~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Tuesday September 21, 2010A service of Producers Cooperative Oil Mill, Midwest Farm Shows and Big Iron OnLine Auctions!
-- Wheat Planting Has Begun
-- Farm Leader's Question Cut From Obama Town Hall Broadcast
-- Oklahoma's Boll Weevil Watchers Have Found No Weevils in 2010.
-- USDA Paints Positive Picture for Beef Exports Balance of the Year
-- More than a Million Jobs Will Vanish If the Federal Estate Tax Returns in 2011
-- College Grads in Ag Are Finding Jobs- and Good Salaries to boot.
-- Big Iron Auction Starts Closing Out Items This Week on Wednesday Morning
-- Let's Check the Markets!
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are proud to welcome Big Iron Unreserved Online Auctions as our newest sponsor of the daily Email. Their next auction is Wednesday, September 22- featuring Low Hour, Farmer Owned Equipment. Click here for their website to learn more about their Online Farm Equipment Auctions.
We are also excited to have as one of our sponsors for the daily email
Producers Cooperative Oil Mill, with 64 years of progress through
producer ownership. Call Brandon Winters at 405-232-7555 for more
information on the oilseed crops they handle, including sunflowers and
canola- and remember they post closing market prices for canola and
sunflowers on the PCOM
website- go there by clicking here.
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Wheat Planting Has Begun
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The latest Oklahoma Crop Weather Update shows a return to hot dry conditions in recent days. Hot and sunny weather was experienced across Oklahoma over the past week, with some rainfall interspersed. Average temperatures were again in the mid- to high-70's with a high of 103 recorded in Freedom. Each of the nine districts received measurable rainfall, however only three districts received more than half an inch of rain with the Northeast district receiving 1.38 inches. The light rainfall and sunny days allowed producers to get in the fields for planting of fall crops and harvesting of summer crops. Some producers are still waiting on additional moisture or cooler temperatures before beginning planting. Both topsoil and subsoil moisture conditions continued to be rated mostly in the adequate to short range.
The big story of the weekly report is compilation of wheat planting stats for the 2011 crop. In Oklahoma, many producers have begun fall planting after the beneficial rainfall of the previous week. Wheat seedbed preparation was 75 percent complete by week's end, and 13 percent of wheat was planted, seven points behind normal. In Texas, one fourth of the crop has now been planted- and that is one percent ahead of the five year average. Finally, in Kansas- they have begun as well- with 11% planted already- two percentage points behind their five year average.
"Harvest is underway for most row crops as conditions continued to be
rated mostly in the good to fair range. Ninety-two percent of corn had
matured by Sunday, 17 points ahead of normal. Corn harvest was 64 percent
complete by week's end, 17 points ahead of the five-year average. Sorghum
coloring reached 83 percent complete, and 44 percent of sorghum had
matured by Sunday, 16 points ahead of normal. The sorghum harvest was 17
percent complete by the end of the week, six points ahead of normal. The
soybean crop was virtually finished setting pods by the end of the week.
Twenty-six percent of the crop had matured, and seven percent was
harvested by Sunday. Forty-eight percent of peanut plants had matured by
week's end, on track with the five-year average. Three quarters of the
cotton bolls were opening by week's end, 31 points ahead of
Click on the LINK below to jump to the latest Oklahoma Crop Weather Update as issued by USDA.
Farm Leader's Question Cut From Obama Town Hall Broadcast
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~President Obama's insistence Monday during a town hall forum broadcast live on CNBC that his economic proposals are not anti-business or anti-Wall Street and that his policies need more time to bear fruit didn't go over well with Kansas Farm Bureau President Steve Baccus.
At CNBC's request, Baccus taped a question to Obama that didn't make the hour-long broadcast. Baccus asked why the President talked about wanting to help small businesses and farms- and then allowed his Administration to add more and more regulations and costs to doing business- to the point that survival was getting more and more difficult.
The question that the farm leader submitted did not make it- and Baccus
says one of the reasons was that the President was too busy making
campaign points instead of listening to the people.
Oklahoma's Boll Weevil Watchers Have Found No Weevils in 2010.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~No Weevils is the bottom line being talked about by the Oklahoma Boll Weevil Eradication Organization- and reported in their latest board meeting in Hobart. Meeting Sept. 16, the board recommended upgrading Oklahoma's eradication status to functionally eradicated statewide from active eradication in eastern counties and suppressed status statewide, according to Joe Harris, OBWEO director. Harris adds that Texas is doing the same in their northern and western zones.
To date, no boll weevils have been caught in the 2010 cotton season,
Harris said. Trap density is one to 60 acres in five southwest counties
and one to 80 acres elsewhere on approximately 272,000 acres,he reported.
Click on the LINK below to learn more about the new tracking system that will be functional in the coming crop year- which should make it quicker and easier to monitor the traps that will be established in cotton growing areas of the state. The increase in acres in Oklahoma in recent years is due in part to the efforts of riding ourselves of the boll weevil.
USDA Paints Positive Picture for Beef Exports Balance of the Year
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~This past Friday- USDA painted a very positive picture(no real surprise there) of beef exports streaming out of the United States this year. In a report release by the Economic Research Service- "In 2010, exports of U.S. beef are forecast to increase 17 percent year-over-year, totaling 2.26 billion pounds. Beef exports through July were nearly 17 percent higher year-over-year. Beef imports for 2010 are forecast at 2.54 billion pounds and with tighter beef supplies in 2011 are forecast to increase 8 percent, to 2.75 billion pounds. Through July, beef imports were 12 percent below year-earlier levels and cattle imports nearly 17 percent higher year-over-year."
The ERS report also dealt with higher feed costs and how that might impact marketing of feeder cattle. "Current crop production estimates indicate crop yields lower than those estimated last month. To the extent feed grain supplies are tighter than previously expected, demands for feeder cattle will be affected by higher corn prices and livestock costs of grain." The report speaks of higher corn costs making gains on pasture more attractive- which ends up meaning feeder cattle are heavier when they finally come to market as yearlings- ready for the feedlot. Heavier yearlings means fewer days needed in the feedlots with higher priced corn to be fed.
The ERS report adds this note about potential profits in the feedlots- even with higher feed costs- "higher corn prices generally provide incentive for shorter rather than longer feeding periods. This relationship between corn prices and feeding periods underlies the logic of placing heavier off-grass feeder cattle when corn prices are relatively high. Despite the significant increase in second-quarter 2010 placements over 2009 and 2008 placements, the extended favorable grazing season may provide feedlot placements of relatively large numbers of heavy feeder cattle during August and September. With current hedging opportunities, these cattle could provide positive cattle feeding margins into next year, despite higher corn prices."
More than a Million Jobs Will Vanish If the Federal Estate Tax Returns in 2011
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~As many as 1.5 million additional jobs could be lost if Congress allows the Federal Estate Tax to return next year, according to a new study by the American Family Business Foundation (AFBF).
"With fears of a double dip recession on the horizon, the last thing America needs is for Congress to threaten family-owned businesses with a huge tax increase, an increase that could put more jobs on the chopping block," said report author Douglas Holtz-Eakin, former director of the Congressional Budget Office.
Under the Economic Growth and Tax Relief Reconciliation Act (EGTRRA),
the estate tax expired at the end of 2009 but will return in 2011 at a
rate of 55 percent on all assets over $1 million.
The study concludes that If the estate tax were reinstituted at a 65 percent rate, more than 1.6 million jobs would be lost. If Congress takes no action and the estate tax returns to the pre-EGTRRA rate of 55 percent (60 percent for certain estates), between 1.4 million and 1.5 million jobs would be lost. Various compromise rates also produce job losses: nearly 1.2 million jobs would be lost at 45 percent; 900,000 jobs at 35 percent and 367,000 at 15 percent.
College Grads in Ag Are Finding Jobs- and Good Salaries to boot.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~That seems to be the bottom line of a report issued by Iowa State University about salaries of young men and ladies who graduated from a Land Grant Ag Division in December 2009 and May 2010. The study included 14 Land Grants across the US- including data from Oklahoma State University. Overall, the average for all reported hires from across the country came in just over $36,000 annually.
Iowa State's Mike Gaul, career services director, said there are impressive salaries reported for numerous agribusiness sectors, food science, agronomy and technology-related majors. Starting average salaries for at least two disciplines, Ag Economics and Ag Education and Communications topped $40,000 annual starting salary- while those coming out of Agronomy and Crop Sciences averaged just a few dollars shy of $40,000 for that starting salary.
The lowest starting salaries for Ag Grads reported in 2009-2010 by the
Iowa State study were found in Biological Sciences at a starting annual
salary of $29,699 and Environmental Sciences, Fisheries, Forestry and
Wildlife Biology- starting salary on average for this group was $29,489.
Click on the LINK below to see specifics for seven different majors- what
the salaries and types of jobs young people were getting- and the
companies that were hiring.
Big Iron Auction Starts Closing Out Items This Week on Wednesday Morning
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Almost 400 items will be sold in this week's Big Iron sale online to the highest bid- with no restrictions. Tractors, ATVs, Grain Drills, Hay Equipment and more are listed this week- so go to their website by clicking on the LINK below and checking out what is available- most items have bids already on them. You can easily join the bidding process by registration.
On Wednesday morning- the first 2 items close at 10:00 am CST- each 2
items following will close at 1 minute intervals there after unless time
Our thanks to Midwest Farms Shows, PCOM, P & K Equipment/ P & K Wind Energy, Johnston Enterprises, American Farmers & Ranchers, KIS Futures and Big Iron Online Auctions 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- FREE!
We also invite you to check out our website at the link below to check out an archive of these daily emails, audio reports and top farm news story links from around the globe.
Let's Check the Markets!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We've had requests to include Canola prices for your convenience here- and we will be doing so on a regular basis. Current cash price for Canola is $8.25 per bushel, while the 2010 New Crop contracts for Canola are now available are $8.90 per bushel- delivered to local participating elevators that are working with PCOM.
Here are some links we will leave in place on an ongoing basis- Click
on the name of the report to go to that link:
God Bless! You can reach us at the following: