Attendees of the American Farm Bureau Federation’s 93^rd Annual Meeting picked up advice from Christopher Hesse on how to protect their estates. Hesse is a CPA with Larson Allen Firm-Wide Tax Resource Group and a partner in a family farm. According to Hesse, proper planning is critical. The current death tax exemption for 2012 is 5-million dollars. While Congress is expected to extend the current exemption to 2013, Hesse warns that if this is not the case, it will be reduced to 1-million. Any amount over the death tax exemption is subject to a taxable amount of 55 percent of the asset’s present value.

Hesse says one option is to start reducing total net assets through annual gifting. The government currently allows gifts up to 13-thousand dollars to be given to one individual without being taxed. But Hesse cautions, – one of the things people sometimes don’t realize is that if you just change your will, if you have an estate trust, the changes you make in the will do not effectively change the estate trust

According to North Carolina State University Extension specialist Nicholas Piggot, solid risk management – has never been more important – for producers of the nation’s major commodities. The economist told attendees of the AFBF Convention, that he anticipates – another fierce acreage-bidding war – this season. Concerning producer reaction to strong market signals, he said – this is fantastic for you farmers

Piggott added – acreage is not limited, – and tight corn stocks and continued high prices should translate to a significant boost in nationwide corn acreage, likely at the expense of cotton and possibly soybean production. Piggott noted 2011 was a “great year” for corn, cotton, and wheat but only a “moderate year” for soybeans, and this season’s U.S. bean market outcome may depend largely on South American weather and its impact on foreign supply.

Reed Rubinstein, senior counsel for the U.S. chamber of Commerce says farmers need to commit their time, energy, money and best thinking if they want to stop the proliferation of federal regulations that threaten their businesses. Addressing the 93^rd American Farm Bureau Federation Annual Meeting in Hawaii, Rubinstein said – this isn’t academic folks. When the federal government exercises its authority, it can send you to jail. We are all one regulation away from being out of business.

He said, – most of the “hyper regulation” currently affecting farmers stems from expansion of environmental law. But new health care regulations and financial reform will add to their regulatory burden in the next five to 10 years. He also noted that EPA is having internal discussions about moving away from place-based regulations supported by science to a holistic approach, which includes concern for social issues in writing regulations.

According to Rubinstein, farmers need to get engaged in these issues and comment on proposed regulations at every level of government. He emphasized that hyper regulation is also a state and local issue. Farmers need to be willing to serve on federal and local advisory panels that draft and review regulations, and file lawsuits if necessary.

Record yields for staple crops in the United States and globally in recent years seem to contradict fears that agriculture will be negatively affected by increasing climate temperatures. So says James Taylor, senior fellow for the Heartland Institute and managing editor of Environment and Climate News. Taylor spoke during an issues conference at the American Farm Bureau Federation’s Annual Meeting.

According to Taylor, – since 2007 we’ve seen record yields in production per acre in edible beans, cotton, alfalfa, sweet potatoes, canola, corn, hops, rice, wheat and more. This is a long-term trend, and it applies globally, too, as global grain harvests have nearly tripled since 1961. Taylor added – climate is not the only factor, but even if we accept global warming as a problem, it’s clearly not inhibiting crop production.

Dr. James Mintert, professor of Ag Economics and assistant director of Extension at Purdue University, said consumers should expect little relief in the price of a T-bone steak.  That’s because cattle producers continue to decrease their herds because of soaring feed prices and a weak economy. He blames high demand for ethanol that has forced the price of corn to nearly double in the past few years, driving livestock production costs up and putting cattle producers in the red.

A saving grace for the beef industry is the export market, which has rebounded from the lows in 2004 when a case of bovine spongiform encephalopathy was discovered in a U.S. cow. The United States is now a net beef exporter. Mintert said, – that has really helped hold down the number of pounds we put in front of consumers.

The pork industry, on the other hand, is much healthier, as production has increased 30 percent during the last 20 years in the United States and Canada. Pork producers face the same challenges as beef concerning feed costs, and like beef producers, are putting fewer pounds of pork on consumer plates. The difference is pork exports. Today, almost one pound of pork in four goes to the export market.

A clearer picture of corn’s biochemical responses to insect and fungal attacks is emerging, thanks to studies at USDA research facilities in Gainesville, Florida. Taken together, these discoveries add significantly to the existing body of knowledge on corn’s stress-coping mechanisms, and set the stage for novel approaches to improving the grain crop’s insect and disease resistance.

In experiments, physiologically relevant amounts of the newly discovered kauralexin class of phytoalexins inhibited the growth of anthracnose stalk rot by 90 percent. Similarly, zealexins inhibited the growth of the aflatoxin-producing fungus Aspergillus flavus by 80 percent. These maize pathogens cause significant yield loss and fungal-derived toxin contamination issues for U.S. farmers.

The Department of Agriculture says, in 2007 there were about 3,350 organic livestock farms in the United States, a relatively small number overall. Because of a lack of chemicals used in organic production, organic farmers face a challenge.  Finding a veterinarian trained to treat livestock without antibiotics or other modern drugs.

Gatz Riddell, a veterinarian and executive vice president of the American Association of Bovine Practitioners, says – only a minority of members have the mindset to work with organic producers. Riddell, says most vets probably encounter only one or two organic farms and – it’s asking a lot of them to know actually two different ways of treating something.

It’s also difficult to get subjects added to “already overflowing” veterinary curriculums. Jim McKean, a veterinary professor at Iowa State University, says – some schools now offer courses on alternative therapies, but the focus tends to be more on herbal and Chinese therapies, not necessarily organics. There’s also an issue of money. Few veterinarians focus on organic medicine because it’s seen as being a difficult area for earning a living.