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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
Friday, July 20, 2018
66th Annual Oklahoma Cattlemen's Association Convention & Trade Show Kicks Off Today
The Oklahoma Cattlemen's Association kicks off its 66th Annual Convention and Trade Show this morning at the Embassy Suites Convention Center in Norman with keynote speaker Duane Lenz of CattleFax presenting during the 9:00 a.m. joint opening general session.
The focus of this year's program is all about the business side of the cattle business, featuring five Cattlemen's College sessions covering an array of business oriented subjects presented by industry experts. In addition to a variety of association business meetings that you're sure to want to take part in - the OCA is also proud to host Oklahoma GOP gubernatorial candidates Mick Cornett and Kevin Stitt. Yours truly will moderate the special forum on Saturday afternoon, during which time the two candidates will be able to address the important issues facing Oklahomans currently and what they would do to address them if they win the GOP race in August and go on and win the November general election.
Plus, you won't want to miss this year's trade show that is bigger and better than ever.
Saturday's events will wrap up with the annual awards banquet followed by the Cattlemen's Jukebox and dessert social.
Come and join in all the fun, fellowship and important educational opportunities this year - click over to the calendar page on our website to find more information on this year's program schedule. We'll see you there!
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.
Heat Dome Over Oklahoma Doing Little to Help State's Expanding Drought Situation This Week
Oklahoma's recent heat advisory this week has done little to help the expanding drought situation in the state, according to State Climatologist Gary McManus in his latest Mesonet Ticker newsletter. Currently, Oklahoma is facing the intensifying drought on three fronts, from the northeast, the southeast and across to the southwest parts of the state.
The forecast for the coming week offers no help in improving the situation, calling for more above normal temperatures and below normal precipitation. That pattern is expected to continue into October, which does not bode well for the outlook on drought, particularly for the eastern half of the state.
According to this week's Drought Monitor, only minor changes have been reported although for the worse. Severe Drought in the state rose nearly three points since last week from 26.91 to 29.51 percent and Extreme Drought climbed just moderately from 8.81 to 9.04 percent.
Click here for a closer look at this week's Drought Monitor Map or to read this week's Mesonet Ticker newsletter in full.
|Kim Anderson Addresses Oklahoma's Changing Price/Planting Relationships Among Our Major Crops
Looking back over the better part of the last decade, wheat has not been near as profitable as other crops. As the crop's profitability have continued to leak away, farmers have gradually turned toward other options in search of more economically sustainable conditions. That fact is reflected in the numbers as reported by the USDA, which OSU's Kim Anderson breaks down in this weekend's episode of SUNUP with host, Dave Deeken.
This is evident enough in consideration of just one year ago when producers planted 4.5 million acres of wheat which dipped slightly again this year by 100,000 acres to 4.4 million acres. To put that into perspective, wheat's average planted acres in Oklahoma has been roughly 5.1 million acres, but again have fallen due to pressures from lack of profitability.
Given production in Oklahoma, the impact that these adjustments have had on the price of wheat, Anderson says is largely insignificant. However, when considering the broader impact that price relationship has had on other commodities, we can see a ripple effect.
Anderson says the price of corn has been on a steady decline for several months now, having fallen near a dollar to about $3.20 currently. Sorghum is nearby that at $3.25 depending on the location. Soybeans have become subject to heightened volatility and speculative talk, partially due to a record year for soybean production but also trade tensions and tariffs from China. USDA in its latest World Agriculture Supply and Demand Estimates report brought the price of soybeans down from right at $10 to $9.25. Cotton, however, seems to be the crop offering the most profitability, currently at $0.884 on the December contract with a projected price for next year by the USDA at $0.75. But, to earn that price, Anderson warns farmers must first get good production out of their crop.
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.
American Pecan Council's New Executive Director Alex Ott Says Pecan Industry has a Bright Future
We had the chance to speak with the American Pecan Council's newly hired executive director earlier this week in Texas, during the Council's recent board meeting.
Alex Ott is the APC's first executive director and brings with him an extensive background working with federal marketing orders. Having just been on the job for three weeks now, Ott is still working to get his arms around this relatively new organization, but according to him, growers have a very bright future ahead of them with this great new tool to help them promote their product.
"We are going to bring everybody together with one common goal and that is to move as many pecans as we can for a great price," he remarked. "I think at the end of the day, if we're all doing that together, we're going to be moving in a great direction and have a great future.
"It's time to let everybody know that pecans are at the table and we've come to play. We're here to provide a wholesome, nutritious, high-quality nut. It's time we start to showcase that."
Prior to joining the American Pecan Council on July 1, 2018, Ott served as Executive Director of the California Apple Commission, the California Olive Committee and the California Blueberry Commission. Since then, he has relocated from California to Texas to lead the APC. Click here to read more about Ott and his new role with the APC and listen to our complete conversation.
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!
All Eyes on Placements this Friday as Industry Anticipates USDA's Release of Cattle Inventory Reports
This Friday, the US Department of Agriculture will release in tandem both the monthly Cattle on Feed Report as well as the Midyear Cattle Inventory Report. Dr. Lee Schulz of Iowa State University offered a brief pre-report analysis of the industry's expectations for the data in these reports and he suspects that as is often the case with these reports, all eyes will be primarily on the number of placements recorded.
"I think they're expected above a year ago. We've seen larger feeder cattle imports from Mexico and Canada and really stronger feeder cattle receipt activity," he said. "So, I think we're seeing those cattle enter feedlots. Some of that is weather related and dry conditions in some areas is pushing it into the feedlot at somewhat lighter weights."
Regarding cattle marketed, Schulz believes the industry will be at roughly year-ago levels, mostly due to June having one less slaughter day this year, which he estimates will bring the total cattle on feed number to around 4 or 5 percent above a year ago. He notes that if any surprises were to come from this report, it would be in that placement number which he adds has thrown some analysts for a loop over the last few months. The results of this report cycle, he thinks will be somewhat bearish - not for the current market - but, rather deferred markets. And with herd expansion noticeably slowing, Schulz says he wonders just at how fast a rate it actually is decelerating or even all but stopped at this point. He says the Midyear Inventory report will offer a glimpse at the larger picture of this cattle market at present and how it will develop over the balance of the year.
"I think we're going to see numbers, especially for heifers for beef cow replacements be lower than a year ago, just because they were so high the last several years," he said. "Beef cow numbers are still likely to be higher than a year ago, as really culling rates haven't caught up yet. But, the number I think a lot of us are going to be watching is that feeder cattle outside of feedlots. That gives us an indication of what hasn't entered feedlots yet. That number I think could really play into what this fall feeder cattle market really does look like."
Listen to Schulz offer his thoughts about the upcoming cattle inventory reports, on yesterday's Beef Buzz - click here.
Pace Mittlestaedt of Amber-Pocasset FFA Named Winner of OKFB's 2018 YF&R Discussion Meet
Pace Mittlestaedt of the Amber-Pocasset FFA Chapter was named the winner of the 2018 Oklahoma Farm Bureau Young Farmers and Ranchers High School Discussion Meet held this week during the Oklahoma State University Big Three Field Days in Stillwater.
As the contest winner, Mittlestaedt earned a $1,500 college scholarship from OKFB YF&R. The other top four finalists included Rio Bonham of Madill FFA, Cade Jenlink of Timberlake FFA, and Jaycee Shelburne of Durant FFA each earning $1,000, $500 and $250 college scholarships, respectively.
The event is designed to help students build basic discussion skills, develop an understanding of agricultural issues, and encourages groups to pool their collective knowledge to find solutions.
To learn more about this contest and OKFB's other YF&R programs, click here.
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|Kingfisher FFA Tops Big 3 Judging Overall Results
FFA and 4-H members from Oklahoma and three other states were at the top of the Overall Results announced on Thursday afternoon at the Big 3 Livestock Judging Contest- the number one team after three days of judging sheep, beef and swine was the number one team from Kingfisher FFA- they ended up 18 points ahead of the second highest team in the Senior FFA Division and across all four divisions- the Adair, Oklahoma FFA Chapter.
High ranking Senior 4-H team came from Illinois- the Christian County, Illinois 4-H squad- they were thirty points behind the Kingfisher team.
High ranking teams in the junior divisions included Grove FFA and Sterling, Texas in the 4-H Junior competition.
Three individuals ended up scoring 998 points over the three days- top Senior 4-H winner Daniel Goodwin of Kay County, Oklahoma 4-H- and Brantlee Cox of Morrison FFA and Colt Jones of Pauls Valley FFA (Brantlee won the tie breaker in the Senior FFA Division to claim high individual for the Blue and Gold.
If you want to check out how your team did- you can click or tap here to get over the overall results as posted on JudgingCard.
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