The following is a review of topics discussed and action taken during the meeting of the Board of Directors held February 9-12, 2026, in St. Joseph, Missouri. 

AMERICAN ANGUS ASSOCIATION 

• Total assets at December 31, 2025 were $31,721,500 and consisted of current assets of $2,191,900, investments of $23,700,500 of which $13,101,000 is restricted, and fixed assets of $5,829,100. Current liabilities were $1,645,800 consisting of accounts payable, accounts payable intercompany, accrued liabilities and deferred income. Long-term liabilities of $1,029,600 consisted of accrued health insurance benefits, deferred compensation, and a forgivable economic development grant from Buchanan County. Net income for the period ending December 31, 2025 was $950,600. 
• Smitty Lamb moved, seconded by Mark Johnson, to accept the finance report. The motion passed unanimously.  
• The Board approved Committee reports as follows:
  • Breed Improvement Committee report and recommendations: motion by Paul Bennett, second by Darrell Stevenson, unanimous approval.  
  • Commercial Programs Committee report and recommendations: motion by Art Butler, second by Danny Poss, unanimous approval.  
  • Communications and PR Committee report and recommendations: motion by Charles Mogck, second by Mark Johnson, unanimous approval. 
  • Events and Junior Activities Committee: motion by Jerry Theis, second by Henry Smith, unanimous approval.  
  • Finance and Planning Committee report and recommendations: motion by Smitty Lamb, second by Paul Bennett, unanimous approval. 
  • Member Services Committee report and recommendations: motion by Rob Adams, second by Ron Hinrichsen, unanimous approval. 
  • The Board heard a presentation from National Junior Angus Board Chairman Ava Leibfried. 
  • A member inquiry regarding optional EPDs/$Values on registration certificates was discussed.
  • A member inquiry regarding increased commercial producer engagement was discussed. 
  • The Board toured the current DNA sample storage situation and discussed archiving capacity and expense. 
  • Initial plans for the 2029 World Angus Forum were presented and logistics were discussed. 
  • The recent NCBA convention and policy committee topics were discussed. 

BREED IMPROVEMENT COMMITTEE 

• Staff presented suggestions for the Data Driven Herd program shared from membership. After discussion, the committee agreed to change the dates for data submission for the program. The data submission year will be changed to August 1 – July 31. In addition, herds that earn MaternalPlus status will meet requirements for weaning weight and heifer breeding for traits in the Data Driven Herd program.  
• A member letter was received in request of researching a gestation length EPD. Staff reviewed research from 2021 around gestation length. While no action was taken by the committee to move forward with a research EPD, it was suggested staff review the current standards for gestation length of Angus cattle in produced resources like the gestation length calculator. 
• Staff shared planned updates for the genetic evaluation that takes place at the end of May. They are fairly standard updates including the economic assumptions and other updates to the software and evaluation maintenance. 

COMMERCIAL PROGRAMS COMMITTEE 

• The committee reviewed both the fiscal year-end results and first quarter results. For the first quarter enrollments were down about 5,000 head, while the number of enrollments were up by 24%.  
• The committee reviewed highlights from the first ever AngusLink^® Special Feeder Sale held at Beaver County Stockyards. There were record premiums and strong support for the AngusLink^® only section.  
• The committee reviewed the Marketing Plan for the upcoming Fiscal year centered around the 1 million head milestone, video sale promotion and increasing seedstock engagement.  
• The committee reviewed the annual updates to the AngusLink^® Genetic Merit Scorecard (GMS)^®, and reviewed the GeneMax™ integration into the GMS.   

COMMUNICATIONS AND PR COMMITTEE

• The committee reviewed results from the new creative for the National Ad Campaign. Additional ads are being developed and will be tested and reviewed with a breeder focus group.  
• The Pathway to Progress commercial producers’ pathway plans were discussed. This coordinated marketing campaign promotes ways that users of registered Angus genetics can unlock tools to help them increase their profitability. 
• The committee heard an update on the progress of the mobile app upgrade. Users will only have to update their app just as any other app on their phone in order to get the new version. New features include improved user functionality, limited advertising spots and featured sale books. 
• The committee discussed the numerous platforms and methods we have to reach our members. Staff will continue to explore ways to improve and will report back in the future. 

EVENTS AND JUNIOR ACTIVITIES COMMITTEE 

• Taking the recommendation of the nominating committee, Henry Smith motioned and Ron Hinrichsen second the motion to approve: Lou Ann Adams, Everett Benoit, Roger Jacobs and Gary Parker (posthumously) as inductees to the Angus Heritage Foundation. Motion passed unanimously.  
• Committee received a letter from Northern International Livestock Expo (NILE) requesting Super ROV status. A motion was made by Ron Hinrichsen and seconded by Mark Johnson to approve the request with a known caveat of the judge selection being treated like other Super ROVs and on a one-year contract. Motion passed unanimously.  
• Roll of Victory show numbers were reviewed from the 2025-2026 Show Season. Henry Smith made a motion to approve the Super and Regular ROV Shows for the 2026-2027 Show Season and second by Ron Hinrichsen. Motion passed unanimously.  
  • Super ROV Shows for 2026-2027 Show Season will include: Atlantic Nationals, American Royal, Cattlemen’s Congress, National Western, North American, Western National Angus Futurity, and Northern International Livestock Expo. 
  • Regular ROV Shows for the 2026-2027 Show Season will include: All American Futurity, Dixie National, Fort Worth Stock Show, Illinois Central Preview, Keystone, New York State Fair, Tennessee State Fair, and World Beef Expo.  
• Judges were selected for the 2026 National Junior Angus Show, 2026 Eastern Regional Junior Angus Show and the 2026-2027 ROV Show Season.  

MEMBER SERVICES COMMITTEE 

• Changes made to the Breeders Reference Guide for Rules 800,805b, 810, 104d. and 904 

• The committee considered proposed language to accommodate rule enforcement at shows sponsored and supported by the Association, regardless of Association paid premiums. 

The Association regularly appropriates funds toward the payment of premiums sponsorship and support at certain Fairs, Shows and Exhibitions. These funds are appropriated for the purpose of rewarding member exhibitors or member owners of those animals whose conformation is most desirable and properly attained. In the case of breeding stock, it is for the additional purpose of recognizing conformation most likely to add value to breed improvement. In order to carry out these purposes, the Association has established these Show Rules. Simply stated, these rules have been drafted to ensure that all animals presented for exhibition at Association-approved livestock shows shall be in their natural conformation and structure, free of any alteration or modification by injection or internal or external administration of any Prohibited substance or by any involvement in unethical fitting.  

• b. Exhibitors, individuals assisting exhibitors or member owners who participate in shows that are administered by or receive premium sponsorship support from the American Angus Association shall not be allowed to use any form of coloring agent at such show on any animal exhibited. (As amended June 8, 2023) The Association may adopt and implement various tests designed to monitor this prohibition, including but not limited to a “white towel” or “white glove” test. No aerosol cans or other pressurized containers will be allowed in designated make up areas. 

The Board of Directors may, from time to time, also adopt and disseminate rules and guidelines to be used at selected junior shows at which the Association appropriates funds toward the payment of premiums sponsorship and support. Such rules and guidelines may be enforced by authorized representatives of the Association. 

• Motion made by Mark Ahearn to accept proposed changes to Rules 800,805b, and 810. Second, by Jerry Theis. Motion passed unanimously.  

• Staff presented recommended language to clarify the sire testing requirements on ET calves.

Rule 104.d. Calves produced by embryo transplant. For calves resulting from an embryo transplant: 

1. The Sire must be DNA-marker-typed or must have been blood-typed before January 1, 2001. The full suite of known commercially available tests for the genetic conditions monitored by the American Angus Association will be required for all bulls, born on or after January 1, 2018, that are the source of semen for the purpose of Embryo Transfer. 

8. Each application for entry must be accompanied by an AI Service Certificate. See Rule 500-506 for Artificial Insemination requirements for an embryo transplant calf. 

• Motion made by Jerry Theis to accept proposed changes to Rule 104d. Second, by Charles Mogck. Motion passed unanimously.  

Staff presented Rule 904 and examples of situations leading to members wanting to change the name on a membership. With improvements in technology over time, the labor required of Association staff to make these changes today has decreased and staff felt the current fee was too high and recommended it be lowered.  

• Motion made by Charles Mogck to lower the membership name change fee from $500 to $100. Second, by Jerry Theis. Motion passed unanimously.  

• To reduce costs and improve efficiency, the default for billing and suspense letters will become electronic starting in June 2026. Members who do not want to go electronic can choose to keep paper billing and statements at no cost. Staff reviewed the numerous efforts planned over the next several months to notify membership of this change.  

• Continuing to explore options to deliver additional benefits to Association membership, Kenny Miller presented a health insurance purchasing option that could be offered to members. Miller explained how the program might work, the criteria for participation, and the limited role the Association would have to administer the program. After discussion, committee members agreed the program could be attractive to members and supported the staff suggestion to conduct a membership survey this spring to further gauge interest. 

• The upcoming delegate election was discussed with similar plans as in years past. Dates for eligibility, the nomination period and the counting of ballots are as follows for 2026: 
  • Eligibility period began on April 20, 2025, and ends April 19, 2026 
  • Nomination period begins on April 20, 2026, and closes June 19, 2026 
  • Mailing of ballots and voting information via email will be sent on July 17, 2026 
  • Deadline for ballots to be returned is August 18, 2026 
  • Counting of ballots on August 19, 2026 
  • Convention of delegates November 16, 2026 
• To help members keep their account access current and secure, an email reminder is being sent annually to prompt important reviews and updates of names on the account, passwords, agents. Several members have acted on this email and are making progress to ensure security and accuracy.  
• A Transfer History was also implemented through AAA Login. This is designed to improve visibility on multi-owned animals.  
• Staff presented on the AIMS software including updates that have been released, issues that have been resolved, educational and support materials that have been created, and the status of plans to transition AIMS to be web-based.  
• The inaugural Herdsman Bootcamp sponsored by the Angus Foundation was held at the office of the American Angus Association in St. Joseph, MO on December 1-2, 2025.

FINANCE AND PLANNING COMMITTEE 

• Balance Sheets and Income Statements for the period ending December 31, 2025 were reviewed. Total assets on the consolidated financial report were $98,369,500, consisting of current assets of $14,469,900, investments of $66,818,900, property and equipment of $15,679,700 and non-current assets of $1,401,000. Current liabilities were $7,399,000, consisting of accounts payable, accrued liabilities and deferred income. Long-term liabilities of $2,325,000 consisted of accrued health insurance benefits, deferred compensation, and a forgivable economic development grant. Net income for the period ending December 31, 2025 was $3,399,200. The financials through December 31, 2025 for each entity were reviewed and presented as well. Those financials will be presented in each entity’s minutes.  
• Staff presented an overview of the investment portfolio. Staff reviewed the investment policy and reported on diversification of the portfolio. The portfolio consisted of 62.08% equities and 37.92% fixed income securities. Consolidated investment income year to date through December 31, 2025 was a positive $1,369,600. Staff reported on the performance of the portfolio pointing out the volatility that may occur month to month.  The return on the consolidated investments fiscal year to date was a positive 2.2%. Year to date, through December 31, 2025, there were withdrawals from the portfolio totaling $1,500,000. $500,000 was withdrawn from the Association portfolio and $1,000,000 was withdrawn from the CAB portfolio. This was done for cash flow purposes as a result of using cash on hand to fund capital projects in prior periods. 
• Charles Mocgk made the motion to retain CliftonLarsonAllen as the auditors for the Association for the current fiscal year, Danny Poss seconded the motion.  Motion passed unanimously.   

ANGUS FOUNDATION 

• Total assets at December 31, 2025 were $31,347,400, and consisted of current assets of $930,000, and investments of $29,204,900, of which $28,058,800 is restricted, and long-term pledges receivable of $1,212,500. Current liabilities were $1,222,400 consisting of accounts payable, accounts payable intercompany, and accrued liabilities. Long-term liabilities of $32,300 consisted of accrued health insurance benefits. Net income for the period ending December 31, 2025 was $951,900.   
• Tom McGinnis moved, seconded by Jerry Theis, that the financial report be approved. Motion passed unanimously.  
• Angus Foundation’s Long Range Strategic Plan was updated on progress for current fiscal year.  
• A Resource Development Committee was reviewed and plans for upcoming meetings. 
• The Board reviewed fundraising activities from the current year and discussed future for the heifer package, sale of pregnancies and fundraising events.  
• Express Ranches of Yukon, Oklahoma will host a fundraiser for the Angus Foundation at their pre-sale dinner at the Big Event Sale.  
• The 2026 Honorary Angus Foundation nominee is John and Gaye Pfeiffer of Pfeiffer Angus Farms of Mulhall, Oklahoma. Tom McGinnis made the motion to approve and seconded by Jerry Theis. Motion passed unanimously.   

ANGUS GENETICS INC. 

• Total assets at December 31, 2025 were $3,263,400, and consisted of current assets of $1,843,500, investments of $1,404,600, and fixed assets of $32,500.  Due to tax and book expense differences, there is also a deferred tax liability in the amount of $17,200. Current liabilities were $1,921,900 consisting of accounts payable, accounts payable intercompany, and accrued liabilities.  Long-term liabilities of $25,400 consisted of accrued health insurance benefits.  Net income for the period ending December 31, 2025 was $173,000.   
• Art Butler moved to accept the financial report. Darrell Stevenson seconded. The motion passed unanimously. 
• The Board reviewed AGI business statistics, discussed the evolving landscape of genetic evaluation, reviewed plans for the Imagine conference planned for August, and continued discussions around accessing more commercial data. 
• After discussion on the strategic planning efforts for AGI, Paul Bennett moved to accept the proposed revalidated mission: Empower genetic improvement for Angus families and the global beef industry. Darrell Stevenson seconded the motion. The motion passed unanimously. 
• The Board was updated on the University of IL index validation project. Darrell Stevenson moved to authorize a discretionary spend up to $130,000, to expand the research objectives and cover additional genotyping needs on the project. It was seconded by Jerry Theis. The motion passed unanimously. 
• The Board heard updates on research projects involving bovine congestive heart failure and cow efficiency.  

ANGUS PRODUCTIONS INC. 

• Total assets at December 31, 2025 were $3,163,200, and consisted of current assets of $1,487,100, restricted investments of $1,163,800, fixed assets of $306,700, and noncurrent assets of $205,600. Current liabilities were $1,631,300 consisting of accounts payable, accounts payable intercompany, accrued liabilities and deferred income. Longterm liabilities of $303,200 consisted of accrued health insurance benefits. Net income for the period ending December 31, 2025 was $61,700. 
• Mark Ahearn moved, seconded by Danny Poss to accept the finance report. The motion passed unanimously. 
• President Lemon and his team reviewed the business metrics and progress towards future products and services. 
• The topic of server speed challenges and the necessary investments to rectify was discussed. 
• The Board discussed the Angus Journal subscription rate history and the preference for every member’s household to receive the Angus Journal. 

CERTIFIED ANGUS BEEF LLC 

• Total assets at December 31, 2025 were $29,980,200, and consisted of current assets of $9,123,600, investments of $11,345,300 of which $2,622,800 is restricted, and fixed assets of $9,511,300. Current liabilities were $2,083,700 consisting of accounts payable, accounts payable intercompany, accrued liabilities, and deferred revenues.  Long-term liabilities of $911,000 consisted of accrued health insurance benefits, and deferred compensation. Net income for the period ending December 31, 2025 was $1,262,100. 
  Darrell Stevenson moved to approve the financial report. The motion was seconded by Art Butler and passed unanimously. 
• October through January, Certified Angus Beef^® acceptance rate increased just over 2 percentage points (36.3% vs. 34.2%). With overall fed-cattle harvest down 8.3% for the same period, the improvement in acceptance rate resulted in only a 1.6% decline in certified headcount qualifying for the brand. With quality increasing, carcasses qualifying for Certified Angus Beef^® Prime increased by 13.2% compared to the prior year. 
• Sales through January, reflected growth of 3.4% over the prior year, an increase of 13.6 million pounds. Thus far, sales are only 6 million lbs. off the record pace set in 2019 as the first 4 months of the fiscal year included the third strongest October, the second strongest December, and strongest January on record. While international sales trail the prior year by nearly 4.0%, retail (+0.1%) and foodservice (+5.2%) both grew with sales of Certified Angus Beef^® Prime, Grass-Fed, and Value-added products increasing by 14.5%, 29.5%, and 6.5% respectively. 
• The first Certified Angus Beef^® grain-fed product produced in Uruguay by the brand’s newly licensed packer partners was displayed at the Gulfood Show in Dubai in January. The product was well received by global end-user customers and, as a result, production is expected to ramp up in the coming months. As a reminder, brand requirements prohibit the sale of this product into the United States and focus its sale into international markets currently inaccessible or dramatically underpenetrated by the brand’s North American suppliers. 

NEXT REGULAR BOARD MEETING 

June 7 - 10, 2026 in Lake Ozark, Missouri