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mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
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for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
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|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, August 3, 2018
Tyson CEO and President Tom Hayes Sits Down With Yours Truly at Summer Cattle Industry Business Meeting
Tom Hayes, President and CEO for Tyson Foods, was the headliner at the 2018 Summer Cattle Industry Business Meetings as he spoke to the general session held over lunch on Thursday- that brought together everyone participating in the meetings of the week- NCBA, ANCW and the Beef Board.
After the lunchtime talk, I was invited to talk exclusively with Hayes and we discussed a variety of issues- as Mr. Hayes explained the current structure of Tyson after the acquistion of Hillshire Farms, where he was serving in senior management. Hayes explained how Tyson is working to "fully understanding what it takes to get great foods to the plate- but also how to innovate to excite consumers and create brand new products given all the resources that a company like Tyson has."
We also talked about the beef division at Tyson- which holds the largest percentage of dollar sales of all four divisions that make up the company(Fresh meats and Prepared Foods), how important access to the international markets is, the belief that he and the Tyson team have in being sustainable and supporting efforts like the US Roundtable for Sustainable Beef and we talked about the consumer- and how Tyson is positioning their products to meet the demands of today's consumer.
We got into Fake Meat as well- if you would like to hear our conversation- we have posted it on our website and in our Ag Perspectives Podcast series on iTunes- Click or tap here to take a listen.
We have also posted this morning the full presentation that Hayes made to the Summer Cattle Industry meeting- his remarks as well as the Q&A that he had with Kevin Oschner on stage as well. You can take a listen to that by clicking or tapping 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.
A New Day Dawning on Trade Talks with the Land of the Rising Sun? NCBA's Kent Bacus Thinks So
One of the topics dominating discussions here in Denver at the 2018 Cattle Industry Summer Business Meeting is of course trade. We caught up with Kent Bacus, director of international trade and market access for the National Cattlemen's Beef Association's DC office, who shared his knowledge of rumors currently circulating about the possibility that the US and Japan might be considering some bilateral trade agreement talks.
"We're hearing reports there are going to be bilateral trade talks between the US and Japan. Obviously, for us, that is a top priority because Japan is our biggest export market," Bacus said, remarking also on the potential gains now lost not being a part of the Trans-Pacific Partnership. "The fact that they're actually going to sit down and have a meeting is a step in the right direction and we strongly support that - and we need that as soon as possible."
Whether these talks result in the US rejoining the TPP or negotiating a bilateral agreement of its own is anyone's guess. But, Bacus says there is still a short window in which the US could rejoin if the Administration wanted, as the agreement hasn't yet been officially ratified by participating nations. Bacus says, though, we have only a matter of a few months to make that happen. After that point, he says the US beef industry will be at a significant tariff disadvantage to some of our largest competitors in this market - Australia for example.
"It's important we remain competitive in the Japanese market. These talks are a great first step, but we need a real tangible result in the next few months," he said. "Otherwise, it's going to be hard for us to move forward if we don't know for certain we have sustainable access to our leading export market."
Listen to NCBA's Kent Bacus and I discuss the possibility of trade talks between the US and Japan, on yesterday's Beef Buzz - click here.
Late July Rains Significantly Improve Drought Conditions, While August Brings Mixed Expectations
Oklahoma received some drought-quenching rains this past week as we closed the books on July, significantly improving conditions across the state. This has certainly helped to offset some of the dramatic heatwaves seen prior.
Despite the late relief during July, State Climatologist Gary McManus reports that the U.S. Drought Monitor ended the month with 55 percent of the state in drought, and another 12 percent considered "abnormally dry," a drought precursor. Thirty-Two percent of the state is in at least "severe" drought, and 7 percent labeled "extreme." Extreme drought dropped 5 percent since the end of June, but severe drought increased 9 percent.
According to McManus, drought is expected to persist or intensify along the Red River and in the far western Panhandle during August. Other areas that were in drought at the end of July can expect improvement by the end of August.
Click here for more details or to take a closer look at this week's Drought Monitor map.
Kim Anderson Says Oklahoma Commodity Prices on the Rise, It Might be Time to Sell Some Wheat
We've seen a rally in the wheat market recently, one which OSU Grain Market Economist Kim Anderson attributes to lower worldwide production thanks to complications from unsuitable weather during the growing season. This weekend on SUNUP, Anderson describes how this situation has played out in producers' favor - actually bringing prices higher than they originally were before prices worked down to their previous market lows. According to Anderson, this rally has been seen across the board apparently.
Currently, Anderson reports the price of wheat has climbed nearly a dollar from recent lows up to $5.80, give or take a nickel. Corn is up about 30 cents this week, supporting a forward contract price of $3.50 a bushel. Soybeans are up as well by 60 cents with a current price of right at $8.00, while cotton remains relatively high on the board at 88 cents.
Russia's production woes seem to be the main driver in this situation with a significant drop in production this year compared to last from 3.1 billion bushels total production down to 2.4 billion or so, roughly 15 to 20 percent. However, this is still an average crop for Russia. The EU has followed suit with lower production as have the Ukraine and Australia, which is forecast to be below average in its wheat crop by 11 percent. Whether or not prices will continue to rise, Anderson says depends on how this story of worldwide production plays out, especially with regard to Australia and Argentina as they continue to wrap their arms around this year's crop.
For Anderson's advice on how to take advantage of these higher prices, you can watch his segment tomorrow or Sunday on SUNUP- or you can hear his comments right now and see what else is on the lineup for this week's episode by clicking here.
The Oklahoma Cattlemen's Association is the trusted voice of the Oklahoma Cattle Industry. With headquarters in Oklahoma City, the OCA has a regular presence at the State Capitol to protect and defend the interests of cattlemen and cattlewomen.
Their Vision Statement explains the highest priority of the organization- "Leadership that serves, strengthens and advocates for the Oklahoma cattle industry."
To learn more about the OCA and how you can be a part of this forward-looking group of cattle producers, click here for their website
. For more information- call 405-235-4391.
CBB Chair Joan Ruskamp Says to Truly Understand Checkoff's Value - You've Got to Get Involved
Before becoming involved with the Cattlemen's Beef Promotion Board, Joan Ruskamp, a Nebraska cattle feeder and current chairwoman of the CBB, admits she knew very little about how the dollar per head Beef Checkoff actually worked and what purpose it served exactly. Which is why she got involved, to learn, she says.
We sat down with Ruskamp, yesterday, here in Denver at the 2018 Cattle Industry Summer Business Meeting, where she is working this week with other producers serving on the CBB to outline the budget and programming for this coming fiscal year.
Being on the board these last few years working her way through the various officer positions has been an eye-opening experience she says. As chairwoman, she says she has had the opportunity to travel to exotic places like China and Japan and see Checkoff dollars in action at different promotional events helping to market US beef in these burgeoning markets. In addition, she says she has had the chance to meet many new people who share her passion for raising high-quality American beef.
Nonetheless, she recognizes there are people out there just like her, unsure of the value that the Checkoff brings to the table. But she insists the educational research and promotional efforts the program funds is absolutely essential to building trust with beef consumers and keeping the product front of mind. Her advice to those who may be skeptical about it is to do what she did and get involved.
"If you're not certain - ask... serve... Ask how you can serve and get involved in this program, because when you get involved, you start seeing the nuts and bolts of the program," she said. "And then you become a part of the solution. I wish producers would ask more questions because I believe in the Checkoff - it's our voice, the voice of the producers."
to read more about Ruskamp's story or hear her tell it herself by listening to our complete interview.
Texas Ranchers Emry Birdwell, Deborah Clark Honored for Outstanding Environmental Stewardship
Husband and wife, Emry Birdwell and Deborah Clark of the Birdwell and Clark Ranch in Henrietta, Texas, have been selected as one of six regional honorees of the Environmental Stewardship Award Program (ESAP). The award, announced during the 2018 Cattle Industry Summer Business Meeting, recognizes the operation's outstanding stewardship and conservation efforts.
If you check the map- you will see that these holistic ranchers are just a few miles south of the Red River- south of Marietta, Oklahoma.
The ranch was established in 2004, and today operates on one herd of 5,000 stocker cattle that are rotated 3 to 6 times a day over 340 paddocks on more than 14,000 acres. The ranch has implemented an intense grazing management plan because they don't want the cattle to stay in one place too long, so not to overgraze.
The ranch's grazing management system has over time improved the land's soil quality, plant diversity and wildlife habitat. We had the chance to speak with Birdwell after their acceptance of the award. You can listen to our conversation with him, by clicking over to the original story on our website.
"Right now, I love growing grass and improving this ground," said Emry. "There isn't going to be any more land, and this is our legacy and our chance to make a difference."
Established in 1991 by the National Cattlemen's Beef Association to recognize outstanding land stewards in the cattle industry. This year's regional winners will compete for the national award, which will be announced during the Annual Cattle Industry Convention in New Orleans, La., in February 2019.
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Soy Farmers Back in DC to Drive Their Message Home: We Need Long-Term Solutions to Trade War
Leaders of the soy industry are back in Washington, DC this week to meet with USDA officials and Members of Congress to consider options for offsetting the long-term damage from China's retaliatory tariff on American soybeans.
John Heisdorffer, president of ASA said, "We know that President Trump is aware of how hard this is hitting agriculture and specifically soybeans. The recent announcement that the European Union has agreed to buy more U.S. soybeans is a welcome step. Given the scale of potential damage from the tariff, we need more market-opening measures if we are going to survive the long-term repercussions on soybean exports."
The group has reportedly proposed to Congress, it pass a new long-term farm bill that would increase funding for export promotion under MAP and FMD. The Trade Promotion Program announced by USDA last month, they say, will supplement these efforts. In addition, the group urged the House Ways and Means Committee and Senate Finance Committee to support the negotiation of new free trade agreements, with Japan for instance and that NAFTA be settled by the end of 2018. Finally, the ASA also asked lawmakers to support funding to upgrade inland waterways infrastructure in order to maintain a competitive advantage.
Heisdorffer insists the industry needs these tools as soon as possible in order to inject more certainty and stability into the current market and stave off any long-term effects of the ongoing trade war. Click here to read more.
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