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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.
During Wednesday's sale of finished cattle on the
- 449 head of cattle were offered with 225 sold at a weighted average price of $110.00 reported. Click here
to see their complete market results.
OKC West ended up with more than 12,000 head sold on Tuesday and Wednesday of this week- the Wednesday Feeder Sale had yearling steers trading $2 to $3 higher- details are available here.
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
Thursday, May 31, 2018
An ethanol coalition has filed suit against the Environmental Protection Agency in the U.S. Court of Appeals for the Tenth Circuit. The Renewable Fuels Association, the Advanced Coalition for Ethanol, National Corn Growers, and the National Farmers Union are suing the EPA to challenge several waivers to the Renewable Fuels Standard, given out in secret to several profitable refineries.
The groups are challenging three specific decisions that were made under clandestine conditions. The EPA gave exemptions to refineries in Oklahoma, Wyoming, and Utah. The companies that own the three refineries have estimated in financial disclosures that the exemptions saved them roughly $170 million in costs. The petitioners aren't challenging the EPA's authority to grant the waivers. They're challenging these three decisions as specific abuses of the EPA's authority.
The refinery named in the litigation in Oklahoma is the one in Wynnewood- owned by CVR Energy.
Bob Dineen, CEO of the Renewable Fuels Association, says the EPA is trying to undermine the RFS under the cover of night. Brian Jennings, CEO of ACE, says the EPA left them no choice but to file suit.
"They're distorting the intent of the law by granting secret hardship waivers under the cover of night," says Jennings. "We cannot sit by and allow the EPA to violate the RFS, which requires increasing the use of renewable fuels in the U.S."
Click here to read more about this story on our website.
It's great to have the Livestock Exchange at the Oklahoma National Stockyards as a sponsor for our daily email. The eight Commission firms at the Stockyards make up the exchange- and they are committed to work hard to get you top dollar when you consign your cattle with them. They will present your cattle to the buyers gathered each Monday or Tuesday at one of the largest stocker and feeder cattle auctions in the world.
Click here for a complete list of the Commission firms that make up the Livestock Exchange at the Oklahoma National Stockyards- still the best place to sell your cattle- and at the heart of Stockyards City, where you can go around the corner enjoy a great steak and shop for the very best in western wear.
New Report from BIO Shows Substantial Economic Costs of Chinese Delays on Ag-Biotech Approvals
A new report released by Informa's Agribusiness Consulting Group this week in cooperation with the Biotechnology Innovation Organization, shows how persistent delays in China's ag-biotech regulatory system slows U.S. farmers' access to new biotechnology products and costs the U.S. economy tens of thousands of jobs and billions in economic output.
Informa estimates Chinese delays from 2011-2016 resulted in farmers and the broader economy foregoing: $5 billion in farm income growth, nearly 34,000 new jobs, $4.6 billion in wage growth, $7 billion in GDP growth, and $15 billion in business sales.
The study also shows that if China were to implement a more efficient regulatory process, there results would be substantially beneficial to the US economy - increasing farm income by almost $5 billion, GDP by more than $7 billion and add over 19,000 US jobs among other things.
"This new report confirms what we've known anecdotally for some time - unreasonable Chinese delays in approval of safe and highly productive ag-biotech crops are hurting farmers in the United States and around the world," said Jim Greenwood, President and CEO of the Biotechnology Innovation Organization (BIO), who hopes to partner with China's government to bring new production technologies to farmers around the world. "The outcome of this partnership will be an increase in global food security and greater economic activity in rural communities."
For more information on the Informa Report, The Impact of Delays in Chinese Approvals of Biotech Crops, click here.
As Summer Doldrums Loom, Producers Encouraged to Stay the Course for Fourth Quarter Rebound
Just after the USDA released its latest Cattle on Feed report this past week, our Associate Farm Director Carson Horn had the chance to speak with Jim Robb of the Livestock Marketing Information Center about some of the different environmental and economic factors currently influencing the beef markets - including the impact drought has had.
"This report definitely shows we placed cattle early, especially out of the Southern Plains, because of drought," he said. "As we look ahead from this point forward, the drought will start to impact when these calves that are born in 2018 are weaned and what we do with our summer grazing program. It can continue to influence the feedlot placement much like they have in recent months, but we'll have to wait and see."
Robb also addressed the recent fall off in cattle prices that have been observed, especially in respect to finished cattle. While the decline has been fairly strong over the last couple of weeks, he says most of that adjustment was well anticipated - however, he admits it may have come at a faster pace than what was expected. This has created an incentive to market cattle early. Even so, Robb says the market is shaping up as anticipated, but cautions that the summer lows are still ahead in June and July in terms of fed cattle prices. Calf and yearling prices he expects, too, have a little ratcheting down left to do. He says much of how things play out will depend on the weather and how favorably Mother Nature decides to treat us. That said, Robb believes for the most part the industry is well positioned to take on whatever challenges may arise during the balance of this year.
"We need to continue to market cattle even though prices will erode here over the next several weeks. If we continue to do that - we set ourselves up for a nice rebound of fed cattle prices in or by the fourth quarter of 2018," he said. "So, we need to keep doing what we're doing on the marketing side and hope for strong movement of beef through the grocery stores and the US economy seems primed to do that."
Listen to Robb's full analysis of the current beef market and its influences, on yesterday's Beef Buzz - click here.
Check Out the Latest Innovations from John Deere Designed to Help Farmers Work Smarter, More Efficiently
Yesterday, we highlighted two new innovations put on the market by John Deere, including an improved windrower built to target canola growers and a mobile app that connects data to individual hay bales as they're being baled in the field.
To meet the demands of small grain customers growing high-yielding canola varieties, John Deere recently introduced its smart, powerful W170 Windrower and a wide range of draper headers to make swathing faster and easier in heavy crop and hilly conditions.
Part of the productivity gain realized by the W170 can be attributed to its proven John Deere 4.5L engine that produces 12 percent more horsepower than its W155 predecessor. The engine is paired with a higher-capacity variable-speed fan that can be reversed, making it easier for operators to clean. At 27.3 mph (43.9 kph), the W170 has the fastest transport speed in the industry to quickly move operators from field to field.
Nick McKelvey, John Deere marketing manager for windrowers, says this new piece of equipment showed an impressive 20 percent productivity gain under heavy crop conditions.
For even more productivity gains, McKelvey says producers can equip the windrower with John Deere AutoTracTM guidance. "Using AutoTrac, customers can harvest more comfortably and more accurately. AutoTrac also reduces operator fatigue, saves fuel by reducing overlap, and helps customers swath more acres in less time," says McKelvey.
You can read more about the W170, by clicking over to our Agri-Innovations page on our website.
For producers with hay on the mind, John Deere has also introduced its Bale Mobile app to help hay and forage producers get detailed information, improve efficiency, identify bale characteristics and track yields to make decision making easier.
Using John Deere Bale Mobile, producers can capture yield and other relevant data for hay. When used in conjunction with a John Deere 1 Series Large Square Baler (L331 or L341 model), equipped with optional moisture and weight sensors, the new app processes moisture and weight data into useable information for baling, loading and overall farm management.
According to McKelvey, individual bale moisture and weight are tagged to each specific bale (geo-referenced within the app) for improved traceability. Operators can also digitally tag specific bales with additional notes in the app that are useful for sorting and enables them to make better informed on-the-go decisions.
After an operator is finished baling the field, a summary provides crop tonnage, number of bales and average moisture readings. Whether a producer is loading trucks or moving bales, Bale Mobile provides agronomic data for them to plan accordingly.
Learn more about this app and all its capabilities, by clicking here.
We are pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update. On both the state and national levels, full-time staff members serve as a "watchdog" for family agriculture producers, mutual insurance company members and life company members.
Click here to go to their AFR website to learn more about their efforts to serve rural America!
Oklahoma State University's New Extension Cotton Specialist Seth Byrd Steps Up into Growing Role
OSU Extension Cotton Specialist Seth Byrd, officially stepped into his position on April 30th of this year, just in time to catch the wave of cotton interest that has built up this season in response to lethargic wheat markets.
Byrd recently expressed how eager he is to get this growing season underway, fully aware of the challenges that lie ahead - considering that many farmers with intentions of planting cotton this year have not dealt with the crop in a very long time, or perhaps ever. Not only that, but also he says cotton is going in the ground where it traditionally hasn't before, leaving many unknowns on the table in regard to best agronomic practices in these areas unfamiliar with the crop. To Byrd, though, that seems more like an opportunity than a challenge.
"You're doing more of trying to predict how the environment is going to affect the crop and manage it to those environmental factors that could potentially cost yield, capitalize on them to increase yield or maintain your yield," he said. "With cotton, maybe there's a little more attempting to mitigate risk, and we may not try to hit a homerun, but like any crop, the goal is to be profitable."
Currently, Byrd's work is focused on establishing a program that evaluates different agronomic practices that ultimately will help producers lead more efficient operations. Longer term, he envisions Oklahoma muscling its way to the front of the national cotton scene. He admits his goals are lofty, but is confident they can be reached and he is prepared to do his part in seeing them realized.
"If a producer or anyone wants to know more about cotton, I'm always open to talk. I want to both answer questions and learn a lot, too," he said. "I don't try to tell anybody how to farm. Cotton growers are incredibly smart people. We just try to help them out on 'what ifs' and navigate some of the new options they have in cotton production now."
You can continue reading about Byrd and his ambitions for Oklahoma's cotton industry, or watch a short video clip of him visiting with the SUNUP team - or listen to a recent interview with Byrd recorded by our own Carson Horn during the OSU Field Day in Lahoma, by clicking here.
Trade Retaliation Hurting U.S. Pork Producers
The National Pork Producers called for a swift resolution to the U.S.-China trade dispute because pork producers are feeling the pain. Iowa State University Economist Dermot Hayes says U.S. pork farmers have lost $2.2 billion on an annualized basis.
The losses are a direct result of the events leading up to and following China's 25 percent punitive tariffs in retaliation for U.S. tariffs on aluminum and steel. Jim Heimerl, NPPC President, says U.S. pork has invested significant funds into ramping up pork production in order to take advantage of opportunities around the world, which include China and other markets throughout the Asia-Pacific region.
NPPC applauds the president for making agriculture exports a cornerstone in the negotiations with China.
"Since March first, when speculation about Chinese retaliation against U.S. pork first started," Hayes says, "hog futures have dropped by $18 an animal. That translates to a $2.2 billion loss on an annualized basis."
Hayes adds that, while not all of the lost value can be attributed directly to the trade friction between China and the U.S., it certainly is the main factor. The market disruption that's being caused by the trade uncertainty comes at a time when American pork production is expanding to record levels.
Click here to check out the original story up on our website.
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|Rainfall in Northern Oklahoma Will Impact Next Week's Drought Monitor
A little bit later this morning- we will get our latest Drought Monitor report- and it will be showing further improvement in the drought status of western Oklahoma- at least SOME improvement.
It will not reflect the rains of the last couple of days- that will be seen in next week's report.
Here is a graphic from the Mesonet showing rainfall in mostly northern Oklahoma the last couple of days- including some heavy rains in Woods County:
It does appear the storms may be done for the next few days as we begin June- and the forecast calls for HOT and humid- expect the first day of June to be well into the 90s in much of Oklahoma.
|Our thanks to Midwest Farms Shows, P & K Equipment, American Farmers & Ranchers, Livestock Exchange at the Oklahoma National Stockyards, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, OERB, Oklahoma AgCredit, 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!
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