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The Monday Sale at the Oklahoma National Stockyards
featured 5,400- Feeder steers 600-800 lbs unevenly steady; over 800 lbs 2.00-4.00 lower. Feeder heifers 1.00-5.00 lower; over 800 lbs not well tested. 500-600 steer calves unevenly steady, lighter weights had a limited test. For the complete report- click or tap here.
Joplin Stockyards reported just over 6,100- steer and heifer calves traded steady to 2.00 lower, spots 3.00 to 5.00 lower on heifer calves. Yearlings sold firm with good demand for the short supply. For the complete report from USDA- click or tap 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
Runoff Election Day
Rural Voters Can Make the Difference
Get Out and VOTE!
Tuesday, August 28, 2018
Primary Runoff Elections Set as Oklahoma Voters Make Their Choices- Rural Voters Can Make the Difference
Election Day has arrived in Oklahoma- as the 2018 Primary Election Runoff is being conducted today across all 77 Oklahoma Counties. There are a total of 9 statewide races to be decided today- seven Republican, one Democrat and one Libertarian.
At the top of the ticket are two races that will help decide who will be on the ballot for Governor in Oklahoma this coming November. The Democrats have already selected Drew Edmondson as their candidate, while the Republicans must choose between Mick Cornett and Kevin Stitt while Libertarian voters will select either Chris Powell or Rex Lawhorn.
The other six Republican statewide races include Lt. Governor, State Auditor, Attorney General, State Superintendent of Education, Commissioner of Labor and Corporation Commision. The lone Democrat statewide race will decide the Democrat's nominee for Corporation Commission.
Click here for the complete list of who is on the ballot in the statewide races. We also have details about the other races that will determined by the time the polls close later today.
After the June Primary- we talked with both GOP candidates for Governor- you can go back and listen to what they had to say about rural Oklahoma and agriculture- click here for the Mick Cornett conversation and click here for our visit with Kevin Stitt.
You may recall that I moderated the Q&A session that the two candidates were at during the 2018 OCA Convention- click here for the audio from that event that happened in July.
Turnoff is expected to be on the light side- which means rural voters have the chance to have a real say so in every single race that is on your ballot. YOU CAN MAKE A DIFFERENCE- Take the time and go VOTE!!!!
By the way- the Oklahoma Farm Bureau's AgFund has a voters guide- click or tap here to check it out- they have endorsed two candidates in the statewide races going on today- AG Mike Hunter and Corporation Commissioner Bob Anthony.
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Agriculture Secretary Sonny Perdue Monday announced details of the trade assistance package for farmers hurt by the President's trade agenda. The $12 billion package will provide payments to producers as part of a "short-term relief strategy" to protect agriculture.
The Department of Agriculture's Farm Service Agency will administer the Market Facilitation Program to provide payments to corn, cotton, dairy, hog, sorghum, soybean and wheat producers starting September 4th, 2018. It's important to note that payments will be based on actual production. Producers must harvest a crop and provide their production numbers to USDA before payment can be sent. The payments to producers will total $4.7 billion.
Also included in the relief package, USDA's Agricultural Marketing Service will administer a Food Purchase and Distribution Program to purchase up to $1.2 billion in commodities targeted by "unjustified" retaliation. And, through the Foreign Agricultural Service's Agricultural Trade Promotion Program, $200 million will be made available to develop foreign markets for U.S. agricultural products.
Soybeans: 1.65 per bushel for 50 percent of production
Corn: One cent per bushel for 50 percent of production
Pork: 50 percent of the total number of pigs on hand as of August 1, $8 per pig.
Cotton: Six cents per pound of 50 percent production.
Sorghum: 86 cents per bushel of 50 percent production
Dairy: The margin protection historic number at 12 cents per hundredweight times that production number.
USDA has a number for 21,000 Dairy producers but for those who don't have it can be calculated by USDA.
Eligible applicants must have an ownership interest in the commodity, be actively engaged in farming, and have an average adjusted gross income for tax years 2014, 2015, and 2016 of less than $900,000. Applicants must also comply with the provisions of the "Highly Erodible Land and Wetland Conservation" regulations. On September 4, 2018, the first MFP payment periods will begin. The second payment period, if warranted, will be determined by the USDA.
The initial MFP payment will be calculated by multiplying 50 percent of the producer's total 2018 actual production by the applicable MFP rate. If the Commodity Credit Corporation announces a second payment period, the remaining 50 percent of the producer's total 2018 actual production will be subject to the second MFP payment rate. Payments are capped per person or legal entity at a combined $125,000 for dairy production or hogs. Payment for dairy production is based off the historical production reported for the Margin Protection Program for Dairy. Payment for hog operations will be based off the total number of head of live hogs owned on August 1, 2018.
For more information or listen to Perdue and USDA Chief Economist Rob Johannsen announce these programs during a briefing held Monday afternoon, by clicking here.
USDA Undersecretaries Northey, Ibach and McKinney to Lead Facilitation of Farm Aid Assistance
During yesterday's briefing where the administration's Farm Aid Package was unveiled, Secretary Sonny Perdue was joined by Undersecretaries Bill Northey, Greg Ibach and Ted McKinney, who each took to the podium after Perdue to discuss the details of the respective programs included in the package that their departments would oversee. Click on the links below to hear the Undersecretaries' remarks on the programs for which they'll each be responsible for, or to read more about them.
Specifically, USDA's Farm Service Agency, overseen by Northey, will administer the Market Facilitation Program (MFP) to provide payments to corn, cotton, dairy, hog, sorghum, soybean, and wheat producers starting September 4, 2018. An announcement about further payments will be made in the coming months, if warranted.
In addition, USDA's Agricultural Marketing Service, led by Ibach, will administer a Food Purchase and Distribution Program to purchase up to $1.2 billion in commodities unfairly targeted by unjustified retaliation. USDA's Food and Nutrition Service (FNS) will distribute these commodities through nutrition assistance programs such as the Emergency Food Assistance Program (TEFAP) and child nutrition programs.
Through the Foreign Agricultural Service's, overseen by McKinney, the Agricultural Trade Promotion Program (ATP), with a budgeted $200 million will work to develop foreign markets for U.S. agricultural products. The program will help U.S. agricultural exporters identify and access new markets and help mitigate the adverse effects of other countries' restrictions.
Agriculture groups welcomed the aid offered by a Department of Agriculture relief package announced Monday, but urged the administration to end trade disputes.
The National Cotton Council thanked the Trump Administration for its recognition of the impacts of China's retaliatory tariffs and applauded the Administration's plan. However, the NCC also encouraged the Administration to continue its work to open a dialogue between the U.S. and China to find a long-term solution that will resolve the trade tensions.
"The tariff mitigation program announced today will help address a portion of the losses cotton producers are facing in the marketplace" stated NCC Chairman Ron Craft. "However, there is continued economic stress on producers in areas of the Cotton Belt."
The American Soybean Association echoed cotton growers' sentiments in their own statement.
"While this assistance package will definitely help our farmers get through the bad patch we're currently facing," said ASA President John Heisdorffer, "we must remain focused on market opportunities in the long term.
Oklahoma wheat producer and president of the National Association of Wheat Growers, Jimmie Musick, weighed in as well, critical of the fact that the package fails to consider all commodities that have been impacted by China's retaliation.
"Farm income is down, and rural America is enduring a prolonged economic downturn. This relief package shows that the Administration isn't grasping the tough conditions being faced by farmers," he said. "The long-term solution is to end the trade war."
The National Sorghum Producers were a bit more optimistic, adding that "This sends a strong message to the international trade community and will hopefully facilitate a speedy resolve to our current trade disputes. NSP appreciates the assistance provided, along with the purchase and promotion components that can help build toward more lasting solutions."
President of American Farm Bureau, Zippy Duvall, though summed it well, commenting that "The administration's tariff mitigation package is welcome relief from the battering our farmers and ranchers are taking in the ongoing trade war... Nationwide, income is at a 12-year low, so any assistance that may help farmers is greatly appreciated...
"The real solution to this trade war is to take a tough stance at the negotiating table and quickly find a resolution with our trading partners. If we're going to turn our farm economy around for the long-term, we need to open more export markets with fair trade deals, and the sooner, the better."
Oklahoma Beef Council Update
For the month of September, the Oklahoma Beef Council is running an online Beef Quality Assurance challenge for all Oklahoma beef producers who receive their national BQA online certification.
Producers will be entered to win prizes including ball caps and four ($100) winners and one grand prize winner of $500.00. Don't wait until last minute, but sign-up today at the BQA website and complete your certification by 9/30/2018 to be entered to win.
The U.S. and Mexico have agreed to a new North American Free Trade Agreement framework, prompting President Trump to announce his intent to terminate the current agreement. That means Trump is seeking to replace NAFTA with an agreement that for now does not include Canada.
The expected agreement between the U.S. paves the way for the U.S. to shift its negotiating efforts towards getting Canada to agree to the deal. Although, Trump said he preferred to rename the trade pact to the "United States-Mexico trade agreement." There are still issues to work out with Canada, but administration officials a hopeful the issues can be resolved quickly.
Trump Monday told reporters Canada could have a separate deal or be included in the U.S.-Mexico deal. However, authority over his moves resides with Congress. U.S. Trade Representative Robert Lighthizer indicated he would send a notification letter to Congress later this week to withdraw from the current NAFTA and sign a new agreement with Mexico.
Secretary Sonny Perdue congratulated the President for following through on a promise to American producers.
"This breakthrough demonstrates that the President's common-sense strategy of holding trading partners accountable will produce results," Perdue stated. "President Trump and Ambassador Lighthizer, our U.S. Trade Representative, are to be congratulated for their determination, vision, and leadership."
Oklahoma Secretary of Agriculture Jim Reese reacted to this announcement as well.
"Oklahoma farmers and ranchers are very happy to see an agreement with Mexico," he stated. "We hope this kick starts Canadian discussions and we get back to improved trade agreements with our geographically closest trading partners."
As did Chairman of the Senate Ag Committee, Pat Roberts of Kansas...
"I thank President Trump for his work to improve trade relations with one of our top trading partners," Roberts said. "I am eager to learn more of the details of the new U.S.-Mexico trade deal. I'm hopeful the Administration will move quickly on securing a beneficial trade deal with Canada in the coming days."
Roberts' comments were echoed by House Ag Chairman Mike Conaway.
"I'm very encouraged the president and Ambassador Lighthizer have reached a preliminary agreement with Mexico to modernize and expand market opportunities in NAFTA," he said. "I look forward to reviewing the details to ensure production agriculture's interests and priorities are well served."
AFBF's Zippy Duvall praised the President's progress as well, but also encouraged him to continue to seek common ground with Canada as well.
"This is the kind of trade news we have been waiting for. In a time when the U.S. economy is booming our farmers have been left behind," he stated. "Open markets and good trade agreements will give American agriculture the opportunity to be a part of this booming economy."
The latest USDA Crop Progress report for the week ending Aug. 26, released Monday afternoon, showed soybean condition improve by a point, while corn made a more complicated move, losing a point rated "good" but picking up a point rated "excellent."
For corn quality, USDA rated 47% of the crop good and another 21% rated excellent, versus 48% and 20% the week prior. Another 20% of the crop is rated poor, with the remaining 12% rated poor or very poor - all unchanged from a week ago. USDA considers 10% of the crop mature, up from 5% a week ago and ahead of the five-year average, also at 5%.
Soybean crop quality moved from 67% rated in good-to-excellent condition the week prior to 68%. Another 23% of the crop is rated fair (down 1 point from the week prior), with the remaining 11% rated poor or very poor (unchanged from the week prior). The soybean crop remains ahead of normal development- with 95% of the crop setting pods, moderately ahead of 2017's pace of 92% and the five-year average of 90%.
Click or tap here for the final national Crop Progress report for August, 2018.
Looking at our state Crop Progress releases-
First in Oklahoma, the crop that is really looking great is the grain sorghum crop- now rated in 73 percent in good to excellent shape despite the fact that it is slightly behind a year ago and the five year average- it is now 87 percent headed, down 1 point from the previous year. Sorghum coloring reached 43 percent, down 8 points from the previous year and down 7 points from normal. Sorghum mature reached 14 percent, unchanged from the previous year.
For a complete look at the latest Oklahoma Crop Weather Report- click or tap here.
The 2018 Kansas Corn Crop Harvest is underway, with the latest Crop Progress report for the state showing corn two percent harvested. The corn condition rated 10 percent very poor, 17 poor, 27 fair, 39 good, and 7 excellent. Corn dough was 92 percent, near 88 last year and 89 for the five-year average. Dented was 71 percent, ahead of 55 last year and 54 average. Mature was 23 percent, ahead of 13 last year and 11 average.
Click or tap here to review all the details of the the August 27th Kansas Crop Progress report.
Finally in Texas- we focus on harvest of most of our spring crops- grain sorghum is approaching two thirds complete- with 62% now harvested, while the corn crop has just crossed the half done marker- with 52% of the crop in the bin. Texas farmers are in the early stages of cotton and soybean harvest- at nine percent and ten percent respectively.
Click or tap hereto review the full state report for Texas agriculture that is dated August 27th.
Check out how pasture and range conditions across the Southern Plains have progressed in this week's report, by clicking here.
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In this week's edition of the Cow/Calf Corner newsletter, OSU Extension Livestock Market Economist Dr. Derrell Peel broke down the numbers in the USDA's latest Cattle on Feed report released last Friday afternoon. The report shows the August 1 feedlot inventory was 11.09 million head, up 4.6 percent from one year ago. This is the largest August on-feed total in the cattle-on-feed data series going back to 1996. The August total is down from the previous month following the typical seasonal tendency of feedlot inventories to bottom in September before climbing in the fourth quarter. The twelve-month moving average of cattle on feed (which removes the seasonality of feedlot inventories) is currently at the highest monthly level since September of 2012.
According to Peel, the biggest surprise if there is one, can be found in the Placements, which were overall higher than anticipated, though some analysts had expected it. Nonetheless, numbers are slightly inflated due to the fact that there was one extra business day in July 2018 compared to last year. What is interesting is that the largest increase in Placements was with cattle weighing less than 700 pounds - these lighter weights accounting for 82.7 percent of the total placement increase. Considering the facts, Peel has deduced that some of the increase in lightweight placements was probably drought-related.
Some of Peel's other findings show that heifer carcass weights continue to grow relative to steers, while at the same time female slaughter is sharply higher, currently. Steer slaughter continues to run slightly below the large year ago levels. but will likely be up year over year for the remainder year and finish with an annual total above last year.
To see the USDA's Cattle on Feed report for August 1, 2018 for yourself or listen to Dr. Peel's complete analysis of this month's report - click here.
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