|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!
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
Macey Mueller, E-mail and Web Writer
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, July 26, 2016
Row Crop Progress Looks Good Across Texas, Oklahoma and Kansas
The latest U.S. Department of Agriculture crop progress report rates 19 percent of the national corn crop in excellent condition, 57 percent in good condition, 19 percent fair and 5 percent percent poor to very poor. National soybean conditions include 15 percent excellent, 56 percent good, 22 percent fair and 7 percent poor to very poor. The national grain sorghum is 11 percent excellent, 54 percent good, 29 percent fair and 6 percent poor to very poor. National cotton conditions include 9 percent excellent, 43 percent good, 35 percent fair and 13 percent poor to very poor.
For the complete USDA Crop Progress report, click here. In the weekly crop progress report from USDA, Oklahoma corn silk reached 74 percent, down 10 points from the previous year and down 9 points from normal. Corn dough reached 18 percent, down 5 points from the previous year and down 14 points from normal. Sorghum headed reached 38 percent, down 1 point from the previous year and down 1 point from normal. Sorghum coloring reached 7 percent, unchanged from the previous year and down 1 point from normal. Soybeans emerged reached 90 percent, unchanged from the previous year but down 7 points from normal. Soybeans blooming reached 34 percent, up 7 points from the previous year and up 4 points from normal. Cotton squaring reached 65 percent, down 5 points from the previous year but up 4 points from normal. Cotton setting bolls reached 19 percent, up 2 points from the previous year but down 3 points from normal.Click here for the full Oklahoma report.Texas mature corn reached 41 percent last week. That's 11 points higher than this time last year. Sorghum harvest continued in some parts of the state and is now 30 percent complete, 12 points higher than last year but 5 points below normal. Across the state, sorghum was 80 percent headed, which is nearly right on par with the five-year average. Soybeans were 70 percent bloomed, up 20 points from last week and closer to the normal of 75 percent. Cotton squaring was at 82 percent, up 11 points from last week and 2 points higher than normal.Click here for the full Texas report.In the weekly crop progress report from USDA, Kansas corn condition rated 1 percent very poor, 6 poor, 26 fair, 57 good and 10 excellent. Corn silking was 86 percent, ahead of 75 last year and 76 for the five-year average. Corn dough was 13 percent, near 15 last year, but behind 26 average. Soybean condition rated 2 percent very poor, 8 poor, 34 fair, 50 good, and 6 excellent. Soybeans blooming was 56 percent, ahead of 43 last year and 50 average. Setting pods was 17 percent, near 13 last year, and ahead of 11 average. Sorghum condition rated 1 percent very poor, 3 poor, 25 fair, 62 good, and 9 excellent. Sorghum headed was 27 percent, ahead of 9 last year and 11 average. Coloring was 1 percent, near 0 both last year and average. Click here for the Kansas report.
The presenting sponsor of our daily email is the Oklahoma Farm Bureau - a grassroots organization that has for its Mission Statement- Improving the Lives of Rural Oklahomans." Farm Bureau, as the state's largest general farm organization, is active at the State Capitol fighting for the best interests of its members and working with other groups to make certain that the interests of rural Oklahoma are protected. Click here for their website to learn more about the organization and how it can benefit you to be a part of Farm Bureau.
|Deadline is August 1 to Sign 2016 Contract for Farm Law Safety Net Programs- PLC or ARC
Farmers and ranchers who chose coverage from safety net programs - Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) - have through Aug. 1 to sign contracts to enroll in coverage for 2016.
The choice between ARC and PLC has already been made by farmers and ranchers, but a contract must be signed each year for the farm to be eligible for program benefits.
Established by the 2014 Farm Bill, these programs generate financial protections for farmers and ranchers when the market experiences substantial drops in crop prices or revenues.
Covered commodities include: barley, canola, large and small chickpeas, corn, flaxseed, grain sorghum, lentils, mustard seed, oats, peanuts, dry peas, rapeseed, long grain rice, medium grain rice (which includes short grain and sweet rice), safflower seed, sesame, soybeans, sunflower seed and wheat.
Upland cotton is no longer a covered commodity.
Click here for links to more information on the programs and to find your local FSA office.
|TCFA President Ross Wilson Offers His State of the Southern Plains Feedlot Business
It is a challenging time for the cattle market, there is no doubt. It is a problem though Ross Wilson, president of the Texas Cattle Feeders Association, says could have been forecasted to a degree, given the ongoing nationwide herd expansion. With this and so many other factors contributing to the market's volatility right now, Wilson offered a State of the Southern Plains Feedlot Business, so to speak, calling it a very interesting time for the industry.One factor literally being felt by everyone right now, is the heat, and cattle are especially feeling it. Wilson says that fortunately for the cattle in the feedlots he represents, they enjoy a region that is a little higher in elevation, resulting in lower humidity. They are lucky too, because the plains tend to cool overnight, which he says is critical in helping cattle to cool down and better cope with heat stress.Aside from this, industry leaders have been working in concert across the country to address the recent market volatility over the last six to eight months, according to Wilson. He explained that an industry group, with involvement of the National Cattlemen's Beef Association (NCBA) and other state affiliates, has been meeting with representatives of the Chicago Mercantile Exchange (CME) to advocate for analyzation of a potential flaw in a current system of trade that involves high frequency computer generated commands based off algorithms that are conducted at incredible speeds. The group strongly believes this causes computers to build momentum that flows the market in one direction or the other to the point the computers begin to just trade between each other. Wilson says CME has made strides to help the situation but also remarked that they have not yet looked into what the group believes is the main problem. However, Wilson remains hopeful that a solution will come to light soon, with the enlisted help of Eric Hunsader of the Nanex corporation who is already investigating this issue.Lastly, Wilson examined the current trend of transparency and sustainability within the industry as it relates to consumer engagement. By the implementation of new technologies, practices and attitudes, Wilson believes there is a part that must be played by producers and industry leaders to cater to the demands of the consumer."The millennials and other generations are our future and we need to be able to address their desire for knowledge and some of the misinformation that is out there," Wilson said, "because we all know there are organizations and activist groups that continue to try to mislead the consumer and we need to be there to rebut that."Listen to my full conversation with Wilson as he offers his perspective on the state of the beef industry.
|Democratic Platform Wants Environmentally Sustainable Farm Policy
The Democrats are taking their turn in the spotlight this week in Philadelphia- and ag and rural issues are taking a fairly low profile- altho the Pacific Rim trade deal, the TPP, continues to be one of the high profile whipping boys, with failed Democratic Presidential candidate Bernie Sanders
urging defeat of the TPP- and calling for the Democrats to unite around the idea of no TPP vote during the lame duck session of Congress after the November elections. (Ag interests see that time period as the last best hope for a vote)
By the way- Hilary Clinton
's Running Mate, Senator Tim Kaine
of Virginia, is also in the anti TPP Camp, according to Chris Clayton of DTN.
Meanwhile, big ag is another whipping boy for some folks in Philly- and the Democratic Platform
seems to find that an agreeable position to be in. Included in the platform is this statement- "Democrats will increase funding to support the next generation of farmers and ranchers, with particular attention given to promoting environmentally sustainable agricultural practices
. We will encourage programs to protect and enhance family farms, a cherished way of life for millions of Americans. We will expand local food markets and regional food systems and provide a focused safety net to assist family operations that need support during challenging times."
One Ag related event has happened- and the second comes this evening. Last night, several groups that want an end to farm policy as we know it- under the banner of what they call Plate of the Union
, held a reception urging an end to support for crops like corn and soybeans- and only providing support to farmers who grow fruits and vegetables.
Tonight- companies and groups that would be considered more "main stream" ag are holding a reception with USDA Secretary Tom Vilsack
as a headliner. Farm Bureau, NFU, most of the major commodity groups are among those sponsoring that event.
We are happy to have the Oklahoma Cattlemen's Association as a part of our great lineup of email sponsors. They do a tremendous job of representing cattle producers at the state capitol as well as in our nation's capitol. They seek to educate OCA members on the latest production techniques for maximum profitability and to communicate with the public on issues of importance to the beef industry. Click here for their website to learn more about the OCA.
|Dr. Derrell Peel Confirms Cattle Situation Improving Citing New Cattle on Feed Report
On a weekly basis, Dr. 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. This week, Dr. Peel gives his analysis of the current cattle market in light of the recent Cattle on Feed report.
"The July Cattle on Feed report confirms that the feedlot situation continues to improve in 2016. Feedlot placements in June were up year over year but less than expected at 103 percent of last year. June marketings were as expected at 109 percent of last year; the largest June marketing level since 2012. The July 1 feedlot inventory was 101 percent of last year, up slightly less than expected as a result of the smaller placements.
"The result of herd expansion in 2014 and 2015 was a January 1, 2016 estimate of a 5.3 percent year over year increase in feeder cattle supplies. Those feeder cattle began showing up in feedlots with year over year increases in placements the past five months. Since February, feedlots have placed 572 thousand more cattle compared to the same period last year. However, over the same period feedlots have accelerated marketings to clean up the backlog that crashed fed cattle markets in late 2015. Feedlot marketings since February have increased 478 thousand head compared to one year ago. With the increase in marketings nearly matching the increase in placements, feedlot inventories are growing only slowly. With a faster turnover rate, feedlots are more current and continue to pull carcass weights down. In the latest weekly data, steer carcass weights were 875 pounds, 10 pounds less year over year, with heifer carcass weights down five pounds at 798 pounds. The Cold Storage report was also released last week and indicated that although beef in cold storage rose counter-seasonally by 1.1 percent from May to June, the June total was still 4.9 percent below year earlier levels.
to read Dr. Peel's complete analysis of the latest Cattle on Feed report.
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|New Rabobank Study Says Farmers Need to Manage Costs Aggressively to Up Their Odds of Economic Survival
Years of negative margins have U.S. row crop farmers facing a bleak outlook, and Rabobank
believes farmers must lower operation costs in order to survive.
A new report-Farming the Efficient Frontier: Crop Efficiency, Not Volume, Will Drive Future Financial Performance
-by the Rabobank Food & Agribusiness Research and Advisory group, which reviews the current costs of inputs and land and the projected supply and demand of commodities, explores the outlook for U.S. farmers.
The findings show the need to adopt efficiency-driven, rather than volume-driven, strategies in order for farmers to maximize profitability in an environment of lower commodity prices and high seed and input costs.Click here to read more
on this new report from Rabobank.
|Latest Boxed Beef Prices Trending Lower But Good Movement is Encouraging- Ed Czerwein Explains
On a regular basis, Ed Czerwein
of the U.S. Department of Agriculture Market News Office in Amarillo, Texas offers a review of the previous week's boxed beef trade. Here is his report of weekly boxed beef trade for the week ending July 23rd.
Czerwein says that pricing of Boxed Beef showed weakness- "The daily spot Choice box beef cutout ended the week last Friday at $200.09 which was $4.62 lower compared to previous Friday. There were 733 loads sold for the week in the daily box beef cutout which was 10% of the total volume
"The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $200.63 which was $3.51 lower and still very close to the daily close on Friday.
"There were 7184 total loads sold which was 566 loads higher than the previous week and one of the few weeks over 7000 loads which helps out quite a bit."Click here to read more
- and at that link- you can also listen we to Ed's commentary.
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