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Superior Livestock saw sharply higher prices than their last sale on calves and yearlings across the country- click here to see their full report of their May 31st sale.
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
Friday, June 1, 2018
Trump Tariffs on Steel and Aluminum for Canada, Mexico and EU Draws Ire from Agricultural Community
President Donald Trump is moving ahead with steel and aluminum tariffs on some of the United States' closest allies and that could result in serious pain for agriculture. Politico says any official documents released by the administration are expected to include some wiggle room for allies. European Union officials representing 28 of the member-countries listed as targets, are said to be resigned to accepting that some sort of tariffs are coming their way.
The EU has vowed to hit back with retaliatory tariffs. A recent list compiled by the EU targeted $3.3 billion worth of U.S. imports. Politico says the list shows products targeted for retaliation were drafted so as not to harm European Union industries. Some of the products are clearly designed to impact Republican-leaning states, such as Kentucky bourbon. Others on the list include rice, peanut butter, orange juice, and cranberries.
Canada and Mexico aren't immune from the tariffs either, and both countries have said they will retaliate. These tariffs will also impact two of the world's largest export markets, China and India.
"It's frankly absurd that we would in any way be considered to be a national security threat to the United States," says Canadian Foreign Minister Chrystia Freeland.
Commerce Secretary Wilbur Ross made the announcement that the U.S. would move forward with the tariffs earlier this week.
Farmers for Free Trade Executive Director Brian Kuehl states that this decision by the Administration opens the floodgates to billions in new tariffs on American agriculture. U.S. Grains Council President and CEO Tom Sleight also stated his group is deeply concerned about the new tariffs set to be implemented.
"Based on the information we've heard from our customers and past experience, we have U.S. agriculture, including the products we represent, will be among the first hit by countermeasures from our trading partners," Sleight says, "and these countries are our closest neighbors and friends. We've spent years building these relationships and markets with other countries."
USMEF President and CEO Dan Halstrom addressed the possibility of retaliation tariffs on the way.
"If these tariffs are implemented, they will negatively impact millions of consumers and thousands of people in the meat and livestock industries on both sides of the border," he said. "USMEF is hopeful that this impasse will be resolved as soon as possible, with duty-free access for U.S. pork maintained. This is especially important now that key competitors such as the European Union are making market access gains in Mexico and view it as a promising market for their pork products."
It's great to have one of the premiere businesses in the cattle business partner with us in helping bring you our daily Farm and Ranch News Email- National Livestock Credit Corporation. National Livestock has been around since 1932- and they have worked with livestock producers to help them secure credit and to buy or sell cattle through the National Livestock Commission Company. They also own and operate the Southern Oklahoma Livestock Market in Ada, Superior Livestock, which continues to operate independently and have a major stake in OKC West in El Reno. To learn more about how these folks can help you succeed in the cattle business, click here for their website or call the Oklahoma City office at 1-800-310-0220.
|Plains Grains Says Texas 29% Done- Oklahoma 15% Complete with 2018 Wheat Harvest
The first hard red winter wheat harvest report of 2018 has been released by Plains Grains, Inc which shows that the southernmost areas of the HRW belt are racing through the limited acres that will see a combine in 2018.
Here is the report text for June first, 2018:
The 2018 HRW wheat harvest has been progressing rapidly over the 7 to 10 days. While wheat was being cut in central Texas early last week, harvest began in southwest Oklahoma late last week (Thursday afternoon) just north of the Oklahoma/Texas state line. Harvesting, because of drought conditions and abandonment in Texas and Oklahoma, has raced northward (quote from the Oklahoma Wheat Commission Harvest Report; (One elevator location mentioned they hope to take in 10 percent of what they would in a normal year due to the drought and increased plantings of other crops.)).
The state of Texas is now projected to be 29% harvested and Oklahoma is projected at 15% harvested. However, the local areas in both states that began harvesting last week are now 80%-90% complete. Acres of abandonment in both states are still a very big unknown factor at this point. Harvest has moved as far north as central Oklahoma, but there are still large areas between southwest Oklahoma and central Oklahoma to be harvested.
Click or tap here to read more from Mark Hodges' first harvest report of the 2018 season.
|Kim Anderson Says First Wheat into the Elevator is About What He Expected in Terms of Quality
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Kim Anderson says based on early reports on harvest from the countryside, wheat crops across Oklahoma are coming in as expected mostly with lower yields and spotty quality. He says producers who farmed with an intention of developing protein content in their wheat investing in nitrogen applications turned out some high-quality, high test weight wheat. Other farmers that did not make the investment in inputs this year are bringing in lower quality wheat. Overall, though, he says production will be lower and quality by and large will be better than the previous crop.
Elsewhere, Anderson says crops are looking relatively good, especially the farther north you go out of the drought areas of the Southern Plains. In Kansas, he says things look good except for the western part of the state that experience much of the same weather conditions as Oklahoma did this year. Crops in Montana and Wyoming look even better.
On the whole, Anderson says nationwide, quality again will be better though it will be a lighter production year. He anticipates a total US crop of roughly 150 million bushels. Around the world, a similar narrative is playing out. Anderson reports yield-reducing dryness in Russia, Australia and Canada. Anderson predicts this will bring worldwide production down from last year by two to three percent.
You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now and see what else is on the lineup for this week's episode, by clicking here.
Rising Interest Rates Add to Already Stressed Agricultural, Rural Economy Says New CoBank Report
A new report by CoBank suggests more financial burdens are on the way for those in agriculture and residing in rural America. It appears a steady march higher in interest rates will be to blame. According to the report, the Federal Reserve has been nudging interest rates higher since 2015, after years of historically low rates and quantitative easing. Now as farm incomes tighten, it looks as though rural America will be faced with increased interest expense, adding to farmers' already heavy financial burdens. Interest rates now join a laundry list of other costly issues weighing on the rural economy, including higher steel and aluminum prices, higher labor costs, and rising fuel and transportation costs.
While the current projections indicate rising costs, the collective agricultural industry should have the capacity to service its debt in the near term. However, farm land values and debt vary widely by location and industry. Some industries have been hit harder by lower agricultural commodity prices and will see more pressure than others in a rising interest rate environment. The U.S. Corn Belt and Northern Plains regions, for instance, will experience greater stress than the Pacific and Northwest regions.
Tanner Ehmke, manager of CoBank's Knowledge Exchange Division says, "Farms and agribusinesses with higher debt levels, increased leverage, more short-term and variable-rate versus fixed-rate debt, or a need for larger operating loans will face more financial stress as interest rates rise." Click here to read the full report entitled, "Rising Interest Rates Will Add to Inflationary Stress on Agriculture and Rural America," on our website.
Dating back to 1891, Stillwater Milling Company has been supplying ranchers with the highest quality feeds made from the highest quality ingredients. Their full line of A & M Feeds can be delivered direct to your farm, found at their Agri-Center stores in Stillwater, Davis, Claremore and Perry or at more than 125 dealers in Oklahoma, Arkansas, Kansas and Texas. We appreciate Stillwater Milling Company's long time support of the Radio Oklahoma Ag Network and we encourage you to click here to learn more about their products and services.
Don't Be Fooled, It's Better Than It Looks - Drought Map Shows Improvement, But More on the Way
This week's Drought Monitor map is a little deceiving, given we've had rain since Tuesday - the report's cutoff for calculating precipitation. So, conditions are actually better than they look according to the map.
No worries, though, next week's report will reflect what we're not seeing here.
As it stands today, little change is noted in this week's report, aside from about a 10 percent increase in abnormally dry conditions for the state and about a 5 percent drop in the Exceptional category rating. The current drought monitor map rates 62 percent of the state in abnormally dry conditions, 45 percent in moderate drought, 40 percent in severe drought, 29 percent under extreme drought conditions and just under 10 percent of the state under exceptional drought conditions. Those most exceptional conditions are concentrated in western Oklahoma split in two large areas in the northwest quadrant of the state and the far west end of the Panhandle.
While rain deficits across the state are improving, there is still work to do to catch up. However, recent forecasts predict temperatures will rise up as much as 109 degrees in the coming days, so time will tell.
For a closer look at this week's drought monitor, or to read this week's Mesonet Ticker report, click here.
White Wheat Heads Showing Up Across Panhandle Give Away Fusarium Root Rot Issues in Northwest Oklahoma
Oklahoma State University Extension Plant Pathologist Dr. Bob Hunger, released this week his latest and perhaps final wheat disease report for Oklahoma this year, recording his most recent observations from travelling across the state this past week. According to it, the most prominent problem he discovered right now is an outbreak of Fusarium Root Rot, which he first noted in his report from May 17th.
This issue seems to have spread throughout several western Oklahoma counties including Texas, Cimarron and Balko. A key indicator of this disease was noticeably apparent in fields Hunger visited - the tell-tale sign of white wheat heads. Hunger described the scene in his report.
"In fields showing this root rot, the white heads and white tillers were scattered across the field with an incidence ranging from low to moderate. Other fields in the panhandle exhibited large areas of not just white heads and tillers, but also white secondary tillers that had not headed. In these fields, some root rot was found but Dr. David Marburger (OkSU Small Grains Extension Specialist) and I believe that many of the white tillers/secondary tillers were the result of drought, freeze, or a combination of both. Often such tillers showed clean lower stems with no indication of root rot. We believe these secondary tillers were completely white without heading because they were sloughed off as a result of the stress from drought, freeze, or a combination of both."
Both Hunger and Marburger concur that more of these whiteheads will likely show up in the coming week, but the wheat crop is quickly turning and the whiteheads may not be as evident.
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US Roundtable for Sustainable Beef Releases First-Ever National Framework for Beef Sustainability
The U.S. Roundtable for Sustainable Beef recently opened a 60-day public comment period on the group's Sustainability Framework, which has been in the works for over three years with more than 200 individual industry stakeholders contributing to its development. The Sustainability Framework is a set of resources developed to assist ranchers, cattle auction markets, feedyards, packers, processors, and retail and food service organizations in their efforts to continuously improve the sustainability of U.S. beef. Roundtable chair, Kim Stackhouse-Lawson spoke with us about the framework, which she says should "serve as an invaluable tool in enhancing U.S. beef sustainability.""From the rancher to the consumer purchasing beef for their family meal, everyone plays a unique and important role in beef sustainability. The USRSB Framework was intentionally designed to apply to all sizes and types of operations and companies, no matter where they are in their sustainability journey," Stackhouse-Lawson said. "This approach celebrates the diversity of the U.S. beef community, while providing enough flexibility to address the unique sustainability challenges across our national production system." The key areas identified by the group as being important to the sustainability of beef are referred to as High-Priority Indicators. These include: animal health and well-being, efficiency and yield, employee safety and well-being, land resources, water resources, and air and greenhouse gas emissions. The Public Comment Period will end July first. More information on the framework and how comments may be submitted can be found here."The USRSB Public Comment Period is an opportunity for us to listen. As we open this conversation to the public, we will build upon the USRSB's foundational work with the important input from interested stakeholders," said Stackhouse-Lawson. "Our journey is not complete after the comment period. The USRSB's mission is to continuously improve, meaning we will always need to evaluate, assess, and adapt to ensure the U.S. beef value chain remains the trusted global leader in sustainable beef production." Click here
to hear our conversation in full as we discuss this framework in depth.
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