Oklahoma's Latest Farm
And Ranch News
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Thursday, October 13, 2022 |
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Here is your daily Oklahoma farm and ranch news update.
- Uncertainty in Today's Economy is the Largest Factor Influencing Low Producer Sentiment
- October Crop Production Indicates 2022 Cotton Production in Oklahoma Worst Crop Since 2012
- USDA Lowers Corn, Soybean Yields Slightly in Latest WASDE Report
- Biden-Harris Administration Invests $1.17 Million to Improve Health Care for Rural People in Oklahoma
- No Imports or Exports Would Result in a Smaller U.S. Beef Cattle Industry
- Farmers Invest in New Frontiers with Commodity Donations
- OKFB Praises Modified Regulations on Hay Transport During Historic Drought
- Oklahoma Hay Market Report Shows Hay Supplies getting Tighter
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Uncertainty in Today's Economy is the Largest Factor Influencing Low Producer Sentiment |
At the 2022 Rural Economic Conference put on by the Oklahoma State University’s Agricultural Economics Department at the ConocoPhillips Alumni Center located on the OSU campus, I got the chance to speak with Dr. Jim Mintert from Purdue University about the Ag Economy Barometer project he started in 2015 aimed at providing a tool for producers, economists, traders, finance industry professionals and journalists who are interested in understanding the agriculture industry and the broader global economy.
The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy. On the first Tuesday of each month, the Ag Economy Barometer provides a sense of the agricultural economy’s health with an index value. The index is based on a survey of 400 agricultural producers on economic sentiment each month. Quarterly, the index is accompanied by an in-depth survey of 100 agriculture and agribusiness thought leaders.
“We had an opportunity back in 2015 to launch a project and partnership with the CME (Purdue University’s Center for Commercial Agriculture) group to create an index called the Ag Economy Barometer,” Mintert said. “It is a sentiment index for U.S. agricultural producers. It really mirrors what has been done for decades with the survey of consumers that has been done by the University of Michigan.”
The Ag Economy Barometer, Mintert said, specifically looks at production agriculture.
“We talk to people that produce the primary ag commodities on the crop side- corn, wheat, soybeans, and cotton,” Mintert said. “On the livestock side, we talk to people that produce beef, pork, and dairy producers.”
By specifying the target groups to survey, Mintert said the Ag Economy Barometer is able to focus on the major food groups and production outlets that are fueled by producers who grow about 80 percent of the nation’s food.
In a most recent survey, Mintert said around 15 percent of the producers in the survey said one of their top concerns for the 2023 crop season was input availability.
“Very interesting with respect to all of the volatility we have got out there and all the uncertainty,” Mintert said.
The uncertainty aspect, Mintert said, is why the sentiment among producers is so weak today.
“I look at it from the standpoint of, producers are looking at very elevated production costs right now, and based on current budget projections, for example, in the crops, looks like we should be profitable,” Mintert said. “But the risk level has increased, they have got this big investment going into the ground, and the question is, can you guarantee me that I am going to have the opportunity to sell wheat, corn, soybeans, milo, at profitable prices when I harvest that?”
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Oklahoma Farm Bureau is a grassroots organization working to improve the lives of all Oklahomans by supporting our state’s agriculture community. As Oklahoma’s largest general farm organization, OKFB advocates for farmers and ranchers at the state Capitol and in Washington, D.C., to ensure our way of life continues for generations to come.
With leadership events, supporting our state’s agricultural youth and connecting consumers with agriculture, Farm Bureau promotes and sustains Oklahoma agriculture in numerous ways. Join with OKFB today by becoming a member at okfarmbureau.org/join. Together, we are rural Oklahoma.
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Oct Crop Production Indicates 2022 Cotton Production in Okla. Worst Crop Since 2012 |
COTTON: Oklahoma cotton production is estimated down 68 percent from 2021.
Nationally- based on conditions as of October 1, cotton yields are expected to average 842 pounds per harvested acre, down 1 pound from the previous forecast but up 23 pounds from 2021. Upland cotton production is forecast at 13.3 million 480-pound bales, down less than 1 percent from the previous forecast and down 22 percent from 2021.
Oklahoma's upland cotton area harvested is forecast at 310,000 acres as of October 1, which is 30 percent less area harvested than in 2021 at 440,00 acres, and the same as last month’s estimate. As for pounds per acre, the October 1 estimate of 341 pounds per acre is down from the September 1 forecast of 387 and down about 55 percent from 2021, which was 756 pounds per acre. Oklahoma is forecast to produce 220 thousand 480-pound bales, down from last month’s estimate of 250,000 bales and down 68 percent from 2021’s production of 693,000 bales. NOTE- the 2022 crop is the worst since the last major drought in the region when Oklahoma produced just 150,000 bales in 2012 and 87,000 bales in 2011.
In Texas, USDA predicts cotton area harvested for 2022 to be 2.53 million acres, which is 55 percent less than last year’s area harvested at 5.56 million acres and the same as last month’s estimate. Yield per acre is predicted to be 654 pounds per acre, which is up from last month's estimate of 616 pounds per acre and down 1.8 percent from last’s year’s yield per acre which was 666 pounds. For 2022, the USDA predicts Texas will produce 3.4 million bales, which is up from last month’s forecast of 3.2 million bales, but 55.4 percent less than 2021 (7.7 million bales).
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USDA Lowers Corn, Soybean Yields Slightly in Latest WASDE Report |
USDA on Wednesday released its October Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.
USDA shaved corn production 49 million bushels (mb) to 13.895 billion bushels (bb) and cut yield .6 bushels per acre (bpa) to 171.9 bpa, right in line with pre-report estimates.
USDA lowered its yield estimate for soybeans to 49.8 bpa, .7 bpa lower than September's estimate. It left planted and harvested area unchanged at 87.5 million acres and 86.6 million acres, respectively. That put overall production at 4.313 bb, within the range of pre-report expectations.
USDA estimates U.S. wheat ending stocks at 576 mb, the lowest level in 15 years and above the pre-report estimate of 563 mb.
USDA also increased corn imports from 25 mb to 50 mb as well. That put total supply at 15.322 bb, still down 172 mb from September's forecast.
USDA estimates U.S. wheat use at 1.86 bb, down from 1.94 bb in September. USDA estimates production at 1.65 bb for October, down from 1.78 bb in September. USDA estimates total acres harvested at 35.5 million, down from 37.5 million in September.
Wheat exports were estimated at 775 mb, also down from September. USDA bumped the farmgate price of wheat from $9 to $9.20 in October.
Click on the video box below to hear Rich Nelson's take on the USDA reports of yesterday.
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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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OKC West Livestock Market is a modern facility with improved ways of handling livestock. OKC West was designed with producers in mind, and truck drivers and buyers alike.
We are proud that 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- or click here for their website.
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Biden-Harris Administration Invests $1.17 Million to Improve Health Care for Rural People in Oklahoma |
U.S. Department of Agriculture (USDA) Rural Development Oklahoma State Director Kenneth Corn today announced that USDA is awarding $1.17 million in grants to improve health care facilities in rural towns across Oklahoma. These grants will help five rural health care organizations in Anadarko, Atoka, Choctaw County, Coal County and Prague continue to deliver vital health services.
“Access to modern and sustainable health care infrastructure in rural Oklahoma is critical to the health, well-being and prosperity for our rural and Tribal communities,” Corn said. “That’s why the Biden-Harris Administration remains committed to making sure that people who need it most, no matter where they live, have access to high-quality and reliable health care services like urgent care, primary care and dental care. Through the Emergency Rural Health Care Grants, I am announcing today, USDA is reinvesting more than $1.17 million in rural Oklahoman’s long-term health.”
The investments USDA is announcing will help equip Oklahoma health care facilities and emergency services and provide improved services to their rural communities.
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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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No Imports or Exports Would Result in a Smaller U.S. Beef Cattle Industry |
In this episode of Beef Buzz, I am back with Oklahoma State University Livestock Marketing Economist, Dr. Derrell Peel, talking more about the study he and Kansas State’s Dr. Glynn Tonsor conducted on the value of imports and exports of beef in the United States.
Peel said that based on the study, the U.S. would be looking at a 129-billion-dollar net loss to the feeder cattle industry and about 68 billion dollars to the fed industry if the country decided to do away with beef imports and exports.
“The bottom line is, you have lowered cattle values and you ultimately have a smaller industry,” Peel said. “If we don’t have those markets, the industry will, over time, adjust down. In the short run, you will have the loss of prices and so on, and that is the kind of thing that would lead to that long-run adjustment in the market and the bottom line is, we would have a smaller industry in the U.S.”
Peel said imports and exports impact everyone, even the consumer. In some markets, exports compete with consumers in terms of value, Peel said, so if foreign customers are willing to pay more for a product, the marketplace will send those products toward them.
“On the other hand, given the role of ground beef in our industry, without the imported beef, we would not have the ground beef market that we have today, or if we did, it would be substantially more expensive,” Peel said. “Consumers, specifically in that market, would certainly lose, and so the bottom line is we have a smaller industry- there is just not as much beef in the U.S.- I think everybody loses.”
Exports give cattle producers in the United States an additional avenue to accomplish more with their product.
“It is important to keep in mind that we are talking about product markets and different sets of products,” Peel said. “From a particular animal, we don’t export typically all of the products from that animal, but in certain markets, certain pieces of many animals are exported by the same token. The import impacts parts of many animals and so you have to look at the whole industry, the whole set of products across all of the types of products that we produce and recognize the value to that and the additional value that trade provides to the industry.”
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Farmers Invest in New Frontiers with Commodity Donations |
The Oklahoma State University New Frontiers campaign, which will help build a state-of-the-art teaching, research and Extension facility for OSU Agriculture, is creating unique opportunities for supporters to give back to the university.
With the option to donate commodities, farmers can invest in the future of agriculture.
Richard and Melodee Wuerflein of Kremlin and Keith and Marlene Kisling of Burlington became New Frontiers major gift donors when they donated commodity crops.
Richard Wuerflein returned to Kremlin to take over his family farming operation after graduating from OSU in 1977 with a degree in agricultural economics. Successful in his operation, Wuerflein said he has been blessed to support different scholarship and campaign funds, but this was his first time to give grain.
“We had a couple of good years and had extra bushels of soybeans,” he said. “Once I found out I could roll my grain to the OSU Foundation through the local co-op store, the process was simple.”
Gifting bushels of soybeans through Farmers Grain Co., Wuerflein later made an additional donation in support of Alpha Gamma Rho to name a space in the new building.
“After transferring ownership of the grain, which was immediately sold to support the New Frontiers campaign, I found out AGR was trying to name a room, so I decided I could donate two years in a row and help finish out that project,” he said.
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OKFB Praises Modified Regulations on Hay Transport During Historic Drought |
Governor Kevin Stitt signed an executive order Tuesday, Oct. 11 temporarily waiving many load regulations for vehicles transporting hay into Oklahoma during the state’s historic drought.
The executive order expands the acceptable load width from 11 feet to 12 feet, allowing two 6-foot round bales to be loaded side-by-side. Load heights max out at 14 feet, and transport vehicles must be marked with an “oversize load” sign.
“Oklahoma Farm Bureau greatly appreciates the continued support from Gov. Stitt during this challenging time for Oklahoma farmers and ranchers,” said Rodd Moesel, OKFB president. “The intense drought during most of the 2022 growing season depleted many producers’ forage supply, forcing them to source and transport hay across state lines. This executive order will allow shipments of desperately needed livestock forage to take place as efficiently as possible while keeping safety as a top priority for all involved.”
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Oklahoma Hay Market Report Shows Hay Supplies Getting Tighter |
Compared to the last report: As hay gets tighter and drought continues to worsen in our state, farmers continue to bale up their crops to sell as hay.
In addition, we are already seeing hay coming in from all parts of the country in hopes it will be enough to get through these tough times.
Best quality alfalfa hay is priced this week from $270 to $280 a ton delivered while bermuda grass hay is being priced $80 to $90 a ton FOB.
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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 9 cents and Select Beef was up $1.41 on Wednesday 10/12/2022.
Click on the Button below for the latest report from USDA Market News
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OKC West in El Reno had 6,811 head of cattle in their Tuesday and Wednesday sales of this week.
USDA Market News reports "Compared to last week: Feeder steers and heifers traded mostly steady. Demand moderate. Steer and heifer calves that were un weaned sold steady, long weaned calves traded 2.00-3.00 higher. Demand moderate. Most of the trade area has received moisture over the early parts of the week."
OKC West Manager Bill Barnhart adds these comments on the market's Facebook page: "The market remained mostly steady this week on stockers and feeders. Some light showers fell in the immediate trade area this week. Not enough to do much but a welcomed start none the less. Big cow runs will continue for the foreseeable future as producers are short on pasture and stockpiles of hay. Not much has taken place on the fat trade so far but packers have kept kill schedules up and are moving product."
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 talks educational issues impacting Oklahoma with State Secretary of Education Ryan Walters. Walters is also the GOP Nominee running for the State Superintendent of Education in the November General Election.
Walters tells Sheperd that “I believe in parents. I believe in our rural communities and our rural schools. I believe they are the backbone of the education system in the state of Oklahoma. I am going to do all that I can to continue to empower them and to make sure they are strong. The governor and I pushed and passed the Redbud Act which put over 38 million into stabilizing our most rural schools. That is something we thought was very important.”
In rural communities, Walters said, a concern from parents is access for their children to different programs such as FFA, for example, or work in an internship or externship. Rural schools are unique, Walters said, because of how involved the staff and community are.
There are many questions over whether or not money from medical marijuana and the lottery are being used for education in Oklahoma when so many schools are still underfunded throughout the state. Because of this reason, Walters said, he has already called for an audit.
“Taxpayers need to see where their money is going and we need to make sure it is being utilized,” Walters said.
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, Oklahoma Pork Council, 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
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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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