Business

AUSTIN–Crude oil and natural gas production reported to the Texas Railroad Commission in December 2020 came from 168,775 oil wells and 86,267 gas wells. The RRC reports that from January 2020 to December 2020, total Texas reported production was 1.461 billion barrels of crude oil and 10.197 trillion cubic feet of total gas.

TEMPLE—The USDA Natural Resources Conservation Service (NRCS) in Texas is now accepting applications through April 9, for Fiscal Year 2021 funding for the Conservation Stewardship Program. NRCS plans to invest more than $8 million for new enrollments this year for Texas.

Winter Storm Uri, which blasted through the entire state of Texas, caused at least $600 million in agricultural losses, according to preliminary data from Texas A&M AgriLife Extension Service (https://agrilifeextension.tamu.edu/) agricultural economists.

TEMPLE—The USDA Natural Resources Conservation Service in Texas has extended its application deadline for the Agricultural Conservation Easement Program (ACEP) from March 1 to March 10, due to recent weather-related power outages across Texas. While NRCS accepts easement applications on a continuous basis, applications for the next funding consideration must be submitted by March 10.

Estate planning seminar is offered to High Plains agriculture producers An estate-planning seminar presented by Texas A&M AgriLife Extension Service agriculture law specialist Tiffany Dowell Lashmet will be held on Tuesday, March 2. The in-person event will be from 6-8 pm in The Event Center at 622 E.

AMARILLO, Texas—Plains Land Bank has good news for its stockholders. It will distribute a record $8.8 million in cash patronage to its stockholders in April. The rural lending cooperative declared the patronage distribution based on its strong financial results in 2020.

The Texas A&M AgriLife Extension Service will present a two-session online program focused on assisting female landowners Feb. 23 and Feb.

Dramatic increases in grain and oilseed prices in the last three to four months are affecting cattle feeding operations. July corn futures are currently priced at $5.20/bu compared to weekly cash prices above $4.00/bu in mid-October 2020 and $5.44/bu by mid-January 2021. While the supply of feeder cattle is mostly determined for 2021 according to Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist and those cattle will go through the feedlot as usual, a different production system can be employed in response to rising corn prices. The cattle industry responds to corn market signals to use less corn my placing cattle at heavier weights and using other forage feeds to add additional weight to cattle prior to feedlot placement. Lighter weight feeder cattle prices may decline relative to heavier cattle.

Texas Farm Bureau (TFB) is processing registration for its upcoming Young Farmer and Rancher Conference scheduled for April 9-11 at the Austin Marriott North Hotel in Round Rock. Sessions will also be available via Zoom for those unable to travel to the event. Designed to equip young Ag leaders with tools and information needed to increase their agriculture advocacy efforts and assist with farm and ranch decisionmaking. Open to college students and farmers and ranchers ages 18-35, attendees will learn about the Texas Farm Bureau, hear from legislators, and learn more about the legislative process. More information is available at https:// texasfarmbureau.org/YFR, or by calling 254.751.2489. TFB also awards over $200,000 annually in scholarships. Details are at http:// texasfarmbureau.org. Applications are due by March 5.

AUSTIN—Texas Comptroller Glenn Hegar announced today he will send cities, counties, transit systems and special purpose taxing districts $1.05 billion in local sales tax allocations for February, 0.7 percent more than in February 2020.