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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 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, October 4, 2016
It's All About the Endpoint - Dr. Brett Carver's Vision at the Helm of OSU's Wheat Breeding Program
Last week, Wheat Breeder Dr. Brett Carver of the Oklahoma State University Wheat Improvement Team had the opportunity to meet with a group of flour millers from Mexico representing one of the largest milling companies in the country who were touring wheat facilities throughout the US Breadbasket. I spoke with Dr. Carver to find out what exactly his program is doing to help groups like the one he met with and producers here domestically. He explained that during his meeting with the group, he stressed the fact that his program is not just focused on high yields and agronomics, but quality, too."That's what it's really all about, it has to serve a purpose at the table," Carver said. "We talk so much with farmers about what that variety can do in the field, but that's not the endpoint. The end point is when we get to the table," Carver said, expressing how much he enjoyed talking with the Mexican millers. "I want to learn more about what they're looking for, so that helps me drive the breeding program."Dr. Carver explains that when breeding a new experimental line that will eventually become a new variety, there are generally a couple cuts that are made during the process to help narrow things down a bit in the balancing of agronomics and baking test outcomes."Well we always get the first indication on agronomics, that's the one that comes first," Carver said. "So we're often going to make that first cut based on how that experimental line does in the field. Then we have to go in and decide - within this yield level, what's going to give us the best end use quality."Listen to Dr. Brett Carver talk more on his direction of the OSU wheat breeding program.
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|Latest Crop Progress Reports Show Wheat Planting Well Underway While Corn Harvest Continues
The latest U.S. Department of Agriculture crop progress report rates 73 percent of the US Corn Crop as being in good to excellent condition- down 1 point from a week ago, 19 percent fair and 8 percent poor to very poor. Harvested corn reached 24 percent, 3 points below average. National soybean conditions bounced 1 point from a week ago in the good to excellent ratings- now at 74 percent while soybeans are 19 percent fair and 7 percent poor to very poor. The national grain sorghum condition is unchanged from a week ago at 66 percent good to excellent, and still 28 percent fair and 6 percent poor to very poor, as well. Harvested sorghum reached 41 percent, 5 above the average. National cotton conditions are up 1 point from last week in the good to excellent ratings- at 49 percent, 36 percent fair, 12 percent poor and 3 percent very poor. Harvested cotton reached 15 percent, just above the average by 1 point. For the complete USDA Crop Progress report, click here.In the weekly crop progress report from USDA, Oklahoma winter wheat planted reached 42 percent, up 3 points from the previous year but down 2 points from normal. Winter wheat emerged reached 16 percent, up 4 points from the previous year and up 2 points from normal. Canola planted reached 40 percent, down 14 points from the previous year and down 16 points from normal. Corn mature reached 81 percent, down 15 points from the previous year and down 16 points from normal. Corn harvested reached 60 percent, up 1 point from the previous year but down 9 points from normal. Sorghum mature reached 74 percent, down 3 points from the previous year but up 11 points from normal. Sorghum harvested reached 40 percent, down 4 points from the previous year but up 3 points from normal. Soybeans dropping leaves reached 30 percent, down 3 points from the previous year but up 14 points from normal. Soybeans harvested reached 3 percent, up 1 point from the previous year but down 4 points from normal. Cotton bolls opening reached 63 percent, unchanged from the previous year but down 7 points from normal.Click here for the full Oklahoma report.In Texas, winter wheat and oats seeding was in full swing across the state, while cotton harvest continued across the southern half of the state. Meanwhile, areas of West Texas and the Plains, harvest was just getting underway. Corn harvest was 75 percent complete, 11 points higher than last week and 5 up from normal. Mature corn reached 86 percent, 1 point below normal. Sorghum harvest was 69 percent complete, 4 points higher than last week and just 1 above normal. Across the state, sorghum was 80 percent mature, which is equal to the five-year average. Soybeans dropping leaves were at 85 percent, 2 points higher than normal. Cotton harvest was at 17 percent, equal to normal. Cotton bolls opened were at 59 percent, 8 points under the 5-year average.Click here for the full Texas report.Crop progress reports in Kansas, show winter wheat planted was 40 percent, equal to last year, and near the five-year average of 43. Emerged was 12 percent, near 15 last year and 16 average. Corn condition rated 2 percent very poor, 7 poor, 26 fair, 54 good, and 11 excellent. Corn mature was 91 percent, near 92 last year and 89 average. Harvested was 47 percent, behind 56 last year and 52 average. Soybean condition rated 1 percent very poor, 4 poor, 24 fair, 55 good, and 16 excellent. Soybeans dropping leaves was 56 percent, behind 64 last year and 66 average. Harvested was 7 percent, behind 12 last year and 13 average. Sorghum condition rated 1 percent very poor, 3 poor, 21 fair, 59 good, and 16 excellent. Sorghum mature was 63 percent, behind 69 last year, but ahead of 46 average. Harvested was 18 percent, near 22 last year, but ahead of 11 average. Cotton condition rated 1 percent very poor, 2 poor, 29 fair, 64 good, and 4 excellent. Cotton setting bolls was 96 percent, near 100 last year and 99 average. Bolls opening was 51 percent, ahead of 46 last year, but near 54 average. Harvested was 4 percent, equal to last year, and near 1 average.Click here for the full Kansas report.
|USDA Report Shows Growing Biobased Products Industry Contributes $393 Billion and 4.2 Million Jobs to American Economy
A new report released midday Monday by the U.S. Department of Agriculture (USDA) shows that in 2014, the biobased products industry contributed $393 billion and 4.2 million jobs to America's recovering economy. The report also indicates that the sector grew from 2013 to 2014, creating or supporting an additional 220,000 jobs and $24 billion over that period. Agriculture Secretary Vilsack, who has identified the biobased economy as one of the four pillars that support our country's rural economy, released the report at a luncheon Monday at the National Press Club in Washington, D.C.
"When USDA released the first-ever Economic Impact Analysis of the U.S. Biobased Products Industry last year, we were thrilled to see what a positive impact this sector was having on our economy, and this updated analysis shows that the sector is not just holding strong, but growing," Vilsack said. "America has an appetite for everyday products-including plastic bottles, textiles, cleanings supplies and more-made from renewable sources, and that demand is fueling millions of jobs, bringing manufacturing back to our rural communities, and reducing our nation's carbon footprint. As this sector is strengthening, so is the economy in rural America, where this year the unemployment rate dropped below six percent for the first time since 2007. USDA is proud to see such strong returns on our investment into the biobased products industry."
This report is the second Economic Impact Analysis of the U.S. Biobased Products Industry released by USDA, and it analyzes revenue and jobs created by the biobased products industry at the national and state level in 2014. USDA released the first report of this kind last year, which analyzed the same information based on 2013 data. The new report shows that the industry directly supported 1.53 million jobs in 2014, with each job in the industry responsible for generating 1.76 jobs in other sectors. In 2013, the industry was found to contribute $369 billion and four million jobs to the U.S. economy.
Click here to read more about the economic impact of biobased products and find a link to the complete USDA report.
|Transition in Beef Industry Causing Fear and Uncertainty in Cattle Markets
Each week, 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 offers a little perspective on the fear and uncertainty in the cattle markets being caused by recent bearish activity.
"The beef industry's transition to larger beef supplies in 2016 has been challenging. A persistently bearish psychology and ridiculous volatility in live and feeder cattle futures recently has contributed to a meltdown in cash markets and a mood among producers that is best described as fear. As a result some producers (and lenders) seem unable to do much of anything at this time. There seems to be a fear that that there is no bottom to markets once the cow herd expands and beef production starts to rise. Perhaps the fact that the industry has not experienced a cyclical expansion since the early 1990s is part of the problem. Some younger producers and traders have never participated in herd expansion and no one in the industry has in more than 20 years. There seems to be a feeling that any data with a positive year over year change (herd inventory, cattle slaughter, beef production, feedlot placements, etc.) is cause for rampant bearishness.
"A little perspective is in order. The beef cow herd is probably still expanding in 2016. There is no way to be sure since USDA-NASS has not provided any inventory update since January. Nevertheless, the beef cow herd is expected to grow another 1.5-2.5 percent in 2016. Added to the expansion in 2014 and 2015, the January 1, 2017 beef cow herd inventory is likely to be near 31 million head. This puts the beef cow herd inventory back to the level at the beginning of 2011; before drought liquidation dropped the herd by an unplanned 2 million head. Although the expansion since 2014 is properly characterized as cyclical expansion, it can also be thought of drought recovery so far. There is little doubt that the herd was poised to expand in 2011 in the absence of drought so it hardly seems likely that expansion to get back to that level can be thought of as drastically overshooting the mark. True, the sharp jump in carcass weights recently (steer carcass weights increased 28 pounds from 2013 to 2015) means that less expansion now will be required to produce the needed total level of beef production. The need for additional herd expansion in 2017 and 2018 is questionable but the expansion thus far is not too much.
Click here to continue reading Dr. Peel's insight into current cattle market conditions.
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.
|AFR Partners with Remington Park and OK Quarter Horse Assoc. for Upcoming LEAD Conference
Participants in this year's American Farmers & Ranchers LEAD conference will receive an "inside the ropes" view of the horse racing industry, Oct. 15, Remington Park in Oklahoma City.
"We are excited to partner with Remington Park and the Oklahoma Quarter Horse Racing Association to bring this unique opportunity to our LEAD participants," said Megan Albright, adult education coordinator.
The statewide conference kicks off with a 9 a.m. tour of the Remington Park stables followed by a presentation on the horse industry by the OQHRA.
There will also be presentations on the Chickasaw Nation economic impact and agriculture department, and a discussion on the upcoming Oklahoma State Questions on the ballot.
The AFR LEAD program is a diverse, flexible and innovative program to assist in the needs of growing Oklahoma communities through informed leaders. The all-day program features lunch, dinner and evening social at the thoroughbred races at Remington Park.
For more information, contact Megan Albright at (405) 218-5416 or firstname.lastname@example.org.
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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.
|Purge Your Pastures - Putting the Smackdown on Profit-Sucking Parasites
For cattle producers, parasites are a continual problem in any sector, be it cow/calf or stockers says extension Livestock Entomologist Dr. Justin Talley. Parasite control is something producers need to stay ahead, and he suggests several options to help manage parasites in your herd.When looking at the most common parasites in cattle herds, Dr. Talley says they are generally seen outside of the animal in the pasture. In developing a strategic program, Talley says you want to minimize pasture contaminations."One way to do that is to try to keep animals off that pasture at least for 90 days," Talley said adding two remedies to perform during that safe period. "Try to do something that minimizes the parasite burden like burning or making sure you de-worm any animals before you put them in that pasture."Dr. Talley says it is important to understand that parasites will and do hurt the profitability and productivity of your cattle."When you have a parasite burden, they're impacting that animal's immuno-response," Talley said. "It impacts just the overall performance so they're not gaining as much because those parasites are stress - we just don't see that stress at the same time."Listen to Dr. Talley talk more about staying ahead of parasites to lessen their impact on your cattle's profitability and productivity during the latest Beef Buzz.
|This N That- Rain in the Mix, Tulsa State Fair Junior Market Show and Matthew Roars
As we get ready to push the send button and publish this morning's email- there are a couple of lines of storms working their way across Oklahoma- and there will likely be more showers developing later in the day- and then another shot of rain by the end of the week- Jed Castles
has this graphic which gives you a blow by blow between now and the middle of next week- notice the cool temps on Friday:
At noon today- the Junior Market Show at the Tulsa State Fair
cranks up- and three of the species that are a part of the largest fall market animal show in the state will be showing this Tuesday
afternoon- and then continuing at 8:00 AM tomorrow morning.
Barrows, Lambs and Meat Goats all begin their selection process today- the Market Steer Show starts tomorrow morning(Wednesday)
and then the McDonalds Night of Champions will begin at 6:00 PM tomorrow evening.
At 5:00 PM on Thursday
, the 2016 Premium Auction happens- the steer show, the Night of Champions and the Premium Auction all happen at the Ford Truck Arena.
**********I would invite you to join me in prayer for Haiti
as the island nation is taking the brunt of Category 4 Hurricane Matthew as you receive this on Tuesday morning- by the end of the week- farmers in the Carolinas could be dealing with tropical storm conditions- and the Commissioner of Ag in North Carolina Steve Troxler has already asked and received a Disaster Declaration as farmers rush to harvest their crops ahead of Matthew.
The declaration is especially helpful in that it allows the Governor to lift restrictions on the loads that agricultural trucks can carry and liberalizes the hours they can operate.Click here
for a North Carolina view on getting ready for this deadly storm that could cause fellow farmers in the southeastern US a lot of misery before the week is out.
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