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Let's Check the Markets!
Today's First Look:
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures
- click or tap here
for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
Carson Horn, Associate Farm Director and Editor
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
Macey Mueller, E-mail and Web Writer
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, August 26, 2016
Pro Farmer Crop Tour Concludes- Scouts See Excellent Soybean Crop- Great But Not Record Corn Crop
The East and West Legs of the 2016 Pro Farmer Crop Tour merged on Thursday evening in Rochester, Minnesota- and the end of the tour had the scouts feeling better about the potential of the US soybean crop in the major midwest states than about the corn crop.
The last two states surveyed were Iowa and Minnesota. For Iowa, the Tour average corn yield was 188.17 bu. per acre, up 4.4% from last year's Tour. For Minnesota, the average corn yield from Tour samples came in at 182.32 bu. per acre, down 4.5% from year-ago.Chris Clayton
with DTN tweeted about the Iowa corn number- "That's 9 bushels below USDA. Tour usually measures Iowa heavy compared to USDA."
For all the states that the Tour sailed through- here are the corn bushels per acres estimates:
Overall, one tour observer, Indiana farmer Jim Smith
commented on Twitter "Watching #pftour16
the past 4 days and to me it is obvious that USDA overestimated this corn crop, not a disaster but not massively huge."
On the soybean side of the ledger- Brian Grete
, the Eastern Tour Director says of Day Four "In the soybeans we sampled, pod counts were disappointing. We saw Sudden Death Syndrome and septoria brown spot in many of the fields. There was also scattered weed pressure, but it wasn't as noticeable as the foliar diseases. Soybeans have the moisture to finish strong, but disease pressure in eastern Iowa may limit the soybean crop from fully benefiting from the favorable August weather.
"For Iowa, the Tour average soybean pod count in a 3'x3' square was 1,224.28, up 0.4% from last year.
Click here to see the Pro Farmer overview
"For Minnesota, the average soybean pod count was 1,107.6, down 1.0% from last year's Tour."
of Day Four- as we mentioned they will be rolling out their conclusions from the tour this afternoon after the markets close for the week.
It's great to have one of the premiere businesses in the cattle business partner with us in helping bring you our daily Farm and Ranch News Email- National Livestock Credit Corporation. National Livestock has been around since 1932- and they have worked with livestock producers to help them secure credit and to buy or sell cattle through the National Livestock Commission Company. They also own and operate the Southern Oklahoma Livestock Market in Ada, Superior Livestock, which continues to operate independently and have a major stake in OKC West in El Reno. To learn more about how these folks can help you succeed in the cattle business, click here for their website or call the Oklahoma City office at 1-800-310-0220.
|Opportunity Knocks on Farmers' Doors as Window for Canola Planting Opens
The planting window opens for canola September 10 and lasts only about 30 days, according to Ron Sholar of the Great Plains Canola Association, which means farmers need to be making some quick decisions on whether or not to add a canola to their rotation this year. Sholar says though planting intentions across the state are up and with good reason.
"There's some potential to make some profit on canola," Sholar said. "Whereas we're really struggling with our other commodities."Sholar explained that back in 2014, canola acres in Oklahoma were up around 300,000. He says in 2015, the number of acres in canola was much lower. However, he says after hosting several educational events through the association, he believes attitudes have come back around and insists there are a lot of growers with a lot of interest and a lot of optimism about canola again. Admittedly, he acknowledges some of that is fueled by undesirable wheat prices, but nonetheless there is the potential for profit to be made off canola this year. He challenges farmers though not to take his word for it, but to use tools like OSU's budget calculators and says to plug your own numbers in and find what works best for your operation. He believes that not only will farmers see the financial advantages of canola, but will also enjoy the benefits it brings to your fields down the road."We believe very strongly and there's lots of evidence to prove it that growing some canola will make a grower a better wheat grower," Sholar said. "It will improve yields; it will clean up some grassy weeds for which we have no other controls in wheat. This is an opportunity to clean those up, improve wheat yields by fifteen to twenty percent and even more sometimes and a better price than we've seen for some other things."While there is still almost two weeks ahead of them before that September 10 date, farmers need to also be aware of a deadline even closer says Sholar. He urges that producers should make sure to sign up for crop insurance before this year's cutoff date which is August 31.Listen to Sholar talk more about canola planting in Oklahoma.
Be sure to catch Sholar, who will join me for the weekly In the Field segment on KWTV News9 in the Oklahoma City area on Saturday morning at 6:40 a.m.
Wheat planting season is just around the corner, and cattle producers are already thinking ahead as they consider how potential wheat pasture will fit into their fall forage plan. Extension Livestock Market Economist Dr. Derrell Peel of Oklahoma State University says producers really have some opportunities here to take advantage of some current market situations."Because of the price of wheat, certainly many producers are interested in grazing," Peel said. "That may be their best opportunity for some returns on their wheat land and they may be actually thinking about graze out now."Currently, Peel affirms there is a growing supply of heavy range cattle being bought up by feedlots. As a result, he says, lighter cattle are being undervalued relative to what a feedlot could actually pay for them. Peels claims this is the market's way of telling producers, it would like for them to put that weight on cattle before moving them off to the feedlot. He explains this could spell out a good opportunity for stocker and backgrounding production."At this point and time, there's actually a pretty strong signal in the marketplace and feeder cattle prices for that added gain that you would do in a stocker or backgrounding program," Peel said. "I think that's likely to persist through the fall and into the winter."The grain market is waving in producers to make this decision as well, with lots of cheap grain to be had. But with hay production up across the country and pastures in pretty good shape, according to Peel, he says - why buy it when you can utilize the forage that you have?"Even though grain is pretty cheap," Peel said, "we still think it's more efficient for you to utilize that forage to put some weight on feeder cattle."Listen to Dr. Peel explain the opportunities for cattle producers being signaled by the marketplace during the latest Beef Buzz.
|Tighter Margins Grip Co-ops as Ag Commodity Cycle Faces Down-Phase
Accounts receivable at farm supply co-ops and other ag retailers are growing and so are their challenges, according to a new report from CoBank. After an extended run of impressive financial performances, retailers are adjusting to a tougher economic environment accompanying the down-phase of the current ag commodity cycle.
Current headwinds are directly related to a sharp decline in commodity prices that has reduced farm income and tightened farm cash flows. A downturn in fertilizer prices and a spate of mergers and acquisitions in the seed and fertilizer industry have aligned to create adversity for ag retailers going forward.
"The drop in farm income over the past three years is the steepest decrease since the Depression," says Tanner Ehmke, CoBank senior economist covering the grains, oilseeds and ethanol, and farm supply sectors. "Producer incomes have fallen more than 50 percent from 2013 to today and their debt-to-income ratio is on the rise. Not surprisingly, total accounts receivable for ag retailers posted an 11 percent gain for 2015, and that's expected to grow in the year ahead due to ongoing farmer cash flow challenges."
Farmers stretching existing credit lines, cutting costs and reducing pre-pay practices have retailers unsure about demand opportunities. Being more price sensitive creates additional competitive pressures on ag retailers as farmers explore new supplier sources in search of ways to lower expenses.
Click here to read more about the challenges ag retailers are facing and find a link to a brief video synopsis of the report, "Ag Retailers - Cyclical Challenges Ahead."
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|ICYMI - OCA's Dallas Henderson Previews This Weekend's Range Roundup
In Case You Missed It - Dallas Henderson with the Oklahoma Cattlemen's Association joined me for In the Field last weekend as she previewed the 32nd Annual Oklahoma Cattlemen's Association Range Roundup. The 2016 renewal of the event happens today and tomorrow - Friday and Saturday, August 26 and 27 - at the Lazy E Arena outside of Guthrie.
We talked about the historic ranches that will compete for bragging rights and the desire to raise money for the Children's Miracle Network.
Click here to watch our on camera conversation and find more information about the 2016 Range Roundup.
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|Horn Canna Farm of Carnegie, Okla. Has Added Vibrance to Southwest Oklahoma Since the 1920s
Six of one, two million of the other.
Sure that's not how the phrase goes about two ways of considering the same thing. However, the Horn Canna Farm originated and continues to operate in southwest Oklahoma because they don't take the same path as others.
The story of Horn Canna Farm, Inc. dates to the 1920s when Dustin Snow's great grandma Frances Horn received six canna bulbs from her aunt in Arkansas. Before long the cannas had claimed a large portion of the family's vegetable garden. That's when Snow's great grandpa John Horn started taking cannas on his daily vegetable routes to surrounding communities in 1928. Even during tough times, his canna sales grew and became a significant source of income for the family.
An endeavor that started with six canna bulbs decades ago remains a family business four generations deep that now produces about two million bulbs annually.
to read more about how Dustin and his wife Nikki Snow are continuing the family's canna legacy.
|Drought Rises- Rainfall Helps- Summertime Temps To Take Us from August to September
Several graphics to share with you this morning to let you know where we are on Drought, Rain to Allow Wheat and Canola Planting to start and what's ahead into next week- let's start with the latest Drought Monitor.
According to Gary McManus
- our State Climatologist- 36% of the state is now in at least "abnormally dry" conditions, up from 3% three months ago. The amount of D1-D2 increased just a tad from 8% to 9%. D1 is Moderate Drought- D2 is Severe Drought- Here's the latest graphic released Thursday morning:
Unfortunately- where the latest rainfall has fallen does NOT help a lot of the drought areas shown- except for the areas just north of Oklahoma City in the Kingfisher-Logan County areas- We grabbed this snapshot from the Oklahoma Mesonet (What gives with the gray map???) and it shows some really nice rainfall amounts for late August- enough in many cases to set up wheat planting in a matter of days- see our story above with comments with Derrell Peel on wheat pasture possibilities- and likely a help for canola planting which is still a little over two weeks away.
The eastern areas showing drought and southern areas may have to wait awhile to get rain relief- based on the latest forecast that Jed Castles has whipped up- here is his nine day forecast as seen on News9 on this Friday morning.
Next Thursday- September first- has an expected high in the mid 90s- as does the expected start of the Labor Day weekend. Rainfall chances are limited- altho it seems like in recent weeks- they have popped up even when not in the extended outlook. (We can always hope.)
As for Eastern Oklahoma- Alan Crone
with the News on 6 offers his thoughts on the weather ahead for folks in northeastern Oklahoma and southeastern Kansas- click or tap here
to read his latest weather blog.
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