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Business Briefs - Feb. 25, 2009

Scholarship targets emphasis in beef production
PHOENIX, Ariz. — For a second year, the National Cattlemen’s Foundation (NCF) and Fort Dodge Animal Health are accepting applications for the Fort Dodge Animal Health Legacy Scholarship.
Through producer participation, Fort Dodge Animal Health sponsors five scholarships of $5,000 each.

Three will be directed to veterinary school students who have designated an emphasis in beef production. Two will be directed to undergraduate students enrolled in an animal science program.
The NCF also announces the 2009 scholarship honoring the late W.D. Farr, of Greeley, Colo. Two annual $12,000 graduate scholarships bearing his name will be awarded to outstanding graduate students who demonstrate a commitment to a career in the beef industry through classes, internships or life experience.
The NCF is accepting applications until April 15. Applications are available online; winners will be announced at the Cattle Industry Summer Conference in Denver, July 14-18. For more information, visit www.nationalcattlemensfoundation.org

‘Cattlemen to Cattlemen’ expands to 1 hour March 3

DENVER, Colo. — NCBA’s “Cattlemen to Cattlemen,” the award winning RFD-TV cable show that brings cattle industry news, information and education to producers across the country each week, will expand to one hour on March 3.

The program, which now runs one-half hour, premieres Tuesdays at 8:30 EST and is repeated Wednesdays at 10:30 a.m. and Saturdays at 9 a.m. The hour-long program will come with a new host, Kevin Ochsner, a cattleman who took the helm in January.
Ochsner works as an agribusiness consultant and with his family also runs Limousin and Lim-Flex cattle on a ranch in northeastern Colorado.

CoBank directors extending voting rights in bylaws
DENVER, Colo. — CoBank announced its board of directors has approved amendments to the capital section of the bank bylaws, including a proposal to offer voting rights to rural utilities and other customers that are not organized as cooperatives.

The amendment to the capital bylaws must be approved by current voting shareholders and a vote is expected to take place during the first quarter of 2009. The change, if approved, would expand CoBank’s pool of voting shareholders by approximately 30 percent.

Strong performance continues at CLAAS Group in Nebraska

OMAHA, Neb. — With sales exceeding $3.2 billion and pre-tax earnings totaling $248 million, the CLAAS Group presented its best results to date in fiscal year 2007-08. Sales grew by a total of 21.7 percent. For the agricultural engineering market alone, the figure was 22.8 percent. This documents the strong growth in sales in CLAAS’ core business, agricultural technology, where the company specializes in combine harvesters, foragers, tractors and green harvest machinery.

At 77.6 percent, the ratio of export sales to total sales was higher than the previous year’s 76.3. The agricultural engineering markets picked up in Western and Central Europe, and the Eastern agricultural engineering market, including Russia, recorded significant growth.

Business in North America exhibited positive signs as well, supported by a good harvest and strong demand for bioethanol. In the South American market, the recovery phase that started in 2007 continued. The Indian market was stable.

Expenditure on research and development rose by $4.2 million in fiscal year 2008 to a total of $113.8 million. The volume of capital expenditure was significantly higher than in the previous year as well. At $122.3 million, total capital expenditure in fiscal 2008 was 8.3 percent higher than in 2007.

2/25/2009