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Let's Check the Markets!
OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
FedCattleExchange.com has a total of 892 cattle on their showlist for the Wednesday, February 7th sale of finished cattle- details will be available after noon today by clicking here.
Steer and heifer calves traded mostly steady Tuesday at OKC West - click or tap here for a look at the February 6th sale results.
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
Wednesday, February 7, 2018
China Strikes Back at Trump Administration- Selects US Sorghum as their Victim
US Grain Sorghum producers are officially pawns in a developing trade war between the US and China. Over this past weekend- the Chinese Government pushed back on a move months earlier by the Trump Administration to target aluminum that our government claims is being dumped at artificially low prices into the US market.
According to the China Law Blog
- "For the first time in over a decade, the United States Commerce Department late last year self-initiated an antidumping and countervailing duty case. This case was against aluminum sheet imports from China. Almost all other antidumping and countervailing duty cases are initiated by domestic producers filing a petition asking the U.S. government to investigate whether the subject imports are dumped or subsidized, and injure the domestic industry. It was highly unusual for DOC to self-initiate AD/CVD cases and act as both prosecutor and judge in these cases.
"On February 4, 2018
, China's Ministry of Commerce ("MOFCOM") self-initiated its own antidumping and countervailing duty case against the United States for imports of US sorghum grain. Total China imports of US Sorghum Grain in 2016 were 5,869,000 tons worth more than $1.26 billion USD. China is a significant export market for U.S. sorghum, accounting for about 70 percent of total US sorghum exports in 2016. Sorghum is used primarily as a livestock feed, but can also is used to make alcoholic beverages like Chinese Mao-tai and other baijiu
. This self-initiated action by MOFCOM is widely viewed as China's counter to U.S. trade actions over the past year."
The writer of this blog adds "Things are starting to get serious."
Cash prices for Grain Sorghum fell at the beginning of this week with this news- and Tim Lust
, CEO of the National Sorghum Producers, released a statement
saying " U.S. sorghum farmers do not dump our products into China or elsewhere, and our products are not unfairly subsidized. A fair proceeding will demonstrate these facts."
It's great to have the Livestock Exchange at the Oklahoma National Stockyards as a sponsor for our daily email. The eight Commission firms at the Stockyards make up the exchange- and they are committed to work hard to get you top dollar when you consign your cattle with them. They will present your cattle to the buyers gathered each Monday or Tuesday at one of the largest stocker and feeder cattle auctions in the world.
Click here for a complete list of the Commission firms that make up the Livestock Exchange at the Oklahoma National Stockyards- still the best place to sell your cattle- and at the heart of Stockyards City, where you can go around the corner enjoy a great steak and shop for the very best in western wear.
U.S. Rep. Frank Lucas
, vice chairman of the House Science, Space, and Technology Committee, delivered his opening statement at yesterday's full committee hearing
entitled, In Defense of Scientific Integrity: Examining the IARC Monograph Programme and Glyphosate Review
In his remarks, Lucas called into question IARC's scientific integrity, referencing recent claims that research published by the organization was false in its allegations that the agricultural tool, glyphosate, is carcinogenic.
"In 2015, the IARC Monograph Programme categorized glyphosate as 'probably carcinogenic to humans.' As Chairman Smith explained, IARC's glyphosate monograph contained substantial portions of alterations and deletions, it appears, to aid the monograph in drawing a particular conclusion," Lucas cited, defending glyphosate. '
"While the appearance of agenda-driven manipulation is troubling on its own, it is even more so when considering that IARC's final conclusion is not only on the fringe of the scientific world, but is completely and totally by itself."
Neither the Environmental Protection Agency, the European Food Safety Agency nor the IARC's parent body, the World Health Organization, have ever found any risk posed to humans when glyphosate is used as directed.
Lucas says glyphosate and other IARC-labeled "carcinogenic" herbicides have played an enormous role in the modern agricultural revolution, has helped to feed the world and enabled struggling nations to grow and gain a footing on the world stage. He made clear in his statement that IARC should be held responsible for their false claims against these products.
"If left unchallenged, this would excuse IARC's bad behavior and give a de facto blessing to their refusal to bring their scientific methods into the modern age," he stated. "This kind of shoddy work is unacceptable from any scientific body, let alone one funded by the American taxpayer."
You can read Lucas' full statement, or watch him deliver his comments at the start of yesterday's hearing, by clicking here.
The latest Cattle Inventory report issued by USDA-NASS in late January showed that the all cattle and calves inventory was up 0.7 percent at 94.4 million head with total beef cow inventory up 1.6 percent to 31.7 million head.
According to OSU Livestock Market Economist Dr. Derrell Peel's article in this week's Cow/Calf Corner newsletter, this report was well anticipated and presented no major surprises. Peel states that USDA made relatively few and small changes to 2017 numbers so the year over year changes in the report were easy to interpret. Peel was able to glean two notable points from this report.
"First, the decrease in beef replacement heifers is generally taken as a sign that herd expansion is over. That may well be but a look at the absolute numbers suggests that a limited amount of additional beef herd expansion is possible in 2018," he stated. "Any beef herd expansion in 2018 would likely be limited to less than one percent but, for example, a rate of 0.5 percent for the year is quite consistent with all the numbers in my analysis. I expect that the market conditions that play out in 2018 will determine whether any additional herd expansion is forthcoming.
"Secondly, using the inventory categories for steers and other heifers over 500 pounds along with calves under 500 pounds and subtracting off the cattle already in feedlots, leaves a January 1 estimated feeder supply outside of feedlots of 26.1 million head, down 2.3 percent year over year. The deceased feeder supply also reflects drought conditions at the end of 2017 that forced many lightweight cattle into feedlots early at the end of 2017. The point is that this tighter feeder supply will help support feeder cattle markets in the coming weeks and sets us up to deal with the still growing cattle numbers in 2018 in the best possible shape."
Click here to read Peel's complete analysis of the latest USDA Cattle Inventory report.
During this past year, a total of 98.5 billion pounds of protein was produced by the US poultry, pork and beef industries. This year, that number is projected to increase up to 102.2 billion pounds and will continue to grow the following year to projected 104 billion pounds. CattleFax CEO Randy Blach, who spoke with me recently at the National Cattlemen's Beef Association and Cattle Industry Convention in Phoenix, said that one thing is for sure - there is plenty of meat to go around and meet that growing international demand. The question beef producers want answered, is how they stay competitive and differentiate themselves in the marketplace for consumers.
"From a price standpoint, we're not going to compete with poultry on a daily basis," Blach said. "It's just so much cheaper to produce that protein than what we can do in the beef industry. But, the other attributes - the higher quality protein - that's still what people want. Beef is what's for dinner."
Blach says beef has surprised those in the industry with the price spreads it has managed to maintain between other proteins. He says this is demonstrative of just how strong beef demand is. Looking at where the beef cow herd is now, referencing USDA's latest Cattle Inventory report, the industry is approaching that 32 million head mark. Blach contends that once that benchmark is obtained, the industry will have reached a sustainable yet still manageable capacity. As production increases, though, what Blach says is important for producers of each industry to realize is that it is the "pie" that is growing.
"We may not have a larger market share in the beef industry, but if the pie is growing, then we all have the opportunity to grow our enterprises. That's where we are today and I think we are right on target."
to hear mine and Randy's discussion on yesterday's Beef Buzz.
Our coverage of the 2018 Cattle Industry Convention and NCBA Trade Show was powered this year by Farm Data Services of Stillwater
- learn more about how they can help your farm or ranch operation's bottom line in a variety of ways, by clicking here
We are pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update. On both the state and national levels, full-time staff members serve as a "watchdog" for family agriculture producers, mutual insurance company members and life company members.
Click here to go to their AFR website to learn more about their efforts to serve rural America!
Jim Johnson, soil and crop consultant at the Noble Research Institute in Ardmore, Okla. spoke to farmers recently during the 22nd Annual No-Till on the Plains Winter Conference about how to manage a mixed crop, pasture and livestock system. While there, our Associate Farm Director Carson Horn visited with Johnson to get some of his advice for farmers looking at implementing a similar system on their operations. According to Johnson, it all begins with a farmer's long-term vision for their business.
"One of the most important things we do is look at what that producer's goals are," Johnson said. "What are their soil health goals, crop goals, livestock goals... Then we take a systems approach to how can we put those together to meet their needs and also be good stewards of the land we work on."
Johnson encourages farmers to take inventory of what resources are available to them - things such as equipment, labor, time and capital. One of the final pieces of the puzzle, says Johnson, is how to integrate livestock into your system. Once that's done successfully, the system comes full circle, as your livestock helps to replenish nutrients in the soil to feed what Johnson calls "the underground livestock," all the microbes that help make healthy soils.
"My advice for guys getting started is know your goals and know your resources; apply principles, not practices and then - be patient. Change takes time," he said. "Get comfortable with it and get some of those successes. That really starts to build the momentum."
For more of Johnson's advice on how to develop your own conservation system on your land, click here to read our full webstory or listen to Carson's complete interview with Johnson.
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While the U.S. beef industry is well positioned to capitalize on a growing global middle class and an improving economy, trade uncertainty could hamper the U.S.'s ability to capture market share in the coming years, according to a new report from CoBank's Knowledge Exchange Division.
The U.S. beef herd is expanding, bolstered by low input costs, and so is the demand for beef around the world. However, approximately 80 percent of beef exports are sold to countries that could be affected by ongoing trade pact negotiations.
"Beef production in the U.S. is on the rise, and export outlets have never been more important," said industry analyst with CoBank's Knowledge Exchange Division,Trevor Amen, in a recent interview with me. "However, the U.S. is threatening to retreat from key trade deals and the U.S.'s beef exporting competitors are forging their own deals with major global beef importers."
So, what's at stake? Amen says Japan, South Korea, Mexico, Canada and Hong Kong top the list of countries importing beef from the U.S., representing 83 percent of all U.S. beef exports. Of these trade partners, only Hong Kong will be unaffected by current trade pact negotiations. Competing exporters that are part of TPP will gain preferential access to Japan, exports to Mexico and Canada are at risk with NAFTA, and beef trade with South Korea could decline if KORUS is renegotiated. New Zealand, Australia, Brazil and Argentina are all hoping to take of advantage of a trade reshuffle. Meanwhile, U.S. beef exporters eye China as a key long-term opportunity; however, current trade requirements are cost-inhibitive for most U.S. exporters, and recently imposed U.S. tariffs on other Chinese goods could aggravate trade progress in the near-term.
Read the full article and listen to my interview with Amen as he further explains this developing situation in our beef markets, by clicking over to our website.
|Southwest Extension Center's Research Director Randy Boman Announces Departure from DASNR
I was REALLY excited when I heard seven years back that Dr. Randy Boman had decided to move from the south plains of Texas back to Oklahoma and set up shop in Altus as our state cotton specialist.
Almost immediately- the state's cotton industry faced horrible drought and we saw production drop like a rock- but finally it started raining again- and a combination of getting rid of the boll weevil, having rain, farmers looking for a profitable crop to replace wheat acres, and new cotton varieties and technology all came together to have cotton climbing back into a position of prominence in southwest Oklahoma- and points further north. Acres grew, infrastructure was added- and farmers planted over a half million acres last spring- and have harvested a crop north of a million bales for the first time since the 1930s. Even more acres are expected to be planted this spring.
A key player in all of this renewal of Cotton Becoming King in southwestern Oklahoma has been Dr. Randy Boman- and his success makes his latest life decision to leave OSU Extension bittersweet for all who have worked with him.
Earlier this week- Dr. Boman released an open letter announcing his departure from Extension- as he accepts a position with a company called Indigo Ag.
Click or tap here
to read Randy's letter- a reception to celebrate with him is set for Feb 27th- and details about that is at the bottom of the letter we have posted on our website from him.
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