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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 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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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
Friday, August 12, 2016
Water Deal Done Between State of Oklahoma and Major Tribes
The Chickasaw and Choctaw Nations, the State of Oklahoma and the City of Oklahoma City announced on Thursday that they have reached a water rights settlement, which will be presented to Congress for final approval.
When finalized, the settlement will resolve long-standing questions over water rights ownership and regulatory authority over the waters of the Choctaw and Chickasaw Nations' historic treaty territories, an area that spans approximately 22 counties in south-central and southeastern Oklahoma. The agreement provides a framework that fosters intergovernmental collaboration on significant water resource concerns within the Settlement Area, while at the same time protecting existing water rights and affirming the State's role in water rights permitting and administration. Additionally, the agreement will implement a robust system of lake level release restrictions to allow Oklahoma City's measured use of Sardis Lake for municipal supply purposes while continuing to support regionally critical recreation, fish and wildlife uses.
"We are proud to be part of this historic agreement among the State of Oklahoma, the Choctaw and Chickasaw Nations and the City of Oklahoma City," said Oklahoma Gov. Mary Fallin. "We all understand the importance of water for sustaining life and as the engine that drives our economic growth. By choosing cooperation and collaboration over conflict and litigation, this agreement strengthens governmental relationships based on the common interests of the State and the Choctaw and Chickasaw Nations.
"While the State will continue to exercise its authority to manage and protect water resources throughout Oklahoma, the Choctaw and Chickasaw Nations will rightly play a role in significant water allocation and management evaluations within the Settlement Area. This agreement is an important first step in all Oklahomans coming together to address the wise use and protection of our shared water resources."
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|Agreement Hailed by Farm Bureau and AFR as Good for the Future of Oklahoma
Both general farm organizations offered praise for the efforts of the negotiators of what is being billed as a historic water rights agreement between the State of Oklahoma, Oklahoma City and the Choctaw and Chickasaw Indian Tribes.
Oklahoma Farm Bureau President Tom Buchanan of Altus says "Water is our state's most important commodity and the lifeblood of Oklahoma agriculture. Oklahoma Farm Bureau recognizes and respects the need to responsibly manage this natural resource in the best interest of our state. As an organization, we are committed to working with others to develop Oklahoma's water supply for the future of Oklahoma and Oklahoma agriculture.
"We commend Gov. Mary Fallin and Attorney General Scott Pruitt on the completion of a landmark case that will ensure Oklahoma's water needs are met both now and in the future."
Click here for his complete statement- and for comments we got about the agreement with VP for Public Policy for the organization, John Collison.
LIKEWISE- Terry Derrick with the American Farmers and Ranchers is very pleased with the results of the five years of negotiations- saying "This agreement is good for Oklahoma and it is in keeping with AFR's policy on water. We fully support Oklahoma's Indian tribes having a formal role in our state's water management process. We are opposed to sale of water outside the state, but if those sales ever happen in the future, we believe the area where the water came from should receive priority compensation.
"We consider water rights to be valuable property rights. Protecting private property is a cornerstone of AFR policy."
We also have audio comments with
Derrick, who talked with Sam Knipp about the agreement- click here
for those comments with the AFR President.
|Farm Bureau's John Collison Upbeat on Prospects of Passage for State Question 777
Despite the fact that there is a lot of misinformation being spread by opponents of Right to Farm, State Question 777, Oklahoma Farm Bureau's John Collison believes that if people will take the time to read the language of the state question, they will understand that it's not about puppies or even potholes on the Broadway Extension in Oklahoma City- but rather about protecting farmers and ranchers and their ability to produce safe, wholesome and reasonably priced food for decades to come.
Collison says that SQ777 is not just for rural citizens but everyone in the state of Oklahoma. He appealed to residents of Oklahoma City and Tulsa, saying that if they wanted to buy an organic egg or a conventional egg, either choice was great. But it is people's right to choose what they buy that he wishes to protect.
"These out of state groups, they want to dictate how your food and fiber is going to be raised," Collison said, "and we're just not standing for that."
We talked about State Question 777 with Collison- and you can hear his comments from that conversation by clicking or tapping here.
John is our guest tomorrow morning on KWTV, News9- when we will talk about the upcoming grassroots process that Farm Bureau calls their August Area Meetings that begin statewide this coming Monday.
|Ag Credit Conditions Continue to Deteriorate According to Recent Fed Bank Survey
Agricultural credit conditions throughout the seven-state Tenth District continued to deteriorate in the second quarter of 2016 as farm income remained subdued, according to the Federal Reserve Bank of Kansas Citys Survey of Agricultural Credit Conditions.Nearly 75 percent of bankers responding to the survey reported farm income was less than a year ago. Bankers also indicated they expect farm income to remain weak in the third quarter. Persistent declines in farm income in the District have continued to affect agricultural credit conditions. Demand for non-real estate farm loans and loan renewals continued to climb in the second quarter with additional increases expected in the third quarter. Slimmer profit margins also have pulled down the rate of loan repayments. Almost half of all respondents reported that loan repayments rates in the second quarter were lower than a year ago. In addition, the severity of repayment rate problems has increased slightly over the past year.
Click or tap here for more on the status of farm lending as described by this report from the Federal Reserve Bank of Kansas City.
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|Hay Ain't Cheap- And Derrell Peel Says Understanding That is Important to Your Bottom Line
Production costs - It has been the topic as of late for Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel. He says to get the most profitability out of their cattle, producers need to squeeze every penny, and realize that better management habits by the producer can often make all the difference. One area in particular, he says, that can easily be better managed and add a great deal to your bottom line, is in your forage and grazing programs.
"I think we really have lost sight of how much hay costs relative to grazing," Peel said. "There's a lot of savings to be had by extending that grazing season a couple weeks or a month in the fall, or picking it up a couple of weeks or up to a month ahead of the spring."
Dr. Peel says that with some better pasture management, perhaps considering different combinations of forage and grazing systems, producers can potentially save close to $100 per cow per year.
We talked about this subject with Dr. Peel last month when we caught up with him at the OCA Annual Convention- he was their market analyst for the 2016 meeting- and one of the keys he shared with them was the difference in cost between grass your cows harvest versus the hay you bale and feed to them.
You can hear his comments on this edition of the Beef Buzz- click here to jump to our story dedicated to this subject with Dr. Peel.
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|US Wheat Associates Tells Global Wheat Buyers- We Have the Protein You Want
For customers looking to meet their needs for higher protein bread wheat, the United States remains the supplier of choice after carrying in a strong supply of hard red winter (HRW) from the 2015/16 crop with a protein average of 12 percent or more (on a 12 percent moisture basis). Higher protein HRW does carry a premium that is significantly higher than it was when harvest started, but low futures prices take some of the bite out of that market factor for buyers.
In their latest newsletter, US Wheat explains that European wheat has taken a major hit with the problems that have developed with the 2016 French wheat crop. Heavy rains have hurt the quality and quantity of the French crop- which is now predicted to be down at least 29% compared to last year's record crop.
US Wheat points out that "While EU production will be lower, the United States is currently harvesting the largest HRW crop since 2008/09. In July, USDA pegged 2016/17 U.S. HRW production at 28.1 MMT, up 25 percent from 2015/16 despite an 8 percent reduction in planted area year over year."
|Kim Talks Canola and Wheat Pricing Strategy for 2017- and What to Do Your Remaining 2016 Wheat
The Kim we refer to is, of course, Dr. Kim Anderson, our guru when it comes to wheat prices and marketing- and in this week's SUNUP that will be seen on OETA Saturday and Sunday- he extends that guruship to Canola.
Dr. Anderson is talking this week with SUNUP's Lyndall Stout- and he points out how the strategy for canola producers to sell most if not all of their crop annually is to do so right at harvest. Here in 2016, Dr. Anderson says the peak canola price in Oklahoma came on June 9th when the price per bushel was $7.10- it fell steadily from that point to $5.25 this week.
For producers of both canola and wheat- Anderson offers some ideas about how to figure 2017 harvest time forward prices- he says the numbers add up to about a $6.25 canola price next June- and a $4.00 wheat price at 2017 harvest. Kim and Lyndall also look at what options that farmers have with their bushels of 2016 wheat they still have in the grain bin- and what the market might offer for those who want to hold into the latter days of this year.
Click here to jump to our webstory where you can listen to Kim and Lyndall cover it all- and you can also take a look at the extensive lineup that has been assembled for the August 13-14 Edition of SUNUP.
|This N That- JD Strong on Data, Information and Analysis, Wheat Review and Crop Production at 11
JD Strong with the Oklahoma Water Resources Board is excited about how the negotiators got past emotion and tradition and focused on the "data, information and analysis" that the Water Rights agreement is based on(The one we have spotlighted in our top two stories this morning). Strong believes that the deal will be good for the Indian tribes, Oklahoma City, Agricultural interests and other users of water in the state of Oklahoma as it will ensure that adequate water will be always in the Kiamichi River basin for the needs of southeastern Oklahoma while providing the basis to take surplus water for other uses outside of that region.
JD talked with Sam Knipp after the announcement of this historic agreement- and you can listen to his thoughts on this deal by clicking here.
One final reminder- starting a little after 9 AM this morning is the 2016 Oklahoma Wheat Review- happening at Redlands Community College Darlington Chapel which is located North of El Reno and West of Hwy 81.
BIG USDA Crop Production Report will be out at 11:00 AM Central time this morning- we will be looking at several things- including any revisions as to the size of the US Winter Wheat Crop- important for us around here.
Of greater importance to the world of corn and soybeans- this report will give us USDA's first real serious guess regarding how big the US corn and soybean crops will be this year- we could be talking about a 15 BILLION Bushel corn crop and a 4 BILLION bushel soybean crop.
We will be looking at those numbers and sharing more about them on our website as well as Monday in our daily email.
Have a GREAT Weekend- and enjoy the COOLER Weather!!!
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