E173 Recap of the Top News Stories for the Week Ending February 16th 2025

1. Tragic Tire Explosion at W Hesketh and Sons Dairy Farm • Young father Joshua Hardman (23) killed in tire explosion incident • Farm fined £80,000 for safety violations • Key safety tips for tire inflation on farms 2. Steel Tariffs Impact on Dairy Equipment Costs • 25% steel tariffs driving up to 15% increase in dairy equipment costs • Potential cost increases by farm size: • Small farms (50-200 cows): $150,000 - $300,000 • Medium farms (201-1000 cows): $300,000 - $750,000 • Large farms (1000+ cows): $750,000+ • USDA’s $500 million emergency equipment purchase program mentioned 3. Trump’s Criticism of Canada’s Dairy Policy • Overview of Canada’s dairy supply management system • Ongoing debate leading up to 2026 CUSMA review • Potential impact on U.S.-Canada trade relations 4. Proposed $230 Billion Agriculture Budget Cuts • Potential cuts to SNAP (Supplemental Nutrition Assistance Program) • Impact on dairy demand: $1 change in SNAP benefits = $0.66 shift in grocery sales • Concerns about SNAP Healthy Fluid Milk Incentive program 5. CRV’s 2023-24 Financial Report • Net turnover: €185.4 million • Operating loss: €4.2 million • Net loss after tax: €4.1 million • New breeding value for methane introduced • Increased supply of homozygous hornless bulls • Continued development of FeedExcel breeding strategy