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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
Friday, September 14, 2018
USDA Releases Details on Trade Damage Estimate Calculations in Assessment of Tariff Retaliations
The Department of Agriculture Thursday released details of the trade aid package calculations for payments, a method previously unknown and questioned by some ag sectors. As the Trump Administration talked with lawmakers on the trade package, Agriculture Secretary Sonny Perdue released a "detailed accounting" of how USDA calculated estimated damage from trade disruptions.
Perdue says the Chief Economist office of USDA developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by Canada, China, the European Union, Mexico, and Turkey to set commodity payment rates and purchase levels in the trade mitigation package announced by USDA earlier this month. Perdue says USDA used the same approach often used in World Trade Organization trade dispute cases.
The full description of the Trade Damage Estimation for the Market Facilitation Program and Food Purchase and Distribution Program is available on the website of USDA's Office of the Chief Economist.
Click here to continue reading from the original release published by the USDA yesterday for more details about the calculations used.
Oklahoma AgCredit supports rural Oklahomans with reliable, consistent credit. Part of the 100 year old Farm Credit System, Oklahoma AgCredit offers variable and fixed interest rates to help you manage your budget.
Talk to a local team who understands agriculture. Talk to Oklahoma AgCredit. Financing rural Oklahoma. Equal housing lender.
Drought is on the decline in Oklahoma, occurring rapidly in places, though not as fast as some might hope in southwest Oklahoma and one centralized area covering Osage County in the northeast which remain in the worst condition. As of Thursday's Drought Monitor report release, only 17 percent of the state is currently affected by drought- the lowest coverage since the drought first began to develop in November of last year. State Climatologist Gary McManus says that number could fall even more in the near future with scattered chances for moisture included in the extended forecast.
Right now, though, planting conditions for farmers considering their fall crops has improved considerably with ample amounts of both top and subsoil moisture. However, McManus suggests farmers should take advantage of those favorable conditions sooner than later as we enter a temporary dry spell that could threaten to reverse the quality of the current planting environment. Luckily, though, we are expecting an El Nino year as opposed to a La Nina, which bodes well for a wetter than normal cool season.
Check out this week's Mesonet Ticker report or for a closer look at the Drought Monitor map released on Thursday, September 13, 2018, click here.
| This Week on SUNUP - OSU's Kim Anderson Breaks Down the Numbers in Latest WASDE Report
The Latest World Agriculture Supply and Demand report published by the USDA Wednesday, predicts the second-largest corn crop for the United States this year and a record soybean crop. Oklahoma State University Grain Market Economist Dr. Kim Anderson breaks down the numbers in this week's report during his next appearance on SUNUP with host Dave Deeken.
According to Anderson, corn production is forecast at 14.82 billion bushels, up 241 million from last month on an increased yield forecast. The outlook predicts larger production, increased domestic use, greater exports, and higher ending stocks. The season-average corn price received by producers is projected ten cents lower with a midpoint of $3.50 per bushel.
Meanwhile, Anderson says U.S. Soybean production is projected at a record 4.6 billion bushels, up 107 million on a record yield forecast of 52.8 bushels per acre. The season-average soybean price is forecast at $7.35 to $9.85 per bushel, down $0.30 at the midpoint.
In addition, the wheat supply and demand estimates are unchanged from last month, and the season average farm price range is unchanged at the midpoint of $5.10 per bushel and the range is narrowed $0.20 per bushel to $4.70 to $5.50.
You can watch their visit tomorrow or Sunday on SUNUP- but you can listen to Kim's comments right now by clicking here to hear his complete analysis of the impacts this report will have on the markets and see what else is on the lineup for this week's episode.
U.S. Senator Pat Roberts, Chairman of the Senate Committee on Agriculture, Nutrition, and Forestry, held a hearing on Thursday entitled, "Perspectives on U.S. Agricultural Trade," during which he remarked that the continued success of the entire food and agriculture value chain is completely dependent upon and correlated with the strength of our nation's trade portfolio.
"I hear from producers across the agriculture industry, and across our food value chain, about how trade policies impact their prices, decisions, and livelihoods," said Chairman Roberts, highlighting the impact recent international trade disputes have had on the American agriculture industry. "These are not new concerns. The U.S. has long had to work to overcome barriers to trade around the world"
While Roberts agreed that our trading partners needed to be held accountable, he also shared his concern that recent protectionist actions by the Administration have caused uncertainty and unpredictability for the agriculture industry. Roberts stated that the longer these issues go on without resolution, the chance of losing long-term market access to some of our largest trade partners grows. He added that this prospect was simply not a situation that the rural community is prepared to tackle, already struggling from depressed economic conditions.
To watch the hearing or to read the Chairman's complete testimony, click here.
Midwest Farm Shows is proud to produce the two best Farm Shows in the State of Oklahoma annually- the Tulsa Farm Show each December and the Oklahoma City Farm Show each April.
They would like to thank all of you who participated in their 2018 Oklahoma City Farm Show.
Up next will be the Tulsa Farm Show in December 2018- the dates are December 6th, 7th and 8th. Now is the ideal time to contact the Midwest Farm Show Office at 507-437-7969 and book space at the 2018 Tulsa Farm Show. To learn more about the Tulsa Farm Show, click here.
Mystery Lurks as Seasonal Lows in Cull Cow Market Arrive Early- LMIC's Jim Robb Offers This Advice
In recent days, cull cow markets have taken on a significant amount of weakness in profitability. Jim Robb of the Livestock Marketing Information Center says this annual weakness has appeared much earlier in the year than it typically does generally around the 4th Quarter.
"It seems like a complicated story and one we're trying to get our arms around to be honest. If we look on a national basis - in August, we had a pretty big drop down on a carcass basis from $122 to about $116," he said. "That's a very strong drop and one that's come much earlier than normal."
Year-over-year, cull cow markets are down by approximately 19 percent. That is in contrast to the meat market that is behind the cull market, which is only down about 7 percent. The price reduction for cull cows is especially impacting the Southern Plains which generally runs about 5 percent below the national basis. Currently, though, it is 17 percent below the national average. Robb says the effects of widespread drought in the region probably accounts for much of that. Although still from a very low position, Robb says the good news is that prices have seemed to stabilize over the past few weeks. He believes markets will begin to rebound once the bulk of the peak numbers of culled cows now entering the pipeline can be processed. In anticipation of an eventual seasonal rally at the end of this period, Robb advises producers with available feed resources to consider holding on to any culls they might have and continue to put some added weight on them before selling them to take advantage of prices down the road.
"So, this is a little bit harder of a puzzle to put together. We think it's partly because of the larger slaughter levels," he said. "So, much of it is just the supply as we have a lot of drought areas in the US and maybe a little bit earlier culling due to Mother Nature and grass conditions, etc."
Listen to Robb's analysis of the current cull cow market and what advice he offers to get top dollar for your culls, on yesterday's Beef Buzz - click here.
| Noble Research Institute to Host Technical Training Focused on Methods of Control for Feral Hogs
The Noble Research Institute will host a Feral Hog Management Training from 8 a.m. to noon, Thursday, Oct. 4, at the Noble Research Institute Pavilion to equip landowners with the proper tools and knowledge of how to control and protect their property from the damage of hog populations that might appear.
Participants can expect hands-on training, discussion on the future of hog control, and opportunities to share successes and failures with fellow trappers and researchers. Noble consultants and specialists like Josh Gaskamp, will be on hand to demonstrate conventional, innovative and integrated strategies to control this invasive species. There is no registration fee, but preregistration is requested. For more information and to register, click over to the calendar page on our website.
| This N That- Farm Bureau's YF&R Host State Fair Judging Contest, Pollard Female Sale Set for Saturday and DairyMAX Ice Cream Contest Sunday
Over 1,600 4-H and FFA members competed on Thursday- the opening day of the 2018 State Fair of Oklahoma- they were a part of the Oklahoma Farm Bureau's YF&R Livestock Judging Contest-
Top Teams at the Contest include:
Senior FFA Division: Sentinel Senior
Senior 4-H Division: Central High 1
Junior FFA Division: Lindsay Orange
Junior 4-H Division: Kay County 2
Top Individuals include:
Senior FFA Division: Baylor Bonham, Newcastle
Senior 4-H Division: Riley Scott, Central High
Junior FFA Division: Seth Tucker, Lindsay
Junior 4-H Division: Hallie Herrel, Minco
All the results can be found by clicking or tapping here.
On Saturday, Dr. Barry and Roxanne Pollard will host Pollard Farms' 21st Annual Female Production Sale & Mature Cow Herd Dispersion- tomorrow, September 15, 2018 at the Ranch near Waukomis, Oklahoma.
During the sale, 350 head will sell as 250 lots featuring Pollard's youngest and freshest genetics as well as every 2014 born and older non-partnership female in the Pollard herd and over 50 2015 born cows. A select group of show heifer prospects, proven donors and spring and fall-calving heifers and cows that are "bred for the backdrop" will also be featured.
Sale catalogs available upon request and online at pollardfarms.com. Videos of many of the animals to be sold Saturday are also now on the website as well.
One of the great events that we always look forward to the first weekend of the State Fair of Oklahoma is the DairyMAX Cow to Cone Homemade Ice Cream Contest- it happens this coming Sunday afternoon in the Creative Arts Building- and this year our own Carson Horn will be representing us- riding for the Radio Oklahoma Ag Network Brand as one of the judges for the 2018 renewal.
All the fun and eating starts at 2:00 PM- you can buy a plate and get samples of all the entries and judge them for yourself- and the winner of those that are sampling will be the People's Champion.
|Our thanks to Midwest Farms Shows, P & K Equipment, Livestock Exchange at the Oklahoma National Stockyards, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, the 2018 State Fair of Oklahoma, 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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