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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.
1,187 head of cattle on their showlist for the Wednesday,
July 25th sale of finished
OKC West sold slaughter cows mostly steady to 5.00 higher on a lighter test and
slaughter bulls 1.00-3.00 higher on a very light test on Monday compared to last
Oklahoma National Stockyards had a light run of 4,500 on Monday- yearlings were Steady to $2 Higher- Calves Not Well Tested But a Higher Undertone Noted- Click or tap here for the complete report from USDA.
Joplin Regional Stockyards had receipts of 5,227 with higher Calf and Yearling prices on Monday- Click or tap here for their complete report.
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
Tuesday, July 24, 2018
Summer Crops Continue On With Steady Progress as Pasture and Range Conditions Slide Again This Week
The US Department of Agriculture released Monday, July 23, 2018 its latest Crop Progress report according to which the US corn crop is denoted as being 81 percent complete in the silking stage, well above both last year's 63 and the five-year average of 62 with corn dough at 18 percent complete nationally and a crop condition currently of 9 percent poor to very poor, 19 percent fair and 72 percent good to excellent, unchanged from the week before. The US soybean crop is also ahead of normal pace at 78 percent blooming, above last year by 11 and the average by 15 points. Setting pods is at 44 percent this week, 17 points ahead of last year and 21 points ahead of the average. Soybean's condition this week rates at 8 percent poor to very poor, 22 fair and 70 percent good to excellent.
Click or tap here to view the complete USDA Crop Progress report, released Monday, July 23, 2018. Meanwhile across our three-state region, in Oklahoma this week, sorghum headed reached 40 percent, up 5 points from the previous year and 8 above the average with its condition this week rating at 9 poor to very poor, 46 fair and 45 good to excellent. Soybeans blooming reached 39 percent, up 17 points from the previous year and 21 above the average with a current condition of 11 poor to very poor, 38 fair and 51 good to excellent. Cotton setting bolls reached 30 percent, up 10 points from the previous year and up 8 points from normal with its condition rated this week at 45 poor to very poor, 40 fair and 15 good to excellent.
For the full Oklahoma Crop Progress report for this week, click here.
In Kansas, sorghum condition rates 1 percent very poor, 5 poor, 31 fair, 57 good, and 6 excellent. Sorghum headed is at 21 percent, ahead of 10 last year and 11 average. Meanwhile, soybean blooming is at 74 percent complete, 15 above last year and better than normal by a whopping 27 points. Soybean's condition this week rates 18 poor to very poor, 36 fair and 46 good to excellent.
For the full Kansas Crop Progress report for this week, click here.
And across Texas, dryland cotton struggled with the heat and lack of moisture this past week with boll worms detected in North East Texas and harvest getting underway in the Lower Valley. Meanwhile, corn and sorghum harvest continues across the state. Cotton setting bolls is at 29 percent, better than both last year and the average by 4 points. Cotton's condition rates 20 good to excellent, 31 fair and 49 poor to very poor. Sorghum headed this week rates 87 percent, coloring at 66, mature at 56 and harvested at 44 percent compared to 37 last year and 29 the average. Sorghum condition rates 25 good to excellent, 40 fair and 35 good to excellent.
For the full Texas Crop Progress report for this week, click here.
The good to excellent spread of pasture and range conditions here in the Southern Plains have slipped again this week, across the region. Comparing this week to last, we see an 11-point drop in the combined good to excellent rating with this week at 37 percent and last week at 48 percent for Oklahoma. Kansas rates at 28 percent good to excellent this week, just a 1-point difference from last week's 29 percent combined rating. Texas, however, dropped 7 points this week compared to last week at 21 percent good to excellent, next to last week's 28 percent. Arizona remains at the bottom of the national comparison with a poor to very poor rating of 89 percent, currently. The nearest state beyond that is New Mexico with 69 percent of its rangeland rated poor to very poor, followed closely by Missouri at 67 percent.
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China's Beef Industry Holds Great Potential But Continues to Face Developmental Challenges
Over the past few week's OSU Extension Livestock Market Economist Dr. Derrell Peel has been sharing with our readers his experiences travelling across China and exploring the nuances of the country's agricultural industry. He continues that discussion with us this week in his article included in the latest Cow/Calf Corner newsletter. This week, Peel delves a little deeper into the Asian nation's beef production.
"According to estimates from the USDA Foreign Agricultural Service, China is the fourth largest beef producing country in the world behind the U.S., Brazil and the European Union. 2018 Chinese beef production is estimated at 7.3 million metric tons, 58 percent of projected U.S. beef production of 12.4 million metric tons. China has an estimated total cattle herd of 96.85 million head in 2018, slightly larger than the current U.S. herd of 94.4 million head.
"The bulk of cattle production consists of an assortment of native beef breeds, known collectively as Yellow cattle, concentrated in the North China Plain, the northeast and the extensive grazing lands of the northwest. The Chinese cattle industry also includes yak production on the high Tibet plateau in the southwest and water buffalo production in the south and southeast."
Peel explains that most of China's herd, roughly 70 percent, is made up of Yellow cattle with a small, but growing, use of European breeds in place of native cattle; crossbreeding of Yellow cattle and imported breeds; and development of composite breeds of Yellow cattle and European breeds. Peel says much of the industry seems a little anachronistic, based largely on traditional practices. The industry has also received little investment from the government to help it modernize, especially compared to pork and poultry there. However, Peel insists the industry holds tremendous potential for growth. However, that opportunity is equally matched with its share of challenges.
"Beef production has the greatest potential to expand in the major agricultural regions of central China where use of resources for cattle production will compete with increasing demand for crops and other agricultural production to meet relentlessly growing food demand in China. The drier, extensive grazing areas of the west and northwest face less competition from other agricultural production but are inherently limited by climate and productivity of the land and suffer from degradation of some grazing areas. Exactly how much and how fast beef production in China will grow will depend on beef demand in the country."
Read more about Peel's trip and his insights into China's beef industry, by clicking here. Stay tuned for next week's article, which Peel says will focus on China's consumption of beef and its growing rapidly growing rate of beef imports.
Federal Bank of Kansas City Reports That Large Loans for Livestock Drive Uptick in Farm Lending
The Federal Reserve's Agricultural Finance Databook says lending activity in the agricultural sector increased slightly in the second quarter of 2018. The overall number of non-real estate farm loans was roughly two percent higher than at the same time in 2017. The slight increase was supported primarily by larger loans for livestock.
In the short term, The Kansas City Fed says higher livestock prices were likely responsible for the increased size of livestock loans, at least in the short term. Looking longer term, the size of livestock loans has been trending higher, suggesting that farm consolidation has contributed to fewer and larger farms with larger lending needs.
Increased lending for farming operations comes as the overall risk in the ag sector is increasing. Adjusted for inflation, livestock loans reached a historical high point in the second quarter, while the volume of farm machinery and equipment loans shrank to the lowest second-quarter level in three years.
Expectations of larger supplies and trade disputes have contributed to sharp declines in most of the major commodity prices through the month of June.
To learn more, read the full story on our website by clicking here.
On Friday of last week, July 20th, the USDA released the monthly Cattle on Feed report. Upon its release, we caught up with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel, for his analysis of the numbers. According to him, the July Cattle on Feed report fell right in line with average industry pre-report estimates.
June placements were 101.3 percent of one year ago, the largest June placement total since 2006. June feedlot marketings were 100.9 percent of last year, the largest June marketing total since 2011. June 2018 had one less business day compared to 2017. The July 1 on-feed total was 11.282 million head, up 4.3 percent year over year.
"So, we continue to hold that year-over-year advantage, but it's not going up," Peel said. "In fact, we've pulled it down since the early part of the year, when we had about an 8 percent year-over-year Cattle on Feed inventory in the last couple of months. Now, we're holding at this 4... little bit over 4 percent year-over-year increase."
While this report came in very much in line with expectations, Peel says some of the pre-repot estimates of placements were wide-ranging with some market watchers anticipating a significantly larger number. For those people, Peel says this report's placements may be a bit of a surprise on the downside. But overall, he believes the market should not react in any negative way and may on balance be a little friendly to this report.
"The numbers are still bigger, but they are beginning to moderate a little bit," he said. "So, we're staying up with this increase in supply - is the way I read that."
Listen to Peel and I discuss the outcome of the USDA's latest Cattle on Feed report published at the end of last week, and what impact it will have on the market, on yesterday's Beef Buzz - click here.
Learn More about the Beef Checkoff
The Oklahoma Beef Council (OBC) has moved to a monthly e-newsletter packed with information about your Beef Checkoff and activities on a state, national and international level. In the July issue, learn more about the Cowboy Ninja Warrior, Beef and a Mediterranean diet and OBC outreach to chef influencers. Click here to learn more.
Producers Urged to Make These Disease and Insect Considerations Before Planting Their Fall Wheat
The 2018-19 winter wheat crop planting season is just around the corner. In anticipation of this, OSU Plant Pathologist Bob Hunger and Entomologist Tom Royer put together a few suggested consideration producers might want to think about as they prepare to sow their wheat fields - especially if they intend to use them for dual purpose graze and grain use.
The first thing on their list, is of course the planting date at which a farmer hopes to get their wheat in the ground. This is one of the keys to a successful year, which can truly affect the outcome of your crop.
According to Hunger, "Planting wheat early significantly increases the likelihood that diseases and insect pests such as mite-transmitted viruses, the aphid/barley yellow dwarf complex, root and foot rots, and Hessian fly will be more prevalent and severe."
Choosing the right seed treatment is also an important decision to make for a wheat producer. Hunger and Royer insist there are several reasons to plant seed wheat treated with an insecticide/fungicide seed treatment. Doing so, they say, will help producers control bunts and smuts, including common bunt (also called stinking smut) and loose smut. In addition, a farmer can expect to enhance their seedling emergence, stand establishment and forage production.
Treatments with an insecticide formula are also useful for early season control of the aphid/BYDV complex and helps suppress early emerging Hessian flies.
For Oklahoma producers it is also important to control foliar diseases like leaf rust and powdery mildew. Seed treatments are again useful in this respect. For more information on steps you can take to get out in front of your plant disease and pest problems this year before planting season arrives, click here to read the complete report by Drs. Hunger and Royer.
Oklahoma Cattlemen's Association Honors Its Legislative and Allied Industry Supporters
Each year at the awards banquet held in conjunction with their annual convention and trade show, the Oklahoma Cattlemen's Association always takes time to recognize and thank those who help them accomplish their goals throughout the year. This year, the OCA expressed their gratitude to four state legislators for their individual efforts in advocating on producers' behalf at the State Capital.
Those four gentlemen included Representatives Jon Echols, Kevin Wallace, Scooter Park and Senator Casey Murdock, who were presented with the OCA's 2018 OCA Legislative Appreciation Award.
"We are fortunate to have many friends in the Oklahoma legislature who know and value the importance of agriculture and specifically the beef cattle industry," said Weston Givens, OCA President. "We are so excited to honor (them) with this award."
Each of these policy leaders worked in some outstanding way during Oklahoma's recent legislative session to protect the rights and interests of farmers and ranchers in the state - from protecting Oklahoma's Agriculture Sales Tax Exemption to preserving private property rights.
You can read about each of their specific contributions to the ag industry in Oklahoma, by clicking over to our webstory for more information.
To OCA's credit, the association's supporters aren't just limited to individuals. The organization and its members are also able to rely on the help of Oklahoma's business community as well. One of their most staunch supporters over the years, has been the Lazy E Ranch - which has been home to OCA's Range Roundup for many years. To show their appreciation for all those year's of cooperation that have helped the association raise thousands in charitable funding for children in need, the OCA presented the arena's management with its Allied Industry Award.
"It is such a joy to work with Lazy E, the McKinney family and Dan and his great crew," said Michael Kelsey, OCA Executive Vice President. "They are professionals of the highest degree with a passion for cattlemen and women along with a great big heart for the Children's Hospital Foundation. I just can't imagine the OCA Ranch Rodeo at any other facility."
Click here to read more about the Lazy E and its involvement with the association over the years.
Kolby Griffin and Jacie Cantrell Take Top Prizes at OKOGA's 2nd Annual STACK Summer Classic Pig Show
Last year, Oklahoma's oil and gas industry came together to sponsor a new pig show for youth in what the industry calls the STACK region of Oklahoma. Spearheaded by the Oklahoma Oil & Gas Association, this community outreach event proved to be such a great success, the organization returned this year to do it again.
"Young people who dedicate their time to raising animals are important to Oklahoma's future," OKOGA President Chad Warmington said. "Whether they stay in agriculture or join the energy industry, the lessons they learn will serve them well. The people of the energy industry are proud to help celebrate their success."
Earning top honors at this year's show was Kolby Griffin of Paul's Valley and Jacie Cantrell of Ripley.
Griffin won the $1,000 grand champion prize, and Cantrell won the $500 reserve grand champion prize at the Kingfisher County Fairgrounds. More than 100 competitors displayed 300 pigs and shared $10,000 in cash awards and prizes.
Winners who raised breed champions also received cash prizes and gifts such as YETI coolers. Congratulations to all the participants in this year's show!
Click here to learn more about this show and Oklahoma's oil and gas partners that made it possible.
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