~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Monday July 28, 2008!A service of Producers Cooperative Oil Mill, Farm Credit Associations of Oklahoma and Midwest Farm Shows!
-- Cattle On Feed A Neutral Affair
-- Former Secretary Ann Veneman- maybe an Obama Running Mate???
-- HEAR Ye- High Eurcic Acid Rapeseed Production May Work For Oklahoma Wheat Producers.
-- Dewald on RFS Waiver Talk and Oklahoma Cattlemen Convention Coming End of This Week.
-- WTO Negotiators Continue to Meet Over the Weekend- More Obstacles Found Along the Way.
-- Oklahoma and Kansas Senators Move to Introduce Legislative Full Reinstatement of Critical Feed Use program
-- Express and Other Oklahoma Limousin Breeders Claim Top Honors at All American Show.
-- Let's Check the Markets!
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Cattle On Feed A Neutral Affair
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~OSU Extension Economist Dr. Derrell Peel offers these comments about the Friday afternoon Cattle on Feed Report From USDA. In the first of two USDA reports released on July 25, the July Cattle on Feed report confirms a continued decline in feedlot inventories. The July 1 on-feed total was 10.3 million head, 96 percent of one year ago. June placements were down 8.6 percent from a year earlier, while marketings were down 8 percent. Feedlot marketings should remain at a slower pace for most of the balance of the year, while placements could increase seasonally in the fall as summer grazing cattle are marketed in the third quarter. However, increased yearling placements this fall may be offset by reduced weaned calf placements as cow- calf producers retain ownership for forage-based stocker gains.
USDA also released the mid-year Cattle inventory report. Generally the report was well anticipated and suggests that the cattle industry is in station-keeping mode with no signs of expansion nor significant indications of liquidation. The estimated July all cattle and calves inventory is virtually unchanged from last year at 104.3 million head. Estimated beef cows are down slightly more than 0.5 percent while the dairy cow total is up one percent from last year. Estimated beef replacement heifers are down 2 percent, not indicative of significant liquidation but it certainly indicates no interest in expansion on the part of beef producers.
Meanwhile, we have Tom Leffler of Leffler Commodities who gave us his take on the reports- as well as how they might be viewed by the market come Monday morning. All of Dr. Peel's comments(he has more to say) as well as Leffler's audio recap of the USDA data is on our website on our Cattle on Feed story- we have it linked below.
Former Secretary Ann Veneman- maybe an Obama Running Mate???
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~It sounds very far fetched to me- as one thing that I picked up from the years of covering Secretary Veneman is that she was a pretty loyal Republican operative- but stranger things have happened when it comes to politics- but Politico.Com has a blog story indicating that the Obama VEEP search team has floated her name on Capitol Hill to several key Democrats.
We have the story with the link to the actual blog on our website on this Monday morning- and here's a bit of what the writers said of the possibilities:
"The mention of Veneman's name surprised Democratic lawmakers. The
low-profile Republican was close to food and agriculture industries but
clashed with farm-state Democrats and environmentalists during her tenure,
which lasted from 2001 to 2004. But Veneman, 59, has a biography that
could be suited to Obama's unifying message. A Republican raised on a
California peach farm, she rose to become the nation's first female
agriculture secretary. In 2002 she was diagnosed with breast cancer, which
was treated successfully. Today she serves as executive director of the
United Nations children's agency, UNICEF."
HEAR Ye- High Eurcic Acid Rapeseed Production May Work For Oklahoma Wheat Producers.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Meetings are planned this week in four locations around the state in winter wheat areas to tell producers about another fall crop that can be planted on wheat ground- help you break the cycle of weeds on that land- break up the hardpan and offer a more productive wheat field a year down the road. That crop is High Eurcic Acid Rapeseed- which is very similar in production practices to winter canola.
We had a conversation that we had at the end of this past week with Andew Hebard, President and CEO of Technology Crops International. TCI is wanting to work with winter wheat producers who want to rotate some of their acres. With Andrew- we talk about TCI, the crop itself and what they will be offering producers.
The four production meetings will be on Tuesday July 29 from 10 a.m.-12
p.m., Chisholm Trail Center, 111 W. Purdue Ave. in Enid; Wednesday July 30
from 10 a.m. -12 p.m., Northwest Technology Center, 1801 11th St. in Alva;
Thursday July 31 from 1:00-3:00 p.m., Marriott 3233 NW Expressway,
Oklahoma City and Friday August 1 from 10 a.m.-12 p.m., Northwest
Technology Center, 801 VoTech Drive in Fairview.
Dewald on RFS Waiver Talk and Oklahoma Cattlemen Convention Coming End of This Week.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We talked with Scott Dewald of the Oklahoma Cattlemen's Association this past Friday- and visited with him about both the waiver request by three Oklahoma livestock groups- as well as the 2008 OCA Convention and Trade Show.
On the waiver request, the pork, beef and poultry industries have banded together in putting a request on the Governor's desk that he join Texas Governor Rick Perry in asking the EPA for a waiver on the Renewable Fuel Standard. Dewald says the numbers they have run have shown a 779 million dollar hit on Oklahoma livestock entities because of high feed grain prices. He admits that ethanol can not be blamed for all of the increase in feed grain costs- but he says this is one of the few items where we can make an adjustment in the government mandate on the amount of ethanol that has to go into in the US fuel supply.
On the upcoming convention- Dewald says it will be a dandy- as they get more comfortable in the Reed Center in Midwest City. This will be year two for the convention in this venue- and while they had to share the facility last year- crowding the trade show a great deal- here in 2008- the OCA has both the the upstairs and downstairs- making for much better traffic flow and a more organized trade show for cattle producers to enjoy. They have an excellent program as well- and we have our conversation with Scott linked for you below- take a listen from our webpage on this subject with Scott Dewald of the OCA.
WTO Negotiators Continue to Meet Over the Weekend- More Obstacles Found Along the Way.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~A clash between developing countries over "special safeguard mechanisms" to save farmers from surging imports threatened Sunday to undermine the bid for a new global trade pact, Agence-France Presse reported, quoting delegates to the World Trade Organization talks in Geneva. The measure, referred to as SSM, would increase tariffs by up to 15% on agricultural products in order to protect domestic markets if imports surge over 40%.
Latin American exporters such as Paraguay and Uruguay are at odds with fellow developing nation India, which wants the measures to kick in at a lower level to protect its millions of subsistence farmers. "We cannot have 40% -- it is too high. By the time it reaches 40%, our people would have died," AFP quoted an Indian diplomat as saying.
India is backed by other key players such as China and Indonesia, while
the supporters of the SSM proposal include the U.S. and Australia, the AFP
Oklahoma and Kansas Senators Move to Introduce Legislative Full Reinstatement of Critical Feed Use program
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~U.S. Senator James Inhofe (R-Okla.), Ranking Member of the Senate Environment and Public Works Committee, together with Senators Pat Roberts (R- Kan.) and Sam Brownback (R-Kan.), today introduced legislation addressing the critical feed use (CFU) restrictions for Conservation Reserve Program (CRP) lands impacted by the lawsuit filed by the National Wildlife Federation.
The bill reinstates the CFU program as originally announced by USDA in May, which could allow as much as 100,000 more acres to be available under the CFU. Companion legislation, H.R.6533, has been introduced in the House of Representatives.
"Farmers and ranchers received some good news yesterday when the Court ruled to remove the restraining order previously imposed on CRP lands grazing," Senator Inhofe said. "Unfortunately the decision left some without relief. USDA should have the flexibility to allow full participation in the CFU initiative. To help provide that relief, I am joining with my colleagues, Senators Roberts and Brownback, to reinstate the CFU program as announced by USDA, which could allow as much as 100,000 more acres to be available under the CFU. Representatives Frank Lucas, Jim Moran, Sam Graves, Marilyn Musgrave, and Randy Neugebauer have taken the lead on this important issue in the House and introduced companion legislation last week. I look forward to working with them to pass this legislation and ensure our farmers and ranchers suffering from this severe drought get as much aid as possible."
Express and Other Oklahoma Limousin Breeders Claim Top Honors at All American Show.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Earlier this month, the All-American Limousin Futurity was held in Sioux Falls, S.D., in conjunction with the National Junior Limousin Show and Congress. This is one of the North American Limousin Foundation's four major Medal of Excellence shows.
At the show, Express Ranches claimed the title of Premiere Breeder, as they held part ownership in the Grand Champion Bull and Grand Champion Purebred Female- as well as the Reserve Grand Champion Lim-Flex Bull.
In the fullblood division, Stone Valley Limousin of Cashion exhibited the Grand Champion Bull, while the Reserve Champion fullblood bull was shown by Cody Beach of Bristow.
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Let's Check the Markets!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Cash cattle trade developed after the Cattle on Feed numbers were released by USDA- with more than 24,000 head of cattle being sold in the TCFA region of Texas, New Mexico and Oklahoma on Friday. Most of those cattle went for $95.00, with about a thousand head topping at $95.50. That's one to two dollars less than a week earlier.
Early this Monday morning- we see overnight electronic trade of wheat, corn and soybeans all quite a bit higher- after all three commodities had solid gains on Friday. Kansas City Wheat is up 12 to 14 cents in overnight trade, corn is mostly seven cents higher while soybeans are up by 14 to 15 cents a bushel- sugesting a higher open when open outcry beigns at 9:30 this morning.
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