LMD April 24

Riding Herd Saying things that need to be said.

APRIL 15, 2024 • www.aaalivestock.com

Volume 66 • No. 4

by LEE PITTS

The Renaissance Cowboy Splitsville LEE PITTS

D

arol Dickinson is the cattle industry’s Renaissance Man. As you’re probably aware, The Renaissance was a period in European civilization that was marked by a revival of Classical learning and wisdom.

To refer to someone as a “Renaissance Man” or “Renaissance Woman” means that individual is extremely intelligent and a highly skilled person in many areas.

I don’t know of a better definition of Darol Dickinson than that.

Head To Tail

NEWSPAPER PRIORITY HANDLING

I first became aware of Darol when a friend gave me Darol’s classic book called ‘The Color of Horses’ in which he’d illustrated all 736 of the paintings in it. To this day I haven’t seen anyone who can paint a horse better than Darol did. When the Cowboy Artists of America (CAA) opened at the National Cowboy Hall of Fame in 1966, Darol had artwork in the show as a member of the prestigious CAA. My friend Heather Thomas Smith wrote the best biographical sketch I’ve read yet about the colorful Dickinson and quoted him as saying, “I did paintings and portraits and sold drawings when I was a teenager, selling them from $2 to $5. By the time I went to college I’d sold enough paintings that I was able to just go in and sign up. I asked how much it cost, and wrote them a check.” He was painting portraits of people’s horses and herd bulls all during his college years.

Dickinson Ranch store called Head to Tail.

Every time Darol sold a To give you an idea of what painting he used the money to an entrepreneur Darol is conbuy Texas Longhorns or land. sider that when some horns of By 1979 he quit the painting, his beloved Longhorns got broconstant traveling and tak- ken Darol developed a squeeze ing livestock photographs, (in chute with open horizontal bars which he also excelled), to con- and has never had any cattle get centrate on his Longhorn busi- hurt in it. To this day Darol’s ness in Colorado. It didn’t take ‘Bry Squeeze’ is one of the leadhim long to become the leading ing cattle squeeze chutes of any Longhorn breeder in this, or kind. any other country.

Says Darol, “We had to create In 1993, Darol relocated his some different markets, and do things different. It “It ain’t where, it’s how you worked with live. We weren’t raised to a breed of cattle that take, but we were raised to nobody else give the shirt off our back to wanted, and it became anyone in need.” great. It was the trail less traveled!” operation to the grasslands of eastern Ohio. He registers more than 500 Longhorns, African Watusis and Dutch BueLingo cattle every year and the ranch sells 500 cattle per year, twothirds of which are registered breeding stock. The rest are sold as processed beef through the

Land Grabs Darol has also written several books including Horn Stew, Filet of Horn and his latest, Larapin Horn, but it is his most recent essay, Land Wars of the World, that should be read by everyone in America.

Land Wars Of The World deals with many of the biggest land grabs in history. Wrote Darol, “Since Adam and Eve, land wars seem to have been part of history. From the earliest battles in ancient Mesopotamia to today’s wars in the Middle East, conflicts over land have continually shaped our world.”

According to Darol, “Most wars have been about taking tribute from conquered subjects and land grabs for the powerful.

These land grabs are usually paid for by the losers.”

“Alexander the Great lived more than 2,000 years ago,” wrote Darol. “By age 30, he had amassed one of the largest empires in history, stretching from Greece to northwestern India. Widely considered one of world’s most successful military commanders, he was undefeated in his battles for land and tribute.”

“The Roman Empire was one of the largest land grabs in history,” wrote Darrel, “with contiguous territories throughout Europe, North Africa, and the Middle East. The Latin phrase “imperium sine fine” (empire continued on page 2

Biden Admin ‘The River is Accelerates Plan Essentially Dead’ to Unleash Grizzly Bears Near Rural well-funded environmentalist group played a key role in the push to reCommunity Over move dams in the Pacific Northwest’s Klamath River ahead of preWidespread Local mature deaths of thousands of salmon.

Opposition American Rivers — an organization that has

BY NICK POPE / DAILY CALLER NEWS FOUNDATION

A

SOURCE: FOX NEWS

T

he Biden administration is accelerating a proposed plan to translocate grizzly bear populations in the federally-managed North Cascades National Park, which borders rural communities in northern Washington State.

In a joint announcement, the National Park Service (NPS) and U.S. Fish & Wildlife Service (FWS) published a final environmental impact statement evaluating its options for grizzly bear management in the region.

The filing lists the federal government’s preferred course of action as the translocation of grizzly bears from other ecosystems with an “experimental population designation.”

“Designation of grizzly bears released into the U.S. portion of the [North Cascades Ecosystem] as a [nonessential experimental population] would provide authorized agencies with greater management flexibility should conflict situations arise,” the agencies wrote in the filing. “Any management actions would be consistent with the overall goal of establishing and conserving the NEP while promoting social tolerance and human safety.”

“The designation allows for the advancecontinued on page 3

received millions of dollars from left-of-center environmentalist grantmaking organizations in recent years — was “the orchestrator of the Klamath dams removal project,” according to Siskiyou News, a local outlet in Northern California. The drawdowns of several reservoirs pursuant to the scheduled removal of four dams in the river preceded the deaths of “hundreds of thousands” of young salmon in the waterway, according to Oregon Public Broadcasting.

The push to remove the dams is often marketed as beneficial for salmon, as proponents of the plan — including American Rivers — have argued that the dams obstruct the natural movements of salmon as well as their access to habitat. However, weeks after beginning the process to remove one of the systems scheduled for deconstruction on the river, a large number of the 830,000 young salmon released into the river on February 26 had died as of March 2, according to the California Department of Fish and Wildlife (CDFW).

CDFW officials attributed the mass-death to gas bubble disease, which is caused by changes in water pressure, and stated that the changes in pressure driving the deaths were attributable to old dam infrastructure that is slated for removal.

The agency further stated that water turbidity continued on page 4

I

am happy to announce the messy divorce between two bosom buddies who deserved each other. I am referring to the imminent split between the greenies and the animal rightists. Until now the two groups marched in each other’s parades, attended each other’s rallies and shared mailing lists. If you were an Earth Firster no doubt you had a PETA membership card in your purse or wallet.

The two factions were joined at the hip and incessantly lawyered up and voted in lockstep, much to the chagrin of aggies everywhere.

But recently the two have been seen cheating on each other and their uncoupling is getting nasty, much to the delight of farmers and ranchers. We’re absolutely elated to divulge that this is not a trial separation either but a permanent splitage of the sheets.

The problems in the marriage started when the greenies giant wind machines turned out to be BIG Bird Blenders slicing and dicing our feathered friends as if they were carrots in a juicer. This was something no true animal rightist could condone. And how should a greenie feel about the previously hated ranchers who lease their land to climate change whackos to put up these BIG Bird Blenders?

The same can be said about the huge solar arrays that quickly became infertile deserts completely devoid of animals, including all the fuzzy little creatures so beloved by animal rightists. If the animal rightists sided with the greenies on this issue, were they really being true to their cause? It’s easy to see how they could become conflicted to the point of needing counseling.

The biggest point of discord between the animal rightists and the greenies are the huge fires that have been turning days into nights with their smoke. Prior to these horrific infernos it would be seen as heresy for a greenie or an animal rightist to be seen or heard speaking with a rancher. It was the greenies who wanted the cows, sheep and goats off all public land and then much to their surprise, the dried grass and forbs furnished the fuel for the largest fires in American history and these fires didn’t just burn up the much hated cows and sheep, they

continued on page 4

Page 2

Livestock Market Digest

April 15, 2024

RENAISSANCE COWBOY

continued from page 1

without end) signaled that neither time nor space limited the Roman Empire’s expansion. The basis of Rome’s strength, like Alexander’s, was land capture and tribute.”

More recently we’ve seen the downfall of the Commonwealth of Great Britain which was arguably, the most powerful nation in the world at the time before losing its conquered lands one by one. More recently we’ve witnessed Putin’s attempted land grab in Ukraine.

He’s No Abe Lincoln

lit Yes.

In reading Darol’s essay I realized there was another reason Abraham Lincoln is my favorite president. Darol writes, “The 16th President of the USA, believed that private ownership and management of land is more productive than government control. He understood that the Federal government couldn’t possibly manage the whole western USA. Private property was the answer—land surveyed, titled, used, improved, maintained, and loved by non-government owners. At the peak of the American Civil War, Lincoln developed a strategy to increase the US’s citizen-owned land. He signed the 1862 Homestead Act into law. It was intended to open western lands to settlers on what the government considered to be ‘idle’ tracts of land captured from Native Americans or purchased like Alaska and the Louisiana Purchase. Pioneer homesteaders were required to improve the land and produce goods, food, or a service. If they lived on their 160-acre homesteads for seven years, the land was theirs at no cost.”

Compare that attitude with President Joe Biden who on January 4, 2024, in Coconino County, Arizona, “Proudly announced,” wrote Darol, “his administration had so far wrested a whopping 24 million acres from private enterprise for the Federal government—a new record for land takeovers, paid for with public tax dollars, and now eliminated from private management and production. Why this enormous acquisition? Ostensible reasons include ‘preservation,’ ‘conservation,’ ‘protection,’ and so forth. To encourage citizens to believe that these and other millions of acres are still theirs, the government often renames formerly private property as ‘public’ land.

The question bounces back, however: “Who is all this land being protected from?”

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Darol rounded up some numbers that should concern everyone.

Darol found that the US government owns 664,000,000 acres— almost 30 percent of the nation’s total continental land mass of 2,271,343,000 acres. Darol also found that the national debt is $34,000,000,000,000. That’s 34 Trillion! Darol then calculated the US debt per acre of US owned collateral and found it to be $51,203 PER ACRE! Good luck trying to find a banker who’d give you a loan on that basis!

In other words, “The feds own more ground than the entire acreage of the Roman Empire, give or take a few coliseums.” Writes Darol, “Most Americans don’t realize that our government’s undeclared war for land is a covert, out-of-control monster.”

“How did the federales remove so much land from private tax rolls? Well, they funded it with public tax dollars. The takeover is orchestrated not by Congressional legislation but by executive orders from the Oval Office and rulings from the administrative bureaucracy — without a vote of the citizens or their representatives.

The unstated process of this unacknowledged land grab typically bypasses public scrutiny.” Agencies in the Executive branch in Washington, D.C., issue rulings, levy fees and fines, collect “tribute,” then buy private property and remove it from production.

That bureaucratic removal is a political conquest that marks the end of private management. The process has historically happened in war but continues today under political cover.

“As recently as January 2024, President Biden also announced that he was expanding the Green movement in Alaska by closing 10,600,000 acres to oil and gas leasing. The federales already own 95.8 percent of Alaska, leaving only 4.2 percent of a resource-rich state for private enterprise to manage and harvest. This administrative action now ‘protects’ the nation’s western Arctic area from the alleged detriment of oil and gas exploration.”

“That’s not the only conquest of private property orchestrated from D.C,” wrote Darol. “On his inauguration day, Biden mentioned his 30x30 Plan—a strategy (or plot or scheme) to transfer 30 percent of US land from private ownership to the government by the year 2030. He later released his 50x50 Plan for the government to transform 50 percent of the US to ‘public lands’ by 2050. And believe it or not, Biden has even proposed a 70x70 plan, that would put 70 percent of America under direct government ownership in less than 70 years.

In an Epoch Times interview, Aurelia Skipwith (President Trump’s Secretary of Fish and Wildlife) said, “No one knows how much land the Federal government thinks is enough.” Margaret Byfield, Executive Director of American Stewards of Liberty said, “This is their end game. The reason for the 30x30 land grab. The purpose for the climate crisis hysteria. We will own nothing. The US government will own everything.”

“The Federal government, (not including State lands) already owns 87.8 percent of Nevada, 75.2 percent of Utah, 70.4 percent of Idaho, 60.4 percent of Oregon, etc. As noted above, it already owns nearly 30 percent of continental US land, so it has almost achieved the full 30x30 goal of Federal ownership. As the 50x50 proposal clearly shows, more acquisitions of private land are being planned for the ‘public good,’” wrote Darol.

Closer To Home “You may not be concerned with yesterday’s land-grabs by Attila the Hun, or perhaps today’s by Vladimir Putin in Crimea and Ukraine, or maybe not even current marginal US lands a thousand miles away. But what about tomorrow, on your own doorstep?” asks Darol rhetorically. “What if a property is right across the road from your home? What if some State or Federal agency claims it is fallow

April 15, 2024 ground better used for conservation or wetlands or biodiversity or ‘the greater good’? You could become the victim of peacetime ‘tribute.’”

“Such is the case of Kirkwood Township in Ohio’s Belmont County,” says Darol. “Only 4.2 percent of Ohio is owned by the Federal government, yet the State itself owns 664,000 acres. Here’s the hidden hitch: governments at all levels work together in a fungible relationship. Historically, they have traded land among themselves to fund bridges, city water development, etc. Never have these fungible transactions been determined by a vote of the citizens—never! So we must ask, ‘Are the Federal and Ohio governments working together on Biden’s 50x50 scheme in Belmont County?’”

“In Kirkwood Township, a citizens committee has identified the effects of Big Brother as a neighbor and they aren’t good. Under the Ohio Department of Natural Resources (ODNR), the State of Ohio has acquired up to 28,000 acres in Belmont County for the Egypt Valley Wildlife Refuge. It’s working to confiscate more.

This land is a small fraction of the land that Ohio already owns, but the committee has discovered that the State’s piece-by-piece ‘conquest’ is devastating the local economy. An undeclared war on private land has made Kirkwood Township the poorest in Belmont County and one of the poorest municipalities in Ohio.”

On Our Watch “Why this dereliction?” asks Darol. “Broken promises are the reason that the Egypt Valley Wildlife Refuge has degenerated from its idealistic origins to its present wretched condition.

Livestock Market Digest Over two dozen years ago, the ODNR rationalized its takeover of 28,000-acres. It promised to help the local economy by developing tourism through lakes, pavilions, trails, hunting, fishing, etc. To date, however, the 100-acre lake has not materialized— nor have any of the other improvements. As with so much government fallow land, the EVWR is now an impenetrable jungle spotted with litter and heaps of trash. Why the unfulfilled promises? This public land is suffering from a lack of routine, responsible management.”

In the meantime...

1. The Ohio Department of Natural Resources (ODNR) pays zero taxes.

The tax loss from the EVWR is estimated at $8,932,000 during ODNR control. This lost revenue could have gone to roads, schools, law enforcement, and public services.

2. No timber has been select cut. It could have been responsibly, sustainably cut every 18 years. 28,000 acres x $2,000/acre x 2 cuts = $96,000,000 of lost income.

3. No agriculture or hunting leases have been issued. 28,000 acres x $30/acre x 28 years = $24,360,000 forfeited—not a cent received by local governments.

4. No oil and gas signing leases. $5,000/acre = $140,000,000 unrealized.

5. No oil and gas royalties.

18-20 percent annually for 35 years. Incalculable losses.

6. No surface liquidation. $2,000/acre x 28,000 acres = $56,000,000 potential income.

7. Undeterminable loss of private enterprise production of food, products, and services.

“To repeat, due to negligent and non-existent

government management, none of the above has been accomplished in Belmont County, Ohio. This pathetic record,” says Darol, “is typical of most Federal lands. The government simply does not exercise the care and concern of private enterprise.”

What can an individual do at this late date to save America from the Socialists? Darol has a short list of answers. “Elect representatives who pledge to never expand government land or who will vote to preserve land under only the most compelling conditions; Support representatives who pledge to sell government properties back to private owners in a systematic, orderly process for profitable use; Demand taxation of all government properties and vehicles; Be alert to well-meaning bureaucrats who are actually scrambling to earn Biden’s approval by confiscating millions of acres of private property.

“Quit this tax-payer-torture!” says Darol. “The bleeding must stop. Just say no to all new government land acquisitions and start an orderly liquidation of the government waste-land ownership.”

As a student of history Darol says, “All great nations eventually die out, some more slowly than others.”

It is not hyperbole to suggest that this upcoming election will decide if your grandchildren grow up in a capitalistic Democracy and enjoy the same freedoms and liberties we have.

We should NEVER let it be said that America the Beautiful died on our watch.

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Page 3

GRIZZLIES

cont. from pg. 1

ment of recovery objectives by providing an opportunity to reestablish a population within the ecosystem,” they added. “The proposed geographic extent for the grizzly bear … includes all of Washington state except an exclusion area around the Selkirk Ecosystem grizzly bear recovery where a population of bears currently exists.”

The NPS and FWS further wrote in their environmental impact statement that its proposal is expected to improve social tolerance of grizzly bears, and even increase public visitation and recreation in North Cascades National Park “as visitors seek to experience grizzly bears in their native habitat.”

The agencies, though, acknowledged the potential impact of the proposal on local communities, livestock and farms. As a result, the plan allows people to injure or kill a grizzly bear that is threatening a person’s life or is in the act of attacking livestock, including working dogs on private land, under certain conditions.

Still, the proposal was quickly condemned by Representative Dan Newhouse, R-Washington, who represents local communities in the region.

Newhouse noted locals’ widespread opposition to the proposal. Late last year, federal officials hosted a town hall in his district to receive feedback on the translocation of grizzly bears and, while hundreds of residents attended, just six spoke in favor of the plan.

“This final EIS reveals the Biden Administration is more intent on pushing policies about Central Washingtonians than for them,” Newhouse said in a statement. “The Fish and Wildlife Service and National Park Service held public comment sessions in my district where the overwhelming majority of voices, which I heard firsthand, were adamantly opposed to the introduction of grizzly bears.”

“Their voices have been shut out of this entire process,” he continued. “This administra-

tion’s blatant disregard for public opinion and their unwavering commitment to the whims of extreme environmentalists, many whom don’t live anywhere near where the bears will be, is proven by the announcement of their ‘preferred alternative’ today.”

In late September, the Biden administration first proposed the translocation plan and issued a draft environmental impact statement opening the door to release the apex predator in the region. Under the proposal, the federal government would release up to seven grizzly bears annually into the North Cascades ecosystem over the course of the next five to 10 years.

The federal government’s overarching goal under its plan is to establish a grizzly bear population of roughly 200 bears in the coming decades.

According to the NPS, Grizzly bears occupied the North Cascades and served as an “essential part of the ecosystem” for thousands of years. However, in the 20th century, as a result of aggressive hunting practices, the species was driven into near extinction, and the last confirmed sighting of a grizzly bear in the North Cascades ecosystem was in 1996.

Reintroducing grizzly bear populations in Washington, therefore, has been a priority for environmental groups who have argued that the species is vital for the wider ecosystem.

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Page 4

Livestock Market Digest

SPLITSVILLE cont. from pg. 1

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fried every animal in their path, even turning endangered species into crispy critters. Some animal rightists even advocated bringing back the four-legged lawn mowears, restarting the chainsaws and suggested that perhaps ranchers weren’t quite so evil after all. That made the greenies so mad at the animal rightists they threw all their belongings out in the street.

I got a front row seat and a chance to see up close and personal how this drama played out. Where I’ve lived for the past 40 years I am bordered by the Pacific Ocean and a huge state park. Prior to building our home I consulted with the local firemen and asked how much fire danger I was subjecting my wife and I to. To a man every fire fighter said they had never seen or even heard of a fire in my area because the morning fog invariably wets things down.

But this did not stop the state from sending in the Civilian Conservation Corp to denude a demilitarized zone all around our development. This caused all the furry creatures to relocate and all of a sudden gophers

were denuding flower gardens, hordes of raccoons started tipping over trash cans and a growing chorus of coyotes serenades us every night. When a mountain lion was seen walking down the main street in broad daylight people demanded action.

I hope I’m not being too conceited when I tell you that I have gained a certain reputation over the years amongst my neighbors as an exceptional gopher trapper and so it was only natural for neighbors to ask me for my help. When one gentleman, who previously wouldn’t even speak to me and had a “Mercy For Animals” bumper sticker on his Smart Car, asked me for help in killing his gophers I was aghast. “But I thought you were an animal lover?” I asked.

To which he replied. “I don’t give a ---- about no stinking gophers. I’m telling ya I want them dead, dead, dead.”

I think that alone should be enough to get a first-degree conviction for hypocrisy by any jury filled with PETA members.

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April 15, 2024

DEAD RIVER cont. from pg. 1 and dissolved oxygen levels do not appear to have contributed to the mass-death.

The young salmon that died travelled through a tunnel involved in the dam infrastructure that had previously not been accessible to the fish before officials alteredaa the flow of water through the system as part of the removal process, Peter Tira, an information officer for the CDFW, explained to the Daily Caller News Foundation. The deaths were primarily a function of where the fish were released into the water, and the outcome, though unfortunate, is a learning opportunity for stakeholders who remain committed to making the Klamath River a free-flowing cold water river system again in the long-term, Tira told the DCNF. American Rivers is also closely involved with the Klamath River Renewal Corporation (KRRC), a nonprofit coalition that is playing a key role in the removals in accordance with its stated mission to “remove the Klamath hydroelectric dams and restore a free-flowing river.”

Along with other organizations involved with the KRRC, American Rivers has appointed several officials to the group’s board of directors.

However, some officials and environmental policy experts are not buying the government’s explanation for the mass-death of salmon, asserting instead that it is clear that the removal of the dams set conditions for the mass-death.

“The risk of gas bubbles is well known, so the fact that one million salmon were killed is a failure of government staff to prevent their death. Rather than act as if this is the fault of the dam, government staff should acknowledge their mistake and learn from it,” Todd Myers, the director of the Washington Policy Center’s Center for the Environment, told the DCNF. “It is unfortunately typical that when government actions harm the environment, agencies spend more time deflecting blame than addressing the problem or being held accountable.”

Regardless of whether or not dam removal is the right decision, poor planning or execution of the removals should not be excused, Myers emphasized.

Republican California Rep. Doug LaMalfa, whose district includes the river and is a longtime opponent of removing the dams, agreed with Myers’ assessment of the causes for the deaths.

LaMalfa has been warning removal proponents “from day one” that moving to hast-

Dead fish are pictured along the Klamath River system. (Photo via the office of Republican California Rep. Doug LaMalfa)

ily remove the dams without a comprehensive plan to handle second-order effects could be catastrophic, he told the DCNF. He believes many proponents of removing dams are mostly interested in adding metaphorical “trophies” to their shelves rather than devising and implementing effective plans to remove the dams responsibly.

“This is about political scores.

People like me and others have been warning them for two decades that when you do this, and you have no plan for the silt — and they don’t have one — they have been exposed that they have no plan. They’re just doing it, doing it on the fly,” LaMalfa told the DCNF. “We see the destruction with the flume that has gone down the whole river and out in the ocean. I understand it’s even moved all the way up towards Crescent City, which is many miles up the coast.”

American Rivers, meanwhile, does not appear to have publicly addressed the high volume of salmon deaths in the river, despite having advocated for the removal of the Klamath River dams for years. American Rivers did not respond to requests for comment.

“I’ve been around natural disasters all of my life, and I’ve never seen anything like this,” Siskiyou County Supervisor Ray Haupt told the California Globe. “The river is essentially dead, as is everything in it.” https://cdn01.dailycalle r. c o m / w p - c o n t e n t / u p loads/2024/03/water-samples. jpg Water samples collected by locals demonstrate the condition of water extracted from affected segments of the Klamath River. (Photo via the office of Republican California Rep. Doug LaMalfa) American Rivers has received at least $3.6 million from leftof-center grantmaking and environmentalist organizations — including the Charles Stewart

Mott Foundation, the Resources Legacy Fund, the William and Flora Hewlett Foundation, and the Water Foundation — since 2020, according to a review of tax filings. The New Venture Fund, one of the grantmaking nonprofits overseen by left-wing dark money behemoth Arabella Advisors, gave American Rivers nearly $400,000 between 2020 and 2022, according to tax filings.

There are still several other dams on the river that are set to come down as part of the removal project. Many property owners are seeing the values of their property along the water drop because of changes driven by the dam removal, LaMalfa told the DCNF. “People with homes in the area are seeing their home values drop, even in one case their actual house might drop into the canyon because the water table has shifted,” LaMalfa told the DCNF. “And people with loans on their homes no longer have the value to keep their equity up.”

For its part, KRRC has established a mitigation fund to pay locals who may be adversely impacted by the consequences of dam removal.

“The California Department of Fish and Wildlife (CDFW) manages the Fall Creek Fish Hatchery,” which is the facility that released the ill-fated salmon into the waterway, a KRRC spokesperson told the DCNF. “The Department determined the mortality of salmon fry was caused by remaining dam infrastructure, not by dam removal.

Fortunately, that infrastructure will be removed along with the rest of the dam this year. In the meantime, CDFW will be trucking fish around the dam to avoid this occurring with upcoming releases from the hatchery. “

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This article originally appeared in The Daily Caller

Water from the Klamath River mixes with water from a different body in northern California. (Photo via the office of Republican California Rep. Doug LaMalfa)

April 15, 2024

Livestock Market Digest

The BLM’s Quiet War on Precious Metals

BY SCHIFFGOLD

T

he Bureau of Land Management is a federal agency that controls 245 million acres of land and controls 30 percent of the country’s mineral resources. On the East Coast, it manages little land but manages an enormous share of Western states. It owns over two-thirds of Nevada.

This gives the federal government enormous sway over the West. Want to go hunting? Want to start a logging company? Want to go hiking? Better make sure it’s okay with the federal government first.

The BLM does allow the public and businesses to use some of its land. That’s the law. The BLM is supposed to accommodate energy production, outdoor recreation, and conservation.

One of the uses that the BLM allows is gold mining. According to the GAO, billions of dollars worth of gold are mined from these lands annually. The status quo is quite favorable for mining of gold and some other precious metals like silver, lithium, and copper because the miners are not required to pay royalties to the federal government which owns the land the resources are extracted. This is in contrast with fossil fuel extraction on public land where energy companies are required to pay royalties.

But recent moves by the Biden administration bureaucrats in charge of BLM suggest that the administration is taking aim at precious metal production and might cut off the supply of precious metals from precious land.

The BLM and the broader Biden administration are doing this in two ways. First, Biden is designating more and more federal land as national monuments. National monuments are kind of halfway between national parks that are set aside for conservation and limited recreational activities such as hiking and the normal federal land managed by the BLM which is generally open to hiking, hunting, and sometimes mining and logging. Every president has the power to declare federal land a national monument under an obscure law from 1906, the Antiquities Act. The Antiquities Act was meant to be used to preserve prehistoric Native American ruins, but as written allows the president to unilaterally use, at his discretion.

While these new monuments might be popular among liberal staffers at the Biden White House and environmentalists, creating new national monuments is often unpopular among the people who have to live around them. One of the new Biden administration’s national monuments in Arizona has been condemned by state leaders and mining companies who argue that “it aims to halt all mining, ranching, and other local uses of federal lands that are critical to our energy independence from adversary foreign nations, our food supply and the strength of our economy.”

President Obama used the power to create monuments far more than previous presidents- he created 26 new national monuments that cover over 88 million acres, and he extended the boundaries of existing national monuments to cover hundreds of millions more acres. If Biden follows Obama, more and more American land will be micromanaged by the federal government, with diminished opportunities for mining.

The other step the BLM is pursuing that might cut off precious metals production is the proposal of the innocuously named “Public Lands Rule.” The rule, which the BLM plans to soon implement would in the BLM’s own words “ensure that the BLM can respond to these pressures, managing for healthy lands today so that it can deliver its multiple-use mission now and in the future — to ensure the health, diversity, and productivity of public lands for the use and enjoyment of present and future generations.”

In practical terms, experts have pointed out this would mean that BLM would shift from trying to balance different uses of land- hiking, hunting, fish, and mining- to putting environmentalists’ concerns first.

Because the rule would make it easier for the federal government to close lands to mining, it has faced opposition from Western states including the governors of Utah, Idaho, Montana, Nevada, South Dakota, and Wyoming.

Biden’s first term is nearing its end, but if he has a second term, his administration will likely ramp up opposition to precious metals mining. Even if he is defeated, there is a long precedent of presidents rushing out extreme regulations in their final weeks of office once they no longer have to worry about re-election. Federal opposition to the production of gold is likely to intensify in the short term, no matter which way the presidential election goes.

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Page 5

Texas & Southwestern Cattle Raisers Association Names New Leadership Volunteers elected, appointed during 2024 Cattle Raisers Convention & Expo.

T

exas & Southwestern Cattle Raisers Association, the oldest and largest livestock association in the Southwest, elected Carl Ray Polk Jr. as president during the 2024 Cattle Raisers Convention & Expo.

Polk, of Lufkin, Texas, is a respected figure within the industry, bringing extensive expertise and a proven advocacy track record to his two-year term as TSCRA president. As a third-generation rancher and land steward, Polk is well-positioned to steer the association toward continued growth and success.

“When you look back through TSCRA history, it is beyond humbling to be part of this long-standing organization,” Polk said. “I’m honored to serve alongside our leadership, board of directors, committee leaders and volunteers in support of our membership and mission.

During the 2024 Cattle Raisers Convention & Expo, the TSCRA Executive Committee met to approve the newest additions to leadership roles for the organization. Stephen Diebel of Victoria was named first vice president and Dan Gattis of Georgetown was elected as second vice president.

Four members were elected to the TSCRA Board of Directors.

These include: Anson Howard, San Antonio; Michael Sasser, Corpus Christi; Richard Marbach, Victoria; and Ross Thompson, Iowa Park. Three members were elected to the executive committee: Austin Brown III, Beeville; Claudia Scott Wright, Richmond; and James L. Donnell Jr., Fowlerton.

Polk succeeds Arthur Uhl, whose leadership and dedication have been instrumental in driving TSCRA’s mission. On behalf of the association, Polk extended his appreciation to Uhl for his invaluable contributions and wished him continued success in his future endeavors.

“I want to thank Arthur for setting an outstanding example of what a Texas & Southwestern Cattle Raisers Association president should stand for,” Polk said. “I hope to uphold many of the examples he’s set.”

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Groundbreaking Working Grant Program Launches in Texas & Oklahoma

D

uring the 2024 Cattle Raisers Convention & Expo, Texas & Southwestern Cattle Raisers Association (TSCRA) Leadership Development Foundation announced the launch of the new TSCRA Leadership Development Foundation Working Grant Program. This groundbreaking program aims to support those starting or growing a business in ranching, beef production or related area supporting the beef value chain.

The program is administered through the TSCRA Leadership Development Foundation, a 501(c)(3) organization established by Texas & Southwestern Cattle Raisers Association in February. In addition to financial assistance, it provides indi-

Advertise to Cattleman in the Livestock Market Digest

viduals access to mentorship, educational resources and networking opportunities to enhance their skills and expertise.

“Whether it’s helping a young producer purchase their first parcel of land, or it’s enabling a veterinarian to open a large animal clinic in a rural community, or giving a generational producer the opportunity to grow their operation, these grants have the power to transform lives and revitalize our rural economies,” said TSCRA President Carl Ray Polk Jr. The Texas & Southwestern Cattle Raisers Association Leadership Development

Foundation will accept applications twice annually in May and November and is open to applicants in Texas and Oklahoma involved in various segments of the beef industry, including cow-calf operations, stockers, feeders, packing plants, veterinary clinics, and other segments of the beef value chain.

Applications for the TSCRA Leadership Development Foundation Working Grant Program will open May 1, 2024. Individuals interested in applying are encouraged to visit tscra.org/what-we-do/leadership-development-foundation/ for more information.

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Page 6

E

&E news recently had an article addressing the BLM’s rule change on conservation and their new emphasis on designating Areas of Critical Environmental Concern (ACECs).

Released last March, BLM says the rule emphasizes conservation and makes it as important as livestock grazing and energy development.

BLM Director Tracy Stone-Manning says, “The impacts of a changing climate and increased use [of public lands] are here today. And if the BLM intends to fulfill its promise to the American people and to future generations, we need the tools to respond.”

The enviros are right with her. Danielle Murray, with the Conservation Lands Foundation, says, “For nearly 40 years, the agency has largely focused on resource extraction and other multiple uses but neglected conservation, recreation, wildlife, fragile watersheds and cultural resource protection in partnership with tribes who have stewarded these lands for centuries. This rulemaking gives the BLM an opportunity to rebalance its priorities and develop an inclusive conservation approach.”

The proposed rule also sets up a new conservation leasing system which would allow nonprofit groups to acquire leases on BLM lands for up to 10 years.

The article says they expect this rule to be finalized in April.

So what does this new rule and placing a priority on ACECs mean?

Bret Birdsong, a law professor at the University of Nevada is quoted as saying the BLM is “undergoing culture change.” The professor, who worked at Interior during the Obama administration, says the proposed rule, “is designed and will have the effect

Livestock Market Digest

BLM’s Culture Change on the Range of helping to push that culture change away from industrial uses and towards more conservation-minded management of the public lands.”

The BLM says that designating ACECs is “a principal tool for protecting important natural, cultural and scenic resources on the public lands the BLM manages.”

With the new emphasis on them, you better get ready for those new ACECs. In the last year alone BLM has identified 85 parcels comprising 2.2 million acres as ACECs. Go to the Land Use Planning section of FLPMA (202), and under (d) you will find that the Secretary shall “give priority the designation and protection of areas of critical environmental concern.”

Go to the Definitions section of FLPMA (103) and the very first term defined is ACEC: The term “areas of critical environmental concern” means areas within the public lands where special management attention is required (when such areas are developed or used or where no development is required) to protect and prevent irreparable damage to important historic, cultural, or scenic values, fish and wildlife resources or other natural systems or processes, or to protect life and safety from natural hazards.

Now you know what they are and that the agency must give priority to them.

If you really want to get involved and wish to protect yourself and your family, go to the BLM website (blm.gov) and in the search tab enter ACEC. There you will find the most recent instructions to the field “Clarification and Interim Guidance for Consideration of Areas of Critical Environmental Concern Designations in Resource Man-

agement Plans and Amendments.” There you will also find BLM Manual 1613-Areas of Critical Environmental Concern, which provides 22 pages of direction on how to identify and designate these areas.

I’m sure you will find the whole thing a joyful experience.

Finally, one thing Professor Birdsong said intrigued me.

When discussing BLM and ACECs, Birdsong said these designations were “squarely within their authority.” I had been wondering why “lands with wilderness characteristics” was never mentioned.

That fact, combined with the Birdsong quote, led me to thinking BLM was concerned these “lands with wilderness characteristics” designations were on shaky legal ground, and that would be a positive development. The more I thought about it, though, I don’t believe that was the case.

The “lands with wilderness characteristics” designation has certain mandatory criteria that a parcel must meet. The BLM found this to be to be too confining and would prevent them from reaching their desired amount of acreage to be removed from multiple use.

So they chose the more broadly defined ACEC. Most likely ACECs became the weapon of choice for both reasons. They are more legally defensible and they provide the more expansive and flexible platform to make these changes.

Only one thing tops this and that is the President’s authority to designate national monuments. More on that next month.

Until next time, be a nuisance to the devil and don’t forget to check that cinch.

Frank DuBois was the NM Secretary of Agriculture from 1988 to 2003, is the author of a blog: The Westerner (www. thewesterner.blogspot.com) and is the founder of The DuBois Rodeo Scholarship and The DuBois Western Heritage Foundation

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April 15, 2024

Fed Reports Net Loss of $114.3 Billion - Suspends Remittances to Treasury

BY MICHAEL GRAY / SEEKING ALPHA

I

n their recently released Audited Annual Financial Statements for 2023, the Federal Reserve reported a net loss of $114.3 billion.

This is the first annual net loss from the Fed in 108 years.

The Federal Reserve Act requires that the Fed remit all excess earnings to the Treasury.

When earnings are negative, the remittances to the Treasury are suspended. Consequently, for the first time ever, there was no remittance to the Treasury in 2023.

Annual Net Income The net loss of $114.3 billion compares to a net gain of $58.8 billion for 2022, a decrease of $173.1 billion y/y. It also exceeds the largest gain of $109 billion from 2021 in magnitude, but with the opposite sign.

For the prior twenty years, through 2022, the Fed earned an average annual net income of $63 billion. These earnings were remitted each year to the Treasury. The Treasury recorded the Fed’s remittances as a revenue, helping to reduce the government’s fiscal deficit.

This year, there was no remittance to the Treasury. The lack of a remittance becomes lost revenue to the Treasury, thereby increasing the government’s deficit, which ultimately is a cost that is borne by the taxpayer.

As will be discussed later, we project that the Fed will continue to lose money, for at least the next two years. The future losses will be an additional burden to the taxpayers.

Results From Operations Interest income for the year rose modestly, from $170.1 billion in 2022 to $174.5 billion, a $4.4 billion gain, or 2.6 percent.

Interest expense, however, exploded. For the year total interest expense was $281.1 billion compared with $102.4 billion in 2022, a $178.7 billion increase, or a 175 percent gain.

The reason for the major jump in interest expense while

interest income rose modestly is the Fed’s asset/liability mismatch. Stated simply, the Fed earns a fixed rate on its assets, while it must pay a variable rate on its liabilities.

As the Fed has raised short interest rates dramatically to fight inflation, the increase has had virtually no effect on the income earned by the Fed’s fixed rate assets, but has caused the interest expense the Fed must pay on their variable rate liabilities to skyrocket.

From the first hike in March 2022, the Fed has raised the Fed Funds Rate 525 basis points.

The Fed earns roughly 2.1 percent on its System Open Market Account (SOMA) , which is comprised of $5.0 trillion Treasury securities and $2.5 trillion in Mortgage Backed Securities (MBS). The SOMA portfolio represents 96 percent of the Fed’s Total Assets. On the liability side, the Fed pays out roughly 5.3 percent on its variable rate $1.4 trillion Reverse Repurchase Agreements and $3.1 trillion in Bank Reserves.

The Fed will continue to lose money until the cost of their liabilities drops below the breakeven rate, which we estimate to be 3.45 percent.

Based on the Fed’s recently released Dot Plot, they will lose money through the end of 2026.

Deferred Asset When remittances to the Treasury are suspended due to a loss from operations, the Fed utilizes a unique accounting procedure that can best be described as a very lenient accounting treatment.

Instead of having their operating losses reduce their capital account, like most businesses, the Fed is able to store their losses in a deferred asset account called “Deferred Asset – Remittances to the Treasury.”

If the Fed had to use GAAP accounting, the current Deferred Asset, at $157.9 billion would wipe out the Fed’s capital of $42.9 billion, almost four times over.

As the Fed’s operating losses accrue, the Deferred Asset account will only continue to continued on page 12

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April 15, 2024

Livestock Market Digest

Page 7

REAL ESTATE GUIDE

MAJOR PRICE REDUCTION – CALL PAUL FOR DETAILS

575-226-0671 or 575-226-0672 fax

Buena Vista Realty

MLS#11402703

Qualifying Broker: A.H. (Jack) Merrick 575-760-7521 www.buenavista-nm.com

See all my listings at: paulmcgilliard.murney.com Paul McGilliard, Broker Associate Residential / Farms/Ranches / Commercial 417-839-5096 or 800-743-0336

Bar M Real Estate

SCOTT MCNALLY www.ranchesnm.com 575/622-5867 575/420-1237

Bottari Realty

Ranch Sales & Appraisals

Paul Bottari, Broker

Serving all of Southern, Arizona Land, Farms, Homes, Country Estates, Commercial National Advertising – Local Expertise

SOME OF OUR OFFERINGS • Custom Home on 36+ acre estate in Dragoon Mountain Ranch • 36+ acre homesites in St David, AZ • 80 Acre Farm land with 16” Irrigation Well in Willcox, AZ • Custom Home on 4+ acres in Cochise, AZ • 40 acre off grid land in Portal, AZ

775/752-3040 Nevada Farms & raNch PrOPerTY www.bottarirealty.com

United Country Real Estate | Arizona Life Homes and Land 520-403-3903 Arizonahomesandlandsales.com Rick Frank, Designated Broker • 520-403-3903

Call Buena Vista Realty at 575-226-0671 or the listing agent Lori Bohm 575-760-9847, or Melody Sandberg 575-825-1291.

Many good pictures on MLS or www.buenavista-nm.com

THE SAND CAMP RANCH (PRICE REDUCED) The Sand Camp Ranch is a quality

desert ranch with an excellent grass cover and above average improvements. Located in southern Chaves County east of the productive Pecos River Valley. The ranch is comprised of 2,380 +/- deeded acres, 6,074 NM State Lease Acres, 23,653 Federal BLM Lease Acres and 480 acres Uncontrolled, 32,107 +/- total acres (50.17 Sections). Grazing Capacity set by a Section 3 BLM grazing permit at 405 Animal Units Yearlong. The ranch is watered by five primary wells and an extensive pipeline system. This ranch is ready to go, no deferred maintenance. Price: $3,672,000. This one of the better ranches in the area. It is nicely improved and well-watered. You won’t find anything comparable for the price. Call or email for a brochure and an appointment to come take a look.

EIGHT MILE DRAW LAND 740 ± Acres of unimproved native grassland located four miles west of Roswell in the Six Mile Hill area with frontage along U.S. Highway 70/380. This parcel is fenced on three sides and adjoins 120 acres of additional land that may be purchased. Great investment. $600 per acre.

Scott McNally, Qualifying Broker Bar M Real Estate, LLC P.O. Box 428, Roswell, NM 88202 Office: 575-622-5867 Cell: 575-420-1237 Website: www.ranchesnm.com

521 West Second St. • Portales, NM 88130

575-226-0671 or 575-226-0672 fax

■ BERRENDA CREEK RANCH — 231 AYL, Buena cattle Vista ranch Realty— Hillsboro, NM. 51± section 32,870±Qualifying total acres, 120± deeded acres, Broker: 23,646± acres of BLM, 9104± acres of NM A.H. (Jack) Merrick 575-760-7521 state land, 12 wells, 9 dirt tanks, 1 spring, 3 www.buenavista-nm.com pastures, 165,000 gallons of water storage.

Priced at $1,432,200 ■ SMITH RANCH — 19.28± section cattle ranch plus 335± acre farm located in Road Forks, N.M. The ranch has 12,343± total acres, 3721± deeded, 2400± acres of NM state land, 6222± acres of BLM, 154 AYL headquarters has mnfctrd homes, shed row barns (equipment/commodity storage), corrals, cattle chute. The north farm has 163± acres (149 +/- is fallow), the south farm has 173± acres, seller retains a “life A SOURCE FOR estate”. Ranch has been in the same family PROVEN SUPERIOR since 1905. Priced at $2,300,000

SOLD 3/24 !

RED ANGUS ■ CAPROCK MOUNTAIN/VAN METER RANCHES Lordsburg, NM 546 AYL cowGENETICS calf operation consists of two adjoining BLM allotments totaling 75 +/14298 N. Atkins Rd., Lodi, CASections 95240 48,178 +/Total acres 3,445 +/- deeded acres 34,452 +/acres of209/727-3335 BLM, 10,281 +/- acres of state land the carrying capacity is 546 AYL plus 5 horses w/ two separate headquarters w/barns & corrals, facilities included, silencer cattle chute, scales, semi-load chute & multiple pens with feed bunks, 40’ x 60’ barn plus a commodity barn 9 wells; 5 electric submersibles, 3 solar wells, one windmill, one spring & 12 dirt tanks, 100,000 gallons of water storage 26 miles of pipeline that connects to each well 12 pastures & 5 traps, 5 sets of working corrals strategically placed on the ranches. Black Angus & black baldy running age cows, Angus bulls, bred replacement heifers & equipment was negotiated. Sale Price Undisclosed.

SOLD 2/24

by PRIVATE TREATY !

www.scottlandcompany.com

SOCOR PLAZA RE

Ben G. Scott – Broker Krystal M. Nelson – NM QB 800-933-9698 5:00 a.m./10:00 p.m.

RANCH & FARM REAL ESTATE On the Pla We need listings on all types of ag properties large or small!

Donald Br

■ NEW LISTING! HEART OF CATTLE COUNTRY – Clayton, Qualifying B 505-507-29 NM area – 8,858.63 ac. +/- Deeded, 1,003.34 ac. +/- Leased 505-838-00 purchased acres, 160+/- ac. State Lease, watered by a large 116 Plaza spring, numerous wells & pipeline w/a large income stream from PO Box 19 CO2 production, new grasslands CRP program, wind lease & Socorro, NM 8 possibility of carbon sequestering income in addition to income www.socorroplaza from livestock production & hunting. dbrown@socorroplaz ■ NEW LISTING! CONSIDER TRADE FOR HOME IN THE AMARIILO, TEXAS AREA – Clayton, NM area – 80 acres deeded w/large, nice mobile home in good condition, secluded yet accessible in Harding Co., NM. As Low As ■ PRICE REDUCED! YESO EAST RANCH – De Baca Co., OPWKCAP 2 NM - Hwy. 60 frontage. 6,307± deeded, 1,556± State Lease INTEREST and 40± uncontrolled acres. Terrain is gently rolling with good RATES AS grass and is divided into three pastures. Wildlife includes antelope, some mule deer, quail, etc. The ranch has good improvements (including home) convenient access and has been well managed.

■ UNION CO., NM – Just out of Clayton, NM, 2 sections +/- located on pvmt. complete with two ½ mile +/- sprinklers & irrigation wells w/an addtl. large feedyard & one section of land irrigated by four ¼ mile sprinklers & irrigation wells. Two sections or the feedyard w/irrigated section can be purchased together or separately.

■ VAUGHAN RIVER RANCH – 11,628.76 ac. +/- deeded - a scenic, live water ranch on the Pecos River south of Ft. Sumner, New Mexico. Excellent example of a southwestern cattle ranch with wildlife to boot all within minutes of the convenience of town. Call us to take a look!

■ UNION CO., NM – This 1,966 +/- acre ranch located just south of Clayton, New Mexico is in some of the most soughtafter grazing land in the Continental U.S.A. The ranch will be excellent for a yearling operation, with high quality grass, good fences and water.

■ KB RANCH – Kenney Co., TX – KB Ranch is a low fenced 802 +/- acre property that is surrounded by large ranches. The ranch has abundant whitetail and is also populated with turkey, dove, quail, hogs and varmint species. Axis are in the area and have been occasionally seen. The ranch lies approximately 9 miles south of Bracketville on TX 131 and is accessed by all weather Standart Road.

■ COLFAX COUNTY NM GETAWAY – 1,482.90 ac.+/grassland (1,193.59 ac. +/- Deeded, 289.31 ac. State Lease), great location near all types of mountain recreation.

■ ANGUS, NM – 250 +/- acres with over a 1/2 mile of NM 48 frontage. Elevations from 6,800 to 7,200 feet. Two springs along a creek. Ideal for future development or build your own getaway home.

■ GREER CO., OK – Choice 480 ac. tract of choice farmland located just south & east Mangum, OK. Please call for details!

■ CLAYTON, NM – a 16.75 ac. RV park located approximately 2 mi. south of Clayton on the east side of Hwy. 87 with 34 RV spaces, water supplied from the City of Clayton, a domestic well to provide water for a pond on the property with an office and men’s and women’s restrooms and showers. 44 acres may be purchased adjoining this property for additional development.

AG LAND L

SOLD

O’NEILL LAND, llc P.O. Box 145, Cimarron, NM 87714 • 575/376-2341 • Fax: 575/376-2347 land@swranches.com • www.swranches.com

MAXWELL FARM, 140+/- deeded acres with 103.75 +/- irrigable acres of Class A water shares.

Property has a domestic water meter also utilized for livestock.

Currently a flood irrigation system but would suit installing a pivot. Property is bounded on the south with SHW 505 and the west with Rufuge Rd, on the east with the Maxwell Wildlife Refuge. $320,000

county road on rear of property as well. Presented “ASIS” New Survey, $4,000,000 $3,800,000 SPRINGER VIEW, 29.70 +/deeded acres. Large house being remodeled, shop, trees, old irrigation pond. All back off highway with great southern aspect. 311 Hwy 56, Colfax County. $209,000 $205,000

CONTRACT PENDING

ELM MIAMI DREAM, 14.70 +/deeded acres. Approx 1,583 sq ft 2 bedroom 1 bath home. Real country living with barn wood siding, porches, recent remodel for remote workspace. Irrigation and horse facilities, 57 Wampler St., Miami, NM $370,000 $345,000

BAR LAZY 7 RANCH, Colfax County, Moreno Valley 594.38 +/- deeded acres, accessed off blacktop between Eagle Nest and Angel Fire. Historic headquarters.

Currently used as summer grazing, pond and trees accessed off

MAXWELL, 408.90 +/- SACRAMENTO Deeded TO SALE S Acres. 143.05 Irrigable Acres/ HWY 4 Shares with TL pivotSTOCKTON covering J17 M approximately 80 acres, with balARIPO SA RD VALLEY H ance dry land. Property has one HWY 99 water meter used for livestock,HWY 120 ESCALON but could support a home SALEasMANTECA HEADQUARTERS well. There are two troughs located in the middle of the property. MODESTO Facility loc 25525 East Electricity for pivot is back toward Tree Road, the middle of the property as well. TO FRESNO Escalon, C Property has highway frontage on NM 505 and Highline Rd, a County Rd. Back up to Maxwell Wildlife area. Colfax County, NM.$599,000 FARMINGTON

521 West Second St. • Portales, NM 88130

10 Acres of commercial property, incredible highway visibility and access from either east or west directions on Hwy 60, 3 miles East of Garden Inn Truck Plaza and 4 miles west of Willow Springs.

Natural gas may be available on site. LOCATION PLUS! This property is well suited for many types of businesses (Restaurant, Retail, Motel, Business of any kind!) A MUST SEE PROPERTY.

SOLD #N

ESCALON LIVESTOCK MARKET, IN

LIVESTOCK SALES 3 days per week on

Page 8

Livestock Market Digest

The View FROM THE BACK SIDE

I

cannot think of anyone that has given more for this country than our first President and hero of the American Revolution, George Washington.

What he pulled off by crossing the Delaware River on Christmas night and defeating the Hessians in Trenton, New Jersey is still nothing short of a miracle.

That one surprise move by General Washington turned the tide of the war for the colonists.

Many books have been written on his selfless and numerous services to this country. However, I want to tell you about one very vital contribution that he made that did not have anything to do with his military service.

The fame he had gained from his military exploits did help him secure this deal.

One thing that was very important to Mr. Washington was his farm known as Mt. Vernon. After the war he sought to rebuild his farm which had been devastated by wartime inflation, scarcity of essentials, and crop failure during the eight years that he had been at war.

Because of it he was cash strapped and needed some help rebuilding his income.

Mr. Washington believed that the one thing that would help in a large way would be a good quality mule.

A good mule eats about a third less per day than a horse

Magnificent George! of the same size. He also requires much less water and can carry a light load about twenty four hours without it.

On average a team of horses could plow about 12 acres of ground in a day, but a team of mules could plow about 16 acres per day. While some donkeys had been imported to America back in the 1630s the quality of the mules produced in the colonies were very poor.

George Washington knew that the world’s best donkeys were in Spain and controlled

by King Charles III. He tried for four years to get in touch with King Charles III to no avail.

Finally, William Carmichael, the US Charge D’Affaires at the Spanish Court, let King Charles III know about Washington’s interest in the Spanish donkeys.

Thomas Jefferson who was then the US Foreign Minister to France stated, “The king was thrilled to order two of the very best to be procured and sent to General Washington as his mark of respect.”

King Charles III to ensure that at least one of them would get there in good health sent two Spanish Jacks separately.

Unfortunately, one of the jacks died on the voyage across the Atlantic. It took one month to get the remaining jack from the east coast

to Mt. Vernon.

After arriving at Mt. Vernon, the remaining jack named “Royal Gift” did not seem to have much interest in breeding. Mr. Washington’s overseer John Fairfax figured out that by bringing the jack two mares at once instead of just one, he got much more interested in doing his job.

General Washington put Royal Gift to use, by breeding him to his best mares. He also took on outside mares at the rate of 5 guineas per season.

Thus began the first serious breeding of good quality American mules in America.

For instance, according to General Washington’s own records in 1785, Mount Vernon had 132 horses for field work. By the time of Washington’s death in 1799, Mount Vernon had 63 mules and just 27 horses.

The farm had once again become profitable and farmers recognized the advantage of working mules. Mules continued growing in popularity among southern farmers at an amazing rate.

Pretty soon lumbermen, freighters, and miners started using the amazing mule as well.

Not only is George Washington the, “Father Of Our Country”, he is also the father of the, “American Mule.”

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April 15, 2024

Coast to Coast Rodeo and Animal Exhibitions Are Under Constant Attack SOURCE: PROTECT THE HARVEST

We have written about lawmakers who are promoting bills to shut down rodeo in New York by using falsehoods they are spoon fed from extremist groups. We have also written about the push to end rodeo and animal exhibitions in California. California’s long history with rodeo has very deep roots culturally. At Protect The Harvest we are continuing to investigate these attempts to end animal exhibitions.

Western Sports Industry Coalition The current proposed ban of rodeo and rodeo-like events in Los Angeles spurred a coalition organized and managed by our friends at Western Justice. This coalition of like-minded groups is much needed to combat the activities of animal and environmental extremist groups. We are a member of the coalition along with many powerful and influential organizations such as: Professional Bull Riders Association (PBR), Professional Rodeo Cowboys Association (PRCA), Bill Pickett Invitational Rodeo, the Union de Asociaciones de Charros del Estado California (Union of Charrros Associations of the state of California), Compton Cowboys, Indian National Finals Rodeo (INFR), American Quarter Horse Association (AQHA), Women’s Professional Rodeo Association (WPRA), National High School Rodeo Association (NHSRA), Pacific Coast Cutting Horse Association (PCCHA), Western Justice, and many more.

The Bigger Picture – All Animal Exhibitions Are Targeted Some readers may wonder why we are so concerned about a ban on rodeo. Much of it has to do with the loss of historical and cultural influences that helped to shape not only California, but much of America.

There is much more behind this proposed ban in Los Angeles than the concern for bulls and horses. The Los Angeles City Attorney was tasked to write an ordinance banning rodeo and “rodeo-like” events based on language used in a Pittsburgh ban which contains over-reaching and dangerous verbiage.

Specifically, the Pittsburgh ordinance reads: “635.04 No rodeo or rodeo related event shall be permitted in which animals are induced or encouraged to perform through the use of any practice or technique, or any chemical, mechanical, electrical or manual device that will cause, or is likely to cause physical injury, torment or suffering. The following devices are specifically prohibited at all events: electric prods or shocking devices, flank or bucking straps, wire tie-downs, and sharpened or fixed spurs or rowels.”

This language is extremely alarming and anyone who owns and competes with their animals should take notice. Since animal extremists believe any

ownership of animals is slavery and training an animal is abuse, this ordinance is open for interpretation on what they consider “torment or suffering.” Should this legislation move forward, all animal activities are at risk. You have an agility dog? No more agility. Dressage, show jumping, hunter/jumper, barrel racing, breed shows, reined cow horse, team penning, team sorting, lead-line classes, dog shows, field trials, hunting, police K9, schutzhund, cat shows, horse units in parades such as the Rose Parade, would fall under this language. Livestock shows, 4-H, and FFA exhibitions would also be included as well as educational exhibitions. Training is exactly what the Pittsburgh ordinance was attacking when they used the words “practice or technique.”

Ignorance Fuels Animosity – The Reality of Rodeo for Animals is MUCH Different Than Animal Extremists Would Have You Believe States like California, Rhode Island, and Nevada have passed laws that ban or tightly regulate rodeo events; and some city ordinances have followed suit like San Francisco and Irvine in California. Even the rodeo at NRG Stadium in Houston, Texas is consistently bombarded with protesters at their events.

Protesters even made the local news at one event. They claimed that as soon as the steers were done at the rodeo that they were shipped to slaughter, but the managing director of sports and events corrected the protesters by explaining: “Those trucks are taking them to property the rodeo owns about four miles away from NRG Park. There’s not enough room to house them at NRG Park, so they are brought in on trucks for their events and then returned. That whole facility is designed with this in mind,” she said. “It’s all about the livestock welfare and giving them a great space to graze and relax.”

Of course, this narrative is NOT what animal extremists want to hear, so they supply lawmakers, city council members, and the general public with falsehoods to promote their agenda. Some of these falsehoods are so outrageous that if one takes the time to think about it, one will just shake their head in disbelief.

Some falsehoods perpetuated by animal extremists are: False Statement: Flank straps are tightened severely and wrapped around the genitalia of the bucking animal to make them buck.

There is no logic to this statement. Anything tightened around the waist or genitalia tightly as animal extremists claim would cause pain. Therefore, it would cause the opposite reaction, no animal would move because moving would hurt them. In regards to horses, many of the very best bucking horses are mares, therefore there is no genitalia to wrap around.

Flank straps are a tool that signals the animal that it’s time to buck. They are not tightened any more than you’d tighten the belt on your pants. For bull rid-

April 15, 2024 ing, the flank strap is a soft 5/8” cotton rope and in the bareback and saddle bronc events, the flank strap is lined with fleece or neoprene.

False Statement: Bucking bulls and horses are tame animals that must be provoked into battle and forced to perform over and over.

Bulls and broncs are bred for competition and genetics are the main factor in determining an animal’s desire and ability to buck. In fact, the American Bucking Bull is now a recognized breed of cattle.

Bucking animals work for literally a few minutes in a year. A qualified ride is 8 seconds, and in a weekend event, they are ridden twice.

False Statement: Rodeo animals travel constantly, in cramped, double-deck trailers, which are inadequately ventilated, and animals are fed and watered sporadically.

Animal welfare is the top priority and there are strict travel regulations and accommodations which include length of travel, required layovers, types of trailers and bedding required.

Livestock Market Digest done with rodeo, are retired to sire the next generations of bucking bulls. Many bucking bulls are worth between $10,000 to over $500,000, with their value increasing as they produce quality bucking offspring. The top bull, Bushwacker once had an offer made to his owner for $1,000,000. The champion bucking horse Nightjacket was sold for $200,000. It is clear that with stock this valuable, they will be well cared for.

Taking Advantage of Lawmakers Lack of Practical Experience Most of the legislation and ordinances against rodeo have been drafted based on the lawmaker’s animal extremist tendencies or with heavy influence and input from animal extremist groups. Many lawmakers are not from rural areas. Most have never even taken the opportunity to meet the competitors, stock contractors, or the animals themselves. These groups claim there is a very high injury rate in rodeo animals, when the opposite is true. The Profession-

few more. One of those, is the Escaramuza. These women ride side saddle, perform solo with sliding stops. They also perform a refined and perfectly timed drill in groups of ten. As any horse enthusiast knows, riding is a team effort and the horse only does what it wants to do.

To see the Escaramuza is like watching an intricate synchronized dance.

Black Cowboys Most are not aware of the rich American history of black cowboys, cattle ranching and settling the west. These cowboys were experts at managing livestock and training horses. In particular they were invaluable to the Texas cattle industry in the post-Civil War era. These cowboys made their way north into Colorado, Kansas, Missouri, and then eventually west to California.

Sharing Our Heritage Although the ranching industry in the United States is still providing for our citizens and the rest of the world, with the

False Statement:

Spurs cut the hide of the bulls and horses Spurs are required to be dull all points of the rowel must be filed to be dull. In addition, in the saddle bronc and bareback events, the rowel must be unlocked. It must roll freely. In bull riding, the rowel may be loosely locked.

This allows the rider’s spur to grip the loose hide of the bull to stay on for the required 8 seconds. An important note to point out- human skin is about 1-2mm thick. By contrast, horse hide is 5mm and bull hide is 7mm thick, so there is no way for the spur to cut the skin.

False Statement: Cattle prods cause electrical burns Prods were developed by cattle industry experts to safely move cattle. They are considered by veterinarians and cattlemen to be one of the most humane methods to move cattle on a ranch, or in veterinary settings. Cattle prods run on D cell batteries and produce volts, not amperage. It is amperage that causes burns. Volts give the shock sensation, a tingly effect.

If you have ever had physical therapy accompanied by electrical stimulation from a battery-powered transcutaneous electrical nerve stimulation (or TENS unit), that is voltage that provides pain relief and speeds up healing.

False Statement: Rodeo animals are worked hard and seen as being expendable and have short lives. After a rodeo, they are gathered up and sent to slaughter.

This myth will raise the hackles of ANY horse or cattle person as the truth is quite the opposite. Championship bucking stock is expensive and has been bred from the very best bucking lines. Many bucking bulls, once

Page 9 skills across the country, bringing our rich history and culture to cities and towns across America. These cowboys and cowgirls compete and often use those same skills while ranching and training horses when they are not on the road.

Union de Asociaciones de Charros del Estado California and Bill Pickett Invitational Rodeo (first Black inductee into the Rodeo Hall of Fame) are two groups who would be adversely affected by a ban on rodeo and animal exhibitions.

Compton Junior Posse Would Suffer from a Ban on Rodeo and Animal Exhibitions The Compton Jr. Posse, a nonprofit organization founded by Mayisha Akbar in Richland Farms, a semirural area in Compton, has been home to many Black horse riders since the mid-20th century. The Compton Jr. Posse has helped many inner-city kids avoid the pitfalls of gangs and instead, become role models for other kids.

Ten of these former Jr. Posse members formed a group called the Compton Cowboys, who are breaking into the western rodeo circuit. Their m o t t o “Streets raised us.

Horses saved Us.”

What You Can Do to Save Rodeo

al Rodeo Cowboys Association has a 99.9 % safety rating in the sport of rodeo, making it safer to be a rodeo animal than a person driving a car.

Animal Extremist groups via nefarious fundraising tactics have amassed huge bank accounts. This means they have unlimited funds to market and lobby their ideology via city and county ordinances, regulations and state laws. They believe that no animals should be in human care and view animal ownership as slavery and therefore abuse.

Due to this ideology, they do not care whether their agenda affects humans or animals. Animal extremist groups do not care about the proud multi-cultural history of rodeo in California either.

The Rich Cultural History of California Rodeo It should come as no surprise that Los Angeles is home to the largest Hispanic population in the country. Descended from the Charros and Vaqueros who helped settle the west, there is huge cultural and historical pride in their sport of Charreria.

Our modern rodeo has its roots first in Spain, Mexico, then Texas and California.

Charreria offers all the contests that are in rodeo plus a

advent of the railroad, the need for the cowboy has diminished from the early years of settling the West. Some found a new way to earn a living, still doing what they do best, but as entertainment for the public and a way to share our heritage instead. To this day, cowboys and cowgirls are demonstrating their

cost to animal welfare or the damage it does to unique cultures within our country.

We have joined with the Western Sports Industry Coalition to help further address the fallacies perpetuated by animal extremists and the undue influence they have on lawmakers.

Our coalition has a very strong voice, representing millions of animal owners and rodeo and animal exhibition enthusiasts.

Sign the Petition and Donate to the Western Sports Industry Coalition You can help save rodeo, bull riding, charreria and other animal exhibitions by going to https://www.westernjustice.info/ saverodeo and sign the petition.

You can make a donation on the Western Justice website as well.

Do not make a donation on the petition itself as it does not go to the Western Sports Industry Coalition – it goes to Change. org.

There is information and an outline of a letter to help you cover all the basics which you can read before signing.

Public Comments Are Critical More importantly, visit https://cityclerk.lacity.org/ publiccomment/?cfnumber=20-1575 and make a public comment.

We ask, as do all members of the coalition, that you keep your comments respectful. Please present factual information and avoid the histrionics that animal extremists like to use.

We cannot sit silent and let these groups manipulate the general public into believing their false narrative. We must protect animal ownership, animal exhibitions, our rich American culture and history.

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Animal extremist groups who push to ban rodeo and animal exhibitions claim the sport as cruelty to animals. They believe the animals are being exploited and that is against the “animal’s rights.” They do not care that the animals are well cared for and are doing the job they were bred to do. Their aim is to stop the use of all animals in any manner, no matter the

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Page 10

Livestock Market Digest

's Collector o r n e r

Ten Guiding Principles of Collecting What should we be looking for when it comes to purchasing collectibles?

W

ell — buy what appeals to you!

Buy what you like. Buy what speaks to your heart. If you are collecting with the intent that eventually, it is also an investment, then it may behoove you to become more educated about what you are buying — and buy the best you can! Read on.

“Collectible” means different things to different people.

There are many “collectors” out there, but at the end of the day, most of their collections would not sell for much if the collection suddenly needed to be sold.That is fine—if you are collecting for the sake of collecting. Reminds me of the old story of the guy who collected leaves, he really thought he was raking it in!

People often say the main difference between a collector and a hoarder is a matter of discrimination. There’s a lot of truth in that! An advanced collector always looks to buy the best that they can. But remember, everyone has to start somewhere.

While in the early stages of building a collection, collectors seem to focus on volume.

This isn’t necessarily a bad idea. It can actually be a great way to learn more about what they’re collecting. Talking about learning, it’s smart to find out as much as you can about what you’re collecting.

Talk with reputable dealers, meet other collectors, join clubs if you can, and read lots of books. It’s smarter to use $100 to buy books on your

collection topic (and really read them) than it is to spend that same $100 on a single item, not knowing what you are doing. When you’re ready to buy, always aim for the best quality within your budget range.

“I believe that everyone collects. I think collecting is in our blood as humans,” – Lynda Resnick, entrepreneur.

Keep in mind, there is more to collecting than just buying items. It’s also about learning, the thrill of the hunt while searching for treasures, that warm feeling of satisfaction when you find something special, the camaraderie with other collectors and, if you’ve collected well, you may even get some monetary reward from your collection later on if you decide to sell.

Here are 10 basics to remember while collecting: 1. Start small and collect what you like. As you progress, your tastes and knowledge will evolve and refine.

2. Quality is important.

3. Things made to be collectible—rarely are. This includes pretty much all kinds of commemorative and mass produced items.

4. 4) If your “collectible” says “Made in China” or “Made in Taiwan” on it — it’s not a collectible. It is a decor item, or even a cheap knock-off.

5. There is a difference between collectibles and decor.

Decor is rarely collectible,

Beneficial Ownership Information Report SOURCE: BUDD-FALEN LAW OFFICES

O

n January 1, 2024, a new reporting requirement went into effect for most U.S. and foreign entities under the Corporate Transparency Act. 31 U.S.C. § 5336 et seq.

These entities are now required to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).

If you are the owner or manager of a business entity, we encourage you to read the following information to determine if you are required to file a Ben-

but collectibles can sometimes make great decor.

6. Things that have survived a long period of time and remain in good condition are generally sought after.

7. Condition is usually a big factor of value. Restoration is generally not desirable in most cases.

8. Rarity (or uniqueness) is also a big factor of value.

Things whereby only a few have survived the test of time, or items that stand apart are generally sought after.

9. Things do not have to be old to be collectible.

Contemporary art by wellknown artists is a prime example. Beware of fads however.

10.

Always deal with knowledgeable and reputable sellers who will stand behind what they sell. Do this until you know enough yourself and are okay with taking a risk, even if it might not work out.

“The collector attempts always to acquire the best, and his knowledge of what is best is always widening. His is the task of judging between degrees of perfection,” – Arthur Davison Ficke (1883–1945), American poet and collector.

The main reason to collect is for the fun of it. The most valuable thing you’ll end up collecting isn’t items — but memories. And the memories are priceless!

April 15, 2024

IT’S THEIRS NOW.’ Border Agents Concede NM Mountain to Cartel Control

BY PIÑON POST

A

video posted by reliable Fox News reporter Matt Finn shows illegal immigrants ravaging a mountain in Sunland Park, New Mexico, while Border Patrol agents apparently won’t defend it, calling the mountain the Cartel’s.

Finn wrote in the video post, “Unbelievable. A Border Patrol agent in Sunland Park, New Mexico just told us a mountain in the United States is ‘not ours’ anymore. ‘It’s theirs.’ Referring to Cartels. We literally spent five minutes on Mt. Cristo Rey and a group of illegals breezed by.”

Mt. Cristo Rey is adorned by a 29-foot-tall statue of Jesus, which was erected in 1940 after the vision of Fr. Lourdes Costa “ who in 1933 after looking out the back window of his residence in the community of Smeltertown, envisioned erecting a monument at the summit of this glorious mountain.”

Since the purchase of the mountain and the building of the Jesus statue, Mt. Cristo Rey has become a holy place for Catholics for generations.

But the criminal illegal immigration seeping across the border by way of the mountain has led to vandalism and desecration. Vandalism and gang-related graffiti have scourged the holy place.

Ruben Escandon Jr., vice president and spokesman for the Mount Cristo Rey Restoration Committee, told KFOX 14, “I continuously question why they were not going to put up a fence on the Southside directly behind the monument and their answer was the terrain was too treacherous.”

“The price tag to fix damages and restore Mt. Cristo Rey is between $15,000 to $20,000, according to Escandon.

The restoration committee depends heavily on donations, which are often collected during the annual pilgrimages done in October,” the outlet reported.

The illegal immigration scourge, which amped up again after Joe Biden was inaugurated in 2021, has gotten to its worst peak in the history of the country. States like Texas have done their part to stem the flow into their state, but with the robust actions in Texas, illegal immigrants are now flowing through New Mexico, with Border Patrol apparently not able to stem the illegal flow on Mt. Cristo Rey.

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eficial Ownership Information Report. We have also included a list of information that you need to have to file the paperwork if you are required to file a Beneficial Ownership Information Report.

We are providing this update to give a brief overview of the new requirements as there are civil and criminal penalties for non-compliance. This update is being provided for informational purposes only. Please contact your own attorneys and accountants for detailed information on your own situation.

This is not a comprehensive review of the new requirements, nor is it intended to be legal advice regarding your specific situation. Additional information can be found on the FinCEN website, Beneficial Ownership Information Reporting | FinCEN.gov. Also, the Small Entity Compliance Guide, Small Entity Compliance Guide | FinCEN.gov, contains further details.

Please be aware that you are responsible for determining if you have an entity that must comply with these new filing requirements under the Corporate Transparency Act and making any necessary filing within the required deadlines. Our firm is not responsible for determining your filing obligations or preparing any documents for filing unless we are specifically directed or retained to do so by you.

Should you have any ques-

tions, do not hesitate to contact our office.

Who must file a Beneficial Ownership Information Report?

Many foreign and domestic entities that do not qualify for an exemption must file a Beneficial Ownership Information Report (BOIR) (these entities are referred to as a “reporting company”). For domestic companies, this includes corporations, limited liability companies, limited liability partnerships, limited liability limited partnerships, business trusts, limited partnerships, and any other entity that is created by filing a document with a secretary of state or similar office under the law of any state or Indian tribe.

For foreign companies, this includes the business entities above and any other entity formed under the laws of a foreign country and is registered to do business in any state by filing a document with a secretary of state or similar office under the law of any state or Indian tribe.

The reporting requirements do not apply to other types of legal entities, such as certain trusts, that are not created by filing a document with a secretary of state or similar office.

Who qualifies for an exemption?

There are twenty-three specific types of entities that may qualify for an exemption from these reporting requirements

such as financial institutions, accounting firms, companies dealing with investments and securities, insurance companies, tax-exempt entities, inactive entities, and others. To qualify for an exemption, an entity must meet the requirements detailed

by FinCEN.

Who are beneficial owners to be included in a BOIR? All individuals that directly or indirectly exercise substantial control over a reporting company or who own or control 25 percent or more of the ownership interest of the reporting company are considered beneficial owners and must be included in the BOIR. A person can be considered to be exercising substantial control in a number of ways such as acting as a senior officer of a company, having the power to appoint or remove senior officers, having the authority to make important business, financial, or structural decisions, or any other form of substantial control. Ownership interests can include equity, stock, or voting rights; capital or profit interests; convertible instruments; an option or privilege to buy or sell the foregoing interests; or any other method used to establish ownership.

There are limited exceptions that may apply to individuals that qualify as beneficial owners defined above such as minors, agents, employees, inheritors, or creditors. For an exception to apply, the person must meet

April 15, 2024

Livestock Market Digest

2024 Debruycker Charolais Bull Sale Results

Farm Bill Slide

BY GARRETT DOWNS / POLITICO WEEKLY AGRICULTURE

HIGH SELLING BULLS Lot Sire 52 $41,000 124 $20,000 185 $18,000 295 $17,000 101 $16,000 195 $15,500 239 $15,000 127 $15,000

Stars & Stripes Synd Kerry Clift Wade Beck BK Charolais Brandon Beutler Robert Stotts Mike Roster Sparrow Ranch

College Station, TX DC/BHD MASTER E2537 P/S Ellensburg, WA DC/CRJ ROOSTER H3118 P Lang, Sask DC INCUBUS J2231 P Choteau, MT DC/BHD SHAZAM G3220 PET Eureka, SD DC/JDJ TITAN H129 P Hennessey, OK DC/CRJ VISION G30 P Spencer, SD DC/BHD HELEUS G58 P/S Vanscoy, SK DC/CRJ ROOSTER H3118 P

VOLUME BUYERS 90 Bulls 64 Bulls 32 Bulls 15 Bulls 15 Bulls 15 Bulls 14 Bulls 13 Bulls

Lavaca Cattle Ranch Wellman, Ranch Ensign Ranches Howard Wehrman John Hagenbarth Robert McMurry Larry Otley Robert Stotts

BULLS SOLD TO 22 STATES, & CANADA AL, AR, AZ, CO, IA, ID, IN, KS, KY, MO, MS, MT, NM, NV, OK, OR, SD, TX, UT, WA, WV, WY, & CANADA 81 Long Yearling Bulls @ $6,867.28 486 Yearling Bulls @ $5,793.21 Overall @ 567 Bulls @ $5,946.65

TOP SELLING SIRE GROUPS 7

DC/MD SHARKSON H1359 @ $9,071.43 16 DC/CRJ ROOSTER H3118 P @ $8,890.63 6 DC/JDJ LINCOLN J217 P @ $8,125.00 8 DC/CRJ VISION G30 P @ $8,125.00 1 DC/BHD MASTER E2537 @ $7,937.50 8 DC/BHD HELEUS G58 P/S @ $7,843.75 8 DC INCUBUS J2231 P @ $7,718.75 13 DC/JDJ TITAN H129 P @ $7,230.77 18 DC/CRJ TANK E108 P @ $6,833.33 21 DC/BHD SHAZAM G3220 @ $6,737.50 40 DC/CJC SUGAR DADDY G1118 P @ $6,650.00

all of the criteria outlined by the FinCEN. In addition to beneficial owners, a company may also need to report their company applicants as part of their BOIR. Domestic reporting companies created on or after January 1, 2024 and foreign reporting companies first registered to do business in the United States on or after January 1, 2024 must report their company applicants. Those domestic and foreign reporting companies created or registered before January 1, 2024 are not required to report their company applicants.

Who is the Company Applicant?

“Company applicant” includes the person that actually filed the paperwork to create the reporting company, or, if applicable, the person primarily responsible for causing the paperwork to create the reporting company to be filed. Reporting companies that must report their company applicants must identify at least one, and no more than two, company applicants – both of which must be individuals. The reporting company must always identify the direct filer of the documents that created a domestic reporting company or registered the foreign reporting company. This is the person who actually filed the documents. In addition to the direct filer, if applicable, a company must also identify the person primarily responsible

7

DC/CJC SYMBOLS FURY H962 P @ $6,428.57 13 DC/CJC ATOMIC G966 @ $6,340.91 34 DC/BHD METABOSS E899 P @ $6,330.65 10 DC/JDJ MARS G1241 P TW @ $6,175.00 12 DC/BHD METABOSS E899 P @ $5,020.83 16 DC/BHD ZORRO E2526 P/S ET @ $5,883.33 14 DC/BHD FLASH ET @ $5,812.50 17 DC/BHD BUGATTI E2533 PET @ $5812.50

for directing or controlling the filing of the documents even though they did not actually file the documents.

An example of when there would be two company applicants is when the manager of a company hires an attorney to file the company’s paperwork with the secretary of state. The attorney who files the paperwork would be the direct filer and the manager would be the person directing the filing and both would need to be reported. If the manager filed the paperwork on their own, only they would be reported as the direct filer.

When is the Beneficial Ownership Information Report due?

Companies created or registered prior to January 1, 2024 must file their initial BOIR by January 1, 2025. Companies first created or registered on or after January 1, 2024 and before January 1, 2025, must file their initial BOIR within 90 calendar days of the effective date of the creation or registration. Companies created or registered on or after January 1, 2025 must file their initial BOIR within 30 calendar days of the effective date of the creation or registration.

After filing an initial BOIR, companies must report any change to information about the company or its beneficial owners within 30 days of the date the change occurred.

Page 11

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I

n early April, Iowa Republican Senator Chuck Grassley suggested that Senate Majority Leader Chuck Schumer could make the Farm Bill a top priority “to do between now and the summer,” but warned such a move is “not likely to happen.”

Schumer appeared to tip his hand soon after by making no mention of the Farm Bill in a “dear colleague” letter laying out the Senate’s top priorities for the weeks and months ahead.

According to Schumer, the upper chamber will take action on “bipartisan bills that enhance our national security, advance online safety for kids and promote innovation, expand the Child Tax Credit, work on a path forward on Tik Tok legislation, combat the fentanyl crisis, hold failed bank executives accountable, address rail safety, ensure internet affordability, safeguard cannabis banking, outcompete the Chinese government, lower the cost of prescription drugs like insulin while expanding access to health care, and more.”

Conspicuously absent was any mention of the Farm Bill.

What’s the holdup?

In short, the Farm Bill has repeatedly been pushed to the backburner as Congress has struggled to function smoothly.

Government funding talks dragged on for six extra months, the House was derailed for weeks after it deposed its Speaker and Congress has given greater priority to other stalled legislation, like foreign aid bills to help Ukraine repel Russia’s invasion and replenish military aid for Israel.

The Farm Bill, meanwhile, has not been considered at the committee level despite a marathon of hearings in both the House and Senate. Behind the delay is a drawn-out funding battle. The Farm Bill’s budget is flat — meaning there is no additional money at the committee’s disposal.

To add additional funds, lawmakers are hoping to roll about $15 billion worth of Inflation Reduction Act funding for climate-smart agriculture into the farm bill baseline, making it permanent and removing the deadlines for spending it. But Republicans want to loosen climate-smart restrictions on the money, allowing it to be used for a broader set of practices. In the House, Republicans want to reallocate some of the funds to the farm safety net programs that assist farmers in the event of an economic downturn.

Democrats so far have rebuffed both proposals, insisting that climate-related guardrails on the IRA funds must remain intact. That’s left both sides in a stalemate that shows no sign of resolving anytime soon.

The current extension to the 2018 farm bill will expire on September 30.

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Companies must also correct an error in a BOIR within 30 days of discovery of the error.

What are the consequences of noncompliance?

Willfully failing to file a complete or updated BOIR on time or willfully providing false or fraudulent information may result in civil penalties of up to $500 per day or criminal penalties of up to two years imprisonment and/or a fine up to $10,000. These penalties could be applied to senior officers of an entity that does not file its BOIR or a person who willfully causes an entity to not file or to file an incomplete or false BOIR.

What information is needed to complete the BOIR? To make the required filings on the FinCEN website, you will need the following information:

■■ Full Legal Name of the Entity

■■ Any Trade of “Doing ■■ ■■ ■■ ■■

Business As” (DBA) Name Full and Complete Address and Principal Place of Business: Jurisdiction (State) of Entity Formation Secretary of State Entity ID Number IRS Taxpayer Identification number (EIN) or Employee Social Security Number if there is no separate business EIN

■■ Applicant Name ■■ Date of Birth ■■ Address ■■ Driver’s License or ■■ ■■ ■■ ■■ ■■

Passport Number, Issuing State and Expiration Date Phone Number Email Address Name of Beneficial Owner(s) Date of Birth Address

■■ Driver’s License or ■■ ■■ ■■

Passport Number, Issuing State and Expiration Date Expiration Date Phone Number Email Address

As stated above, additional information can be found on the FinCEN website, Beneficial Ownership Information Reporting | FinCEN. gov. The FinCEN has also prepared a Small Entity Compliance Guide, Small Entity Compliance Guide | FinCEN.gov, that contains further details.

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Page 12

Livestock Market Digest

FED REPORTS cont. from pg. 6 grow for another two to three years.

When the Fed returns to profitability, the Net Income will be used to reduce the Deferred Asset Account. Only when the account turns positive will remittances to the Treasury resume.

Based on the Fed’s projections, this will not occur until 2029, at the earliest. As a result, the Treasury will be without the Fed’s contribution for at least six years, and will have to make up for this loss of income. This cost is ultimately paid for by the taxpayers.

Unrealized Portfolio Losses In addition to the Fed’s operating losses, they are also carrying a large unrealized loss in their SOMA portfolio.

The Fed uses another lenient accounting procedure in how they handle the securities in their SOMA portfolio. Bonds are carried at Amortized Cost on the Fed’s balance sheet. However, since interest rates are significantly higher now than when the Fed purchased the majority of their SOMA holdings, the Market Value of the SOMA

portfolio is much lower than cost.

As of December 31, 2023, the unrealized loss of the SOMA portfolio is $948.4 billion. The unrealized loss only appears in a footnote of the financial statements.

This is actually an improvement, though, from the end of 3Q23, as the yield on the 10year Treasury Note fell by 70 basis points during the fourth quarter. However, the unrealized loss on the portfolio is still 13% of the purchase price.

With the yield of the 10-year Treasury Note rising 35 basis points since year end, the current unrealized loss is a bit bigger.

Implications The Fed’s operating losses and unrealized SOMA losses are large and growing.

The fact that the Fed uses favorable accounting treatment to minimize the severity of the losses does not mean that they have not caused significant financial deterioration to the Fed. The Fed states that “While the rising interest rates have ancillary effects for the Federal Reserve’s income and the unrealized position of the SOMA portfolio, none of

these effects impair the Fed’s ability to conduct monetary policy or to fulfill an of its other responsibilities.”

While this may be true in the short run, the longer-term impact is not clear.

Impact on Fiscal Budget -

For the first time ever, the Fed will not make a remittance to the Treasury for 2023. Over the previous twenty years, the Fed has made a remittance which averaged $63 billion per year. This is lost revenue to the Treasury and must be made up. If the Treasury doesn’t replace the Fed’s annual remittance, then the deficit will grow, which must be financed by the Treasury, which adds an additional expense to the government. A loss of $63 billion in revenue to the Treasury, funded at the one-year Treasury Bill rate of 5.0%, would cost the government an extra $3.2 billion per year. This cost accrues to the taxpayers.

Funding The Deferred Asset Is Inflationary – When the

Fed creates the Deferred Asset Account, it is increasing the asset side of its balance sheet, and consequently there must be an offsetting entry on the liability side of the balance

Value In Western Livestock Industry!

April 15, 2024

sheet. The offset is an increase in Bank Reserves. This transaction is identical to when the Fed was implementing Quantitative Easing (QE) through the purchase of Treasury Bonds and MBS. They created new Bank Reserves to buy the bonds.

As in executing QE, this transaction of funding the Deferred Asset through the creation of Bank Reserves is an easing of monetary policy, which is viewed as inflationary.

Such a move is contrary to the current Fed Policy of Quantitative Tightening.

There Is An Additional Interest Expense To Funding the Deferred Asset – The Deferred

Asset earns no income, yet the Fed must pay interest on the Bank Reserves that are created to fund the Deferred Asset.

With a current Deferred Asset of $157.9 billion, the cost of funding at the current rate of 5.33 precent adds $8.4 billion to the Fed’s interest expense annualized. This figure will only grow as the Deferred Asset increases with the continuance of the weekly operating losses.

To put this extra interest expense of $8.4 billion in perspective, the entire operating budget of the Fed and its 24,000 employees is $9.2 billion, including salaries, real estate expenses, pension costs, etc. The extra cost of funding the deferred asset is equal to almost doubling the operating costs of the Fed. Additionally, the extra interest expense causes the Fed’s operating loss to be larger and the Deferred Asset to increase.

Political Cost – While the Fed may say that their operating losses are not significant, the eyes of Congress may not view it the same way. There are many in Congress who are not happy with the way the Fed has handled monetary policy, and more public awareness may rattle those in the legislature. As congress grapples with the difficult issues of the fiscal deficit and long-term budgets, the added costs of the Fed’s policies and their huge operating losses will not sit well.

There have already been some rumblings.

In July 2023 Senator Rick Scott of Florida wrote an editorial railing on Fed Chairman Jay Powell for his lack of accountability for growing the Fed’s Balance Sheet to $8.3 trillion and losing $1 trillion of taxpayer’s money. The recently reported -$114.3 billion operating loss will only add further scrutiny to the Fed. Loss of Independence and Credibility – Two key ele-

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ments for a central bank to be effective in achieving their mandates are Independence and Credibility.

In order to be independent a central bank must be perceived as strong. Adequate capital supports independence and profitability gives the central bank the ability to be self-reliant. Both allow the central bank to conduct its operations without interference from politics. Monetary policy aimed at price stabil-

ity and financial stability is deemed too important to be part of the trade-offs that concern the short-term financial interests of government.

Conversely, unexpected losses show weakness. As this weakness becomes more public it draws attention to the central bank and reduces the level of support.

As mentioned above, there already is scrutiny in congress about increasing oversight of the Fed. Adequate capital also supports the credibility of a central bank. In order to carry out their responsibilities as a monetary authority the public must have confidence in the institution. The need for credibility is particularly heightened during periods of financial stress. A central bank that is independent of the government needs to be perceived as being able to deploy the necessary strength to address the problems.

Together, independence and credibility are critical elements for the central bank’s effectiveness. Once independence and credibility are lost, it is difficult for the Fed to operate effectively.

Caveat To Research About Central Bank Losses – There

is much research on central banks that supports the premise that a central bank can operate with losses. One of the leading experts, Peter Stella, former Head of Central Banking for the IMF, wrote “Central Bank Financial Strength, Transparency, and Policy Credibility” here.

There is one caveat, however, in Stella’s opinion. That caveat is, “unless the losses are large.”

While there is no definition of “large’” it is worth stating that we may be getting there.

In three years, the deferred asset could reach $300 billion, which is seven times the Fed’s capital, with the real possibility it could grow larger. In addition, the Fed is carrying an unrealized loss of $1 trillion on its balance sheet.

The unrealized losses can reach $1.5 trillion, or even $2 trillion, under certain circumstances.

At some point the operating losses and unrealized losses become a problem.

The Fed has been losing money on an operating basis for almost six consecutive quarters, and these losses will continue for the foreseeable future.

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