💵 New Year, Better Records & Cattle Prices

Tax Time Tidbits, Beef's Big Role and The Good News from Ranching.com by CattleMax

January 02, 2025

Ranching.com is your weekly dose of trending news, seasonal tips, and community content put together by our team of ranchers.

NEWS

💵 New Year, Better Records & Cattle Prices

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💵 New Year, Better Records - Start 2025 with better records for improved decisions. To ensure successful record-keeping in the new year, embrace digital tools, use technology for data collection, ensure team collaboration, prioritize mobility, seek software support, and set clear goals.

📉 Ag Outlook - Some agriculture faced economic downturns in 2024, with many economists predicting a recession. Issues like H5N1, trade tensions, and policy uncertainty dominated discussions. Economists are also watching tariffs, land use, and regional disparities as key factors for 2025.

📈 A Record Year - Feeder auction prices in 2024 set new records, with 500-pound steers averaging $320.14/cwt, up 18.6% from 2023, and 800-pound steers averaging $247.43/cwt, up 14.7%. Fed cattle prices also saw significant increases, up 6% from 2023.

🧸 The Good News - Reed Marcum, a 19-year-old 4-H Ambassador from Oklahoma, started the J Michael Miller Toy Drive at age 11. The annual event, now giving out 13,000 toys, has grown significantly, supporting thousands of families and inspiring community generosity.

🧾 Tax Time Tidbits - With 30 tax provisions set to expire by 2025, family farms face potential tax hikes. These changes could increase liabilities by nearly $9 billion, impacting farms of all sizes, especially moderate-income ones, and may affect deductions and credits crucial for farmers.

󠁵󠁳󠁮󠁤󠁿🥩 Beef’s Big Role- Recent studies published in Nutrients show beef helps close nutrient gaps for adolescents, pregnant women, and aging adults. Beef consumption boosts intake of essential nutrients like protein, iron, and B vitamins, improving nutrient adequacy in these populations.

RANCHING KNOW-HOW

Impacts of Moldy Hay and Baleage

Hay is vital for livestock in the southern USA, but mold is a common issue, especially when hay is baled wet or stored improperly. Mold can harm livestock, causing health problems, and testing for mycotoxins is essential for safe feeding.

Nutritional Requirements of Cattle in Winter

Winter feeding is crucial for cattle health, productivity, and reproduction, especially when forage quality declines. Protein supplementation is essential to meet nutritional demands, supporting digestion, energy, and overall herd performance during colder months and pregnancy.

CATTLE COMMUNITY
QUOTE OF THE WEEK
❝

“The secret of getting ahead is getting started.”

Mark Twain

READER POLL

In regards to the cattle business, which word most closely describes your 2024? (Please explain below.)

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LAST WEEK’S RESULTS

What’s your current position in regards to hay?

40.5%: We bale our own and/or sell to others.

26.4%: We are using our own and supplementing with purchased hay.

28.9%: We buy all of the hay we feed.

4.1%: Other (please explain below)

THOUGHTS FROM VOTERS
Bale

  • “We only sell hay that is excess to our needs. Our focus is on raising quality cattle We may sell leftover hay in spring but do not want to get into purchasing hay. ”

Bale and Buy

  • “Fortunately, the amount we may need to purchase is minimal due to extensive fescue stockpiling and rotational grazing.”

Buy

  • “We custom graze cattle and use those revenues to buy our feed, while we have had to have a reduced herd of our own the positive side is there is no need for any equipment which has reduced our costs and stress significantly over the long term.”