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Check the Markets!
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
here for the report posted yesterday afternoon around 3:30 PM.
Cash Grain Prices- as reported by the Oklahoma Dept. of
Agriculture. (including Canola
prices in central and western Oklahoma)
Oklahoma Farm Report Team!!!!
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Markets and Production
Editor and Contributor
Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, November 24, 2015
USMEF Battles Stronger Dollar and Australia for U.S.
Beef Exports, Analysis from CEO Phil Seng
beef exports have had their challenges worldwide in 2015. U.S. Meat Export Federation
(USMEF) President and CEO Phil
Seng said the worldwide trade in beef has been down,
as well as for the United States. To date, U.S. beef exports are down
about 12 percent on volume and about eight percent on
value. The U.S. has been challenged in having a
stronger U.S. dollar, which makes it more difficult to compete in a
global market place. Seng said the U.S. dollar has appreciated by 20
percent. That has made U.S. beef and other products 20 percent more
expensive around the world.
U.S. beef exports to Japan are down about 15 percent. Seng attributes
that to Australia and Japan reaching their Economic Partnership
Agreement (EPA). This provides the Australians with a ten percent
duty on frozen beef and about an eight percent duty on chilled beef.
Seng said the Australians are working very hard to establish
themselves in that market.
The structure of the Australian beef industry is also changing, which
is putting the country in direct competition with the United States.
Australia used to produce mostly grass-fed beef. Today about half of
the beef shipped from Australia is grain-fed beef. Seng said that's
helping Australia mitigate their latest drought in putting cattle in
feedlots. That's also pinning U.S. beef in direct competition of
The U.S. continues to battle back from losing global market share
from having its first Bovine spongiform encephalopathy (BSE) case in
2003. When the U.S. was out of those markets, Seng said our
competition, like Australia, started to provide a product that the
U.S. had once provided. That makes it all the more difficult to get
back into these markets.
The U.S. beef industry also continues to watch the Trans-Pacific
Partnership (TPP) agreement. Seng said TPP is critical to the beef
industry in exporting to these Asian-Pacific countries. Once TPP is
ratified, he said the duty or tax on U.S. beef would drop from 38.5
percent to 27.5 percent.
I featured Seng on this morning's Beef Buzz. Click
or tap here to listen to today's Beef Buzz.
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U.S. Sorghum and
Peanut Harvest Almost Done, Cotton Harvest Remains Behind Schedule
The nation's sorghum and peanut harvest has nearly
wrapped up. The U.S.
Department of Agriculture Monday reported the
nation's sorghum harvest was 94 percent complete. Peanuts were 96
percent harvested. Both were in line with the five year average.
Nationally, cotton harvest was 70 percent complete. That's 12 points
behind the average.
The nation's wheat crop condition improved slightly this week. USDA
reported 53 percent of the crop was in good to excellent condition,
37 percent fair and ten percent in poor to very poor condition. The
crop gained one point in the good category. A year ago this week, 58
percent of the crop was in good to excellent condition.
for the full National Crop Progress report.
here for the full Oklahoma report.
here for the full Texas report.
here for the full Kansas report.
OSU's Livestock Marketing
Specialist Derrell Peel Finds Beef Market in Transition
Derrell Peel, Oklahoma State
University Extension Livestock Marketing Specialist, offers his
economic analysis of the beef cattle industry. This analysis is a
part of the weekly series known as the "Cow Calf Corner"
published electronically by Dr. Peel and Dr.
Glenn Selk. In this week's
analysis- Dr. Peel focuses on the prospects of U.S. beef production
for the coming year.
"Total 2015 beef production in the U.S. is
expected to decrease about 2.5 percent year over year from 2014 and
would be the lowest annual beef production in the U.S since 1993.
However, herd expansion, which began in 2014, is continuing in 2015
and means that beef production will begin increasing, perhaps three
to four percent year over year, in 2016. The slight increase in the
2014 calf crop has been mostly offset by increased heifer retention
and fewer Mexican and Canadian feeder cattle imports in 2015. The
July 1 estimate of feeder supplies was up 1.8 percent year over year.
Good forage conditions may be keeping some feeder cattle on pastures
longer this year. Feeder supplies are growing, but rather slowly at
the current time.
"In any event, the supply of cattle in feedlots has not yet
begun to increase. October feedlot placements reported in the latest
Cattle on Feed report were down 3.7 percent from one year ago. This
is the fourth consecutive month of year over year decreases in
feedlot placements and, in fact, monthly placements have been below
year earlier levels in 11 of the past 13 months. In the past six
months, total feedlot placements are 452 thousand head less than the
same period in 2014. While feedlot placements are expected to begin
increasing in the coming months, it is clear that feedlot numbers
will remain tight through the first half of 2016."
here to read more about backlog of heavy cattle and why Peel is
optimistic about fed cattle markets in early 2016
U.S. Grain Prices Buried
Under Large Supplies, Market Outlook from CHS Hedging
One market analyst isn't afraid to provide honest
insight into marketing this year's wheat, corn, soybean and sorghum
Hedging Market Analyst Richard Plackemeier
said he won't tell farmers what they want to hear, because
"hope" is not a good marketing strategy. While farmers hope
that commodity prices will trend higher, Plackemeier isn't so
"Producers are kind of holding the bag right now,"
Plackemeier said. "I don't really sense that we're going to have
a lot of great opportunities. We're going to probably be very range
bound in our prices here for wheat and other commodities also, at
least through the end of the year and probably going into next
The outlook for wheat prices is grim. There's plenty of wheat
worldwide and demand is being met through cheaper sources than the
U.S. The stronger U.S. dollar has limited U.S. wheat exports and that
doesn't paint a very bright picture for farmers that haven't sold
their 2015 wheat crop. Plackemeier said export demand for U.S. wheat
is at its lowest level of the past ten to 15 years. In looking at the
next six to 12 months, he doesn't anticipate strong gains in the
nation's wheat exports. Plackemeier hopes that farmers sold at least
part of their crop at harvest or at least earlier this year, so the
current prices would be the lowest that a farmer would receive. With
the nation's wheat crop off to a decent start there aren't any
production concerns. With large grain stock supplies and a lot of
competition, he said the U.S. may have to sell at lower prices to
Smith interviewed Plackemeier at the recent
National Association of Farm Broadcasting Convention in Kansas
or tap here to hear the full interview as he discusses the
outlook for corn, soybeans and sorghum.
We are proud to
have KIS Futures
as a regular sponsor of our daily email update. KIS Futures provides
Oklahoma farmers & ranchers with futures & options hedging
services in the livestock and grain markets- click here for
the free market quote page they provide us for our website or call
them at 1-800-256-2555- and their iPhone App, which provides all
electronic futures quotes is available at the App Store- click
here for the KIS Futures App for your iPhone.
USDA Announces $350
Million to Protect and Restore Grasslands, Wetlands, and Working
U.S. Agricultural Secretary Tom
Vilsack Thursday announced the
availability of $350 million to help landowners protect and restore
key farmlands, grasslands and wetlands across the nation. The funding
is provided through the Agricultural
Conservation Easement Program (ACEP), created by the
2014 Farm Bill to protect critical water resources and wildlife
habitat, and encourage private owners to maintain land for farming
and ranching. Through the voluntary sale of an easement, landowners
limit future development to protect these key resources.
"The benefits of restoring, enhancing and protecting these
working agricultural lands and critical wetlands cannot be
overstated," Vilsack said. "USDA is committed to preserving
working agricultural lands to help protect the long-term viability of
farming across the country as well as to restoring and protecting
vital sensitive wetlands that provide important wildlife habitat and
improve water quality."
ACEP's agricultural land easements not only protect the long-term
viability of the nation's food supply by preventing conversion of
productive working lands to non-agricultural uses, they also support
environmental quality, wildlife habitat, historic preservation and
protection of open spaces. Native American Tribes, state and local
governments and non-governmental organizations that have farmland or
grassland protection programs are eligible to partner with NRCS to
purchase conservation easements. Click
here to learn more about ACEP and other technical and
financial assistance available through NRCS conservation programs.
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broadcast journalist Jerry
Bohnen has spent years learning and understanding how
to cover the energy business here in the southern plains- Click here to
subscribe to his daily update of top Energy News.
OSU's Food &
Agricultural Products Center Offers Food Safety Tips for Your
you believe it???? Thanksgiving day is just two days away, and many
of you will be preparing holiday meals for your families and friends.
But don't let food poisoning be on the menu this year.
"Every year in the United States, approximately 48 million
people get sick because of some form of foodborne illnesses,"
said Ravi Jadeja,
food safety specialist for Oklahoma
State University's Robert M. Kerr Food & Agricultural Products
Center. "Of those, 128,000 are hospitalized or
need medical attention and, unfortunately, 3,000 people die every
FAPC offers the following tips to keep your family safe this festive
*Buy only government-inspected meat and poultry products, and check
the "sell by" date on all food purchases. Never buy
products if the expiration dated has passed.
*Wash your hands thoroughly before and after preparing any food
*Use two cutting boards: one for preparing raw meat, poultry and
fish, and the other for cutting cooked food or preparing salads.
To read more about food preparation, stuffing the turkey, cooking the
turkey, storing and eating leftovers, click
Exclusive Analysis- Oklahoma
Pasture Conditions The Best They Have Been Entering Winter Since
As we approach the end of November- we are coming to the end of the
weekly Crop- Weather reports that are issued by NASS- a part of the
USDA. The midwest is always focused on corn and soybean
plantings, conditions and harvest numbers- here in the southern
plains- we watch winter wheat and cotton and grain sorghum a great
deal as well.
However- we can
really see the impact of drought on the beef cattle business here in
Oklahoma if you look at the pasture and range conditions- and
consider the year to year changes. The pasture
conditions really model the forced liquidation that Mother Nature
dictated earlier this decade when drought pushed hundreds of
thousands of Mama Cows off the ranches in Oklahoma and neighboring
As we enter the winter season here in 2015- our pasture-range
conditions are in the best condition they have been in since at least
2010, with 43% rated good to excellent and only 17% in poor to very
That's a slight improvement compared to last November- and 2015 is
much better than the ratings of 2013, 2012, 2011 and even 2010.
Here's the Good-Excellent combined number for the last weekly report
of each of the last six years when it comes to pasture-range
conditions in Oklahoma:
The poor to very poor ratings soared to eighty to eighty one percent
in 2011 and 2012.
These ratings help explain both the liquidation as well as the rebuilding
in 2014 and 2015 of the Oklahoma Beef Cow herd.
With weather forecasters predicting a wetter than normal winter-
permanent pastures have the potential to come through the winter and
be in their best shape in many years next March-April.
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