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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
Wednesday, December 12, 2018
Senate Approves Farm Bill Conference Report 87 to 13 - House Expected to Follow Suit
The Senate Tuesday afternoon approved the 2018 farm bill, titled the Agriculture Improvement Act of 2018. Senators, without debate, approved the bill 87 to 13, placing action on the House of Representatives to pass and send the legislation to President Trump for his signature.
Collin Peterson, Ranking Democrat of the House Agriculture Committee last week said "almost all" House Democrats support the bill. Farm groups across the spectrum of agriculture expressed support for the bill and called on lawmakers to move the farm bill across the finish line.
The American Farm Bureau Federation endorsed the bill while calling for final approval. AFBF President Zippy Duvall called the bill a "complete package" gives farmers and ranchers the needed tools to "weather this ongoing storm," referring to the farm economy.
National Farmers Union President Roger Johnson says passage of the bill "cannot come soon enough" as farmers and ranchers face the worst farm economy decline in more than 30 years. Johnson calls the bill a "critical step" towards providing relief.
Click here to read more about the latest news on the Farm Bill's path to passage.
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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.
Senator Jim Inhofe, Ag Secretary Sonny Perdue Cheer Farm Bill Passage in Senate
Once news broke of the Farm Bill's passage in the US Senate yesterday, Oklahoma's Senior Senator Jim Inhofe promptly commented on the subject, congratulating farmers and ranchers on the big win this development represents.
"The passage of today's farm bill is a win for farmers, ranchers and the American taxpayer. It ensures producers in Oklahoma and across the country have flexibility in crop programs and certainty for future seasons, while supporting critical investments in agriculture research and land-grant schools, like Oklahoma State University and Langston University," he said. "I am especially pleased this legislation includes my provisions that will enable farmers to graze on CRP lands after a wildfire, help young Americans begin careers in farming and make it easier for Oklahomans to repair fence lines damaged in disasters like wildfires."
Inhofe added that the bill "addresses some of the waste and fraud in the SNAP program by empowering President Trump to enforce stricter work requirements as well as including important program integrity reforms that will ensure federal taxpayer resources go to those truly in need."
US Secretary of Agriculture Sonny Perdue also remarked on the bill's passage in the Senate yesterday.
"I welcome the introduction of the Farm Bill conference committee report, and hope the Congress can approve this legislation expeditiously. This legislation maintains a strong safety net for the farm economy, invests in critical agricultural research, and will promote agriculture exports through robust trade programs," Perdue stated. "If Congress passes this legislation I will encourage the President to sign it."
The ag industry erupted yesterday after news came that the Farm Bill had made significant progress. Among those groups adding their two cents to the discussion, was the National Council of Farmer Cooperatives.
"The 2018 farm bill process has entered the home stretch with the filing of the conference report last night. Getting to this point would have been impossible without the leadership and hard work of Senators Pat Roberts and Debbie Stabenow and Representatives Mike Conaway and Collin Peterson," said NCFC President Chuck Conner. "In a time of continued low commodity prices and disruptions in overseas markets, they recognized that America's farmers and ranchers need the certainty of a new farm bill before the new year. We urge the full House and Senate to meet that goal by passing the conference report as soon as possible."
Rodd Moesel of the Oklahoma Farm Bureau is in DC this week and offered his thanks to Oklahoma's Senators for their YES vote- "We're thankful for the support of Sen. Jim Inhofe and Sen. James Lankford in voting for the farm bill today. As the House also plans to vote on the legislation this week, we're urging all of our members to call their congressman and urge a yes vote on the final bill. Time is of the essence, as farmers and ranchers need the assurance and certainty that comes with this critical piece of legislation as we close out the year."
Agricultural Retailers Association (ARA)President and CEO Daren Coppock called the bill a "missed opportunity," stating that the final legislation failed to correct some straightforward regulatory problems that would have had no budgetary impact.
"This legislation represented a significant opportunity to correct some serious regulatory issues, and those solutions did not make the final bill despite significant bipartisan support," he said. "ARA will not oppose this bill but we had hoped for much more."
"Enactment of a new farm bill on schedule has been a top ASA priority for the last two years," stated ASA President Davie Stephens, a soybean farmer from Clinton, Ky. "This legislation will provide the risk management tools farmers need to navigate difficult economic conditions over the next five years. It provides full funding for the Foreign Market Development program and the Market Access Program - key partnerships under which ASA and USDA's Foreign Agricultural Service work to expand developing and emerging country markets." Stephens continued, "We commend Chairmen Conaway and Roberts and Ranking Members Peterson and Stabenow for finding compromises on several contentious issues, and urge President Trump to give his endorsement so this much-needed legislation can be delivered to farmers, ranchers and all rural Americans."
"This is a great day for conservation on America's private, working lands," NACD President Brent Van Dyke said. "NACD welcomes the continued investment in the Conservation Title and appreciates the consideration given to the overall conservation delivery system. With the continued effects of a recession in the farm economy, strong agriculture policy ensures a safety-net for America's producers. We appreciate the members of the conference committee and their staffs for their commitment to bringing this important process one step closer to completion."
At a time of uncertainty for our nation's farmers, the agricultural economy, and rural America, this bipartisan Farm Bill will provide the much-needed confidence and certainty for many Americans who rely on its programs and funding," stated Biotechnology Innovation Organization (BIO) President & CEO James C. Greenwood. "As a result of BIO's advocacy, the conference committee provided mandatory funding for key programs in the Farm Bill's energy title. While BIO would have preferred the conference committee adopted the Senate-passed funding levels for the title, we applaud the conferees for understanding the importance of these programs and thank them for providing mandatory funding to allow these programs to continue."
"ICBA applauds today's bipartisan Senate vote to pass a new farm bill and urges the House to quickly pass the legislation for President Trump's signature," said Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey. "The bipartisan conference report includes important commodity price protections that will provide producers and community banks with greater business-planning certainty over the next five years. This is essential during an era of low commodity prices, sharply lower net farm income, and foreign trade uncertainties."
EPA and Army Propose New "Waters of the United States" Definition
On Tuesday, the EPA and the Department of the Army proposed a new definition of "waters of the United States" that clarifies federal authority under the Clean Water Act. Unlike the Obama administration's 2015 definition of "waters of the United States," this proposal contains a straightforward definition that would result in significant cost savings, protect the nation's navigable waters, help sustain economic growth, and reduce barriers to business development.
The agencies' proposal is the second step in a two-step process to review and revise the definition of "waters of the United States" consistent with President Trump's February 2017 Executive Order entitled "Restoring the Rule of Law, Federalism, and Economic Growth by Reviewing the 'Waters of the United States' Rule." The Executive Order states that it is in the national interest to ensure that the nation's navigable waters are kept free from pollution, while at the same time promoting economic growth, minimizing regulatory uncertainty, and showing due regard for the roles of Congress and the states under the Constitution.
The agencies believe this proposed definition appropriately identifies waters that should be subject to regulation under the Clean Water Act while respecting the role of states and tribes in managing their own land and water resources. States and many tribes have existing regulations that apply to waters within their borders, whether or not they are considered "waters of the United States." The agencies' proposal gives states and tribes more flexibility in determining how best to manage their land and water resources while protecting the nation's navigable waters as intended by Congress when it enacted the Clean Water Act.
More information including a pre-publication version of the Federal Register notice, click here.
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They also own and operate the Southern Oklahoma Livestock Market in Ada, Superior Livestock, which continues to operate independently and have a major stake in OKC West in El Reno. To learn more about how these folks can help you succeed in the cattle business, click here for their website or call the Oklahoma City office at 1-800-310-0220.
Agriculture groups welcomed the signing of a proposal to rework the Waters of the U.S. Rule. The Trump administration rolled out the proposal at the Environmental Protection Agency to much fanfare from agriculture and farm-state lawmakers.
The National Cattlemen's Beef Association called the proposal a "fresh start." NCBA says the new rule proposed by the Trump administration would protect private property rights, safeguard U.S. waters, restore state and local authorities and respect the intent of Congress in limiting jurisdiction to "navigable waters" in the Clean Water Act.
American Farm Bureau Federation President Zippy Duvall, who attended the signing of the proposed rule, says it will "empower farmers and ranchers to comply with the law, protect our water resources and productively work their land without having to hire an army of lawyers and consultants."
U.S. Secretary of Agriculture Sonny Perdue praised the announcement which he says fulfills President Trump's pledge to repeal and replace the Waters of the United States rule. House Agriculture Committee Chairman K. Michael Conaway applauded the proposed Clean Water Rule, as well, referring to it as "a hopeful new chapter for farm country."
Click or tap here to read more remarks from:
Oklahoma Cattlemen's Association
National Association of Wheat Growers
Texas and Southwestern Cattle Raisers Association
The National Cotton Council
The American Soybean Association
National Corn Growers Association
The 2015 WOTUS rule is currently in effect in 22 states. The EPA and Army Corps of Engineers are currently in the process of repealing the 2015 WOTUS rule.
Oklahoma Board of Agriculture Backs Off Vote on Emergency Rule for Poultry Setback- "Punt" Issue to State Lawmakers
Oklahoma Secretary of Agriculture Jim Reese ran into turbulence in his final State Board of Agriculture meeting as Secretary on Tuesday, as public opinion caused him to effectively withdraw Emergency Rules that would govern set backs on any new construction of large scale Poultry barns in the state. Reese told those gathered that 191 comments were submitted to the Board on the Emergency Rules- and 182 of them opposed passage.
Reese remarked that he was disappointed to have been unable to arrive at a consensus, acknowledging the highly contentious nature of the issue.
Acting on the collective suggestion by commenting ag groups, the Secretary moved to suspend the acceptance and processing of applications for new or expanding poultry feeding operations" until such time as the legislature establishes setback rules for new poultry facilities. The motion was amended to make the termination of the suspension May 31, 2019 and that was accepted- and the measure as amended was passed by a four to one vote.
to read the complete story for more details about yesterday's State Board of Agriculture meeting.
NCBA's Kevin Kester Lights Fire Under USTR to Get US - Japan Trade Deal Negotiations Underway
A host of agricultural groups testified recently before the US Special Trade Representative's Office, which is seeking industry input on a soon to happen US-Japanese negotiation that will hopefully result in a bilateral trade agreement between the two nations. President of the National Cattlemen's Beef Association Kevin Kester of California was one of those who testified, on behalf of the cattle industry. In a recent conversation, he remarked that getting a deal done with Japan as expeditiously as possible, is of the greatest importance to cattle producers who will face a significant disadvantage once the Trans-Pacific Partnership Trade Pact is finally ratified.
"It is extremely important because Japan is the No. 1 market for US beef overseas," Kester said. "This year in 2018, we're probably going to go a little over $2 billion of US beef into Japan. So, the US government and the government of Japan are getting ready to start formal negotiations on a bilateral trade agreement."
Initially, the US had been a part of the TPP, but withdrew once the Trump Administration took over. The framework of that agreement related to the beef sector, which had been built by US negotiators prior to their withdrawal, were and still are quite favorable terms. Now that the US is no longer a part of that pact, Kester says the other member countries, some of which are major US competitors, will now solely reap the benefits of those terms - putting US beef producers at a concerning disadvantage if a bilateral agreement is not soon negotiated. At present, foreign beef coming into Japan is subject to a 38.5 percent tariff rate. Once the TPP goes into effect, that rate will drop to just over 26 percent by April 2019 and then each year will decrease by roughly two percentage points until it reaches only 9 percent. Unless a bilateral agreement is made between the US and Japan, the US will be stuck at the original 38.5 percent. According to Kester, a delay in approving these negotiations could potentially cost the cattle industry hundreds of millions of dollars. He says the USTR's Office is well-aware of this distressing prospect.
"There is no doubt that the US Trade Representative's Office fully understands the importance and the pitfalls if we don't do something as quickly as possible in negotiations," Kester remarked. "So, we will engage with our negotiators on this trade deal with Japan and try to get it across the finish line just a quick as humanly possible."
Listen to Kester and I discuss the prospects of a bilateral US-Japan trade deal, on yesterday's Beef Buzz - click here.
|Dr. Amy Hagerman of Oklahoma State Looks Under the Hood at the 2018 Farm Bill Federal Farm Safety Net- and Finds Some Good Stuff
One down- two steps to go in wrapping up the process of turning the 2018 farm bill into the 2018 Farm Law. On Tuesday, U.S. Senate Agriculture Committee Chairman Pat Roberts, R-Kan., and Ranking Member Debbie Stabenow, D-Mich., announced the Farm Bill conference report passed the Senate on a strong bipartisan 87-13 vote.
Analysts like OSU Extension Ag and Food Policy Specialist Dr. Amy Hagerman are in the process of sorting out the details of how the new farm law will impact farmers and ranchers. Dr. Hagerman talked with Dave Deken of the SUNUP crew on Tuesday and says there are some really good things in the new legislation that will be helpful to Oklahoma farmers in enhancing the Federal Farm Safety Net.
One of the most useful parts of the measure is the opportunity to drop bad yield years that occurred because of drought if a farmer is in a county that has had an extended time of drought. In addition, there will be an extra dose of flexibility in being able to go from ARC to PLC or vice versa. Hagerman adds that Congress listened to farmers and the groups that represent them as they heard "do no harm" to Crop Insurance and that is exactly what happened in the new bill- Crop Insurance has been left pretty much the same as it was in the 2014 Farm Law.
There's more and you can hear Amy's analysis by clicking or tapping here.
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