Business

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.

Texas Farm Service Agency (FSA), in partnership with Texas A&M AgriLife Extension, is hosting the Texas Program Updates Webinar via Zoom tomorrow, Friday, Feb. 12, from 9-10 am. Texas FSA state office staff will discuss county office operations during the COVID-19 pandemic. Important updates will include the Coronavirus Food Assistance Program (CFAP) and Quality Loss-Adjustment Program (QLA), Farm Loan programs, and Agriculture Risk and Price-Loss Coverage Program. Registration is required at https://bit.ly/3jDHD2m.

AUSTIN—The Railroad Commission of Texas issued a total of 512 original drilling permits in January 2021 compared to 1,156 in January 2020. The January 2021 total includes 446 permits to drill new oil or gas wells, two to re-enter plugged well bores, and six for re-completions of existing well bores.

Confirmation hearings for Tom Vilsack, 70, ended Tuesday before the Senate Agriculture, Nutrition, and Forestry Committee with the Senate panel voting unanimously to advance his nomination to the full Senate. The Iowa native is expected to garner broad bipartisan support leading to a smooth confirmation process as U.S. agriculture secretary.

AUSTIN—Texas Comptroller Glenn Hegar this week said state sales tax revenue totaled $3.07 billion in January, 0.3 percent less than in January 2020.The majority of January sales tax revenue is based on sales made in December and remitted to the agency in January.