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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 Ron Hays 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.
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:
Futures Wrap:
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
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, August 2, 2019
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Howdy Neighbors!
Here is your daily Oklahoma farm and ranch news update.
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 Featured Story:Kim Anderson Says if Producers Can't Raise Wheat for Less Than $5 a Bushel in 2020, They Should Look at Another Winter Crop
Analysts around the world are concluding that Russia will likely produce a smaller crop than previously expected. While some may expect this to raise the domestic price of wheat, OSU's Dr. Kim Anderson says that probably will not be the case. During his appearance on SUNUP this weekend, Anderson explains that this is because the above average production of other countries around the world will more than make up for what Russia has lost.
Total, world production is up 7%. And although lower than expected, Russia's crop will still be about 4% above average. Anderson says the supply pressure from around the world in will mostly likely suppress any support this adjustment creates for domestic prices. Given the situation, Anderson believes the market will likely not improve and advises producers with grain still in the bin to start thinking about selling it off.
For those producers making considerations about whether or not to plant wheat again this year, Anderson cites the latest ten-year projections which peg the average wheat price near $5.00 a bushel. He says if you can not viably produce wheat for that price, you should be considering your alternatives.
You can watch his visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now and see what else is on the lineup for this week's episode, by clicking here.
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Sponsor Spotlight
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With 17 locations serving 60 counties, we're locals, too. Find an office near you to talk to a lender who understands agriculture. Financing rural Oklahoma. Equal housing lender, NMLSR ID# 809962. Call us today at 866-245-3633 or go to www.okagcredit.com.
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Drought has returned to the state for the first time since this past March, according to the latest Drought Monitor. State Climatologist Gary McManus reports a lack of rainfall during June and July along with intermittent periods of hot, windy weather helped accelerate drought's development process despite the month being cooler than normal overall. According to preliminary data, this July ranked the 29th driest on record since documentation began in 1895.
 As you can see from the map above, nearly 6% of the state is in moderate drought according to the July 30 U.S. Drought Monitor report, and another 13% considered "abnormally dry," a drought precursor. Those designations cover most of the southwestern quarter of the state, with another area centered over Ellis County in the northwest. Drought development is considered likely across the western two-thirds of the state through the end of August according to the Climate Prediction Center's (CPC) monthly drought outlook. That drought development would be in addition to those areas that saw drought advance by the end of July.
Click here for a closer look at this week's Drought Monitor, or to review the latest comments from State Climatologist Gary McManus is the Mesonet Ticker report.
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While producers have traditionally participated in Beef Quality Assurance (BQA) because it's the right thing to do, there is sound research that indicates BQA certified producers can benefit financially as well. According to a recent study by the Beef Checkoff-funded BQA program and conducted by Colorado State University (CSU), results show a significant premium for calves and feeder cattle sold through video auction markets.
The research study "Effect of Mentioning BQA in Lot Descriptions of Beef Calves and Feeder Cattle Sold Through Video-based Auctions on Sale Price," led jointly by CSU's Departments of Animal Sciences and Agricultural and Resource Economics, was conducted to determine if the sale price of beef calves and feeder cattle marketed through video auction companies was influenced by the mention of BQA in the lot description. Researchers conducting the study found that BQA cattle commanded a premium of up to $16.80/head.
The results of the BQA value study emphasize the importance of transferring information from sellers to buyers as well as the importance of collecting BQA certification information during the auction process.
Jason Ahola, Ph.D. and professor of animal sciences at CSU, who spoke with us in Denver this week explained that, "By sharing the BQA status of the owner or manager of a set of cattle, the buyer can access information that is generally otherwise difficult to find in traditional marketing channels. It became clear that this information affected the ultimate selling price of the cattle."
For more information on the study or to listen to our full conversation with Ahola about the BQA program's value to a beef producer, click here.
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Randy Blach is chief executive officer of the beef industry analytics firm, CattleFax. During the 2019 Summer Business Meeting of the National Cattlemen's Beef Association in Denver this week, he offered a mid-year summary of the cattle business, according to which it seems the industry has done managed to perform well so far this year.
"We're getting along pretty good. We're not making a lot of money on cattle that are coming out of the feedyards but when you look at what we've accomplished year to date - the industry has done a good job at risk management," Blach said, noting that hedging was at its highest level in ten years. "So, producers took some of those profit opportunities and I think cash to cash losses are probably a little bit overstated when you take into account the risk management."
According to Blach, this heightened awareness and obvious engagement in risk management is a sign of a major shift in the minds of producers that has steadily formed over several years since markets became increasingly volatile. The whole process, he believes, has taken nearly 20 years for producers to wrap their arms around the concept of hedging, but says the actual catalyst that pushed them from theory to practice began in 2008 when markets became extremely unpredictable. Blach says this forced producers to realize the changes that had to be made in order to keep their businesses going. More than ever, he says producers are being smarter in terms of risk assessment in their marketing decisions and complacent with "singles and doubles rather than swinging for the fences."
Listen to our full conversation for more of his insights on the cattle business on yesterday's Beef Buzz - here - or click here to listen to his complete presentation delivered at this week's meeting.
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Sponsor Spotlight
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At P&K, we make it our mission to provide you with top-notch solutions and unbeatable customer service at a price you CAN afford. Visit pkequipment.com and you'll have it all at your fingertips: request a quote, schedule service, get a value for your trade, find current promotions, and shop for parts online. Stop by one of our locations today to meet the P&K team. You'll see why around here, John Deere starts with P&K.
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Superior Livestock announced yesterday that an agreement has been reached for the transition of the Fed Cattle Exchange, the online live cattle trading platform, to 5150 Production Company.
"With the sale of this platform the goal of the Fed Cattle Exchange remains the same," the announcement states, "to provide the industry with more transactions to consider when determining the average cash price of market-ready fed cattle. By increasing transparency in the cash cattle market, the industry hopes to reduce volatility in futures contracts.
"The need for assistance in fed cattle price discovery is very evident. Competitive bidding is the most effective means of determining market value and more open negotiated trading of fed cattle is beneficial to the entire beef industry; Fed Cattle Exchange brings both of these components to the marketplace and the team behind this effort remains dedicated to that cause."
5150 Production Company is expected to complete the purchase and take over operations on August 1, 2019. Click here to review the full announcement on our website.
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Sign-Up Now Open for Agriculture Market Facilitation Program
Agricultural producers whose commodities have been directly and negatively affected by what the Trump Administration has designated "unjustified foreign retaliatory tariffs" are eligible for financial assistance under the U.S. Department of Agriculture's Market Facilitation Program.
Larry Sanders, Oklahoma State University Cooperative Extension agricultural policy specialist, said the MFP is a partial income-replacement response to Chinese tariffs on U.S. agricultural products in that nation's trade dispute with the United States.
"Producers can sign up for MFP assistance at local Farm Service Agency offices through Dec. 6," Sanders said. "USDA offered a similar program last year, but this year's version instituted a few changes in response to input about how the 2018 MFP worked."
MFP provides payments to producers of qualifying non-specialty and specialty crops, as well as dairy and hogs. A complete listing of qualifying commodities is available through local FSA offices and online at www.farmers.gov/mfp. For complete details about this program and its eligibility requirements, click here to jump to the full article on our website.
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The 2019 Cattle Industry Summer Business Meeting wrapped up Thursday with a meeting of the National Cattlemen's Beef Association's Board of Directors. The meeting kicked off on Monday at the Gaylord Rockies Resort and Convention Center just outside Denver.
NCBA's policy committees met throughout the week to refine positions on public policy issues like international trade, access to public lands, dietary guidelines, and the marketing of fake meat. Producers also received updates on how their checkoff dollars are being invested to fund vital research and marketing efforts.
Among other events, seven cattle operations were also named regional finalists for the Environmental Stewardship Award Program (ESAP). This year's regional winners will compete for the national award, which will be announced during the Annual Cattle Industry Convention in San Antonio, Texas, in February 2020.
NCBA President Jennifer Houston remarked on the event's conclusion that "The decisions made this week will affect our industry's marketing and policy priorities for years to come."
Click here to read more about this year's meeting and all that was accomplished on behalf of the US beef industry.
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Our thanks to Midwest Farms Shows, P & K Equipment, AFR Insurance, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, the Oklahoma Cattlemens Association, and KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
God Bless! You can reach us at the following:
phone: 405-473-6144
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