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Business Briefs - January 16, 2019
 

Two Farm Bureaus earn national award for community dinners

INDIANAPOLIS, Ind. — Indiana’s Benton County and Wayne County Farm Bureaus were selected by the American Farm Bureau Federation as two of last year’s County Activities of Excellence (CAE) Awards program winners. Both counties won for their farm-to-fork style community dinners, with a twist.

Benton County was awarded for its inaugural Farm to Fork community dinner and fundraiser. It raised $6,500 for the Fowler Theater, which is run by volunteers, and has since hosted its second Farm to Fork, bringing in $10,000 for the community food and service co-op, with $12,000 in sponsorships.

Wayne County Farm Bureau was awarded for its Summer Harvest Supper, a farm-to-fork style dinner for leaders and influencers in the community. The goal of the event was to create a relaxed forum for open, honest communication about food and farming.

2018 was Wayne County’s second year hosting the event, which was started in an effort to address misinformation in the community about agriculture. It invited local farmers and agribusiness professionals to rotate from table to table to speak and answer any questions attendees had. The feedback Wayne County Farm Bureau leaders received has reinforced their decision to hold such an event.

These Farm Bureaus competed against others across the country for the annual award. They join 24 other county winners from seven other states and will be recognized and exhibit their programs during AFBF’s 100th Annual Convention and IDEAg Trade Show Jan. 11-16 in New Orleans. Winning counties received a $2,250 stipend to apply toward the cost of travel and exhibition.

Indiana poultry producers donate 75 tons of food to hungry

(photo in 6443)

INDIANAPOLIS, Ind. — More than 75 tons, or 150,000 pounds, of poultry products were donated to families in need ahead of the holiday season, announced by the Indiana State Poultry Assoc. (ISPA).

Gov. Eric Holcomb and Indiana State Department of Agriculture Director Bruce Kettler recognized the generosity of these producers at the ISPA’s 71st annual poultry donation on Nov. 19. Some of the main products that were donated this time include eggs, chicken, duck and turkey; in fact, more than 600,000 eggs were donated.

The strength of Indiana’s poultry sector was also recognized during the ceremony, as one of the top poultry-producing states in the nation. According to the USDA, Indiana ranks No. 1 in duck production, No. 2 in egg production and No. 3 in turkeys raised. Annually, the poultry sector contributes more than $9.5 billion to the state’s economy and accounts for more than 11,000 Hoosier jobs.

Products displayed during the annual poultry donation were donated to Gleaners Food Bank of Indiana.

ISPA EXECUTIVE VP Paul Brennan (right) and Indiana Gov. Eric Holcomb display one of the turkeys state poultry producers donated to needy families.

(Courtesy of ISDA)

Illinois farmers donate ground pork to Indiana recipients

INDIANAPOLIS, Ind. — Thanks to a recent win by the Purdue University football team, Hoosiers in need had ground pork available to them this holiday season.

Indiana Pork and Illinois Pork Producers partnered for the "Pork Power Challenge" during the recent Purdue vs. University of Illinois football game. They placed a $1,000 bet on the outcome; if the U of I won, Indiana Pork would have donated $1,000 for ground pork to a food bank in Illinois. But since Purdue won, Illinois Pork had to donate $1,000 to a food bank in Indiana.

The donation was made to Food Finders Food Bank in Lafayette. Food Finders worked with Lafayette-based Beutler Meats Processing to process and package the ground pork. Protein remains one of the top items Food Finders’ clients request for their families, and donations like this help to save the food bank money and go a long way toward offering nutritious foods to the families served.

Indiana farmers donate food and freezers to Habitat families

INDIANAPOLIS, Ind. — Indiana’s Family of Farmers (IFoF) partnered with Greater Indy Habitat for Humanity again to donate a freezer and local meat and vegetable products to the two families who participated in the ninth annual Ag Build at the 2018 Indiana State Fair.

The new homeowners are Karen Leachman and Mansa Samlafo. With the families settling into their new homes, IFoF purchased a new freezer for each family and filled each with local pork, beef, lamb and poultry products. In total, each family received approximately $350 worth of donated food items.

IFoF purchased $500 worth of local foods, which was distributed to the families. IFoF’s contribution was bolstered by a more than $200 in-kind contribution from seven farm organizations: 2Morrow's Farm, Becker Farms, Berry Goods Farm LLC, Engleking’s Country Beef Shop, Souder Farms Sweet Corn LLC, The Pork Shoppe and Well Done Beef LLC. Special thanks goes to Hoosier Harvest Market for coordinating the farmers’ contributions.

Fund awards $385K to improve access to healthy food

DETROIT, Mich. (AP) — The Michigan Good Food Fund has awarded $385,000 to 13 food services companies and organizations as part of an initiative to increase access to healthy food and spark economic development and job creation.

The Catalytic Investment Awards are used for a variety of purposes, including infrastructure investments, capital expenditures and pre-development work. Michigan Good Food Fund spokeswoman Olivia Rebanal said the awards “are fueling the growth of a more equitable Michigan food system from farm to fork.”

Those receiving funding include the Detroit Black Community Food Security Network, the Allen Neighborhood Center in Lansing and Flint-based Babylon Enterprises, which operates a grocery store.

The Michigan Good Food Fund is a $30 million public-private partnership loan fund that provides financing and business assistance to good food enterprises that benefit underserved communities.

Tennessee corn producers increasing promotion of crop

NASHVILLE, Tenn. (AP) — Tennessee's corn producers have agreed to raise money to help increase the consumption and sale of corn grown in the state.

State agriculture officials said corn farmers and landowners have voted to add an assessment of 1 cent per bushel of corn sold. Officials said the checkoff will be used to finance a program of research, education, market development and advertising “to promote the increased production, consumption, use and sale of Tennessee corn products.”

Corn producers cast ballots at extension offices. Officials said 64 percent of those who voted supported the measure. Agriculture Commissioner Jai Templeton had authorized the referendum at the request of the Tennessee Corn Growers Assoc.; assessments are set to begin in March.

Indigo Ag establishing headquarters in downtown Memphis

MEMPHIS, Tenn. (AP) — Agriculture technology company Indigo Ag, Inc. said it is moving its North American headquarters to Memphis.

Indigo Ag CEO David Perry and Tennessee Gov. Bill Haslam said the fast-growing startup plans to invest about $6.6 million and add 700 jobs over the next three years as it moves its headquarters from Boston to a downtown-Memphis building next to the city's minor-league baseball stadium and near hotels and historic Beale Street.

Indigo treats seeds with plant microbes and sells them to cotton, soybean, rice and corn farmers seeking higher crop yields. It also helps farmers market and sell crops. Perry said Memphis's proximity to farmers who use its product is a significant reason for its decision.

CME Group declares annual variable and quarterly dividends

CHICAGO, Ill. — CME Group, Inc. declared a fourth-quarter dividend of 70 cents per share last fall, payable Dec. 27 to shareholders of record as of Dec. 10, 2018.

CME also declared its annual variable dividend on Dec. 5, amounting to $1.75 per share. The dividend is payable Jan. 16 to shareholders of record on Dec. 28.

When CME adopted its annual variable dividend structure in February 2012, the intention was to determine the excess cash available at the end of each year, with the level to increase or decrease from year to year based on operating results, potential investment activity and other forms of capital return.

The annual variable dividend to be paid this month totals approximately $625 million. This follows CME's acquisition of NEX Group plc on Nov. 2, bringing together cash, futures and OTC marketplaces. Including this and the fourth-quarter 2018 dividend, the total yield for dividends announced during 2018 is 2.7 percent based on the average closing stock price in 2018.

The company stated it will have paid a total of more than $11 billion in quarterly and variable dividends since adopting the annual variable dividend structure in the beginning of 2012.

IFEEDER, M4L invite donations for Cornwell scholarship fund

ARLINGTON, Va. — The Institute for Feed Education and Research (IFEEDER), in partnership with the Milling4Life (M4L) charity, has launched a fundraising drive in support of a scholarship that provides financial assistance to students pursuing careers in the food and feed manufacturing sectors.

The charities announced they aim to raise $75,000 over the next few months, with the goal of offering the scholarship in perpetuity if sufficient funds are raised. The Mark Cornwell scholarship is named after the late Cornwell, a leading voice for the food and feed industries, who passed away in 2017.

It will provide scholarships to students from around the world taking advanced courses in grain storage, handling or processing and/or food and feed manufacturing, at a variety of U.S. institutions. IFEEDER and M4L are inviting companies and individuals throughout the industry to donate to the scholarship fund via https://bit.ly/2EsL629

Land O'Lakes, Tate & Lyle announce a corn collaboration

HOFFMAN ESTATES, Ill. — Land O'Lakes SUSTAIN and global ingredient supplier Tate & Lyle announced a new collaboration to advance conservation practices on Midwest farms, specifically in sourcing sustainable corn.

The relationship enables Tate & Lyle, a significant user of U.S.-grown corn, to enhance sustainable agriculture by helping corn farmers target and measure the impact of their environmental stewardship efforts, using the latest technology.

The collaboration leverages the Truterra Insights Engine, a new interactive on-farm digital platform from Land O'Lakes SUSTAIN, that helps farmers scale their environmental stewardship efforts and assess return-on-investment in real time, acre-by-acre.

In turn, the Truterra Insights Engine supports Tate & Lyle to have greater visibility of its environmental footprint beyond the factory gates, enabling the company and its customers to make informed decisions about their supply chain environmental strategies.

Redbook 2019 offers efficient recordkeeping for ranchers

DENVER, Colo. — A pocket-sized recordkeeping tool from the National Cattlemen’s Beef Assoc., offered to cattle producers for more than 30 years, is now available for 2019. NCBA’s Redbook lets cattle producers effectively and efficiently record their daily production efforts, helping enhance profitability.

The Redbook has more than 100 pages to record calving activity, herd health, pasture use, cattle inventory, body condition, cattle treatment, AI breeding records and more. It also contains a Producers Guide for Judicious Use of Antimicrobials in Cattle, Beef Quality Assurance Best Practices and proper injection technique information, as well as a calendar and notes section.

Redbooks can be purchased for $7 each, plus shipping and handling. Customization of the Redbooks is available (for 100 or more). To order, visit www.beefusa.org and click on “Producers.”

Nachurs Alpine Solutions acquires new manufacturing plant

MARION, Ohio — Nachurs Alpine Solutions is pleased to announce it has acquired the Garretson, S.D., manufacturing plant and the related specialty NPK business from Koch Fertilizer, LLC.

The Garretson facility is Nachurs Alpine Solutions’ seventh plant across North America and all current personnel at the facility will remain on staff. Murray Van Zeggelaar, VP of Marketing, said, “We look forward to continued service of existing customers of the Garretson facility, as well as improving our capabilities and service for our current Nachurs Alpine Solutions customers in the upper Midwest.”

 

1/16/2019