~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Thursday July 7, 2011A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- Meetings Here and There- AND Everywhere
-- U.S. and Mexico Sign Agreement on Mexican Trucks Hauling Goods into U.S.
-- Research Findings says a Decrease in Land Value Over Next Decade Possible
-- Joel Haggard, USMEF, says Beef and Pork Market in China is a Must for U.S.
-- Oklahoma Forestry Services Offering Assistance After Medicine Park Wildfire
-- Sorting Out the Surprise Versus the Reality of Last Week's Corn Stocks Numbers From USDA
-- Vote Today- AND Tomorrow!
-- 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 pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update- click here to go to their AFR web site to learn more about their efforts to serve rural America!
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Meetings Here and There- AND Everywhere
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~There are a boatload of meetings that could have impact on agriculture going on today- many of them happening in Washington- and one in Austin, which is where we are writing this email from early on this Thursday morning. The meeting here is about the drought that grips not just the western half of Oklahoma, but also large parts of New Mexico, Texas and Louisiana. This Drought Impacts and Assessment Workshop is a joint effort of the National Weather Service and several other groups that are tracking and measuring the drought we have experienced to this point in 2010 and 2011. We'll have more from an agricultural perspective later from this meeting- and you can follow some of our thoughts from here on our Twitter account- click here to get to that stream that will have those updates as the day progresses.
On the Free Trade Agreement front- The House Ways and Means Committee and the Senate Finance Committee will both consider the draft implementing bills for the South Korea, Colombia and Panama Free Trade Agreements on Thursday. While the Senate discussion will include Trade Adjustment Assistance - the House discussion will not. In announcing the Senate's new date for a "mock" markup of the pending trade deals and TAA - Chairman Max Baucus said it was past time to get the package moving. He said our competitors are gaining ground and noted the agreements will grow our economy and create jobs. Baucus previously had scheduled a markup for last week. Republicans decided to boycott that meeting and Baucus was forced to cancel the session. This is the first scheduled meeting for House Ways and Means on the agreements.
The House Ag Committee has a couple of farm program "audits" planned for today- this morning at 9 AM central- they will examine Conservation Programs while after lunch they turn their attention to Specialty Crops.- Click here for the schedule details- and click here for the web audio and video feeds available from the Committee website.
One other meeting that we understand will be happening this morning is yet another look at the GIPSA rule on the marketing of livestock. This hearing is being held by the Small Business Subcommittee on Agriculture, Energy and Trade- starts at 9 AM central time- here's a link to some details of the session that will feature Edward Avalos of USDA as the lead defender of USDA in this expected "beatdown" of the agency over their plans to put into place the GIPSA rule proposed June one year ago.
U.S. and Mexico Sign Agreement on Mexican Trucks Hauling Goods into U.S.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The U.S. and Mexico governments signed an agreement today resolving the long-standing dispute between the two nations over a trucking provision of the 1994 North American Free Trade Agreement. The signing of this agreement will allow Mexican trucks to haul goods into the U.S. and that cuts Mexico's tariffs on U.S. exports in half.
Many agricultural groups are pleased with the agreement because it will reduce the amount of tariffs on agricultural products. Also, many representatives of the agriculture industry released statements on their thoughts of this new agreement between U.S. and Mexico, including American Farm Bureau, National Pork Producers Council and Ag Secretary Tom Vilsack.
American Farm Bureau
Research Findings says a Decrease in Land Value Over Next Decade Possible
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Agriculture land prices in the U.S. have increased steadily over the last decade, leading experts and landowners to question whether the high values are sustainable. The short answer from the Rabobank International Food & Agribusiness Research and Advisory (FAR) group is that the land value rates are not a speculative bubble, but a decrease in land values over several years is a definite possibility.
The FAR group's research concludes the steady increase of agricultural land values over the past five years is not linked to speculation or other factors that traditionally result lead to a bubble. However, the research does point to factors that could combine to drive a decrease in land values over the next decade. If land values do adjust down over the next three to seven years, the reduction in value will be moderate and not a crash.
The findings are based on the FAR team's global agribusiness
marketplace report, "Blowing the Farmland Bubble." As the leading provider
of financial services for the global food and agriculture industry,
Rabobank created and maintains the FAR unit to conduct ongoing research
and analysis on issues of importance to agriculture around the world. Rabo
AgriFinance, part of Rabobank, provides this exclusive information to its
client producers and agribusinesses in the U.S.
Joel Haggard, USMEF, says Beef and Pork Market in China is a Must for U.S.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The opportunities available in Asia, especially mainland China, for the U.S. beef and pork markets have been growing since 2010. In the first four months of 2011 alone, the year-over-year beef export value jumped by 67 percent, to nearly $750 million. We talked to Joel Haggard, U.S. Meat Export Federation (USMEF) senior vice president for the Asia Pacific region, about the access challenges for U.S. beef and pork.
Japan, Korea, Taiwan and China are all countries that USMEF are working with to gain full market access for beef and pork. Haggard says access conditions are still very much in flux because of various reasons, such as politics, food safety reasons or changing regulations.
Currently, there is no market access at all with mainland China for
U.S. beef and pork. However, Haggard says the potential is there and the
market in China is one that the U.S. can not afford to be out of. The
market in China is very different from seven to eight years ago and it is
continuing to move forward, Haggard says.
Oklahoma Forestry Services Offering Assistance After Medicine Park Wildfire
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma Forestry Services (OFS), a division of the Oklahoma Department of Agriculture, Food, and Forestry, can help landowners who may have sustained damage to their trees during the recent Medicine Park wildfire.
After a wildfire, OFS can assist landowners with steps to protect their property from further damage due to erosion, how to remove or salvage trees that were lost or damaged and how to recover from wildfire damage.
"The first step is to assess the damage," said Tom Murray, OFS
forester. "Recovery actions you may take, such as erosion control and
replanting, depend heavily on the amount of damage caused by the
Sorting Out the Surprise Versus the Reality of Last Week's Corn Stocks Numbers From USDA
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~It is an understatement to say that last week's USDA estimate of June 1, 2011 corn stocks was a surprise to the market. At 3.67 billion bushels, the estimate was about 370 million bushels larger than the reported average trade guess.
Before examining the implications of the report, it is important to understand some of the basic methodology for making the stocks estimate. As spelled out in the Grain Stocks report, the estimate of quarterly stocks is based on separate surveys for off-farm and on-farm stocks.
The USDA indicates that there is a 95 percent chance that June 1
on-farm survey estimates for corn will be within 4.6 percent of the value
that could be developed by averaging the estimates produced from all
possible samples of the population. Both off-farm and on-farm survey
results are subject to non-sampling errors, such as reporting and
Vote Today- AND Tomorrow!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~You can vote both today and tomorrow for an Oklahoma lady who is a finalist in the National Beef Cookoff. We told you a few days back about Leah Lyon of Ada, Oklahoma who is one of the National Finalists in the 2011 National Beef Cookoff Contest. Leah's recipe is competing in the Retro Recipes Revived category.
Leah's entry is called Beef Stroganoff Nuevo- and with the help of some Salsa Verde, she has delivered a southwestern twist to this classic beef dish. Click here for the full listing of the finalists- scroll down and you will see Leah's entry- you can click on the name of the recipe to see the actual details of it- or you can just click on the "Vote" button to register your support of this lady from the Sooner State.
Oh- By the Way- lots of folks went and looked at our drought pic from Paul Jackson and his rapidly drying up pond in south central Oklahoma- if you have any pictures that show the drought on your place- send them to me and I will share with our email family. Send them to the email address listed at the bottom of today's email- or copy and paste the address here into your email editor- email@example.com
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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 $12.87 per bushel- as of the close of trade Wednesday, while the 2012 New Crop contracts for Canola are now available are $12.53 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:
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