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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 Friday afternoon.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
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
Monday, June 26, 2017
Derrell Peel Says Latest Cattle on Feed Report Shows Continuing Trend of Growing Feedlot Inventories
Last Friday's Cattle on Feed report shows three percent more cattle on feed as of June first- with placements twelve percent above last May driving the bigger numbers in the feedlots.
Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel
says the report did not really hold any big surprises. Dr. Peel told me that "this report, in many ways, is very similar to the report of a month ago with a relatively large placement number and a pretty strong marketing number continuing- yet despite that, we are starting to see these on feed inventories starting to grow."
Dr. Peel says that this is the result of herd rebuilding that has resulted in more beef calves being born and becoming available for the feedlot pipeline.
We caught up with Derrell on Friday after the report- you can read more and hear our full conversation about the report and where we stand mid year on the cattle and beef markets- click or tap here
to jump to our website and check it out.
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Talk to a local team who understands agriculture. Talk to Oklahoma AgCredit. Financing rural Oklahoma. Equal housing lender.
|The Mess in Arkansas Over Dicamba
A roller coaster ride for Dicamba in the state of Arkansas came to an end on Friday when the Arkansas State Plant Board voted to recommend an emergency ban of Dicamba. The ban applies to Engenia(from BASF) products for the remainder of this crop season. The Xtendimax technology from Monsanto had already been banned in January of this year.
An earlier vote of 8-6 to ban dicamba was overturned on a procedural error on June 20th. The Plant Board upheld the original 8-6 vote in favor of a 120-day emergency order requiring all dicamba use to come to an end. The ASPB has received 242 complaints of dicamba misuse- these complaints were a driving force in doing a second vote on Friday.
The ban does not kick in until and unless both Arkansas Governor Asa Hutchinson
and the Executive Subcommittee of the Arkansas Legislative Council agree with the ban.An excellent read on what this really means for soybean farmers in Arkansas and in other states where dicamba tolerant crops have been planted is on Croplife.Com.
They quote Weed Scientist Dr. Bob Scott
of the University of Arkansas(you may have heard him speak at the Oklahoma Grain and Feed Association fall convention a year or so back on weed resistance) on the incredible problem dicamba drift is becoming- as it threatens to derail technology needed to battle pigweed that has become resistant to Roundup.
Scott says if the ban is put into place that there will be thousands of acres that cannot be sprayed for control of a major weed pest- "The bottom line is, if a farmer planted Xtend soybeans because he has PPO-resistant pigweed, he would be left without an option to control pigweed, so (a ban) would be a bad deal for those guys."Click here
to read the Croplife article.
|Senate Bill Would Shorten Depreciation of Farm Equipment for Farmers on a Permanent Basis
U.S. Senator Pat Roberts
of Kansas has joined Democratic Senators Amy Klobuchar
of Minnesota and Jon Tester of
Montana to introduce the bipartisan Agriculture Equipment and Machinery Depreciation Act to help farmers purchase new equipment and replace worn-out machinery by amending the U.S. tax code to permanently set a five-year depreciation schedule for certain agricultural equipment.
The current tax code sets a seven-year depreciation cost recovery period for agricultural equipment. Changing the depreciation schedule for agricultural equipment to five years would make the tax code more consistent and support rural development by aligning the length of time that farmers can take a depreciation deduction with the average useful life of that property.
"This commonsense legislation will give farmers and ranchers the certainty they need to invest in new, more modern equipment so they can create more jobs and growth in our communities," said Roberts, Chairman of the Senate Agriculture Committee. "A five year depreciation schedule allows for predictability and fairness in our overly complex tax code, giving the agriculture community the ability to produce more efficiently and at a lower cost."Click here to read more
about this measure that has been dropped into the hopper and may come back around to be a part of an overall tax reform package later in 2017.
|Toss a DART to Check the Health of Your Beef Cattle
It is relatively easy to determine when a dependent child is sick as they often just tell you or moan pitifully, but what about livestock who are dependent upon cattle producers to correctly ascertain their well-being? It can be tough to tell a moo from a moan.
"One way to do it is to use the D-A-R-T system, an acronym that literally helps producers to keep in mind likely tell-tale signs of poor animal health," said Barry Whitworth, veterinarian and Oklahoma State University Cooperative Extension food animal quality and health specialist.
Those four indicators include the following symptoms to look for:D stands for DepressionA stands for Appetite (or lack of appetite)R stands for Respiration.T stands for Temperature.Click or tap here
to read more about each of these tell tale signs of well being in your critters.
Through the voluntary contributions of Oklahoma's oil and natural gas industry, the OERB has spent over $100 million restoring more than 15,000 orphaned and abandoned well sites across the state at absolutely no cost to landowners. The OERB has restored sites in 70 of 77 Oklahoma counties, cleaning an average of two to three sites each day.
|Cornbelt Economist Previews Quarterly Stocks Report Due Out This Friday
USDA's release of the Quarterly Grain Stocks report this coming Friday on June 30 will provide an estimate of corn stocks in storage as of June 1, 2017. According to Todd Hubbs with the University of Illinois
, since many of the consumption categories for corn can be derived from data provided during the marketing year, this estimate provides the ability to calculate the magnitude of feed and residual use of corn during the third quarter.
The calculation offers the basis for evaluating the probable feed and residual use during the entire marketing year and imparts information on the potential size of ending stocks. While the information imparted by the June Acreage report released on the same day will likely eclipse the Quarterly Grain Stocks report, the estimated corn stocks have important implications for the current marketing year.
Hubbs looks at the total corn supply and breaks down how the stocks are being used domestically as well those shipments going overseas. Click here for his full analysis
that offers a preview of this Friday's Quarterly Stocks report.
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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.
|OSU Hosting Summer Forage Seminar
Agricultural producers looking to take advantage of the latest information about forage varieties, best management practices and related smartphone technology should RSVP now to attend Oklahoma State University's Summer Forages Field Day on July 18.
The free-of-charge field day will take place at the OSU South Central Research Station, located just east of Chickasha on 1105 E. Iowa St. On-site registration will begin at 8 a.m. with the program kicking off at 8:30 a.m. and finishing after lunch at about 1 p.m.
"If producers are to maximize forage production and livestock gain, it is vital they remain up to date about new forage options and best management practices available for pastures," said Alex Rocateli, OSU Cooperative Extension forage systems specialist. "Profit margins for most operations are tight. Nobody is in a position to waste available resources, including time, energy and effort. The field day can help producers focus in on what may pay off best for them."Click or tap here
to read more about this July 18th event.
|Syngenta Ordered to Pay Kansas Farmers Over $200 Million
A federal jury has ordered Swiss giant Syngenta to pay $217.7 million to Kansas farmers after a verdict was announced this past week at a trial in Kansas City. The class action lawsuit was brought because of the Viptera line of corn seed Syngenta began selling to farmers in 2011. At the time, Sygenta hadn't received Chinese approval of the trait (MIR162) within the seed that gave it insect resistance. China began rejecting U.S. grain shipments in 2013 because it detected the unapproved trait in corn.
China would go on to approve the trait in 2014 but farmers contended the damage had been done because of lower corn prices and lost sales. The plaintiffs contend that the China rejection led to grower losses of more than $5 billion.
The trial featured four Kansas farmers representing more than 7,000 across the state. Syngenta issued a statement saying they were disappointed with the verdict "because it will only serve to deny American farmers access to future technologies, even when they're approved in the U.S." The release said the case is without merit and Syngenta will be moving forward with an appeal.
Class action lawsuits have been approved in several other states, including Arkansas, Missouri, Illinois, Iowa, Nebraska, Ohio, and South Dakota.
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