Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
    
   
   
   
   
   

Agricultural News


AFR/OFU Applauds Introduction of Cattle Market Disaster Compensation Bill

Fri, 20 Mar 2020 08:32:43 CDT

AFR/OFU Applauds Introduction of Cattle Market Disaster Compensation Bill Senator Mike Rounds (R-S.D.) plans to introduce standalone legislation March 20 that will address the current volatility in the cattle market caused by COVID-19. The legislation would direct U.S. Secretary of Agriculture Perdue to use Commodity Credit Corporation (CCC) funds to offset cattle producers’ losses in the live and feeder cattle markets using USDA Economic Research Service 2020 projections as a baseline.

“Oklahoma’s cattle producers have endured incredible diversity over the last few years and the unprecedented market volatility has taken a toll on our industry,” said AFR/OFU Cooperative President Scott Blubaugh. “The additional market disruption caused by COVID-19 is the last thing we needed at this time. I commend Sen. Rounds of South Dakota for his action and leadership on this vital issue and urge Sens. Lankford and Inhofe to support this legislation that can bring much needed stability to the nation’s cattle market.”

The proposed legislation would use USDA Economic Research Service 2020 projections as a baseline for market losses. Producers would report to their local Farm Service Agency (FSA) office the month(s) in which they sold cattle and the number of head sold. USDA would then compare the reported average sales prices to the indexed feeder or live cattle average to determine the COVID-19 market disruption.

For example, USDA projected that in 2020 feeder cattle would sell at an average of $150 per hundred weight. If a producer sold cattle in April, USDA would calculate the average sales price for that month and pay the producer the difference based on the amount and weight of cattle sold. If the average sale for the month of April was $130 per hundred weight, each producer (regardless of individual sale price) would qualify for a $20 per hundred weight market correction.

This concept would apply to cattle being sold for slaughter as well as cattle being sold to a feedlot. The market correction would apply to 2020 months only. If the market rebounds and the average sale for the month(s) reaches the USDA 2020 projected price, then no payment is necessary.

AFR/OFU Cooperative is a membership services organization established in 1905 as Oklahoma Farmers Union. AFR/OFU provides educational, legislative and cooperative programs across the state and serves as a watchdog for Oklahoma’s family farmers and ranchers and rural communities. The organization is actively supportive of the state’s agricultural industry and rural population with membership consisting of farmers actively involved in production agriculture and non-farmers adding their voice in support of AFR/OFU principles.


   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • NPPC Cancels 2020 World Pork Expo  Mon, 30 Mar 2020 16:40:47 CDT
  • Majority of Southern Plains Wheat, Pasture and Range Conditions are Rated Good to Excellent  Mon, 30 Mar 2020 21:39:58 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Monday, March 30, 2020  Mon, 30 Mar 2020 14:59:53 CDT
  • Monday, March 30, 2020 Market Wrap-Up with Justin Lewis  Mon, 30 Mar 2020 14:03:56 CDT
  • OSU's Wheat Field days Canceled through May 10th   Mon, 30 Mar 2020 12:47:57 CDT
  • A Beef Board Update on COVID-19 Response by Contractors to Beef Checkoff  Mon, 30 Mar 2020 11:25:47 CDT
  • USDA Extends ReConnect Application Deadline to April 15  Mon, 30 Mar 2020 11:18:57 CDT
  • Zoom Webinars Planned for 2020 Cotton Production Planning and Dicamba Training by OSU  Mon, 30 Mar 2020 11:12:32 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma City Farm Show KIS FUTURES, INC. Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.