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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.
has 409 head of cattle on their showlist for the Wednesday, March 28th sale of finished cattle - click here to jump to the website.
For the second week- both yearlings and calves trend lower at the Oklahoma National Stockyards- click or tap here for the complete report courtesy of USDA Market News
Joplin Regional Stockyards also sees cheaper money for the second week in their Monday sale- click or tap here to check it out.
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
Tuesday, March 27, 2018
Wheat Conditions Show Noticeable Improvement This Week Compared to Last in Latest Progress Report
In this week's Crop Progress report released on Monday by the USDA, winter wheat's condition in Oklahoma
improved from the previous week rated currently at 28 percent very poor, 26 poor, 37 fair and 9 good to excellent. Winter wheat jointing reached 36 percent, down 5 points from normal. To view the complete report for this week, click or tap here
Winter wheat condition in Kansas
, this week rated 15 percent very poor, 34 poor, 38 fair, 12 good, and 1 excellent. To view the complete report for this week, click or tap here
Wheat conditions in Texas
rated this week at 34 percent very poor, 29 poor, 25 fair, 10 good and 2 percent excellent. Wheat headed is currently 5 percent complete, behind last year by 5 points but above the average by 1 point. To view the complete report for this week, click or tap here.
Compared to a week ago - the Oklahoma Poor to Very Poor number is 12 points better(54% poor to very poor) than the 66% poor to very poor- while the Kansas crop increased by 6 points (55% last week- 49% this week) and the Texas crop worsened by 3 percentage points (60% last week- 63% this week).
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|Placements at High End of Estimates in Latest On Feed Report- BUT Placements Lower Than Year Ago Dead Ahead
The US Department of Agriculture, on Friday, released its latest Cattle on Feed report for the month of March. As expected, large numbers were seen across the board, even on the high end of the expected range. Don Close of Rabo AgriFinance was in Fort Worth this weekend presenting at the Texas Southwest Cattle Raisers Association Convention, where I had the chance to get his reaction to this report.
According to Close, a major influence on this report began back in September when a large number of cattle began to be forcibly placed due to the availability, or lack thereof, of wheat pasture. "I think we've really pulled cattle forward and as a result of that - into the summer, I think we'll see placements below year-ago levels," he said. "I think it will balance out."
Initially, Close says he was concerned with the August - October period particularly regarding the carcass weight of those cattle placed early on. But, he asserts that since so many calves have been placed so early, that concern must be shifted forward to even later this summer and suggests the market will feel a "double-whammy" of the impact from this situation as it plays out. For this reason, Close insists keeping both domestic and export demand strong is critical.
"We're no longer in a situation where we can eat our way out of this thing, domestically," Close remarked, adding that this will likely hurt the price of finished cattle - at least on the cash side - but believes there is little downside left for the futures market to go. Luckily, though, he says we are approaching the summer grilling season and an early Easter which will hopefully help to keep product moving.
Listen to Don Close of Rabo AgriFinance offer his reaction to the latest on feed report, with me on yesterday's show - click here.
|Juanita Bolay of Perry, Okla. Recognized as a Significant Woman in Agriculture by ODAFF
Juanita Bolay of Perry has been taking care of the business end of her family's farming operation for decades, specifically marketing. She and her husband, Bob, have been farming since they were children, but together on their own operation that began small in 1955 after Bob's honorable discharge from the Army. This past week, Bolay was honored by the OK Dept. of Ag as a Significant Woman in Oklahoma Agriculture.
As their family grew, so did the farming operation. They increased their acreage both through purchases and inheritances. As her children grew up and the farming operation expanded, Bolay became increasingly interested in the business of agriculture.
She once said, "I had been doing the bookkeeping all along, but as our operation got larger, it began to take more of my time, and I became more aware of things like marketing techniques. I started charting the changes in the different markets over time and I began to see how important it was to keep on top of those changes."
Today the family has a small grains operation - wheat, corn, soybeans, milo and cotton - and primarily a stocker calf operation with a small cow herd. All three of Bolay's sons and some her grandchildren are active partners in the family farm.
Bolay has been involved with Oklahoma's larger farming community, too, serving on what is now Oklahoma Farm Bureau's Women's Leadership Committee, an active member at St. Rose of Lima Catholic Church where she taught Sunday school. She also kept busy helping with the local 4-H and FFA chapters.
|Derrell Peel Says Mixed Macroeconomic Signals Shaking Cattle Market Amid Higher Beef Production
In this week's article for the Cow/Calf Corner newsletter, Dr. Derrell Peel takes a look at some of the macroeconmic signals that he says are rattling cattle markets right now.
So far in 2018, Peel reports that beef production is higher year over year as expected, with increased cattle slaughter and carcass weights. He says beef demand has continued on strong with carried over momentum from 2017. In addition, cattle prices, both feeder and fed, along with wholesale and retail beef prices have generally been higher year over year so far this year. But despite the challenges of growing cattle and beef supplies and seasonal pressure ahead in many markets, Peel asserts that cattle market fundamentals are quite supportive and stable at this time. However, cash cattle prices recently dropped sharply, led by weaker feeder and live futures - which he says reflects the biggest threat to cattle markets: "an increasingly turbulent and murky macroeconomic environment."
At the moment, Peel describes the current economy in the US as having "one foot on the accelerator and another foot on the brakes, making it extremely difficult to figure out what happens next or, perhaps more importantly, what happens after that."
So, should cattle producers be running for cover? Probably not yet, Peel advised, but says it is not a bad idea to have a plan in place if the worst should happen.
"I recommend figuring out where cover is and how you can get there at a moment's notice," he writes. "Cattle producers need to closely monitor the broad range of macroeconomic and global conditions and be prepared to abruptly switch to a strongly defensive business strategy. Markets are increasingly volatile and it will be important to maintain as much short term flexibility as possible to deal with rapidly changing conditions. The uncertainty and volatility likely has not peaked yet but one hopes that it will be followed relatively soon by more clarity and stability. However, there is certainly no guarantee of that and producers must be prepared to hunker down and weather the storm."
Click here to read the full article for more of Dr. Peel's advice on the matter.
The Oklahoma Cattlemen's Association is the trusted voice of the Oklahoma Cattle Industry. With headquarters in Oklahoma City, the OCA has a regular presence at the State Capitol to protect and defend the interests of cattlemen and cattlewomen.
Their Vision Statement explains the highest priority of the organization- "Leadership that serves, strengthens and advocates for the Oklahoma cattle industry."
To learn more about the OCA and how you can be a part of this forward-looking group of cattle producers, click here for their website
. For more information- call 405-235-4391.
|Majority of Consumers Have It Wrong, Believing All Beef, Pork and Poultry Receive Added Hormones
This month, for the March 2018 edition of the FoODS survey, the surveyors at OSU decided to replicate a survey conducted back in May of 2016. What they found was that - yes, the public's knowledge of hormone use in production ag had improved... some. But, despite the improvement, the survey indicates that still to this day, more than half of consumers think hormone use is widespread in the ag industry.
Like they did in the May 2016 version, respondents indicated they believe that more than half of beef cattle, broiler chickens and pigs are given added growth hormones to promote growth and development - which in fact has been prohibited by federal law for pork and poultry for decades.
Nonetheless, respondents ranked beef cattle the highest among the three species as recipients of hormones, though the average did decrease from the previous rankings found in the May 2016 version - down to 58.7 percent from 60.4 percent. The average of people who believe pigs receive hormones decreased also, down to 53.3 percent from 54.0 percent. The average for poultry though increased, to 57.0 percent from 55.3 percent. Survey respondents said they were willing to pay about a $1 to $2 premium for meat labeled "no added hormones," but that dropped slightly when they were reminded that about 90 percent of all U.S. feedlot cattle are injected with hormones to improve growth rates and feed efficiency, and that federal regulations do not allow the use of growth hormones in chicken or hog production. To take a look at the complete summary report of this month's edition of the FooDS Survey for more highlights, click or tap here.
|RFA Opposes Proposed PES Settlement, Says Refiners Would 'Have Their Cake and Sell It Too'
The Renewable Fuels Association expressed its strong opposition to the DOJ, yesterday, regarding the EPA's proposed settlement agreement with Philadelphia Energy Solutions, or PES, that would allow the bankrupt refiner to unjustifiably waive the vast majority of its Renewable Volume Obligations.
"The proposed PES settlement agreement, which covers the refiner's RVOs for January 2016-April 2018, should be rejected "because the terms are patently unfair, unreasonable, and inconsistent with the purposes of the RFS program," RFA wrote.
RFA noted, "By allowing PES to retire only 138 million RINs for its pre-effective date obligation of more than 500 RINs, DOJ and EPA have effectively waived approximately three-quarters of PES's RVOs for this period... This is a classic case of a regulated entity being allowed to have its cake and sell it, too-while PES seeks to escape from its financial responsibilities under the RFS program, it embraces that same program for the limited purpose of profiting from it."
RFA proposed the settlement agreement to be modified to account for the contribution of PES' parent companies; to provide liability releases only for those entities contributing to PES' RINs obligations; and to require PES to use all of its current RINs-including the 64.6 million RINs that the agreement would allow PES to carry forward-to be used toward its 2016 and 2017 RFS obligations.
The U.S. Bankruptcy Court of Delaware has to approve PES' proposed settlement agreement on April 4.
Click over to our website for the original article to read more about this developing story.
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|From the Calendar: Feral Hog Outreach - Crop Production School - Upcoming OISA Meeting
There are several learning opportunities coming up on the calendar for farmers and ranchers to educate themselves on a variety of issues that are impacting the rural community statewide.
First up - The Oklahoma Independent Stockgrowers Association will be kicking off its first round of spring meetings beginning in Woodward on Wednesday, March 28th at 6:30. The meeting will be held at the Woodward Livestock Auction and will feature Bill Bullard with R-CALF USA as the guest speaker. Three more meetings will be held each following night with one in Enid on the 29th, one in Purcell on the 30th and one in Durant the 31st.
For more information- call Andy Hutchison at 580-886-5149 or click over to the calendar page on our website.
Also coming up, the LeFlore and Haskell County Conservation Districts are co-hosting a feral hog outreach meeting in conjunction with the Eastern Oklahoma Beef Cattle Summit on March 29th.
The meeting will run from 9 AM to 9:50 AM and will feature Scott Alls, Assistant State Wildlife Director at ODAFF. The meeting, and the entire Eastern Oklahoma Beef Cattle Summit, will take place at the Southeast Oklahoma Expo Center in McAlester.
For more information on the LeFlore County and Haskell County feral hog outreach meeting, click here.
This year's clinic begins at 8 a.m. to 3:30 p.m. and will take place at Hunny's BBQ, located at 103 N. Main St. There is no cost to attend but participants are asked to RSVP no later than April 2 to ensure sufficient seating and conference materials are on hand.
In addition to agronomic production insights, producers will also hear from OSU experts about farm data, economics and budgets, and new trait technologies.
Dicamba training mandated by the U.S. Environmental Protection Agency will offered to clinic participants immediately following the event. The training is required for anyone who plans on applying Xtendimax, FeXapan or Engenia in dicamba-tolerant soybeans or cotton.
Anyone seeking additional information should contact Josh Bushong by phone at 580-237-7677 or click here to read the program notice online.
|Our thanks to Midwest Farms Shows, P & K Equipment, American Farmers & Ranchers, 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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