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Let's Check the Markets!
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.
FedCattleExchange.com has a total of 1,444 cattle on their showlist for the Wednesday, October 11th
sale of finished cattle - details will be available after noon today by clicking here.
Stocker calves traded 4.00 to 8.00 higher compared to last week at OKC West Tuesday, - click or tap here for a look at the October
10th sale results.
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
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Wednesday, October 11, 2017
Latest Crop Report Shows Good Progress in Fall Harvests with Minor Improvements to Crop Condition
In the latest crop progress report released Monday, October 10, 2017, the United States Department of Agriculture rated the US corn crop condition slightly better from a week ago, at 64 percent good to excellent, 25 percent fair and 11 percent poor to very poor. Corn maturity nationwide jumped from 68 to 82 percent this week, still behind the five-year of 87 percent. Corn is 22 percent harvested across the nation, behind the average of 37 percent. The US soybean condition has improved just barely from last week, rated at 61 percent good to excellent, 27 percent fair and 12 percent poor to very poor. Soybeans are up to 36 percent harvest nationally, lagging behind the average of 43 percent. For the complete USDA Crop Progress report, click here
Once again this week- we have posted on Spreaker and Twitter an audio review of the Crop Progress numbers- Click or tap here
to hear our look at these latest Crop Progress numbers.
According to the weekly crop progress report from USDA, Oklahoma
winter wheat planted reached 42 percent, down 20 points from normal. Winter wheat emerged reached 15 percent, down 13 points from the previous year and down 15 points from normal. Canola planted reached 55 percent, down 17 points from normal. Corn mature reached 94 percent, down 3 points from normal. Corn harvested reached 53 percent, down 20 points from normal. Sorghum mature reached 76 percent, down 2 points from normal. Sorghum harvested reached 36 percent, down 10 points from normal. Cotton bolls opening reached 71 percent, down 10 points from normal. Cotton harvested reached 3 percent, unchanged from the previous year and unchanged from normal. Conditions of pasture and range were rated at 86 percent good to fair. To view the complete Oklahoma Crop Progress and Condition Report, click here
, winter wheat planted was 27 percent, well behind 55 last year and 59 for the five-year average. Emerged was 15 percent, behind 27 last year and 29 average. Corn condition rated 4 percent very poor, 11 poor, 29 fair, 43 good, and 13 excellent. Corn mature was 88 percent, behind 95 last year and 94 average. Harvested was 46 percent, behind 60 last year and 61 average. Sorghum condition rated 2 percent very poor, 7 poor, 33 fair, 47 good, and 11 excellent. Mature was 60 percent, behind 77 last year, and near 64 average. Harvested was 9 percent, behind 28 last year and 22 average. To view the complete Kansas Crop Progress and Condition Report,click here
, winter wheat planted is rated this week at 54 percent complete, compared to 46 last year and 52 the average. Winter wheat emerged has reached 30 percent, ahead of last year by 1 and the average by 3. Currently, 91 percent of the state's corn crop is mature, ahead of last year by 2 and the average by 3. Corn harvested is up 1 point this week from last at 76 percent, ahead of the average by 3. Cotton harvested is at 27 percent, ahead of the average by 8. Cotton's condition is rated 56 good to excellent, 27 fair, 17 poor to very poor. Sorghum in the state has reached 82 percent mature, behind last year by 3 and behind the five-year average by just 2. Meanwhile 74 percent of the state's sorghum crop has been harvested, ahead of the average by 4. To view the complete Texas Crop Progress and Condition Report, click here
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|Don Close of Rabo AgriFinance Impressed with Cattle Industry's Surprisingly Strong 2017 Performance
During the Texas Cattle Feeders Association Convention this week in Amarillo, I had the chance to catch up with Don Close
of Rabo AgriFinance and get his thoughts regarding the performance of the cattle markets thus far in 2017, and what the next year might look like as well.
"I think producers have done a phenomenal job this year," Close said. "Certainly, through the first half of the year, we had a combination of circumstances, but producers got a really solid lead on the market."
Close attributes much of the success seen this year to an aggressive marketing schedule and an overall reduction in tonnage. He says the industry's ability to stay current has been key during 2017 and insists that attention must be focused on keeping average weights of cattle under control for the rest of the year and into 2018, to sustain the current momentum. Close says producers have plenty of motivation to do this, with a board structure that is strongly encouraging them to roll cattle forward while packer margins range from $100 to $150 a head.
"They have really big motivations to aggressively process cattle as hard as they can go," Close said. "It's really similar to where we were at in the spring market. So, that should be an underlying supportive influence in the market."
Listen in as Close and I discuss the surprising performance of the cattle markets during 2017, on yesterday's Beef Buzz - click here.
A growing amount of fresh produce is being left to rot in the fields where it lay, simply because, to farmers' chagrin, there is no one there to pick it. This problem is being witnessed nationwide and has been for some time. Many farmers would say a solution to finding a way to keep an adequate and stable workforce by the government is long overdue.
The American Farm Bureau has heard its members and has launched a new video, featuring Washington state farmers Burr and Rosella Mosby who explain how the farm workforce is dwindling.
According to their appearance on the video, even with higher wages, it's hard to find enough workers when harvest rolls around. The Mosbys have experienced this first hand, most recently being forced to abandon a field of zucchini squash on their farm just south of Seattle.
In search of another way, looking for options, the Mosby's suggest a Farm Bureau backed idea, to offer a new guest worker visa. She says there are workers available and ready to pick, but producers' hands are tied by existing immigration laws. With a new visa program, producers could have the flexibility they need to fill jobs and complete the work.
The Mosbys estimate that their workforce shortage this year will cost them $100,000 in lost profits and productivity.
To read more about the Mosby's or to watch the aforementioned video produced by Farm Bureau, click or tap here.
At the Texas Cattle Feeders Association Convention this week in Amarillo, Ihad the chance to speak with guest speaker, Jason Dorsey of the Center for Generational Kinetics. Dorsey and I spoke on the generational differences in buying and decision-making habits among consumers in the marketplace, currently. He told me there are quite a lot of myths surrounding the younger generations and insists these demographics are incredibly important to the economic success of the beef industry, the ag-sector as a whole - really every industry.
"The truth is, not only are Millennials the largest generation in the workforce, they'll actually outspend every other generation, this year," Dorsey said. "That's really important for anyone in this industry."
Dorsey says the entire generation is actually approaching the time when they are all beginning to accept the responsibilities of adulthood - buying homes, getting married and having kids. This is significant, because now, he says, is the time to begin connecting with them as consumers and conditioning them with a positive message about our products - beef for instance - as they start to develop the core values on which they choose to raise their families.
Gen Z, an even younger generation, is coming of age right now, too. As these two demographics settle into adulthood and begin to figure out how to provide for themselves, Dorsey says it is incumbent on the ag industry to be there to explain its own self, by the producers who actually work in the field every day.
Up until now, Dorsey explains how minority interest groups under self-proclaimed labels like "organic," "natural," "non-GMO," etc., have taken it upon themselves to tell consumers their version of the ag's story, while the industry has remained fairly quiet - never quite comfortable with reaching out to the consumer base in the way it's needed today. Being the only thing they are hearing, Dorsey says Millennials have taken the messages from outside groups to heart. He argues, that those in the industry can only combat this, by communicating their own message directly to the consumer. When it comes to telling ag's story, Dorsey asks, who better to tell it then the producers?
"Millennials want to know where their food comes from," he said. "I think the main message is not to give up on Millennials and not to treat them like everyone else. If you're willing to adapt - they will be willing and open minded as buyers."
Dorsey says it is up to the producers themselves to connect with consumers via social and digital media - whenever possible, to share the positive messages about agriculture. He says the industry will see significant returns from this sort of effort.
Click here to read the complete story or listen in on mine and Dorsey's full conversation.
The Oklahoma Cattlemen's Association is the trusted voice of the Oklahoma Cattle Industry. With headquarters in Oklahoma City, the OCA has a regular presence at the State Capitol to protect and defend the interests of cattlemen and cattlewomen.
Their Vision Statement explains the highest priority of the organization- "Leadership that serves, strengthens and advocates for the Oklahoma cattle industry."
To learn more about the OCA and how you can be a part of this forward-looking group of cattle producers, click here for their website
. For more information- call 405-235-4391.
According to a new article published by OSU this week, dogs - although they make great companions - are much more than that to producers on the farm. The way J.C. Hobbs, Oklahoma State University Cooperative Extension tax education and farm management specialist, sees it - dogs can be working members of an agricultural enterprise, and as such may qualify for certain operation-related tax deductions. Hobbs explains there is in fact an applicable tax statute on the books. The challenge, he says though, becomes proving the dog is used for business purposes and at what use-percentage.
If the dog's business use is more than 50 percent, the animal qualifies for the Code Section 179 deduction, which allows his or her business use of the purchase price to be deducted in the year the animal was bought and placed in service. If the dog's work use is less than 50 percent, the CS-179 rules do not apply and the animal can only be depreciated using the relatable 7-year property statute.
Provided a dog's qualifications are met, an owner can deduct food, veterinary costs and other supplies related to ownership of the dog. All you need is a receipt to prove your expense.
Working horses likewise qualify for certain deductions. Hobbs says horses qualify for Code Section 179 deductions same as dogs do. However, only the portion of the purchase cost of the horse that is business related is deductible using the CS-179 or depreciation rules.
For additional information about tax deductions for farm animals, you can click over to our website to read the full story. For further reading on tax law as it relates to farm animals, consult the Farmer's Tax Guide, Publication 225, available through the Internal Revenue Service website.
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Growth Energy released a statement yesterday,proudly announcing to ethanol consumers and investors, that more than 1,000 fuel stations throughout the U.S. are now offering E15 fuels.
That more than doubles the number of stations that offer the biofuel since this time last year.
Growth Energy CEO Emily Skor calls the increased availability of the 15 percent ethanol blend "a testament to the value E15 brings to fuel retailers and consumers," in the statement released yesterday. The statement continued to say that E15 is a clean and cool burning fuel that works well in cars that are model year 2001 and newer.
E15 fuels typically can save motorists up to 10 cents per gallon at the pump.
Leading retailers carrying the biofuel include familiar companies such as Casey's, Cenex, Family Express, Kum & Go, and Kwik Trip, among others.
In total, there are 1,039 locations across the U.S. offering E15 fuels. The organization says many of those are in major metropolitan areas - closest to us, being places such as Dallas, Houston and San Antonio.
Click here to read the complete announcement released by Growth Energy yesterday, on the ethanol industry milestone.
Cull cows represent approximately 20 percent of the gross income of any commercial cow operation, according to Glenn Selk's latest article in the Cow/Calf Corner newsletter published this week. Cull beef cows, he writes, represent 10 percent of the beef that is consumed in the United States. And while, over the last two decades, the beef industry has made significant improvements in proper cow culling, Selk insists ranchers in Oklahoma need to make certain that culling continues to be done properly and profitably.
Obviously, ranchers with cattle to cull want to do so when the cattle will have the most return potential. Knowing when to do this, though, Selk says requires skill and knowledge about cow health and body condition. If cull cattle are not recognized by the producer - they run the risk of that cow's carcass being condemned at the packing plant and becoming a money drain for the entire beef industry.
Once you've decided to cull, ask yourself some questions. Will she keep enough body condition through the winter to rebreed next year? How old is the cow? Is her mouth sound so that she can harvest forage and be nutritionally strong enough to reproduce and raise a big calf? At what age do cows usually start to become less productive?
Based on records kept by a large cattle operation of Florida in the 1980's to show how productivity changes over the life of the beef cows, Selk says, cows can be consistent in the rebreeding performance through about 8 years of age.
"A small decline was noted as cows aged from 8 to 10 years of age. However, the most consistent decline in reproductive performance was noted after cows were 10 years of age. A steeper decline in reproductive performance was found as they became 12 years of age," he writes. "In other words, start to watch for reasons to cull a cow at about age 8. By the time she is 10, look at her very closely and consider culling; as she reaches her 12th year, plan to cull her before she gets health problems or in very poor body condition."
For the full scope of Selk's advice, in this week's edition of the Cow/Calf Corner newsletter, click or tap here.
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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