The National Cattleman’s Beef Association Convention and Trade Show wrapped up January 29 in San Diego, California, offering all those in the beef and cattle industry the opportunity to come together and tackle the topics and issues that affect the industry. Amongst the fun and entertainment— the Red, White and Brew Afterparty, a concert by Martina McBride, an event on the USS Midway and more— the event found attendees getting down to business.
To open the second General Session, keynote speaker Robert O’Neill spoke on finding inspiration and the use of strategic planning. The event also featured educational events, such as the presentation on the benefits of direct-fed microbial use in livestock production during a Learning Lounge and the “Creating the Future” presentation for young producers during the early-morning Cattlemen’s College breakout sessions.
AgAmerica Lending President and CEO Brian Philpot gave a presentation titled “Refinancing in a Changing Market.” The slide below was part of his presentation to illustrate the need for agricultural lenders who understand the fickle nature of ag markets. As the graph shows, net farm income had increased overall since 1960, but it has fallen 44 percent of the 55 years spanning from 1960 until now. It drives home the point that, unlike other ag lenders, AgAmerica Lending won’t penalize its ag borrowers for less-than-desirable market conditions.
Overall, it was a rewarding event. “Attending the 2016 NCBA Trade Show on behalf of AgAmerica was a great experience,” said Cameron Flowers, AgAmerica Lending’s Correspondent Lender. “We had lots to talk about; Cattle ranchers from across the US were eager to discuss the financial challenges and opportunities that face the cattle industry this year.”
In industry news, the Cattle Industry seems to be continuing its upward trend; the January 1st, 2016 Cattle Inventory Report showed that total cattle inventory counted 92 million head, an increase of 3 percent over a year ago. Additionally, beef cattle increased by 4 percent over a year ago for a total of 30.3 million head. See the USDA’s January 2016 Cattle Inventory Report here. With increases seen in all areas of the cattle industry, it’s safe to say that cattle and beef herds experienced aggressive expansion in 2015. With the easing of drought issues in the West and a relatively mild winter thus far, here’s to hoping 2016 will be a good year for beef producers.
AgAmerica Lending stands beside our country’s beef and cattle producers through thick and thin, offering lending expertise and advice for cattle farm loans. As the ag land loan specialists, we help farmers and ranchers to grow and prosper with our low interest rates, long amortizations, and an outstanding 10-year line of credit.