Over the last 10 days, the Agriculture Department's Agricultural Marketing Service has been making pre-solicitation announcements for trade mitigation purchases. So far, AMS has made announcements for the following products: frozen corn, dry peas, rice, dairy, peanuts, potatoes, dry lentils, canned dark red kidney beans, dry navy beans, beef, pork, walnuts, strawberries, plums (dried and fresh), pistachios, pecans, fresh pears, fresh organs, orange juice, fresh lemons, hazelnuts, grapefruit, grapes (dried and fresh), figs, cranberries, apples and frozen blueberries. Announcements began on Sept. 4 and will continue. Solicitation specifications, the solicitation period and delivery timeframe are different for each product and available in the individual announcements, which can be viewed here.
 
Market Intel update

Net farm income is a comprehensive indicator of U.S. farm profitability - for all crops and livestock - and includes cash receipts from farming as well as farm-related income, including government payments and noncash items like changes in inventories, economic depreciation and gross imputed rental income, minus cash expenses. The Agriculture Department's August 2018 Farm Income Forecast provided the first state-level estimates of net farm income in 2017.
 
During 2017, U.S. net farm income was projected at $75.5 billion, up 22 percent from 2016 but well below the record-high experienced in 2013. At the state level, net farm income was the highest in California at $17.7 billion, up 23 percent from prior-year levels. Following California was Texas at $4.5 billion, up 6 percent, and Iowa at $3.4 billion, up 4 percent. The top 10 states in terms of net farm income represented $43.8 billion, or 58 percent, of total U.S. farm income.
 
Market Intel update

The House Ways and Means Committee recently approved a bill supported by AFBF that would make tax reforms permanent for farmers and ranchers. The Protecting Family and Small Business Tax Cuts Act of 2018 would remove the temporary status of tax cuts passed by Congress last year. Pat Wolff, senior director of congressional relations for AFBF, explained in a recent Newsline that the bill would make the tax cuts fair.

"For businesses that are incorporated, the tax cuts are permanent," Wolff said. "But for other businesses, small business, farms who file as individuals, the tax cuts are temporary. So, what the Ways and Means Committee did last week was take the first step in making the important tax cuts for farm and ranch businesses permanent."

The next step is for the full House of Representatives to pass the bill. Right now, it's uncertain as to whether or not they will or can do that. That's why it's important for farmers and ranchers everywhere to tell their elected officials to make lower taxes permanent for farmers and small business, Wolff said.

Activists have grown rich by suing the government and reaping billions of taxpayers' dollars - and all in secret. The U.S. Department of Interior, however, has issued an order to curb this abuse of basic, democratic processes and to open backroom deals to public scrutiny. AFBF applauds this overdue action.

Interior alone paid out more than $4.4 billion in monetary awards under terms of 460 settlement agreements and consent decrees between Jan. 1, 2012, and Jan. 19, 2017. In other words, Interior paid out an average of more than $800 million a year while keeping key aspects of litigation secret.

It's easy to see why so many outside observers fear an unaccountable bureaucracy cutting deals with activists. "The Department of Interior is shining light on a corner of government most people don't even know exists," AFBF General Counsel Ellen Steen said. "Basic transparency demands that citizens know what their government is doing. When activists sue, they can tie up the government with dozens of frivolous claims but still recover attorneys' fees if a judge upholds even one, solitary claim.

On Tuesday, November 13, the Pike-Scott Farm Bureau is partnering with CliftonLarsonAllen and the Adams and Cass-Morgan Farm Bureaus to present a program on estate planning, succession planning, and the impacts of the recent tax reform. The program will be held at the Pike-Scott Farm Bureau building in Pittsfield. Supper begins at 6:00 pm and the program will conclude by 8:30 pm.

Proper planning is key to the success of any endeavor; however, planning can be an overwhelming task. This important session presented by CliftonLarsonAllen will help Farm Bureau members address challenging planning topics such as tax reform, succession, and estate planning.

Through this program you will learn to understand options available to effectively transfer a farm operation to the next generation or other successor. You will also learn to evaluate tax planning opportunities based on the current tax code and its anticipated impact on your return.

CliftonLarsonAllen has extensive experience working with agricultural clients and will supply important information to Farm Bureau members at the November 13 session. These topics will be covered by Vanessa Bechtel and Kelly Hardy from CliftonLarsonAllen.