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Let's Check the Markets!
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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.
Here's a set of links to the Feeder/Stocker Auction Reports posted on our website this week- click on the name of the market to get the report that we shared from USDA Market News
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
KC Sheperd, Associate Farm Director and Editor
, Farm Editor
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday. April 3, 2020
Thirty-one agriculture organizations and businesses are calling on the U.S. Small Business Administration to include agricultural businesses in the Economic Injury Disaster Loan program, as intended by Congress in the CARES Act.
The notice on the SBA website currently states applicants must certify they are "not an agricultural enterprise (e.g., farm), other than an aquaculture enterprise, agricultural cooperative or nursery." Yet, the actual text of the CARES Act does not exclude agriculture producers and states all businesses with fewer than 500 employees can participate in the program.
In a letter to SBA Administrator Jovita Carranza, the agriculture groups wrote, "Agricultural producers and businesses are critical elements of this nation's economy and food system. Prior to COVID-19, farmers and ranchers had already experienced a drastic 24-percent decline in net farm income from highs experienced just six years ago. With the further downturn in the economy, agricultural businesses are at risk of closure and may be required to lay off employees."
The American Farm Bureau Federation is among the organizations that signed the letter and AFBF President Zippy Duvall said, "Farmers and ranchers are the critical first link in America's food supply chain. The pandemic's impact on agriculture is coming in waves due to dramatic changes in demand, falling commodity prices and supply challenges. Farmers must have access to the Economic Injury Disaster Loan program, as Congress intended, to ensure America continues to have access to healthy, affordable food."
The National Pork Producers council also expressed their support for the letter saying, "Agricultural producers and businesses are critical elements of this nation's economy and food system. Prior to COVID-19, farmers and ranchers had already experienced a drastic 24-percent decline in net farm income from highs experienced just six years ago. With the further downturn in the economy, agricultural businesses are at risk of closure and may be required to lay off employees," the letter explained. "Many agricultural producers need access to this critical source of financing to help preserve their businesses and avoid further disruptions to our economy and food systems," the letter added.
"As part of the critical U.S. food supply infrastructure, U.S. pork producers are committed to keeping Americans and consumers around the world supplied with nutritious protein. To ensure a continued and uninterrupted supply of pork to America's kitchens, hog farmers must have access to necessary resources, including this vital economic disaster loan program," said NPPC President Howard "A.V." Roth, a pork producer from Wauzeka, Wisconsin. "We urge SBA to implement this program as intended by Congress, allowing pork producers to participate and remain committed to keeping consumers supplied with nutritious protein," he added. To read more from the Pork Council, click here:
Oklahoma AgCredit is a member of the Farm Credit System that serves every part of agriculture from the smallest operations to the largest - and everything in between. Whether helping a young farm family begin, supporting our veterans as they return home and take up farming or financing U.S. agricultural exports around the globe, Farm Credit is committed to the success of American agriculture.
For more information, click here
to go to our Oklahoma AgCredit website.
Last week's federal ruling on the Beef Checkoff lawsuit is a huge victory for cattle producers, said Colin Woodall, CEO of the National Cattlemen's Beef Association, during a Beef Buzz conversation.
The ruling followed a long-term standoff between R-CALF, the USDA and the Montana Beef Council over proper stewardship of the checkoff funds. The judge ruled against R-CALF.
This reaffirmed the checkoff is being spent correctly and there is adequate oversight to ensure that continues to happen, Woodall said.
"This ruling is extremely important," Woodall said, "as it shows all the checks and balances are in place to ensure the money is being spent correctly. None of the money is being spent on lobbying for any group and is being used for research and promotion."
Woodall said it is especially exciting for the Montana Beef Council as they can now get back to spending the checkoff dollars to help the cattle industry.
The bottom-line message is the accusations the money is being spent recklessly is completely false, Woodall said.
U.S. Sen. Jim Inhofe (R-Okla.) praised President Trump for his leadership after his announcement that Saudi Arabia and Russia will reduce their oil production:
"Excessive dumping from Saudi Arabia and Russia has been flooding our oil market and driving down oil prices beyond what is sustainable to lift a barrel. Prices that low aren't just a result of low demand, they are an effort to hurt our domestic oil and gas producers here in Oklahoma. President Trump is right to demand Saudi Arabia and Russia reduce their output and provide relief. Additionally, the president's leadership here preserves our additional tools, including 232 investigations, in the event that Saudi Arabia and Russia don't adhere to their agreement.
"This morning, I had the pleasure of speaking with the Saudi Ambassador, Princess Reema bint Bandar, in which she affirmed that Saudi Arabia has called for an OPEC meeting to negotiate a resolution to global oil production and stabilize the global oil market. I told the Ambassador that we want to see results, and I look forward to seeing the details of these efforts in the coming days."
|Dought Map Continues to Show the Far Western Oklahoma Panhandle in Dire Need of Rain
Taking a look at the latest drought monitor map released Thursday morning- based on data through March 31st- it still shows a small section of the far western Oklahoma Panhandle in need of rain. This region, which includes all of Cimarron County and part of Texas County, has been plagued with moderate to severe drought stretching back into October. It's been 96 days since those folks have even seen a rain of at least a quarter inch.
Recent rains have improved the situation in southwest Oklahoma where Greer County is the only area showing a section in the abnormally dry category.
Overall, today, only about 6 percent of the state is listed as abnormally dry to moderate drought, compared to over 9 percent last week.
There is no extreme or exceptional drought anywhere in Oklahoma.
The vision of the Oklahoma Beef Council is to be a positive difference for Oklahoma's farming and ranching families and the greater beef community and its mission is to enhance beef demand by strengthening consumer trust and exceeding consumer expectations. To learn more, visit www.oklabeef.org. Also, don't forget to like its Facebook page at www.facebook.com/oklabeef for stories on Oklahoma's ranching families and great beef recipes.
This week Dr. Anderson talks about the USDA planted Acre estimates. He says there is enough difference in the numbers we saw, and what the market was expecting. He says we could see some price changes as a result because some acres came in more than expected, and some came in left. Anderson said this could be posive for the wheat and beans, but negative for corn.
This week on SUNUP, we start with an update on the wheat crop from Amada Silva.
- Then, Josh Lofton says canola is progressing across the state. He also advises producers to move forward with planting summer crops.
- Derrell Peel says limited restaurant business impacted the availability of meat for grocery stores and, eventually, consumers.
- In Cow-Calf Corner, Glenn Selk explains how to determine the proper number of cows to put with a bull.
- Dr. Rosslyn Biggs has information about handling animals while protecting yourself and others from biosecurity risks.
- Alex Rocateli offers recommendations on when producers should aerate fields.
- Brian Arnall tells us the window for treating yellowing wheat is closing.
- Kim Anderson analyzes why the USDA's Planted Acres estimates were close to market estimates.
- Finally, Amy Hagerman says producers can eventually expect federal payments through the newly-passed CARES Act.
Oklahoma Farm Bureau this week joined 25 state Farm Bureau organizations in urging the U.S. Department of Agriculture to support livestock producers during the COVID-19 outbreak.
In a letter, the group asked Agriculture Secretary Sonny Perdue to search for opportunities to provide relief to cattle producers dealing with the impact of the coronavirus pandemic.
"Cattlemen and women have lost value on their livestock due to the dramatic market drop that occurred in response to the pandemic," the letter states. "Since the inception of the virus, live cattle futures have been down roughly 28%, posing a major threat to our nation's cattle producers' ability to continue operating."
The letter requests that Secretary Perdue direct a portion of the $9.5 billion from the recently passed Coronoavirus Aid, Relief and Economic Security Act to stocker and cow-calf producers.
"While we are pleased the CARES Act provides $9.5 billion for various agricultural industries, we must ensure struggling cattle producers receive enough assistance to help make up for the significant losses they have endured," the state Farm Bureaus write.
The group of Farm Bureaus also suggested using the Commodity Credit Corporation's additional borrowing authority to offset losses in the cattle industry and asked the USDA to monitor potential price manipulation.
COVID-19 has brought the U.S. economy to a screeching halt, ushering in a recession in the process. For most businesses, the sudden stop to the economy is more jolting than the financial crisis of 2008 and has forced hard, immediate decisions about employees and finances. According to a new Quarterly report from CoBank's Knowledge Exchange, COVID-19 has also underscored the critically important nature of agriculture and other industries essential to rural America.
"This quarter will largely define the next year in terms of the economy and how severe the damage caused by the coronavirus will be," said Dan Kowalski, vice president, Knowledge Exchange, CoBank. "Nearly everyone will be impacted to varying degrees and the pace of the recovery will be uneven. But the economy had been on good footing and it's entirely possible that we can get back to reasonable strength within a few quarters."
The U.S. grain sector remains stuck in a rut, with pressure on commodity prices, weakening basis for corn and soybeans in some markets, and export volatility likely over the next two to three months. Since 2020 began, corn prices have declined by 12% and soybeans prices have dropped by 7%.
While crop farming fundamentals remain challenging, ag retailers enter the 2020 growing season on relatively stable footing. Retailers are optimistic for a full agronomy season given pent-up demand for fertilizer and crop protection products following last year's complicated and wet fall application season.
The U.S. cattle complex has seen a swift and sharp decline in the last month following the drop in global equities and oil prices. Since mid-January, April live cattle futures have fallen by approximately 25%. The beef complex profit pool is shifting in favor of packers at the cost of lower feeding margins. The loss of restaurant and foodservice customers due to COVID-19 will test beef prices this spring.
The full Quarterly report is available on cobank.com. Each CoBank Quarterly provides updates and an outlook for the Global and U.S. Economic Environment; U.S. Agricultural Markets; Grains, Biofuels and Farm Supply; Animal Protein; Dairy; Other Crops; Specialty Crops and Rural Infrastructure Industries.
This N That- Custom Harvesters Say They WILL Be There for 2020 HRW Harvest,
Earlier this week- we had some commentary offered by OSU's Dr. Kim Anderson where he offered a "possible concern" about the harvest season- he wrote "Another concern may be that the U.S. hard red winter wheat harvest starts in Texas in about six weeks and will be in Oklahoma the last of May. Producers may want to develop harvest strategies in the case that custom harvester movement is limited. Producers who harvest their own wheat may consider generating additional income by agreeing to custom harvest additional acres."
Well- the US Custom Harvesters are taking exception to that worry- saying that concern is NOT going to happen- that is- custom harvesters WILL BE right there when you need them.
Mandi Sieren, Operations Manager for US Custom Harvesters traded emails with me over the last day or so and offered this response to Dr. Anderson's commentary- "So our point I guess is that putting that concern out there is simply unfounded. We have plenty of crews that will make this happen. And if one won't, that's what our organization is here for. We have many farmers call us looking for a harvester and they find one.
"So just because of COVID, there's no reason to put a fear out there that custom harvesters won't come south. That's just not true and could have just lost work for them. I'd appreciate you passing that along."
AND SO WE HAVE.
National Milk Producers Federation Chief Economist Peter Vitaliano says current coronavirus-created gloom over dairy prices as expressed in futures markets may turn out be overstated in the end, but that the pain felt by producers over the next few months will be real, as lower prices make their way into milk checks paid to farmers for their milk.
"These are unusual circumstances that I'm not sure the futures have figured them out yet," Vitaliano says in an NMPF podcast just released. Because milk in stores now was purchased at earlier, higher prices, "producers are not seeing this in their milk checks yet," he said. "That's going to come over the next several months, because the forecasts are all indicating that we're going to be to be hitting the trough in May and June."
Dr. Glenn Selk, Oklahoma State University Emeritus Extension Animal Scientist, offers herd health advice as part of the weekly series known as the "Cow Calf Corner" published electronically by Dr. Peel and Dr. Glenn Selk. Today, Dr. Selk talks about bull managment prior to the breeding season.
Before the breeding season begins, a few simple management procedures involving the bulls can increase the likelihood of a high pregnancy percentage among the cows. Any rancher that purchases a young, highly fitted or conditioned bull should plan to gradually reduce the fleshiness of the bull before the breeding season.
You want your bulls to get their working clothes on and get in good condition- but it needs to be done gradually- otherwise, "dramatic nutritional changes can have an adverse effect on semen production, so it is important that these ration modifications be done gradually. Producers need to try to keep the total diet of these young bulls at, or near, 12% crude protein."
FINALLY- Gardiner Angus in Ashland, Kansas is holding their bull sale today and tomorrow- there are changes to how they are doing things- click here for the latest adjustments in this COVID-19 world- and click here for their complete website where they have the latest details on the 450 Registered Bulls and 750 Registered GAR Females that will be sold.
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