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mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
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
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Dave Lanning, Markets and Production
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, August 10, 2018
What Will USDA Do With Yields in Today's Reports?
Grain markets are on edge ahead of the USDA report this morning at 11:00 AM central time. The biggest question swirling the market is what USDA will do with yields.
Reuters poll of average analyst estimates for today's USDA Supply and Demand report has 2018/19 corn production at 14.411 billion bushels on a yield of 176.2 bushels per acre. Ending stocks are estimated at 1.636 billion bushels.
Soybean production could be 4.407 billion bushels on a yield of 49.6 bushels per acre according to the average guess. That would push ending stocks to .638 billion bushels.
Wheat ending stocks are estimated at .961 billion bushels.
The report will be out at 11:00 AM CDT today, and it will also mark the first time that the press will not have a "lock-up" view of the report ahead of its release. So- early analysis may be a little slower coming in via Twitter and other social media- plus the more traditional outlets.
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.
|R Calf USA Seeks to Tie Up 3 Largest State Beef Councils and 10 More- Asking Federal Judge to Expand Current Court Order Current Against Montana
The group that has slowed the promotion, research and education work of the Beef Checkoff in Montana is expanding their war on the self help program by asking for a preliminary injunction on the state beef council's part of the checkoff to 13 additional states.
R-Calf USA is going back to U.S. District Judge Brian Morris in Montana- hoping to expand the court order and potentially cripple the work of the additional 13 Beef Councils at the state level.
The lead legal counsel in this war on the checkoff is Food Project Attorney David Muraskin, who is lead counsel in two of the "Ag-gag" cases in North Carolina brought by several groups, including PETA- a series of challenges to state laws that penalize investigations of factory farming. In that role, he secured the first appellate court decision holding that those investigations are protected by the First Amendment.
The list of states in the litigation announced on Thursday by R Calf includes the three largest beef checkoff states (in terms of dollars remitted to the Beef Board)- Texas, Kansas and Nebraska. Together, they sent $12.328 million dollars to the Beef Board in Fiscal Year 2017, 36% of the monies submitted from qualified state beef councils.
Based on the Checkoff rules that has the qualified State Beef Councils keeping fifty cents of every dollar they collect, that would mean a similar amount would be up for grabs because of this attack on these three key state beef councils by R-CALF USA.
To read the news release from the cattle group on this latest litigation- click or tap here.
|Drought in SW Oklahoma Expands in Latest Drought Monitor- But Rains Could Rescue Us by the End of the Weekend
Drought in southwestern Oklahoma expands in latest Oklahoma Drought Monitor- but there is hope that Mother Nature will consider the Exceptional Drought now found in the southern most counties in the southwest segment of the state as a perfect target for heavy rains this weekend and into early next week.
According to the latest Mesonet Ticker prepared by Gary McManus- "The D4 drought intensity showing up this week is the first substantial amount in the state since mid-June. Now it's only a tiny amount, but it's concentrated in one area, signalling misery for ag producers in that corner. Notice we also have a new area of Extreme (D3) drought in the Osage/Pawnee/Noble county area, with more tales of woe coming from that region.
To read more about this latest Drought Monitor- click or tap here.
|Mark Hodges of Plains Grains Says the Quality of the 2018 Makes Him Very, Very, Very Happy
With harvest complete in the southern plains, Mark Hodges with Plains Grains is watching the northern states as they are the in the midst of harvest of their Hard Red Winter Wheat Crop. Hodges talked with yours truly at the 2018 Oklahoma Wheat Growers Association Meeting in El Reno about the harvest and the quality of the 2018 crop as the latter part of the season lab results continue to trickle in.
About the quality of the 2018 HRW crop overall- Hodges says he is "very, very , very happy with quality." Hodges believes that even with the "half of a crop" that Oklahoma wheat farmers ended up with- the 2018 wheat crop is a high quality crop- a very functional crop for millers and bakers- and will offer a chance to take of the lesser quality wheat from the last couple of growing seasons and blend the 2018 crop with it to offer a top notch product to our customers.
To read more- and to have a chance to listen to Mark and Ron- click or tap 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.
They are currently busy getting ready for the 2018 Ranch Rodeo- dates are set for August 24 and 25 at the Lazy E.
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.
|Multiple Countries Struggle With 2018 Wheat Crop- Kim Anderson Says Those Woes Helping US Wheat Prices
There is a significant list of countries that have problems with their current wheat crop- Russia, Ukraine, Germany and even Australia. Those supply problems have helped wheat prices in recent days move higher. Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson says it's not just wheat for flour and noodles that seems to be in short supply- it's also feed wheat.
"Feed wheat- Korea bought feed wheat for around $5.70 with cost and freight- in other words, delivered. Within a week, that price had jumped up a dollar- so there may be a shortage of feed wheat."
You can listen to his weekend conversation with Dave Deken from SUNUP- and you can see the lineup for the last SUNUP of this month(they will be off for a couple of weeks because of OETA's schedule)- click or tap here to jump to our Top Ag Story of the morning!
|USDA to Realign ERS with Chief Economist, Relocate ERS & NIFA Outside Washington
USDA Secretary Sonny Perdue is doing some more realigning of the Agency- this time bringing the Economic Research Service under the supervision of the Chief Economist- which some folks are saying may make the office more prone to political influence.
Along with announcing the ERS move into the USDA's Office of the Secretary, Perdue said that most of the nearly 700 employees of the ERS and the National Institute of Food and Agriculture, which awards research grants, will move out of the Washington area to yet-to-be-named locations. The relocation should be complete by the end of 2019, said the USDA. Severance packages may be offered to workers who do not want to move.
"These changes are more steps down the path to better service to our customers," said Perdue in a statement. "None of this reflects on the jobs being done by our ERS or NIFA employees." The USDA said the ERS and the Office of the Chief Economist "have similar missions," so the renewed linkage makes sense. "ERS studies and anticipates trends and emerging issues while OCE advises the secretary and Congress on the economic implications of policies and programs."
Former USDA chief economist Joe Glauber said, "It makes sense for ERS to be under the chief economist but makes no sense to move them out of D.C. All that means is that they are sure to lose a lot of valuable staff."
To read more about this decision- click or tap here
to see the news release from the USDA.
|California Rancher Michael Williams Defends US Roundtable for Sustainable Beef- Discounts Conspiracy Theories
He's a true American Cowboy- and he ranches in the shadow of one of the largest metros in the US- and the world. Mike Williams, along with his wife Lynda, started Diamond W Cattle Company with the purchase of ten steers in 2002. They now operate a cow/calf stocker and custom grazing operation on two historic ranches, Rancho Cañada Larga and the Ritter Ranch, comprising of over 18,500 acres in Southern California's Los Angeles and Ventura Counties.
Mike is also involved in the California Cattlemen's Association. Most recently, Mike has been representing the California Cattlemen's Association on the US Roundtable for Sustainable Beef. I caught up with Williams at the recent Oklahoma Cattlemen's Association Annual Convention, where Williams was on a Rancher Panel- explaining why he believes strongly in what the USRSB is doing.
He admits he was suspicious of what the group was about before he got on the inside- but now he says the conspiracy theories about the Roundtable are just flat out wrong- and that Cattlemen are much better off being engaged with this group compared to being on the outside looking in and complaining about how evil it all
To hear Mike's comments- click or tap here for this Beef Buzz edition.
|Farm Economy Dips in 2n Quarter According to KC Fed Ag Credit Survey
The farm economy in the seven states of the Tenth Federal Reserve District(including Oklahoma) dipped in the second quarter of 2018 alongside a sharp drop in the prices of key agricultural commodities and weakened agricultural credit conditions, according to the Kansas City Fed's Agricultural Credit Survey. Despite these challenges in the District's farm economy, farmland values have remained relatively steady and provided ongoing support to agricultural credit markets.
A decline in farm income accelerated slightly in the second quarter as crop prices plummeted in June. Farm income was expected to remain subdued across the District in coming months, especially in states more heavily concentrated in commodities, such as soybeans, that have been targeted by retaliatory tariffs.
Click or tap here to read more...
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