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227 head of cattle on their showlist for the Wednesday,
August 8th sale of finished
sold slaughter cows 1.00 - 4.00 lower and slaughter bulls steady to 1.00 higher on Monday compared to last week's sale - click or tap here for details.
Oklahoma National Stockyards had a strong market with an estimate of 7,200- Higher on Yearlings and Calves- Feeder steers 600-700 lbs. sold 5.00-8.00 higher- click or tap here for the complete report compiled by USDA. Joplin Regional Stockyards sold just over 5,700 head on Monday- Compared to last week, steers and heifers steady, except yearling steers 700 to 850 lbs and 500 weight heifers steady to 3.00 higher. Click or tap here for more info.
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, August 7, 2018
Another Outstanding Week of Progress for the US Corn and Soybean Crops, According to the USDA
On Monday, August 06, 2018 the US Department of Agriculture released its latest Crop Progress report. According to it, 96 percent of the US corn crop is silking, ahead of last year and the average by 4 points. Corn dough is well above last year by 18 and the average by 20 at 57 percent this week. Corn dented is double this time last year and normal at 12 percent. Corn's condition in the US this week rates, 71 good to excellent, 19 fair and 10 poor to very poor. The US soybean crop is at 92 percent blooming ahead of 89 last year and 86 the average. Setting pods is 8 above last year at 75 this week, compared to 58 the average. Nationally, the soybean crop is rated at 67 percent good to excellent, 23 fair and 10 poor to very poor.
Click here to review the complete crop progress report for this week, released on Monday, August 06, 2018.
Looking in on our three-state region across the Southern Plains -
In Oklahoma, corn dough reached 56 percent, up 6 points from the previous year. Corn dented reached 7 percent. Corn's condition this week rates 72 percent good to excellent, 19 fair and 9 poor to very poor. Sorghum headed reached 57 percent, down 3 points from the previous year. Sorghum coloring reached 29 percent, down 3 points from the previous year. Sorghum's condition rates 52 good to excellent, 40 fair and 8 poor to very poor. Cotton setting bolls reached 46 percent, up 6 points from the previous year but unchanged from normal. Cotton is rated this week at 32 good to excellent, 38 fair and 30 poor to very poor.
Click here for a look at the complete report for Oklahoma.
In Kansas, corn condition rated 8 percent very poor, 15 poor, 29 fair, 41 good, and 7 excellent. Dough was 65 percent, ahead of 48 both last year and average. Dented was 23 percent, ahead of 9 last year and 7 average. Sorghum condition rated 2 percent very poor, 6 poor, 30 fair, 53 good, and 9 excellent. Sorghum headed was 58 percent, ahead of 41 last year and 42 average.
Click here to review the complete report for Kansas this week.
Finally, across Texas, corn mature is at 51 percent, on par with last year and near 49 the average. Harvested is 30 percent complete, same as last year and above normal by 11 points. Corn's condition in the state is 31 percent good to excellent, 37 fair and 32 poor to very poor. Cotton setting bolls is at 47, between 43 last year and 52 the average. Bolls opening is at 14 percent complete, modestly ahead of 12 last year and 10 the average. Cotton's condition rates 49 poor to very poor, 30 fair and 21 good to excellent. Sorghum mature is at 60, better than last year by 6 and the average by 5. Harvested is at 57, above last year's 49 and 41 the average. Sorghum's condition rates 38 poor to very poor, 37 fair and 25 good to excellent.
Click here to read the complete crop progress report for Texas this week.
Pasture and range conditions across the Southern Plains this week have mixed progress. Oklahoma actually improved by 2 percentage points over the past week, up from 30 to 32 this week. Kansas made sideways progress, neither improving nor declining from last week, but steady at 29 percent good to excellent. Texas, however, dropped another 2 points since the last report, down to 11 from 13 percent. Arizona again leads the way in the worst category with a 98 percent poor to very poor rating. Missouri comes in second place at 73 percent poor to very poor, followed by New Mexico at 60 percent.
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CattleFax Analyst Randy Blach Suspects Feeders will "Leak a Little Oil" as Record Production Grows
One of the things we learned during the 2018 Cattle Industry Summer Business Meeting in Denver this past week, was that the US beef cow herd is indeed coming into a new plateau after a couple of years of herd expansion. Randy Blach of CattleFax addressed that situation during the conference and we had the chance to speak with him afterward to ask his outlook on the current shape of the industry and what it might look like going forward.
Blach says in addition to this plateau in the number of beef cows, we are also stretching production out to a new historical record. He says that all together, beef, poultry and pork - the US will produce 11 billion lbs. of protein this year. As remarkable as that is, what is more so - is that we're actually consuming it all, too.
Blach says as the market goes on, the cow/calf producer and stockers stand to enjoy continued profitability. Feeders, though, maybe not so much - or as he put it... "will likely leak a little oil."
Listen to Blach and I discuss the shape of the industry now and what it might look like here in the near future, by clicking here.
Buckle Your Seat Belts - Derrell Peel Takes Us in for a Closer Look at Trade Turbulence in Ag Markets
Agricultural markets are caught in a whirlwind of trade disruptions, so says OSU Ag Economist Derrell Peel of OSU. Direct market shocks, he says, will lead to ripple effects that will likely affect most agricultural markets worldwide in the coming months. Based on current USDA estimates, Peel compiled a composite of the current world marketplace to help folks understand where some of the economic hiccups lie, currently.
With the world market becoming increasingly competitive and the US struggling to keep its market share around the world - we're beginning to see the impact its having on our different commodity sectors. (Click here
to review those profiles, compiled by Peel, to get an idea of where the US ranks among other nations related to the various major crops in terms of production.)
Although seeing it all laid out in front of you offers a little perspective, Peel is right that to understanding the full impact of the interplay and the relationships between this worldwide economic tug-of-war, is a bit harder to wrap one's arms around.
"With many changes hitting agricultural markets simultaneously it is very difficult to sort out how markets may be impacted and for how long," he writes. "In some cases, global market shares may be affected in the short run and possibly long term as well."
Again, you can click here to review his article included with this week's edition of the Cow/Calf Corner to get an idea of where the US stands agriculturally speaking compared to our international competitors.
USMEF Reports Tremendous First Half for U.S. Beef Exports, Pork Exports Still ahead of 2017 Pace
Strong June results capped a huge first half of 2018 for U.S. beef exports, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). June pork exports were lower than a year ago for the second consecutive month, but first-half volume and value remained ahead of last year's pace.
First-half total beef exports set a record pace in both volume and value as international customers bought a larger share of U.S. beef production at higher prices, indicating strong demand. Export volume was up 9 percent from a year ago to 662,875 mt while export value was just over $4 billion, up 21 percent. In previous years, export value never topped the $4 billion mark before August.
"It's remarkable to think that as recently as 2010, beef exports for the entire year totaled $4 billion, and now that milestone has been reached in just six months," noted Dan Halstrom, USMEF president and CEO. "This should be a source of great pride for the beef industry, which has remained committed to expanding exports even when facing numerous obstacles. And with global demand hitting on all cylinders, there is plenty of room for further growth."
After setting a new record in April, pork export volume has trended lower the past two months, mainly due to lower exports to the China/Hong Kong region. For the first half of 2018, though, pork export volume was still 2 percent ahead of last year's record pace at 1.27 million mt, while value increased 5 percent to $3.36 billion.
"Pork exports - and especially variety meats - face a very challenging environment in China/Hong Kong due not only to retaliatory duties but also because of increasing domestic production in China," Halstrom explained. "On the positive side, exports are achieving solid growth in most other markets and reached new heights in destinations such as Korea and Latin America. So, there is no time to dwell on factors the U.S. industry cannot control - we must continue to find new opportunities in both established and emerging markets."
Click here to review the complete report from the USMEF to see more highlights of US red meat export performance during this period.
Learn More about the Beef Checkoff
The Oklahoma Beef Council (OBC) has moved to a monthly e-newsletter packed with information about your Beef Checkoff and activities on a state, national and international level. In the July issue, learn more about the Cowboy Ninja Warrior, Beef and a Mediterranean diet and OBC outreach to chef influencers. Click here to learn more.
Keep Calm and Carry On - Trump's Trade War Rages On, But World Market Remains Full of Optimism
Many of the markets the US beef industry relies on around the world are doing fairly well, despite the effects of the Administration's war on trade tariffs such as Japan and South Korea. However, Dan Halstrom, president and CEO of the US Meat Export Federation, says there is in any case some worries out there regarding other markets being directly impacted by President Trump's tariff battle.
"The one place we've seen it already in beef is China," he said. "China opened roughly a year ago. The first five months of this year, we averaged about 600 metric tons a month. Not a big number, but it's considerably up from where we started, just 50-100 tons a month, back a year ago."
However, since then, Halstrom says that number has began to ease off and while July data is not out yet he is expecting for both volume and value to be down in China for US beef exports. Even so, Halstrom says there is still business going on there and demand for American beef exists. If the President is successful in his mission to even the playing field, Halstrom says that demand will grow and continue on. Until that goal is realized, though, Halstrom says the USMEF will support the Administration's endeavor to foster free and fair trade. In the meantime, there are other concerning markets to monitor as well.
"We're going to be focusing on some of these main markets, we'll be watching Mexico. The Administration is working on getting a NAFTA 2.0 of some sort. We think this incredibly important going forward," he said. "The other thing is some of the new and emerging regions. Central and South America is growing phenomenally and even some of the markets in Africa are growing. So, we're going to keep pushing on these newer regions as well."
Listen to Halstrom and I discuss which markets around the world are most concerning to the US beef industry right now, given the current trade climate, on yesterday's Beef Buzz - click here.
|Global Roundtable for Sustainable Beef Membership Affirms Statement on Antimicrobial Stewardship
In a release issued yesterday, it was announced that the membership of the Global Roundtable for Sustainable Beef (GRSB) voted overwhelmingly to approve a global Statement on Antimicrobial Stewardship to recognize the urgency with which action against the development of Antimicrobial Resistance (AMR) needs to be taken.
The GRSB Antimicrobial statement is aligned with World Organization for Animal Health (OIE) guidance and equivalents adopted in other countries for antimicrobial use in cattle. It provides suggestions to aid cattle producers and the veterinary profession in maintaining herd health and welfare, as well as economic viability. The GRSB worked collaboratively with members and specialists over a period of months to produce the statement, and after two rounds of membership consultation, the members voted to approve its release.
GRSB President Nicole Johnson-Hoffman, of OSI Group, LLC said "Antimicrobial resistance is a major global threat to human and animal health." She insisted that the statement reflects what GRSB members believe should be done by the beef value chain to manage antimicrobials responsibly. This guidance is especially important for places in the world that lack structures to support responsible antibiotic use. Just 89 countries report having a system in place to collect data on the use of antimicrobial agents in animals (OIE, 2015) and roughly 40 percent of countries report they have yet to develop national action plans.
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Mark Your Calendar: OKFB Area Meetings - AFR Area BBQs - Women in Ag Conference - OK Wheat Growers Convention - Rep. Frank Lucas Town Hall Meetings AND MORE!
We are off to another busy month here in August with several events kicking-off this week. Here's a snapshot of some things coming up you won't want to miss, so get your datebooks handy...
From now through August 23rd, Oklahoma Farm Bureau is hosting its area meetings across the state. Things were kicked off last evening in Guymon. The next meeting is scheduled for tonight in Woodward. Members and guests are invited to come out and participate in the discussion to help draft the organization's grassroots policy for this next year. More details can be found here.
The American Farmers & Ranchers is also hosting their annual BBQs and member policy meetings. This series gets underway today with the first BBQ at noon in Muskogee, followed by another at 6:00 p.m. in Stillwater. For a full schedule and details, click here.
The Women in Agriculture and Small Business Conference is also happening this Thursday and Friday at the Embassy Suites Downtown/Medical Center located at 741 N. Phillips Avenue in Oklahoma City, OK. For more information, click here.
Plus, the Oklahoma Wheat Growers Association's 2018 Convention will take place in El Reno, Okla. this Thursday at Redlands Community College. Click here for information on the day's agenda and how to register.
Finally, we wanted to make sure everyone was aware that Oklahoma's 3rd District Congressman Frank Lucas is planning to host a couple of Town Hall meetings - one in Kingfisher from 10-11:00 a.m. on Friday the 10th and also one in Enid the same day from 1:00 to 2:00 p.m. Click over to the calendar page for more details on these events and others coming up. And remember, if you have your own event you need help spreading the word about, always feel free to let us know how we can help.
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