Top Headlines: Trump For Agriculture, Register Your Business Deadline & Cattle Industry News

We find out what The Trump Administration could have in store for agriculture.  Plus producers need to register your business now, USDA Leadership named, retail meat sales, market recaps, cattle for sale and lots more on this all new episode of the Ranch It Up Radio Show. Be sure to subscribe on your favorite podcasting app or on the Ranch It Up Radio Show YouTube Channel. Top Headlines: Trump For Agriculture, Register Your Business Deadline & Cattle Industry News Why Trump Supports Agriculture Agriculture: President Trump Views Importance What could the new Trump Administration do for agriculture?  Justin Tupper, President of the U.S. Cattlemen's Association and owner/manager of St. Onge Livestock in St. Onge, South Dakota shares his thoughts. Why Your Business Must File With Government Deadline: Farmers & Ranchers Must File BOI Report Avoid Fines & Jail Time Attention farmers, ranchers, agricultural and/or small businesses: A critical deadline is approaching. By January 1, 2025, thousands of farms must file Beneficial Ownership Information (BOI) with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) or face severe consequences, including hefty fines and possible jail time. Who Needs to File? Under the Corporate Transparency Act of 2021, businesses must register any “beneficial owner” to help combat money laundering. This law applies to farms structured as: C-corporations S-corporations Limited Liability Companies (LLCs) Specifically, farms with fewer than 20 employees or generating less than $5 million in cash receipts must comply. This requirement impacts the majority of farms, with one report estimating over 230,000 farms are affected. However, government data reveals less than 11% of eligible businesses have filed so far. The Consequences of Non-Compliance Failing to file BOI or neglecting to update records can lead to: Criminal fines up to $10,000 Civil penalties of up to $591 per day Potential felony charges with prison sentences of up to two years The financial and legal risks make it essential for farmers to act promptly. What Should Farmers Do? Farmers uncertain about their filing obligations should immediately consult with a qualified accountant or attorney. These professionals can assess your business structure and ensure compliance with BOI requirements. Don’t Wait Until It’s Too Late The clock is ticking. Protect your farm, avoid penalties, and stay compliant. Take action now to file your BOI by the January 1, 2025, deadline.   Click HERE for Additional Information Top Cattle Industry News Brooke Rollins Tapped To Lead USDA Under President-Elect Trump President-elect Donald Trump has chosen Brooke Rollins, former White House domestic policy adviser and current CEO of the America First Policy Institute, to lead the U.S. Department of Agriculture (USDA). Rollins, a Texas native with strong ties to agriculture and conservative advocacy, previously led the Texas Public Policy Foundation, championing causes like school choice and fossil fuels. If confirmed, she will become the second woman to head the USDA, following Ann Veneman under President George W. Bush. With a $200 billion budget and nearly 100,000 employees, the USDA oversees programs like SNAP, WIC, and school meals. Rollins may also tackle the reauthorization of the massive farm bill, which funds farmer safety nets, rural development, and nutrition programs. Her leadership could drive Trump’s agenda to streamline federal bureaucracy, enforce tariffs, and shape U.S. agricultural policy amid challenges like trade disputes and global competition. October Proves A Monster Month For Retail Meat Sales The average price per pound in the meat department across all cuts and kinds, both fixed and random weight, stood at $4.67 in October 2024, up 1.9% year-on-year. Processed meat prices rose the least in October, at a mere +0.1%. October brought a mix of price movements. Beef and hot dogs increased further, but it was fresh exotic (which includes bison) that had the highest price increase in October, at +6.8% over last year’s October. Several proteins experienced price decreases, including lamb, bacon and processed chicken. Meat department sales were on a roll in October, with fresh meat sales driving 8.0% gains to lead the department to an overall 5.4% increase over October 2023. The five October weeks generated $10.0 billion, with $7.1 billion for fresh meat. While inflation played a role, pound sales increased by 3.4%, also driven by strong gains in fresh meat.   USDA WASDE Report Highlights 2024 Beef Market Trends The USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) report offers insights into the evolving beef market, signaling continued growth and strong demand. Beef Production Outlook: Higher dressed weights, increased cow slaughter, and unexpected cattle placements in late 2024 have raised beef production projections. These factors, according to the report, "more than offset lower expected steer and heifer slaughter." Cattle Prices Rising: WASDE projects 2024 average cattle prices to reach $186.68/cwt, reflecting strong demand and recent market trends. Prices are expected to remain above $186/cwt through the third quarter of 2025, a notable increase from 2023's average of $175.54. Beef Imports Surge: With strong domestic demand and ongoing cattle herd liquidation, U.S. beef imports are projected to stay robust. After reaching 3.725 billion pounds in 2023, imports are estimated to climb to 4.508 billion pounds in 2024. Shipments from Oceania and South America have exceeded expectations. These trends emphasize the strength of the beef industry despite challenges like herd contraction, showcasing opportunities for producers and exporters alike. RanchChannel.Com Now Has The Futures Markets Futures Markets RanchChannel.com now has futures markets at your fingertips!  Feeder Cattle, Live Cattle, Corn, Wheat, Soybeans, Soybean Oil, Milk Class IV, and Ethanol.  Information is provided by DTN and market information may be delayed by as much as 10 minutes.  Click Here for more information! UPCOMING SALES & EVENTS Clear Springs Cattle Company: November, 20, 2024, Starbuck, MN World Famous Miles City Bucking Horse Sale: May 15 18, 2025 BULL SALE REPORT & RESULTS Churchill Cattle Company Van Newkirk Herefords Gardiner Angus Ranch Cow Camp Ranch Jungels Shorthorn Farms Ellingson Angus Edgar Brothers Angus Schaff Angus Valley Prairie Hills Gelbvieh Clear Springs Cattle Company CK Cattle Mrnak Hereford Ranch Frey Angus Ranch Hoffmann Angus Farms Topp Herefords River Creek Farms Upstream Ranch Gustin’s Diamond D Gelbvieh Schiefelbein Farms Wasem Red Angus Raven Angus Krebs Ranch Yon Family Farms Chestnut Angus Eichacker Simmentals & JK Angus Windy Creek Cattle Company Pedersen Broken Heart Ranch Mar Mac Farms Warner Beef Genetics Arda Farms & Freeway Angus Leland Red Angus & Koester Red Angus Fast Dohrmann Strommen RBM Livestock Weber Land & Cattle Sundsbak Farms Hidden Angus Wheatland Cattle Company Miller Angus Farms L 83 Ranch U2 Ranch Vollmer Angus Ranch A & B Cattle Carter Angus Farms Roller Ranch Montgomery Ranch Jorgensen Farms DLCC Ranch Four Hill Farm North Country Angus Alliance Spruce Hill Ranch Wilson Angus Jorgensen Land & Cattle Motherlode Sale ISA Beefmasters JYJ Red Angus Jorgensen Land & Cattle, Legends Of The Fall Bull Sale   FEATURING Justin Tupper President, US Cattlemen’s Association https://uscattlemen.org/ @uscattlemens Kirk Donsbach: Stone X Financial https://www.stonex.com/   @StoneXGroupInc    Mark Vanzee Livestock Market, Equine Market, Auction Time https://www.auctiontime.com/ https://www.livestockmarket.com/ https://www.equinemarket.com/ @LivestockMkt @EquineMkt @AuctionTime Shaye Koester Casual Cattle Conversation https://www.casualcattleconversations.com/ @cattleconvos   Questions & Concerns From The Field? Call or Text your questions, or comments to 707-RANCH20 or 707-726-2420 Or email [email protected] FOLLOW Facebook/Instagram: @RanchItUpShow SUBSCRIBE to the Ranch It Up YouTube Channel: @ranchitup Website: RanchItUpShow.com https://ranchitupshow.com/ The Ranch It Up Podcast is available on ALL podcasting apps. https://ranchitup.podbean.com/   Rural America is center-stage on this outfit. AND how is that? Tigger & BEC Live This Western American Lifestyle. Tigger & BEC represent the Working Ranch world and cattle industry by providing the cowboys, cowgirls, beef cattle producers & successful farmers the knowledge and education needed to bring high-quality beef & meat to your table for dinner. Learn more about Jeff 'Tigger' Erhardt & Rebecca Wanner aka BEC here: TiggerandBEC.com https://tiggerandbec.com/ #RanchItUp #StayRanchy #TiggerApproved #tiggerandbec #rodeo #ranching #farming References https://www.stonex.com/ https://www.livestockmarket.com/ https://www.equinemarket.com/ https://www.auctiontime.com/ https://gelbvieh.org/ https://www.imogeneingredients.com/ https://alliedgeneticresources.com/ https://westwayfeed.com/ https://medoraboot.com/ http://www.gostockmens.com/ https://www.imiglobal.com/beef https://www.tsln.com/ https://transova.com/ https://axiota.com/ https://axiota.com/multimin-90-product-label/ https://jorgensenfarms.com/ https://www.bredforbalance.com/ https://ranchchannel.com/ https://www.wrangler.com/ https://www.ruralradio147.com/ https://www.rfdtv.com/ https://thehappytoymaker.com/ https://www.meatingplace.com/Industry/News/Details/116935 https://www.kxnet.com/news/top-stories/farmers-face-fines-jail-if-they-dont-register-under-this-federal-program-by-jan-1-2025/ https://www.meatingplace.com/Industry/News/Details/116872 https://www.meatingplace.com/Industry/News/Details/116747