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Check the Markets!
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.
Cash Grain Prices - as reported by the Oklahoma Dept. of
Agriculture. (including Canola
prices in central and western Oklahoma)
Oklahoma Farm Report Team!!!!
Senior Editor and Writer
Calendar and Template Manager
Markets and Production
Editor and Contributor
Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Wednesday, November 11, 2015
Veterans Day- Markets Stay Open- Banks and Uncle
Sam Take the Day Off
markets and our ag futures are open today as the Federal Government
and Banks are on holiday in honor of Veterans Day.
Veterans Day is not to be confused with Memorial Day; Veterans Day
celebrates the service of all U.S. military veterans, while Memorial
Day is a day of remembering the men and women who gave their lives
and those who perished while in service.
The origin of Veterans Day stretches back to World War I- It
coincides with other holidays including Armistice Day and Remembrance
Day, which are celebrated in other parts of the world and also mark
the anniversary of the end of World War I (major hostilities of World
War I were formally ended at the 11th hour of the 11th day of the
11th month of 1918, when the Armistice with Germany went into
effect). The United States also originally observed Armistice Day; it
then evolved into the current Veterans Day holiday in 1954.
Simply put- on this Veterans Day- if you have been in the military or
currently are serving- THANK
YOU for your service.
It's your sacrifice that allows us to live in the land of free and
the home of the brave.
God Bless Our
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USDA Boosts Corn and
Soybean Production Estimates, Markets Slide Lower
were looking for higher numbers in the latest crop production reports
from the U.S.
Department of Agriculture, but Tuesday's reports
exceeded expectations. Market Analyst Tom Leffler of Leffler
Commodities said there was nothing price friendly in the U.S. Crop
Production or World Agricultural Supply and Demand Estimate (WASDE)
reports. In response, the futures market made new contract lows in
corn, soybeans and Kansas City wheat.
U.S. corn production was forecast at 13.7 billion bushels, up less
than one percent from the October forecast, but down four percent
from last year's record production. Based on conditions as of
November 1, yields were expected to average 169.3 bushels per acre,
up 1.3 bushels from the October forecast but 1.7 bushels below the
2014 average. If realized, this will be the second highest yield and
third largest production on record for the United States. Area
harvested for grain is forecast at 80.7 million acres, unchanged from
the October forecast but down three percent from 2014. Leffler said
corn saw export sales lowered by 50 million bushels, feed and
residual usage increased by 25 million bushels and ethanol usage
dropped by 75 million bushels. He said this caused the nation's corn
ending stocks to come in at 1.76 billion bushels. That was an
increase of 199 million bushels over last month.
The U.S. has set a new record for soybean production and yield,
beating out last year's crop. USDA estimated the nation's soybean
production at a record 3.98 billion bushels, up two percent from
October and up one percent from last year. Based on November 1
conditions, yields were expected to average 48.3 bushels per acre, up
1.1 bushels from last month and up 0.8 bushel from last year. Area
for harvest in the United States was forecast at 82.4 million acres,
unchanged from last month. Leffler said exports increased by 40
million bushels, the crush was increased by 10 million bushels, but
that was not enough to offset the increase of 93 million bushels in
production. As a result, the nation's soybean ending stocks were
estimated at 465 million bushels, an increase of 40 million bushels
over last month.
The nation's wheat ending stocks were increased by 50 million bushels
over last month at 911 million bushels. Leffler said this was due to
the decline in exports by 50 million bushels. The nation's hard red
winter wheat stocks increased to a 16-year high and hard red spring
wheat stocks increased to a 25-year high. Leffler said the U.S.
numbers continue to show a larger crop and concern over demand for
especially wheat and corn.
Our Leslie Smith interviewed Leffer for reaction of both reports. Click
or tap here to listen to the full interview.
for the national crop production report.
for the latest WASDE report.
USDA Expects Beef
and Pork Production to Fall While Broiler Output Rises
is predicting beef production lower for the current year and into
2016 as well- based on lower marketings coming out of feedlots. Pork
production is also expected to be lower, while broiler output is
headed higher. Here is the actual text of the November WASDE report
for the meat and milk segments of the ag economy.
"The total meat production forecasts for 2015 and 2016 are
little changed from last month due to largely offsetting changes in
red meat and poultry. Beef production for 2015 and 2016 is lowered on
slower expected marketings from feedlots into early 2016. However,
the slower pace of slaughter is partly offset by higher expected
carcass weights. Pork production is lowered for 2015 on a slower
expected pace of slaughter and slightly lighter carcass weights
during the fourth quarter. The forecast for 2016 is unchanged.
However, broiler production is forecast higher for both 2015 and
2016. September production was higher than expected, and hatchery
data points to higher production into early 2016. Turkey production
in September was also higher than expected, which boosted 2015
production, although no change was made to the forecast quarters. Egg
production for 2015 is adjusted based on lower September hatching egg
production, but production forecasts into 2016 are unchanged.
"Beef imports for 2015 are reduced to reflect the pace of trade
to date; the forecast for 2016 is unchanged. Beef exports for 2015
are lowered as demand remains relatively weak; no change is made to
2016. Pork import and export forecasts are unchanged, but small
adjustments are made to third-quarter 2015 to reflect September trade
data. Broiler exports for 2015 and 2016 are reduced from last month
as the pace of ex port recovery has been slower than
here to read more about cattle prices, hog prices and milk
production forecasts for 2015 and 2016.
Oklahoma Cotton Yield
Jumps a Hundred Pounds an Acre in November Report
The month of October proved to be a really great month for the 2015 Oklahoma cotton crop-
as the yield of lint per acre jumped 110 pounds per acre from the
October first to November first report- that is up over fifteen
percent from just a month earlier.
It also means that the size of the 2015 crop is almost 200 pounds an
acre larger than the 2014 crop. The 2015 production is now pegged at
330,000 bales of cotton, up from the 285,000 bales predicted in
October and the final 2014 crop of 269,000 bales. (23% bigger crop
than the 2014 output)
Keep in mind that this was the first time in four years that
irrigation water was available in the Jackson County area from Lake
Altus- plus dryland areas in many areas enjoyed a pretty good growing
None of the other spring planted crop numbers from Oklahoma were a
lot different from the October report- click
here for a summary of both Oklahoma and Texas state numbers
coming out of the November report released on Tuesday.
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Association Celebrates Outstanding Year for Breed
Angus Association (AAA) is celebrating an outstanding
year. In coming off the end of the 2015 fiscal year, Interim Chief
Executive Officer (CEO) Richard
Wilson said every metric that measures success and
growth has been positive this past year.
"I know that we have a lot of reason to be successful with the
genetics of the Angus cow and propelling us forward, but I've got a
strong membership who can do a good job in producing this animal and
all of the efficiency involved and a lot of consumer demand for our
end product," Wilson said.
With the nation's expanding cow herd, Wilson believes they will be
able to meet consumer demand with Angus genetics. Wilson is very
proud of the Angus breeders that have embraced technology. For
example, a growing number of Angus cattle are being genomically
tested and that data is utilized by the AAA for genomic-enhanced
Expected Progeny Difference (EPD). More and more Angus producers are
providing that information to their bull buyers. The AAA registered
360,000 plus head of Angus cattle this past year. He said about one
fourth were genomically tested. Five years ago, that number was
slightly over one percent.
I caught up with Wilson at the Angus Means Business Convention
in Overland Park, Kansas. Click
or tap here to listen to today's Beef Buzz. At the convention, we
also talked about Certified Angus Beef and the new American Angus
Association CEO Allen
Moczygemba, who will begin his new role on December
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to cover the energy business here in the southern plains- Click here to
subscribe to his daily update of top Energy News.
USDA Reminds Dairy
Producers of Nov. 20 Margin Protection Program Enrollment Deadline
Department of Agriculture (USDA) Farm Service Agency
(FSA) Administrator Val
Dolcini Tuesday announced that almost half of all
dairy farms in America have made their annual elections for 2016
coverage under the Margin
Protection Program, and reminded producers who have
not yet enrolled that they have until Nov. 20, to select coverage.
Established by the 2014 Farm Bill, the program provides financial
assistance to dairy producers when the margin - the difference
between feed costs and the price of milk - falls below the coverage
level selected by the applicant.
"This safety net is not automatic, so producers must visit their
local FSA office to enroll before Nov. 20," said Dolcini.
"Despite the best forecasts, the dairy industry is cyclical and
markets can change quickly. This program is like any insurance
product, where investing in a policy today will protect against
catastrophic economic consequences tomorrow."
FSA estimates that based on current participation rates, had the
program existed before the 2014 Farm Bill, producers in 2009 would
have invested $73 million in premiums and received $1.44 billion in
financial protection during that historically weak market
here to read more about the Margin Protection Program.
This N That - High Fire
Danger Blowing In- and It's Big Iron Wednesday,
Dry conditions coupled with warm November temps and
STRONG gusty winds add up to High Fire Danger across a broad part of
Oklahoma today- here's the map of Oklahoma as shown by our weather
friend Travis Meyer from the News on 6 in Tulsa-
in the Tulsa region have a Red Flag Warning in place today- those
counties include Osage, Washington, Nowata, Tulsa, Pawnee, Creek,
Okfuskee and Okmulgee.
High Wind Watch and Wind Advisories are in place for many of the
northwestern counties of the state in the News9 portions of Oklahoma.
Besides the Fire Danger- the other reality of a day like today after
a period of dry weather- BLOWING DIRT- that will be happening across
a lot of north central and northwestern Oklahoma as this front rolls
here for the real time wind speed map from the Oklahoma Mesonet-
as we finish our email up this morning- the winds are still mostly
from a southerly direction- but from west to east- that will be
changing as the day goes by- and those wind speeds will be picking up
It's Wednesday- and that means the Big Iron folks
will be busy closing out this week's auction items - all 414
items consigned. Bidding will start at 10 AM central
for the complete rundown of what is being sold on this no reserve
online sale this week.
If you'd like more information on buying and selling
with Big Iron, call District Manager Mike Wolfe at 580-320-2718 and he
can give you the full scoop. You can also reach Mike via email
by clicking or tapping here.
thanks to Midwest Farms Shows, P & K Equipment, American Farmers
& Ranchers, CROPLAN
by Winfield, KIS Futures, Stillwater Milling Company, Farm Assure. Pioneer Cellular, National Livestock
Credit Corporation and the Oklahoma Cattlemen's Association for
their support of our daily Farm News Update. For your convenience, we
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