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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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Ron Hays, Senior Farm Director and Editor
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Dave Lanning, Markets and Production
Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Friday, January 12, 2018
State Climatologist Gary McManus
reports the drought situation has worsened across much of western and northern Oklahoma. The newest Drought Monitor map shows Extreme (D3) drought now in the far northwest, just a few weeks after it was removed in the southeast. The Severe (D2) drought/Moderate (D1) drought surrounding that area has also increased.
Currently, 7% of the state in Extreme drought, 42% in at least Severe drought, and 83% in some sort of drought. The remaining 17% is "Abnormally Dry" and in danger of headed towards drought if significant moisture is not soon realized.To
read McManus' Mesonet Ticker report for this week, or to view a larger image of the latest Drought Monitor, click here.
By the way- our neighbors to the north in Kansas are starting to see a major jump up in the drought ratings- they went in this latest report from 32% in Drought a week ago to 52% this week- you can check their status by
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And if you check us out on the web at pkequipment.com, you'll have it all at your fingertips. New & used equipment (you can even request a quote or get a value for your trade!), current P&K promotions, service scheduling, online parts shopping, finance tools & so much more! Stop by and meet the team at P&K Equipment today- in stores or online. Because around here, John Deere starts with P&K.
|With Tax Reform, Trade Negotiations Underway NCBA President-Elect Talks Where to Go from Here
I caught up with president-elect of the National Cattlemen's Beef Association Kevin Kester
, of California, during the American Farm Bureau Convention earlier this week. He shared with me a few key issues that has been on the front of his mind lately, as he gears up for his own association's annual meeting happening later this month in Phoenix.
"Two big things - we've got the tax reform package passed and signed into law. We've got a bunch of good stuff in that package that help the cattle and beef industry in particular," he said. "And, then we have a whole bunch of trade stuff going on that we have to keep our eyes on."
In regards to tax reform, Kester says one of the key points is that the exemption of the unpopular estate tax was doubled in this package, but only for eight years before the provision sunsets. NCBA had hoped to make that a permanent fixture in this legislation, but Kester says they will take what they can get now and then continue to work on making it permanent or kill the tax entirely before it is reinstated to its original parameters. On trade, NAFTA modernization is of course top of mind. Talks to renegotiate KORUS and a bilateral agreement with Japan are also anticipated in the near future, Kester says. All of which he says are vitally important to sustaining the health of our export market and indirectly our domestic markets as well, as the industry faces increased competition from other proteins and greater beef production in 2018, too. Overall, though, Kester says despite all the challenges we have seen, producers have remained high-spirited.
"The mood of the ship is surprisingly very optimistic," Kester said. "All of last year, prices stayed strong; demand stayed stronger domestically. I expect '18 will even make more improvements. So, we'll have to watch what the prices are, but for right now everybody is in a pretty happy mood."
Listen to Kester and I discuss his priority issues for the beef industry ahead of the NCBA National Convention, on yesterday's Beef Buzz - click here
AFR's Sam Knipp
shared an interview with us yesterday,
featuring Dustin Tackett of Ft. Cobb, Okla., whom is in Washington, D.C. this week representing American Farmers & Ranchers on the National Farmers Union policy committee meeting. Knipp spoke with Tackett over the phone about his experience so far.
"It's been beneficial to me, to be able to represent Oklahoma and its interests," he said, "and I think overall it will be a positive experience when I get finished."
According to Tackett, the committee took time to review a variety of issues that have cropped up in recent years here in Oklahoma. He reports that the committee is also taking the initiative to revise its current policy language to align with that of the cotton industry's Cotton Council, regarding provisions they would like negotiated into the next Farm Bill, among other things.
This committee's work to review policies submitted by state affiliate organizations comes prior to the NFU convention scheduled for March in Kansas City this year.
to read more and listen to Tackett's update from Washington.
|Kim Anderson Offers His Preview of the Latest WASDE and Seedings Reports Coming From USDA
This week on SUNUP - Oklahoma State University Extension Grain Market Economist Dr. Kim Anderson joins host Dave Deken again, with his thoughts in advance of the first major reports from the United States Department of Agriculture for 2018. According to Dr. Anderson, he expects little change from these reports for most major crops when they are released Friday morning at 11 AM central time.
Anderson says world wheat stocks were expected to decline fractionally, but with the already massive stocks, he insists it will take major changes before producers see any notable improvement in prices.The Seedings report will also be released on Friday morning. Anderson reports that HRW and winter wheat plantings are expected to be down approximately eight percent, or 30+ million acres - the lowest since 1906. As the number of acres have declined over the last several years, Anderson says more pressure has been placed on yields, which have offset things enough to keep production at about the same level.Currently, though, producers with wheat in the ground is still being considered to be used either for graze out or grain. But, Anderson says the determining factor will be whether or not we get any moisture and if so, when?
You can watch their visit tomorrow or Sunday on SUNUP - or you can hear Kim's comments right now and see what else is on the lineup for this week's episode, by clicking here
Midwest Farm Shows is proud to produce the two best Farm Shows in the State of Oklahoma annually- the Tulsa Farm Show each December and the Oklahoma City Farm Show each April.
Now is the time to put on your 2018 calendar the date for the 2018 Oklahoma City Farm Show, coming April 19, 20 and 21, 2018. Contact Ron Bormaster at (507) 437-7969 for more details about how your business or organization can be a part of the 2018 Oklahoma City Farm Show!
Click here for more details about the 2018 Oklahoma City Farm Show- presented by Midwest Farm Shows.
In a statement released this week, The National Cotton Council stated it, "...lauds the work of the Interagency Task Force on Agriculture and Rural Prosperity..." presented earlier this week to President Trump by USDA Secretary Sonny Perdue during the American Farm Bureau National Convention.
The task force offered the President more than 100 recommendations to help improve life in rural America, centering around five areas: E-Connectivity, Quality of Life, Rural Workforce, Technology and Economic Development.
Among specific recommendations were: ensuring access to a lawful agricultural workforce; increasing acceptance of biotech products around the world; developing a streamlined, science-based regulatory policy for biotechnology; and increasing access to global markets.
NCC Chairman Ronnie Lee, of Georgia, said Trump and his Cabinet members, "have charted a path forward that will ensure a bright future for rural America."
Click here to read the complete statement released this week by the NCC, regarding these task force recommendations.
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Agricultural producers indicated they have reduced optimism heading into 2018, according to the December reading of the Purdue University/CME Group Ag Economy Barometer, dampened by a weak outlook on the future.
The barometer fell to 126 in December, a two-point drop from November's 128 and the second straight month of declines in producers' sentiment toward the health of the agricultural economy
Driving this dip in optimism, is the barometer's Index of Future Expectations, which fell 7 points in December to 120. The index has fallen 15 points just since October.
A similar trend occurred with regard to the overall agricultural economy. Sixty-three percent of respondents said they expect "bad times" over the next 12 months.
One bright spot in the December report is the Index of Current Conditions, which jumped 10 points to 139, supported by subtle changes in producers' thoughts about large farm investments.
|From the Calendar- Both Senator Inhofe and Congressman Lucas in Enid Talking Agriculture This Morning
The 2018 AgriFest Farm Show is kicking off this morning in Enid- and a couple of farm groups have meetings either in conjunction with the show or adjacent to the show.
This morning at 9- AFR will be hosting a Farm and Ranch Forum- featuring comments from Burns Hargis of Oklahoma State and Senator Jim Inhofe.
This meeting is in the Board Meeting Room of the Chisholm Trail Expo Center- where AgriFest is Happening.
More details are here.
Later in the morning- starting at 11- in the Hoover Building at the Garfield County Fairgrounds- you have the Oklahoma Grain Sorghum Producers meeting with their leadoff speaker Oklahoma's Third District Congressman(and Senior member of the House Ag Committee) Frank Lucas
. Click here
for more on this meeting.
There's plenty going on the next few weeks as well- click here
for our calendar for the balance of January and into February as well.
|Our thanks to Midwest Farms Shows, P & K Equipment, American Farmers & Ranchers, Oklahoma Beef Council, Livestock Exchange at the Oklahoma National Stockyards, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma AgCredit, the Oklahoma Cattlemens Association, and KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
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