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Let's Check the Markets!
Superior Livestock sold just over 33,000 head on Thursday- click here for the USDA market news report from their sale.
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, February 24, 2017
Chairman of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry Pat Roberts
, held the first hearing on the 2018 Farm Bill in Manhattan, Kansas yesterday at Kansas State University. To read the Chairman's opening remarks, click here.
The Committee heard testimony and was welcomed by U.S. Representative Roger Marshall of Kansas' Big First District, a member of the U.S. House Agriculture Committee, as well as Kansas Secretary of Agriculture, Dr. Jackie McClaskey, and President of Kansas State University and Retired U.S. Air Force General, Richard Myers.
Chairman Roberts and Ranking Member Debbie Stabenow then heard from two panels of witnesses representing agriculture and other stakeholders in rural communities.
One of those that appeared before the committee was Lucas Heinen, testifying on behalf of the American Soybean Association, who farms in Everest, Kansas, and serves as the president of the Kansas Soybean Association, pointed to the state of the farm economy as the most compelling signal of the need for a robust risk management framework in the farm bill. Citing falling prices for soybeans and the reduced cost of the 2014 Farm Bill as compared to original estimates, Heinen noted that ASA will push to fund farm bill programs to the level needed to adequately address each program's needs, even if that means increasing funding.
"I understand that the conventional view in Washington is that the cost of farm programs and other parts of the farm bill will need to be reduced again, just as they were in the 2014 farm bill. This is not acceptable to producers," said Heinen.
Heinen continued by detailing four key areas in which soybean growers will seek to make headway in the farm bill negotiations, including a strengthening of crop insurance and a continuation of the Agriculture Revenue Coverage option decoupled from planted acreage and with a shift to the use of yield data from USDA's Risk Management Agency, as well as support for current conservation programs, including EQIP and the Conservation Stewardship Program, agricultural research, and Energy Title programs focused on biodiesel and biobased products.
For more details on ASA's Farm Bill roadmap, click here.
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National FFA Week is in full swing and in spirit of that celebration, I invited the Oklahoma State FFA Officer team to join us in studio this week to talk about some of their experiences leading up to now, just a few weeks ahead of the Oklahoma State FFA Convention, where all but one of the current team, will hang up their blue jackets for the last time.
"We already have started and we're getting more ready every day," said State FFA President Cale Jahn of Elgin. "We really look forward to State Convention because that's a time when we get to highlight the accomplishments of our members and we get to see the good they brought not only for themselves but for their communities and their chapters as well.
"It's easy to say this year's been a blessing, but we've been able to serve FFA members. We've been able to try to set that example that was set for us. We hope that we have done that, but we've had a blast doing it."
Jahn and State FFA Reporter Adrienne Blakey
will join me 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 them then. In the meantime, you can listen to my off-camera interview with several of the members of the State Officer team about their experiences serving the organization over the past year, click or tap here
Bob Hunger, Extension Wheat Pathologist from the Department of Entomology & Plant Pathology at Oklahoma State University indicated last November that leaf rust was severe in many wheat varieties that had been planted early this year in Dr. David Marburger's variety demonstration strips in Stillwater.
Hunger authored a Wheat Disease Update, released this week, describing his findings.
"As we moved into December and January," Hunger wrote in his update, "there were two severe cold spells along with drought that caused significant death of the rank foliage. Many of the burned/dead leaves were infected with leaf rust, and killing of these infected leaves stopped the spread of leaf rust to new/young foliage. The burning of the foliage in these plots was quite noticeable in mid-January. Last week I examined these plots to see if leaf rust had overwintered, and sure enough, viable leaf rust pustules were present on some of the newer/younger leaves.
"Hence, leaf rust has overwintered in much of Oklahoma and inoculum to start this disease in the spring will come not only from within the state, but also from Texas where widespread, moderate levels of leaf rust have been reported. The two recent widespread rain events also will support the further infection and spread of leaf rust in Oklahoma, but weather through March and April still will be the ultimate determiner as to how severe leaf rust becomes in Oklahoma in 2017."
to learn more about the impact leaf rust will have on crops this year, as well as the risks associated with stripe rust this year also.
|Just How Prepared are We for the Event of a Foreign Disease Outbreak in the Heart of Cattle Country?
The most dangerous animal diseases can be found in a laboratory on Plum Island just off the coast of New York, at least for now. Currently, there is an effort to transfer these contained pathogens to a biosecurity safe laboratory at Kansas State University in Manhattan. I spoke with Dr. Kathy Simmons
, chief veterinarian for the National Cattlemen's Beef Association recently. According to her, this upgrade of facilities will certainly help advance the research being done on infectious agents such as Foot and Mouth disease, to keep our food supply safe from contamination.
"I think it's important to have the new facilities simply because the old facilities limited some of the work that could be done," she said. "Having the facility in Manhattan should be able to secure the agents and allow us to have some advanced work done with some of these agents."
The advanced research capabilities this new facility will enable scientists to conduct, will greatly improve the preparedness efforts of the industry, ever conscious of the possibility of an outbreak.
"We always strive to be better prepared," Simmons asserted. "I think that's going to be key - for the event of an FMD outbreak in the heart of cattle country. We need to continue to move product, so we need to be able to eradicate the disease and we need to get back to normal as quickly as possible."
Listen to our full conversation regarding the industry's plan for food supply security, on yesterday's Beef Buzz - click here
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|House Chairman Mike Conaway Continues to Preach Sooner Rather Than Later on 2018 Farm Bill Timeline at Ag Outlook
Look for the U.S. House to complete its farm bill by the end of this year or early next to reform the SNAP food stamp program, but only tweak major commodity programs, with a couple of exceptions. That from House Agriculture Chairman Mike Conaway at this year's annual Department of Agriculture Ag Outlook Forum across the river from Washington in Arlington, Va.
Conaway told the 93rd annual Ag Outlook Forum not to look for "drama" in this year's farm bill proceedings and to forget about short-term extensions and the threat of permanent farm law- as he intends to proceed quickly later this year in writing policy that will come out of his committee.
Conaway has as a goal to be done on time, for the first time in 16-years, so producers, implement dealers and creditors know how to plan.
Conaway vowed there will be SNAP reforms in the 2018 House farm bill, after two-years of hearings on SNAP, though Senate Ag Democrats successfully opposed dramatic cuts to the program in the 2014 bill. The cotton, dairy and ARC commodity programs will also see changes in a 2018 Farm Bill Proposal to be crafted on the House Side.
Conaway's comments are featured in our Friday morning farm news as heard on the Radio Oklahoma Ag Network- click here
to take a listen as we feature comments from both Conaway at the Ag Outlook forum as well as Senator Pat Roberts
from the Senate Field hearing at K-State.
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|Farm Bureau President Zippy Duvall Upbeat in His Assessment of Policy Issues at Ag Outlook Forum
The American Farm Bureau Federation's public policy agenda shares much in common with the Trump administration on issues like regulatory reform and tax reform. But even harder issues such as farm labor and trade should present opportunities to engage with Congress and the White House, alike, AFBF President Zippy Duvall told participants at the USDA's Agricultural Outlook Forum.
Duvall, who farms in Georgia, said America's farmers and ranchers have to make their voices heard on "all of these issues."
Duvall expressed optimism over President Trump's nomination of former Georgia Governor Sonny Perdue to lead the Agriculture Department.
"You couldn't ask for a finer gentleman or a stronger champion for our farmers and ranchers," Duvall said. "I believe he could be one of the all-time great Secretaries of Agriculture. And we need him confirmed so he can get to work."
As for policy issues- Duvall commented on a variety of things that matter to US agriculture- click or tap here to read more of what he told the Ag Outlook Conference yesterday in Virginia.
CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced financial results for the full year and fourth quarter of 2016.
Net income for the year rose 1 percent to $945.7 million, reflecting increased net interest income offset by a greater provision for loan losses as well as higher Farm Credit insurance fund premiums and other operating expenses. Net interest income increased by 7 percent to $1.4 billion, as a result of higher loan volume and increased earnings from balance sheet positioning, partially offset by lower spreads in the bank's loan and investment portfolios. CoBank's average loan volume increased 10 percent in 2016, to $91.6 billion, driven by higher levels of borrowing from affiliated Farm Credit associations, grain cooperatives, food and agribusiness companies, rural electric cooperatives and communications service providers.
For the fourth quarter of 2016, net income was $227.3 million compared to $236.3 million in the same period of 2015. Earnings declined primarily due to a $15 million provision for loan losses taken during the fourth quarter of 2016, which more than offset the positive impacts of higher net interest income. Net interest income for the quarter increased 3 percent to $345.0 million as a result of higher average loan volume. Average loan volume increased 7 percent during the period, to $93.2 billion.
"2016 marked another year of strong business and financial performance for CoBank," said Thomas Halverson, CoBank's chief executive officer. "Loan volume and net income reached all-time highs, while credit quality, liquidity and capital levels remained solid. Most importantly, we continued to fulfill our mission by delivering dependable credit to our customers, partnering effectively with other Farm Credit institutions, and providing support for rural industries and communities."
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