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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
ended up with just over 4,200 head of cattle traded this week- Compared to last week: Feeder steers over 800 lbs sold 1.00-3.00 lower, under 800 lbs 1.00 to 3.00 higher with grazing type steers being in very good weight-up conditions. Click or tap here
for the complete report from USDA Market News.
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, April 16, 2020
Cow/calf producers will be hit hardest by the estimated $13.6 billion in damages from the COVID-19 crisis. That's the summary of an economic analysis by a blue-ribbon committee of economists chaired by Derrell Peel, Extension Livestock Marketing Specialist at Oklahoma State University. The panel was established by the National Cattlemen's Beef Assoc. to assist USDA in determining how best to allocate CARES Act relief funds to cattle producers.
I spoke to Peel following release of the panel findings.
The total projected losses for 2020 has cow/calf producers leading the pact at $8.1 billion, or about 60 percent of the total loss.
If you look at all individual sectors, the cow/calf producer will see losses in two segments, Peel said.
One area is in the current year damages which amount to $3.7 billion, and this works out to about $111 per head for mature cows and bulls, Peel said.
Add in the loss going forward, producers will see lower values of those cattle since they are long term assets, Peel said. This amounts to another $4.4 billion loss.
For stocker cattle, the loss is estimated at $2.5 billion or about $160 per head.
Feedlots will experience a $3 billion loss based on 14.6 million head for an average of $206 per head.
Making it even more difficult for cow/calf producers is the fact they have fewer risk management options.
There is no futures market for them, Peel pointed out.
Dating back to 1891, Stillwater Milling Company has been supplying ranchers with the highest quality feeds made from the highest quality ingredients. Their full line of A & M Feeds can be delivered direct to your farm, found at their Agri-Center stores in Stillwater, Davis, Claremore and Perry or at more than 125 dealers in Oklahoma, Arkansas, Kansas and Texas. We appreciate Stillwater Milling Company's long time support of the Radio Oklahoma Ag Network and we encourage you to click here to learn more about their products and services.
In a letter to Agriculture Secretary Sonny Perdue Tuesday morning, House Agriculture Committee Chairman Collin C. Peterson of Minnesota urged the Administration to maximize the purchase of agricultural commodities for donation and distribution to aid hungry Americans and struggling farmers during the ongoing coronavirus pandemic.
"The pictures and video of milk being dumped and fresh vegetables being plowed into the ground is unsettling to most Americans, but it is heart breaking for those farm families that produced that commodity," said Peterson, adding that purchases by USDA of those products can "help ensure that the production that no longer has a foodservice market can be made available to help our nation's foodbanks."
In the letter, Peterson urged the Administration to use the $9.5 billion in funding through the CARES Act, as well as the authorities of the Commodity Credit Corporation (CCC), and Section 32.
"The agricultural economy was already in a fragile state from several years of adverse weather conditions and our challenging trade situation. Despite being an essential service, our ag producers and their supply chain partners are facing the total loss of some market segments and the inability to quickly change their marketing and processing capabilities to meet the new realities," added Peterson.
The economic impact of COVID-19 on the cattle industry is so severe, Don Close, senior analyst-animal protein for Rabo AgriFinance, is comparing it to the Nixon era retail price freeze of 1973. Close is a member of the panel of economists put together by the NCBA to study the economic impact of COVID-19 on the cattle industry. Their report, released this week, estimates a loss of $13.6 billion.I talked with Close after the panel released its estimate.
Close said there is nothing in recent history to compare to this drastic impact. Not the BSE scare, 911 or even the 2009 recession.
"I think there are components of this thing that goes back to the Nixon era price freeze," Close said. At that time, President Richard Nixon froze retail prices to control inflation. Cattle producers still remember the market disaster that resulted from that action.
Close said the market had issues before Covid-19 and now adding on plant closings, panic buying and hoarding, has created a disaster in the making.
The economist points out that beef demand has remained surprisingly strong. His research indicates fast food establishments are doing about 80 percent of its normal business, offsetting the estimated two-thirds loss of business by the fine dining restaurants.
The COVID-19 pandemic has resulted in a shortage of blood supplies across the nation and in Oklahoma. To combat this shortage, State Sen. Roland Pederson, R-Burlington, has partnered with the Oklahoma Blood Institute (OBI) to host five mobile blood drives across northwestern Oklahoma.
The first drive will be hosted on Monday, April 20 from 9 a.m. to 2 p.m. at the Blackwell Fairgrounds and Event Center. The second will be held on Tuesday, April 28 from 2 to 6 p.m. at Burlington High School.
The remaining three drives will be hosted in May with details to be released as they become available.
"The need for blood doesn't stop, even during the COVID-19 pandemic, and we can't forget about the many patients hospitalized that need blood to live," Pederson said. "Each blood donation can save three lives, and it's an easy way each of us can help our fellow Oklahomans during this time."
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.
American Farm Bureau Federation President Zippy Duvall will join the Great American Economic Revival Industry Group focused on agriculture. President Donald Trump created 17 groups to help shape plans to reopen the economy following the COVID-19 pandemic.
The following statement may be attributed to American Farm Bureau Federation President Zippy Duvall:
"I'm honored to have been chosen by President Trump to join the Great Economic Revival Industry group focusing on agriculture. America's farmers and ranchers are deeply committed to feeding the nation during this crisis, but there are mounting challenges threatening their ability to keep putting food on Americans' tables.
"The lost food service and restaurant market due to the COVID-19 shutdown hit America's farm families hard. The prices paid to farmers and ranchers have spiraled down, and in some cases, demand has disappeared, despite empty grocery shelves. No one is more eager than farmers to get the economy humming again. It's imperative that we do this in a manner that keeps our families, neighbors, coworkers and communities safe.
"We look forward to working with fellow agricultural leaders and the Trump administration to ensure healthy, affordable food continues to be available to families across the country and farmers are able to hold on as we return to some sense of normalcy in America."
The National Sorghum Foundation opened three scholarship applications today for college students studying agriculture in the 2020-2021 academic year with an application deadline of June 1, 2020.
"Since its inception in 2000, the National Sorghum Foundation has been proud to award outstanding students with the financial assistance necessary to succeed," National Sorghum Foundation Chairman Larry Lambright said. "We look forward to supporting students who excel in academics, leadership and service to their universities and communities."
Bruce Maunder Memorial Scholarship: Bruce Maunder was a lifetime advocate for sorghum and a man admired throughout the industry for his dedication to sorghum. Bruce also ran the National Sorghum Foundation as chair for almost 20 years. Darrell Rosenow Memorial Scholarship: Darrell Rosenow spent over 40 years as a sorghum plant breeder and developed a reputation as a pioneer in hybrid sorghum breeding. This scholarship is presented in Rosenow's honor in support of the next generation of agricultural pioneers.
Bill Kubecka Memorial Scholarship: Bill Kubecka served as a sorghum sector representative on the U.S. Grains Council board, the Nation Sorghum Producers board and Sorghum Checkoff board. Throughout his life, Kubecka remained active and engaged in the advocacy process for sorghum and U.S. sorghum producers.
You have still got time to apply for Class XX of the Oklahoma Ag Leadership Program. Oklahoma residents who are involved in the agricultural industry and looking for a way to grow and enhance their agricultural knowledge and leadership skills can do that by applying to become a member of OALP's Class XX.
For nearly 40 years, OALP has been one of the state's top leadership programs for emerging agricultural leaders, with 502 people graduating from the program. Edmond Bonjour, OALP director, said he is looking forward to starting a new class.
More Details are available here.
I traveled with Class XIX to Chile this past February- one of my favorite stops was when we stopped at the Ponderosa and met the Cartwrights- check it our by clicking here. AND- talk a look at the pictures from Chile- their international Capstone Experience- by clicking here. Yours truly was a member of Class One of the Program- and I continue to be involved as the Chairman of the Advisory Board to OSU for the OALP.
OSU Extension Wheat Specialist Amanda de Oliveira Silva has provided some food for thought when it comes to the question- What are the temperatures that can damage the wheat plants?
She responds with the classic answer- "It depends." Of Course, she is right as there are a huge number of variables that will have to be considered when you attempt to answer that question and that question will be applied to wheat fields across a lot of the Oklahoma and Kansas wheat belt in the next week or so- with lots of hours below freezing happened earlier this week.
You can read Amanda's overview of this subject- complete with lots of pictures and charts by clicking or tapping here.
By this time next week- we should start getting some inkling of what the answer to her question is regarding the southern High Plains Wheat Crop.
It appears that the Smithfield Pork Plant in South Dakota is number one with a bullet when it comes to COVID-19 hotspots in America.
According to the website KELOLAND, "On Wednesday, South Dakota Department of Health officials confirmed 80 new cases of Smithfield employees in addition to a total of 126 cases connected to those Smithfield Foods employees. That brings the total to 644 cases connected to the plant.
The plant surpassed the U.S.S. Theodore Roosevelt in the number of confirmed cases- and are also ahead of the Cook County Jail in Chicago.
The plant normally provides 3.8 percent of the US Pork Supply- but will be offline for at least 2 weeks- and perhaps longer depending on when they can get enough people to restart the plant for at least one shift a day.
And as you would expect- there is fallout down the pipeline from the plant- according to Meatingplace- Also on Wednesday, Smithfield announced that it will close its Cudahy, Wis., and Martin City, Mo., facilities beginning later this week. The Cudahy dry sausage and bacon plant will shutter for two weeks. The Martin City plant, which employs over 400 people and produces spiral and smoked hams, receives raw material from the company's Sioux Falls facility and cannot run without those materials, the company said.
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