Oklahoma's Latest Farm
And Ranch News
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Tuesday, January 30, 2024 | | | |
Plan Now to Manage 2024 Forage Costs |
Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry as part of the weekly series known as the “Cow Calf Corner,” published electronically by Dr. Peel and Mark Johnson. Today, Dr. Peel talks about managing forage costs in 2024.
Cattle prices are expected to average higher in 2024 compared to 2023, which means that cow-calf producers are expecting increased returns and profitability. However, profit maximization implies careful cost management regardless of the revenue potential. The biggest cost component of cow-calf production is feed costs and specifically, harvested, and supplemental feeds. January may seem early to start planning grazing for the coming growing season but the ability to minimize non-grazing feed costs will depend on comprehensive grazing plans and management for the entire year.
The economic basis for cow-calf production is growing grass and using cows to harvest the grass. Feed costs are typically the largest component of annual cow costs in cow-calf operations. Total feed cost includes grazing cost, harvested forage and purchased supplemental feed. Producers can minimize annual feed costs by managing for maximum grazing; with minimal use of hay and supplemental feed to seasonally overcome lack of forage quantity and/or quality.
Planning grazing management now for the growing season and beyond can significantly influence hay needs next winter. Summer grazing management will set up the potential for stockpiling forage for fall and winter grazing. For introduced forages, strategic fertilization can be used to increase forage quantity and quality beyond the growing season. Grazing of native range can be deferred to save forage for later use. Of course, grazing management must be planned and implemented according to the wide range of forage types as well as climate and soil conditions where cattle production occurs. In all cases, proper stocking rates are critical to achieve grazing management objectives. It is important to assess forage condition and production potential in order to develop realistic grazing management plans. The assessment should be completed now, i.e. prior to or at the beginning of the growing season.
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We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-
if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
Today's report begins our coverage from Orlando and CattleCon 2024- Ron talks to Ethan Lane of NCBA.
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Sponsor Spotlight
The Oklahoma Agriculture Mediation Program knows this is a hard time for farmers and ranchers. We want you to know we are still open, and we are still here for you. The Ag Mediation program is a free service that provides mediation to agriculture producers who may need help with ag-related disputes.
At Oklahoma Ag Mediation, we have been helping people in agriculture resolve conflicts since 1987. We know firsthand about working together to resolve conflicts, so you don’t have to go through the court systems. Let our professional mediators help you. Mediation is allowed for lease issues, farmer/neighbor disputes, family farm transitions, and more. These services are available at no cost for Oklahoma farmers and ranchers in all 77 counties. For more information, you can go to ok.gov/mediation, or give us a call at 800 248 5465.
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Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is a big reason why Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity dives into these stories, bringing you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America.
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
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Cattle Industry Leader Bob Drake sits down and talks with Ron Hays about his lifetime of service in the cattle business. Drake has served as the President of the Oklahoma Cattlemen's Association, the last President of the old National Cattlemen's Association and Vice President of the Oklahoma Farm Bureau.
He loves politics and being a change agent for the cattle producer back up at the fork of the creek. Drake had a front row seat as the Beef Checkoff was approved by cattle producers and he believes it's way past time to find a way to get a second dollar at the national level.
Search for Road to Rural Prosperity and subscribe on your favorite Podcast platform.
To hear this podcast, you can click here or tap below:
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We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
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God Bless!
Reach Out To Us:
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Tim West
President/General Manager
Rural Oklahoma Networks
405-317-6361
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Mike Henderson
Director of Sales
405-615-4922
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KC Sheperd
Farm Director
Radio Oklahoma Ag Network
405-443-5717
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Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
405.473.6144
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