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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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Ron Hays, Senior Farm Director and Editor
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Dave Lanning, Markets and Production
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, January 6, 2017
Last September, Executive Director Heather Buckmaster released a statement revealing the apparent theft of money by an employee who was immediately terminated once wrong doing was discovered. The statement on September 21st signaled the start of what has developed into a lengthy investigation. The embezzlement investigation continues- and the state beef checkoff group released a statement yesterday afternoon on the forensic analysis to this point, revealing that $2.6 million dollars is involved over an eight year period.
The statement signaled both criminal and civil charges will be pursued- and the Beef Council acknowledges the length and the extent of the embezzlement.
Since the investigation is ongoing, the Beef Council is limited in the details it can share, but the statement does explain the actions taken by the Oklahoma Beef Council since the discovery of theft.
"When initial evidence was discovered, we immediately terminated the employee and hired an accounting firm to perform an extensive forensic analysis and assessment, which documented $2.6 million in employee theft between 2009-2016.
"The Oklahoma Beef Council provided this information to Federal authorities in September to ensure swift action could be taken. Our goal throughout this process has been to speed recovery and restitution to the greatest extent possible. The board of directors and staff have cooperated fully with Federal authorities as the investigation has moved forward."
Shortly after the statement was released by the OBC- Charlie Swanson, President of the Oklahoma Cattlemen's Association, offered his take on the status of the investigation- "OCA has received and reviewed the statement released today by the Oklahoma Beef Council. While we are shocked at the amount stolen, OCA remains firmly committed to the mission and purpose of the beef checkoff. The past and future success of promoting our product to consumers far outweighs the negative, criminal activity of one bad employee. We send our appreciation to the board members and staff for their fortitude and continued commitment to promote beef during this difficult time."
You can read the full statement from the OBC, including comments from their current Chairman Tom Fanning by clicking or tapping here
Oklahoma AgCredit serves rural Oklahoma communities and agriculture with loans and financial services. Providing loans for rural property, farm and ranch land, country homes, livestock, equipment and operating costs is all we do.
We are the state's largest agricultural lending cooperative, serving 60 Oklahoma Counties. To learn more about Oklahoma AgCredit, click here for our website or call 866-245-3633.
|Beef Board CEO Polly Ruhland Expresses Anger- Hopes for Restitution in Checkoff Money Theft
We reached out to the Cattlemen's Beef Promotion Board and their Chief Executive Officer Polly Ruhland after the statement from the Oklahoma Beef Council that detailed the continuing investigation of millions of dollars taken from Oklahoma Beef Council coffers.
She offered the following response via email on Thursday evening:
"Frankly, I am dismayed and angered that the former Director of Accounting and Compliance at the Oklahoma Beef Council appears to have taken advantage of the trust placed in her by the OBC board of directors. Unfortunately, embezzlement can and does occur in both for-profit and non-profit business environments, and when it happens, it most frequently involves a clever individual's flagrant abuse of a significant level of trust and responsibility placed in him or her by an organization.
"I am not aware of another incident similar to this in the checkoff's history, and I remain extremely confident in the audit and oversight systems of USDA, the Cattlemen's Beef Board, and the beef checkoff program. I understand that when inconsistencies were discovered, the Oklahoma Beef Council board of directors took swift and appropriate action, and has been fully assisting state and federal authorities.
"I also trust the competence of the federal investigative and criminal processes that are at work in Oklahoma in this case, and sincerely hope that if an individual is proved to have wronged the Oklahoma Beef Council, and the farmers and ranchers of Oklahoma, that individual is brought to justice, and appropriate restitution is made."
Federal investigators continue to work to build their case to press criminal charges in this eight year embezzlement case.
This week on SUNUP, Lyndall Stout is joined once again by Oklahoma State University Grain Market Specialist Dr. Kim Anderson. During this segment, they dive right into wheat prices which according to Anderson, have experienced a bump since Christmas of about 25 to 30 cents.
"We got a nickel increase in the basis this week," Anderson said. "That's good, it shows demand is still strong."
This rally in the markets have caused prices in Oklahoma to bounce from the $2.60 to $2.80 range we saw in late fall, early winter and go up to $3.20 to $3.40.
The question remains though - what will prices do between now and the next harvest, and what will be the determining factors? With the bin-busting 2016-2017 world wheat harvest for the most part sewn up, it is safe to say the world has enough wheat. Anderson says what the world needs now, is quality.
He predicts that will a good quality wheat crop, Oklahomans could expect to see wheat sell for $4.25 in June.
To read more or for a chance to listen to Dr. Anderson's commentary on the wheat market this week, click here
With both the House and Senate under Republican control, not to mention that there will be a Republican in the White House, folks are excited to think that some things might actually get done in DC for a change over the next four years at least. I spoke with Colin Woodall of NCBA who says for once, the government seems to be on the same page as the farmers this go around, when it comes to comprehensive tax reform.
"This was an area we didn't really expect to have an opportunity to work on in 2017," Woodall said. "Our understanding is both the House and Senate want to make this a top priority, so we very well could start seeing some action on this here in early spring of 2017."
Woodall points out that while some changes to the widely disliked and detrimental Death Tax have been made, he contends that the agricultural community including NCBA, will not rest until there is a complete and total repeal of this tax. In addition, he says focus will be made, too, on revamping the capital gains tax, along with some other unfinished business from this past year, which he hopes will include some serious discussions on trade policy.
"We're excited about hopefully getting a very quick start on this," he said.
to read more or to listen to our Beef Buzz conversation about the chances for comprehensive tax reform under the Trump administration.
We are happy to have the Oklahoma Cattlemen's Association as a part of our great lineup of email sponsors. They do a tremendous job of representing cattle producers at the state capitol as well as in our nation's capitol. They seek to educate OCA members on the latest production techniques for maximum profitability and to communicate with the public on issues of importance to the beef industry. Click here for their website to learn more about the OCA.
On January 19th, Redlands Community College, in conjunction with other organizations involved in conservation research, will host a soil health field day at Darlington Chapel, the college's agricultural facility Northeast of El Reno. Oklahoma Conservationist Clay Pope, sat down with me this week, to discuss the event and why producers should pay close attention to the health of their soil.
Among the many reasons he listed, Pope highlights that without good, healthy soil, farmers could be throwing money away - more or less - on fertilizers and inputs that studies show are wasted on poor quality soils. He also says that not only will healthy soil increase overall productivity and profitability, it will also protect your property from erosion caused by flood and drought.
Pope encourages farmers to attend Redland's field day which will focus on the tools, that can help improve soil health. You can find more information about the event in a related article, here
"We're just trying to push this information out there and give producers some ideas on what they can do to help their bottom line," Pope concluded, "and be prepared when those droughts and floods come."Pope joins me as my guest on our weekly In the Field segment on KWTV News9
in the Oklahoma City area on Saturday morning at 6:40 a.m. Be sure to catch us there for more information, or you can click here
to read more and to listen to our conversation as we dig deeper into the facts of soil health.
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Applications to be considered for 2017 funding in the Agricultural Conservation Easement Program (ACEP) to protect critical water resources and wildlife habitat are due January 20, 2017.
Administered by USDA's Natural Resources Conservation Service (NRCS), ACEP provides financial and technical assistance to help conserve agricultural lands and wetlands and their related benefits.
Wetlands Reserve Easements
provide habitat for fish and wildlife, including endangered species, improve water quality by filtering sediments and chemicals, reduce flooding, recharge groundwater, protect biological diversity and provide opportunities for educational, scientific and limited recreational activities. Wetlands easements are available to private landowners and Native American tribes.Agricultural Land Easements
protect the long-term viability of the nation's food supply by preventing conversion of productive working lands to non-agricultural uses. Native American Tribes, state and local governments and non-governmental organizations are eligible to partner with NRCS in these easements.
For more information on how to apply for either a Wetland Reserve Easement or an Agricultural Land Easement, click here
|Monsanto Highlights Broad Set of Solutions Aimed at Helping Farmers Produce Better Harvests
Monsanto announced its 2017 updates on progress made across its research and development pipeline over the past year. The company's commitment to this annual pipeline showcase is founded in a dedication to innovations that support farmers as they work to meet the needs of society while using natural resources more efficiently. The company's industry-leading pipeline integrates seeds, traits, crop protection and data science to support growers by mitigating challenges posed by weeds, insects, diseases and environmental shifts resulting from climate change each season.
"The role that agriculture plays in our daily lives has never been more critical - including meeting the world's growing needs and driving on-farm practices that preserve biodiversity and our natural resources like soil and water," said Robert Fraley, Ph.D., Monsanto's chief technology officer. "Science is helping us identify new solutions to help farmers and this marks a record year for our R&D pipeline - with 14 projects advancing to launch and the first unveiling for more than 35 projects in the Climate pipeline. Going forward, we believe we have a greater opportunity to accelerate innovation, optimize integrated solutions and expand offerings through our combination with Bayer - translating to significant benefits for farmers around the world."
Monsanto's R&D platforms span five areas of agricultural technology: data science, plant breeding, plant biotechnology, crop protection and ag biologicals.
As part of the announcement, Monsanto highlighted how its proposed combination with Bayer will help create a leading global agriculture company that would accelerate innovation for farmers around the world; deliver new, optimized integrated solutions to support the future of agriculture; and expand offerings to benefit farmers globally.
To get the full story on Monsanto's big announcement, click here.
|Drought Strengthens Grip on Oklahoma- Over Half of State Now in Severe to Extreme Drought Conditions
In his latest Mesonet Ticker, State Climatologist Gary McManus spends a lot of time on the winter weather sweeping in this morning from the Oklahoma and Texas Panhandles into parts of the main body of the state- only problem- the snow is very dry and the state remains even more dry than the snow- as Gary writes "The amount of severe-extreme drought increased
10 percent this week as more and more impact reports (dead pastures and crops, dry farm ponds, etc.) pour in. That leaves 83 percent of the state in drought and climbing."
Here's the graphic that shows the latest expansion of drought in the state:
Unfortunately- the next ten days show little chance to roll those numbers back any- and the reality is that the amount and the level of drought is likely to keep right on expanding in the next few reports.
|Waiting on the President Elect..........
As we get ready to hit "send" on today's email- there is nothing from the Trump Transition team as of yet this morning- this after Politico doubled down on what they say they are hearing about former Georgia Governor Sonny Perdue III. Politico nows says they have two sources familiar with the situation telling them that Perdue will be the USDA Ag Secretary.
HOWEVER- the US Farm Report tweeted yesterday afternoon that Indiana farmer Kip Tom, who is a member of the Trump Ag Advisory group, was at Trump Tower yesterday- speculating that maybe he is in the mix for the job as well.
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