Oklahoma's Latest Farm
And Ranch News
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Monday, December 12, 2022
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Here is your daily Oklahoma farm and ranch news update.
- Lastest WASDE, Ending Stocks Estimates were Neutral for Corn, Soybeans and Wheat
- K-State’s Glynn Tonsor sees Slight Downturn in Consumer Demand in Red Meat
- Our #GiveAHam Challenge From the Oklahoma Farm Bureau
- Agreement Now in Place for U.S.-Japan Trade Agreement Beef Safeguard Provisions
- Happening TODAY- ONSY to Auction a Calf to Benefit the All American Beef Battalion
- Bipartisan Members of House Ways and Means Committee Call on USTR to Act on Trade Dispute with Mexico
- Oral Arguments Last Week in Soy, Plains Cotton Dicamba Lawsuit
- Despite Concerns, State of Oklahoma Gross Receipts Remain Strong
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Lastest WASDE, Ending stocks Estimates were Neutral for Corn, Soybeans and Wheat
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USDA on Friday lowered export demand for corn by 75 million bushels (mb), raising ending stocks in the process. They also dropped corn export demand to 2.075 billion bushels (bb), down 75 mb from November. That raised ending stocks to 1.257 bb.
USDA released the monthly World Agricultural
Supply and Demand Estimates (WASDE) for December and beyond the move with corn exports, there were few changes in domestic numbers.
Farm Director, KC Sheperd spoke with Rich Nelson at Allendale, and he said world wheat ending stocks were slightly lowered.
“267.8 million tons last month to 267," Nelson said. "There were a few changes for competitors. Australia’s crop was raised 2.1 mt to now 36.6, in line with the Australian government’s forecast. Argentina saw a production decline of 3 mt to now 12.5 and Canada was lowered 1.2 to now 33.8. Though Ukraine’s production was not lowered today, their exports were raised by 1.5 from last month”
Nelson said looking ahead, we should see some "rockstar" reports after the first of the year.
"Our discussion on grains is kind of simple," Nelson said. "If we do get a 1-3 million acre increase for corn and trend yields, then certainly you have stocks of 1.7 billion bushels or higher and a futures price decline down to $4.00 or so.”
Nelson said the big story next year will be what the livestock numbers show, especially on the beef side.
“We mentioned beforehand, beef declines are going to be seen certainly for Q2 and beyond," Nelson said. "USDA is calling for a seven to nine percent production decline in those quarters, so in terms of trade discussion, beef will certainly be the focus here next year.”
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For more information on our services or to find a location near you, visit our website here.
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K-State’s Glynn Tonsor sees Slight Downturn in Consumer Demand in Red Meat
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In this episode of Beef Buzz, I am visiting with Kansas State University Extension Livestock Market Economist, Dr. Glynn Tonsor about recent trends in the meat demand survey he oversees.
Tonsor said the most recent demand survey that he helps oversee at Kansas State shows consumers are backing away slightly when it comes to purchasing red meat.
When we look at grocery store retail demand in November, meat demand was down versus October, and unfortunately also lower than it was a year earlier in November of 2021,” Tonsor said.
Flipping over to food service demand and meals consumed away from home, Tonsor said demand in November was up from October, but beef and pork meals demand metrics are down from the year prior.
“Overall, we continue to see consumers kind of tightening their financial belt, as we have described,” Tonsor said. “Inflation, while it is coming down a little bit, from the latest read that we are getting, is still above wage growth, so the average resident in the U.S. is falling behind financially, and we are seeing that hit the meat category.”
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Our #GiveAHam Challenge From the Oklahoma Farm Bureau
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A few days back- I was challenged by the Oklahoma Farm Bureau Board of Directors and President Rodd Moesel to join in the #OklahomaPork #GiveAHam event
At the Tulsa Farm Show this past Friday- I formally accepted the challenge- announcing that my wife Jan and I are giving a couple of hams to the Jeremiah House of Oklahoma-
If you are an Alum of OALP- please let me know if you have accepted the challenge and who you are giving a ham to this holiday season.
Check out the video below to watch my comments from the Tulsa Farm Show.
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For our farmers who have either- always have had cotton on their farms- or those who have more recently have added the fiber crop to their operations- we have a daily report heard on several of our Radio Stations- It's Called Cotton Talk!
Click on the Button below to listen to our most recent report
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OKC West Livestock Market is a modern facility with improved ways of handling livestock. OKC West was designed with producers in mind, and truck drivers and buyers alike.
We are proud that OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday, and Feeders on Wednesday- Call 405-262-8800 to learn more- or click here for their website.
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Agreement Now in Place for U.S.-Japan Trade Agreement Beef Safeguard Provisions
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United States Trade Representative Katherine Tai and Japan’s Ambassador to the United States Koji Tomita on Friday confirmed in an exchange of letters that amendments to the beef safeguard trigger level under the U.S.-Japan Trade Agreement (USJTA) will enter into force on January 1, 2023.
The letters confirm that both countries have completed their respective domestic procedures with respect to the June 2, 2022, Protocol Amending the Trade Agreement Between Japan and the United States of America (Protocol) and also confirm the agreed upon entry into force date of January 1.
“The new beef safeguard agreement will ensure that America’s farmers and ranchers can continue to meet Japan’s strong demand for high-quality U.S. beef,” said Ambassador Katherine Tai. “I am grateful to leaders and stakeholders in both countries for their dedication and ingenuity, which were essential to reaching this important outcome."
House Ag Committee Chairman David Scott issued the statement below following USTR’s announcement regarding beef safeguard provisions of the U.S.-Japan Trade Agreement:
“Japan is a top export destination for U.S. beef and today’s announcement marks an important development for the U.S. beef industry. The exchange of letters formalizes the updated beef safeguard mechanism agreement that Japan approved in November, allowing our beef producers to expand their export opportunities and meet Japanese demand for high-quality U.S. beef,” said Chairman David Scott.
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We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-
if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
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Sponsor Spotlight
Oklahoma Farm Bureau is a grassroots organization working to improve the lives of all Oklahomans by supporting our state’s agriculture community. As Oklahoma’s largest general farm organization, OKFB advocates for farmers and ranchers at the state Capitol and in Washington, D.C., to ensure our way of life continues for generations to come. With leadership events, supporting our state’s agricultural youth and connecting consumers with agriculture, Farm Bureau promotes and sustains Oklahoma agriculture in numerous ways. Join with OKFB today by becoming a member at okfarmbureau.org/join. Together, we are rural Oklahoma.
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Happening TODAY- ONSY to Auction a Calf to Benefit the All American Beef Battalion
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Midday today- the Oklahoma National Stockyards will auction a calf for the benefit of the AABB, along with National Livestock providing lunch for those in attendance. The AABB crew is bringing in their cooker and will be preparing a ribeye lunch. Lunch will begin at 11:00 a.m. and the actual sale will take place at approximately 12:30 p.m. in the sale arena of the Stockyards.
The calf to be auctioned is again being donated by 3C Cattle Feeders and the Clyde Runyan family of Mill Creek, Oklahoma. A very special thanks go out to Penny, along with her sons Casey and Bear, who have donated the calf for 9 years. Clyde was with the 101st Airborne in Vietnam and always considered this as a privilege to be able to give back to the troops. Runyan passed away in 2019 and his family continues the legacy of donating the calf in his honor.
This is the 11th year for the National Livestock companies to be involved in supporting the AABB. With the 2021 auction bringing in more than $61,500, contributors to this event have raised over $517,500 from the annual auction of a donated calf.
Anyone may support this effort by calling 800-310-0220 and speaking with Debbie Wedel. If you are unable to attend but would still like to support the cause, you can call Debbie for your proxy bid or you may also visit the All American Beef Battalion web site and make your donation by PayPal. National Livestock will invoice bidders and contributors and will forward all funds to the AABB. All checks should be made payable to the All American Beef Battalion.
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Bipartisan Members of House Ways and Means Committee Call on USTR to Act on Trade Dispute with Mexico
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Twenty-four members of the U.S. House of Representatives Ways and Means Committee sent a letter today to Ambassador Katherine Tai, calling on her to act to resolve a lingering trade dispute with Mexico over biotech corn imports. Reps. Adrian Smith (R-Neb.) and Dan Kildee (D-Mich.) led the bipartisan effort.
“We have been working closely with Congress on this issue, and it’s inspiring to see congressional champions from both parties faithfully taking up the mantle,” said National Corn Growers Association (NCGA) President Tom Haag. “These members of Congress are now looking to Ambassador Tai to uphold the integrity of USMCA.”
The letter is the latest development and response from U.S. officials as the ag community braces for the fallout if President Andrés Manuel López Obrador follows through with a promise to ban biotech corn shipments beginning in early 2024. Ninety percent of U.S. corn is biotech corn.
NCGA has been sounding the alarm on this issue for months. USDA Secretary Tom Vilsack traveled to Mexico City last week to meet with President López Obrador. During the meeting, the secretary told the Mexican president that absent an acceptable resolution on the issue the U.S. would consider all options, including “taking formal steps to enforce our legal rights under the USMCA.”
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Oral Arguments Last Week in Soy, Plains Cotton Dicamba Lawsuit
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The American Soybean Association and Plains Cotton Growers, Inc., argued before the D.C. Circuit Court of Appeals on Dec. 8 in American Soybean Association v. EPA (D.C. Cir. 20-1441). The two groups urged the court to clarify jurisdictional rules under FIFRA and to require the Environmental Protection Agency to use the best available science when evaluating dicamba pesticide registrations and potential impacts to species protected under the Endangered Species Act.
The groups filed the lawsuit against EPA in November 2020 on the five-year registration for the use of dicamba on dicamba-tolerant soybeans and cotton. Growers argued EPA’s flawed approach led the agency to impose arbitrary and overly burdensome buffers and application cutoff dates, which have harmed grower operations. The agency’s arbitrary requirements have forced many growers to take land out of agricultural production, prevented their ability to use important practices like double-cropping, and made it more difficult to control damaging herbicide-resistant weeds, among other harms.
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Despite Concerns, Gross Receipts Remain Strong
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Gross Receipts to the Treasury for the past year set a new record high for the sixth consecutive month, but falling energy prices raise concerns about future collections, State Treasurer Randy McDaniel announced today.
Twelve-month gross receipts through November are $17.36 billion, up by $2.44 billion, or 16.3 percent, from the prior 12 months. However, the monthly tax collections on oil and gas production fell below $160 million for the first time since April.
“The overall results continue to be strong,” said Treasurer
McDaniel. “While lower fuel prices at the pump are providing needed relief for consumers, the slowdown in demand and drop in commodity prices will impact collections in the future.”
Compared to last November, the economic results for the month are positive. November collections of $1.31 billion are up by $120.9 million, or 10.1 percent, from November 2021. All major revenue streams reflect growth. Sales and use tax collections continue to exceed the rate of inflation, growing 10.5 percent compared to the same month of last year.
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OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
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Today's First Look:
Ron on RON Markets as heard on K101
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
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Wholesale Boxed Beef Prices were higher- Choice Beef was up $1.65 cents and Select Beef was up 71 cents on Friday 12/09/2022.
Click on the Button below for the latest report from USDA Market News
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Oklahoma National Stockyards had around 8700 head on the yards late Sunday afternoon and and ONSY President Kelli Payne says they expect to start Monday’s auction with 9300 head plus. We will begin the sale at 6:30 am. We will also be supporting the All American Beef Battalion today by auctioning off a steer during the noon hour.
From the December 5th Sale- Compared to 11/28: Feeder steers and heifers unevenly steady. Demand moderate to good. Steer calves 4.00 – 7.00 higher, with instances 12.00 higher. Heifer calves over 450lbs. unevenly steady, under 450lbs 15.00 – 20.00 higher. Demand good for most calves. Several attractive, Oklahoma National Stockyard annual Oklahoma Angus Association Sale offerings.
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Meanwhile, on Tuesday of this past week- the ONSY slaughter cow and bull sale had1,479 sold versus 1,278 a year ago.
Compared to last week: Slaughter cows 6.00-8.00 lower. Slaughter bulls steady to 1.00 higher. Packer demand moderate as large numbers continue to move to market.
Click below for Feeder Report as well as the Cow-Bull report.
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Here's our regular feature that is a part of the Monday Daily Email- market commentary from Bob Rodenberger, a partner with Stockman Oklahoma Livestock Marketing.
Bob is talking Fridays with our own KC Sheperd with his commentary and will be posted on our website-- OklahomaFarmReport.Com.
We will share a link to it Mondays here in our market section of the daily email.
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Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures - click below for the latest update on the Livestock and Grain Futures Trade..
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Okla Cash Grain:
Daily Oklahoma Cash Grain Prices- as reported by the Oklahoma Dept. of Agriculture- The report available after the close of the Futures Trade for that day.
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Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm/Ranch Broadcaster and Editor
KC Sheperd, Farm Director and Editor
Dave Lanning, Markets and Production
Reagan Calk, Farm News and Email Editor
Pam Arterburn, Calendar and Template Manager
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Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is a big reason why Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity dives into these stories, bringing you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America.
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
KC Sheperd talks with three of the country reps that live in Japan and work for US livestock producers in Japan as a part of the US Meat Export Federation team in that important export destination for US Beef and Pork.
KC talked to Takemichi Yamashoji, Director, USMEF Japan; Satoshi Kato, Marketing Director, USMEF Japan and Taz Hijikata, Director, Consumer Affairs, USMEF Japan at the recent USMEF Strategic Planning Conference held in Oklahoma City.
Search for Road to Rural Prosperity and subscribe on your favorite Podcast platform.
To hear this podcast, you can click here or tap below:
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Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Farm Bureau, Oklahoma Ag Mediation Program, Great Plains Kubota, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Oklahoma Pork Council, Union Mutual Insurance, the Oklahoma Cattlemens Association, and KIS Futures for their support of our daily Farm News Update.
For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites 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- at NO Charge!
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
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God Bless!
Reach Out To Us:
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Tim West
President/General Manager
Rural Oklahoma Networks
405-317-6361
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Mike Henderson
Director of Sales
405-615-4922
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KC Sheperd
Farm Director
Radio Oklahoma Ag Network
405-443-5717
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Ron Hays
Senior Farm/Ranch Broadcaster
Radio Oklahoma Ag Network
405.473.6144
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