Oklahoma's Latest Farm
And Ranch News
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Tuesday, February 15, 2022 |
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Here is your daily Oklahoma farm and ranch news update.
- Derrell Peel Ponders- What If We Have More and Worse Drought?
- Cotton Economic Outlook Clouded by Supply Chain Disruptions, High Input Costs
- Jennifer Nealson Leads the Global Marketing Efforts of the Beef Checkoff for NCBA
- Ag Groups Join Cry Against Restrictions on Use of Enlist
- National Farmers Union President Rob Larew on their Fairness for Farmers Campaign
- USGC Meeting Attendees Plan Global Trade Strategy For Coming Year
- Larry and Kayleen Ferguson Inducted into the OSU Alumni Hall of Fame
- Ag Bankers Optimistic For 2022
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Derrell Peel Ponders- What If We Have More and Worse Drought? |
Weekly, Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry. Today, Dr. Peel talks about the worsening drought.
The list of factors that will shape cattle markets in 2022 is lengthy and leads to multiple scenarios for cattle and beef industry outcomes for the coming year. The recently released USDA Cattle report confirms the cattle inventory situation at the beginning of the year and provides some indications of what the cattle industry would like to do in the coming year…or at least what might be possible in the coming year.
Drought will be the principal determinant of the general cattle industry scenario in 2022. The current Climate Prediction Center drought outlook suggests that drought may persist in regions of the west and northern plains that have been in drought (with some improvement in the Pacific Northwest), and where drought has recently developed in southern plains and perhaps expand even further into the central plains region. Drought has impacted some regions since 2020. Widespread drought in 2022 could result in much more pronounced cow herd liquidation and relocation than previously and the scenario will be all about what we have to do.
Drought has expanded sharply in Texas and Oklahoma over the winter; a region that has seen just 1.1 percent herd liquidation since 2020. Much of that was general cyclical liquidation rather than drought induced. December 1 hay stocks in these two states were up 18.7 percent year over year. The southern plains regions should emerge from winter with a bit more flexibility and, with more fall calving, might not face critical herd liquidation and destocking decisions as quickly as some other regions. Nevertheless, cow culling could accelerate sharply in the region by mid-summer.
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The vision of the Oklahoma Beef Council is to be a positive difference for Oklahoma's farming and ranching families and the greater beef community, and its mission is to enhance beef demand by strengthening consumer trust and exceeding consumer expectations.
And Check out this video below that helps you learn more about the Beef Checkoff- .
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Cotton Economic Outlook Clouded by Supply Chain Disruptions, High Input Costs |
National Cotton Council economists point to a few key factors that will shape the U.S. cotton industry’s 2022 economic outlook.
This past year can be characterized as a year with significant uncertainty and volatility in the global economy and the world cotton market. The global economy recovered at a much faster pace than expected as COVID-19 restrictions were relaxed and world economies reopened. Strong world cotton demand has resulted in the highest cotton prices in a decade. However, the lingering effects of the COVID-19 pandemic’s shock to global trade have created an unprecedented level of stress and disruption on the entire supply chain, from transportation costs to labor availability.
Now, in the early weeks of 2022, the supply chain disruptions continue to affect the U.S. and world cotton market and the COVID-19 Omicron variant is creating disruptions in various parts of the world. Current economic projections for the U.S. and global economies should be viewed with caution given the continued impacts of the COVID-19 pandemic, rising energy prices, supply chain disruptions, geopolitical tensions, higher than expected inflation, and slowing economic growth.
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Jennifer Nealson Leads the Global Marketing Efforts of the Beef Checkoff for NCBA |
Jennifer Nealson has been on the job since last summer at the National Cattlemen's Beef Association- and that job is the Senior Vice President of Global Marketing and Research. Oklahoma Farm Report's Ron Hays sat down with her at the recent Cattle Industry Convention 2022 in Houston to talk about the promotion efforts that the NCBA undertakes as a major contractor to the Cattlemen's Beef Board- investing beef checkoff money into the work of encouraging consumers to buy beef.
Nealson says she has been working non stop since joining the organization to learn about all the many programs that make up the domestic marketing of beef to consumers.
Nealson says a lot of dollars are invested into a variety of digital marketing platforms. "We really get most of our traction through the digital media- that includes social media- it includes digital media and even getting sophisticated with things like retargeting our message as people move around the internet on different platforms- we like to follow them and really pique their interest so that they click on the information to go and learn more. It might be a recipe or it's a commercial or it might even be a short story about one of our valued producers and how they do the work that they do."
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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 daily report heard on several of our Radio Stations- It's Called Cotton Talk!
Click on the Button below to listen to our most recent report
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Ag Groups Join Cry Against Restrictions on Use of Enlist |
This morning- we give you another letter sent by several national ag groups with much the same cry.
the American Soybean Association and several other national agriculture groups are imploring EPA to consider new data that may allow for the lifting of inflexible, county-level herbicide prohibitions put in place on new registrations for Enlist and Enlist Duo. While the agency recently issued new seven-year registrations for the herbicides, many growers, despite having used these products historically, operate in counties prohibited from continued use of the product due to new Endangered Species Act (ESA) restrictions.
In the comments, the groups emphasize that, while the grower community at-large appreciates continued access to these important tools, the announcement does little for growers in the 217 counties where ESA restrictions have resulted in challenges due to the county-level prohibitions on these products.
Joining ASA on the letter was the American Farm Bureau Federation, National Cotton Council, and National Corn Growers Association.
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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
Oklahoma AgCredit supports rural Oklahoma with reliable and consistent credit, today and tomorrow. We offer loans for land, livestock, equipment, operating costs and country homes (NMLSR #809962) to farmers, ranchers and rural businesses across 60 counties. As a cooperative, we are owned by the members we serve. Through our Patronage Program, we have returned more than $74 million to our members since 1997.
For more information on our services or to find a location near you, visit our website here.
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National Farmers Union President Rob Larew on their Fairness for Farmers Campaign |
Fairness for Farmers is a nationwide campaign run by National Farmers Union. NFU is demanding stronger enforcement of antitrust laws and breaking up the corporate monopolies that use their size to unfairly take advantage of farmers and ranchers while forcing consumers to pay higher prices at the grocery store.
National Farmers Union President Rob Larew was a Guest Speaker at this Past weekend's AFR/OFU 117th Convention. Oklahoma Farm Report's KC Sheperd caught up with Larew to talk about the campaign and important issues that NFU has been working on.
Larew says With less diversity across the agriculture industry, multinational corporations have too much control over pricing and offerings, "Farmers Union has been trying to highlight a number of issues that are getting attention right now, and we want to see some real reform."
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USGC Meeting Attendees Plan Global Trade Strategy For Coming Year |
Members of the U.S. Grains Council (USGC) are arriving in Greenville, S.C., for the organization’s winter meeting this week, where they will concentrate on drivers of global demand including trade policy, the status of China trade relations and global shipping before heading into business and strategy sessions focused on ways to keep markets open and grain flowing around the world.
“While we will hear from top notch speakers who will orient us to the state of our industry and offer us touchpoints around the world that will help inform our work this week, it’s important that we take that guidance as we enter more than nine hours of Advisory Team meetings to offer recommendations for the Council’s direction to help meet its objectives of developing markets, enabling trade and improving lives,” said USGC Chairman Chad Willis, a farmer from Minnesota.
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Larry and Kayleen Ferguson Inducted into the OSU Alumni Hall of Fame |
The Ferguson name is uttered many times a day when the OSU Ferguson College of Agriculture is brought up.
And it all started in the OSU dairy barn in the 1970s. That's where the couple met.
The Fergusons are ardent supporters of OSU, establishing the Larry and Kay Ferguson Dairy Foods Scholarship in 2000 to provide an annual scholarship in the Department of Animal Science. In 2002, the department recognized Larry with the Graduate of Distinction Award, and the college followed suit in 2016 with its Distinguished Alumni Award.
In 2014, the couple gave $2 million on behalf of the Ferguson Family Foundation and committed up to $4 million in matching support to build a state-of-the-art barn and renovate the OSU Dairy Center, which subsequently was renamed the Ferguson Family Dairy Center.
In January 2020, the Fergusons made one of the largest gifts in OSU's history, donating $25 million to the New Frontiers campaign and $25 million to establish an endowment to support the operations of the newly-named Ferguson College of Agriculture.
The Fergusons are both life members of the OSU Alumni Association. They were inducted into the OSU Hall of Fame on February 11, 2022.
I thought you might enjoy the video from the Hall of Fame ceremony- we have included it below.
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Ag Bankers Optimistic For 2022 |
Farmland values continued to increase rapidly through the end of 2021. Alongside sustained strength in farm income and credit conditions, the value of all types of farmland in the Tenth Federal Reserve Bank District was more than 20 percent higher than a year ago.
Lenders reported a mostly favorable outlook for agriculture in the district but cited the rise in input costs as a risk to the sector. Even with uncertainty around input costs, lenders expect favorable economic conditions to support farm finances and lead to further gains in farmland values in 2022.
The possibility of weaker agricultural income and higher interest rates remain risks for farmland markets. Despite the risks, the agricultural sector appears to be well-positioned for the year ahead, supported by strong balance sheets, high commodity prices and sharp gains in farmland values.
The Tenth District includes parts of Missouri and New Mexico, and all of Colorado, Kansas, Nebraska, Oklahoma and Wyoming.
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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 were mixed- Choice Beef was down by 56 cents while Select Beef was up 92 cents on Monday, 2/14/22.
Click on the Button below for the latest report from USDA Market News
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Oklahoma National Stockyards had 13,500 head on Monday, February 14, 2022
Compared to last week's light test: Feeder steers and heifers mostly steady to 2.00 lower. Decline on heavier weights. Stocker cattle and calves 2.00-6.00 higher. Again demand very good, especially for those in conditions suitable to return to grass. Several light to mid-weight thin fleshed cattle available.. Good chance of rain in the forecast for midweek but some of the frozen stuff could be included. Note: No sale last year was due to winter storm.
Click below for the complete closing report.
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The Joplin Regional Stockyards had a total run of 7,911 head for Monday, February 14th.
Compared to last week feeder steers under 550 lbs. traded 5.00-12.00 higher; with three weight steers trading 20.00 higher. Steers over 550 lbs. traded steady to 3.00 higher. Feeder heifers traded 2.00-5.00 higher. Supply was moderate to heavy with good demand.
Click on the button below for details of the trade as compiled by the USDA Market News Service.
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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/Ranch Broadcaster and Editor
KC Sheperd, Farm Director and Editor
Dave Lanning, Markets and Production
Pam Arterburn, Calendar and Template Manager
Chelsea Stanfield, Farm News and Email Editor
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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, 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
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
OklahomaFarmReport.Com
405.473.6144
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