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Today's First Look:
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Okla Cash Grain:
Futures Wrap:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
Pam Arterburn, Calendar and Template Manager Dave Lanning, Markets and Production Kane Kinion, Web and Email Editorial Assistant
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Monday, December 16, 2019
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Howdy Neighbors!
Here is your daily Oklahoma farm and ranch news update.
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 Featured Story:
The United States and China have reached an historic and enforceable agreement on a Phase One trade deal that requires structural reforms and other changes to China's economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.
The Phase One agreement also includes a commitment by China that it will make substantial additional purchases of U.S. goods and services in the coming years. Importantly, the agreement establishes a strong dispute resolution system that ensures prompt and effective implementation and enforcement. The United States has agreed to modify its Section 301 tariff actions in a significant way.
"President Trump has focused on concluding a Phase One agreement that achieves meaningful, fully-enforceable structural changes and begins rebalancing the U.S.-China trade relationship. This unprecedented agreement accomplishes those very significant goals and would not have been possible without the President's strong leadership," said United States Trade Representative Robert Lighthizer.
"Today's announcement of a Phase One agreement with China is another significant step forward in advancing President Trump's economic agenda. Thanks to the President's leadership, this landmark agreement marks critical progress toward a more balanced trade relationship and a more level playing field for American workers and companies," said Secretary of the Treasury Steven Mnuchin.
You can read more from the announcement, by clicking or tapping here.
In addition to the details released by the USTR's office- Farm Futures' Analyst Duane Lowry offered his insights into what the deal may mean to the ag community in the weeks and months ahead- he believes that this time we have a real breakthrough-read his thoughts by clicking or tapping here.
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Farmers for Free Trade Co-Executive Director Brian Kuehl released the following statement on the Phase One agreement reached by the U.S. and China.
"While any relief is welcome, one-time purchases are not a substitute for sustained market access into one of American agriculture's largest export markets. Only ending the trade war will provide farmers with the certainty they need to reestablish productive trading relationships with China and return to reliable yearly export levels.
"There are rightfully many doubts about the President's claim that China will purchase $50 billion in ag products in a single year - more than twice the level of pre-trade war annual purchases. First, China has yet to confirm this pledge or provide any details on how they will meet it. Second, because the trade war has given a leg up to our competitors, China now sources ag from an even more diverse array of countries, making it difficult, if not impossible, to quickly purchase such a large amount solely from the U.S. Finally, market realities including supply and demand as well as inspections and regulations all create enormous barriers to completing these purchases next year.
Click here to read more from Kuehl regarding Farmers for Free Trade skepticism on the China announcement.
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On Friday, the finalization of Phase One in the US - China Trade agreement was announced. The following reactions are in regards to that.
Statement of NCFC President Chuck Conner on Phase One Agreement Between US and China
"Today's announcement of a 'Phase One' trade agreement between the United States and China is an important and significant step in resolving a dispute that has directly hit the bottom line of farmers across the US. We look forward to seeing the further details as they are released and hope the agreement will be signed by both countries as soon as possible."
National Cattlemen's Beef Association (NCBA) CEO Colin Woodall issued the following statement regarding last week's announcement that the U.S. and China have agreed to a phase one trade deal:
"The announcement of a phase one deal with China is welcome news for the U.S. beef industry. While we wait to learn more about the details of the agreement, we are optimistic that this positive news will bring long lasting relief to farmers and ranchers who have been targeted with China's retaliatory tariffs for many months." said Woodall. "While tariffs grab most of the headlines, China's unjustifiable non-tariff barriers and restrictions on science-based production technologies must be addressed so that Chinese consumers can enjoy the same high-quality, safe and sustainably-produced U.S. beef that Americans have enjoyed for decades. We encourage the Trump Administration to keep working with China to establish meaningful market access and rules of trade based on market demand and science, most importantly. This is an important step forward and something that both countries must build on for our mutual prosperity. "
U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued this statement:
"China is the world's largest and fastest-growing destination for imported red meat, and the U.S. industry is excited about the prospects for expanded opportunities in China. We look forward to learning more details about this Phase One agreement.
U.S. Wheat Associates (USW) and the National Association of Wheat Growers (NAWG) are encouraged by news last week that the United States and China have agreed on the text of a "Phase One" trade deal that apparently would roll back tariffs and re-open China's important market for U.S. agricultural imports.
Earlier this year, China agreed to new policies related to new agricultural tariff rate quotas (TRQ), including a 9.6 million metric ton reduced tariff TRQ for wheat imports. China had imported as much as 1.65 million metric tons of U.S. wheat in marketing year 2016/17 and an additional 866,000 metric tons in 2017/18 before implementing retaliatory tariffs in March 2018. We also believe that China's flour millers and growing baking industry would welcome the opportunity to purchase high-quality U.S. wheat classes again.
The following statement may be attributed to American Farm Bureau Federation President Zippy Duvall:
"America's farmers and ranchers are eager to get back to business globally. Progress restoring our ability to be competitive in China is a key component of that and this development is welcome news. We appreciate the administration's initiative and look forward to further progress toward resolving this trade battle.
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The Oklahoma Department of Agriculture has forwarded a letter from Scott Carlton, the USDA Chief for Migratory Birds- The letter encouraging folks to apply for depredation permits now, as opposed to waiting for calving season when the USDA office is overwhelmed with requests. Current regulations state that they only have to show that there is a history of loss due to black vultures depredating livestock.
Carlton states if producers wait until newborn livestock are hitting the ground, they risk not receiving their depredation permit authorizations when they are experiencing issues with black vultures. If they are interested in getting a head start, they can contact the Oklahoma Wildlife Services office to start putting together the necessary forms to apply early for a take permit. That phone number is (405) 521-4039.
You can read the entire letter from Carlton regarding permits for Black Vultures, by jumping over to our website.
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Sponsor Spotlight
Oklahoma Agriculture Mediation Program, Inc. has been helping people in agriculture resolve conflicts since 1987. Since becoming the first USDA-certified mediation provider for the state of Oklahoma, our professional mediators have helped thousands of farmers, ranchers and federal agencies work together to reach realistic, durable solutions to the challenges they face.
OAMP, Inc. knows how costly and stressful it is to leave the decision about one's future in the hands of someone else, as would be the case in court or at a hearing. OAMP, Inc. is there as part of a program that helps people talk about what really matters so they can reach their own solutions in mediation. Learn more about OAMP, Inc. and the mediation process by visiting their website at https://www.ok.gov/mediation/ or contact them toll free at 1-800-248-5465.
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The U.S. rural economy will continue to face headwinds in 2020 and is expected to underperform relative to the economy of urban America. Since 2014, GDP growth in rural counties has averaged almost 1% less than in urban counties. That trend is likely to continue without a significant upswing in agricultural commodity prices, energy exploration, rural manufacturing and other industries upon which rural economic growth depend.
Despite that bearish prognosis there is room for optimism, according to a comprehensive 2020 outlook report from CoBank's Knowledge Exchange division. The U.S. farm economy has demonstrated its resiliency in the face of trade wars, extreme weather and other disruptive events. While the downside impact of trade disputes and tariffs will remain severe for many, some agriculture sectors will see stronger exports and higher prices. Rising animal protein and dairy exports will be a bright spot for producers in 2020.
"Most current signals indicate the overall domestic economy is on firm footing, thanks almost exclusively to the consumer," said Dan Kowalski, vice president of CoBank's Knowledge Exchange division. "However, without a meaningful U.S.-China trade deal, the U.S. agricultural economy will continue to struggle with uncertainty in 2020."
Click here to read more from CoBank regarding their outlook for 2020.
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Lots of excitement in the agricultural community about the possible USMCA deal between house Democrats the Trump Administration. They have gotten the Mexican Government to go along with changes demanded by Speaker Nancy Pelosi doing the bidding of the AFL-CIO and others.
Kent Bacus, the National Cattlemen's Beef Association's Director of International Trade and Market Access, says we've been plowing this same patch of ground for quite a while now, "You know this is something that's been in the works for quite a long time. We've been actively engaged with our Government to make sure that all of those good terms that have benefited the U.S. beef industry under NAFTA continue through this new agreement, so we know that that'll be the case. The big thing about this is that the democrats weren't big fans of the agreement that was originally negotiated. There were things that they wanted to see with pharmaceuticals, with labor, with enforcement, some of the environmental things, all of these are big pushes that they wanted to see included. So there's been ongoing negotiations between the House Democrats and Bob Lighthizer, the trade ambassador to try to find a path forward. Well, they were able to put all that into a new text. That text had to be agreed to between Canada and Mexico as well.
"So yesterday, while the speaker was having this press conference, our trade negotiator was on a plane to Mexico City to sign the new text with the Canadians and the Mexicans, and so now we're going forward with the ratification process. Now that will start in the house. They were hoping that that will start as early as next week, so the house will have to introduce that bill, it'll come through Ways and Means Committee, then go to the house floor for consideration, and then once it's approved there, it'll go to the Senate. The Senate finance committee will get his hands on it, and then the full Senate will vote on this. It's important to remember that under the Trade Promotion Authority, this is a straight-up or down vote. Congress can't amend this. So this long consultation process that's been ongoing for months, and plus the fact that the text of USMCA has been out there for almost a year and so members of Congress been able to read this, been able to voice their concerns, raise questions and then all of those concerns have been addressed now. So we think that this will pass.
You can listen to the entire conversation between Bacus and I on Friday's Beef Buzz - here.
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The National Livestock Companies are pleased to announce their support, once again, for the All American Beef Battalion. On Monday, December 16th, the Oklahoma National Stockyards will auction a calf for the benefit of the All American Beef Battalion. The sale will take place at approximately 11:00 a.m. in the sale arena of the Stockyards.
Ahead of the sale- I talked with the CEO of National Livestock Credit Corporation, Robert York, about the fundraiser.
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 Clyde and Penny, along with their sons, who have donated the calf for 7 years. Clyde was with the 101st Airborne in Vietnam and considered this a privilege to be able to give back to the troops. Runyan passed away earlier in 2019- and his family wanted to continue the legacy of donating the calf in his honor.
This is the 9th year for the National Livestock companies to be involved in supporting the All American Beef Battalion. With the 2018 auction bringing in more than $49,000, contributors to this event have raised over $428,000 from the annual auction of a donated calf.
You can listen to the whole conversation between York and I regarding the All American Beef Battalion, by clicking or tapping here.
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Our thanks to Midwest Farms Shows, P & K Equipment, AFR Insurance, Oklahoma Pork Council, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Oklahoma Ag Mediation Program, Inc., 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!
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God Bless! You can reach us at the following:
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