Food & Farm News
Audio ActualityBenefits for farmers and ranchers by extending tax revisions
Real Audio (Real Player required)
2012 | 2011 | 2010 | 2009
2008 | 2007 | 2006 | 2005
» November 18, 2005 «
Higher energy prices have even affected the average cost of this year's Thanksgiving meal. The American Farm Bureau reported yesterday (Thursday) that its survey shows prices for traditional holiday items rising 3 percent from a year ago. The Farm Bureau attributes the increase to higher processing, packaging, shipping and refrigeration costs, all linked to energy prices. It estimates that items for a Thanksgiving feast to feed 10 people can still be purchased for less than $37.
Continuing a long-standing trend, the average American-raised turkey weighed a bit more this year. The U.S. Agriculture Department says turkeys sold on this year's market weighed an average of about 28 pounds ... 1 pound more than the previous year. Strong demand has benefited turkey growers. The USDA says farmers earned nearly 53 cents a pound for their birds last month, which represents a record average price.
Consumers should have no trouble finding plenty of celery for Thanksgiving dinners. Celery growers describe the quality of this year's crop as excellent and say harvest is going smoothly. But, they add supplies exceed demand right now, driving farmgate prices down. The main production area is switching to Ventura County, as it usually does this time of year. Wholesale prices for a number of California-grown vegetables are lower than they were a year ago.
Farmers and ranchers urge Congress to extend the current capital gains tax rate beyond its 2009 expiration date. The tax rate will increase at that point, unless Congress acts. Growers pay capital gains taxes when they sell land and on sales of cattle. Farm groups also have asked Congress to broaden tax deductions for food donations. Bills implementing these provisions are now being discussed in both the House and Senate.
On the Calendar:
The 12th annual Mountain Mandarin Festival starts tomorrow (Saturday) in Auburn.