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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
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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 20, 2017
President Elect Donald Trump Finishes Out Cabinet- Picks Sonny Perdue for Secretary of Ag
President-elect Donald J. Trump announced yesterday his intention to nominate former Governor of Georgia Sonny Perdue as Secretary of Agriculture.
As the former governor of a state that produces billions in agricultural products each year, Sonny Perdue has embraced policies under which Georgia farmers have thrived, and he is ready to generate the same level of success on the national level. Having been raised on a farm and worked as a veterinarian, Perdue is deeply in touch with the concerns of American farmers and will fight for their prosperity.
"Sonny Perdue is going to accomplish great things as Secretary of Agriculture," said President-elect Donald J. Trump. "From growing up on a farm to being governor of a big agriculture state, he has spent his whole life understanding and solving the challenges our farmers face, and he is going to deliver big results for all Americans who earn their living off the land."
"I am proud and honored to be joining President-elect Trump's administration as his Secretary of Agriculture," said Sonny Perdue. "Beginning as a simple Georgia farm boy, making sure Americans who make their livelihood in the agriculture industry are thriving is near and dear to my heart, and I'm going to champion the concerns of American agriculture and work tirelessly to solve the issues facing our farm families in this new role."
Sonny Perdue was born in Perry, Georgia, to a lifelong farmer and a classroom teacher. He graduated from Warner Robins High School and earned a doctorate in veterinary medicine in 1971 from the University of Georgia. Following his service as a Captain in the United States Air Force, Perdue became a successful small business owner, concentrating in agribusiness and transportation. Today, those businesses have grown to include several locations across the Southeast. Perdue would later serve his home state as its governor after an 11 year stint as a state senator. He is a committed family man, living the past 44 years at his wife, Mary's, side.
to read the full statement from the Trump Transition Team announcing Perdue's nomination to head the USDA.
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.
|Ag Groups Rally in Support Around Sonny Perdue as Trump's Nominee for Next Secretary of Agriculture
As news spread across the country yesterday of Sonny Perdue's nomination as Secretary of the USDA by President-elect Donald Trump, ag groups from every segment of the industry chimed into the national conversation to offer their congratulatory support for the new presumptive leader of their shared vocation.
The National Corn Growers Association congratulated Governor Perdue on his nomination to lead USDA, stating that they, "look forward to his confirmation hearing, and learning more about his positions on issues important to corn farmers and the entire agriculture industry." Click here
to read NCGA's full statement.
National Cotton Council Chairman Shane Stephens
said, "It is encouraging to see a Secretary of Agriculture nominee with a strong production agriculture and agribusiness background and with experience, who comes from the second largest cotton-producing state." Click here
to read NCC's full statement.
"His background as a veterinarian and direct connection to the farming community will help to enhance the relationship between the department and those on the ground in modern agriculture in every state who seek to make their voices heard," said Jay Vroom
, president and CEO of CropLife America. Click here
to read CLA's full statement.
"Georgia is the No. 2 cotton-producing state in the nation, so as growers, we appreciate the fact that Perdue is aware of the challenges facing our industry in particular," Plains Cotton Growers President Johnie Reed
, a cotton producer from Kress, said. Click here
to read PCG's full statement.
"Agriculture is the backbone of our nation," said House Ag Committee Chairman Mike Conaway. "I look forward to working with Sonny Perdue, especially on the committee's priorities as Congress begins its work toward the next Farm Bill."
House Agriculture Committee Ranking Member Collin Peterson also released a statement expressing his confidence in Perdue's capability of fulfilling the duties of Secretary of Agriculture.
"Agriculture and rural America play such an important role in our economy," he said. "With the appointment of Perdue, who has a background in agriculture, I am hopeful we will get a better sense of the incoming administration's policy plans for rural America."
to jump to the statements issued by the leadership of the House Committee on Agriculture.
Wednesday evening- several other groups- including the American Farm Bureau
and the National Cattlemen's Beef Association
praised the Trump choice to be Ag Secretary- click here
for those earlier statements of affirmation.
At the end of this month, USDA will release its Cattle Inventory report, illustrating in comprehensive detail, just exactly how large our current cow herd is as of the first of the year. I reached out to OSU's Dr. Derrell Peel
, to get his predictions on what the report might reveal about cow herd expansion this past year in 2016, and what clues there might be relative to what could be expected to come this year. He says that without a mid-year report for 2016, the first step is to confirm what we already suspect about last year.
"I think it was an expansionary year - slower than 2015, but I'm expecting at this point we'll see the beef cow herd, from the beginning of 2016 to the beginning of this year expanded somewhere in the range of 1.5 to 2 percent," Peel said. "That said, if you look at the way beef cow slaughter and heifer slaughter changed in the second half of 2016, it would certainly suggest that we are putting the brakes on that herd expansion."
In terms of future expectations for 2017, Dr. Peel says he would not be surprised to see little to no growth, potentially even some liquidation, although he really doesn't expect that to be the case. He says he will be looking in particular at replacement heifer inventory for clues as to how things may unfold over the coming months. However, Peel hypothesizes that should we see growth in the report, beef cow numbers are likely to start plateauing as we move through 2017.
"If we had an increased herd in 2016 as I expect, then that implies that we continue to see feeder supplies and ultimately beef production grow through at least 2018," Peel said. "We might be seeing some stability in the herd which would lead them to a plateau in beef production once we got passed that."
Listen to my full conversation with Dr. Peel as he makes his predictions about the next USDA cattle inventory report, on yesterday's Beef Buzz, by clicking here
Producers gathered in El Reno yesterday at the fifth Central Oklahoma Soil Health Seminar to learn about the tools and technology available to them to improve the practice of conservation programs implemented on their operations that help to increase the overall productivity and profitability on their land.
Our Associate Farm Director Carson Horn was on the scene there and spoke with the event's organizer, Clay Pope, a conservation consultant.
"We're just trying to get more information to folks that are trying to do some things to help their bottom line and also harden the farming and ranching operations to droughts and floods and other extreme weather events," he said.
One of the main focuses on the day's agenda, were guest speakers there to discuss the many financial programs offered by the government that producers can take advantage of to help them improve their lands and secure their streams of income.
"If we can help folks like that - help their bottom line while at the same time help the environment, too," Pope said, "I think it's win-win for everybody."
Listen to Horn's entire conversation with Pope as he describes the programs at yesterday's soil health seminar, by clicking here.
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.
Dr. Kim Anderson is on SUNUP again this week, and we've got the scoop on his advice to wheat producers before the show airs in a couple days.
According to Dr. Anderson, producers have seen an increase of about a dollar in wheat prices after they bottomed out early last fall, resting now at about $3.15, plus an additional .03 of interest if taken from the loan. He says if producers took it all out now, they would save about three months storage cost of .12-.15 bringing a total expected price of roughly $3.53 - $3.60.
Under current conditions, now, Anderson advises, is probably a good time to start taking wheat out from the loan. If not all at once, then at least staggered slowly over the next few weeks and months.
Looking ahead, based on weather forecasts, Anderson says he expects an average crop in 2017.
He says that if producers can secure a good weight and protein in their wheat crops this year, we could expect to see rallies in the futures market, resulting in a higher cash price. His advice - sell your wheat at harvest.
For more of Anderson's advice, you can continue reading or listen to his breakdown of wheat markets in its entirety, by clicking here
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|An Ever So Slight Dent in the Drought According to the Drought Monitor Folks
We did get some lessening of drought reported in the latest Drought Monitor released yesterday morning- but perhaps not quite as much as some folks were anticipating after the healthy amounts of rain received this past weekend (along with ice in parts of the state that eventually melted and gave us more liquid relief.)
According to Gary McManus, Oklahoma State Climatologist- "The U.S. Drought Monitor process discourages/frowns upon/nearly forbids (get the picture?) improving or intensifying drought by more than one category in a week. Upon rare occasions, in extreme circumstances, you can see drought jump back or forwards 2 categories, but again, very rare. And that's because drought is a very slow process, and its assessment relies upon its impacts, or the changes in those impacts from week to week."
Gary, in his latest Ticker blog, offered this map that shows the improvement from a week ago:
The pale green is the one category improvement that allowed the severe to extreme drought levels drop by almost 27 percentage points in a single week- which is pretty impressive.
McManus points out that Drought has still a very strong grip on the state and shows itself in several ways:
"Long-term impacts like deep-layer soil moisture and reservoir levels are still suffering.
"Those lake level could still go up a bit due to last week's event as water travels the streams and tributaries in those drainage basins, but the levels will still be below normal. Other impacts, like damage to crops and grasses are either irreversible (such as in failed wheat crops), or too early in the season to repair (pastures don't grow during the winter, for the most part)."
To read Gary's full report- and see all of his many, many graphics showing the latest impacts of the latest rainfall and more- click or tap here.
A successful campaign to drive nationwide sales of fresh beef at retail has resulted in the confirmed movement of more than 270,000 units of fresh ground beef in less than two weeks. Yesterday, the Federation of State Beef Councils of the National Cattlemen's Beef Association approved an additional $300,000 to extend the partnership with the mobile rebates app Ibotta through the Super Bowl, giving consumers more reasons to purchase great tasting beef.
Ibotta is a consumer mobile app that has a subscriber rate of 19 million mostly-millennial consumers and growing. Consumers who download the app can browse the grocery category for rebates on fresh beef products, unlock the rebates and after reviewing educational information about beef buy the items at any grocery store nationwide to get cash back through Ibotta. Beef only pays for verified sales.
Initial results from the first few weeks of the campaign have been impressive. Nearly half of the redemption budget was exhausted in the first weekend. As of Jan. 16, more than 700,000 users unlocked ground beef rebates demonstrating the strong consumer demand for beef. Redemption rates for beef have been 35 percent, far surpassing the Ibotta average rate of 22 percent and delivering more than 14 million brand impressions for beef system-wide. In addition to increasing sales, more than 700,000 consumers received educational messaging about beef as a part of the campaign. These educational opportunities were delivered in the form of a beef recipe or an in-app task that helps consumers better understand nutritional benefits of beef.
Continue reading this article from the Federation of State Beef Councils, by clicking here
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