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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.
sold feeder steers mostly 3.00-5.00 higher and heifers only lightly tested on Wednesday- click or tap here
to read the full report from USDA Market News
it's Auction Day for Superior Livestock- both on the Cowboy Channel and on Superior Click to Bid.Com- 21,700 head will be on offer starting at 8:00 AM Central- Click or tap here for all the info.
offered 1,103 head Wednesday with 0 cattle actually selling. Click here
to see their complete market results.
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
Thursday, October 18, 2018
|Featured Story: Soybeans are the Proverbial Canary in the Coal Mine- Nathan Kauffman says Critical Marketing Period Ahead for the Crop
The economic well being of farmers and ranchers has been sliding downward over the last five years- that was the message delivered to the the 2018 Oklahoma Rural Economic Conference on the campus of Oklahoma State University on Wednesday. Nathan Kauffman of the Omaha branch of the Federal Reserve Bank of Kansas City told ag producers and many lenders who work with the farm and ranch community that "the concern has been intensifying over the last five years- it's been relatively gradual but it has been what I would describe as a prolonged downturn in agriculture." He pointed to both strong production in two of the major US crops- corn and soybeans- and the fate of soybeans as they sit in the middle of the trade war battleground between the US and China.
While Oklahoma is not a major producer of soybeans, Kauffman told me after his presentation that soybeans in the big picture can impact the economic impact of many other crops- including those grown in Oklahoma. "Soybeans will compete for acres of other types of crops- so you tend to see a pretty strong correlation in commodity prices when the price of one major commodity changes- it typically is tied to prices of other commodities."
He believes that the tariff war with China has left soybeans very vulnerable heading into the time of the crop cycle when much of the crop annually is sold into the export market. Summer export sales of soybeans were actually higher this year than normal- but with China buying few if any US Soybeans this fall- it remains to be seen if other countries and regions will fill in the gap and buy larger quantities from American farmers.
After his presentation- Sam Knipp of AFR joined me as we had a wide ranging conversation with Kauffman about the US Economy, Ag Outlook and more. Click or tap here to read more from our Top Ag Story this morning- and to listen to that complete conversation that we had with this FED Bank official.
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We continued our earlier discussion with Oklahoma Wheat Commission Executive Director Mike Schulte, Wednesday, digging into some of the recent work that the Commission has been collaborating on with OSU's Wheat Improvement Team in addition to the Wheat Marketing Center and a handful of millers and bakers.
Schulte told us about some of the Commission's groundbreaking research that is being conducted, defining the flavor profile of OSU's different wheat varieties and from that- exploring some out of the box marketing strategies involving product line development tailored specifically for individual wheat varieties.
Offering us a sneak peak at what is going on behind the curtain, Schulte says so far, two OSU varieties (Skydance and Smith's Gold) are being used to create and market specialty brands of pasta and tortillas. According to Schulte, this is changing the discussion about what the Commission can do to help farmers better market their product.
In particular, Smith's Gold has been found to have a very pleasant flavor profile- one that makes it a great pasta wheat- and one company in Oklahoma has begun production of that Pasta- and has been judged by culinary experts as better tasting that comparable pastas made with durum and soft white wheats.
For many years- we have talked about the agronomic traits of new wheat varieties- and of their milling and baking traits as well- but the flavor profile is a new, cutting edge approach to rating the usefulness of a variety.
Learn more about this new research and the direction the Commission is headed, by clicking here to read more or to listen to my complete conversation with Schulte.
Do You Know What Your Cattle are Really Worth? CAB's Justin Sexton on the True Value of Quality
If you are in the stocker cattle end of the beef business, you know the right kind of cattle can make or break your operation, financially speaking. Justin Sexton is director of supply development at Certified Angus Beef. According to him, it is a good idea for stocker operators to think about the next owner of their cattle. Even as you are buying them, he says you need to buy them with consideration of what the next buyer will want in order to offer an animal that will command a premium price at auction block.
"From a quality perspective, we see feedyards have increased competition and the quality grade has continued to improve. So, what are some of the supplementation strategies the stocker operator can engage in to make sure that the next customer - the feedyard - has the greatest opportunity for those cattle to grade," Sexton said.
The truth is, numbers tell a story when it comes to profit and loss. In reality, the market is trending toward a preference for cattle that are managed with quality in mind as a standard benchmark. According to Sexton, managing your cattle in such a way that moves the needle only marginally but enough to bump them up into the next quality grade can command a modest premium of $4 to $6 per head. However, if cattle are not managed for quality, functionality slides as much as 32 percent of these cattle outside of the premium scale and ultimately takes away from the producer's bottom line.
"So, if the $4 to $6 premium going forward isn't enough, the idea of a $13 to $15 loss is something surely for them to think about as they plan their strategies going forward," he said, adding that it is ultimately up to the producer to promote the investment put into his cattle. "When a stocker operator can communicate the genetic potential or even the management practices they have to the feedyard operator, that's when it has the most value to them. So, really the challenge is - how do I communicate that in a way that conveys the confidence that they can buy those cattle."
Sexton's advice is to build a one on one relationship in order to have those discussions in person, face to face, for the best results. He suggests also engaging with an auction market that focuses on this type of direct marketing that can help producers effectively communicate the value and quality of their cattle to buyers.
For more of Sexton's advice on how to develop your cattle's full potential value and effectively market them based on those qualities, listen to his full interview, on yesterday's Beef Buzz - click here.
Over 60,000 FFA members and supporters are headed to Indianapolis for the 91st Annual National FFA Convention. Several hundred Oklahoma FFA members are competing for national honors- including high school senior Emily Garrett of the Kingfisher FFA Chapter. Garrett rose to the top this year in Oklahoma's State FFA Prepared Public Speaking Contest with her speech on urban agriculture and is now preparing to compete on the national level in Indianapolis next week.
According to Garrett, urban agriculture is a growing trend in the greater ag industry that has developed substantially in just the past few years as new, supportive technologies have emerged.
"We've seen a large, dramatic increase in the last five years in the amount of food that is produced in urban areas. So, my speech talks about how we can not only improve technology on the urban agriculture side, but how we can take the artificial intelligence systems to the conventional side of agriculture," Garrett said. "I mention the pros and cons of this type of agriculture within my speech. The overall theme is 'Fixer Upper' and how we are fixing up abandoned buildings and practices to make them more efficient and prettier to the human eye."
She sat down with our own Carson Horn
this week to talk about her topic and the journey that has led her to compete at the upcoming National FFA Convention. Listen to their complete conversation by visiting the Blue-Green Gazette on our website. Be sure to check in over the next several days as we gear up to bring you coverage from Indianapolis of the 2018 National FFA Convention, brought to you by ITC Great Plains, Your Energy Superhighway.
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.
We were joined by Oklahoma Beef Council Executive Director Heather Buckmaster again this week, for our latest edition in our continuing series, Checking In on the Beef Checkoff. This week, Buckmaster outlines some of the programs specifically funded in this year's budget that was recently set, with a total investment of $1.74 million.
According to Buckmaster, every program that has been prioritized in the budget checks all the boxes in the Checkoff's mission to support beef promotion, research and education.
Learn more about this year's budget, by clicking here to continue reading or to listen to Buckmaster and I discuss the budget in detail.
Representatives of the U.S. pork industry say "we've got the momentum on trade headed in the right direction." National Pork Producers Council President Jim Heimerl stated "pork producers are hurting because of retaliatory tariffs on pork," but says their patience is starting to pay off.
The comments followed the formal announcement that the U.S. is seeking new free trade agreements with the European Union, Japan and the United Kingdom. That announcement follows the recent completion of negotiations to update the North American Free Trade Agreement, now named the U.S.-Canada-Mexico Agreement, if approved.
Between the USMCA, and the recently updated agreement with South Korea, NPPC points out that the administration has maintained the U.S. pork industry's zero-tariff access to three of the top five destinations for U.S. pork exports. However, NPPC notes, that while the organization is open to trade negotiations with the United Kingdom, it is skeptical about EU intentions. Heimerl says "The EU has played the United States like a drum in the past," adding that NPPC expects the U.S. to require the EU to eliminate all tariff and non-tariff barriers to U.S. pork.
Members of the soybean industry share those feelings expressed by Heimerl. A release from the American Soybean Association issued yesterday stated, "ASA is hopeful that the Administration's formal notice to Congress that it will enter trade negotiations with the European Union, Japan and the United Kingdom as soon as mid-January will make a settlement with China a plausible next step, bringing an end to the devastating tariff imposed on American soybeans."
While ASA is pleased with these developments, the association wasn't shy in encouraging the administration to continue its efforts in seeking further export opportunities elsewhere as well in the meantime.
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| Register Now for 2018 Crop Insurance Workshop Scheduled for November 2nd in Enid, Okla.
The 2018 Crop Insurance Workshop taking place Nov. 2 in Enid will once again offer a "one-stop shopping format" for crop insurance agents; marketing consultants; and agricultural producers, lenders and educators needing to know the latest information from experts in Oklahoma and beyond.
A four-state collaboration by the University of Nebraska at Lincoln, Colorado State University, Kansas State University and OSU's Division of Agricultural Sciences and Natural Resources, the workshop will take place at Enid's Autry Technology Center, located at 1201 W. Willow Rd.
Those interested in attending the workshop are encouraged to register as soon as possible. Cost is $100 per participant if registering by Oct. 27 and $120 per participant if registering afterward. The workshop will begin at 8 a.m. with registration, donuts and coffee. The first presentation will start at 9 a.m. with Congressman Frank Lucas of Oklahoma's Third Congressional District providing an update of activities going on in Washington D.C. relative to agriculture and the Southern Plains states.
For more information about this workshop including a full lineup of speakers and instructions on how to register, click over to the calendar page on our website.
|Our thanks to Midwest Farms Shows, P & K Equipment, Livestock Exchange at the Oklahoma National Stockyards, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Oklahoma Pork Council, the Oklahoma Cattlemens Association and KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
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