|We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Network weekdays- if you missed this morning's Farm News - or you are in an area where you can't hear it- click here for this morning's Farm news from Carson Horn on RON.
Let's Check the Markets!
OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
475 head of cattle on their showlist for the Wednesday,
July 31st sale of finished cattle - click here
to jump to the website.
OKC West sold slaughter cows mostly steady to 1.00 higher and slaughter bulls mostly steady on a light test Monday compared to the last sale - click or tap here for the full report from USDA.
On a hot Monday, 7,000 head of cattle were sold at the Oklahoma National Stockyards- and with good demand- Compared to last week: Feeder steers and heifers mostly 2.00-7.00 higher. Steer and heifer calves too lightly tested for an accurate trend.Click or tap here for the complete report.
Joplin Regional Stockyards reported 4,985 head were on offer on Monday- Compared to last week, steers and heifers sold steady to 3.00 higher- click or tap here for the full rundown from USDA Market News.
Today's First Look:
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures
- click or tap here
for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
Carson Horn, Associate Farm Director and Editor
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
Kane Kinion, Web and Email Editorial Assistant
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, July 30, 2019
| Featured Story: Summer Business Meeting of the Cattle Industry Gets Underway in Denver
The Cattle Industry Summer Business Meeting features meetings of the National Cattlemen's Beef Association, Cattlemen's Beef Promotion & Research Board, American National CattleWomen, Inc. and the National Cattlemen's Foundation.
A highlight of the 2019 Summer Meeting will be the report later today on the Rate of Return Research that has once again been done by Dr. Harry Kaiser of Cornell University. In 2014, Kaiser reported that for one dollar invested by cattle producers into the Dollar Per Head Beef Checkoff, $11.20 came back. His research came from looking at the efforts of the checkoff from 2006 to 2013. The report released today will provide an updated number based on the latest checkoff investments and work internationally and domestically. Details on that coming- and we hear it will be a better number than reported by Dr. Kaiser in 2014.
In addition, cattle industry members will meet in both NCBA Policy committees and subcommittees, as well as Joint committees and subcommittees to discuss current developments, to work on initiatives developed at the Annual Cattle Industry Convention and to make plans for the upcoming fiscal year that begins October first.
Oklahoma cattle producer Chuck Coffee of Springer will lead the meetings of the Cattlemen's Beef Board, while Jennifer Houston of Tennessee is doing the same on the NCBA side of the ledger as the President of that organization.
The Oklahoma Cattlemen's Association is the trusted voice of the Oklahoma Cattle Industry. With headquarters in Oklahoma City, the OCA has a regular presence at the State Capitol to protect and defend the interests of cattlemen and cattlewomen.
Their Vision Statement explains the highest priority of the organization- "Leadership that serves, strengthens and advocates for the Oklahoma cattle industry."
To learn more about the OCA and how you can be a part of this forward-looking group of cattle producers, click here for their website
. For more information- call 405-235-4391.
The United States Department of Agriculture released its latest Crop Progress Report for this week on Monday, July 29, 2019 according to which the corn and soybean crops have managed to avoid any deterioration in their conditions since last week. Nationally, the US corn crop is rate at 58% good to excellent condition, better than the average trade guess for this week and an overall improvement from the prior week by one point. Last year at this time, corn's good to excellent rating was at 72%. Corn silking is at 58% this week, well behind 90% last year at this time and the five-year average of 83%. Corn dough is at 13%, behind 35% last year and 23% on average. The US soybean crop has been reported at 54% good to excellent, unchanged from last week and on par with the average trade guess. Last year, the US soybean crop was rated 70% good to excellent at this time. Soybeans blooming this week is rated 57% versus 85% last year and 79% the average. Setting pods is at 21% this week, compared to 58% last year and 45% on average. A shift in the ten-day forecast has raised concerns of a potential expanded period of dryness as the main weather concern for the near future. Click here to review the full USDA Crop Progress Report for the week of July 29, 2019.
Across the Southern Plains, meanwhile - pasture and range conditions are beginning to show signs of deterioration.
In Oklahoma, pasture and range condition this week in Oklahoma are reported at 5% poor to very poor, 29% fair and 66% good to excellent. To review the full Oklahoma Crop Progress Report for this week, click here.
In Kansas, pasture and range conditions rated 1 percent very poor, 4 poor, 26 fair, 57 good, and 12 excellent. To review the full Kansas Crop Progress Report for this week, click here.
Finally, across Texas, pasture and range this week rates 53% good to excellent, 29% fair and 18% poor to very poor. To review the full Texas Crop Progress Report for this week, click here.
To sum up the current pasture and range condition here in the Southern Plains- here's the Good to Excellent Ratings for this week and the change from last week:
Oklahoma 66% -10%
Kansas 69% -6%
Texas 53% -5%
The drop in the poor to very poor categories are reflected below:
Oklahoma 5% -2%
Kansas 5% -1%
Texas 18% -4%
According to OSU Extension Livestock Market Economist Dr. Derrell Peel, weak hide values are impacting the strength of cattle prices. In his article in this week's Cow/Calf Corner newsletter, Peel explains that on average, beef by-product values represent about 10 percent of fed cattle prices. Over the last 18 months, he says by-product values have been eroding sharply with weekly values continuing to decline.
"Hides make up the single largest component of by-product values but a weak global hide market has sharply eroded hide and, thus, total by-product values," Peel writes. "A variety of economic factors all contribute to the global weakness in hide values. Hide supplies are larger as a result of increased cattle numbers and slaughter, especially in Brazil and the U.S. Some hides are being salted and stockpiled which may limit value improvement going forward."
China is the major global buyer of hides and demand in China is hampered by tariffs and trade disruptions and by stronger environmental regulations impacting small tanneries. Hide values are so low that more hides are being rendered in some markets and some hides are not worth marketing in other markets. In Australia, for example some hides are being exported for a loss simply because the cost of environmental regulations to dispose of the hides is a greater loss. Other factors affecting hide values are exchange rates and less demand for leather in luxury cars and footwear, which are using more synthetic materials.
Peel adds that, "Beef by-product values, especially hide values, are often considered a bit of a bellwether of global economic conditions. As such, by-product values bear watching in the coming months." Click here to read Peel's full analysis of the erosion of hide values and its influence on the market.
All eyes are on this week's trade negotiations in China, according to American Farm Bureau President Zippy Duvall. In a statement released Monday, Duvall remarked that "reopening the door to one of the largest markets in the world is key to helping farmers get back on their feet."
US Trade Representative Robert Lighthizer will be in China this week for another round of trade negotiations and to potentially put an end to the ongoing trade war between China and the US once and for all. Speaking on behalf of all American farmers who have bared the brunt of this trade war, encouraged the Administration to seek a final resolution and conclude these negotiations as soon as possible to end the continued plight of farmers that has resulted from this trade war.
"We wholly support the Administration's efforts to stop unfair trade practices by China. Now, it's time to write the next chapter in our trade relationship by eliminating tariff barriers," Duvall stated. "American agriculture can compete with anyone in the world on a level playing field. I hope this week's talks create that opportunity."
According to AFBF, from 2017 to 2018, U.S. agricultural exports to China fell more than 50 percent, dropping to $9.1 billion. This is in stark comparison to 2014, when U.S. agricultural exports to China exceeded $24 billion. From 2000 to 2017, U.S. agricultural exports to China actually increased by 700%. Click here to read the full statement issued by Duvall on our website.
It's great to have one of the premiere businesses in the cattle business partner with us in helping bring you our daily Farm and Ranch News Email- National Livestock Credit Corporation. National Livestock has been around since 1932- and they have worked with livestock producers to help them secure credit and to buy or sell cattle through the National Livestock Commission Company. They also own and operate the Southern Oklahoma Livestock Market in Ada, Superior Livestock, which continues to operate independently and have a major stake in OKC West in El Reno. To learn more about how these folks can help you succeed in the cattle business, click here for their website or call the Oklahoma City office at 1-800-310-0220.
At the recent Oklahoma Cattlemen's Association Convention we caught up with Jennifer Houston, owner/operator of East Tennessee Livestock Center and president of the National Cattlemen's Beef Association. Houston shared with us her perspective on the current state of the industry based on her travels across the country meeting with producer and what future opportunities she sees lying on the horizon.
"I've had the opportunity to go to a lot of states and state meetings and by and large I think (producers) are pretty optimistic. I'm optimistic... Everybody talks about some prices - cull cows in particular - they'd like to see a little higher, but demand remains very strong both domestically and internationally," Houston said. "So, we're not in a terrible place and I think most people are optimistic about there being some opportunities for the beef industry for this year and the coming year."
Specifically, Houston says there is significant potential for the US to either open new markets or to gain greater access to existing markets and export more domestic product around the globe. In addition, new opportunities with traceability and animal identification are currently being explored as well. Houston says this is one issue that the industry is not totally unified on yet, but says stakeholders certainly recognize the benefits a traceability system would offer in terms of the development of value-added programs and increased control of risk related to the spread of disease.
Listen to mine and Houston's full conversation regarding the current state of the cattle industry and the opportunities she sees on the horizon, on yesterday's Beef Buzz - click here.
The U.S. Grains Council (USGC) opened its summer annual meeting Monday in Cincinnati by examining major short-term and long-term market trends for U.S. feed grains and the future of the organization's market development work.
At the 59th Annual Board of Delegates Meeting, USGC President and CEO Ryan LeGrand was introduced to the organization's membership. LeGrand expressed his measured enthusiasm about the Council's role in finding new and more robust markets for U.S. grains with a $20 million allocation from the Agricultural Trade Promotion (ATP) program.
Ron Dulin, a consultant from Euromonitor International, and Ken Smithmier, director of market research for agricultural markets at ClipperData, gave keynotes overviewing trends in the marketplace of today and population growth that will drive future markets.
Today's schedule will focus on emerging markets for U.S. grains and ethanol, with the Cincinnati meetings culminating on Wednesday with the Council's Board of Delegates meeting, appointment of A-Team leaders and election of a new board of directors.
More from the meeting is available on social media, using the hashtag #grains19 or by clicking over to our website where you can read more about the event.
Oklahoma Farm Bureau members are encouraged to gather together during the organization's annual August Area Meetings held Aug. 5 through Aug. 29 throughout the state.
The meetings signify the kickoff of the OKFB grassroots policy development, as well as an opportunity to learn about the latest organizational activities.
Plan to attend your district meeting, and make sure to invite your fellow Farm Bureau members, as we continue the great tradition of providing a grassroots voice for agriculture and rural Oklahoma. Check out the schedule for this year's Area Meetings on our website, here.
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