|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
, E-mail and Web Writer
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, September 6, 2016
FSA Shifts Funds to Cover One Third of the Farm Loan Shortfall for This Fiscal Year
The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Administrator Val Dolcini announced Friday that additional funding will be made available to assist more than 1,900 approved applicants who are awaiting farm operating loans. The funds, which were reprogrammed by FSA with the approval of Congress, will leverage up to $185 million in additional lending for direct and guaranteed farm operation loans and will allow the agency to address up to 30 percent of its projected shortfall of funds until the next federal fiscal year resumes on Oct. 1.
"Some of our farming and ranching customers are experiencing challenges due to market conditions and have been on a wait list for up to 60 days, so this will help those applicants whose paperwork has been pending the longest period of time to obtain credit or restructure loans as needed," said Dolcini. "While the backlog in loan applications will grow between now and the end of the fiscal year, it is important for borrowers to continue to apply since we will process loans on a first-come-first-served basis based on the application date, once funding is replenished in fiscal year 2017."
FSA loan funds have been in higher demand than in past years. As a result, funding for FSA's farm operating loans has been unable to meet the demand for the remainder of this fiscal year, which ends Sept. 30, 2016. In fiscal year 2016, FSA has guaranteed loans to more than 6,400 customers for farm ownership and operating purposes.
USDA also reminded lenders and potential borrowers of the loan guarantee programs available from the Small Business Administration (SBA) that can be used for similar purposes as FSA guaranteed loans. Some lenders work with both FSA and SBA on loan guarantees and can switch between the programs. This ability to switch between programs means the SBA programs can provide a financing alternative for agricultural producers when their lender is unable to close an FSA guaranteed loan, such as when funds have expended for the fiscal year.
to read more about FSA and SBA loans and find links to more information on each.
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|To Take Advantage of Opportunities, Cowboys Need to Roll Up Their Sleeves and Manage Costs
As the markets get closer to closing out the third quarter of 2016, I sat down with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel, to get his perspective on the cattle business conducted over the last eight months. He says that producers had some fun a couple years ago, but the economy is playing the B side of what markets experienced in 2013-2014, and it is now time to go forward."A lot of this has still been kind of a transition that really started last year," Peel said. "I think in general it has played out to what we expected."We've got bigger numbers, we're growing. Supply issues obviously are more on our minds now than they have been in the last few years. In general, I'm pretty comfortable with where we are now and the way these markets are kind of balanced against each other at this point."It was around this time last year, Dr. Peel says, that prices began to tumble in all segments of the market, citing a lot of unexpected situations that occurred. He says what is important to understand is that the market responded with some challenging adjustments over the last 12 months that has left producers very cautious, even still. Peel insists though this big adjustment is behind us, and although we may not be happy with it relative to what it is now, producers should be able to move forward with more of a sense of stability in the market."This is what the business really is - this is what you do for a living," Peel said. "You roll up your sleeves, you manage costs and there are still opportunities here."Listen to Dr. Peel offer his perspective on the cattle business thus far in 2016 during the recent Beef Buzz.
|BNSF Offers New Direct Routing From Dallas-Ft Worth to Pacific Northwest
Beginning Sept. 12, BNSF Railway will offer intermodal customers a new service option to move freight between the Pacific Northwest and Texas.
Shippers who move commodities and a wide range of consumer goods between Portland, Ore., or Seattle, Wash., and Dallas/Ft. Worth, Texas, (AllianceTexas) will now be able to reduce their transit times by up to two days compared to rail transit time options currently in the marketplace. The new BNSF service will be comparable in speed to single-driver, over-the-road options.
"We regularly work with our customers to identify and offer new and better transportation solutions to make their supply chains more effective. So, we are constantly looking for opportunities to help meet consumer demands, and this new service checks all the right boxes for adding efficiency to the marketplace," said Katie Farmer, group vice president of Consumer Products for BNSF. "With an economy as dynamic as ours, BNSF is focused on delivering options that strengthen the competitive advantage of U.S. companies through our country's supply chain."
to read more about BNSF's new service option.
|Oklahoma Quality Beef Network Releases Annual Fall Slate of Certified Cattle Sales
The Oklahoma Quality Beef Network has identified dates and locations for its annual fall slate of certified cattle sales.
This year, sales are set for Oct. 26 (Cherokee Livestock), Nov. 3 (Woodward Livestock), Nov. 4 (Elk City Livestock), Nov. 8 (McAlester Stockyards), Nov. 9 (OKC West), Nov. 12 (Pawnee Livestock), Nov. 19 (Blackwell Livestock), Dec. 1 (Woodward Livestock) and Dec. 14 (OKC West).
McAlester Stockyards also will host three sales in 2017 on Feb. 7, April 4 and June 6.
Sales will feature only OQBN certified cattle.
OQBN, a joint effort between Oklahoma State University Cooperative Extension and the Oklahoma Cattlemen's Association, is aimed at educating producers on best value-added management practices and provides opportunities for participants to certify the quality of their animals.
"There's no question OQBN helps improve the health and nutrition of calves," said Gant Mourer, OSU Cooperative Extension beef enhancement specialist and OQBN administrator. "The strategies, expertise and best practices we promote are proven and effective. That's why buyers are willing to pay a premium for cattle certified through our program and it's also why producers continue to register cattle in the program at record levels."
Click here to read more about OQBN and find information on participating in this fall's sales.
Midwest 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.
|LMIC Analysis Shows Grocery Store Meat Prices Trending Lower
According to the latest analysis released on Friday by the Livestock Marketing Information Center, grocery store meat prices were moving lower during July, generally, reflecting larger supplies available to consumers in recent months. Fresh beef prices were down six percent from a year ago, chicken prices were down three percent and pork prices were close to unchanged. The beef price in July 2015 was a record high value and since that time has declined in nine out of the twelve months.
Grocery store chicken prices peaked in October 2013 and annual average prices have trended lower since then. Pork prices in July 2015 were nine percent lower than in July 2014, due to a surge in pork production last year and have resisted any significant declines since then. Pork supply this year has been running close to year earlier volumes, lending support to stable retail pork values.
The seven cent decline in fresh beef prices was the biggest month-to-month decline since last December. From July to August last year, fresh beef prices at retail declined six cents and a decline similar to this could be possible again, give the declines in beef prices at the wholesale trade level. Choice beef carcass prices during the spring quarter were down 14 percent from the same quarter of 2015 and carcass price so far this summer are below the values that were in place at the end of this June.Click here
to read more about LMIC's findings on recent grocery store meat prices.
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Award winning 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.
|Dairy MAX Reminds Parents to Remember the Importance of a Balanced Breakfast This School Year
The 2016/2017 school year is kicking-off, and kids across the country are returning to class. As a parent, Susan Allen, Dairy MAX spokesperson and program manager of industry affairs, is spreading the message and reminding parents in Oklahoma about how important a complete breakfast is, not just for children, but adults as well. She says that a balanced breakfast is a great way to help achieve the recommended three servings of dairy each day.In an effort to proactively get involved in child nutrition, Allen says, Dairy MAX is working with local schools to bring breakfast out of the cafeteria and into the classroom. She reports that Oklahoma City Public Schools are now offering a free universal breakfast that all students may eat at their desks in class together. She says there are a multitude of benefits for children who eat breakfast."Kids that eat breakfast, have better cognitive function, they have better memory and they have better attention," Allen said. "Who doesn't want that for their kid and in fact, you know we could use that as adults, too."Listen to more of my conversation with Allen on Dairy MAX's involvement with local school breakfast programs.
AND- in case you missed it- Susan was my guest Saturday morning for my In the Field Segment as seen on KWTV News9- click here to take a look!
|This N That- Bayer Continues Pursuit of Monsanto, Enid Soil Health Event and Jeans and Jewels Happens This Week
German pharmaceutical and crops manufacturer Bayer
said on Monday that its negotiations with Monsanto
had advanced, and it was now willing to offer more than $65 billion to acquire the world's largest seed company.
Bayer's announcement came as the gap in price expectations between the two companies has narrowed significantly, although important terms, including potential divestitures in case of antitrust scrutiny, have yet to be agreed on.
The offer equates to $127.50 US Dollars per share of Monsanto stock.
Our friend Chuck Zimmerman
at Agwired has the official statements from both companies in one place- click here to read
what little is being officially said.
This Thursday, September 8th, join Garfield County Conservation District, the Oklahoma Association of Conservation Districts, USDA-NRCS, and Oklahoma State University for a morning field day focusing on the impact of cover crops. Experts will be available to answer questions about soil, seeding rates and mixes, and the economics of cover crops.
This workshop is free and open to the public. Attendees should meet at 8:30 a.m. at the Garfield County Conservation District office located at 1216 W. Willow Rd., Suite D in Enid, OK.
Please RSVP by close of business today by emailing Sarah Blaney
or calling 517.763.8609
The Tulsa State Fair Ringmasters
have taken a page from the Diamond Hats fundraising efforts for the Oklahoma Youth Expo- and they are having a big event for the Tulsa State Fair Junior Livestock Show Premium Sale this coming Friday evening, September 9th at the Silo Event Center on 41st Street in Tulsa.
We have a few more details on our calendar page for the event- click here to take a look.
Tickets for the event- called Jeans and Jewels
- can be ordered by calling (918)744-1113 ext. 2104
|Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Genetics Inc., American Farmers & Ranchers, Stillwater Milling Company, Oklahoma AgCredit, the Oklahoma Cattlemens Association, The Livestock Exchange at the Oklahoma National Stockyards and KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
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