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offered 2,125 head of cattle Wednesday with 1,469 head actually sold with a weighted average price of $110. Click here
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At OKC West,
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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, June 21, 2018
Oklahoma Farm Bureau President Rodd Moesel Speaks Out Against Upcoming State Question 788
We caught up yesterday with Rodd Moesel, president of the Oklahoma Farm Bureau, during a meeting of leaders from Oklahoma's medical, business and faith communities - all who are united in their collective opposition of State Question 788.
If this ballot initiative passes on June 26th, the use of marijuana will become legal in the state of Oklahoma. While this proposed measure does not necessarily condone the recreational use of marijuana, Moesel says the language is so weak, it essentially amounts to that.
"Our members have made it real clear that they are against the legalization of marijuana," Moesel said referencing the organization's grassroots structure that ultimately made the decision on how OKFB should approach this controversial issue. "Many of our members are very compassionate about medicinal needs and we are one of the leading groups working for the industry on hemp. But, our members very clearly drew a line with marijuana."
OKFB announced its alignment with the SQ-788 is Not Medical Coalition last week, making a statement about its concerns for this measure's potential impact on rural Oklahoma. Moesel took the opportunity to explain these concerns in speaking with us yesterday.
He pointed out that on the farm or ranch, it is commonplace to find one's self operating heavy equipment or handling unpredictable and potentially dangerous livestock. Moesel says he is concerned for the safety of both owners and their hired hands in this situation emphasizing that such a workplace is no environment for someone not in total control of their faculties.
Again, Moesel reiterates that OKFB is not exclusively against marijuana, believing it might serve a purpose as a medicinal remedy for certain ailments. That said, Moesel asserts SQ-788 does not adequately define this position and he encourages Oklahomans and OKFB members to vote 'NO' on June 26th.
Listen to Moesel explain OKFB's stance on this initiative for yourself, by clicking here.
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.
|Game ON- Reconsideration of HR2- the 2018 Farm Bill in the House- Set for Today
Farm Bill followers have been watching the daily email from House Majority Leader Kevin McCarthy for any clues about the possible reconsideration of the failed 2018 House Farm Bill, which went down to defeat 198 to 213 a month ago.
Last night at 10 pm central- the McCarthy email landed in our inbox and Chairman Mike Conaway is going to get another bite at the apple later today.
Here are the three items on the agenda for today in the US House-
H.R. 4760 - Securing America's Future Act (Closed Rule, One Hour of Debate) (Sponsored by Rep. Bob Goodlatte / Judiciary Committee / Homeland Security Committee)
H.R. 6136 - Border Security and Immigration Reform Act (Closed Rule, One Hour of Debate) (Sponsored by Rep. Bob Goodlatte / Judiciary Committee / Homeland Security Committee)
Complete Consideration of H.R. 2 - Agriculture and Nutrition Act of 2018 (Structured Rule) (Sponsored by Rep. Michael Conaway / Agriculture Committee)
The first two are the immigration bills which have been elevated to the highest levels because of the furor over separation parents who illegally entered the country from the children who accompanied them across the US border- the third item is the Farm Bill- we should expect the Farm Bill vote to be sometime mid to late afternoon in the House.
The process to get approval on a final Farm Bill for 2018 continues to progress, still with a lot unknowns regarding what exactly is in the Senate's version of the bill recently passed out of committee - that according to Colin Woodall of the National Cattlemen's Beef Association's DC office. The fact that the bill was passed through as quickly as it did and without industry input into some of the amendments included in the proposal has prompted some cautious concerns from Woodall and the NCBA.
"When you look at the Senate Farm Bill - one, it surprised a lot of us old hands in the Farm Bill world, because it was only about four hours worth of markup and they were done. That is a process that usually goes into the night," Woodall said. "I think for us, we were extremely concerned in that even after the Farm Bill was passed, there were provisions that we had yet been able to see language on. So, from a process perspective that's not good and it does not make us happy. So, there may be some surprises in there that we are not aware of."
Going into the markup session, Senate Agriculture Committee Chairman Pat Roberts had made a Manager's Amendment including in total 66 changes to the draft proposal and Woodall says on top of that an en-bloc amendment was made as well. Given that the public still has not been privy to all that is in this bill has forced Woodall to take what he says is "tepid" support for the bill, yielding to veteran knowledge that in DC the devil is in the details. Overall though, based on what he does know for sure, he is fairly pleased with. One significant detail is of course the permanent authorization of a Foot & Mouth Disease vaccine bank for the livestock industry. However, he complains that while the Senate leaders offered authorization to carry the project out, they gave no real funding to see it through. However, nothing is certain until the House produces its own version of the bill and the two bodies meet in conference committee to hash out a final bill.
"So, it is shaping up to be an interesting fight between the House and Senate when it comes to a conference, because these are two radically different bill right now," he said. "We know that the Chairman is whipping and whipping hard. Hopefully that will give the Chairman enough (votes) to get it through the Floor and prepare for a conference committee with the Senate."
Listen to Woodall and I discuss the latest progress being made on the process to approve a 2018 Farm Bill and what concerns he has about it, on yesterday's Beef Buzz - click here.
CME Group Ag Futures, Options Surpass 10 Million Contracts Open Interest, Reach All-Time Record
The CME Group announced Wednesday a laundry list of record achievements set earlier this week that highlight a robust futures market in current trade. According to the CME, Tuesday trade ushered in an all-time daily open interest record of 10,054,696 agricultural futures and options contracts for June 19, 2018 eclipsing the previous record of 10,042,694 contracts, set on June 15, 2018. In addition, an all-time daily volume record was also reached in which 3,197,646 total agricultural futures and options contracts traded on June 19, surpassing the previous record of 3,002,818 contracts set on April 4, 2018.
As a result of these explosive numbers, four other records were set Tuesday in some of the sub-categories of trade including the number of contracts traded for Grain and Oilseed options which saw its last record set in 2015. Records were also set in corn options, large open interest holders and the combined ag futures and options contracts traded outside of US trading hours reached its second highest level in 2018, thus far.
Year-to-date, CME Group agricultural futures and options average daily volume has increased 23 percent to 1.6 million contracts per day. Additional information about CME Group's agricultural products and this week's record setting trade, can be found here.
Non-Profit Group Says Over 2,800 Retailers to Offer E15 by 2021 in Report Touted by Growth Energy
Growth Energy this week is touting a recent report on the efforts of a nonprofit organization known as Prime the Pump, which is dedicated to helping build the infrastructure and distribution of higher biofuel blends, to give more and more Americans the choice of E15 at the pump. According to this report, more than 2,800 retail sites are projected to offer E15 for sale as early as 2021.
For those of you doing the math - that's equals out to approximately 350 million additional gallons of ethanol that will need to be generated annually. Growth Energy is calling the efforts of Prime the Pump an "immense success" for corn and ethanol industry stakeholders.
"Thanks to the hard work and generosity of participants in the Prime the Pump program, American consumers can purchase E15 at more than 1,400 locations across 29 states," said Growth Energy CEO Emily Skor. "American drivers have logged more than 4 billion miles on E15, because when we give them a better option, consumers are choosing E15 again and again."
Despite the obvious success, though, Skor points out that the achievements made so far are at risk of losing the momentum that has been built if the industry does not find relief from the limiting issues related to Reid Vapor Pressure (RVP). She says if those issues are ever resolved, it will unleash E15's full potential and allow the industry to expand and capture all 7 billion new gallons of potential ethanol demand.
Click here to read more about this report and the insights it offers on the ethanol industry.
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!
Veteran Cattle Feeder Lee Borck Says Grid Marketing Cattle is Like Supplying Premium Automobiles
This week, Certified Angus Beef released a story over Manhattan-based, Kansas cattle feeder and chairman of Integrated Livestock Systems and the Beef Marketing Group Cooperative Lee Borck, who in the mid-1990s saw the first value-based grid markets and realized - it was like a past generation of new car buyers and sellers.
Back then, buying a car was pretty simple. Some of you reading this might remember... You had a limited selection of maybe a few different models that you could buy from a dealer at a base price. Beyond that, you added-on options (i.e. air conditioning, floor mats, etc.) for an a-la-carte price. When he encountered grid marketing for the first time, it occurred to Borck, that it was essentially the same concept as selling premium cars.
"That's the way we approach selling cattle," he said in his interview with CAB. "Cash is a base index, that's average. That's your Plain Jane auto."
So, for example, if packers wanted better-than-average grade cattle, they needed to pay a premium. This much for more marbling, this much for leaner carcasses. With DISCOUNTS if the cattle got too fat. But while that may seem pretty easy - Borck says it was never quite as cut and dry as all that.
While that might sound like producing premium beef became very routine, it has never been cut and dried, or as simple as those driving economics.
"It took years for us to really figure out how to be efficient at what we were doing," he remarked, "almost a lifetime's worth of work to be able to get to where you're fairly comfortable. But even today, it's not an exact science."
You can read more about how Borck and his network of allied feedyards continue to innovate and respond with ever greater precision to the consumer demand for premium beef - or watch a short video clip of Borck's interview, by clicking over to our website.
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|Food Nostalgia Does Not Make Us More Sustainable- Sara Place Weighs In
Former Oklahoma State University Animal Science Professor Dr. Sara Place is now the lead on Sustainability for the National Cattlemen's Beef Association- and she has penned an article on how the beef business is more sustainable today than in the years gone by- here's a bit of her commentary:
"We have a grand challenge ahead in the next three decades. Our global population is projected to increase by 2 billion, yet we will not have an appreciable increase in agricultural land. Our challenge is to nourish a global population of increasing affluence without degrading the earth's resources or compromising the success of future generations.
"Key to this effort is doing more with less, or improving the productivity of agriculture. Over the past several decades, both plant and animal agriculture in the United States have made gains in improving outputs, such as beef production or corn yields, per animal and per acre. Many times, these improvements are beneficial to all or both commodities. For beef, improvements in the productivity of crops used as feeds for cattle, such as corn, have reduced the land requirements to produce beef.
"For example, the acres of harvested corn grain required to produce grain-finished beef cattle has declined 46 percent over the past four decades due to improvements in corn yields per acre. Additionally, we're able to produce 9 percent more beef with 29 percent fewer cattle due to improvements in cattle genetics, cattle nutrition and health, and the use of technologies from herd management software to vaccines. Productivity improvements in plant and animal agriculture work synergistically to reduce input requirements for producing food. As a result, U.S. beef's carbon footprint is 10 to 50 times lower than beef produced in other regions of the world."
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