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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.
OKC West in El Reno had an estimated 1,000 head on Tuesday for the Calf sale- Compared to last Tuesday: All classes of steer and heifer calves were too lightly tested for an accurate trend but a steady
undertone from last week's lightly tested, and sharply lower market was noted.
for their report from USDA Market News.
Each afternoon we are posting a recap of that day's markets as analyzed by
Lewis of KIS futures
- Click 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
KC Sheperd, Associate Farm Director and Editor
Sam Knipp, 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
Wednesday, April 8, 2020
Frank Lucas Talks Pandemic, Ag Relief and Calving Season on the Road to Rural Prosperity
Like many Oklahoma ranches, it is calving season on the Frank and Lynda Lucas ranch in Roger Mills County. The challenges unique to keeping a close watch on the herd are serving as a distraction from the COVID-19 pandemic swirling about our
lives. That is especially true for Congressman Lucas, who, as many of you know, serves in the U.S. House of Representatives for Oklahoma's 3rd congressional district.
Congressman Lucas joined yours truly as a guest on the RON Road to Rural Prosperity podcast. Lucas addressed several issues surrounding the COVID-19 crisis, including the CARES Act, helping the agriculture industry recover and improving broadband
access for rural America.
Lucas has been "sheltering in place" on the ranch since Congress recessed about three weeks ago.
"Lynda Lucas has instructed me to help with calving season whenever I am not talking to staff or constituents via phone and on conference calls," Cong. Lucas said.
Lucas has closed all his offices and instructed staff to continue working from home.
The Oklahoma congressman's position on the House Committee on Science, Space, and Technology gives him a unique perspective of how we are using science to recover from this pandemic.
While participating in numerous sessions with the CDC, I know that 80 percent of the population will recover just fine, Lucas said. We must protect the other 20 percent. I am confident we will have a vaccine in one to one and a half years. Hopefully, sooner
than later, he said.
Lucas noted the aid packages passed by Congress would help the economy and boost our health care system. "Two trillion dollars is a lot of money," Lucas said. "We cannot let agriculture, main street, and our industrial base collapse."
The Oklahoma rancher and former chairman of the House Agriculture Committee is pleased agriculture received a share of the funds included in the CARES Act.
Lucas said there is $55 million for APHIS, $33 million for the Food Safety Inspection Service, and $45 million for the Ag Marketing Services. He is also pleased that $14 billion will replenish the Commodity Credit Corporation revolving fund.
There is also $9.5 billion earmarked for coronavirus response. Lucas said he is not sure how USDA Sec. Perdue will use this money but suggested he could use past disaster programs as a template.
Read more- and then take a listen to our latest Road to Rural Prosperity Podcast with Congressman Frank Lucas by
clicking or tapping here.
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Purdue University/CME Group Ag Economy Barometer recorded its largest one-month drop in sentiment during March. The barometer dipped 47 points to a reading of 121, as concerns over the impact of the global pandemic on the agricultural economy weighed
heavily on farmers' minds. The Ag Economy Barometer is based on a mid-month survey of 400 U.S. agricultural producers and was conducted from March 16-20, 2020 as the coronavirus crisis escalated in the U.S. and around the world.
Both the Index of Current Conditions and Index of Future Expectations also recorded their largest one-month declines. Farmer sentiment regarding current conditions fell 43 points to a reading of 111 and future expectations fell 49 points to a reading
of 126. Collectively, this month's decline in the barometer and its sub-indices pushed the index down to levels last seen in September 2019, when weak commodity prices and an unresolved trade dispute left many farmers concerned over their financial futures.
"First and foremost, the U.S. farmers we surveyed said they were concerned about how the coronavirus will impact their farms in 2020 leaving little doubt that it was the leading driver for this month's drop in sentiment," said James
Mintert, the barometer's principal investigator and director of Purdue University's Center for Commercial Agriculture. "While originally it was thought that the coronavirus effect would be limited to trade with China, now
it appears producers are bracing for challenging financial times leading into the 2020 planting season."
To further understand the impact of the coronavirus on this month's drop in sentiment, producers were asked whether they felt the virus would effect their farm's bottom line in 2020. Seventy-four percent of respondents to the March survey said they were
either "fairly worried" (34 percent) or "very worried" (40 percent) about the impact of the virus on their farm's profitability this year.
That sentiment also spilled over into their perceptions of financial performance, with 40 percent of respondents expecting a worse year compared to 2019.
Sustainability is the buzz word for many industries today, especially the beef industry, says
Alisa Harrison, senior vice president of global marketing and research for the NCBA. In our continuing conversation between Harrison and Radio Oklahoma Ag Network Farm Director Ron Hays, we take a closer look at what sustainability actually
means for both consumers and the beef industry.
The beef industry has a great sustainability story to tell, Harrison said. Part of that story is focusing on the positive attributes cattle production makes to the environment. Cattle producers use resources to develop a high protein product while rejuvenating
the land, Harrison said.
Creating transparency and communicating more with the consumer is a major emphasis for the industry. Last fall industry officials pushed the Beef Quality Assurance (BQA) program into the consumer arena.
"They (the consumers) love knowing there is a quality assurance program in place," Harrison said.
During the current COVID-19 crisis, beef producers have learned from consumers more about their needs and how to help them.
We want to help them, Harrison said. We're pushing more information out on all the digital technology platforms and we've gotten very sophisticated in using analytics and metrics to learn the best way to spend producers' dollars, she said.
Growth Energy CEO Emily Skor issued the following statement regarding the continued economic hardship facing America's biofuel producers and farmers as more plants go offline amid the COVID-19 pandemic:
"Biofuel producers and our farm partners are confronting an economic crisis beyond anything rural America has seen before. Fuel demand has cratered, foreign nations have flooded the market with crude oil, and U.S. ethanol producers are bleeding cash after
one of the toughest years in memory. In fact, fuel demand has fallen by more than half. On an annual basis, that equates to as many as 7 or 8 billion gallons loss of ethanol demand, or the market for approximately 2.4 to 2.7
billion bushels of corn.
"Today, POET Biofuels, the world's largest biofuel producer, joins dozens of other American producers that have been forced to take plants offline. The list of plants that have cut or halted production continues to grow, with examples across the United
States, including California, Iowa, Idaho, Illinois, Indiana, Kansas, Michigan, Minnesota, Nebraska, Ohio, Oregon, and South Dakota. At this rate, nearly half of America's biofuel production could soon be offline. These plants support hundreds of thousands
of jobs, including a highly-skilled manufacturing workforce that rural America cannot afford to lose.
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Oklahoma Forestry Services has updated its Fire Situation Report and it looks like warmer weather is in the forecast for the next few days before the cooler weather moves across the state.
A dryline will push into western Oklahoma with warm, dry air in tow elevating fire danger over a broader area of Oklahoma - generally west of a line from Woods County to Jackson County. The highest indices will be present in far northwestern Oklahoma
into the Oklahoma Panhandle where dormant wildland fuels continue to dominate the landscape. Temperatures are forecasted to dip below normal with relaxing fire danger toward the weekend
Drier air will push further into western Oklahoma than in previous days. However, wind speeds will be less of an ongoing impact fires in addition to potential sky cover hampering fire danger. The highest fire danger indices will be centered on the dormant
fuels in the Oklahoma Panhandle and northwestern Oklahoma. *
Oklahoma Panhandle / Northwestern Oklahoma - Temperatures will warm into the low- to mid-80's with afternoon relative humidity values as low as 7% in western Cimarron County to 12% in Ellis County and nearer to 20% in Woods County with the influence of
a dryline pushing into the state. Fine -dead fuel moisture values 3-5% will facilitate readily receptive grass fuels. West winds 5-12 becoming light and variable in some areas will limit spread potential offering good opportunity for successful initial attack
Western Oklahoma - Warm, dry conditions will overspread the area this afternoon supporting receptive dormant fuels and moderate fire danger indices. Morning fog will stall concern until later this afternoon, and green-up progression will offer numerous
barriers to fire spread. Light winds will limit spread potential although moderate rates of fire spread should be anticipated where fuels will support fire activity. Wednesday: Warm and dry conditions will continue across the west where fuels are more receptive
than points east where green-up has progressed. Shifting winds are expected although wind speeds are not forecast to be of much concern.
The coronavirus pandemic has driven home the importance of financial management and emergency savings accounts, said
Cindy Clampet, assistant family resource management specialist with the Oklahoma State University Extension.
It has been a difficult lesson to learn.
"It's recommended consumers should have at least three to six months' worth of living expenses in an emergency fund. However, a recent survey by the Federal Reserve found 46 percent of Americans don't have the funds to pay for an unexpected $400 bill,"
Clampet said. "Since most of those who paid income tax in 2018 or 2019 will be receiving stimulus money in the next few weeks, this is a great time to get a jump on starting or adding to an emergency fund."
Clampet said the purpose of the emergency stimulus payment is to help residents pay bills and stay financially healthy in the economic downturn.
Individual taxpayers who earned up to $75,000 annually should receive $1,200, while married couples with a combined income up to $150,000 will receive $2,400. Individuals with annual incomes of $75,001 to $100,000, and married couples with an income between
$150,001 and $198,000, will receive lower amounts. Single parents who filed as head of household and earned up to $112,500 will get the full $1,200. Also, Clampet said those who qualify for the stimulus payment and have children will get an additional $500
per child under the age of 17.
"These stimulus funds will be very helpful for the many people who currently are out of work," she said. "However, this money is meant to help people pay for their basic needs. Make sure to pay essentials first, including food, shelter and transportation.
Keeping insurance on health, homes, cars and personal belongings should come second at this time."
Do not hesitate to take advantage of extra help that is available, including food assistance, loan forbearance or other help, she said. Try to eliminate as many nonessential costs as possible.
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