The IRS has listed counties eligible for an extended replacement period for drought sales of livestock. Owners in specified areas now have at least until the end of 2025 to replace the involuntarily converted animals.
Roger McEowen with the Washburn School of Law spoke with RFD-TV’s own Tammi Arender on what this process entails, the duration of the replacement period, and eligibility.
FIRM TO FARM: Extended Replacement Period for Weather-Related Livestock Sales
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Recent USDA export sales data show China has been active in the U.S. market, but analysts tell RFD-TV News that the timing is a key clue.
Tight feeder supplies and lower placements indicate continued support for the cattle market, with regional impacts heightened in Texas by reduced feeder imports.
Cattle markets are watching the Cattle-on-Feed Report for signs of tighter supplies, while USMEF warns limited China access is cutting producer profits.
Lower milk prices may pressure margins, but strong cattle values could soften near-term financial impacts.
The Pet and Livestock Protection Act now moves to the Senate for consideration.
Analysts say that while low-income households are facing financial pressures, other middle- and higher-income consumers are helping fill the gap for retail beef demand.
