Oklahoma's Latest Farm
And Ranch News
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Your Update from Ron Hays of RON
Wednesday, April 21, 2021
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Here is your daily Oklahoma farm and ranch news update.
- NCBA and AFBF Backed Study Proves Stepped-Up Basis Repeal Would Be Detrimental to Farms and Ranches
- Oklahoma National Stockyards Continues to Play a Significant Role For The Cattle Industry
- Leading Oklahoma FFA During a Pandemic Has Taught Tanner Taylor The Reality of Leadership
- IHOP releases Bacon Obsession Menu with steakhouse premium bacon, Maple Bacon Milkshake and more
- Bipartisan Growing Climate Solutions Act Makes it Easier for Farmers, Ranchers and Forest Owners to Benefit from Voluntary Carbon Markets
- House Ag Committee Leadership Agree on the Need for Better Rural Broadband
- Introducing Caitlyn Mack of the Drummond FFA Chapter, Your 2021 Northwest Area Star in Ag Production
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NCBA Backed Study Proves Stepped-Up Basis Repeal Would Be Detrimental to Farms and Ranches
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Today, the Family Business Estate Tax Coalition (FBETC) released an EY study quantifying the impact a repeal of stepped-up basis would have on family businesses. Both the National Cattlemen’s Beef Association (NCBA) and the American Farm Bureau have long advocated for the preservation of this long-standing provision of the U.S. tax code, as well as other sound tax policies for rural America, and has been an active supporter of this study.
“The EY study sheds light on the facts that we at NCBA-among others in the agricultural community-have long known. Simply put, the repeal of stepped-up basis would have catastrophic impacts on the ability of farmers and ranchers to transfer their operations to the next generation,” said NCBA Senior Executive Director of Government Affairs Danielle Beck.
“Farmers and ranchers have been able to pass their farms on to the next generation thanks to the stepped-up basis tax provision,” said American Farm Bureau Federation President Zippy Duvall. “The value of many farms is tied up in land and equipment and most farmers don’t have large amounts of money on-hand to pay capital gains taxes. They could be forced to sell the farm or take out costly loans just to pay capital gains taxes. Eliminating the stepped-up basis isn’t a tax on the rich - it’s a tax on the middle class. We urge President Biden to remain true to his word that he won’t increase taxes on hardworking, middle-class Americans.”
The EY study found that family-owned businesses and the local economies they support would be hit hardest by a repeal. To reveal the impact stepped-up basis repeal would have on family-owned farms and ranches, EY developed a case-study based on a theoretical family-owned cow-calf operation. In this scenario-one where the stepped-up basis is no longer a tool for family-owned business to utilize when generational transfer occurs - gains are taxed at death and would result in an immediate one-time tax liability equivalent to 280 percent of the farm’s annual income.
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It's the second of two nights of below freezing temperatures across Oklahoma- and crops, fruit and nut trees and more are suffering through a late season cold assault that could result in millions of dollars of damage. The Mesonet graphic above is the map that shows the minimum temp for each station since midnight- and we have linked to the ongoing updated map for current temps(most temps are now above the minimums).
OSU Wheat Specialist Dr. Amanda Silva says "There is a potential for freeze injury to Oklahoma wheat. The extent of that will depend on several factors, including the growth stage of the plants, how low the temperature will get, and how long it stays at those cold temperatures."
In some cases, temperatures as warm as 30 degrees for at least a couple of hours can be harmful- and even more so- at 28 degrees- and this morning- we are seeing temps that may trigger significant yield loss to a crop that to this point- has been rated largely good to excellent.
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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 2021 Oklahoma City Farm Show.
The Tulsa Farm Show is Oklahoma’s premier agricultural and ranching event which returns to the River Spirit Expo (Expo Square) December, 9-10-11, 2021.
Now is the ideal time to contact the Midwest Farm Show Office at 507-437-7969 and book space at the 2021 Tulsa Farm Show. To learn more about the Tulsa Farm Show, click here.
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Oklahoma National Stockyards Continues to Play a Significant Role For The Cattle Industry
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As the world’s largest cattle stocker and feeder market the Oklahoma National Stockyards holds a significant place in the agriculture and business arena. That significance was highlighted during the pandemic when our nation’s food supply was brought to its knees.
On today’s Beef Buzz, I continue his conversation with Kelli Payne, president of the Oklahoma National Stockyards.
It was a huge surprise for everyone as none of us had been through a situation like that before, Payne said.
We wanted our employees, shippers, and buyers to be safe, she said.
Our partnerships with other associations was really important, she said, crediting the Livestock Marketing Association, Gov. Stitt and Ag Sec. Blayne Arthur for their support.
With the food supply chain in chaos, the CDC declared companies such as the Oklahoma National Stockyards as essential and therefore protocols had to be established and followed.
Thankfully we got through it, Payne said.
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Leading Oklahoma FFA During a Pandemic Has Taught Tanner Taylor The Reality of Leadership
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Leading the state’s largest ag youth organization during a pandemic has taught Tanner Taylor the reality of leadership.
The former Adair FFA student was elected Oklahoma FFA President last spring as the country was in the middle of a pandemic lockdown.
I was in the pasture feeding cows when I got a call from Drew Hardaway that our convention was cancelled, Taylor said, and I knew when I saw his name pop up it was over.
We really worked to figure out how our team could conduct a virtual convention, Taylor said.
We had a special job to do and that is connect with FFA members, he said.
One of the challenges last year was running for state office virtually.
There is something different about giving a speech to a camera instead of full room, Taylor said.
I was overwhelmed with gratitude that we were able to do something and do it well, he said.
Because it was virtual, Taylor was able to participate from his family home.
There was probably 12 to 15 of us in my living room watching something that really meant a lot to us, he said. It was close and intimate with the people who meant the most to me, Taylor added
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For our farmers who have either- always have had cotton on their farms- or those who have more recently have added the fiber crop to their operations- we have a new daily report starting to be heard on several of our Radio Stations- It's Called Cotton Talk- and we appreciate the Oklahoma Cotton Council for their support in making this a reality.
Click on the Button below to listen to our most recent report
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IHOP releases Bacon Obsession Menu with steakhouse premium bacon, Maple Bacon Milkshake and more
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More than 50% of IHOP® customers order bacon and the chain is capitalizing on the love for the popular breakfast meat with their Bacon Obsession Menu. The limited-time menu includes steakhouse premium bacon, Steakhouse Premium Bacon Burger, Candied Bacon Pancakes and a Maple Bacon Milkshake. National Pork Board provided research and menu ideation to help IHOP bring more consumers in for lunch and dinner.
Bacon lovers, take note. IHOP has a new way to meet your cravings, and it's more than a side of new, thicker bacon.
IHOP introduces a new “Bacon Obsession” menu Tuesday with a steakhouse premium bacon with a maple glaze and limited menu items like Steakhouse Premium Bacon Burger, Candied Bacon Pancakes and a Maple Bacon Milkshake, the company shared exclusively with USA TODAY.
Bacon already is one of chain’s most popular breakfast proteins and more than 50% of customers have bacon with their orders, IHOP President Jay Johns said in an interview, noting the new bacon is five times thicker than the company's regular bacon.
"People love bacon and I think they're going to love this bigger, thicker, more juicy crunchy bacon even more," Johns said.
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We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-
if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
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Sponsor Spotlight
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Ag Leaders Celebrate Introduction of Growing Climate Solutions Act
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“When governments invest in farmers, our communities and environment thrive. State department of agriculture leaders understand the central role agriculture serves in building climate resiliency and preserving our shared natural resources. NASDA is proud to support the Growing Climate Solutions Act, as it acknowledges and invests producers’ contribution to environmental sustainability and unites the industry around climate goals,” NASDA CEO Dr. Barb Glenn said.
“AFBF welcomes the introduction of the Growing Climate Solutions Act, which builds on the strong foundation of environmental stewardship in American agriculture by providing more clarity and guidance for farmers and ranchers as they explore or expand participation in carbon markets.
“We commend Chairwoman Stabenow and Senator Braun for continuing their bipartisan leadership on the Growing Climate Solutions Act, which would encourage greater farmer participation in environmental markets,” said Jim Mulhern, president and CEO of the National Milk Producers Federation. “This legislation will enhance the proactive, sustainable initiatives dairy farmers are expanding as our sector strives to achieve carbon neutrality.”
NCFC says, “I would especially like to recognize the work done by Agriculture Committee Ranking Member John Boozman (R-Ark.) who in collaboration with Sens. Stabenow and Braun added provisions to the bill providing greater farmer representation on the U.S. Department of Agriculture advisory panel on carbon markets that the legislation would establish.
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House Ag Committee Leadership Agree on the Need for Better Rural Broadband
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House Agriculture Committee Chairman David Scott delivered the following statement at today's Full Committee hearing titled "Rural Broadband - Examining Internet Connectivity Needs and Opportunities in Rural America":
Good Morning, we are here today to discuss the critical issue of Rural Broadband and to hear from our witnesses about their experiences constructing and maintaining broadband networks in Rural America. As always, I’d like to thank my Ranking Member for his bipartisan cooperation and willingness to work with me on this issue. I think we have a fantastic opportunity to seize this moment and take meaningful action to close the digital divide.
Rural broadband is critical for the growth and development of our rural communities. It’s essential we act to finally close the digital divide that has kept so many of our rural communities from reaching their full potential. As we have seen laid bare throughout this pandemic, we cannot delay in our efforts.
Speaking of the ranking member of the Committee- Republican GT Thompson from Pennsylvania said in his opening comments "For years, the digital divide has left many Americans unable to access reliable, high-speed internet service resulting in lost opportunities to expand businesses, learn new skills, or even participate in daily activities.
I see this cost and frustration every day. I am fortunate to live in the service territory of a rural electric cooperative which offers quality Internet service to my home. But, just a few miles away, my neighbors are on the wrong side of the digital divide."
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Introducing Caitlyn Mack of the Drummond FFA Chapter, Your 2021 Northwest Area Star in Ag Production
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During the month of April, the Radio Oklahoma Ag Network and Oklahoma Farm Report is spotlighting the twenty Area Stars of Oklahoma FFA that are among the highest achievers in the organization.
The stars come from the five areas in four categories- Star in Ag Placement, Star in Agriscience, Star in Agribusiness and Star in Production Agriculture.
This week, we spotlight the five area stars in Ag Production for 2021.
One Star Finalist featured in the coming days from each of the categories, will be named the State Star Award Winner during the 95th Oklahoma State FFA Convention coming up April 27, and 28th in Oklahoma City.
This week, our coverage of the 2021 Oklahoma FFA Star Award Finalists continues with Ag Production competitor Caitlyn Mack of the Drummond FFA chapter representing the Northwest Area.
Mack’s project is managing 220 acres of her own farmland as well as working on her family farm and ranch near Drummond.
Farming and ranching with her family is a passion for Caitlyn Mack,
I wanted to really show that I truly care about production ag and feeding the world, Mack said.
All of the challenges Mother Nature gives you also shows you how to work and come up with solutions, Mack said.
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OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
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Today's First Look:
Ron on RON Markets as heard on K101
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
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Wholesale Boxed Beef Prices continue to go higher- Choice Beef was up $2.09 and Select Beef was up $1.34 on Tuesday, April 20th.
Click on the Button below for the latest report from USDA Market News
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Oklahoma National Stockyards had a final number 7,52 on Monday April 19th- with prices under pressure.
Compared to last week: Feeder steers and heifers 5.00-8.00 lower. Steer and heifer calves 2.00-5.00 lower. Demand moderate.
Click below for the complete closing report.
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Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures - click below for the latest update on the Livestock and Grain Futures Trade..
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Okla Cash Grain:
Daily Oklahoma Cash Grain Prices- as reported by the Oklahoma Dept. of Agriculture- The report available after the close of the Futures Trade for that day.
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Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
KC Sheperd, Associate Farm Director and Editor
Dave Lanning, Markets and Production
Sam Knipp, Farm News Editor
Pam Arterburn, Calendar and Template Manager
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Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is the main reason Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity will dive into these stories each week, bringing you insight into the great things happening in and to rural Oklahoma. We will bring you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America.
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
Host KC Sheperd sat down with Dr. Brett Carver, Regents Professor
Wheat Genetics Chair in Agriculture, Wheat Breeding and Genetics in his office on the Oklahoma State University campus in Stillwater and talked about a variety of subjects- all relating back to his passion for breeding wheat. He offered his take on how the 2021 wheat crop has handled the historic freeze the southern plains dealt with in February of this year, reviewed the wheat varieties that have come out of his program and looked ahead to what might be coming next.
To find out more about our full series of Podcasts on The Road to Rural Prosperity- click or tap here.
To hear this podcast, you can click here or tap below:
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Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Farm Bureau, Oklahoma Ag Mediation Program, Great Plains Kubota, Stillwater Milling Company, Oklahoma Cotton Council, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Union Mutual Insurance, the Oklahoma Cattlemens Association, 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!
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
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God Bless!
Reach Out To Us:
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Tim West
President/General Manager
Radio Oklahoma Ag Network
2401 Exchange Avenue,
Suite F
Oklahoma City, OK 73108
405.317.6361
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Ron Hays
Director of Farm Programming
Radio Oklahoma Ag Network
405.473.6144
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