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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 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, July 21, 2017
Cotton producers who have been reeling from the effects of having no safety net under the Farm Bill as it exists today, are finally finding some relief. Yesterday, the Senate Appropriations Committee approved a bill allocating $145.4 billion in discretionary and mandatory funding, $4.85 billion above the President's budget request and $7.9 billion below the FY2017 enacted level, to fund agricultural and ag related programs.
The bill contained other directives aside from just funding. It also includes a provision addresses the ongoing economic challenges facing U.S. cotton producers, and the entire U.S. industry, by designating cotton as an "other oilseed" under Title I of the 2014 Farm Bill. This will allow cotton producers to participate in the Price Loss Coverage program just like all other major U.S. commodity producers.
The bill also includes language addressing several other aspects of the agricultural world including rural development, food safety and nutritional programs to name a few.
"Our farmers and ranchers do a tremendous job in spite of challenges from low commodity prices to natural disasters," said U.S Senator John Hoeven , chairman of the Agriculture Appropriations Subcommittee. "We worked hard to put together a strong agriculture funding bill to support their efforts. This legislation maintains a robust safety net and rejects cuts to crop insurance and commodity programs, while also making strong investments in farm service programs, ag research and rural development to support our producers and rural communities."
You can read more about all the highlights of this bill, in the original story up on our website, by clicking here
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In a statement yesterday responding to the Senate Appropriations Committee's inclusion of cottonseed as an other oilseed, National Cotton Council Chairman Ronnie Lee, thanked Chairman Cochran on behalf of The National Cotton Council.
"The NCC thanks Chairman Cochran for his strong leadership on this issue to help ensure a cottonseed policy can be included as part of the final agriculture appropriations measure considered by Congress later this year," Lee stated. "The cottonseed policy, if enacted, would apply beginning with the 2018 cotton crop, the last year of the current farm bill, and would help address the significant economic challenges currently facing America's cotton farming families."
This action comes at a time when cotton farmers are desperate for help in reducing the financial stress currently weighing on the cotton industry with no safety net program of its own.
Congressional leaders have requested that measures be taken to float the cotton industry until the next Farm Bill can be signed into law. Cotton industry leaders hope the measure taken by the Senate Appropriations Committee will be coupled with help from the President's administration, which could authorize the Cotton Ginning Cost Share program for the 2016 and 2017 crop years.
Cotton farmers are counting on both of these policy initiatives to deal with the ongoing financial burden and bridge the policy gap for cotton until the new farm bill can be implemented.
My guest this week for our weekly 'In the Field' segment on KWTV News 9 on Saturday mornings, is Mark Hodges of Plains Grains. He stopped by our studios yesterday to reflect on this year's wheat harvest and update us on what's being seen beyond our state's borders as harvest has continued Northward.
Mark tells us that this year's crop has been a challenging one, though very similar in many ways to last year's crop.
"In a lot of respects from a quality standpoint, it's kind of a mirror image of last year," he said. "From a production standpoint, obviously, we had pretty good production on acres that weren't abandoned - but, we had a lot of acres of abandonment, which we don't completely have our arms wrapped around yet."
From a quality perspective, Hodges says this year's wheat crop shares the same exceptional kernel characteristics as wheat from last year as well. He insists the miller will like what he sees.
Also like the previous crop - this one lacks the desired protein levels being highly sought after in the marketplace.
While the Southern Plains overall produced a fair crop, Hodges says Kansas really pulled one out of the hat. While their harvest did not turn out as good as they might have hoped, it still came out much better than anyone had hoped - considering the late freezes, the unexpected snow and wheat streak mosaic virus among other stress events.
Hodges reports in the latest harvest update from Plains Grains that ""The 2017 HRW wheat harvest continues to move forward at a very rapid pace with Colorado (85% complete) and Nebraska (89% complete) starting to wind down and South Dakota well over half done. Much of South Dakota's crop, especially in the western part of the state, ended up being baled for animal feed. In contrast, the Pacific Northwest is just now getting into the swing of harvest with expectations of higher yields from Washington, Oregon and Idaho." Click here for the complete harvest update
released last night by Plains Grains.
You can listen to all of Hodges insights into this year's wheat harvest in Oklahoma and beyond, by clicking or tapping here
to hear our full off-camera conversation right now - or be sure to catch our visit this Saturday morning on KWTV News 9 at 6:40 a.m.
When the Obama-era US Department of Agriculture began the process to move forward on implementing the GIPSA rules, populist organizations like R-CALF USA and the National Farmers Union were very happy about the prospect of seeing the rules put in place. Their hopes were dashed, though, once the Trump administration's Secretary of Agriculture, Sonny Perdue
, took office. One of his first acts of business was to extend the comment period on the rules - a move that Colin Woodall
of the National Cattlemen's Beef Association says was a stalling tactic that has hopefully signaled an end to the controversial GIPSA rules.
Woodall told me in a recent interview that he thinks NCBA, "has made a very good case to (Secretary Perdue) that the GIPSA rule went well beyond what the intent of Congress was in the language that was passed in the 2008 Farm Bill."
He explains that if passed, the rule would have a significant impact on the beef industry's alternative marketing arrangements. But, he assures that the Secretary seems to understand this. NCBA is joined by the National Chicken Council and the National Pork Producers Council in wanting to kill the rule, but Farm Bureau is riding the fence. They agree that NCBA is right in their argument regarding the rule, but also insist some issues must be addressed relating to the marketing situation among members of the poultry industry. Beyond GIPSA, though, Woodall says NCBA will continue to be watchful of populist activities, particularly when it comes to the notion of resurrecting Country of Origin Labeling.
"There are groups out there that want to utilize the NAFTA renegotiation as an opportunity to bring this back into play," Woodall said. "The President's staff continues to tell us that they understand this was a failed policy and that they have no intention of bringing back."Interested in learning more?
Listen to Woodall and I talk more in depth about the NCBA's efforts to block moves by populist organizations that could be potentially harmful to the American beef industry, on yesterday's Beef Buzz - click here
. Or, see Colin speak in person, today, at the Oklahoma Cattlemen's Association Convention in Norman. Colin will appear this morning at 10:00 as the general session keynote speaker.
See the OCA Convention agenda, here
Midwest Farm Shows is proud to produce the two best Farm Shows in the State of Oklahoma annually- the Tulsa Farm Show each December and the Oklahoma City Farm Show each April.
They would like to thank all of you who participated in their 2017 Oklahoma City Farm Show.
Up next will be the Tulsa Farm Show in December 2017- the dates are December 7th, 8th and 9th. Now is the ideal time to contact Ron Bormaster at 507-437-7969 and book space at the 2017 Tulsa Farm Show. To learn more about the Tulsa Farm Show, click here.
|Grain Industry Groups Welcome Nomination of Ted McKinney as First Ever Trade Undersecretary at USDA
The corn and wheat industries led the ag community in cheers yesterday after Indiana's State Department of Agriculture Director Ted McKinney, was tapped by the White House to serve as the nation's first ever Undersecretary of Trade and Foreign Agriculture Affairs at the US Department of Agriculture.
Upon hearing of the appointment, McKinney was quoted saying how humbled and honored he was to receive the appointment and thanked those in the agriculture community for the outpouring of support, including special thanks to his new future boss, Ag Secretary Sonny Perdue.
"Mr. McKinney is an excellent choice to fill this new role. He has a longstanding record of service to the agriculture industry, and will be a strong advocate for U.S. agriculture on the global stage. We urge the Senate to move quickly to confirm him, so that our industry is in the best position to capitalize on increased global demand for our products," read a statement
from the National Corn Growers Association.
It's expected that McKinney, who comes to the job with extensive experience from previous work with companies like Dow Agrosciences and Elanco, will have a speedy confirmation process and will hopefully be in place at the USDA before the August recess.
"McKinney's leadership experience as Indiana's Agriculture Director and longstanding background in trade make him an ideal candidate for this position," said David Schemm, president of the National Association of Wheat Growers (NAWG) and a wheat farmer from Sharon Springs, Kansas. "The U.S. wheat industry applauds the Administration's choice and calls for a quick confirmation hearing in the Senate."
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|Grain Market Economist Dr. Kim Anderson Says the Markets are Like a Pendulum, Expect Corrections
OSU Extension Grain Market Economist Dr. Kim Anderson
joins the SUNUP team, again this week, talking wheat prices.
Recently, the Funds have had a pessimistic outlook on the wheat market. However, there seems to have been a shift to a more optimistic position by the funds. First, Funds were short around 650 million bushels over the last few months, and now after having bought .3 billion bushels, they are long 650 million bushels.
The "cautiously optimistic" move, says Anderson, prompted prices to respond. He reports that cash prices began in Oklahoma at approximately $3.75, peaked on July 11th at $4.80, and have since backed off by $0.50 to now $4.25-$4.30.
"Price is like a pendulum," he said. "If they go up, they normally go up a little too high then they have to back off. If they go down too far, they have to back off. So, we saw that pendulum swing."
Negative market factors, such as the size of the foreign crops and the lack of protein-rich wheat, kept the pendulum from swinging any higher, unfortunately for farmers. Anderson advises growers to start thinking now, about how they can produce quality wheat with high protein, this next season.
"If you give them protein," he remarked, "prices will go up."
You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now by clicking here
|Latest Drought Monitor Report Shows Slight Increase in Drought Ratings this Month Across Oklahoma
Oklahomans are preparing to deal with even more dry weather as Gary McManus
, Oklahoma state climatologist, is predicting drought conditions will intensify over the course of the next three months or so.
And although there are some slim chances for moisture to appear in Oklahoma throughout the next several weeks, McManus says whatever little we do get, if any, will most likely not be enough to quench our thirst, let alone that of the plants after they absorb whatever hydration isn't evaporated by temps in the 100s...
While October will probably be sporting some higher than normal temperatures this year though, McManus says our chances for precipitation will start to rise as we head into the fall.
You can take a look at this week's Drought Monitor, here
, to get an idea at what McManus is working with.
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