~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Tuesday October 21, 2008!A service of Producers Cooperative Oil Mill, Farm Credit Associations of Oklahoma and Midwest Farm Shows!
-- DOJ, Joined by Drew Edmondson and Other Attorney Generals Around the Country, Sue to Block JBS from Buying National Beef
-- Groups Representing Livestock Producers Seem to Agree With the DOJ Move
-- Wheat Planting on Track with the Five Year Average
-- Nationally- Harvest of corn and soybeans runs behind normal
-- Meet Sarah Reasnor- She Knows Her Genetically Modified Goats
-- Beef Buzzing on the DOJ
-- Kris Black Annual Bull Sale Happens this Saturday at the Ranch North of Cheyenne
-- Futures Markets Now Available on WWW.OklahomaFarmReport.Com
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We salute our longest running email sponsor- Midwest Farm Shows, producer of the annual Tulsa Farm Show scheduled for December 11-13 here in 2008, as well as the springtime Southern Plains Farm Show in Oklahoma City. Check out details of both of these exciting shows at the official website of Midwest Farm Shows by clicking here.
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DOJ, Joined by Drew Edmondson and Other Attorney Generals Around the Country, Sue to Block JBS from Buying National Beef
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Department of Justice filed a civil antitrust lawsuit Monday in U.S. District Court in Chicago to block the proposed acquisition by JBS S.A., currently the third-largest U.S. beef packer, of National Beef Packing Company LLC, the fourth-largest U.S. beef packer. The Department said that the proposed deal would combine two of the top four U.S. beef packers resulting in lower prices paid to cattle suppliers and higher beef prices for consumers. The Attorneys General of Colorado, Iowa, Kansas, Minnesota, Missouri, Montana, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Texas and Wyoming are joining the Department's lawsuit.
If not blocked, JBS's acquisition of Kansas City, Mo.-based National would make it the largest U.S. beef packer, with an ability to slaughter more than 40,000 head of cattle per day (or more than one third of U.S. fed cattle packing capacity) and annual sales of more than $14 billion.
"The combination of JBS and National will likely lead to grocers, food service companies and ultimately American consumers paying higher prices for beef," said Thomas O. Barnett, Assistant Attorney General in charge of the Department's Antitrust Division. "It will also lessen the competition among packers in the purchase of cattle that has been critical to ensuring competitive prices to the nation's thousands of producers, ranchers and feedlots."
We have more on the decision of the DOJ to sue JBS Swift over their planned acquisition to acquire National Beef Packing Company. Click on the link below for more on the lawsuit.
Groups Representing Livestock Producers Seem to Agree With the DOJ Move
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Perhaps the statement of Bob Stallman, President of the American Farm Bureau Federation, sums up the feelings of many in the livestock business. Stallman commented on the decision by the US Justice Department to sue to block the JBS plan to buy National Beef Packing Company and become the nation's largest beef packer as "showing that the system works."
He refers to the review that Farm Bureau and others asked the DOJ to perform regarding the buying spree that JBS Swift announced earlier in 2008. The Brazilian owned company announced their intentions to buy the number four and the number five beef packers in the US, Smithfield Beef and National Beef, as well as the largest feedlot company in America, Five Rivers. Putting the Swift facilities they had bought a little more than a year earlier with these purchases would have made JBS Swift the largest beef packer in the country- as well as the global gorilla in beef packing.
We have details of the AFBF reaction as well as the NCBA and R-Calf USA reaction to the move by the DOJ reported in the story above. The thoughts from each of these groups- as well as some audio dug up by our colleague Stewart Doan with R-Calf CEO Bill Bullard give you a feel of the feeling among groups that represent livestock producers. The link to all of that is below.
Wheat Planting on Track with the Five Year Average
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The latest Oklahoma Crop Weather Update is out- and it shows that while we got close to freezing temperatures last week- down to 33 degrees in some areas- we are still waiting on the first freeze in most locations across the state. By the way, we could get close to that Thursday morning in some northern counties based on the current weather forecasts.
Back to the Crop Weather update- "Last week's rains softened soils enough in several dry areas to allow producers to begin planting small grains. Some producers were replanting wheat acres that had received major damage from armyworms. Crop insect activity decreased slightly from the previous week with 27 percent of the State's cropland having heavy to moderate insect activity. Winter Wheat planted increased seven points from the previous week to reach 82 percent complete, equal to the five-year average. Nearly two-thirds of the State's wheat had emerged by week's end, up 15 points from the previous week and one point ahead of normal."
For the row crops- "Row crop harvest came to a standstill in areas that
received abundant rainfall throughout last week. Ninety-four percent of
the State's corn was mature, up two points from the previous week.
Seventy-nine percent of the corn had been harvested by week's end, up five
points from the previous week but 14 points behind the five-year average.
Sorghum mature increased three points from the previous week to reach 42
percent, 32 points behind the five-year average. Twenty-seven percent of
the State's sorghum had been harvested, 18 points behind normal. Soybeans
harvested were up nine points from the previous week to reach 27 percent
complete, 21 points behind normal. Ninety-two percent of the State's
peanuts were mature by week's end, up nine points from the previous week
but one point behind normal. Forty-five percent of peanuts had been dug,
up 15 points from the previous week but seven points behind the five-year
average. Peanuts combined reached 29 percent, three points behind normal.
Cotton harvested reached 13 percent by week's end, up three points from
the previous week but six points behind normal."
Nationally- Harvest of corn and soybeans runs behind normal
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The harvest of the 2008 US corn crop remains well behind normal- but the size of the crop is unlikely to be hurt by the lateness of the combines rolling. Nationally, 29% of the crop is now harvested- the five year average is 53%. Soybeans are not all that far behind the normal pace at 67% complete versus the five year average of 74%
The cotton harvest remains six percentage points behind normal, while the grain sorghum harvest lags by 11 percentage points.
Pasture and Range Conditions nationally fair to good- with those two categories catching two thirds of the pastureland in the US. The Oklahoma Pasture conditions 57% good to excellent, 34% fair and just 9% poor to very poor. Contrast that to our friends (and some of my relatives) in Kentucky who continue to suffer with drought and a 77% poor to very poor rating on their pastures.
Meet Sarah Reasnor- She Knows Her Genetically Modified Goats
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Sarah is from Elgin and serves Oklahoma FFA this year as the Southwest District Vice President on the state officer team. She is a freshman at OSU and is majoring in Ag Communications- and this bright attractive young lady will be carrying the Oklahoma banner into one of the toughest contests at the National FFA Convention this week in Indianapolis, the National Prepared Public Speech Contest.
We talked with Sarah as she made final preparations for the National Contest- which begins on Wednesday- and we have that conversation linked below on our website, WWW.OklahomaFarmReport.Com. We are beginning to crank up our coverage of the National FFA Convention that will be heard on the Radio Oklahoma Network and our great radio stations all across the state, as well as on our website.
I am really excited about the Blue-Green Gazette, our web location for coverage of all things 4-H and FFA in Oklahoma. If you go to our front page- you will see on the right hand column a graphic for the Blue-Green Gazette. Click there and you will find our coverage of the FFA convention over the next few days. Our link below is to the Blue-Green Gazette, and the top story this morning is our feature interview with Sarah Reasnor.
Beef Buzzing on the DOJ
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We have our top two stories in this email about the DOJ's lawsuit against JBS and their plans to buy National Beef. So not a lot to add- buy on our Beef Buzz story this morning- we do offer comments from US Premium Beef's Steve Hunt on the fact that they plan to fight the DOJ action. US Premium Beef is the majority stockholder of National Beef.
We also have a link in our Beef Buzz story that takes you to the full complaint filed by the Department of Justice on Monday.
The Beef Buzz is a regular feature heard on radio stations around the state on the Radio Oklahoma Network- and is a regular audio feature found on our website as well. Click on the link below to jump to the Beef Buzz story for today and these additional perspectives on this story.
Kris Black Annual Bull Sale Happens this Saturday at the Ranch North of Cheyenne
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The annual Fall Bull Sale of the Black Hereford Ranch in Crawford, Oklahoma is set for this coming Saturday, October 25. The bidding will begin at 2:00 PM for the 90 Stout Composite and Major Club Calf producing herd sires.
Kris Black writes in the sale catalog "there are bulls to fit anyone's budget. We think there are several bulls that can and will be promoted and will sell semen. Many of the bulls in this stout set of fall yearlings will sire highly sought after club calves that will sell for a good premium." Lots of excellent genetics make this offering of ready to work bulls coming out of northwest Oklahoma.
We have a lot of information linked on this sale below- including the full sale catalog, videos of the bulls that you can see online and details of how you can view and bid online the day of the sale if you cannot be there in person. Click below for more on Kris Black Annual Fall Bull Sale as he offers the Cream of the Crop.
Our thanks to Farm Credit Associations of Oklahoma, Producers Cooperative Oil Mill and Midwest Farm Shows for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked at the top of the email- check them 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!
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Futures Markets Now Available on WWW.OklahomaFarmReport.Com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Our thanks to KIS Futures for providing a full page of futures market information for visitors to our website, WWW.OklahomaFarmReport.Com. We have the open outcry day trade contracts to see- and the overnight electronic trade as well. Our Futures update includes all of the ag futures, energy, financials and more. Click here for our MARKETS page- scroll down and just under the listen bars- you will see the KIS logo- click there and you will get a complete rundown of the futures market on a single page- a service of KIS Futures.
Just a very quick note on the Monday Oklahoma National Stockyards- volume finally looked better and so were prices, with yearlings up $1 to $3, while calves, helped by improving prospects for wheat pasture, shot up $5 to $10 per hundred. Click here for the full report from the Oklahoma City Monday trade.
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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