I talked this past week with Dakota Moss of Livestock Risk Services about the impacts of the recent drop in cattle prices.

Livestock Risk Protection is a nationwide price protection offered by USDA and is built for any size of operation.

“We have seen a dramatic fall in the cattle market over the last 90 days, so the producers have been utilizing the LRP program,” Moss said. “I have seen significant payments on these cattle, especially for producers who turn cattle every 90 to 120 days. They insured those cattle back in September for some December maturity dates.”

Depending on the coverage level those producers who insured cattle back in September selected, Moss said they are seeing payments from 20 dollars up to 44 dollars cwt.

“These are some very significant payouts for LRP, and so it has definitely shown that the program very much works as intended, especially when producers are utilizing some risk management,” Moss said. “They can definitely protect themselves and pencil out kind of a budget on these cattle. Unfortunately, with this downturn, it has definitely come into play.”



Oklahoma Farm Bureau works to improve the lives of all Oklahomans by supporting our state’s agriculture community. As Oklahoma’s largest general farm organization led by Oklahoma farmers and ranchers, OKFB takes grassroots values and advocates for agriculture at the state Capitol and in Washington, D.C., to ensure our way of life continues for generations to come. Farm Bureau hosts leadership events, supports our state’s agricultural youth and connects consumers with agriculture in order to build a brighter future for our state. Become an OKFB member today online at okfarmbureau.org/join. Together, we are rural Oklahoma.



While the Oklahoma hog inventory has dropped 8% in December 2023 versus a year ago- the US hog herd is a few thousand head larger this December versus last year- this according to the USDA Quarterly Hogs and Pigs Report.

Of the 75.0 million hogs and pigs, 69.0 million were market hogs, while 6.00 million were kept for breeding.

For Oklahoma- the numbers are well under that of December 2022. The total hog herd in Oklahoma is down 8% from a year ago at 2.010 million head-making Oklahoma the eighth largest hog inventory state in the US.

More extreme for the Oklahoma hog story is the decline in breeding animals. A year ago, Oklahoma was tied with the fourth most sows in the US at 490,000 head. Fast forward to the latest report and USDA reports only 390,000 sows in the state- a drop of 100,000 and dropping Oklahoma to seventh place in the US ranking of breeding animals.

Beef Industry 2023 Year in Review- and a Look Into 2024

On today’s Cow-Calf Corner, Dr. Mark Z. Johnson, Oklahoma State University Extension Beef Cattle Breeding Specialist reviews 2023 and looks ahead to the new year in the beef cattle business:

The end of 2023 arrives at a time when we, as cattle producers, have a great deal to be thankful for. Strong cattle prices and historically strong profit opportunities have made headlines in the past year.

Overall, 2023 should close out as profitable year for all segments of beef cattle production (cow-calf producers, stocker operations and cattle feeders). This is historically rare. Current low cattle inventories indicate high value of cattle of all classes for the next several years. The market value of purebred seedstock should be supported in the future as the nation re-populates with cows.

The drought released its grip on Oklahoma during 2023, timely rains and good management permitted recovery of grazing lands and our hay inventory ebbed back higher.

As we look forward to 2024 in the cattle business, keep the in mind that when the nation’s cow herd inventory starts to increase remains in question. What is certain however is the opportunity to “rebuild better.” Sound selection and mating decisions now will enable you to regrow cow numbers with a biological type that fits your production environment, management and marketing plan. Mature cow size, level of milk, fertility and breed composition all contribute to cows that best fit your production environment.

Scott Hays is a fifth-generation pork producer from Missouri and has been involved in many aspects of production. While owning sows and production facilities, he enjoys involvement in the family’s sixth-generation swine management, swine building maintenance, and livestock hauling business operations.

He serves as the President of the National Pork Producers here in 2023-2024 and he recently talked with our intern Maci Carter and gave an update on California’s Proposition 12.

Hays talked with our intern Maci Carter and gave an update on California’s Proposition 12.

“We are still working on Prop 12,” Hays said. “It is a problem for not only producers but for consumers as well. We are starting to get some information out of California, and I think those folks are going to have some buyer’s remorse.”

The price of pork in California is up as much as 27 percent, Hays said, while the rest of the country is seeing close to a 2 percent decrease in the price of pork. Hays said that issues do not stop at the price, as there are also a few availability issues.



“Prop 12 won’t be fully implemented until after the 1st of the year, so we are working with Congress right now through the Farm Bill to try to get a fix,” Hays said.

In September of 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, more commonly known as “FinCEN,” issued the Beneficial Ownership Information Reporting Rule[i] (“Reporting Rule”) under the bipartisan Corporate Transparency Act[ii], requiring disclosure of the identity of beneficial owners of small business entities. This new rule is intended to prevent the operation of shell companies by criminal actors such as terrorism financiers, drug traffickers, human traffickers, money launderers, and the like. The Treasury Department estimates that criminal actors generate $300 billion in illicit proceeds through shell companies every year. 

It is important to note that agricultural business entities are not exempt from this Reporting Rule which requires disclosure beginning on January 1, 2024. If your farm, ranch, or agricultural operation is set up as a legal business entity (such as an LLC, LLP, business trust, corporation, etc.) created through your state corporation commission, secretary of state, or other similar office, your operation is likely subject to the new Reporting Rule. There are 23 specific entity types exempt from the Reporting Rule, largely composed of publicly traded entities, financial institutions, insurance companies, tax-exempt entities, and large operating companies, but there are no specific exemptions for agricultural entities. 

There are several online tools available to help you determine if your operation is a reporting entity as defined by the rule. If you determine that your operation is subject to the Reporting Rule, you must identify and report the beneficial owners of your farming and ranching business. A beneficial owner is any individual who exercises substantial control over the entity or who owns or controls 25% or more ownership interest in the entity. Those exercising substantial control include those who are senior officers, those with authority to appoint or terminate senior officers, important decision-makers, and those who otherwise uniquely exercise substantial control over the entity through contracts, relationships, or other agreements or arrangements. The rule provides limited exceptions for minor children, agents, employees, inheritors and creditors. Entities must report the beneficial owners’ name(s), date(s) of birth, address(es), and government-issued identification(s) such as a U.S. passport or driver’s license.

Elite Offerings Available in January From the Angus Foundation- Including at Cattlemens Congress

January brings a number of opportunities to support the Angus Foundation’s mission to advance Angus education, youth and research. With offerings available in conjunction with both Cattlemen’s Congress in Oklahoma City, and the National Western Stock Show in Denver, next month promises to set the tone for another year of Angus generosity.

Angus Foundation Heifer Package

Each year the Angus Foundation Heifer Package leads the National Angus Bull Sale. The 2024 heifer package will be donated by Yon Family Farms of Ridge Spring, South Carolina. The heifer, Yon Sarah K1233 (AAA *20450734), is a maternal sister to both Yon Top Cut G730 and Yon Saluda. Yon Sarah K1233 is safe in calf to Yon Toccoa F1054, with an anticipated due date of March 21, 2024.

The heifer package also includes an Advanced Reproductive Technology Package from Trans Ova Genetics, trucking to the buyer donated by Lathrop Livestock Transportation and 30 days of mortality insurance donated by Jeanne Conover, Livestock Insurance Agent with Conover Auction Service.

The sale starts at 2:00 p.m. on Friday, January 5, 2024, at the Cattlemen’s Congress in Oklahoma City. To learn more about the Angus Foundation Heifer Package- Click here.