~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Monday July 19, 2010A service of Producers Cooperative Oil Mill, Midwest Farm Shows and KIS Futures!
-- Talking Winter Canola with Heath Sanders of PCOM
-- Feedlot Closeouts Are in the Black- We talk Cash Cattle Markets with Dr. Derrell Peel
-- Oklahoma Feedlot Pioneer Ladd Hitch Inducted Into Cattle Feeders Hall of Fame
-- Ethanol Subsidies Costing Taxpayers at the Pump
-- BRD Causes Feedlot Animal Health Headaches- Plus Hefty Economic Damage
-- Scott Dewald is First Ag Group Exec to Receive the 2010 Oklahoma Society of Association Executives Executive of the Year Award
-- KCBT Sets New Daily Trading Volume Record in HRW Wheat Futures
-- Let's Check the Markets!
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are proud to have KIS Futures as a regular sponsor of our daily email update. KIS Futures provides Oklahoma Farmers & Ranchers with futures & options hedging services in the livestock and grain markets- Click here for the free market quote page they provide us for our website or call them at 1-800-256-2555. When you call them- ask them about their brand new Iphone App which provides futures quotes for your Iphone.
We are also excited to have as one of our sponsors for the daily email
Producers Cooperative Oil Mill, with 64 years of progress through
producer ownership. Call Brandon Winters at 405-232-7555 for more
information on the oilseed crops they handle, including sunflowers and
canola- and remember they post closing market prices for canola and
sunflowers on the PCOM
website- go there by clicking here.
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Talking Winter Canola with Heath Sanders of PCOM
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The 2010 Winter Canola season appears to have been a success- and one of the players helping farmers succeed with this alternative crop to winter wheat was Heath Sanders, Extension Canola Specialist. Sanders has moved on from Extension- but will continue during the 2011 crop season helping canola producers as a field agronomist for Producers Cooperative Oil Mill- based in Central Oklahoma.
Sanders believes that however you measure the 2010 crop- it proved to
be a great year for canola. Acres were close to being doubled from 2009 to
2010, yields were excellent and Sanders tells us that producers are
beginning to see the positive benefits of a canola rotation when they
return a piece of ground back to wheat.
Click on the LINK below to jump to our interview with Heath Sanders about the 2010 Canola crop- and the prospects for 2011. AND- we have details of the 6th Annual Winter Canola Conference set for tomorrow at the Garfield County Fairgrounds in Enid.
Feedlot Closeouts Are in the Black- We talk Cash Cattle Markets with Dr. Derrell Peel
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~For the second week in a row- cash cattle prices were higher this past week, with sales in the southern plains feedlots hitting $94.00, according to the Daily report issued by the Texas Cattle Feeders Association. That was a $1.50 higher than the $92.50 seen a week earlier. We talk about this bounce higher from the lows we saw in June with Oklahoma State University Extension Livestock Market Specialist Dr. Derrell Peel.
Dr. Peel says that there was a lot of anxiety as we saw cash cattle prices slip from the May highs to the June lows in a rapid march to the downside- the same was true with wholesale beef prices. However, once we stabilized, it seems like there is enough demand to have helped turn our cash cattle prices up and keep them where closeouts allow most feedyards to make some money.
Click on the LINK below for our Monday Beef Buzz with Dr. Peel- The Beef Buzz is a feature program that is heard daily on great radio stations on the Radio Oklahoma Network- and you can check out all of our Beef Buzzes on our website- www.OklahomaFarmReport.Com- just click on the Beef Buzz button on the left hand side of any page.
Oklahoma Feedlot Pioneer Ladd Hitch Inducted Into Cattle Feeders Hall of Fame
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Cattle Feeders Hall Of Fame Has Inducted H.C. (Ladd) Hitch And Kenny Monfort as its newest members and presented a special honor to former Texas Cattle Feeders Association President & CEO Richard McDonald.
These legends are the second class of inductees- as Paul Engler and W.D. Farr were selected as the 2009 honorees.
Ladd Hitch was a member of the prominent Oklahoma Panhandle family that has been involved in ranching and farming since the 1880s. He is considered to be the one who established the family feeding business. Hitch was among the first to believe that cattle feeding could succeed in the High Plains using locally produced feedstuffs rather than shipping animals out of state to be finished. From its small beginnings with a few pens in 1953, the Hitch family feeding business has grown to three separate yards with a capacity of 160,000 head. Two of his grandsons, Chris Hitch and Jason Hitch, currently head the family business, which also includes ranching, farming, a large pork operation and other interests.
Kenny Monfort is remembered for transforming his family's small farm in
Colorado into a vast cattle feeding and beef-packing business. A key
element of his accomplishments was his recognition of how to improve
efficiencies within the industry by combining feeding with
Ethanol Subsidies Costing Taxpayers at the Pump
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~A report issued this past week by the Congressional Budget Office (CBO) suggests the U.S. government may be over-subsidizing ethanol. According to CBO's analysis, 11 billion gallons of biofuels were produced and sold in the United States in 2009, and ethanol produced from corn accounted for nearly all of that total. Corn ethanol subsidies cost taxpayers $1.78 per gallon of gasoline.
We have a LINK to the full report- click on the link at the bottom of this story for the CBO report on Ethanol.
The report underscores the National Cattlemen's Beef Association's position that it's time for the mature corn-based ethanol industry to stand on its own. "While we support the need to advance renewable and alternative sources of energy, an open and free market is the best driver of competition and innovation in all industries," said Kristina Butts, director of legislative affairs. "Favoring one segment of agriculture at the expense of another does not benefit agriculture as a whole or the consumers that ultimately purchase our products."
Meanwhile, the Renewable Fuel Association- an advocacy group for ethanol- says not so fast. In an email from the RFA- they report that "the RFA has fully digested the CBO report that came out on Wednesday. In that report, CBO relies on some questionable assumptions to make the tax credit for ethanol use seem wasteful. Additionally, CBO didn't provide any context in its report, such as comparing ethanol tax incentives with those that still support Big Oil's destruction of the environment." They have a response to the CBO report- which you can read by clicking here.
BRD Causes Feedlot Animal Health Headaches- Plus Hefty Economic Damage
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~n today's economic environment, cattle producers are looking to maximize the performance of each animal. Bovine respiratory disease (BRD) is an economic challenge to all cattle producers. This disease complex accounts for approximately 75 percent of feedlot illnesses and 50 percent of feedlot deaths. These numbers represent lost productivity as well as increased labor and medical costs to treat the cattle. While the medical costs associated with these numbers are significant, the economic impact of BRD on the performance of cattle can be devastating.
An Oklahoma State University study shows reduced carcass merit for animals with lung lesions at harvest and a reduced carcass value due to fewer pounds and lower marbling scores. Cattle with active respiratory tract lesions had lower dressing percentage and marbling scores than those with inactive lesions. Equally as important, marbling score, fat thickness and hot carcass weight was reduced in cattle with any lesion as compared to cattle with no lesions. Decreased performance due to BRD can be an economic blow to producers and cattle feeders.
You can read more about the economic damage that BRD brings home to the ranch- and into the feedlot- just click on the LINK below.
Scott Dewald is First Ag Group Exec to Receive the 2010 Oklahoma Society of Association Executives Executive of the Year Award
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The George Nigh Association Executive of the Year Award is the highest award presented by the Oklahoma Society of Association Executives. Only Association chief staff officers are eligible. This award recognizes excellence in association management as well as significant contributions to OSAE and the association community.
At their recent annual conference held in Norman, the OSAE presented this award to the Executive Vice President of the Oklahoma Cattlemen's Association, Scott Dewald. This is the 18th year for the award to be given- and Dewald is the first agricultural Executive to be so honored.
Congrats to Scott for this recognition by the OSAE- an honor that reflect well on the honoree as well as on the business of agriculture here in our state.
KCBT Sets New Daily Trading Volume Record in HRW Wheat Futures
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Kansas City Board of Trade on Thursday of this past week set a new all-time daily volume record in its Hard Red Winter Wheat futures contract. A new daily volume record was set for electronic trading in the contract as well.
HRW wheat futures volume (open outcry plus electronic) tallied 47,937 contracts, exceeding the previous record of 47,933 contracts set on Feb. 11, 2008.
HRW wheat futures electronic trading volume for the day amounted to 42,913 contracts, breaking the previous daily record of 40,588 contracts that was set nearly a month ago, on June 16, by 5.7 percent.
Pricing saw large gains in KCBT wheat futures on Thursday, with the September contract up 33 14 cents, closing at $6.05 3/4. Contributing to the HRW wheat futures rally and record-breaking volume was declining production prospects out of Russia/Kazakhstan, which is reportedly seeing the worst drought in 130 years, KCBT traders said. Strength in French milling futures prices, as well as recent weakness in the U.S. Dollar, also added to the strength in the market.
Wheat futures volume traded thus far in July is at 311,032 contracts, which already exceeds the total of 299,156 contracts traded in all of July 2009. This active volume comes on the heels of a new all-time monthly volume record for HRW wheat futures in June, when 612,733 contracts were traded.
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Let's Check the Markets!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We've had requests to include Canola prices for your convenience here- and we will be doing so on a regular basis. Current cash price for Canola is $7.65 per bushel as of the close of business on Friday, while the 2011 New Crop contracts for Canola are now available are $7.50 per bushel- delivered to local participating elevators that are working with PCOM.
Here are some links we will leave in place on an ongoing basis- Click
on the name of the report to go to that link:
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