|We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Network weekdays- if you missed this morning's Farm News - or you are in an area where you can't hear it- click here for this morning's Farm news from Ron Hays on RON.
Let's Check the Markets!
FedCattleExchange.com sold 1,556 head on Wednesday- Weighted Average Price was $118.77 up $1.17 from a week ago- Texas-Oklahoma Pens of Cattle sold for $118.50 to $119.25. Full results are available here.
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
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Thursday, February 16, 2017
Governor Mary Fallin Issues Proclamation Lifting Burn Ban in 53 Counties After Recent Rainfall
Due to significant rainfall that moved across the state, Governor Mary Fallin
issued a proclamation yesterday canceling the Governor's burn ban that was in effect for 53 counties. This change came at the recommendation of Oklahoma Forestry Services after an analysis of the impact of the rainfall in the affected counties. The removal of the Governor's burn ban has no effect on county burn bans that were in place. OFS is contacting those counties to confirm which bans will remain or be rescinded.
"Individual counties can utilize more localized data, conditions and fire occurrence to decide if burn bans are called for on a county level," said Governor Fallin.
In the counties no longer covered by the Governor proclaimed burn ban, citizens are urged to check with local officials or click here
to see if county burn bans have been enacted before doing any type of burning.
"The rainfall had a positive impact on the larger forest fuels such as branches and fallen trees, but our light grassy fuels will dry out quickly and will still carry fire," said George Geissler
, Oklahoma State Forester. "We are still in our winter fire season and in the absence of spring green up we could find ourselves right back in high fire danger within a week or so. The rain just gave firefighters a break from the extreme fire behavior that necessitated the burn ban."
For more details on the threat of wildfires in Oklahoma, click here
to jump over to our website..
The Oklahoma Farm Bureau - a grassroots organization that has for its Mission Statement- Improving the Lives of Rural Oklahomans." Farm Bureau, as the state's largest general farm organization, is active at the State Capitol fighting for the best interests of its members and working with other groups to make certain that the interests of rural Oklahoma are protected.
One of the features that Oklahoma Farm Bureau is offering for this legislative season is a series of videos called Meet the Legislator. Their first video in the series can be seen here- it's with the President of the Oklahoma Senate- Mike Schulz of Altus:
Click here for the Oklahoma Farm Bureau website to learn more about the organization and how it can benefit you to be a part of Farm Bureau.
|Former House Ag Committee Chair Lucas Rants and Instructs His Colleagues About the Road Ahead in Writing the Next Farm Bill
The former Chairman of the House Ag Committee, Oklahoma Congressman Frank Lucas
, waited until almost the end of the first hearing by the Committee looking at issues that will help frame the debate for a 2018 Farm Bill- which will replace the Farm Bill he was an integral part in helping craft.
Lucas then took his five minutes to question the witnesses and instead bragged
a bit about the bill that became the 2014 Farm Law- ranted
about the difficulty of getting the bill done and offered sage advice
to his colleagues that it will be a daunting task that faces them if they intend to successfully write a new farm law in the next couple of years.Click here
to go and listen to Congressman Lucas and his words to his colleagues and really all of agriculture as we prepare to write a new farm bill- and you can read about his BRAG and his RANT there- but here in the morning email- let's cut to the chase and pick up his SAGE ADVICE about the job ahead:
Former Chairman Lucas told the Committee that this won't be a quick and easy process to get improved farm policy in place- saying "You're going to find out over the course of the next 18 months to two years how tough this is. The pressures that we will encounter from our friends on the right who as I like to say back home in my town hall meetings don't want to spend any money on anybody for any reason- and some of our friends on the left who don't want to spend any money on Rural America or the concept of modern wondrous production agriculture in this country." Lucas says that's where you have to find colleagues in the middle who will help provide the safety net for farmers that allow them to produce food for consumers who don't want to get caught on the wrong side of "Inelastic Demand."Chairman Lucas reminds one and all that if you are on the wrong side of "Inelastic Demand" you have no food and that is not a good thing.
The House Agriculture Committee convened yesterday to hear testimony from several economists regarding their perspectives on the current economic climate in the agricultural sector. Among those that testified was Dr. Joe Outlaw, an extension economist at Texas A&M.
"To be blunt these results are bad with very little hope of recovery on the horizon given the current price forecasts by FAPRI and USDA," Outlaw said referring to a study on farmer income conducted by he and his colleagues.
Outlaw contends that the programs included in the 2014 farm bill worked accordingly for all crops, except cotton, and urges more attention be paid not only to this segment, but really that an overall increase in federal support is warranted.
"It seems like nearly every month there is another report issued from interest groups who want to dismantle the producer safety net often saying programs are too lucrative," he testified. "Not only are the programs not too lucrative, but there is a growing need to provide additional funding as adverse economic conditions are expected to continue."
Get the full story and read or listen to Dr. Outlaw's complete remarks at yesterday's hearing, by clicking or tapping here
|Federal Reserve Executive Warns of Economic Crisis in Ag Sector if Current Conditions Allowed to Persist
Also testifying before the Ag Committee Wednesday was Federal Reserve Bank executive Nathan Kauffman who described the current outlook for the US farm economy as "subdued."
"Following several years of historically high farm income prior to 2014, which was primarily driven by strong demand for agricultural products and high commodity prices, farm income has dropped significantly and is expected to remain low in the near future," he said. "Put simply, the downturn in the agricultural economy appears to be continuing into a fourth consecutive year."
And while he reports that recent data from commercial banks suggests the pace of debt accumulation may be slowing, the debt-to-asset ratio in the farm sector has nonetheless increased modestly over each of the past four years. He says this is a sound measurement and indication that the health of the economy is waning.
"If farm income remains persistently low, if farmland values continue to decline, and if debt continues to rise, it is possible that key indicators of financial stress, such as debt-to-asset ratios, could rise to levels similar to the 1980s over a longer time horizon."
Click here to jump to the full story for more details, plus a chance to read or listen to Kauffman's complete testimony.
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Adding his two cents in to the discussion regarding the ag economic situation, Dr. Scott Brown from the University of Missouri testified on the outlook for the dairy and livestock segments.
"At this point, the only livestock industry anticipating higher prices is the dairy industry as tighter global markets suggest milk prices can move higher from recent lows," Brown testified.
However, Brown agrees the lower cattle, milk and hog prices that caused financial stress on producers in 2016 will likely continue into 2017.
According to Brown, milk prices fell from $24 per cwt in 2014 to $16 in 2016, citing the failure of the 2014 Dairy Margin Protection Program to have worked as planned. He reports there is growing concern for the 2018 farm bill to provide a viable alternative to the dairy safety net program contained in the 2014 farm bill, while also taking into account the volatility of cash receipts in the dairy industry.
"Identifying a safety net program for dairy producers that can moderate the billions of dollar change in dairy cash receipts that have occurred in the last few years and yet only show an average cost of $79 million to the federal government is a large challenge," he said.
For more details and your chance to review Brown's full statement in written or audio format, click here
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OSU's Dr. Derrell Peel knows the Mexican cattle business probably better than just about anybody North of the border. I reached out to Dr. Peel for his take on what might happen if talk turns to action and NAFTA is in fact reopened for negotiation by the new administration.
"I think meat industries in general and the beef industry perhaps in particular, is somewhat nervous about the idea of any disruptions or changes in the trade relationship we have right now," Peel said. "NAFTA has been a pretty good deal for the meat industry, so I think there is relatively little room for improvement."
According to Peel, Mexico is not only one of the major export destinations for US beef; it is also a key source for our beef imports. Add pork and poultry to that equation and Peel says Mexico accounts for 24 percent of our total meat export business.
"Any sort of disruption in any of those markets would have significant implications back home in the domestic market," Peel claimed. "(Markets) continue to evolve and anything you change from that is probably going to be a step backwards from that in term of the meat industries."
Bottom line - Peel says there's not much advantage to changing up the treaty when it comes to the US beef industry.
Listen to our discussion on the implications renegotiating NAFTA could have for the US beef industry, on yesterday's Beef Buzz - click or tap here
During the U.S. Grains Council 14th International Marketing Conference & 57th Annual Membership Meeting in Panama City, Panama, Chip Councell, USGC chairman and a grain farmer in Maryland and Manuel Benitez, Panama Canal deputy administrator, signed a formal memorandum of understanding between the two organizations on the importance of the Panama Canal to U.S. grain trade.
Sixty-nine percent of all cargo traveling through the Panama Canal originates from or is destined for the United States, including roughly one-third of total U.S. grain exports. The canal's new set of locks, part of recent expansion efforts, will open opportunities for larger and more efficient shipments of all products.
Approximately 350 delegates and attendees had the opportunity to visit the Agua Clara locks as well as the Miraflores locks, where ships cross below the Bridge of the Americas that connects North and South America.
Learn more about the US Grains Council event and the MOU signed, by clicking here
to read the full story.
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