From:                              Ron Hays <> on behalf of Ron Hays <>

Sent:                               Thursday, May 19, 2016 6:09 AM

To:                                   Pam Arterburn

Subject:                          Oklahoma's Farm News Update




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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 futuresclick here for the report posted yesterday afternoon around 3:30 PM.



Okla Cash Grain:  

Daily Oklahoma Cash Grain Prices - as reported by the Oklahoma Dept. of Agriculture for Wednesday 5/18/16.



Futures Wrap:  

Our Daily Market Wrapup from the Radio Oklahoma Network - analyzing the Futures Markets from the previous Day.


Feeder Cattle Recap:  

The National Daily Feeder & Stocker Cattle Summary- as prepared by USDA.


Slaughter Cattle Recap: 

The National Daily Slaughter Cattle Summary- as prepared by the USDA.


TCFA Feedlot Recap:  

Finally, here is the Daily Volume and Price Summary from the Texas Cattle Feeders Association.





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Ron Hays, Senior Editor and Writer


Pam Arterburn, Calendar and Template Manager


Dave Lanning, Markets and Production


Macey Mueller, Web and E-mail Editor

Oklahoma's Latest Farm and Ranch News

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Your Update from Ron Hays of RON

   Thursday, May 19, 2016



Howdy Neighbors! 

Here is your daily Oklahoma farm and ranch news update. 

SurveyFeatured Story:

Jayson Lusk Discovers Major Misconception in What Consumers Know About Hormone Use in Animal Ag Production


The latest FOOD Demand Survey as produced by Dr. Jayson Lusk and his team in the Ag Economics Department in the Division of Agriculture at Oklahoma State University is out- and some interesting facts about what consumers believe in how animals are raised have surfaced.

According to Dr. Lusk in his blog on the latest survey, the major Ad Hoc question had to do with hormone use in meat production in the US.

Dr. Lusk writes "For the ad-hoc questions, we delved into consumers' beliefs about the use of added growth hormones in livestock and poultry production. 

"First, participants were asked: "What percentage of the following types of farm animals in the United States are given added hormones to promote growth and muscle development?". The average answers were 60% for beef, 54% for pork, and 55% for broiler chickens. These answers are quite wrong.

"Virtually all feedlot cattle in the US are given added growth hormones but NONE of the hogs or broiler chickens are given added hormones. Fewer than 2% of respondents knew this last fact. That is, 98% of respondents incorrectly think hormones are used in pork and chicken production. 

"What impacts might these false beliefs have? As it turns out, the impacts are non-trivial. For example, consumers' responses to our initial choice questions that are used to derive WTP for each of the meat cuts depend on consumers perceptions about the prevalence of hormone use. The larger the fraction of animals a consumer believes receives hormones, the less they're willing to pay for meat from that type of animal. Here's a quick analysis I ran asking the question: how would consumers' WTP change if they went from having the current average level of false beliefs to knowing the truth? 

"The "Willingness to Pay" for ground beef and steak would fall (because more cattle are given hormones than most people think) and WTP for pork and chicken would increase (because none of these animals are given added hormones despite the fact people think they are). What this suggests is that demand for pork and chicken is depressed by false beliefs.





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EPAEPA Proposes Increase in Renewable Fuel Levels


The U.S. Environmental Protection Agency (EPA) Wednesday proposed increases in renewable fuel volume requirements across all types of biofuels under the Renewable Fuel Standard (RFS) program. The proposed increases would boost renewable fuel production and provide for ambitious yet achievable growth.

"The Renewable Fuel Standards program is a success story that has driven biofuel production and use in the U.S. to levels higher than any other nation," said Janet McCabe, acting assistant administrator for EPA's Office of Air and Radiation. "This administration is committed to keeping the RFS program on track, spurring continued growth in biofuel production and use, and achieving the climate and energy independence benefits that Congress envisioned from this program."

The proposed volumes would represent growth over historic levels:

- Total renewable fuel volumes would grow by nearly 700 million gallons between 2016 and 2017.

- Advanced renewable fuel - which requires 50 percent lifecycle carbon emissions reductions - would grow by nearly 400 million gallons between 2016 and 2017.

- The non-advanced or "conventional" fuels portion of total renewable fuels - which requires a minimum of 20 percent lifecycle carbon emissions reductions - would increase by 300 million gallons between 2016 and 2017 and achieve 99 percent of the Congressional target of 15 billion gallons.

- Biomass-based biodiesel - which must achieve at least 50 percent lifecycle emissions reductions - would grow by 100 million gallons between 2017 and 2018.

- Cellulosic biofuel - which requires 60 percent lifecycle carbon emissions reductions - would grow by 82 million gallons, or 35 percent, between 2016 and 2017.

The Clean Air Act requires EPA to set annual RFS volume requirements for four categories of biofuels. By displacing fossil fuels, biofuels help reduce greenhouse gas emissions and help strengthen energy security. EPA is proposing to use the tools provided by Congress to adjust the standards below the statutory targets, but the steadily increasing volumes in the proposal continue to support Congress's intent to grow the volumes of these important fuels that are part of the nation's overall strategy to enhance energy security and address climate change. EPA implements the program in consultation with the U.S. Department of Agriculture and the U.S. Department of Energy. 

EPA will hold a public hearing on this proposal on June 9, 2016, in Kansas City, Mo. The period for public input and comment will open until July 11. 



Click here for a link to more information on the EPA's proposal.


ReactionNational Agricultural Organizations React to EPA's Proposed Renewable Fuel Volume Requirements 


On Wednesday the EPA released proposed 2017 Renewable Volume Obligations (RVOs) for the Renewable Fuel Standard (RFS). The EPA suggests that proposed increases would boost renewable fuel production, but some agricultural organizations say the proposed increases still fall short of the RFS statutory level of 15 billion gallons for conventional biofuels.



"EPA has moved in a better direction, but we are disappointed that they set the ethanol number below statute," says Chip Bowling, president of the National Corn Growers Association. "The Renewable Fuel Standard is working for America. It has made our air cleaner. It has spurred investment in rural communities and created high-tech jobs. It has given drivers more choices at the gas pump. And it has reduced our dependency on foreign oil. Any reduction in the statutory amount takes America backward - destabilizing our environment, our economy and our energy security." Read Bowling's complete statement here.



The EPA proposed a total renewable fuel volume of 18.8 billion gallons (BG), of which 4 BG is advanced biofuel and 312 million gallons is cellulosic biofuel. That leaves a 14.8 BG requirement for conventional renewable fuels like corn ethanol. The Renewable Fuels Association has consistently called on EPA to follow congressional intent by increasing blending targets, and is currently involved in litigation on the final 2014-2016 targets.



"For months, EPA has been saying it plans to put the program 'back on track.' Today's proposal fails to do that. The agency continues to cater to the oil industry by relying upon an illegal interpretation of its waiver authority and concern over a blend wall that the oil industry itself is creating," says RFA President and CEO Bob Dinneen. "As a consequence, consumers are being denied higher octane, lower cost renewable fuels. Investments in new technology and advanced biofuels will continue to languish and greenhouse gas emissions from automobiles will be unnecessarily higher." Read Dinneen's complete statement here.



Emily Skor, CEO of Growth Energy, echoes Bowling and Dinneen with her comments concerning the EPA's proposal.



"We are encouraged that the EPA proposal takes a step forward, signaling the critical importance of cleaner burning, less expensive biofuels, like ethanol. However it still falls short of the goals of the Renewable Fuel Standard. Ethanol producers, retailers and the current auto fleet are fully capable of providing consumers with a true choice at the pump." Read Skor's complete statement here.


U.S. Sen. Jim Inhofe, chairman of the U.S. Senate Environment and Public Works (EPW) Committee, also weighed in on the proposal.



"While we welcome EPA's timely release of the RVOs in line with the statutory deadline, the agency's numbers continue to disregard market realities related to demand for gasoline and the availability of cellulosic biofuel. As I've said before, the RFS is a flawed program that creates nothing but uncertainty and unnecessary volatility for our refiners," Inhofe says.


BeefBuzzSuperior Livestock's Danny Jones Hopes to Prove the Concept- Starting Next Week- with


We are less than a week away from the first internet sale set for next Wednesday, May 25. Superior Livestock Auction is creating the electronic auction format to help expand the cash market for fed cattle in order to establish a better basis for formula pricing.

Superior Livestock Auction President Danny Jones says the first few sales will be pretty straightforward with the hopes of expanding to more options for buyers and sellers in the future. 

"In order for us to make this simple and to prove the concept that price discovery can work in the fed cattle arena, we are doing cash price for immediate delivery only to begin with," he says. "We do feel like that overtime this can be expanded beyond just immediate delivery and beyond just cash price to include future delivery, to include specialty programs, to include basis for a formula rather than just cash trade that gets reported into the plus or minus on formulas for futures."

While credentials are required to buy and sell cattle (go to the website for more information), Jones says there will be a "watch only" option for those interested in seeing how the auction works.

He says it will be different from what folks are used to when they watch a regular SLA sale.

"Don't expect what you've seen in a typical Superior Livestock video auction," he says. "There is no auctioneer; it's an electronic format that you can see the bids taking place and the cattle being sold."

Hear more about how the new will work during the latest Beef Buzz. 



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BayerBayer Chases Monsanto in Latest Agribusiness Merger Move


It is the Corporate version of "Kiss and Tell."  Executives from Bayer AG have met with corporate leadership of Monsanto to talk about the German company buying the US Biotech giant.

After that meeting- Monsanto opened their corporate mouth first- responding to media reports about the meeting- saying in effect- we did not start this relationship- "In response to recent media reports, Monsanto Company (NYSE: MON) disclosed that it has received an unsolicited, non-binding proposal from Bayer AG for a potential acquisition of Monsanto, subject to due diligence, regulatory approvals and other conditions. The Board of Directors of Monsanto is reviewing the proposal, in consultation with its financial and legal advisors. Monsanto will have no further comment until its Board of Directors has completed its review. There is no assurance that any transaction will be entered into or consummated, or on what terms."

With that "out there," Bayer quickly told their side of the story- "Bayer executives recently met with executives of Monsanto to privately discuss a negotiated acquisition of Monsanto Company.

"The proposed combination would reinforce Bayer as a global innovation-driven Life Science company with leadership positions in its core segments, and would create a leading integrated agriculture business.

"This statement follows Monsanto's announcement earlier today regarding a proposal from Bayer. A further statement will be made as appropriate."

Analysts believe that Monsanto is worth forty two to forty three billion dollars- and CNN Money indicates in a Thursday morning report of these discussions "While the companies did not disclose the offer's financial terms, Monsanto (MON) is likely to command a price that exceeds its current market value of $42 billion. Any deal would require regulatory approval."

Bloomberg goes more in depth into what they call the woes of Monsanto- saying that the company appears to be ripe for a takeover- click here to read their analysis of where the US Agribusiness Giant stands in this global merger dance.


Want to Have the Latest Energy News Delivered to Your Inbox Daily?


Award winning broadcast journalist Jerry Bohnen has spent years learning and understanding how to cover the energy business here in the southern plains- Click here to subscribe to his daily update of top Energy News.


 WarrenDirtSoil Scientist Jason Warren Offers the Dirt on Soil Health and Practices Like No Til and Cover Cropping


Finding the right crop rotation can be a key to successful no-till farming, and Dr. Jason Warren, assistant professor and soil and water conservation/management extension specialist at OSU, says cover crops are finding their way more and more into those rotations.

For a continuous wheat producer, Warren suggests planting a cover crop to graze.

"I'm not a big fan of planting sorghum sudan if I'm going to just plant wheat back into the standing material, but if I want to run cattle on it, I'm going to have sorghum sudan out there because that's a high forage-producing grass," he says. "But if I just want to grow nitrogen, then I'm going to grow cowpeas.

"And if I want a little bit of both, then I'll plant them both together."

Warren says farmers need to know that planting a minor broadleaf species with a grass, such as cowpeas and sorghum sudan, will reduce the tonnage of material produced because the tonnage comes from the grass. 

"If we want a big tonnage - sorghum sudan or something like pearl millet that's going to grow a lot of biomass," he says. "If you want smaller tonnage to just cover the ground, then you could go with like a German millet."

Warren says planting a summer cover crop can also have a positive effect on soil health.

"I grew up flipping dirt in western Oklahoma, and I look around at all these soils where we're flipping dirt, and they've been severely damaged. I mean we've plowed two feet into the soil in some cases from erosion," he says. "Where we're no-tilling it, we're seeing tremendous improvements in the organic matter and biological activity, and therefore, the productivity of those soils.

"And a lot of that productivity comes from our willingness to plant a summer crop."

Warren says the key to soil health is "finding a productive, economically viable rotation."

I talked with Dr. Warren during the Lahoma Wheat Field Day last week. Click here to learn more about choosing and integrating cover crops into a no-till rotation.


ThisNThatThis N That- Cattle on Feed, Superior Sale and ITC Report on TPP

The May First Cattle on Feed report from USDA will be released tomorrow afternoon at 2:00 PM Central time- after the markets have closed for the weekend.  Rich Nelson and the folks at Allendale have provided us their pre report analysis about what they believe the report will be saying:

"April Placements are expected to be 1.1% smaller than last year at 1.531 million head. There was one less weekday in April 2016 vs. 2015. This is the smallest April placement in four years. USDA's cattle feeding margin model showed a $123 per head profit for outgoing cattle in April for a very light 1,250 lb. animal. This officially ends the most severe period of cattle feeding losses in our database. Corn averaged $3.44 in Western Kansas in April ($3.40 in March, $3.80 in April 2015). April placements supply the September through November slaughter period.

"Allendale anticipates a Marketing total 1.8% larger than April 2015 at 1.669 million. This was the second smallest April marketing since the data-series started in 1996. There was one less weekday and one more Saturday in April 2016 vs. the previous year. This artificially decreased the number by 3.7%.

"Total Cattle on Feed as of May 1 is 0.1% larger than last year at 10.655 million. That is a decrease over the April 1 total that was +0.5% from one year ago."


The next regular every other week Superior Video Livestock Sale is set for tomorrow morning- starting at 8 AM central time- to be seen on DISH Network channel 232 and on the internet at SuperiorClickToBid.Com.

The sale will include 28,000 head- featuring:
3,400 Holsteins and Jerseys
5,900 Yearling Steers
3,900 Yearling Heifers
5,800 Weaned Calves
8,100 Calves on Cows
900 Bred Stock

More details are available on the Superior Website by clicking here- or you can always call for more information at 1-800-422-2117.


On Wednesday afternoon- the US International Trade Commission offered their ideas on the impact of the Pacific Rim Trade Deal- the Trans Pacific Partnership.  They see the US benefiting to the tune of billions of dollars if the deal is ratified.

US Ag Secretary Tom Vilsack likes what the ITC is saying- "Today's ITC report echoes what every major reputable study on TPP has now found, from the Petersen Institute to the American Farm Bureau Foundation, which is that TPP will provide strong benefits for the U.S. agriculture sector, with agricultural output set to be $10 billion higher per year by 2032 than it would without the agreement."

Click here for the complete statement from Secretary Vilsack- and a link to more details of the report from the ITC.


Our thanks to Midwest Farms Shows, P & K Equipment,  American Farmers & Ranchers, Stillwater Milling Company, Oklahoma AgCreditthe Oklahoma Cattlemens Association, Pioneer Cellular, Farm Assure and  KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!



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