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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 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, September 7, 2018
U.S. Pork and Beef Export Volumes Strong in July; Pork Value Squeezed by Higher Duties
July exports of U.S. pork and beef were higher than a year ago, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Export value results were mixed, with beef exports posting another near-record month while pork export value declined, reflecting the impact of retaliatory duties imposed by Mexico and China.
Pork exports totaled 176,413 metric tons (mt) in July, up 1.5 percent from a year ago, valued at $465.3 million - down 5 percent year-over-year and the lowest monthly value since February 2016. For the first seven months of the year, pork exports remained 2 percent ahead of last year's record volume pace at 1.45 million mt, while value was up 3 percent to $3.83 billion.
Led by another spectacular performance in South Korea and strong growth in Japan, Taiwan and Latin America, July beef exports climbed 12 percent in volume to 116,575 mt, valued at $722 million - up 16 percent from a year ago and just slightly below the May 2018 record of $722.1 million. For January through July, beef exports established a record pace in both volume (779,450 mt, up 10 percent year-over-year) and value ($4.76 billion, up 20 percent).
President and CEO of the USMEF, Dan Halstrom, says "The worldwide momentum for U.S. beef has rarely been as strong as it is today. To a large degree our mainstay Asian markets are driving this growth, but emerging markets in Asia and in the Western Hemisphere are also displaying a tremendous appetite for U.S. beef and contributing significantly to the surge in export value. From high-end restaurants to convenience stores, U.S. beef is gaining new fans across the globe on a daily basis."
Click or tap here to read the full story- with country by country highlights for both beef and pork.
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|OKAgFund Endorses Stitt for Governor, Expands Support for Other Candidates
The OKAgFund, Oklahoma Farm Bureau's grassroots political action committee, has endorsed Kevin Stitt in the Oklahoma gubernatorial election following a meeting of the board on Thursday, Aug. 30.
A grassroots committee comprised of OKFB members from around the state, the OKAgFund contributed an additional $29,500 in financial support to statewide candidates. The committee increased financial support for eight candidates and gave first-time financial support to 25 candidates.
"As farmers, ranchers and rural Oklahomans, we aim to support like-minded candidates who value the rural way of life," said Coy Farmer, chairman of the OKAgFund. "We are proud to stand with these candidates who we believe will work to ensure a strong future for agriculture and rural Oklahoma."
The OKAgFund also announced endorsements for seven other candidates including Matt Pinnell for lieutenant governor and Leslie Osborn for labor commissioner. Senate candidates endorsed include Mark Allen, Senate District 4; James Leewright, Senate District 12; Josh West, House District 5; Tom Gann, House District 8; Scott Fetgatter, House District 16; Kenton Patzkowsky, House District 61; and Rande Worthen, House District 64.
To read more about the efforts of the OKAgFund, click or tap here.
|OSU's Kim Anderson Says Soybean Prices Are in the Tank- and Are Likely to Stay There
Oklahoma State University's Dr. Kim Anderson offers an overview of current prices and price outlook for the major grains and oilseeds being grown by Oklahoma farmers- including corn, milo, soybeans and wheat.
Of those crops- Dr. Anderson believes that there is little if any hope of price improvement this season for soybeans- saying we have record US and global soybean production predicted here in 2018- and record large ending stocks ahead. He adds that when you add the current trade issues between China and the United States- soybean farmers will have little chance of seeing better soybean prices this fall or for that matter, anytime soon.
Wheat prices do have the potential for a higher move- but currently what is going on with the 2018 Russian crop is driving global and US Wheat prices- and adding or taking away twenty to twenty five cents per bushel.
Dr. Anderson offered his comments on the current grain marketplace to Lyndall Stout for this weekend's SUNUP program, as produced by OSU Ag Communications. You can watch this segment this weekend- or you can listen to it now by clicking or tapping here- and you can also see this weekend's SUNUP program lineup in our webstory as well.
|Strong Domestic Beef Demand Helping Offset Rising Supplies of Cattle in Pipeline
There are more cattle and, as a result, more beef going through the supply pipeline here in early part of the second half of 2018. If all things were equal- bigger supplies of beef would likely mean lower beef prices- and back up to the live cattle part of the pipeline- lower cattle prices. But Dr. Glynn Tonsor, Extension Livestock Marketing Specialist at Kansas State University, says things are not exactly the same as a year ago.
The difference is stronger beef demand. "From the same period in 2017 at the end of August- choice cutoff was $191- we are 18 bucks above where we were at this point last year...we have higher supplies yet we have prices above what we have expected- that only happens with strong demand."
Tonsor adds that demand numbers shared at the recent summer Cattle Industry Business Meeting in Denver showed "through June, beef demand was up 20% from where we were in January 2012" and Dr. Tonsor says that May of this year was the highest of any month in that time span when it comes to beef demand.
For cattle prices, that means "cattle prices would not be as high as we are witnessing if we did not have that domestic demand strength that I am referring to."
Dr. Tonsor's comments are featured in this latest Beef Buzz- click or tap here to hear his thoughts on the status of beef demand domestically- which when coupled with the beef export story that we featured in our top story this morning- keeps cattle prices stronger than they might otherwise be.
|Canada, U.S. NAFTA Talks Appear to be Progressing- Maybe
While few details are out there- there are some signs that a North American trade deal that includes Canada can be had. Most certainly, there is huge interest in the farm community- Allendale led this morning's overview of the markets talking trade saying "Grain Market Traders continue to wait to see if the US and Canada can strike a NAFTA deal. Negotiations also continue with China, with President Trump saying he is not ready to make a deal that China is offering."
The Voice of America has a report out this morning citing US sources as saying there are three issues left- including dairy quotas, protection for Canadian media companies, and how to resolve future trade disputes.
That source told VOA "Part of our problem is that Canada has been backsliding on its commitments (on dairy)."
Trump has set a deadline for a deal this week, prompting aides to U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland to work well into the evening Thursday to find ways to move forward.
We shall see.
Midwest Farm Shows is proud to produce the two best Farm Shows in the State of Oklahoma annually- the Tulsa Farm Show each December and the Oklahoma City Farm Show each April.
They would like to thank all of you who participated in their 2018 Oklahoma City Farm Show.
Up next will be the Tulsa Farm Show in December 2018- the dates are December 6th, 7th and 8th. Now is the ideal time to contact the Midwest Farm Show Office at 507-437-7969 and book space at the 2018 Tulsa Farm Show. To learn more about the Tulsa Farm Show, click here.
|The American Soybean Association Spotlighting Monarchs This Fall
While trade issues remain top priority for the soy industry, the American Soybean Association (ASA) is taking a moment this fall to illuminate the importance of monarch habitat in its overall conservation efforts, which include soil and water quality, and pollinator preservation.
Starting earlier this week and running through October 5, ASA's Twitter, Instagram, and Facebook feeds will be aflutter with monarch messaging designed to shine a spotlight on monarch habitat importance. Outreach will include quick facts, links and suggestions to easily get involved, and a photo contest for farmers and other ASA friends and followers to upload snapshots of their efforts to plant milkweed and protect the pretty, beneficial butterflies.
Three randomly-selected participants who post their unique monarch or monarch habitat pics on Facebook, Instagram, or Twitter with the hashtag #Beans4Monarchs during the contest period will be selected to each win one $100 gift card, to be awarded in October.
Details on this contest and more on this story can be seen by clicking or tapping here.
|August Rural Mainstreet Index Rises, Ag Worries Remain
The Creighton University Rural Mainstreet Index climbed above growth neutral in August for a seventh straight month. The monthly survey of bank CEO's in ten Midwestern states climbed to 54.8 from 53.8 in July. The index ranges between 0 and 100 with 50.0 representing growth neutral.
Organizer Ernie Goss says recent surveys show the Rural Mainstreet economy is expanding outside of agriculture, but "the negative impacts of recent trade skirmishes have begun to surface." In reaction to weak farm commodity prices and income, almost one-third, 31 percent, of bank CEOs reported rejecting a higher percentage of farm loans. More than half, 54 percent, indicated raising collateral requirements, while 4.8 percent reported reducing the size of farm loans.
Borrowing by farmers expanded for August, but at a slower pace than in July, as the loan-volume index declined to 72.2 from 76.9 in July. The confidence index, which reflects expectations for the economy six months out, rose to a weak 46.5 from July's 42.7, indicating a pessimistic economic outlook among bankers.
The survey does not include Oklahoma bankers- but does feature the survey answers from bankers in Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming.
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