A lot of the West is experiencing severe drought conditions and has been declared a disaster area by the USDA Secretary of Agriculture.  Many ranchers may be making decisions about selling their livestock because of these conditions.
There are special tax provisions for sales of livestock more than normal because of weather conditions. Experts with Utah State University Extension will provide a webinar to provide the basic issues and allow participants to ask questions. The webinar will be this Wednesday, May 12, from 12 noon MDT (11 AM PDT or 1 PM CDT). The webinar is free but requires registration.
To register in advance for this webinar, visit https://usu-edu.zoom.us/webinar/register/WN_BnMIQmTVQCCj6teRw2vCIQ.
After registering, you will receive a confirmation email containing information about joining the webinar. For questions, please contact Ruby Ward (ruby.ward@usu.edu).
There will be another webinar on Thursday (May 13), from 11 a.m. to 1 p.m. MDT, with related, but broader content.This two-hour webinar hosted by USU Extension Economics will cover current market conditions for livestock products, as well as the key drivers of the 2021 commodity boom and how the boom may impact Utah producers. For those of you looking to manage drought related risk in 2021, drought indicator and management resources for Utah agriculture will be discussed as well as tax issues to consider when selling livestock due to weather or climate events. Finally, for those selling via direct market outlets, techniques for conducting marketing research using social media pols will be presented.
The agriculture outlook is targeted at agricultural stakeholders in Utah including, but not limited to, state and federal agency representatives, farmer and rancher groups, farm financial institutions, tribal government representatives, and Extension leadership. There will be time after each presentation for questions and discussion.
To register for this webinar, visit https://usu-edu.zoom.us/meeting/register/tZEvdO2urT4oGtV4MOMjIazUwk_Tr7ntbfNo.