~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Friday November 7, 2008!A service of Johnston Enterprises, KIS Futures and American Farmers & Ranchers!
-- Meat Memo From Phil Seng to President Elect- "Change Matters IF You Get Results"
-- The Current Market Strategy- Hoping for Higher Wheat Prices
-- Economic Meltdown Not as Hard on the Cattle Market Compared to Other Commodities.
-- Farm Bill Informational Meeting Set for Next Tuesday
-- A Return Engagement for David Kohl Coming Up At Quartz Mountain
-- Chairlady Lincoln???
-- Looking at our Agricultural 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 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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Meat Memo From Phil Seng to President Elect- "Change Matters IF You Get Results"
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The President and CEO of the U.S. Meat Export Federation told the more than 300 agriculture industry leaders attending a strategic planning conference in Tucson, Arizona that the new administration should - not be afraid to change course - if the desired results aren't being achieved in world trade. Phil Seng called red meat exports - one of our avenues to prosperity.
He says we need to - go where the money is. People in Japan, for example, have 5.5 trillion dollars in personal savings, and banks in Japan and China have 1.5 trillion and 1.9 trillion respectively. Seng says, - the money is in these key export markets.
To help the U.S. red meat export industry have a fair shot at these markets, Seng advised the new administration to consider several steps including: create a new sub-cabinet level position with responsibility for all trade-related issues; and redefine the industry-government partnership.
The Current Market Strategy- Hoping for Higher Wheat Prices
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~OSU Extension Grain Market Economist Dr. Kim Anderson tells Clinton Griffiths in this weekend's SUNUP taping that as farmers are faced with sharply lower wheat prices compared to what they saw at harvest earlier this year- those that still ahve wheat to sell from the 2008 crop "are having a difficult time" accepting the fact that traditional wheat price patterns have been disrupted by the Economic Meltdown that has impacted all commodity prices- and are "hoping that prices will recover some."
Dr. Anderson says that we have the potential for a good crop for 2009- based on reports he heard earlier this week at the Oklahoma Ag Expo held in Oklahoma City. Some people are still planting wheat- especially in areas that have been wet this fall, with some producers starting to worry a bit about the crop insurance deadline of November 30 to have wheat planted to qualify for 2009 coverage.
Besides Dr. Anderson's comments on SUNUP this weekend, the program will include a look at a research project in Southeast Oklahoma that is using goats to eliminate dense underbrush- as well as have regular segments with Dr. Glen Selk and Dr. Randy Taylor. SUNUP can be seen Saturday mornings on OETA.
Economic Meltdown Not as Hard on the Cattle Market Compared to Other Commodities.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The economic meltdown is alive and well- based on the latest stock market ten percent drop in two days after it was known by the market that Barack Obama would be our next President of the United States. In talking this week with Randy Blach of Cattlefax, he contends that beef prices have actually fared a little better than other commodities.
He adds that the weakness in middle meats from the beef carcass has actually been around for much of 2008- and that we have been able to get more out of the other areas of the carcass to help hold together cattle prices at the point of slaughter in the $90 to $100 range. He sees beef demand holding together fairly well- although how much demand each cut will have for it depends on the depth and length of a US Recession- adding that if consumers continue a recent trend of staying home and cooking more- that will push more of our product through the retail beef pipeline and that typically includes more low choice and select product than what is served in restaurants.
We have a portion of our conversation from earlier this week at the Texas Cattle Feeders Association convention with Randy Blach for you today on the Beef Buzz- and you can hear Randy by clicking on link for the story on our website below.
Farm Bill Informational Meeting Set for Next Tuesday
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~American Farmers & Ranchers (AFR) will hold a Farm Bill informational meeting Tuesday, November 11th at their headquarters in Oklahoma City. AFR President & CEO Ray L. Wulf says, "We want to invite everyone that is interested in learning more about the 2008 Farm Bill to our building, there are several new provisions in the Farm Bill that agriculture producers and others involved in the agriculture industry need to be aware of, this meeting will address many of those issues."
The driving force behind the information to be presented on Tuesday is Francie Tolle, Legislative Policy Analyst for AFR- and we talked with her about the upcoming meeting. You can hear some of her comments by clicking on the link below. You can also see Francie with us Saturday morning on our In the Field segment on KWTV News9 at around 6:40 AM.
The meeting will include information on the new ACRE program, the new permanent disaster program, Country of Origin Labeling and many other provisions included within the 15 titles of the 2008 Farm Bill. The meeting will be held at the American Farmers & Ranchers Building, 800 North Harvey, in downtown Oklahoma City, November 11th from 10:00 a.m. - 1:00 p.m. Call Francie Tolle at 405-218-5523 for questions about the event.
A Return Engagement for David Kohl Coming Up At Quartz Mountain
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The ninth annual Farmer and Rancher Forum is planned for November 20 at Quartz Mountain Resort in Lone Wolf, Oklahoma. Once again this event is being sponsored by Ag Preference of Altus. It should be especially interesting this year- given the roller coaster ride we have been carried on since this time one year ago.
Dr. Kohl is considered one of the best in the business when it comes to someone who can dissect the business of agriculture today- and how to financially manage your farm, ranch or even agribusiness in these challenging times.
The program is set for Thursday, November 20, with Dr. Kohl set to take center stage beginning at 9:00 AM. There will be a break for lunch, a Q&A session after lunch and door prize drawings that will wrap up the day. For more information, click on the link below or call Diane Beach at AgPreference in Altus- 1-800-727-3276. They do need to hear from you by November 14 to have an accurate count for lunch.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The incoming Congress will have one new face that well-known to U.S. agriculture. Former Agriculture Secretary Mike Johanns handily won his race for the Senate seat vacated in Nebraska by Senator Chuck Hagel. Some major changes could be in store for the Senate Agriculture Committee. There are rumors that Chairman Tom Harkin could lead the Senate's Health, Education, Labor and Pensions committee if Senator Edward Kennedy, the current chairman, relinquishes the post. That could make Senator Blanche Lincoln of Arkansas a potential successor as other Democrats with more seniority on the ag committee already chair other committees.
Meanwhile, it is unknown if the ranking minority member on the Senate Ag Committee will survive his reelection bid or not. Senator Saxby Chambliss may be facing a runoff against his Democratic challenger on December 2, as he literally just votes shy of the 50% plus one vote needed to win. If he ends up in the runoff in early December- you know he'll be facing not just Jim Martin- the Democrat that got around 47% of the vote- but also President Elect Barack Obama, who will try to knock off Chambliss- who has been very popular with agricultural groups- both as a Congressman and now as a Senator.
In another close Senate race, Senator Norm Coleman, a Republican who
serves on the agriculture committee and who is noted for his work on food
aid, faces a recount in the close race in Minnesota against Democratic
challenger Al Franken.
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Looking at our Agricultural Markets...
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