Agricultural News
Industry Leader Jimmie Musick of OK Remains Optimistic About Wheat's Profitability Despite Market's Challenges
Thu, 15 Aug 2019 21:41:29 CDT
Jimmie Musick, a diversified crop farmer from Sentinel, Okla., currently serves as the Immediate Past President for the National Association of Wheat Growers. In this capacity, Musick attended Wednesday's joint-meeting of the Oklahoma Wheat Growers Association and the Oklahoma Wheat Commission in El Reno. He took a moment to speak with Radio Oklahoma Ag Network Farm Director Ron Hays during that event to discuss the current state of the ag economy and the impact it is having on farmers, offering some of his insights from his perspective as a national leader within the US wheat industry. You can listen to their complete conversation by clicking or tapping the LISTEN BAR below at the bottom of the page.
"It's really a challenge with prices right now," Musick remarked. "We're having lots of problems nationwide. But, farmers today are very market savvy and they're very good managers - and I'm a little more optimistic than Kim Anderson is about the market. I think it's a possibility that we'll see a little spike in wheat prices."
Based on the anecdotal evidence he has been privy to, Musick shared that there exists some concern among lenders that cash flow may be exceptionally tight this year and possibly prohibitive of distributing the necessary operating capital farmers need to get their next crop in the ground, the way in which the market and economy are currently. However, Musick is confident that wheat will still turn a profit, especially for those intending to graze cattle.
"There's a lot of potential out there. Cattle prices are not great, but nothing puts weight on a steer like wheat pasture does," he remarked. "So, there's still some potential for some profit out of the cattle business. Dual-purpose wheat has always worked very well and it'll still work - not as good as it has in the past - but there's still potential for profit out there."
Musick attests that NAWG's staff and leadership maintain a great deal of interest and engagement in the current process of negotiating and resolving the ongoing trade disputes the Administration is presently working through. While trying to remain understanding of the situation the Administration is in, its intentions and its goals, Musick agrees with the outcry from the ag community that a speedy resolution to these negotiations would go a long way for producers who are collectively struggling under the burden of the intensifying economic pressure.
"The trade and embargo issues have just about worn the farmers out and it's time to make a deal," Musick said. "And, we think he will. We're still slightly optimistic that we're going to see some really beneficial trade partners coming on. I really think that if we can get these export markets opened up and be able to move more product, I think we have a chance to get wheat back to where it should be and we're really looking forward to that happening."
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