mitch meyer

farmer and crop insurance agent

[mitch meyer @getaGRIPifaDad]

I really liked the math of margin protection before they created mco. The hard lesson i learned with mp in later years was these high fertilizer prices can really influence a loss. Now magnify that effect into a 5% band. Fertilizer we manage with fall app n prepaid.
I agree with Ben on the large agencies.

[mitch meyer @getaGRIPifaDad]

@BasedMikeLee Your approach here to pit Republicans vs republican base is pretty short sighted and sad on how it's just about donors lists. What happened to drill baby drill and all of the above? Isn't that what benefits the consumers. Quit whining about which part of the same team wins!

[mitch meyer @getaGRIPifaDad]

@AIGinsurance Your customer service department has brought massive frustration. Phone lines sounds like it is in a wind tunnel and yet to speak to anyone without a strong accent that is understandable. There's nothing "instant" about your account. Is your call center estate lawyers?

[mitch meyer @getaGRIPifaDad]

@GrainsGorilla Iowa didn't matter last year when yields were off by 40bu due to rust and record wet July. So why do we matter now? Or. Western plains broke the record last year so why don't they matter now? Like acres... shame the estimates until they have the real data!

[mitch meyer @getaGRIPifaDad]

@Cjstein33 The skidloader forks "accidentally " puncture those before they go back.

[mitch meyer @getaGRIPifaDad]

@Dusty3080467325 Saw @cfarms76 post a chart showing nass over estimated yield by a significant amount vs rma yield that is reported by 98% of acres. Why can't the carry in be adjusted to June 30 s&d report?

[mitch meyer @getaGRIPifaDad]

@cfarms76 @NebGradDubDub Great chart! The RMA yield should be the only number traded by the market as it reflects 98% of the acres.

[mitch meyer @getaGRIPifaDad]

@cfarms76 But but but... north Dakota and texas!!!!🤦

[mitch meyer @getaGRIPifaDad]

@umichvoter In the Midwest we care American football, basketball, and baseball with some racing mixed in. You can add hockey as you work north. We'll pass on soccer.

[mitch meyer @getaGRIPifaDad]

@CropInsBatman @richmarketguy Great map. On an unrelated note... A good chunk of the most productive part of iowa was deep into eco payments, but hey, above trend line yields from usda last year!

[mitch meyer @getaGRIPifaDad]

@EvanShout @clintwfischer @RealPlantBrah Bingo. The current land values have flipped estate planning game from 30 years ago. What have mom n dad done to make that farm worth 15,000 today that was worth 2,000 when they got it? The new balance is "non's" buyout without making "farmer" unsustainable.

[mitch meyer @getaGRIPifaDad]

@EvanShout @clintwfischer @RealPlantBrah For argument sake, let's assume sustainable either way. Everyone's point is this is on a trajectory of one generation and it will be sold in pieces. Son, nephew, regardless farming heir...if mom n dad want the farm to continue then have a generational plan on land ownership.

[mitch meyer @getaGRIPifaDad]

@clintwfischer @RealPlantBrah An alternative would be land entity is sold on contract to the nephew based on payments equivalent to the cash rent. If the family is serious about maintaining the farm's legacy, this concept of nonfarm heirs getting fmv needs to end. Does farmer that never sells ever sees fmv?

[mitch meyer @getaGRIPifaDad]

Hello @RandyFeenstra and @RepAshleyHinson . We've been without a farmbill for 3 years now, so his threat shouldn't be too concerning. How are we doing at showing Josh and his "consumers " that ethanol is very cheap at the pump vs non-ethanol blends?

[Congressman Josh Brecheen @RepBrecheen]

While I am hopeful to be supportive of the Farm Bill, there is currently an E15 (ethanol) mandate tacked on to the Farm Bill that I am working hard to remove. I am convinced that this will increase costs at the pump for all Americans, whether they are driving a car or operating a tractor in a field.

President Trump and his team rightly provided exemptions to small refineries from the ethanol blend mandate. This new E15 mandate, which I’m opposed to, will reduce these Trump-era exemptions by 80%. This ethanol mandate is set to subsidize corn states at the expense of the state of Oklahoma. It also aligns with the climate alarmist agenda aimed at crowding out fossil fuels. This could very likely put small refineries out of business across the country, further driving up the cost of fuel in Oklahoma.

Read this article by @AlexEpstein to learn more: https://t.co/M7qtaYqvg1

[mitch meyer @getaGRIPifaDad]

@ZachLahn @Iowacrops What is your plan to discourage this type of ownership. A sales tax of 35% at the time of buying? Maybe a basis of $0 if you fall into this category, unless selling to a young local farmer? $100/acre prop tax surcharge until they liquidate?

[Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl]

NO THIS IS HORRIBLE.

Importing Argentine beef to combat high us prices is attacking the supply problem by killing the solution. US cattle herds are at 70 year lows. Ranchers are finally profitable because supply is tight. That price signal is supposed to trigger herd rebuilding.

Flood the market with 80,000 metric tons of imports and you suppress wholesale cattle prices, which gets passed back to ranchers as lower payments from packers. But retail beef prices barely move because packers and retailers capture the spread. Ranchers are price takers with zero control over grocery store prices. The National Cattlemen's Beef Association is right that this won't meaningfully impact what consumers pay. Argentina produces 5% of global beef supply and doesn't have the volume to move the needle on U.S. consumption.

What it does accomplish is removing the economic incentive to rebuild domestic herds before that rebuilding happens. If ranchers can't make money when cattle inventory is at a 70 year low and beef prices are at 40 year highs, the message is clear: the market won't reward domestic production even under the most favorable conditions in generations. That accelerates exits, consolidation, and permanent capacity loss. You're solving a temporary supply shortage by making sure the structural supply problem gets worse.

[mitch meyer @getaGRIPifaDad]

@SoybeansRus @NathanMangold @McNeilBJ @ArlanFF101 @GoddessofGrain @GrainStats Insurance claims are still getting worked so Jan 1 yields are going to be tough. How about aggregated yields from climate, deere, case, and agleader cloud platforms? I've got to think we're going to quickly get 40% participation on those if not already.

[mitch meyer @getaGRIPifaDad]

@McNeilBJ @McTaggart82 @GrainStats @ArlanFF101 @GoddessofGrain My alternative idea would be a set formula for intended acres and trend line yield. Everyone in the industry knows that formula and adjustments are only made for extreme scenarios. Those adjustment factors would be known months before they are released.

[mitch meyer @getaGRIPifaDad]

@Dusty3080467325 @jamesdecker2006 @dustinkittle I would love to see which side of the ledger they report this income? Remember their real estate side has income tax exemptions versus their lending for non-real estate?

[mitch meyer @getaGRIPifaDad]

@chigrl Same concept can be applied to agriculture. They're both in the commodity production business with an administration using commodities as a tool to combat inflation. #goldenageof.....