The Kiplinger Agriculture Letter – For ranchers and other livestock owners…including feedlot operators and poultry producers… Profits promise to be widespread this year. Supplies are tight: Herds and flocks… except for chickens raised for meat…will be flat or smaller on the heels of droughts that baked fields and pastures in many regions, driving up feed costs. Copyright 2104. The Washington Kiplinger Editors, Inc. Login to Member Resources to download this edition.
Land Pro Sees Stabilizing Values
LandOwner – After a rather turbulent nine months, we checked in with our trusted friend we call Mr. Land for his views on the market. Longtime LandOwner subscribers will recall we refer to Mr. Land periodically for his extensive perspective on the farmland market. But we do not identify him because we want to keep him to ourselves. Sorry. Login to Member Resources to download this edition.
Rabobank: Grain prices moderating
From Capital Press – Moderating feed prices, combined with strong demand, has U.S. beef and dairy producers on target for an exceptional year, according to Rabobank analysts. In the big picture, grain markets are rebuilding and prices have moderated over the last six months and could go lower, said Bill Cordingley, managing director and chief of Rabobank agribusiness research and advisory group. Read more: http://www.capitalpress.com/article/20140306/ARTICLE/140309922 March 6, 2014 Capital Press.
Outlook bright for dairy producers
From Capital Press – High milk prices, strong dairy export demand and lower corn prices are improving the outlook for U.S. dairymen in 2014. Drought in the West, particularly California, however, will bring higher alfalfa prices to dairymen in the region. Optimism on dairy farms is running extremely high right now, and things are looking really good for the first time in four year, said Katelyn McCullock, dairy economist with Livestock Marketing Information Center. Producers are enjoying the highest milk-feed ratio in five years, and U.S. dairy exports broke the record in 2013, up 39 percent on a value basis and up $1.4 billion from 2012, she said during the 2014 Idaho Hay and Forage Association conference. Continue reading: http://www.capitalpress.com/article/20140307/ARTICLE/140309902/1019 March 7, 2014 Capital Press.
Report: Ethanol producers are making good profit
The average production margin of a typical U.S. ethanol plant in the past few months has reached somewhere between 40 and 80 cents per gallon, thanks to slumping feedstock costs, according to a study from Iowa State University. High prices of ethanol and distillers dried grains with solubles, along with strong export demand, are also boosting producers’ profits, said Sean Hill, an economist at the Energy Information Administration. Minnesota Public Radio/Statewide blog (3/5) Continue Reading: http://blogs.mprnews.org/statewide/2014/03/ethanol-gets-a-boost-from-lower-corn-costs/
Official Notification – Policy and Procedure Manual Changes
The following proposed amendments to the Society’s Policy and Procedure Manual were approved by the Executive Council. You may obtain a current copy of the Bylaws and the Policy and Procedure Manual on the ASFMRA Web site or on AgProLink for the Bylaws click here and for the Policy and Procedure Manual click here.
Amendments to the ASFMRA Policy and Procedure Manual Approved by the Executive Council
The following amendments were approved by the Executive Council since the Policies and Procedures they reference are under their jurisdiction. Notification is being provided to the membership of these changes for informational purposes. Download a copy of the Amendments to the ASFMRA Policy and Procedure Manual Approved by the Executive Council.
New Commercial Greenhouse Appraisal Class
During Summer Education Week, July 13th thru 17th, 2014 ASFMRA will be offering a new class on Commercial Greenhouse Appraisals. In this class, you learn three approaches to valuing greenhouse property including a discussion of comparable sales, how to separate real property from the intangible, and be provided with graphic examples of design, fixtures and add-ons.
Unable to attend Summer Education Week? Join the Northeast Chapter for their class, April 29th, 2014 in Vineland, NJ. Registration deadline is April 14th! They also have a greenhouse tour the following day and the one day Income Seminar on the 28th. We will be touring at least one of the top 100 growers.
Thank you for being a part of the ASFMRA! Help the ASFMRA welcome our new members. The ASFMRA appreciates every member for choosing the Society as the association you desire to affiliate with. The ASFMRA continues to make every effort to offer member services which will be of benefit to you professionally and personally.
We are recognizing new members of the Society on a monthly basis. You may recognize your fellow peers in the following list and we encourage you to welcome them into the membership of the ASFMRA.
- Gary Anderson with Farmers National Company in Kearney, NE (Nebraska Chapter)
- James Bauermeister with Bauermeister Appraisal Services, Inc. in Columbus, NE (Nebraska Chapter)
- Todd Benton with Farmers National Company in Malvern, IA (Iowa Chapter)
- John Benz with Farmers National Company in Quincy, IL (Illinois Chapter)
- Halle Brake in Laramie, WY (Wyoming Chapter)
- Michael Burt in Ames, IA (Iowa Chapter)
- Andrew Carr with Betts Land Company with Independence, KS (Kansas Chapter)
- Thomas Chandler with Chandler Ag Appraisal in Del Rey, CA (California Chapter)
- Wesley Christensen with Farmers National Company in Omaha, Nebraska (Iowa Chapter)
- Ryan Fisher in Ames, IA (Iowa Chapter)
- Grant Fitzgerald with Farmers National Company in Cedar Bluffs, NE (Nebraska Chapter)
- Harrison Thadd Fosdick with Farmers National Company in Normal, IL (Illinois Chapter)
- Rod Geppert with Farmers National Company in Fort Pierre, SD (South Dakota Chapter)
- Denson Helms with First South Farm Credit in Enterprise, AL (Alabama Chapter)
- Ethan Kyllo with Farmers National Company in Fargo, ND (North Dakota Chapter)
- Mary Liss with Farmers National Company in Kearney, NE (Nebraska Chapter)
- Jordan Miller with Northwest Farm Credit Services in Spokane, WA (Washington Chapter)
- Kyle Ogden with Busey Ag Services in Decatur, IL (Illinois Chapter)
- Beth Pleggenkuhle in Ames, IA (Iowa Chapter)
- Fendley Ragland with Prudential-Capital Agricultural Property Services in Memphis, TN (Mid-South Chapter)
- Dawn Rasmussen in Belvidere, SD (South Dakota Chapter)
- Christine Sadler with Department of Interior in Lakewood, CO (Colorado Chapter)
- Ethan Smith with Farmers National Company in Eustis, NE (Nebraska Chapter)
- Nicholas Suiess with Busey Ag Services in Decatur, IL (Illinois Chapter)
- Robert Warmbir with Hertz Farm Management, Inc. in Kankakee, IL (Illinois Chapter)
- Melissa Wells in Dos Palos, CA (California Chapter)
- Chancelor Wiese in Ames, IA (Iowa Chapter)
The 2014 Illinois Land Values and Lease Trends Report Available
The 2014 Illinois Land Values and Lease Trends Report is now available for orders. (Download an order form) This 100-page book has the latest information on Illinois land values and lease trends that will be released to the public at the Land Values Conference on March 20. All orders received will be shipped after that date (the fact is, the book just went to the printer yesterday and won’t be available in finished form until March 18!!)
Persons attending the Land Values Conference will receive a complimentary copy of the report as part of their registration fee. So you can save yourself $15 AND get all the information from the speakers at the meeting by attending the conference….registrations are currently at 100 and climbing!! Download a program and registration form.
See you there?
If you recently testified in court on opposing sides of another ASFMRA member, according to the ASFMRA Code of Ethics, Article 14, “All Society members who testify as an expert and give an opinion before a tribunal where another member testifies for the opposing party are required to file a case report with the Society office within 30 days after date of testimony. A tribunal is a body or individual who renders a final decision. Depositions are not final decisions.”
Regardless of your membership classification or specialty, this applies to all ASFMRA members. As noted by the ASFMRA Executive Vice President, “One of the advantages of belonging to a great professional Society like ours is this exact process. By submitting the testimony, we are policing ourselves to ensure ASMFRA members are delivering the highest quality and most ethical reviews and appraisals. “Most Trusted” is not just a tagline.”
If you find yourself testifying in court on opposing sides of another ASFMRA member, simply complete the Appraisal Review Case Report form and return it to Hope Evans with any additional information you wish to provide as indicated in Note 2 on the form. Please indicate on the envelope it is Confidential and include Hope Evans’ name then it will be delivered directly to her unopened. Thank you to all ASFMRA members for making the Society one of the elite organizations in the agricultural profession.
News from The Appraisal Foundation
The Appraiser Qualifications Board (AQB) has issued an Exposure Draft of a Proposed Revision to the 2015 Real Property Appraiser Qualification Criteria. Link: https://appraisalfoundation.sharefile.com/d/s8fdb551090a474a9 Issued on February 26, 2014 Written comments requested by April 9, 2014 Send Comments to AQBComments@appraisalfoundation.org Questions? Please contact Magdalene Vasquez, Qualifications Administrator, 202.624.3074
The Appraisal Practices Board (APB) of The Appraisal Foundation has extended the comment deadline for the following document: Exposure Draft – The Valuation of Customer-Related Assets All interested parties are encouraged to comment in writing to the APB before the deadline of April 30, 2014. Respondents should be assured that each member of the APB and the SME Group will thoroughly read and consider all comments. Written comments on this Exposure Draft can be submitted by mail, email and facsimile. Mail: Working Group 2 – Customer-Related Assets c/o Paula Douglas Seidel The Appraisal Foundation 1155 15th Street NW, Suite 1111 Washington, DC 20005 Email: VFRcomments@appraisalfoundation.org Fax: 202.347.7727 If you have any questions regarding this Exposure Draft, please contact Paula Douglas Seidel at (202) 624-3048 or firstname.lastname@example.org.