especially for cattle feed, may  are projected to increase in
                                         for use in animals to volun-       limit farmers’ ability to bene- 2021/22 relative to 2020/21.
                                         tarily bring under veterinary      fit from higher cattle prices.       The  SAFP  for  hay,  an  im-
                                         oversight all products that          Based on the USDA, Eco- portant supplement to cattle
                                         continue to be available as        nomic Research Service (ERS)  grazing, is estimated to be
                                         over-the-counter.”                 commodity cost and return es- 16 percent higher in 2021/22
                                            The reason for this change      timates, feed expenses are the  compared to the average price
                                         is to make sure that there is      largest operating cost for cow- over the preceding 9 years.
                                         veterinary oversight of med-       calf producers, comprising 75        As of August 9, 2022, it was
                                                                            percent of these costs in 2021.  estimated that 46 percent of
                                                      continued on page 10
                                                                              Prices for beef cattle  feed  hay is growing in areas expe-
                                                                            were  up 16 percent  in May  riencing drought. In addition
          U.S. AGRICULTURAL LAND VALUES SHOW                                2022 relative to May 2021.        to rising feed costs, elevat-
                          RECORD INCREASE                                     High fertilizer prices have  ed diesel fuel and farm labor

         The  Land Values                                                   contributed to increased feed  costs have also put pressure
                                                                            costs while drought conditions  on farmer margins.
      2022 Summary re-                                                      have squeezed feed grain and
      port, released Aug. 5                                                 hay supplies.  The 2021/22        USDA
      by USDA’s National                                                    season-average  farm  price
      Agricultural Statis-
      tics Service (NASS),
      shows      agricultur-
      al land values in-
      creased by $420 an
      acre over 2021, the  Pastureland values posted strong gains from the previous
      largest    numerical    year, coming in at $1,650 per acre on average for the U.S.
      increase since the                 one of many indicators of the
      survey first began in 1997 and     overall health of the agricul-
      the largest percent increase       tural economy and illustrates
      (12%) since 2006.                  yet another heightened pro-
         This annual report provides                  continued on page 14

                                 By Paige Carlson
         Dry Conditions. Unabated  the future to be seen in the
      cow slaughter. Record Pric- cattle markets and industry.
      es. This list of known factors        Scott Brown, University
      weighs  on the  unknowns of  of Missouri associate exten-
                                         sion professor in agricultur-
                                         al and applied economics,
                                         joined  “AgriTalk”  to  discuss                                    Coming Sales-30
                                         some of the looming cattle in-                                     Life is Simple-5
                                         dustry factors and how they                                        Market Report-8
                                         might play out in the coming
                                         months.                                                            Agribusiness
                                         Drought                                                            Directory-28
                                            Dry conditions have been a

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