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Cattle Owners Taking Economic Hit Due to Drought

 
Cattle Owners Taking Economic Hit Due to Drought
Posted Tuesday, May 20th 2014 @ 8am  by KFBK News

The organization which represents ranchers in California says they're taking an economic hit from the drought.  

State Farm Bureau President Paul Wenger says they are being forced to sell cattle, but there's a law on the books that protects ranchers who pay income tax on their livestock.

"If you're a cattle producer, and you're forced to sell your cattle because of no feed because of the drought, you can actually then postpone paying income tax, for I believe, five years," Wenger said. 

Since the U.S. Department of Agriculture declared a drought disaster earlier this year, farmers have been allowed to apply for low-interest loans to help them stay afloat.  

However, ranchers are not included in that program.

However, Wenger says ranchers who are forced to sell their cattle due to the drought can get tax relief on the income gained from those sales.

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