MANHATTAN, Kan. (RFD-TV) — Strengthening the U.S. beef industry remains a top priority as the national cattle herd continues to sit at historically low levels. A new financial incentive — the restoration of 100 percent bonus depreciation under the One Big Beautiful Bill Act (OBBBA)— is now giving ranchers a fresh opportunity to rebuild their herds.
Roger McEowen with Kansas’ Washburn University School of Law, joined us on Thursday’s Market Day Report to discuss what the policy means for cattle producers and how they can take advantage of the renewed tax provision.
In his interview with RFD-TV News, McEowen outlined how the restoration of bonus depreciation could help ranchers recover costs more quickly, particularly as they invest in heifer retention and herd expansion. He also shared considerations producers should keep in mind when planning herd growth strategies and long-term tax management.
Before wrapping up, McEowen weighed in on ongoing trade talks between the U.S. and China, noting that President Trump’s recent announcement of increased Chinese purchases of U.S. agricultural products — including soybeans — could have meaningful implications for American farmers once more details are finalized.
“That’s good for soybean farmers. It’s going to be good for the soybean market, in general. So we’ll see what happens going forward, but we’ve got an immediate commitment to buy 12 million [metric tons of soybeans].” McEowen said. “Now the downside of that, a skeptic would say, ‘Yeah, China was going to buy that all along. They just waited until the market went down, and they bought the 12 million on the cheap.’ But we did get some other concessions for that with respect to minerals and the like, so all in all, a pretty good deal.”
In part five of his blog series, “Top 10 Developments in Ag Law and Tax in 2023,” Roger McEowen tackles issue number three, California’s Prop 12 pork regulations.
February 01, 2024 04:06 PM
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In part four of his blog series, “Top 10 Developments in Ag Law and Tax in 2023,” Roger McEowen tackles issue number four, the Employment Retention Credit.
January 31, 2024 09:00 AM
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In part three of his blog series, “Top 10 Developments in Ag Law and Tax in 2023,” Roger McEowen covers the Corps of Engineers’ mismanagement of Missouri River water levels.
January 30, 2024 02:29 PM
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“Where The Food Comes From” visits M&B Products, a milk bottling plant in Temple Terrace, FL (a suburb of Tampa) with its farm in Lecanto, operated by the McClellan family. Get ready for a lesson in everything from milk bottling, to dairy nutrition, and bovine reproduction!
January 25, 2024 03:00 PM
Would you believe it’s possible to have a dairy barn where all you smell is clean fresh country air? Leon McLellan of M&B Products in Temple Terrace, FL shows us how!
January 24, 2024 03:00 PM
If chocolate milke doesn’t come from brown cows (and strawberry milk certainly doesn’t come from pink ones), then where does it come from? Get the scoop!
January 24, 2024 10:00 AM
At Florida dairy operation M&B Products, we learn about bottling milk, lactose intolerance, and so much more!
January 23, 2024 03:57 PM
Two more key developments in ag law and taxation from 2023, a crackdown on biodiesel fraud and developments in self-employment taxation (#7 and #6), are the topic of today’s Firm to Farm blog post, the second in a series by RFD-TV agri-legal expert Roger McEowen.
January 18, 2024 12:44 PM
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The start of the review of the most important ag law and tax developments of 2023—that is the topic of today’s Firm to Farm blog post by RFD-TV agri-legal expert Roger A. McEowen
January 04, 2024 12:20 PM
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