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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
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:
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, August 16, 2019
The Department of Agriculture will defer accrual of interest for all producers' spring 2019 crop year insurance premiums. USDA says the move will help farmers impacted by extreme weather this year.
USDA will defer the accrual of interest on spring 2019 crop year insurance premiums to the earlier of the applicable termination date or for two months, until November 30, for all policies with a premium billing date of August 15, 2019. For any premium that
is not paid by one of those new deadlines, interest will accrue consistent with the terms of the policy.
One of the largest operating costs for producers is crop insurance premiums paid to their Approved Insurance Provider. Many spring crop insurance premiums are due before October 1. Without the interest deferral, policies with an August 15 premium billing date
would have interest attached starting October 1 if premiums were not paid by September 30.
Now, policies that do not have the premium paid by November 30 will have interest attached on December 1, calculated from the date of the premium billing notice.
You can read more about the RMA's announcement,
by clicking or tapping here.
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long-term fixed rates or short-term loans for running your agricultural operation.
With 17 locations serving 60 counties, we're locals, too. Find
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Moisture from last week's rains were unfortunately not enough to slow the growing momentum that continues to intensify the current flash drought situation that much of Oklahoma has found itself in after months of being drought-free.
State Climatologist Gary McManus reports this week that while some areas improved where rain fell heaviest across the state, other areas have fallen victim to the drought cycle causing what moisture they did receive to quickly evaporate and
allow the drought's effects to progress.
You can see the change since last week in the map above, with the last 30 days being key, although deficits are starting to bulge even over the last 60 days. With coverage (D1-D4) at 23.63%, there actually has not been this much drought extent since Sept.
Prospects for curtailing the current dry spell do not look good. Expect to continue to see rain chances around the periphery of the heat dome, but at this point no major precipitation events are forecast - only more heat.
For a closer look at this week's Drought Monitor Map or to review McManus' latest report on the Mesonet Ticker,
During the 2019 Oklahoma Wheat Review, OSU Extension Grain Market Economist
Dr. Kim Anderson
offered a rather bleak outlook for the future of the US wheat industry, remarking that given the current market dynamics, producers should not expect the price of wheat to improve much past $5/bu. over the next 10 years.
However, Jimmie Musick, a wheat producer from Sentinel, Okla. and immediate past president of the National Association of Wheat Growers, says his outlook is a bit more optimistic.
"There's a lot of potential out there. Cattle prices are not great, but nothing puts weight on a steer like wheat pasture does," he remarked. "So, there's still some potential for some profit out of the cattle business. Dual-purpose wheat has always worked
very well and it'll still work - not as good as it has in the past - but there's still potential for profit out there."
Musick contends that if the international trade climate improves any time in the near future that the US wheat industry could potentially benefit from a significant lift in economic pressure.
"The trade and embargo issues have just about worn the farmers out and it's time to make a deal," Musick said. "And, we think he will. We're still slightly optimistic that we're going to see some really beneficial trade partners coming on. I really think
that if we can get these export markets opened up and be able to move more product, I think we have a chance to get wheat back to where it should be and we're really looking forward to that happening."
here to hear more of Musick's thoughts on the US wheat industry's future prospects.
Today, at Express Ranches' Big Event Sale at its Yukon Headquarters, lunch will start at 12:00 p.m. followed by your chance to bid on 265 fall-calving 2-year-olds and cows offered at 1:00 p.m.
On Saturday, breakfast will begin at 7:30 a.m. with the Big Event sale beginning at 11:00 a.m. Cattle that will be featured in the sale include:
Outstanding Spring Bred Heifers
Elite Fall Yearling ET Heifers
Fall-Calving Two Year-Olds
Spring-Born Show Heifers
Spring-Born Elite Donor Prospects
President of Express Ranches, Jarold Callahan sat down with me last week for an interview discussing this year's offering which he says feature the best of the best of Express Ranches' Angus females. Click
here to listen to that complete discussion with Callahan for more details on this weekend's sale.
As Oklahoma's largest John Deere dealer, P&K Equipment is proud to be your local expert source for equipment, parts, and service. As an Oklahoma-based, family-run company, the P&K network consists of 16 locations in Oklahoma, 2 locations
in Arkansas, and 9 locations in Iowa. Our Oklahoma and agricultural roots run deep and our history spans over 30 years.
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.
Colorado State University's Dr. Jason Ahola has been involved with research designed to study the tangible value that participating in the Beef Quality Assurance program can add back to cattle producers' bottom lines. He
shared some of the findings of that research recently during the 2019 National Cattlemen's Beef Association Summer Business Meeting and expounded on the details of that study with me.
"At the end of the day, the premium turns out to be about $17/head for a calf or feeder cattle that are sold," Ahola said. "That's a premium on a program that doesn't really cost that much to participate in and a lot of producers honestly are hopefully
doing a lot of these things anyway. It's just a way of sort of validating that or verifying it and putting it in the marketing and promotional materials for your lot of cattle to let buyers know 'this is how I raise my cattle.'"
The premium Ahola refers to in the study are being paid to producers by those people buying their cattle. However, he believes participating in the BQA program actually holds potentially even more value for producers further down the road if one day used
in marketing targeting end-users - that is the beef consumers themselves.
You can listen to the whole conversation between Ahola and I on Thursday's Beef Buzz -
On this week's episode of SUNUP, host Kurtis Hair and Oklahoma State University Extension Grain Market Economist
Dr. Kim Anderson discuss the $.35/bu price decrease seen in the wheat market this week. Anderson says the USDA World Agricultural Supply and Demand Estimates may to be blame for the fall in price.
"The WASDE report was released last Monday, and it did not meet expectations, especially with corn," he said. "The pre release estimates had corn at 13.2-billion-bushel production, it can in at 13.9."
Anderson says wheat has been priced with corn, when corn prices drop, wheat prices drop with them. In the WASDE, they raised the U.S. wheat production 60 million bushels, with the majority of that being hard red winter wheat and the rest being hard red
spring wheat. Anderson said the increase in production caused some weakness in the wheat market. The hard red winter wheat protein overall for the U.S. is coming in around 11.2 to 11.3%, while Oklahoma averaged 11.4%. Anderson said the market needs 12 to 12.5%,
so our wheat is being priced in the feed market.
"You go back a couple months, we were expecting Russian production to be 2.85 billion bushels, right now it is at 2.68 billion bushels," he added. "Last year it was 2.64 billion bushels, so it is just slightly higher this year than it was last year. Below
expectation, but Ukraine increased production and offset that decline in Russia's production."
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.
Superior Livestock Auction Hosts Big Horn Classic
Superior Livestock Auction will be on the road again this time landing in Sheridan, Wyoming hosting their "Big Horn Classic" from the Holiday Inn August 19-23, 2019. Cattle producers offering 208,800 head of calves, feeders and breeding stock from all across
the country. The auction kicks off each morning with a live broadcast of Superior Sunrise at 7:30 am Mountain Time.
"Big Horn Classic" will be broadcast live on DISH channel 997(SLA-TV) and will stream live on Superior Livestock Auction's
Click To Bid website.
This year's sale features 300 Holsteins; 22,000 yearling steer; 18,650 yearling heifers; 49,150 weaned calves; 116,300 calves on cows; and 2,400 bred stock.
www.superiorlivestock.com to view our online auction catalog. For a buyers' number or more information call Superior's Fort Worth office at 800-422-2117.
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