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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.
474 head of finished cattle
were offered Wednesday on FedCattleExchange.com - 387 cattle were actually sold with a weighted average price of $126.00. Click here to see their complete market results.
OKC West saw yearlings go cheaper on Wednesday- weekly details of their sale are available 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:
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
Thursday, March 8, 2018
The National Farmers concluded its 116th convention this week in Kansas City following the adoption of the organization's policy book and special orders of business. Nearly 500 delegates from across the country gathered to participate in the development of NFU's policy that will guide the organization's government affairs priorities over the course of the next year.
Delegates also reelected Roger Johnson as NFU President, and elected Patty Edelburg of Scandinavia, Wisconsin, to serve as NFU Vice President.
American Farmers & Ranchers is the NFU's single largest state affiliate organization and often offsets some of the more populist views in other states with its general conservative stance.
"There's a much more liberal content that's out there and we are a major part of being able to add balance to the organization everywhere we can," said AFR President Terry Detrick. "I've been told by leadership of NFU, we give them balance. To me, I think that's a complement to our folks back home."
According to a release from NFU, 194 delegates from 33 states approved nine special orders of business, to set this year's policy for the organization. For a look at what those special orders entailed, click over to our website for further reading.
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.
|Oklahoma Wheat Growers President Keeff Felty of Altus Talks Politics and Prices with Carson Horn
Our own Carson Horn had the chance to speak with Altus farmer and President of the Oklahoma Wheat Growers Association Keeff Felty last week during the 2018 Commodity Classic in Anaheim, Calif. who responded to the some of the financial pressures farmers in Oklahoma are currently experiencing.
On a policy level for instance, some state policymakers have eyed the ag sales tax exemption enjoyed by farmers recently as a possible means to help offset some of the state's existing budget woes. Felty defended the exemption as a key financial tool for agribusinessmen.
"For us in Oklahoma it's crucial. It's been a long-standing exemption and it's strictly on input purchases," he asserted. "We're purchasing inputs to put together a sellable product and then that product will ultimately go into the tax revenue stream. You've got so many layers of sales tax and the way it works, especially in agriculture, it's all going in and out and it's already on your ad valorem roll at the county level. It's a bid deal for agriculture and our survival."
With commodity prices still severely depressed, Felty insists farmers can't handle another negative financial hit. The current price of wheat is so strenuous on some farmers' bottom lines right now, that many have opted to switch to more potentially profitable crops this year, such as cotton. Felty doesn't seem to be sweating that fact, though, calling cotton the current "Cinderella of commodities" right now. He says the ag business is cyclical and believes wheat will eventually bounce back.
Listen to more of what Felty had to say about the state's wheat industry and hear how his crop is doing in his part of the state, by clicking here.
|Times are Changing - Producers Must Change with It to Fit into New Hybrid Retail Model Taking Hold
According to Don Close, protein market analysist for Rabo AgriFinance, some of the things going on closer to the consumer along the beef pipeline will have an impact eventually on our beef cattle industry and how we produce beef for today's consumer. He explained to me recently, it is all about what's happening at the retail level. He says with a changing environment with new channels for consumers to make their transactions with retailers, the traditional brick and mortar grocery store is becoming boxed in with nowhere to go. New business models incorporating e-commerce, delivery and other shopping innovations, Close says, will continue to evolve and force grocers to adapt in the future.
"This all really accelerated and came to life with the announcement back in June when Amazon bought Whole Foods for $13.7 billion," Close said. "Initial thinking when that transaction was completed was - it's just war and how quick will it be before online shopping takes over from the conventional stores. As time has gone by, people have had the chance to rethink some of that and really what we're landing on - it will probably be more of a hybrid."
By that, Close means customers will probably do their shopping and pay online, but pick up their groceries from a centralized collection site, either from an open grocery store or from a closed store that has been converted to simply a warehouse facility. Eventually, he says this will pressure producers throughout the beef pipeline to adapt their business models to fit into this new mode of distribution.
"I think we'll get back to the craze we were at 15-20 years ago that everybody needs to be in an alliance or some kind of marketing agreement, but as we become more and more specific, not only with the quality of cattle we're talking about, but how those cattle were fed and managed," he said. "So, the price range that we have in all classes of cattle, I think will be much wider than what we see today."
Listen to Don and I speak about the changing retail marketplace, by clicking here.
|Wheat Organizations Ask USTR to Work Toward Re-Joining TPP to Prevent Serious Revenue Loss
The U.S. Wheat Associates along with the National Association of Wheat Growers and 33 other state wheat organizations wrote a letter to U.S. Trade Representative Robert Lighthizer, this week expressing their hope that the Administration will immediately prioritize accession to the Trans Pacific Partnership to save the valuable Japanese market for U.S. wheat farmers. Both the Oklahoma Wheat Commission and the Oklahoma Wheat Growers Association have signed onto the letter.
The letter states that once TPP is ratified, U.S. wheat exports to Japan will be at serious risk, as tariffs paid by Japan for Australian and Canadian wheat will drop significantly in the coming years, compared to US tariffs.
The letter notes that US wheat market share is typically more than 50 percent of the 6 million metric tons of wheat Japan imports annually. However, sources say that could quickly fall to less than 25 percent once TPP goes into effect.
Welcoming President Trump's recent softening to TPP, the organizations suggest Ambassador Lighthizer include acceding to the TPP as an objective in the Administration's report to Congress.
Click here to read
more (and to get to a link to the complete letter) about the wheat industry's appeal to USTR Lighthizer urging immediate accession to TPP.
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|Oklahoma FFA President Ridge Hughbanks Excited About Upcoming State Convention
With less than two months left to go before the 2018 Oklahoma State FFA Convention, State Association President Ridge Hughbanks spent some time reflecting on his FFA career with me recently, and shared some of the plans he and his team has in the works to get members excited as they highlight their accomplishments from the past year.
Together, Hughbanks says he and his teammates are counting the days down to convention. One of the most exciting things on tap though for convention this year, he says is hosting the Association's first-ever Presidential cabinet member at the event, Secretary of Agriculture Sonny Perdue.
In addition, longtime State FFA Executive Secretary Kent Boggs will be retiring from his position making this the last FFA convention he will oversee. Hughbanks says the team has some surprises in store for Boggs to honor his 30+ years of service to the organization and its members, though he admits - it is hard to keep them a secret from the man who runs the show.
"My words can't do enough justice for the things he's done and the teams prior that have had him," he said. "So, we're very honored for everything he's done, but in the spirit of progress and moving forward, we're also really excited to see where the organization is going to go."
Hear more about what Ridge and his teammates have lined up for this year's convention - visit the Blue/Green Gazette on our website, available here.
|Growth Energy Joins 150 Biofuel Plant Managers in Letter to Trump Calling for Year-Round E15 Sales
Roughly 150 biofuel plant managers urged President Donald Trump, yesterday, to pursue the path that's a win-win for agriculture, the biofuels industry, and blue-collar workers, regarding the Renewable Fuel Standard and RIN prices.
Growth Energy joined the managers in a letter that calls for Reid Vapor Pressure relief for E15 fuels and also asks the administration to reject Ted Cruz's proposals that they say "pick winners and losers."
Growth Energy CEO Emily Skor says the Cruz campaign against RINs "is based on fairytales designed to justify handouts for the same folks who raided corporate funds at the expense of local workers in Philadelphia," referring to the failed refinery in Pennsylvania that claimed RIN prices led to its bankruptcy.
The letter to Trump explains that allowing year-round E15 sales would "support growth on all sides, generate a new supply of RINs, and ease pressure on refiners." But the letter states the proposal "holds no value" if it becomes tied to RIN caps that eliminate market access for biofuels.
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|Happening- Competition Begins at OYE, USDA Report Day, Superior Sale Day and Irrigation Meeting Today
The first animals that will be shown at the 2018 Oklahoma Youth Expo will step into the sort ring at 8:00 AM this morning- those deemed "worthy" will make it up the hill to the OYE Hog Show Ring to kick off the Purebred Gilt show that happens today and tomorrow morning. After the Purebred Supreme Drive sometime before midday Friday- the Commercial Gilts will repeat the process.
All the details about today's schedule at the Oklahoma Youth Expo can be seen by clicking or tapping here- our coverage of the 2018 OYE is powered by ITC, your Energy Superhighway.
USDA will have their monthly supply demand numbers out this morning- Allendale has provided some previews of the key numbers- "USDA's March Supply and Demand Report and the world production estimates will be released today at 11:00 am.
"Analysts surveyed have average estimates for US ending stocks for corn to decline from 2.352 in February to 2.312 billion bushels in March. Soybean estimate is 530 million bushel which is unchanged from February. Wheat ending stocks are expected to rise slightly.
"Brazilian corn production is estimated at 92.22 mmt compared to 95.00 mmt last month. Argentina corn production is estimated to be 36.58 mmt compared to USDA's February estimate of 39.0 mmt.
"Argentina soybean production is estimated to be 48.36 mmt vs. 54.0 last month. Brazil soybean production this month is estimated at 113.82 mmt vs. 112.0 in February."
Superior Livestock will hold their regular every other week Video Auction- starting at 8 AM Central time this morning- they have 17,100 to offer today- Sale details are available on the Superior website by clicking or tapping here.
The 2018 Oklahoma Irrigation Conference is set to start at 8:00 AM this morning in Weatherford at the Pioneer Cellular Event Center.
A variety of presentations will cover how to get the most out of your irrigation efforts for crops from alfalafa to watermelon- and everything in between.
Click or tap here to review details of the one day event,
REMEMBER- we have lots of events listed on our calendar- and we invite you to check it regularly by clicking or tapping here to stay on top of what is going on in the world of agriculture- if you don't see your item on there- drop me an email and we will get it listed!
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