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Let's Check the Markets!
FedCattleExchange.com has a total of 2,379 cattle on their showlist for the Wednesday May 17th sale of finished cattle- details will be available after noon today by clicking here.
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:
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, May 16, 2017
State Wheat Specialist Dave Marburger Optimistic About Harvest Yields, But Worried Over Protein
Yesterday, at the Oklahoma State University Wheat Tour in Kay County, I spoke with our State Wheat Specialist Dave Marburger about his thoughts on this year's harvest. He says cutting could begin at any time and would not be surprised if it happened as early as this week.
"There's a lot of pretty good looking wheat out there," Marburger said. "We did have some diseases in some areas, but I'm looking forward to what the combines are going to start telling us."
Earlier this month, the Oklahoma Feed and Grain Association predicted the wheat crop in Oklahoma would produce a total of about 100 million bushels. The USDA followed that estimate with its own predicting that even less acres will be harvested that what OFGA was thinking. The USDA has submitted its guess at this time at 89 million bushels.
"I think that's a pretty good estimate," Marburger said. "But, we'll see where we end up."
And while he feels confident in the numbers, one detail that worries Marburger, is whether or not this crop will have the necessary protein requirements to be competitive in the marketplace. He explains that farmers, with wheat prices where they were at the time, did not go into this growing season with the intention of spending a lot of money. Unfortunately, fields have gone under fertilized.
Marburger says this is much like the case last year with cooler temperatures and available moisture, but very little Nitrogen in the soil, which could potentially impact the protein levels of this year's crop.
Listen to our full conversation during yesterday's wheat tour for more of Marburger's thoughts regarding this year's wheat harvest, by clicking or tapping here.
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.
In the latest crop progress report released Monday May 15, 2017, the United States Department of Agriculture rates the US winter wheat crop condition at 51 percent good to excellent, with 32 fair, 12 poor and 5 very poor. Winter wheat headed was 63 percent compared to 66 percent this time last year and is 6 points above the five-year average. Corn planted at 71 percent, 2 points below this time last year and 1 point below the five-year average. For the complete USDA Crop Progress report, click here
According to the weekly crop progress report from USDA, Oklahoma
winter wheat headed reached 94 percent, down 1 point from the previous year but up 3 points from normal. Corn emerged reached 58 percent, up 1 point from normal. Conditions of pasture and range were rated at 84 percent good to fair. To view the complete Oklahoma Crop Progress and Condition Report, click here
, winter wheat condition rated 10 percent very poor, 17 poor, 29 fair, 38 good, and 6 excellent. Winter wheat headed was 84 percent, near 87 last year, but ahead of the five-year average of 68. Corn planted was 60 percent, behind 78 last year and 72 average. Emerged was 34 percent, behind 49 last year and 42 average. Pasture and range conditions rated 0 percent very poor, 3 poor, 18 fair, 64 good, and 15 excellent. To view the complete Kansas Crop Progress and Condition Report, click here
, winter wheat condition was mostly fair to good statewide. Corn planting continued in the Northern High Plains. Pasture and range condition was rated good to fair statewide, but there were areas in Central and South Texas, where the pasture was drying up and even changing colors due to the lack of moisture. To view the complete Texas Crop Progress and Condition Report, click here
.To sum up the current winter wheat crop condition
here in the southern plains- here's the Good to Excellent Ratings for this week and the change from last week:
Oklahoma 48% -1%
Kansas 44% -2%
Texas 37% -3%
The minor increase in the poor to very poor categories reflect some of the recent weather related damage across the Plains:
Oklahoma 18% +2%
Kansas 27% +0%
Texas 17% +1%
In this week's edition of the Cow/Calf Corner newsletter, Dr. Derrell Peel takes a look at the beef industry's performance so far this year as we head into the summer grilling season, which kicks off with Memorial Day.
"Feeder and fed cattle markets appeared (once again) to perhaps have peaked seasonally this past week. Fed prices pulled back from the previous week's highs near $145/cwt. However, Choice boxed beef continued to climb finishing the week at nearly $248/cwt. The Choice-Select spread has widened to over $22/cwt. following an exaggerated seasonal pattern similar to one year ago," Peel writes.
In addition, Peel states that, "markets have been buoyed by tighter than expected supplies of beef; stronger than expected domestic demand; continued strong beef exports; and speculative support in live and feeder cattle futures contracts. The bullish psychology of the market has been supported by earlier news that China would reopen to U.S. beef and last week to the announcement that an agreement should be in place by July."
He concludes that with ample options for affordable feed, readily available, cattle prices should moderate over the course of the year.
and get Dr. Peel's complete analysis of the beef markets ahead of the May boost from increased grilling purchases.
The Samuel Roberts Noble Foundation has separated its research and education operations from its philanthropic activities to advance its mission and better serve agriculture.
The organization's research, education and consultation activities will continue forward under a new name, the Noble Research Institute, LLC. The philanthropic activities, including grant-making and scholarship programs, of the original organization are being placed in a new, private foundation, which will carry the name traditionally associated with the organization's community giving, The Samuel Roberts Noble Foundation.
Members of the Oklahoma nonprofit's leadership team held two special announcements (one in Ardmore and one in Oklahoma City) and explained that this decision was made so the organization could better serve the agriculture sector; expand collaborations; and better pursue opportunities to bring innovation, technologies and discoveries to agricultural producers and consumers.
and continue reading this story about the Noble Foundation's transition into two new entities on our website.
For nearly a century, Stillwater Milling Company has been providing ranchers with the highest quality feeds made from the highest quality ingredients. Their full line of A&M Feeds can be delivered to your farm, found at their agri-center stores in Stillwater, Davis, Claremore and Perry or at more than 100 dealers in Oklahoma, Arkansas, Kansas and Texas. We appreciate Stillwater Milling'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.
|Negotiations with China Reaching the Final Stages as Deadline to Grant Market Access Draws Near
The beef industry has been thrilled since news arrived that China's government set the deadline of July 16, 2017 to have arrangements in place to begin accepting US beef. But still, NCBA's Kent Bacus
is saying producers need to be patient. with one more round of consultation meetings with Chinese officials left to conduct. While the specifics of this formality have yet to be announced, it is likely the devil will be in the details as the two governments wrap-up negotiations.
"We think that most of these concerns have been addressed," Bacus said. "We can't comment as to what those details are, but one thing we can say is that we have really tried to emphasize with the Chinese, the fact that we have safe production systems here in the United States; what we produce is a very safe and high-quality product."
Bacus says the US negotiators have done everything possible to demonstrate American production practices and adds that this last consultation is very important to finalizing the protocols under which US beef will be allowed to be imported by the deadline, which is July 16th of this year.
Listen in as Bacus walks me through the final steps of the process to reestablishing trade ties with China's beef market, on yesterday's Beef Buzz - click here
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|Petitions Delivered to Oklahoma Department of Ag Requesting Vote on Oklahoma Beef Checkoff
President Charlie Swanson
of the Oklahoma Cattlemen's Association delivered 480 petitions to the Oklahoma Department of Agriculture on Monday to begin the process of planning a state referendum vote for a Oklahoma state beef checkoff. The petitions represent more than 5,150 signatures by beef cattle ranchers and farmers calling for the opportunity to vote on creating a state based beef checkoff.
Oklahoma state law requires that a successful petition be signed by 10% of beef cattle ranchers and farmers. According to the most recent National Agriculture Statistics Service survey done in 2012, that number in Oklahoma is approximately 51,000 beef cattle farmers and ranchers. The next step in the process is for the Secretary of Agriculture to schedule a public hearing to consider the petition.
After that, a vote open to all beef producers in Oklahoma will be held to determine their desire to add a second dollar to the checkoff collected in Oklahoma. Oklahoma producers will control all of the second dollar- which can be spent in state, nationally or internationally for promotion, education and research which are the same mission areas for the current dollar collected nationally.
What is being asked for is similar to what has been in place for almost three years now south of us in Texas. The Texas Beef Checkoff complements the national dollar beef checkoff- and has been used for both in state projects as well as national and international projects of greatest importance to those paying the checkoff in Texas.
It is expected that the vote by Oklahoma beef producers will be at county extension offices across the state and will likely happen this coming fall.
This process has been in the works for quite a while- click here
for an early report we produced and aired on our Beef Buzz report from September 2015 with Michael Kelsey
on the kickoff of the petition drive to gain signatures to call for a vote.
As the wheat industry gears up for harvest, producers are wondering where it's all going to go. A year since harvest, we are still chewing through massive amounts of wheat grain left over from the record production of 2016. The only thing this fact is weighing heavier on than the minds of wheat growers is the market. OSU's Dr. Kim Anderson spoke with me during the Wheat Field Day in Lahoma last week, about his economic outlook for producers.
Right now, market prices are below the cost of production. But Anderson says for producers who have kept their fields clean, sprayed fertilizer and used fungicides, could potentially stand to break even, if they are able to harvest 60 or more bushels per acre.
"For those producers, we're probably near breakeven or maybe slightly above. But, they're not going to make much," Anderson said. "The majority of farmers though, will be below breakeven price."
But while some risks can pay off, Anderson believes it is better to play it safe, especially during these difficult economic times. He offers more of a risk-averse strategy, selling a third of your crop at a time - once a harvest, again between September and October and finally between November and December. If you can afford to do so, he says you could consider merchandizing your grain. But he warns that you first be aware of the risks associated with storing grain and understand the difficulty involved.
"It's a very grim picture," Anderson concluded. "But the producers have to know how much risk they can take."
to get more of Anderson's advice on navigating the financial risks associated with selling wheat this year.
|This n That- We Got Names for USDA Slots and A Scary Night Ahead for Farmers With Predictions of Hail
Our friends at Agri-Pulse believe the White House is close to announcing nominees for political appointments within the Department of Agriculture. Rumored for the number two spot at USDA, Steve Censky, CEO of the American Soybean Association, is expected to be nominated for the USDA deputy secretary position.
Current Iowa Agriculture Secretary Bill Northey is expected to receive the nomination for one of the two newly created posst as undersecretary for farm production and conservation.
Indiana Agriculture Department Director Ted McKinney is expected to be nominated as undersecretary for trade and foreign agricultural affairs(the other newly created post). Finally, Sam Clovis, who has served on the USDA transition team is being considered as the next undersecretary for research, education, and economics. This is a post that normally would be filled by a career scientist- so this is a nomination that if it happens- could be controversial.
The Hail You Say- Unfortunately- that seems to in play for later today and into tomorrow morning- here is the hail potential as mapped by our Griffin colleague Jed Castles of News9:
And Jed and David Payne's weather team will be in overdrive watching all of the storms as they unfold later today and overnight.
They may end up sleeping on cots- the next couple of days look like all storms all the time- here is Jed's Nine Day:
On the eastern side of our state- Alan Crone from the News on 6 is watching weather patterns- he is not too concerned for Green Country for tonight and tomorrow- but then there is that next storm system- "A stronger storm system will be approaching the area Thursday that may last through the first half of the weekend with increasing severe weather threats and heavy rainfall potential."
Click or tap here to read Alan's blog of this Tuesday morning to get his take on the storms and their potential for mischief.
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