Ranch it Up Radio Show Weekly Recap Ep. 93

[00:00:00] Speaker A: Your Ranch it Up Heard it here. Weekly recap is up right after this. [00:00:03] Speaker B: Are you looking for true price discovery for your feeder cattle? Look no further than Superior Livestock Auction. Any questions, reach out to your Superior Livestock Auction rep or call Superior Livestock customer service at 800-422-2117. View the sale live on Dish Network channel 997 and online at sla-tv.com sale results DE and upcoming sale information available at superiorlivestock.com and ranch channel.com selling cattle. [00:00:39] Speaker C: The superior way ranch channel.com bull sales Western events Product information right at your fingertips on the ultimate cowboy friendly platform. Want to follow up to date markets ranch channel.com no need to dig for information on all these different websites. It's all right there on ranch channel.com the best way to raise beef on. [00:00:57] Speaker A: Pasture, on crop residue or in a dry lot. [00:01:00] Speaker C: It's Westway Feed Products Westway Liquid Supplements Support increase increased forage utilization, efficiency, convenience and sustainability. Find your nearest rep by calling 800-875-17 or head to westwayfeed.com on Facebook, Instagram, LinkedIn and TikTok. [00:01:15] Speaker A: Way up cow prices have increased dramatically over the last two years and are now currently at prices that are close to double the average price of what they were just three years ago in 2022. To put this into perspective, the average annual weigh up cow prices per hundredweight were 60.05 in 2020 than they were $65.40 in 2021 and $76.12 in 2022 as reported by USDA Market News at the Joplin Regional Stockyards in Missouri. Now for folks who are marketing home raised cows that are more than two years of age, make sure that the income from these cows is identified as capital gains income when it is being reported for tax purposes. This is especially important this year because many of us cow calf producers will have an excellent income from the sale of weaned calves and yearlings. Capital gains income is not subject to self employment tax and the federal capital gains tax will be lower than the ordinary income tax for the same level of earnings. Make sure that you consult though with your tax professional on all income tax law and liabilities. The deadly parasitic New World Screwworm has been spotted less than 400 miles from the southwest border and is threatening Texas cattle, according to lawmakers. Last week 175 groups sent a letter to Secretary of Agriculture Brooke rollins in the U.S. house and Senate in support of building a sterile fly facility in the US among the national groups that signed the letter were the American Farm Bureau, Livestock Marketing association, the National Cattleman's Beef association and the National Milk Producers Association. And that is your ranch. It up Heard it here weekly recap. Have a great weekend.