Oklahoma's Latest Farm
And Ranch News
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Here is your daily Oklahoma farm and ranch news update.
- Wheat Trade Team from Ecuador and Peru Tour Oklahoma Wheat Country
- Candidate Todd Russ says the Right Kind of Experience is Critical for State Treasurer's Office
- Slight Increase in Producer Sentiment despite Rising costs and Lower Crop Prices
- Cotton County 4-H'er Takes Top Honor at State 4-H Roundup
- Tyler Cozzins says Inflation Environment May Be a Headwind for Beef Demand in the Future
- Zoetis Receives Expanded Labels for Beef Implant Products
- Redlands Community College Brings Students Cutting-Edge Agriculture Technology Experience
- Oil & Gas Revenue Skyrockets in July
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Wheat Trade Team from Ecuador and Peru Tour Oklahoma Wheat Country
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Members of a wheat industry trade team from Ecuador and Peru were in Oklahoma on Wednesday- touring wheat industry handling and processing facilities in north central Oklahoma. Oklahoma was one of three states that the millers and bakers from South America spent time with during their five day trip to the United States.
The Oklahoma Wheat Commission and the Oklahoma Department of Agriculture held a ceremonial wheat trade signing in Waukomis, Oklahoma on Wednesday, August 3, 2022 with US Wheat Associates and members of the Ecuador- Peru Wheat Trade Team traveling in north central Oklahoma. Oklahoma State Secretary Blayne Arthur greeted the team and then read the agreement as members of the Trade Team looked on. The agreement was estimated to have $149 million dollars of value to the Oklahoma wheat industry in purchases by the milling and baking industries of the two countries.
Leadership from the Oklahoma Wheat Growers Association also participated in the ceremony and helped host the tour for the group during the day on Wednesday.
You can listen to our conversation with the US Wheat Associates rep that traveled with the group- and from one of the wheat industry officials from Lima, Peru. You can also watch the video from the ceremonial signing last night held in Waukomis- all of this in our feature story this morning on our website- click on the Blue Button below to check it out.
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For more information on our services or to find a location near you, visit our website here.
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Candidate Todd Russ says the Right Kind of Experience is Critical for State Treasurer's Office
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Farm Director, KC Sheperd, had the chance to visit candidate for Oklahoma State Treasurer, Todd Russ talking about his priorities as the runoff approaches.
“Since I am running for state treasurer, one of the first things I’ll be looking at is the unclaimed property fund and some of the processes inside there,” Russ said. “When it comes to estates and family units, a lot of rural Oklahoma gets caught up in their estate planning and stuff, and their heirs end up not making good claims and it goes into the unclaimed property fund for the state."
An important goal of Governor Stitt is to make Oklahoma a top-ten state. Looking at where those state funds are allocated, Russ said his experience in finances will be a great asset in the position of state treasurer.
“It is very important to keep a good account of the money, but I will tell you the state treasurer does not appropriate one dime- they just process the payments that the agencies and the legislature spend, and they invest the surplus,” Russ said. “There are about 10 billion dollars that have to be invested into the proper types of investments. It is to some extent statutorily guided, so you really need to know a lot about the true finance side of the investments.”
With his runoff coming up, Russ said he would like people to know that he is honest and has integrity, which are two qualities that are essential in a state treasurer position. Russ has a background of 25 plus years in banking, he added, which includes experience as a bank CEO and managing a 200-million-dollar investment portfolio.
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Slight Increase in Producer Sentiment despite Rising costs and Lower Crop Prices
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The Purdue-CME Group Ag Economy Barometer sentiment index rose 6 points in July to a reading of 103. Producers in this month’s survey were somewhat more optimistic about both current and future economic conditions on their farms than they were in June. The Index of Current Conditions rose 10 points in July to 109 while the Index of Future Expectations rose 4 points to 100. Although all three indices rose this month, they were still 23-24% lower than a year earlier. Farm operators in this month’s survey voiced concerns about several key issues affecting their operations with higher input prices (42% of respondents) receiving the number one ranking followed closely by lower crop prices (19% of respondents), rising interest rates (17% of respondents) and availability of inputs (15% of respondents). The Purdue University-CME Group Ag Economy Barometer sentiment index is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted from July 11-15, 2022.
Producers’ expectations for their farms’ financial performance improved in July compared to June as the Farm Financial Performance Index rose 5 points to a reading of 88. Improvement in the index was attributable to a small shift in responses away from expecting worse performance in 2022 than last year towards expecting better financial performance than in 2021. The modest rise in the index was surprising given that key commodity prices, including wheat, corn and soybeans, all weakened during the month separating data collection for the June and July surveys. However, when asked to look ahead a year from now, there was virtually no change in producers’ responses to the July vs. the June surveys. In July, 49 percent of respondents said they expect their farm to be worse off financially a year from now, which compares to 51 percent of respondents who felt that way in June. This is a markedly more pessimistic outlook than producers provided a year ago when just 30 percent of respondents said they expect their financial condition to worsen in the upcoming year.
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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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Cotton County 4-H'er Takes Top Honor at State 4-H Roundup
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When Zach Wagner was younger, he heard the quote, “The only thing limiting yourself is yourself.” It didn’t mean much to him until he started down his 4-H path. What a journey that has been, culminating in receiving the highest award a club member can achieve on the state level.
The Cotton County 4-H’er was inducted into the Oklahoma 4-H Hall of Fame at the Honors Night Assembly during the 101st State 4-H Roundup at Oklahoma State University. In addition, he received the Ira Hollar Advanced Leadership Scholarship. This $1,200 scholarship is sponsored by the Ira Hollar Endowment. He also received the $1,200 Rule of Law Graduating Senior Scholarship sponsored by the Rule of Law Endowment.
A self-described shy, keep-to-himself kind of kid, Wagner said his life began to change when he joined 4-H.
“I attended meetings and entered a few items into the county fair, but I wasn’t really involved in any 4-H competitions or fun activities,” he said. “When my best friend invited me to go to summer camp with him, that’s when things really changed. This opened my eyes to 4-H and made me realize that I had only opened one door to an entire world of new activities.”
He said he kept trying new things, all while keeping that quote in the back of his mind. While attending the Youth in Action Conference, he discovered he had a certain skill he could use – leadership.
“I learned I could use the abilities I was blessed with to teach people, to lead them, to care for them,” he said. “I became more and more involved and kept stretching my horizons and found a drive to keep doing activities. 4-H changed my life.”
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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
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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Tyler Cozzins says Inflation Environment May Be a Headwind for Beef Demand in the Future
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In this episode of beef buzz, I am featuring comments from agricultural economist at the Livestock Marketing Information Center, Tyler Cozzins, talking about beef demand and recent beef retail prices in the U.S.
Cozzins says beef demand seems to be holding steady despite a very high plateau in current beef prices.
“In June, retail beef prices were $7.66 per pound,” Cozzins said. “This is up 20 cents per pound from last year. The record price we have seen for beef actually occurred in October of 2021 and that was $7.90.”
Cozzins said July prices are expected to remain high based on what we are seeing as far as wholesale prices that have occurred over the last month.
“Specifically looking at the chuck, round, loin and ground beef, often those grilling cuts that we see, the chuck and the round have been tracking about even with prices that we saw a year ago,” Cozzins said. “Chuck has been about $3.50 per pound and the round has been about $2.50 per pound.”
On the other hand, Cozzins said we are seeing the loin higher than it was last year at about $9 per pound, which is up about $2 from last year.
“Interestingly, ground beef is also holding very strong specifically looking at the 90 percent lean and 50 percent lean beef prices,” Cozzins said. “90 percent lean has been about $2.70 per pound. That is well above typical levels for this time of year, which are usually about $2.20 so about 50 cents higher.”
Cozzins says he sees the signs of consumers backing away from buying beef in the domestic marketplace eventually.
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Zoetis Receives Expanded Labels for Beef Implant Products
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Zoetis announced today it has received expanded label approval from the Food and Drug Administration’s Center for Veterinary Medicine (CVM) on three beef implant products. Synovex Choice® is the foundation of new reimplant labels that are now available to feedlot operations, which also include Synovex Plus® and Synovex® One Feedlot.
“This approval provides beef producers with enhanced flexibility to more broadly use these technologies to help them meet their production and profitability goals,” said John Hallberg, DVM, PhD, U.S. director of regulatory affairs, Zoetis. “The performance benefits of Synovex Choice, Synovex Plus and Synovex One Feedlot have long been proven and this is the logical next step for the industry.”
These three products are approved for reimplanting programs in both steers and heifers fed in confinement for slaughter. The three reimplantation labels include:
• Synovex Choice followed by Synovex Choice, 60 to 120 days later
• Synovex Choice followed by Synovex Plus, 60 to 120 days later
• Synovex Choice followed by Synovex One Feedlot, 60 to 120 days later
Effective immediately, existing packages of Synovex Choice, Synovex Plus and Synovex One Feedlot can be used in reimplanting programs at feedlots. Animal health product suppliers and cattle producers will begin seeing updated labels with the approved reimplantation language by the end of 2022.
“The Synovex brand has contributed more than 66 years of growth productivity and innovation to the U.S. beef cattle industry,” said Paul Parker, senior marketing manager, Zoetis. “We recognized the need and committed our resources to seek approval for these reimplant labels. These new label indications provide cattle feeders with proven options to help optimize performance in a profitable and sustainable manner.”
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Redlands Community College Brings Students Cutting-Edge Agriculture Technology Experience
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This fall, Redlands Community College will offer new courses and two new agriculture degree options focusing on agriculture technology, thanks to a five-year grant totaling nearly $1.5 million dollars by the U.S. Department of Education.
Designed to expand opportunities to students interested in both agriculture and technology - Native American and low-income students especially - the courses will delve deep into tech that translates to agriculture, like applied automation, robotics and drone operation. New advancements in technologies like computer vision software, drone technology and automation are transforming modern agriculture to address major issues like farm labor shortages, the rising population and healthier growing methods, and Redlands is on the forefront of training the new wave of tech-savvy farmers.
Dr. Julie Flegal-Smallwood, director of the NASNTI STEM (Native American Serving Non-Tribal Institution) program, said two degrees at Redlands Community College will address the burgeoning Ag Tech field this fall.
Agriculture Technology will be included as a degree option for an Associate in Science in Agriculture, as well as an Associates in Applied Science in Agriculture Technology and Sustainability. Key features of these degree tracks include the development of new courses in Drone Technology, Coding/Robotics, and GIS Mapping, along with other existing courses in sustainability, including Vermiculture Technology and Aquaponics.
“We will also be offering an embedded certificate in these degree plans. Individuals who are interested in Ag Tech are likely to be interested in non-traditional agriculture applications, urban farming, vertical farming, or working with technology instead of more traditional applications,” she said.
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Oil & Gas Revenue Skyrockets in July
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State collections from oil and gas production again climbed to record levels in July, only a month after setting an all-time high, State Treasurer Randy McDaniel announced today as he released the latest Gross Receipts to the Treasury report.
Total collections in July of $1.38 billion are 13.3 percent higher than receipts in July of last year. Receipts from the gross production tax on oil and gas extraction set a one-month record of $187.2 million, up by $104.6 million, or 126.6 percent, from the prior year. This surpasses last month’s record by $16 million, or 9.4 percent.
“Gross production collections are coming in at historic highs, which are driving growth in overall revenues,” Treasurer McDaniel said. “Looking ahead, inflation continues to be a major concern, even though we’ve seen some minor relief at the pump.”
The AAA reports the average price of gasoline in Oklahoma is currently $3.76 per gallon, down from $4.54 a month ago. July gross production collections are based on May production when West Texas Intermediate crude oil was $109.55 per barrel and Henry Hub natural gas was $8.14 per million BTU.
Collections on income and consumption also rose in July, but at single-digit instead of triple-digit growth rates. Combined individual and corporate collections of $372.1 million are up by 5.5 percent. Total sales and use tax receipts of $590.1 million show an increase of 8.1 percent.
Monthly motor vehicle tax collections dropped for a second consecutive month. July receipts of $77.2 million are down by 5 percent from the same month of last year.
Gross receipts for the past 12 months of $16.62 billion are up by $2.52 billion, or 17.9 percent, over the prior 12-month period. All four major revenue streams show growth, ranging from 100.8 percent in gross production collections to 5.4 percent in motor vehicle tax receipts.
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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 lower- Choice Beef was down 52 cents and Select Beef was down 25 cents on Wednesday 08/03/2022.
Click on the Button below for the latest report from USDA Market News
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OKC West in El Reno had 7,032 head of cattle during their sales on Tuesday and Wednesday of this week.
According to USDA Market News- Feeder steers traded 5.00-8.00 higher. Feeder heifers sold 3.00-6.00 higher. Demand very good for feeders, especially heavier weights. Steer and heifer calves that were weaned were to lightly tested this week, few trades steady to weak. Bulk of the offering was un-weaned new crop calves, large supply was bulls. Demand moderate.
OKC West Manager Bill Barnhart adds his thoughts to this week's activity via their Facebook Page- " It looked like the start of the fall calf run at the auction Tuesday. Lots of calves coming to town as producers are weaning early with no weather relief in sight. The calf market will be under pressure for the foreseeable future until the weather breaks. Most this week were unweaned and unworked. Cows and calves will continue to go to market as producers try to work their way through a hot dry Summer. The feeder market on the other hand was stronger again on lighter offerings. The bulk of the grass yearlings have moved to very good demand throughout the summer. Kills remain large keeping feedyards current. The fat trade quoted as steady so far this week. Have a great week.
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/Ranch Broadcaster and Editor
KC Sheperd, Farm Director and Editor
Dave Lanning, Markets and Production
Reagan Calk, Farm News and Email 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 a big reason why Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity dives into these stories, bringing 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.
KC Sheperd visits with Dakota Moss of Livestock Risk Services. When the pandemic hit in 2020 the cattle markets along with the rest of the world suffered. Many farmers and ranchers altered their marketing plans on crops and livestock to try and prevent a loss in the down Covid markets. This led to cattle being held months longer than planned hoping for a better market. Unfortunately for many farmers and ranchers they had no choice but to sell much heavier cattle into a down market. Resulting in a lower $/cwt price and profits lost. Sheperd and Moss discuss some alternative options for producers with the Livestock Risk Protection program.
Search for Road to Rural Prosperity and subscribe on your favorite Podcast platform.
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, 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
Rural Oklahoma Networks
405-317-6361
***************
Mike Henderson
Director of Sales
405-615-4922
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KC Sheperd
Farm Director
Radio Oklahoma Ag Network
405-443-5717
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Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
405.473.6144
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