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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.
Justin Lewis of KIS futures is taking a few well deserved
days of vacation. He returns with his market analysis this
Oklahoma Farm Report Team!!!!
Senior Farm Director and Editor
Associate Farm Director and Editor
Calendar and Template Manager
Markets and Production
Macey Mueller, E-mail
and Web Writer
Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Dr. Tom Field Shares His Vision for the Beef
Industry at the Oklahoma Cattlemen's Convention
It is all about attitude, claims Dr. Tom Field of
the University of Nebraska, when it comes to dealing with change in
the industry. Although change is nothing new, Field says that beef
producers work in tradition and it is understandable why people would
be hesitant to address an evolving consumer base. Dr. Field says the
change the industry is facing is not about giving up its mission or
core values, but rather improving and advancing protocols, practices
"We have a premium product," Field said, "so let's
behave like we have a premium product."
According to Dr. Field, even during challenging times in the
marketplace, consumers will always find ways to enjoy premium
experiences. He says that while we should be careful not to let
prices get much higher than they already are for the product,
consumers are sticking with the industry - hungry for beef and
willing to pay for it.
The best feature about the product he says, is the fact that it is
available fresh. On the other hand, though, he says there are several
areas that are lacking and uninspiring. These areas include,
packaging, developing quicker access and preparation, even increased
spending for promotion.
"When I look at other companies and their marketing and R&D
investment compared to the beef industry, a dollar is like a
participation ribbon. We're participating with that, but we're not
moving," Field said. "I'm on the high-end compared to most
folks. I sure ought to be putting five to ten bucks a head back into
my industry. Certainly, at least two to three bucks."
Dr. Field asserts that change is imperative to stay ahead in the
market with consumers that are never consistent. However, he
clarified that change must be done collectively. His opinion is that
producers need to think and work like artisans crafting a premium
product, and consider how it fits into the dietary choices of
consumers. He pointed out that although the consumer base is very
segmented, there is also tremendous opportunity for innovation within
AFR's Sam Knipp
and I caught up with Dr. Field during the OCA convention. Listen
to our full conversation.
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Ely of Duncan Named 2016 Cattleman of the Year by the OCA- Blayne
Arthur, Scott Biggs and Debbie Wedel Also Honored
There was a lot of excitement in the meeting rooms and the hallways
at the Embassy Suites in "South Moore" this past weekend-
with the OCA holding their convention and trade show for the first
time in the facility. One of the highlights of the 2016 Convention
was the announcement on Friday night of the 2016 Cattleman of the
Year. The 2016 recipient of this award given by OCA was Lloyd Ely of Duncan.
Ely knew at an early age that his calling in life was to care for the
land God had provided. Lloyd was born and raised north of Velma on
the same property that is part of Sugarloaf Ranch today. His father,
A.V. "Doc" Ely, started out as a sharecropper on the land
in 1929. He slowly acquired land until his death in 1999.
The Sugarloaf Ranch was established in 1959 as Lloyd and his wife
Sheila bought a thousand acres of land just north of Velma. A
Hereford cow-calf herd was the foundation of the ranch. Lloyd
harvested wheat and grew alfalfa for hay. Sheila has maintained
meticulous operation records from the beginning. In 1991, Lloyd and
Sheila were honored with the Oklahoma Farm Bureau Farm Family of the
here to read more about the Ely family and the legacy they have
established for generations to come.
Our Top Ag Story of the morning on the OCA convention also contains
Q&A that we did with OCA President Charlie Swanson,
and mention of several other honors handed out on Friday.
Besides the Cattleman of the Year- three other honors we will mention
Debbie Wedel of Yukon was selected as the Oklahoma Cattlewoman of the
Year- she was honored by the Oklahoma Cattlewomen at their Awards
The OCA presented their 2016 Legislative Appreciation Award to State
Biggs, who serves State House District 13 in and
around the Chickasha area. Biggs has been one of the Legislative
leaders in passing the underlying legislation for State Question 777,
the Right to Farm Constitutional Amendment proposal.
The Organization also presented their 2016 Distinguished Service
Award to Blayne
Arthur for her years of work as the Deputy
Commissioner of Agriculture at the Oklahoma Department of
Agriculture. Arthur has recently made a career path change- moving
from the ODAFF to the Oklahoma 4-H Foundation, where she has taken on
the job of Executive Director of the Foundation.
Cattle on Feed Report Indicates a "Leaner and Meaner"
Industry, Dr. Derrell Peel Explains
According to the the latest USDA Cattle on Feed
report, the number of cattle and calves on feed was up 1 percent over
July 1, 2015, and OSU Extension Livestock Market Economist Dr. Derrell Peel
says the report came in friendlier than expected.
The inventory included 6.87 million steers and steer calves, down 1
percent from the previous year. This group accounted for 66 percent
of the total inventory. Heifers and heifer calves accounted for 3.49
million head, up 5 percent from 2015. Placements in feedlots during
June totaled 1.53 million head, 3 percent above 2015. Net placements
were 1.46 million head.
Radio Oklahoma Network's Ron Hays caught up with Peel at the Oklahoma
Cattlemen's Association Convention in Norman on Saturday after the
release of the report Friday afternoon. Peel says feedlot inventories
are slowly but surely building, but it's taking some time because of
the increased rate of turnover.
"This continues the trend of year-over-year increases in
placements, and that's going to continue for many more months,"
he says. "But at the same time, because we have really got these
feedlots much more current and we're continuing to get them current,
we're in pretty good shape to handle those larger numbers as they
come at us in the second half of the year."
Marketings of fed cattle during June totaled 1.91 million head, 9
percent above 2015. Peel says the industry has really started to
rebound after "a heck of a wreck" last fall when cattle
"We've done a remarkably good job this year, having rebalanced
prices and given feedlots an opportunity to look at being able to buy
more feeder cattle with at least a possibility of a margin that works,"
he says. "We've really converted this thing so even though we're
in a larger numbers situation right now, I'm very encouraged that the
industry is leaner and meaner right now than it has been for about
two or two-and-a-half years."
here for a link to the full report and to listen to Peel talk
more about the cattle industry, including carcass weights and cow
herd numbers, during the latest Beef Buzz.
Federal Reserve of KC
Says Early Indications Point to Some Borrowers Struggling to Repay
The need for farm lending remained high in the second
quarter of 2016, driven by ongoing demand for operating loans,
according to the Federal
Reserve's Agricultural Finance Databook. Respondents
to the Survey of Terms and Bank Lending to Farmers indicated the
total number of non-real estate loans made to farmers in the second
quarter increased 6 percent from a year ago.
The prolonged environment of robust lending activity, amid
persistently weak profits in the farm sector, has led to slight
reductions in the performance of agricultural loans at commercial
banks. According to first quarter commercial bank Call Report data,
the share of outstanding loans for farm production that were 30 to 89
days past due crept closer to the 10 year average from 2005 to 2014,
while the share of non-accruing loans has edged up the past two
quarters and loans 90 days or more past due remained relatively
steady. Although the share of troubled loans has remained low from a
historical perspective, the increase in loans 30 to 89 days past due
could be an early indication that borrowers are struggling to repay
loans in a time of tight profit margins.
In addition, the share of net charge-offs at agricultural banks also
edged up. The first quarter was the first in recent years in which
the share of net charge-offs at agricultural banks was roughly equal
to that of its non-agricultural peer group.
Despite the slight declines in loan performance and heightened risk,
however, profitability at agricultural banks generally has remained
The report concludes by saying "The lending environment in the
farm sector has remained active despite ongoing indicators of growing
risk. Demand for short-term financing has continued to increase
during a period of persistently weak profit margins while past dues
have crept higher in recent quarters. Banks appear to have taken some
measures to manage potential risk of further pressure on farm
finances; however, a protracted period of high loan demand and
weakening credit conditions could intensify the challenges in the
farm sector and at agricultural banks."
here for a link to the report, complete with graphs
explaining the details of the Databook.
Farm Shows is our longest running sponsor of
the daily email- and they say thanks to all of you who participated
in their 2016 Oklahoma City Farm Show.
Up next will be
the Tulsa Farm
Show in December 2016- the dates are December 8th,
9th and 10th. Now is the ideal time to contact Ron Bormaster
at 507-437-7969 and book space at the 2016 Tulsa Farm
Show. To learn more about the Tulsa Farm Show, click here.
Soybean Association, Monsanto Applaud European Approval of New
American Soybean Association (ASA) President and
Greenwood, Del., soybean farmer Richard Wilkins welcomed news out
of Brussels Friday that the European Union (EU) has approved three
outstanding biotech soybean traits for import and processing. The
approved traits include the Xtend dicamba-tolerant soybean and
Vistive Gold high oleic soybean products from Monsanto, and the
Balance GT FG72 soybean from Bayer CropScience. In a statement,
Wilkins welcomed the action of the EU, while noting that improvements
still are needed in the timeliness of EU approvals. The three soybean
events had received positive scientific opinions from the European
Food Safety Agency over a year ago, and had been waiting for final
approval by the EU Commission since January.
"We are very relieved to see these three traits approved for
import into the European Union, as today's announcement represents a
clearing of an important hurdle for the commercialization of these
valuable products in the U.S. In Europe, the approval means that the
EU's livestock and feed industry, which is more than 70 percent
dependent on imported feed, can get the high-quality protein it
needs. In the U.S., American farmers need an ever-increasing range of
tools to tackle the challenge of resistant weeds that now impact
nearly every soy-growing state. Similarly, with the continuing move
away from trans-fats in American diets, farmers need additional tools
to produce soybeans that meet that market demand as well."
Company also hailed the decision allowing for the import and
food/feed use of Roundup Ready 2 Xtend soybeans into the European
"We've seen great demand from growers for Roundup Ready 2 Xtend
soybeans," said Brett
Begemann, Monsanto President and Chief Operating
Officer. "Farmers are telling us they're looking forward to the
benefits of the full Xtend Crop System, including over-the-top use of
dicamba and glyphosate. We're excited to give Canadian growers this
opportunity in 2017, along with US growers pending final EPA
here for more on Monsanto's reaction to the decision.
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Agri-Women Announces Support for State Question 777
Oklahoma Agri-Women has officially announced its
support for State Question 777, Oklahoma's Right to Farm, a proposed
amendment to the Oklahoma Constitution that will protect farming and
ranching practices for farmers large and small across Oklahoma.
Oklahoma Agri-Women is a state affiliate of American
Agri-Women, which is the nation's largest coalition of farm, ranch
and agribusiness women with more than 50 state, commodity and
agribusiness affiliate organizations throughout the country.
"Our members are college students, wives,
mothers, consumers and agricultural producers," said Kristi Bishop,
Oklahoma Agri-Women president. "We recognize the importance of
passing SQ 777 to protect farmers, ranchers and consumers in our
state. Passing SQ 777 will ensure that farmers and ranchers in
Oklahoma can continue to provide safe, healthy and affordable food
choices for all Oklahomans."
The mission of Oklahoma Agri-Women is three-fold; to
unite women in all segments of the Oklahoma food, fiber and
agriculture industry having mutual concerns; to keep Oklahoma
Agri-Women members informed of legislation that is of concern to
Oklahoma's agriculture industry while remaining nonpartisan; and to
educate consumers, elected officials and the general public about the
importance of agriculture to Oklahoma's economy and environment.
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