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mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
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for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
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Your Update from Ron Hays of RON
Friday, September 28, 2018
Ag Groups Cheer President Trump's Announcement Regarding Japan's Willingness to Talk Trade
The United States and Japan announced Wednesday the two nations would seek a free trade agreement. President Donald Trump and Japan's Prime Minister Shinzo Abe announced the two nations will soon begin negotiations. Japan has previously feared a bilateral agreement, and instead urged the U.S. to rejoin the Trans-Pacific Partnership. Japan is thought to block opening of its agricultural markets to the U.S. through a two-nation pact, and instead opt for TPP.
Following the announcement, leading figures and organizations within the agricultural community shared positive remarks expressing their views on this development in US trade relations that comes at a time of economic hardship, specifically for the US ag industry.
American Farm Bureau Federation President Zippy Duvall made the remark that not only will this deal foster better trade relations with Japan, one of the US's biggest customers, but might improve relations with other nations as well.
"...this mutual agreement will address key trade issues that should create additional opportunities down the road and could lead to wider cooperation at the global level that includes the European Union," Duvall stated. The United States is the world leader in agricultural exports and this is a key development for U.S. farm exports at a time when we desperately need this kind of good news."
"NCBA has been a strong advocate for a bilateral trade deal between our nations and looks forward to working closely with the Trump Administration to secure increased market access for our industry. We congratulate President Trump and Prime Minister Abe for taking this important step in our trading relationship.
National Cattlemen's Beef Association President Kevin Kester released a statement that expressed his support of Trump's trade agenda.
"NCBA has been a strong advocate for a bilateral trade deal between our nations and looks forward to working closely with the Trump Administration to secure increased market access for our industry," Kester said. We congratulate President Trump and Prime Minister Abe for taking this important step in our trading relationship."
National Corn Growers Association President Kevin Skunes also weighed in stating that he was hopeful the process to begin such negotiations that would result in a bilateral agreement between the US and Japan might happen soon.
"Since withdrawing from the Trans-Pacific Partnership, NCGA has urged the administration to re-engage Japan in negotiating a trade agreement," Skunes said. The announcement that talks will begin is welcome news to American corn farmers."
In addition, the National Pork Producers Council strongly praised the Trump administration following the announcement.
"This is fantastic news for America's pork producers," said NPPC President Jim Heimerl, a pork producer from Johnstown, Ohio. "Japan has been our top export market for years, so it's good that the administration wants to solidify the relationship with that important economic and geopolitical ally."
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NCBA's Kent Bacus Remarks on US-Japan Bilateral Trade Deal and Offers Outlook for Process Moving Forward
Wednesday brought good news for the US cattle industry and really all of agriculture with an announcement from the White House that Japan's Prime Minister Shinzo Abe and President Donald Trump have come to an agreement to pursue a bilateral trade deal between the two nations. Kent Bacus, director of international trade and market access for the National Cattlemen's Beef Association spoke with us about the news that has been long hoped for since the President pulled the US from the Trans-Pacific Partnership negotiations upon taking office.
"It is very exciting news. They are going to try to move as quickly as possible. Both leaders still have to go back and get further permissions from their governments, but it looks like we could see those negotiations start pretty soon," Bacus said. "For the US beef industry this is a very welcome development, because Japan is our biggest export market."
According to Bacus, Japan accounts for nearly $2 billion in trade for the industry representing roughly one quarter of the overall export value of beef cattle at approximately $75 per head. Bacus says the US and its competitors at present are each subject to a 38.5 percent tariff in Japan's marketplace. However, many of those competitors are members of the TPP and will see their tariff rates ratchet down in the near future to just nine percent, while the US remains at 38.5 percent, putting American producers at a stark disadvantage. The prospect of a bilateral deal though gives hope that the US will be able to secure equally favorable terms or even better perhaps. While Japan has been hesitant to enter into a bilateral with the US, holding out hopes that the US would rejoin the TPP, Abe's reelection this past allowed the Prime Minister the certainty he needed to open this dialogue. Bacus says the only problem now is our own elections here at home and how that will play out for the Republican led government. For now, though, the process is just beginning.
"So, we've got a long way to go to get the ball rolling, but this is a very important development for us," Bacus said. "I think this shows that they're willing to sit down and work with the US and develop a strong economic partnership with the US. This is a very positive development and something we strongly support."
Listen to Bacus and I discuss this new development in US trade relations and the current outlook on talks moving forward, on today's Beef Buzz - click here.
Drought continues to decline in Oklahoma, now covering less than a fifth of the state. This week's Drought Monitor report reflects that roughly half of the existing drought area in Oklahoma was wiped out since the previous report last week. However, drought is expected to improve even more next week as the latest rains occurred after the cutoff for this week's report. Although some areas in the northeast part of the state remain somewhat dry, State Climatologist Gary McManus says this month will go on record as the wettest September for Oklahoma since records began in 1895.
Here's a look at this week's Drought Monitor Map, below.
For a closer look at this week's Drought Monitor Map or to review McManus's latest edition of his Mesonet Ticker report, click here.
In its ongoing efforts to realign U.S. trade policy, the Trump administration is considering putting duties on autos and auto parts under the 1962 Trade Expansion Act's Section 232 for national security reasons. The NPPC opposes this action asserting that it would likely prompt retaliation from some of American agriculture's biggest trading partners, leading to catastrophic financial harm to farmers. The NPPC submitted that warning yesterday to the Senate Committee on Finance.
Referring to the hardship that has been cast on farmers as a result of trade tensions and sanctions against China, NPPC President Jim Heimerl stated that, "We can't afford to take another hit. If we do, a lot of farmers could go out of business, and consumers will pay a lot more for food."
An estimate from Iowa State University economists suggest an initial 25 percent Chinese tariff on U.S. pork caused hog futures to drop by $18 per pig from March through May, or $2 billion industrywide on an annualized basis. These tariffs were followed by more levies from China and the US pork industry's No. 2 market, Mexico. NPPC expects this manner of retaliation to happen again if these auto tariffs are imposed, since all those nation's affected are US pork customers.
"Tariff retaliation from any of those countries would be bad for us," Heimerl said, "but if we get duties from Canada, Japan, Mexico or South Korea - or all of them - U.S. pork and other U.S. farm exports would be dealt a devastating blow."
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.
| Not Much Movement in Commodity Markets Now, But Kim Anderson Says Don't Expect it to Continue
Producers have entered a time of the year when crop prices see very limited movement in the markets. OSU Extension Grain Market Economist Dr. Kim Anderson spoke to the recent market activity in an interview with SUNUP Host Dave Deeken, that will air this weekend. According to him, the inactivity in the markets can be attributed to the fact that the industry has gained a firm handle on the size of the crops globally. However, he says the data does continue to be adjusted as further information comes in.
Anderson says it will take increased export demand for crops as well as lower worldwide production, in order to burst this bubble and spark upward movement in the market.
Anderson advises producers to continue to carefully watch for market signals prompted by Russian crop production as well as US and global production of corn and soybeans.
You can watch their visit tomorrow or Sunday on SUNUP and see what else is on the lineup for this week's epidose by clicking or tapping here.
| Farm Bureau Calls Upon Congress to Reevaluate Protections Under the Endangered Species Act
California Farm Bureau Federation President Jamie Johansson urged Congress to take a second look at the Endangered Species Act, this week, implying that the outdated protections of certain species are in need of modernization so as to lift the unnecessary burdens they carry on agricultural stakeholders.
Testifying on behalf of the American Farm Bureau Federation, the California olive and citrus grower told members of the House Committee on Natural Resources that an evaluation is needed of how the Endangered Species Act works, and how it can be improved to better work with farmers and other landowners.
"We all value protecting species from extinction." Johansson said. "Our disagreements are not about the goal of species protection, but the best way to achieve that goal. We are not here to question the Act's fundamental goal of striving to conserve species from extinction. This goal will not and should not change. What we grapple with today is not whether we should conserve species from extinction, but how we should conserve species from extinction."
In his testimony, Johansson remarked that in order to "actually take care of species on the land, we need to work with, not against, the people on the land."
Continue reading about Mr. Johansson's argument for ESA modernization and review a copy of his complete written testimony from yesterday's hearing, by clicking here.
|This N That- Dale Moore Elevated, Livestock Auctioneers Converge on Holdenville and Tulsa State Fair Rolling
At lunch yesterday, I had the privilege to dialogue with the Board members of the Oklahoma Farm Bureau- sharing our history in covering agriculture in Oklahoma since 1977- and we talked about what was, what is and what may be coming in the world of media as it relates back to farmers and ranchers getting information important to them as well being able to tell the modern ag production story. I appreciate the invite from Rodd Moesel- and I enjoyed the time greatly.
Rodd passed along one bit of AFBF news to the board while I was there- and I'm pleased to pass it along to you- the word from Washington that Dale Moore, who has headed up the Public Policy efforts of Farm Bureau in recent years- was named Acting Executive Vice President after Julie Anna Potts left to become CEO of the North American Meat Institute. Moesel told the OkFB board that the acting part of the title has been removed- and Moore is now the Executive Vice President of AFBF. While no release has been issued yet- the online Staff Directory confirms it. Moore is a native of Kansas- was the Legislative guru for the Cattle industry for four years before becoming Chief of Staff at USDA when George W Bush was in the White House from 2001 to 2009.
Thirty three auctioneers will be selling cattle and hoping to be one of ten price callers selected to make it Tulare, California next June for the World Livestock Auctioneer Championship. This happens Monday at 11 AM at the Holdenville Livestock Market in Holdenville, Oklahoma.
This is the midwest regional- one of three that will feed into the Tulare finals.
Three of the competitors are Oklahoma auctioneers- Jeremy Miller of Fairland, Dustin Smith of Jay and Chas Tillman of Swink.
Details of the event are available here.
There are two other regionals later in the fall- in Athens, Georiga and Delta, Colorado.
The 2018 Tulsa State Fair is underway- we have livestock schedule for you to see on a day by day basis in our calendar- click here to jump to the listings that run today thru October 7th.
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