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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.
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in El Reno feeder steers and heifers sold mostly steady, few up to 1.00 higher - click here
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FedCattleExchange.com offered 744 head of cattle with 435 head actually selling in their Wednesday, January 15th sale of finished cattle - click here
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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 here
for the report posted Wednesday afternoon, January 15th
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
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|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Thursday, January 16, 2020
President Donald Trump and Chinese Vice Premier Liu have signed the US China Phase One Trade Deal at the White House on Wednesday- and the US Trade Representative's office has now released details of the deal.
The Phase One trade deal 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.
Here are the highlights of the Ag Provisions of the agreement:
Since 2009, China has been one of the top four largest export markets in the world for U.S. food, agricultural, and seafood products. China's rapidly developing economy has become one of the fastest growing markets in the world. While China represents a major market for U.S. agricultural exports, China's overly restrictive and burdensome import requirements have hampered the ability of U.S. farmers to compete on a level playing field.
The Phase One economic and trade agreement signed by the United States and China on January 15, 2020, will further open China's food and agriculture market to American products. The Phase One agreement addresses structural barriers to trade and will support a dramatic expansion of U.S. food, agriculture, and seafood product exports, increase American farm and fishery income, generate more rural economic activity, and promote job growth.
Click here to review the complete historic agreement with China.
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U.S. Sen. Jim Inhofe (R-Okla.) praised President Trump yesterday for signing the first part, also known as "phase one," of a new trade deal with China.
"President Trump is the first modern president to take China seriously - he has made this clear yet again with the signing of today's trade deal," Inhofe said. "He understands that for too long, our trade relationship with China has been flawed and that we need real and permanent change in order to have any long-term stability.
Congressman Frank Lucas (OK-03) released the following statement after President Donald Trump and China's Vice Premier Liu He signed the first phase of a trade deal between the United States and China:
"Beginning in 2015, then presidential-candidate Donald Trump promised to defend America's farmers and workers and renegotiate the unfair trade policies between the United States and our trading partners. Since then, President Trump and his Administration have stood behind that promise and today, are delivering a strong and enforceable commitment from China leveling the playing field for America's farmers, workers, manufacturers, and businesses.
U.S. Secretary Perdue issued the following statement after President Donald J. Trump signed the historic Phase One Trade Agreement between the United States and China:
"This agreement is proof President Trump's negotiating strategy is working. While it took China a long time to realize President Trump was serious, this China Phase I Deal is a huge success for the entire economy. This agreement finally levels the playing field for U.S. agriculture and will be a bonanza for America's farmers, ranchers, and producers," said Secretary Perdue. "China has not played by the rules for too long, and I thank President Trump for standing up to their unfair trading practices and for putting America first. We look forward to exporting to Chinese customers hungry for American products."
House Agriculture Committee Chairman Collin Peterson of Minnesota and Livestock and Foreign Agriculture Subcommittee Chairman Jim Costa of California issued the following statements Wednesday after President Donald Trump and Chinese Vice Premier Liu He signed the first phase of a trade deal between the two countries.
"My district produces everything from dairy, meat and poultry, to feed and pet food, to alfalfa and ethanol. This agreement appears to include positive structural changes and commitments that could increase access to the Chinese market for those and other products produced in districts across the country," said Peterson. "I appreciate the negotiators and staff at USTR and USDA who have worked so hard to get us to this point. The question now is whether China will play by the rules it has agreed to here. I'm also concerned that, long-term, certain crops may not regain the foothold they lost in the trade war. If those purchases don't materialize, I worry what effects that will have on the markets for crops like soybeans and sorghum."
House Agriculture Committee Ranking Member K. Michael Conaway (TX-11) released the following statement after the United States-China Phase One Economic and Trade Agreement signing ceremony at the White House:
"In January of 2017, few believed that President Trump could successfully renegotiate NAFTA or new trade terms with China. Even fewer believed that any changes made would eliminate the unfair trading practices of our trading partners in North America or the predatory trading practices of China that have long injured the United States.
There was a flood of comments that came to us even as the signing ceremony unfolded yesterday morning- most of our ag groups that offered comments were most certainly pleased with the agreement- but many noted a bit of "Show Me" in their attitudes- wanting to see if the Chinese will follow through on the dollar amounts pledged in purchases of Ag, Energy and other products as outlined in the agreement.
Oklahoma Farm Bureau President Rodd Moesel was one of many comments we can share with you:
"Oklahoma Farm Bureau today celebrates the signing of the first phase of a new U.S.-Chinese trade deal. Oklahoma farmers and ranchers proudly produce food, fiber and fuel for our country and our world. This trade agreement will help pave the way for our agricultural producers to receive a fairer price for their products in a world market.
"Today's agreement, which includes purchase targets of $40 to $50 billion of agricultural products by China, is the breakthrough deal agriculture has been waiting for. We thank the Trump administration for their diligent efforts to make this first phase of the Chinese trade deal a reality for agriculture and our rural communities."
As for the other groups- here are links to many of the comments we have received- we will likely have another large set of comments once the Senate approves USMCA later today
American Farm Bureau Federation - click here
Wheat Industry (US Wheat and NAWG) Click here
National Cotton Council - click here
Farmers for Free Trade - click here
Growth Energy - click here
National Cattlemen's Beef Association - click here
National Pork Producers Council - click here
U.S. Grains Council - click here
Yesterday's Ag Persepctives Podcast features an exclusive conversation that I had with Kent Bacus, Vice President for International Trade and Market Access at the National Cattlemen's Beef Association.
NCBA is delighted with the details that have come from the US Trade Ambassador's office on the phytosanitary sanctions that will be lifted with the Phase One Agreement. Non-scientific trade barriers like the ban on production technologies, the extensive traceability requirements, and the 30-month BSE restriction have greatly limited the ability of the US Beef Industry to tap into growing beef demand in China. The removal of these massive trade barriers gives Chinese consumers access to the U.S. beef they desire, and it gives America's cattlemen and cattlewomen the opportunity to provide U.S. beef to a growing consumer-base that represents one-fifth of the global population and a middle-class that is greater than the entire U.S. population.
When American-produced beef was banned from China for 14 years, NCBA worked with the U.S. government for more than a decade to reopen access to the market of nearly 1.4 billion consumers. American producers scored an initial victory in June 2017, when the Chinese market was reopened for the first time since 2003. NCBA joined U.S. Agriculture Secretary Sonny Perdue and American Ambassador to China Terry Branstad in Beijing to celebrate and mark the official reopening of the Chinese market.
Click here to listen to the whole conversation between Bacus and I regarding the trade barriers being lifted with China.
The Oklahoma Farm Bureau - a grassroots organization that has for its Mission Statement- "Improving the Lives of Rural Oklahomans." Farm Bureau, as the state's largest general farm organization, is active at the State Capitol fighting for the best interests of its members and working with other groups to make certain that the interests of rural Oklahoma are protected.
Click here for their website to learn more about the organization and how it can benefit you to be a part of Farm Bureau.
Oklahoma State University and alumni Kayleen and Larry Ferguson announced a $50 million gift from the Ferguson Family Foundation that will transform the College of Agricultural Sciences and Natural Resources in a variety of ways, including a new name. Pending approval next week from the Oklahoma A&M Board of Regents, the college will be renamed the Ferguson College of Agriculture in recognition of the gift, which is among the largest in OSU's nearly 130-year history.
The funds will create a $25 million endowment for the college's operations and designate $25 million to kick-start a fundraising campaign for an innovative research and teaching building. The historic gift was announced Wednesday at an event launching the New Frontiers capital fundraising campaign for the planned facility.
Through the New Frontiers campaign, the university seeks to raise $50 million in private support for the planned $100 million teaching and research facility, with construction beginning in the spring of 2021.
Oklahoma State University President Burns Hargis said the Ferguson Family Foundation's gift will have far-reaching benefits for all of OSU in addition to the multibillion-dollar agricultural and natural resource economies of Oklahoma and the region.
Click here to read more about this gift and plans to move forward in building the replacement to the venerable Ag Hall that continues to be at the center of the buildings currently used by the College of Ag and Natural Resources at OSU.
As 2020 gets up to speed, Oklahoma State University livestock market economist, Dr. Derrell Peel says beef producers should have at least a measure of optimism. Peel believes the market is looking a little more positive this year, "I think it's I think the overall situation is very supportive. More so, I do expect modestly higher prices, particularly in the second half of 2020, relative to what we went through and 2019. Again I think there's still plenty of potential for volatility but arguably, perhaps a little bit less than what we've been dealing with for many months, over the last year or two."
Peel says another area to be optimistic about going into 2020 is the ability to sell more beef internationally from the U.S. " We've been through an awful lot of turmoil with the trade situation over the last couple of years, and we really began to see that clarify just a little bit at the end of 2019. I wouldn't say we're out of the woods yet, there's a number of things yet to go, but we do look like we're on the verge of removing the uncertainty of the new NAFTA version, USMCA. We have a new agreement bilaterally with Japan, which is going to help us get back to a more competitive position in that market. We think we're on the verge here of signing a partial trade deal with China and begin to sort of unwind some of the things that have been hindering those markets. So for all of those reasons, the overall trade picture for beef and meats, in general, looks pretty positive."
One thing to keep an eye on in 2020 is the impact of African Swine Fever. Peel says this will affect all meat markets, "We literally have lost about 20 to 30% of the hogs on the planet in the last year to this disease. And you know that affects pork markets, first and foremost, but it really affects all protein markets because there's simply less meat on the planet now than there was. And that's going to be supportive of these markets as we go through certainly 2020, and probably sometime beyond that."
You can listen to the entire conversation between Peel and I on Wednesday's Beef Buzz - here.
USDA's Natural Resources Conservation Service (NRCS) reminds historically underserved producers, who are participating in the Environmental Quality Incentives Program (EQIP), of the advance payment option. This option allows them to get conservation practice payments in advance of practice implementation.
"The advance payment option makes NRCS conservation assistance more accessible to underserved producers," said NRCS Chief Matthew Lohr. "It enables them to participate without having to worry about covering up-front costs themselves or looking for a loan to cover the costs. Some farmers don't have the financial ability to wait for the NRCS reimbursement to arrive."
EQIP provides financial and technical assistance to address natural resource concerns and to deliver environmental benefits, such as improved water and air quality, conserved ground and surface water, reduced soil erosion and sedimentation, and improved or created wildlife habitat. In fiscal 2019, NRCS invested $1.3 billion through EQIP to implement conservation practices on more than 13 million acres.
Click here to read more about the advance payment option from the USDA.
|Latest Road to Rural Prosperity is Live- AJ Griffin Talks Rural Delivery of Mental Health Services with Charles Danley
Guest Host AJ Griffin is on the Road to Rural Prosperity with the CEO of the Grand Lake Mental Health Center based in Vinita, Oklahoma, Charles Danley- Grand Lake provides mental health services in 13 counties in northeast and northcentral Oklahoma.
Charles Danley has been instrumental in delivering innovative mental health services as Grand Lake serves as a model with agencies all across rural Oklahoma and Rural America.
Today's Road Podcast is Powered by the Oklahoma Rural Water Association.
Click or tap here to jump over to our Soundcloud platform to hear this newest of our Podcasts as we continue to seek out Rural Oklahoma excellence by traveling the Road to Rural Prosperity.
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