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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:
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|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, October 11, 2016
|Oklahoma Senator Jim Inhofe Urges a YES Vote on SQ777
In a letter published in the Monday Daily Oklahoman- Senator Jim Inhofe proclaimed his support for State Question 777- here are his comments about why Right to Farm needs to be approved on November 8th:
"Some people think the "Right to Farm" vote on November's ballot is unnecessary, but they don't see what I've seen in my years of public service.
"The goal of liberal activists is to intimidate states in how they regulate. We're seeing this with the Obama administration's Clean Power Plan, which consists of two carbon mandates - written primarily by activist groups - that would attempt to strong-arm states to re-engineer their utility grids and reassess how they regulate local energy resources. Then there is the WOTUS rule, in which the administration inappropriately collaborated with radical environmentalists in an unprecedented federal land grab. These activists won't stop there.
"In July 2015, I held a committee hearing where a witness testified that environmental activists are setting their sights on the agriculture industry next. Amending the state constitution is about sending a signal to liberal extremists on the outside not to waste their time and money on Oklahoma. With Right to Farm, the state can continue putting forward proper safeguards for its residents, while our constitution will protect our farmers and ranchers from being unnecessarily over-regulated as a result of external pressures and big-money liberal campaigns. With Right to Farm, Oklahoma will protect its own for generations to come.
"There is a national effort to stop one of the greatest engines of our economy - agriculture. I don't want to see it succeed. I want to see Oklahoma agriculture and Oklahoma families succeed. Join me and vote "Yes" on SQ 777
If you want to learn more about SQ777, click here
for the FAQs from the pro side of the question- if you want to see what the opposition is saying about the measure and what they are telling Oklahomans as they urge a no vote- click here
US Meat Exports Growing, Though Increased Production Moderating From International Trade
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 explains how the international meat trade is moderating the increased production of meat in the U.S.
"U.S. meat exports continued to grow year over year in the latest trade data for August with beef exports up 29.5 percent from last year, along with pork exports up 11.4 percent and broiler exports up 16.7 percent. Additionally, beef imports were down 16.0 percent in August while cattle imports were down 18.0 percent compared to one year ago. Total U.S. red meat and poultry production in 2016 is projected to increase 2.7 percent over 2015 levels. However, nearly half of that increase is expected to move off-shore with net meat exports projected to increase 11.5 percent compared to 2015. This will hold domestic meat consumption to a projected 1.3 percent year over year increase. Beef leads the way in 2016 with production projected to increase roughly 4.6 percent over year ago levels. In terms of quantity, the U.S. will continue to be a net beef importer in 2016 but a nearly 60 percent decrease in net beef imports will limit domestic beef consumption to a projected increase of 1.7 percent year over year.
"Beef exports to Japan were up 43.1 percent in August with a year to date total up 12.1 percent compared to last year. Beef exports to South Korea were up 70.4 percent in August and are up 26.9 percent for the first eight months of 2016 compared to one year ago. August beef exports to Mexico were up 30.3 percent year over year with a year to date total up 12.3 percent. Beef exports to Hong Kong were up 35.6 percent in August but remain 6.6 percent below 2015 for the year to date. Among major U.S. beef export destinations, only Canada was down with a 14.3 percent decrease in August and 9.7 percent lower total for the year to date.
Click here to continue reading Dr. Peel's international meat trade analysis.
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|AFR Working to Develop the Next Generation of Leaders in Oklahoma Agriculture by Example
I recently caught up with Terry Detrick, president of American Farmers & Ranchers, at the Tulsa State Fair prior to the fair's livestock show premium sale where Detrick, representing AFR, planned to support the kids participating. Detrick, his board members and staff are all busy right now and seems like they will be for a while, working on AFR's youth activities. Working with youth is something Detrick says is very important. Especially, with legislation like State Question 777 - Right to Farm coming up these days, he says it is important to keep kids engaged in agriculture.
"That's our future and we need to train them and we have that responsibility," Detrick said. "We start with 5th and 6th graders and go all the way through high school. We've got passed speakers that today are congressmen, they're leaders in the state. We're just very proud of that. We had a part in helping them get a start."
According to Detrick, getting our youth involved and engaged in agriculture will help to prepare them in the future, to be informed and knowledgeable when it comes to voting on issues, much like SQ777.
"This is a very important thing. I look at it as a preventative measure," Detrick said. "It's a consumer issue, it' a preventative measure and even our legislature sees what's happening in other states and our legislature today sees the need for this."
|The War on Pests - Make Your Pasture a NO-FLY Zone
At the recent Beef Stocker Field Day hosted by Kansas State University, Oklahoma State University Entomologist Dr. Justin Talley, briefed attending producers on the impact external pests, such as flies, can have on cattle herds."Our biggest impact are Horn flies, when you look at them because their season, and then there is the small flies on the backs of the animal," Talley said. "They can reach up to 1,000 per animal if they go untreated."Tally says an individual fly will pierce the skin of an animal up to 24 different times per day. The cumulative effect of this builds stress in the animal, little by little. He strongly recommends treating your animals, but in a way that manages the build-up of resistance in the flies."You have got to rotate the chemical classes," Talley said, "because we have high levels of resistance in Horn fly populations."For producers looking to start a fly-control program, Talley recommends buying the more affective name brand products rather than the less reliable generic brands, rotating chemical classes regularly and not applying product in or in the near eventuality of rain.Listen to Dr. Talley discuss fly control and pest management on during the latest Beef Buzz.
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.
|Stop the Bleeding of Balance Sheets - Strategies to Help Producers Make Cattle Marketing Decisions
The cattle industry has experienced plenty of grief since the market started its downward spiral in June 2015. Feeder cattle prices declined nearly 40 percent during the six-month period, ending just before Christmas 2015, resulting in a roughly $600 per head lower price for a 750-pound feeder steer. Today, many cattle producers' balance sheets indicate a lower net worth than a year earlier. What is the best strategy going forward to regain profitability or at a minimum stop the bleeding of balance sheets?
Cow-calf producers who have spring-calving herds are facing decisions on what to do with the calves. Many options are available. A selected list include 1) strip and sell, 2) precondition 45 to 60 days and sell, and 3) retain ownership through spring. Currently, the March 2017 Feeder Cattle futures contract is trading at a $10 per hundredweight discount to the September 2016 Feeder Cattle futures contract. It is difficult to gain cattle cheap enough to overcome that kind of price decline. Without getting too deep in the weeds discussing assumptions, my calculations reveal that a bawling 5-weight steer will net roughly $750 per head in early October. If that calf was preconditioned, gained 1.67 pounds per day for 60 days and was sold in early December, the value increases to more than $900 per head. Again, that is based on current Feeder Cattle futures quotes. Does that strategy make a producer any more money? It depends, but likely turning a bawling calf into a yearling, then selling it will generate a favorable rate of return.
What about retaining ownership of the animal until early March and selling the calf at 850 pounds? Turning a profit from this strategy is a bit more of a stretch, but it is doable assuming one can keep the cost of gain in check. Futures quotes indicate a value of gain near 60 cents per pound. If you have your own small grain pasture or access to 30-cents-to-35-cents cost of gain, it can work. The key to making money on retained ownership to 850 pounds is keeping cost of gain much lower than the 60 cents per pound value of gain.
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|Researchers Claim - What You Eat Depends Largely on Where You Live
Walk through the produce aisle in a grocery store nearly anywhere in North America and you are likely to find fruits and vegetables imported from abroad alongside numerous iterations of domestic favorites. While the variety of foods available is striking, diets of those living in temperate areas are still considerably less diverse than those living in the tropics where a more genetically diverse set of species are produced and consumed.
A new study published in the October 5 edition of the journal PLOS ONE finds that the impact of globalization is less than expected when it comes to the food we grow and eat. As it turns out, what you eat depends largely on where you live. The study is the result of an ongoing collaboration between biologists and economists from several universities through the National Socio-Environmental Synthesis Center (SESYNC) at the University of Maryland.
"The diversity of the food we eat hasn't changed as much as we expected it would with globalization," said study co-author Jeannine Cavender-Bares, an associate professor in the University of Minnesota's Department of Ecology, Evolution and Behavior, who led the working group together with Regents Professor Stephen Polasky at the University of Minnesota. Both are fellows at the Institute on the Environment. "We still tend to tend to eat based on the biodiversity around us even though we could eat anything," she added.
Despite increased access to more kinds of plants, a country's plant production and consumption patterns are still largely determined by local evolutionary legacies of plant diversification. Because a greater diversity of lineages across the tree of life naturally occur in the tropics, tropical countries produce and consume a greater diversity of plant products than do temperate countries. And while temperate countries have the capacity to produce and consume more plant species than the many tropical countries, the plant species cultivated are drawn from fewer branches on the tree of life.
to continue reading about the researchers' findings concerning the diversity of diets based on geographic location.
|This N That- Crop Progress Out This Afternoon, Five State Beef Conference and FFA Membership Grows
A day later than normal because of Columbus Day- USDA will be releasing their weekly Crop Progress
numbers at 2 PM central time. Traders expect Uncle Sam to show soybean harvest near 50% done and corn from 35 to 37% complete.
USDA will also be releasing their October Crop Production Report
tomorrow morning at 11 AM Central Time- along with the monthly Supply Demand Numbers- a Reuters poll predicts a slightly lower corn yield than a month ago- 173.5 bushels per acre compared to the September 174.4 bpa while soybean yields nationally may edge higher, if the trade is right- September saw the soybean yield at 50.6 bpa and expectations are that USDA will move that to 51.5 tomorrow morning.
of OSU dropped us a note to remind us of the 2016 edition of the Five State Beef Conference- happening today and tomorrow. Today's Session is in Clayton
, New Mexico and tomorrow's afternoon-evening session is in Woodward
at the Fairgrounds. Click on the name of the city to get more information about that particular session- looks like a good program that has been developed by representatives from OSU, Texas Agrilife, K-State and New Mexico State.
*************National FFA membership
continues to grow- up another 3% this year over 2015 levels- and almost at 650,000 members nationally.
Texas is easily the largest state by membership, while Oklahoma is the fourth largest FFA membership state.
Details on the membership success can be seen by clicking or tapping here
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