Depreciation Expanded into Additional Categories

The House Ways and Means Committee passed legislation (H.R. 2510) that would make 50 percent bonus depreciation permanent and expand it to include fruit- and nut-bearing plants that have a pre-productive period of two years or more. American Farm Bureau Federation President Bob Stallman says that because farming requires large investments in machinery, equipment and other depreciable capital, farmers and ranchers place great value on tax code provisions that allow them to write off capital expenditures in the year that purchases are made.

The Senate Finance Committee in July passed a measure extending for two years a number of expired or expiring tax provisions, including bonus depreciation. Along with the time-frame difference (the House Ways and Means Committee legislation makes the provision permanent versus the Senate Finance Committee’s two-year extension), the House and Senate bills differ in that the Senate version does not include the addition of plants with pre-production periods of two years or more.

 

Chicken Product Recall

USDA’s Food Safety and Inspection Service (FSIS) announced late Thursday it is alerting consumers that frozen, raw, stuffed and breaded chicken products produced by Aspen Foods, a division of Koch Poultry Company, a Chicago establishment, have been confirmed as having the same Salmonella outbreak strain that was part of a July 15 recall.Since that recall, FSIS has been conducting intensified sampling at this plant to make sure Aspen Foods has controlled the hazard responsible for the initial contamination. Results revealed 12 positives that match the outbreak strain of Salmonella s to Aspen Foods products. Three illnesses were linked to the original recall.FSIS is concerned about all frozen, raw, stuffed and breaded chicken products produced by Aspen Foods between July 30 and Sept. 17.

 

Retail Demand for Broilers Still Strong

The chicken industry has produced 7 percent more ready-to-cook meat this year than a year ago, but the market is absorbing the increased production.

That’s the conclusion of Stephens Inc. analyst Farha Aslam, who finds retail demand for broilers is still strong due to the relative price of chicken to other proteins, wings are more popular than ever and not just in football season, and recovering export markets should support breast and leg quarter prices.

Bacon lovers now have an app that can help them find soul mates who share their apprecation for the savory pork product.Kraft Heinz Co. has unveiled Sizzl, a dating app from Oscar Mayer designed to bring bacon lovers together. The site l lets people specify their bacon preferences in a customizable profile, upload photos, view other profiles and message fellow users. The app is available for the iPhone 5 and above as well as iPads. No word yet on whether a version of the app will be developed for Android-based devices

The American Farm Bureau Foundation for Agriculture and the National Peanut Board, along with state peanut producer and industry organizations, have launched a peanut learning resource geared for students in grades 3-5. Peanut activity cards (Discover the Powerful Peanut (http://www.agfoundation.org/resources/more-free-resources)) allow students to practice their math skills as they crunch peanut production data and reinforce social science skills as they create maps of key peanut growing regions and explore key events in history influenced by peanuts. They will also dig into science as they explore allergies, the plant lifecycle and nutrition.