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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, November 15, 2016
Big Wins Could Be in Store for Cattlemen as Trump Administration Begins Outlining Priorities
Lots of change is about to happen in our nation's capital as the transition of power takes place between the Obama and Trump administrations. Colin Woodall, lead lobbyist for the National Cattlemen's Beef Association, says that while Trump's transition team has hit the ground running, it will realistically take about six months to get the new administration organized and fully-functioning. Woodall says too though, that Trump shares several of the same concerns as cattlemen.
"I think the biggest focus is going to be on striking down a lot of the executive orders and regulations that the Obama administration put in place," Woodall said. "He has made it very clear that eliminating the Death Tax is one of his top priorities. When it comes to his overall legislative strategy, no doubt that repealing and replacing Obamacare is going to be high on his list."
Woodall notes that with Republicans having maintained control of both the House and Senate, like minded groups seeking a total overhaul of tax policy and several other concerning matters, have the best chance to achieve that now than they have had in a decade or more.
"We don't believe that trade is definitely going to be something he's going to spend much time on," Woodall said, "but if he can pick up comprehensive tax reform, that's definitely a bonus for us."
Additionally, legal issues regarding the valuation of land and capital gains taxes are also matters Woodall says he and his team believe they have a good chance to find support with. Beyond that though, he says it is still too early to tell what direction Trump will take.
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|Corn Harvest Wrapping Up While Cotton Harvest Falls Behind Schedule in Latest Progress Reports
The latest U.S. Department of Agriculture crop progress report indicates harvested corn reached 93 percent, above the average by 1. National soybean harvest reached 97 percent, equal to last year and 2 above the average. Harvested sorghum reached 90 percent, 4 above the average. Harvested cotton reached 61 percent, 8 points below the average. Winter wheat conditions are rated 59 percent good to excellent, 32 percent fair, 7 percent poor and 2 percent very poor. Winter wheat emerged reached 84 percent, 1 below last year and equal the average. For the complete USDA Crop Progress report, click here.In the weekly crop progress report from USDA,
Oklahoma winter wheat planted reached 96 percent, down 1 point from normal. Winter wheat emerged reached 89 percent, unchanged from normal. Canola emerged reached 95 percent, down 2 points from normal. Sorghum harvested reached 88 percent, up 2 points from the previous year and up 7 points from normal. Soybeans dropping leaves reached 95 percent, down 2 points from the previous year but up 30 points from normal. Soybeans harvested reached 73 percent, down 1 point from the previous year but up 2 points from normal. Cotton harvested reached 55 percent, down 1 point from the previous year but unchanged from normal.Click here for the full Oklahoma report.In
Texas, seeding of winter wheat continued throughout the state last week, while oats seeding was wrapping up in many areas. Sorghum harvest was 87 percent complete, 4 points higher than last week and on par with normal. Soybeans harvested reached 86 percent, same as the previous year and lower than the average by 2. Cotton harvest was at 41 percent, trailing normal by 20 points. Winter wheat planted has reached 88 percent, which is on par with the average. Meanwhile, winter wheat emerged has reached 72 percent, just above last year by 3 and the average by 2 points.Click here for the full Texas report.Crop progress reports in
Kansas, show winter wheat condition rated 2 percent very poor, 8 poor, 34 fair, 49 good, and 7 excellent. Winter wheat emerged was 91 percent, near 92 last year and the five-year average of 93. Soybeans harvested was 94 percent, near 95 last year and 92 average. Sorghum harvested was 91 percent, near 90 last year, and ahead of 85 average. Cotton condition rated 1 percent very poor, 2 poor, 28 fair, 64 good, and 5 excellent. Cotton harvested was 35 percent, behind 46 last year and 47 average.Click here for the full Kansas report.
|US Wheat Industry May Be Having a Tough Time, But It Still Offers the Most Competitive Product
Nearly every production record has been broken this year when it comes to grain crops around the world, most notably wheat. An outstanding feat and a testament to the capability of modern agriculture - still, this situation has caused some challenges as far as marketing the excess product goes. During the National Association of Farm Broadcasters convention last week, RON's Associate Farm Director Carson Horn had the opportunity to speak with Dalton Henry, vice president of policy for the US Wheat Associates. According to Henry, despite the challenges of retaining excess grain and the rise of new players on the global market, the US wheat industry remains one, if not the, most competitive wheat exporter."We've been fairly fortunate so far this year compared to last," Henry said. "From June to now, we've actually exported more Hard Red Winter then what we did in the entire marketing year a year ago."Henry identifies Brazil and Morocco as large purchasers stepping up more strongly than before this year, which he says is giving the US some good opportunities to move some of the lower protein grain being stored. Also, alleviating some of the worries of US growers, are the pitfalls of foreign crops. Henry cites heavy rain damage in Canada and the European Union which has shifted large portions of their grain to feed channels. He says that although US wheat right now is lacking in protein - it is still of decent quality and is helping the US keep its competitive edge on the world marketplace while Russia's presence continues to grow. This year Russia topped the charts as the No. 1 exporter of wheat in the world."The rise of Russia as a major world wheat exporter, is a tremendous shift," Henry said. "Now, a couple caveats on that is they may have been No. 1 overall in total tons shipped. But, if you look at International Grains Council data as to what was the actual prices received for that, they were all the way down at 5th in terms of value received and returns to growers."So, yes, they are a significant exporter but I think our focus in the US has always been much more on a quality perspective and maintaining value and profitability maybe ahead of just tons. That's an area where we still continue to lead even with slightly lower export volumes."Listen to Horn's entire conversation with Henry about the US wheat industry's competitive edge in the world marketplace.
|We Have a Situation on Our Hands - Pork and Beef Working to Secure Stability in Supply Chain
For some, the amount of product on the market both in pork and beef, seems to have piled up rather suddenly. But in fact, it's been mounting for some time and has more or less been expected, says Steve Meyer, meat product economist. I spoke with Meyer at the recent National Association of Farm Broadcasters convention about his outlook for the future as both protein industries work to move product during this period of growth in both species here in the US."It's been brewing for a long time," Meyers said. "We started growing hog numbers pretty substantially last year and it's mainly on the back of productivity. We thought the numbers were coming for some time and not a surprise to us."On the beef side though, Meyers says the good moisture and grass conditions over the last couple years have encouraged the rebuilding of cattle herds, which fits into the cause and effect sequence of events."Last year though, pulling those heifers out drove markets extremely high and we've slowed that process down," Meyers said, "and now we've got those calves coming out of that larger cow herd and we still have excellent grass conditions so we're putting a lot of weight on these cattle before the come into the feedlots."Meyers attests that the beef side is stabilizing fairly well with support levels seeming to hold enough to allow feedlot operators the chance to make a little profit. On the flip side, though, he says things are not as bright for cow/calf operators who are seeing the prices they had for a short time starting to slide down. But for hogs, Meyers says there is no stability yet as packing capacity is creating constraints within the processing line.Listen to my full conversation with Meyers regarding the supply and demand situation affecting the pork and beef industries.
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.
|Dynamic Market Conditions Having Major Impact on Flow of Cattle Imports from Canada and Mexico
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 takes a look into the dynamic market conditions affecting the flow of cattle being imported into the US this year.
"Total cattle imports from Canada and Mexico are down 19.8 percent year over year for the first ten months of the year including a 13.9 percent decrease from Canada and 24.3 percent fewer cattle from Mexico compared to one year ago. Total cattle imports for the year to date include slaughter cattle which are up 10.9 percent through September. Slaughter cattle account for 31.5 percent of total cattle imports so far in 2016, up from 22.7 percent of total imports for the same period last year. Virtually all slaughter cattle imports are from Canada and include slaughter steers and heifers, up 37.7 percent year over year through September and slaughter cows and bulls, down 5.1 percent from last year. For the year to date, fed cattle account for 58.7 percent of total slaughter cattle imports compared to 49.5 percent one year. Fed cattle imports through September include a 62.1 percent year over year increase in slaughter heifers and a 22.8 percent year over year increase in slaughter steer imports. The sharp increase in slaughter heifer imports from Canada this year means that slaughter heifers account for 44.5 percent of total fed cattle imports compared to 37.8 percent of the total for the year to date last year. Increased imports of slaughter steers and heifers in 2016 follows as a result of the 31.7 percent annual decrease in feeder cattle imported from Canada in 2015.
"In 2016, feeder cattle imports from Canada are down 42.7 percent through September compared to the same period last year. The total includes a 36.6 percent decrease in feeder heifer imports and a 46.3 decrease in feeder steer imports. Unlike 2015, the decrease in feeder cattle moving to the U.S. from Canada has not been offset with increased feedlot production in Canada. Cattle on feed in the major cattle feeding regions of Alberta and Saskatchewan were down 17.7 percent in October compared to last year and feedlot placements from May through September were down 21.1 percent compared to the same period one year earlier. This follows the September announcement that the largest cattle feeding operation in Canada (located in Alberta) is not placing additional cattle and will close in early 2017. It appears that a significant number of Canadian feeder cattle may yet be in the country and will likely come to the U.S. at some point.
to continue reading Dr. Peel's latest cattle market analysis.
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|Pork Industry Collaborates in Outreach Event to Celebrate Progress on Antibiotic Stewardship
American pig farmers have a long history of doing what's best for their animals, their customers and their communities. This commitment matches nicely with the goals of the U.S. Centers for Disease Control and Prevention's (CDC) annual celebration,
Get Smart About Antibiotics Week (Nov. 14-20), and demonstrates why it's so critical to use antibiotics wisely to safeguard the health and well-being of people, animals and the environment."The
Get Smart About Antibiotics Week is a good time to reflect on our long history of accomplishments in the antibiotics area, such as using these medications responsibly and embracing the updated Pork Quality AssuranceSM Plus certification program," said National Pork Board President Jan Archer, a pig farmer from North Carolina. "As pig farmers, we are aware of the challenge of antibiotic resistance and are dedicated to working hard to preserve the effectiveness of antibiotics, both on the farm and in human medicine."According to the CDC, the 2016
Get Smart About Antibiotics Week marks an important year because Congress has allocated $160 million in new funding for the agency to implement its activities listed in the National Action Plan for Combating Antibiotic-Resistant Bacteria (CARB). The CDC is using this funding to accelerate outbreak detection and prevention, to support innovative research and to inform providers and the general public about antibiotic resistance and appropriate antibiotic use.
Click here to read more about the National Pork Board's efforts to wisely use antibiotics.
|New York Times Offers Shortlist for USDA Secretary of Ag
There's lots of media attention on the Trump cabinet slots like Attorney General and Secretary of State- and not as much on positions like US Secretary of Agriculture. But several pubs are talking about all of the cabinet positions- for example, the New York Times has mentioned four names as being in the mix for the USDA position.
The Times lists Sam Brownback, Governor of Kansas, former USDA Deputy Chuck Connor, who is now the CEO for the National Council of Farmer Coops, current (and controversial) Texas Ag Commissioner Sid Miller and former Georgia Governor Sonny Perdue.
Politico had a more extensive list a week ago, just after the Trump victory- and one name from that list was mentioned more than once in the conversations I was involved in at the National Association of Farm Broadcasters annual meeting in Kansas City- that name was former Nebraska Governor Dave Heineman.
On Sid Miller
- here's one view of him
from an East Coast newspaper as he might be one of the more flamboyant of those being talked about by those watching the Trump campaign.
is the name in the mix that more people in agriculture know across the country- he would bring a lot of experience and virtually no controversy to the massive agency, if he were selected. We have talked with Chuck many times over the years- most recently this past May when we talked mostly about the GMO Labeling issue- click here
for that story and our Q&A with him.
President Elect Donald Trump and his VP Elect Mike Pence are apparently meeting today to talk cabinet names- it is almost certain that several picks will come from outside of the names being named by outfits like Politico and the New York Times- so guess we will wait and see.
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