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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.
Only a few calves showed up at OKC West
on Tuesday after Labor Day- 800 was the estimate- weaned calves showed good demand but no trends were reported- click here for the details
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, September 5, 2018
Gordon Sliding East- Taking Heavier Rains With Him as Turn Expected Northward in Central Arkansas
Our buddy Gordon has decided not to pay a visit to Oklahoma later this week- as the minimal Hurricane plowed into the Gulf Coast late last night and is Mississippi this morning- by Friday morning- it will be in Central Arkansas and starting to turn north- it will brush Oklahoma but the Weather folks have reduced by a bunch the likely rainfall we will get from Gordon. Still- the seven day outlook offers a lot of rainfall to help late season growth of crops and set us up for ample moisture to plant wheat and canola- once it drys out.
Click here to compare this morning's graphic to the one we had in the Tuesday morning email- you can see the slide to the east.
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And if you check us out on the web at pkequipment.com, you'll have it all at your fingertips. New & used equipment (you can even request a quote, schedule service, or get a value for your trade!), current P&K promotions, service scheduling, online parts shopping, finance tools & so much more! Stop by and meet the team at P&K Equipment today- in stores or online. Because around here, John Deere starts with P&K.
|Latest Crop Progress Numbers Stable as Harvest Underway in Southern States- Pasture Conditions Improve
With Labor Day now in our rearview mirror, the 2018 harvest is underway in our southern states, with corn and soybean quality starting the season with above-average crop ratings but battling to hold on over the past few weeks. The week ending Sept. 2 showcases mixed results, with soybean crop ratings keeping steady while corn ratings slipped another point, according to the latest USDA Crop Progress report.
Corn crop ratings slipped from 68% rated good-to-excellent the prior week down to 67% last week. Another 21% of the crop is rated fair (up from 20% the prior week), with the remaining 12% rated poor or very poor (unchanged from the prior week).
Soybean crop condition for the week ending Sept. 2 held steady, with 49% of the crop in good condition and 17% of the crop in excellent condition. With several states trending above the nationwide average, only Missouri (45%) and Kansas (49%) are seeing less than half of their crops in good-to-excellent condition.
In Oklahoma, the only crop that has a harvest figure attached to it is grain sorghum- with 4% of that crop now harvested versus 3% a year ago and for the five year average. Reports on Social Media indicates that corn harvest is active in Oklahoma where weather is permitting- but USDA has no figures in the latest report-and there is mention of farmers preparation for wheat planting or actual planting complete yet.
Nationally, the Pasture and Range ratings improved two percentage points from a week ago- now standing at 42% in good to excellent condition- but five points under the ratings of 2017. In our region-Oklahoma Pasture and Range ratings improve by one percentage point to 50% good to excellent compared to last week, Texas jumps up two points to 12% good to excellent, Missouri improves by three percentage points to 15% good to excellent while Kansas drops one point to 38% good to excellent.
To review all the numbers and our color commentary on the weekly Crop Progress report- out a day later than normal due to Labor Day- click or tap here. We have the link to the full USDA report and the state reports in our region available there.
|Roy Lee Lindsay with the Okla Pork Council Hopes US Pork Gets Back to Zero Tariffs with Mexico in New NAFTA
As September gets into high gear, I stopped by the Oklahoma Pork Council offices and talked with Roy Lee Lindsay about several key issues important to the US Pork Industry. On the subject of trade- Lindsay focused on the most recent conversations that President Trump has been discussing- a potential trade deal with Mexico.
Last week, the President announced a US- Mexican Trade Agreement- a deal that he says will replace NAFTA. Lindsay says for the Pork Industry- the hope is to simply get back to what we had before all the turmoil has ocurred with the tariffs slapped on steel and aluminum by President Trump. Under NAFTA, US Pork had zero tariffs applied to it by both Mexico and Canada- and with Mexico representing as much as forty percent of the US pork export market- the industry is losing money by having to discount pork into the Mexican market to keep customers buying US Pork that has the 25% retaliatory tariff slapped on it by the Mexicans.
We also talked farm bill- with the Conference Committee meeting this morning in DC on the 2018 Farm Bill- it was timely to talk about the hopes of the livestock industry to get authorization and funding in place for a FMD Vaccine Bank.
Click or tap here and check out our complete conversation on these topics.
|Ag Secretary Sonny Perdue Launches Sign Up of Trade Mitigation Package for Folks Hurt by Retaliatory Tariffs
Some farmers are smiling about the help being offered by the Trump Administration- others are upset by the relatively low amounts being offered for certain crops- but either way- now is the time to get into your local FSA office to begin the process of getting your part of the multiple billions being offered to help offset lower farm gate prices being seen while the tit for tat tariff battle continues.
Yesterday, U.S. Secretary of Agriculture Sonny Perdue launched the trade mitigation package aimed at assisting farmers suffering from damage due to unjustified trade retaliation by foreign nations. Producers of certain commodities can now sign up for the Market Facilitation Program (MFP), while USDA will also begin to purchase identified commodities under a food purchase and distribution program. Additionally, USDA has begun accepting proposals for the Agricultural Trade Promotion Program (ATP), which will help American farmers find and access new markets for their products. In total, USDA will authorize up to $12 billion in programs, consistent with World Trade Organization obligations.
We have posted details on all of this in recent days- but you can click or tap here for a recap of the three programs that are now up, running and open from USDA.
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|OSU's Derrell Peel Says Time to Pencil Profit Potential for 2018-19 Wheat Pasture Opportunities
Tis the season for planting the 2019 wheat crop- at least if you want wheat pasture in the weeks ahead.
According to OSU's Derrell Peel- Oklahoma producers interested in dual-purpose or forage-only wheat for winter grazing often prefer to plant winter wheat in early to mid-September if conditions permit. For grain-only, winter wheat is typically planted mid to late October. Conditions are generally favorable for early wheat planting this year in Oklahoma.
Wheat planted before the end of September can be ready for grazing by November 1 and allow for 120 days of winter grazing by early March and still permit harvesting wheat grain as a dual-purpose crop.
Stockers for winter grazing may be purchased over the next six to eight weeks. Timing of purchases will depend on expected availability of wheat pasture and the ability to receive and utilize other feed resources to hold stockers until wheat pasture is ready. Producers may be looking to buy stockers weighing from 450-600 pounds depending on a variety of factors but 475 pound steers are very commonly demanded for winter grazing.
The availability of wheat pasture often coincides with seasonal low purchase prices for stockers. Typically, prices for stockers will decrease through September to seasonal lows in October. For example, 475 pound, Medium and Large, Number 1 steers in Oklahoma averaged about $170/cwt. in August and are expected to drop seasonally about 4.5 percent to October suggesting a price of roughly $162-$163/cwt. Heavier stockers over 550 pounds may drop 5.0 to 5.5 percent from August to October.
Click or tap here to read more of Dr. Peel's comments on the numbers to crunch to gauge the profit potential of the wheat pasture cattle enterprise here in 2018.
|Recent Rains Suggest It's Time to Check for Fall Armyworms
Rain has been falling across parts of Oklahoma, and while that is typically a good thing for agricultural operations this time of year, the rainfall has signaled the importance of checking for the presence of fall armyworms.
"Since survival of fall armyworm eggs is highest following warm, humid climatic conditions following summer rainfall or supplemental irrigation, some serious problems could develop for seedling wheat fields, sod farms, golf courses and residential lawns," said Tom Royer, Oklahoma State University Integrated Pest Management coordinator.
Royer and Jessica Lindenmayer, graduate researcher with the OSU department of entomology and plant pathology, have been collaborating with OSU Cooperative Extension agricultural educators Leland McDaniel of Carter and Jefferson counties, Casey Russell of Pontotoc County and Kassie Junghanns of Grant County to monitor the growth of migrating fall armyworm populations. Fall armyworm populations also have been detected at high levels at OSU's Cimarron Valley Research Station at Perkins.
The time to scout is now- Tom and Jessica say if you catch them in your location- they are much more easily treated- learn more by clicking here to read additional comments from the OSU experts.
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|U.S. Wheat Associates Continues Restructuring with Closing of Moscow Office
The times- they are a changing. Bob Dylan sang that several generations ago- back when lots of us had record players and would save our money to buy the latest album to play over and over and over...
Fast forward to 2018 and the US Wheat Associates release of this week acknowledges the reality of the wheat market of yesteryear is no more for US Wheat Producers in the old USSR and then after the Wall fell- the nation of Russia.
Based in part on the significant increase in low-priced Russian wheat exports, USW closed an office in Cairo, Egypt, in December 2017, that eliminated four staff positions. The Moscow office closing will eliminate the position of Office Director and Marketing Specialist held by Ms. Valentina Shustova since 1995.
"After working continuously with the former Soviet Union since the mid-1970's, we opened an office in Moscow in 1992 to work more closely with the newly independent Russian government and its budding private-sector industry that imported almost three million metric tons of U.S. wheat that marketing year," said USW President Vince Peterson. "Russian imports of U.S. wheat averaged close to 400,000 metric tons for the next ten years, most notably capped by a U.S. wheat donation program that helped shore up Russian domestic crop and economic hardships in 1998 and 1999. Since then, however, the country's agriculture has changed to be more market oriented. As their domestic wheat production increased, our mission also shifted to monitoring this production as well as Russian wheat quality, prices and policy."
That monitoring has been important- but Peterson and his team have decided the resources are needed elsewhere- so the Moscow office will soon be no more.
Click or tap here
to read the full release from US Wheat on this tip of the hat to the new market realities for the global wheat market.
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