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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.
FedCattleExchange.com has a total of 306 cattle on their showlist for the Wednesday, June 26th sale of finished cattle- details will be available after noon today by clicking here.
Steer and heifer calves calves sold mostly 2.00-4.00 lower Tuesday compared to last week due to limited receipts at OKC West
- click or tap here
for a look at the June 26th sale results.
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
Wednesday, June 27, 2018
Now Where Did I Put That Phone Number for Mike Schulz- and Other Election Night Thoughts To Share
The power of the people- including a lot of folks who would never vote otherwise- especially in an election set aside for a primary- was very evident last night as supporters of State Question 788 pushed aside the naysayers and those that will have to deal with the marijuana use issues- and approved the "Medical Marijuana" Statue with 57% of the vote.
It was pointed out last night on social media by Matt Boyer that far more people voted on 788 than did on the headline race of the night- the Governor's race- about 850,000 voted for a candidate for the Governor- 890,000 people weighed in making Pot legal in the state. As Matt said- "the Priorities of some people?"
After that was settled- Governor Mary Fallin was likely looking for the phone number of Altus farmer Mike Schulz, who for the balance of 2018 is the Senate leader in our state- as she considers a special legislative session quickly to deal with all the holes pointed out by the medical community and others with what Governor Fallin has described a "loosely written proposal."
You can say what you want- but the likely result of 788 unless it is redone by lawmakers is that we have a backdoor recreational marijuana bill that in 30 days will be the law of the state of Oklahoma.
Beyond 788- we have at least seven state races that were not finished last night- and will continue on to the runoff at the end of August- that's a long time to see and hear political claims on the air and alongside the byways- among those runoffs-
GOP Governor- Lt Gov Todd Lamb faded away last night and Kevin Stitt grabbed bridesmaid honors and will face former OKC Mayor Mick Cornett for the right to face former AG Drew Edmondson, who claimed the Democratic nomination and will be a serious challenge to whoever wins the GOP nod. Wonder how many dollars Drew's friends at HSUS will pour into the state between now and November as a thank you for his work on State Question 777?
GOP Lt Gov- Corporation Commissioner Dana Murphy grabbed 46% of the votes while Matt Pinnell placed second- leaving the candidate many in agriculture supported, State Senator Eddie Fields, in distant third.
GOP Attorney General- Mike Hunter, who stepped into the job after Scott Pruett headed to the Trump Administration as EPA Head- picked up about 44.5% of the vote- and will be facing second place finisher Genter Drummond in the runoff- This was the nastiest race of primary cycle- and I would guess that continues til August.
As for the other races- click here for the official vote counts of all the races of last night- front to back.
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Chairman Roberts Challenges His Colleagues on the Senate Floor: "Let's Get This Farm Bill Done"
The Senate early this week showed large support for the farm bill, or at least debate on the bill. The procedural cloture vote Monday passed easily, 89-3. Senate Majority Leader Mitch McConnell says the chamber has the opportunity to finalize this bill this week.
Senate Agriculture Committee Chairman Pat Roberts spoke on the Senate floor Tuesday, calling the legislation "the best bill possible under these circumstances." He says the goal of the farm bill is to provide agriculture "certainty and predictability during these very difficult times," referring to the depressed farm economy.
The bill is expected to soon enter the amendment process on the Senate Floor. Roberts will allow consideration of Senator Chuck Grassley's farm payment limits amendment. The lack of the amendment in the committee-passed bill prompted Grassley to be the lone vote against the legislation at the time.
Click here to for more of the Chairman's remarks during his address from the Senate Floor regarding the Farm Bill.
NCBA's Kent Bacus Condemns the Folly of Trade Wars- Says American Consumers will Ultimately Pay
It was right at a year ago today when the US cattle industry was celebrating US beef being sold into China legally for the first time since the Cow That Stole Christmas and BSE. Kent Bacus with the National Cattlemen's Beef Association was there representing the US cattle industry in Beijing for that celebration. A year later, he says we are now looking at a market that is very uncertain because of the 25 percent tariff that China will levy on imported US beef, effective July 6th, due to the tariff war unfolding between the Chinese and the Trump Administration. This tariff, Bacus says, is actually on top of other levies that the Chinese government had already put in place that the industry has managed to live with all along. This additional 25 percent though just makes the economic burden too much to bear.
"Businesses in China are saying, 'Look - we don't want to pay that tariff,' and so they're cancelling orders," Bacus said. "And, it's not just beef being impacted by this."
He explained that pork, too, is feeling the pressure of tariffs. That's bad news for beef producers, Bacus says, as pork is one of beef's main competitors in all major export markets and domestically as well. When one feels pressure from the market and the situation becomes difficult in regard to moving product, Bacus explains that pressure is transitively felt by the other when displaced product starts to move into already saturated markets and increases competition throughout.
"So, there's a lot of uncertainty out there and the we're not alone in the meat sector. The rest of ag is pretty nervous about this and really the US economy in general," he remarked, attempting to explain the folly that a trade war can create. "Ultimately, we need to make some consumers have access to the products they want. Because, really at the end of the day, it's the American consumer that's going to have to pay the price for all these tariffs."
Listen to Bacus speak with us about the folly of trade wars and the general feelings of the ag industry regarding the Chinese market currently, on yesterday's Beef Buzz - click here.
EPA Proposes Increase in RVO Announcement - Biofuel Groups Less Than Enthusiastic
The Environmental Protection Agency is proposing an increase in the total renewable fuel volume to 19.88 billion gallons, up from the 19.29 billion expected gallons. However, biofuels groups say the proposal falls short of damage done to the Renewable Fuel Standard from hardship waivers granted to refiners.
The proposed conventional biofuel amount of 15 billion gallons maintains the level set for 2018. The proposal also calls for 4.88 billion gallons of advanced biofuel, including 381 million gallons of cellulosic biofuel and 2.43 billion gallons of biodiesel for 2020.
The National Corn Growers Association says: "what's not included in EPA's proposed rule says more than what's included."
Growth Energy CEO Emily Skor says the conventional biofuel amount from ethanol, "isn't a real number we can count on." Skor says by neglecting to reallocate gallons lost to waivers, the EPA is "doubling down" on another year of demand destruction.
"It would seem a hollow and cynical exercise to praise or thank EPA Administrator Pruitt for appearing to follow the statute with this proposed RVO," stated Renewable Fuels Association President and CEO Bob Dinneen. "While we acknowledge that the implied 15-billion-gallon requirement for conventional biofuels like corn ethanol should, in theory, send a positive signal to the market, it comes with the backdrop of 1.6 billion gallons of demand destructed by illegal waivers to small refineries and no commitment that EPA is changing its approach to granting these exemptions."
Americans for Energy Security and Innovation Co-Chairs Jim Talent and Rick Santorum urged the EPA to boost the proposed 2019 biofuel targets proclaiming in a joint-statement: "Right now, it is vital that Administrator Pruitt stop delaying action on the president's pledge to lift outdated, seasonal regulations on E15 during the summer. Taking this action will help to expand growth opportunities for U.S. farmers, hold down surging prices at the fuel pump, and even reduce the cost of biofuel credits for refiners that refuse to blend biofuels. Competition at the pump is good for consumers and good for our energy security. There's no reason to hold E15 hostage when we could be driving growth in the heartland."
Through the voluntary contributions of Oklahoma's oil and natural gas industry, the OERB has spent over $113 million restoring more than 16,000 orphaned and abandoned well sites across the state at absolutely no cost to landowners. The OERB has restored sites in 71 of 77 Oklahoma counties, cleaning an average of two to three sites each day.
US Wheat Associates Contend the Only Threat from Auto Imports is Retaliation from Trading Partners
The US Wheat Associates took a strong stance against the US Commerce Department, yesterday, responding to the Section 232 investigation into automobiles and auto parts imports. A statement by USW called the investigation's probes "ridiculous" in that they suggest the importation of such commodities are a threat to our national security. Again, USWA argues that the US will again expose itself to further tariffs by its trading partners in retaliation of any restrictions the Trump Administration might deem necessary to equalize international trade agreements.
USW is now urging the Commerce Dept. to consider the "fallout" that might occur if they move forward, implying that the US could face even harsher tariff penalties from its trade partners - particularly its wheat consuming customers.
"As a representative of U.S. wheat farm families who rely on export demand to boost their income potential, USW was among the first agricultural organizations to publicly oppose the use of Section 232 to impose tariffs on steel and aluminum imports," USW stated. "Farmers have already been hit hard by tariffs on hundreds of food and agricultural products in retaliation for recent unilateral trade actions and much more is expected soon."
While the reactions of countries to U.S. steel and aluminum protectionism has been negative for farmers, USW said the case of automobiles is much more dangerous because the dollar figures are so much larger.
"The breathtaking leap of logic required to recommend tariffs on imported automobiles and parts due to their threats to national security suggest that the only plausible reasons for this action are either economic protectionism in violation of our WTO commitments or a negotiating tactic. Use of this statute as a negotiating tactic is an abuse of the authority granted by Congress and economic protection is available through trade remedy laws if the need for protection meets the requirements of the relevant statutes. In either case, the Department of Commerce should find that these imports do not threaten national security."
Click here to read the full story up on our website.
Cost of Grilling for Fourth of July Drops this Year Compared to Last According to New Farm Bureau Report
Just in time for the Fourth of July, the American Farm Bureau released its 2018 Summer Cookout analysis, which revealed an all American cookout for ten people featuring several summer time favorites will cost slightly less this year, coming in at less than $6 per person, or $55.07 total , which is about 1 percent less than last year.
"This is a very tough time for farmers and ranchers due to low prices across the board. It is appropriate that this very painful situation hitting farmers be reflected at the retail level as well," said AFBF Director of Market Intelligence Dr. John Newton. "We are seeing record meat and dairy production in 2018 so that has also influenced retail prices and so, for consumers, this year's Fourth of July cookout costs will be slightly less than last year's."
AFBF's summer cookout menu for 10 people consists of hot dogs and buns, cheeseburgers and buns, pork spare ribs, deli potato salad, baked beans, corn chips, lemonade, chocolate milk, ketchup, mustard and watermelon for dessert.
A total of 96 Farm Bureau members in 28 states served as "volunteer shoppers," checking retail prices for summer cookout foods at their local grocery stores for this informal survey, part of the Farm Bureau marketbasket series. Interestingly, of the $55.07 total... about $8.15 of that represents the farmer's share.
Click here to review more highlights from this report.
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Oklahoma Dept. of Agriculture Honors the Memory of the Late State Board of Ag Member Joe Mayer
The Oklahoma Department of Agriculture honored the memory of Joe Mayer during yesterday's meeting of the State Board of Agriculture. A long-time leader in the cattle industry from Guymon, Okla., Mayer had recently been appointed to serve as a member of the State Board of Agriculture by Governor Mary Fallin.
Before his passing, Mayer had the opportunity to attend his first board meeting in early May. However, he suffered a heart attack on May 26th and eventually expired the following day while being treated at an Amarillo hospital. He was 68.
An Oklahoma flag covered his chair and flowers adorned his nameplate during the meeting among his peers, in fond and respectful remembrance of Mayer and his contributions to the Oklahoma ag industry and the people behind it.
To view the original release about this story from ODAFF, click or tap here to jump over to the article on our website.
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