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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.
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
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, October 13, 2017
USDA October Crop Production Report Shows Bigger Pecan, Canola and Cotton Crops in Oklahoma in 2017
Oklahoma was revealed to rank among top states in the production of several crops, according to the October 2017 Crop Production report published yesterday by the USDA. Several records are expected to be reached this year as well.
Based on all available data, as of October 1, the Department made a few adjustments to previous estimates for several states. As of now, though, corn production is forecast at 14.3 billion bushels, down 6 percent from last year but up 1 percent from the September forecast. If realized, this will be the second highest yield and production on record for the United States.
Soybean production is forecast at a record 4.43 billion bushels, down slightly from September but up 3 percent from last year.
All cotton production is forecast at 21.1 million 480-pound bales, down 3 percent from September but up 23 percent from last year. If realized, the cotton yield forecast for the nation will be the second highest yield on record.
For Oklahoma, the state's 2017 cotton production was left unchanged in October from its September estimate of 980,000 bales - which is the most cotton produced since the 1930s in just one year. Harvested acres are still expected to be 91 percent above 2016 at 550,000 acres - making Oklahoma the fifth largest cotton producing state in the US. Texas remains head and shoulders ahead of every other state with an expected 9 billion bale crop. However, some wonder if this figure accurately accounts for Hurricane Harvey related damage.
With a long-awaited glimpse into canola production, Oklahoma is also on track to be the second largest canola producing state, and the No. 1 Winter Canola producing state. Total canola production in the state is estimated at a 67 percent increase from last year with 191.8 million lbs.
Oklahoma will also be the No. 1 state in native pecan production with 15 million lbs., contributing to an overall production of 20 million lbs. for 2017 - 66 percent larger than last year's production.
Click or tap here for the complete report from USDA, as well as the monthly WASDE report from the Economic Research Service.
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.
Kim Anderson Summarizes Latest WASDE Report and How It May Impact Prices in the Grain Market
This week on SUNUP - Oklahoma Grain Market Economist Dr. Kim Anderson
joins host Lyndall Stout
again, this time talking about the latest World Agriculture Supply and Demand Estimates report, released on Thursday by the US Department of Agriculture.
Breaking down the report - Anderson says US wheat ending stocks were expected by the market to come in at around 946 million bushels. They arrived officially higher than anticipated at 960 million. World ending stocks were expected at 9 billion 660 million bushels. The report instead pegged it at a record 9 billion 850 million.
In corn, US ending stocks were expected at 2 billion 290 million bushels, and were instead measured slightly higher at 2.34 billion. World ending stocks were near their expected level of 7.95 billion, coming in just below at 7.91 billion bushels.
The only good news in the report came from soybeans, Anderson said. The market overshot its expectation for US ending stocks at 477 million bushels, with the report putting them at 430 million. World ending stocks came in essentially as expected at 3.54 million.
In reaction, Anderson predicts soybeans will likely climb incrementally higher, while little hope is seen for the improvement for either wheat or corn prices.
You can watch their visit tomorrow or Sunday on SUNUP - or you can hear Kim's comments right now and find out what else is on the line up for this week's show, by clicking here
|Beef Industry's Future Hinges on International Trade's Continued Success, Says NCBA President Craig Uden
National Cattlemen's Beef Association President and Nebraska cattle producer Craig Uden
, took a moment earlier this week at the Texas Cattle Feeders Association to speak with me about a variety of issues that NCBA is currently tackling in Washington, D.C. As US beef markets have performed with exceptional strength this year, Uden says trade policy has become a top concern for the industry, which would like to see the current momentum in markets continue. This is especially true, with recent speculation that the White House may completely pull the US out of existing trade deals such as NAFTA and KORUS, on which the entire ag industry is becoming increasingly more dependent.
"When President Trump
came out and talked about just dropping the free-trade agreement with Korea, we pushed back pretty hard," Uden said. "We can't afford to lose and step back on Korea. That's become our second largest trading partner with about $1 billion worth of trade."
And while, NCBA continues to fight to protect access to these developed markets, Uden says the meat industry is also working to nurture the growth of its newest customer - China. Although, it has been less than a year since the Chinese market officially opened its doors to US beef imports, after lifting its 13-year ban, progress has been admittedly slow. But, Uden contends that US imports are beginning to get traction there. He insists this will be very important in the years to come - arguing that any advancement in growing the industry, will be reliant on the continued success of international trade
"We don't want to go backwards. We want to maintain and continue to see growth in exports," he said, emphasizing the importance of preserving existing trade treaties and seeking new bilateral agreements as well. "We've greatly benefitted from trade this year and part of that is - we've had the available supply of quality that some of the other competing countries have not. But, as they come back on board, if we get our hands tied, then that's a bigger challenge for us to stay in the ball game."
Listen to NCBA President Craig Uden and I discuss the status of ongoing US trade negotiations and why international trade is so significant to the US beef industry's success, on yesterday's Beef Buzz - click here
Higher yields won't be the only thing that will impact wheat producers' bottom lines this year. It will take intentional steps made at producing a quality crop with high levels of protein, too. Striking the right balance of these two qualities will be key in successfully marketing your wheat at the best price, according to both Brian Arnall, Oklahoma State University Cooperative Extension precision nutrient management specialist, and David Marburger, OSU Cooperative Extension small grains specialist.
"Low protein wheat can create pricing and marketing challenges for everyone in the supply chain," Arnall said. "Perhaps even more concerning is that low protein is an indicator that nitrogen was limiting during grain fill and therefore, a field's maximum yield potential wasn't achieved."
Luckily, such problems can be fixed. Much of the fix, has to do with variety selection, growing environment and fertility.
Marburger explains that while some varieties, on average, offer higher protein, the differences among varieties can be overshadowed by the environmental conditions at different locations. He says, that ideally, during grain fill, optimal conditions would include cooler temperatures and ample available moisture, which could positively affect yield but negatively impact protein levels in the crop.
"We've seen that over the past couple years. We fertilized with our normal nitrogen rate to achieve our yield goal, and this usually provides an adequate protein content as well. But we've had better yields partly due to the better growing conditions, and therefore lower protein content," Marburger said.
That leaves fertility, or more specifically nitrogen, as the X factor.
Bottom line - Arnall and Marburger say managing nitrogen and maximizing yield comes down to ensuring nitrogen is available to the plant at important growth periods.
Apply nitrogen when the plant needs it, which is right after tillering for grain-only. In dual purpose, there is generally a high need in the fall and again at tillering.
For more of Arnall and Marburger's advice on when and how to most efficaciously apply nitrogen to maximize your wheat crop's profitability this year, click here
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.
BASF has signed an agreement to acquire significant parts of Bayer's seed and non-selective herbicide businesses. Bayer intends to divest these assets in the context of its planned acquisition of Monsanto. The all-cash purchase price is €5.9 billion, subject to certain adjustments at closing.
The assets to be acquired include Bayer's global glufosinate-ammonium non-selective herbicide business, commercialized under the Liberty®, Basta® and Finale® brands, as well as its seed businesses for key row crops in select markets: canola hybrids in North America under the InVigor® brand using the LibertyLink® trait technology, oilseed rape mainly in European markets, cotton in the Americas and Europe as well as soybean in the Americas.
The transaction also includes Bayer's trait research and breeding capabilities for these crops and the LibertyLink® trait and trademark.
The announcement was made Friday morning in Germany at the BASF Headquarters- meaning the news coming to us around 4 this morning. Click or tap here to read the complete news release
and to go to the BASF webpage that has been developed to more fully explain their purchase of these assets ahead of the Bayer-Monsanto deal.
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Award winning broadcast journalist Jerry Bohnen has spent years learning and understanding how to cover the energy business here in the southern plains- Click here to subscribe to his daily update of top Energy News.
Drawing from member approved policy, Oklahoma Farm Bureau President Tom Buchanan defended private property rights, a cornerstone issue for OKFB members, at an Oklahoma House of Representatives interim study this week, to examine the impact of "tall structures" within military training airspace throughout the state.
The study was prompted after proposed legislation that would regulate the building of structures on private lands near public-use airports, stalled in committee.
Buchanan testified before the House members that restricting a landowner's ability to develop or use their land is a violation of private property rights. Private property rights provide for many different uses including agricultural, industrial and residential, he said, describing each use as a "stick in a bundle."
"Anytime a rule, regulation or law is passed that restricts, or worse prohibits, the ability of a landowner to use even one of those sticks in that bundle, that is a taking of a private property right," Buchanan said. "If you take away one of my sticks, you've taken away my ability to develop my land as I see fit."
BY THE WAY- Tom will be my guest tomorrow morning on my In the Field segment as seen on KWTV, News9 at 6:40 AM. We will be talking about the resolutions process of the general farm organization as they prepare for a State Resolutions Committee this coming week.
|Checking the Calendar- Blackjack Angus, School Land Auctions, Early Registration for Policy Conference and Bullard
Blackjack Farms and Friends will be holding their annual fall production sale tomorrow, October 14th.
Those participating in the 2017 sale include Blackkjack Farms, McFerran Farms, Pfeiffer Angus Farms and Simpson Angus Ranch.
The sale is planned for 12:30 P.M. at Blackjack Farms in Seminole.
Included in the offering- 70 Angus & Simangus Lots
Spring Bull & Heifer Pair Splits
Fall-Calving Cows (most with calves at side)
Spring Bred Heifers
Fall Yearling Heifers
Click or tap here
to check out the catalog- or you can call Sale Manager Matt Sims at 405-641-6081.
You can also click here
for our calendar entry which includes contact info for all four Angus operations that are involved in this sale.
Oklahoma School Land Lease Auctions start this coming Monday afternoon at 2:00 PM in Beaver, Oklahoma.
On Tuesday- day two of the auctions will be happening in Boise City and Guymon.
We talked a few days back with the Secretary of the School Land Commission- Harry Birdwell
- and you can hear that conversation and read more about the school land lease auction concept by clicking or tapping here.
We are a week away from the upcoming Rural Economic Outlook Conference, to be held next Friday, Oct. 20, 2017 at the OSU Alumni Center in Stillwater. Keynote speakers will be addressing particularly timely topics: trade, Farm Bill and the macroeconomic environment. OSU will also have faculty contributing some rapid-fire outlook information and research updates.
Early registration deadline is tomorrow- click here
for more details about the 2017 conference, which looks like it will be a dandy!
One of the out of state groups that is promoting a no vote for the Oklahoma Beef Checkoff that is currently in the early voting time frame is having a dinner tomorrow evening in Stockyards City.
R-Calf USA Bill Bullard will be making an Oklahoma City appearance at this event- and it is possible he will offer more details about the group's intentions regarding legal action against the state of Oklahoma and the Oklahoma Cattlemen's Association at that time.
Three different out of state groups have gone public on a no vote. In contrast, both general farm organizations in Oklahoma and over a dozen cattle industry groups have gone on record in support of the refundable state beef checkoff that would result if the majority of those Oklahoma cattle producers voting are in favor of the plan.
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
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