~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Monday September 13, 2010A service of Producers Cooperative Oil Mill, Midwest Farm Shows and KIS Futures!
-- Congress Heading Back to D.C. for Pre-Election Legislative Work
-- Corn, Cotton and Peanut Production in Oklahoma Jumps Higher Here in 2010
-- USMEF Reports on Meat Exports- Better Than a Year Ago by a Country Mile
-- Texas Cattle Feeders Coming to Oklahoma City in October
-- Smithfield's Larry Pope Loving Better Live Hog Prices
-- Herd Builder Sale Concept Comes to Tulsa Farm Show This December
-- A Little Monday Fun- Go Meat!
-- Let's Check the Markets!
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are proud to have KIS Futures as a regular sponsor of our daily email update. KIS Futures provides Oklahoma Farmers & Ranchers with futures & options hedging services in the livestock and grain markets- Click here for the free market quote page they provide us for our website or call them at 1-800-256-2555. When you call them- ask them about their brand new Iphone App which provides futures quotes for your Iphone.
We are also excited to have as one of our sponsors for the daily email
Producers Cooperative Oil Mill, with 64 years of progress through
producer ownership. Call Brandon Winters at 405-232-7555 for more
information on the oilseed crops they handle, including sunflowers and
canola- and remember they post closing market prices for canola and
sunflowers on the PCOM
website- go there by clicking here.
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Congress Heading Back to D.C. for Pre-Election Legislative Work
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~August recess is coming to a close for Members of Congress, who are expected back in D.C. early this week. Helping greet lawmakers as they return to Washington is a delegation of the American Farmers & Ranchers- who are timing their visit in concert with a group from the Oklahoma State Chamber of Commerce.
A top priority for legislators will be finalizing the appropriations process before the federal government's fiscal year concludes Sept. 30.
The Senate is expected to take up a long-pending bill to incentivize small business growth, including consideration of amendments that would remedy a massive tax reporting problem included in this year's health care reform bill. A large coalition of Ag Groups have asked for action on fixing this issue. Click here for details on this from last week. Some reports also indicate the Senate will take up a $30 billion tax-break extenders bill, which may or may not include an extension of ethanol production incentives.
Members may also consider the merits of a new stimulus proposal offered by President Barack Obama on Monday, which he hopes will inject $50 billion into near-term transportation projects around the country. While the proposal would focus monies on roads, railroad lines and waterways that are largely acknowledged to need attention, crafting a bill that can gain the necessary votes in a pre-election environment may be challenging.
This legislative work period is expected to be relatively short due to upcoming elections with many competitive races. The House of Representatives has set a target adjournment date of Oct. 8, while Senate leaders have yet to set an official target.
Corn, Cotton and Peanut Production in Oklahoma Jumps Higher Here in 2010
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~With the USDA Crop Production numbers that reported a record sized corn and soybean crop nationally come the latest on the spring planted Oklahoma crops- as reported on Friday morning by Uncle Sam.
Production of corn for grain is now forecast at 43.2 million bushels,
unchanged from last month but 29 percent above 2009. An average yield of
135.0 bushels is expected from 320,000 harvested acres.
Click on the link below for the Oklahoma summary of crop production numbers, based on the September first data that moved the Corn futures higher on Friday- and Soybeans lower.
USMEF Reports on Meat Exports- Better Than a Year Ago by a Country Mile
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~July values for U.S. beef and pork exports dipped slightly from the totals achieved in June, but both exceeded year-ago levels with beef posting close to a 40 percent jump over 2009 levels. Based on statistics released by USDA and compiled by the U.S. Meat Export Federation, beef export value surged to 366.3-million dollars in July, pushing the cumulative January-July value to more than 2.19 billion - 25 percent higher than last year's pace. At the same time, pork export value in July was 4 percent higher than last year at 385.8-million dollars, pushing the 2010 cumulative January-July total to 2.74 billion.
USMEF President and CEO Philip Seng says - in every corner of the world, U.S. beef has made tremendous strides this year. And as Mexico begins to show signs of an economic recovery, our product is well-positioned to capitalize because we are still the dominant provider in that market. Seng adds, - if we can move Mexico back into the 'plus' column, the global results will be even more impressive.
As for U.S. pork, Seng says - we are certainly pleased with the rebound in demand, but this is not the time for the U.S. industry to let its guard down in Japan. We cannot afford to be complacent in Japan or rest on our past successes because this is the highest-value pork market that delivers tremendous returns for U.S. producers.
Texas Cattle Feeders Coming to Oklahoma City in October
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The 2010 Convention of the Texas Cattle Feeders will land in downtown Oklahoma City in the latter part of October. TCFA represents feedlots in Oklahoma, as well as Texas and New Mexico- the organization is based in Amarillo.
Convention is Sunday, Oct. 24 through Tuesday, Oct. 26 in Oklahoma City, and the opening day will feature a Sports Lounge and Texas Hold 'Em Poker Tournament from 2 p.m. to 6 p.m. Come by and play some cards, watch a football game or just mingle with friends. Members of the Beef-PAC Feeders 500 Club will also be invited to attend a reception Sunday from 6:30 p.m. to 8:30 p.m. at the historic Skirvin Hotel.
The work that will get done will include a great set of speakers that
will be in OKC on that Monday and Tuesday. Topics to be covered
Click on the LINK below for more details on the 2010 meeting- the TCFA always runs one of the base cattle industry meetings anywhere- and it's great that they will be based in Oklahoma City for 2010.
Smithfield's Larry Pope Loving Better Live Hog Prices
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Smithfield Foods reported profits in line with analysts' expectations as reduced pork supplies met strong global demand for pork and despite rising raw material costs.
The Smithfield, Virginia-based company reported a profit of $76.3 million, or 46 cents per share, in its first fiscal quarter of 2011, ended Aug. 1, compared with last year's first quarter loss of $107.7 million, or 75 cents a share.
Smithfield announced its Hog Production segment now consists solely of U.S. hog production, with international operations reported separately. Operating margins in the segment improved to $17 per head in the quarter, an improvement of more than $53 per head compared to losses in the same period a year ago. If you do the math- that means they were losing $36 PER HOG at this point in 2009.
Fewer hogs marketed increased live hog market prices 38 percent to $58
per hundredweight compared to $42 per hundredweight last year.
Pre-interest raising costs decreased to $54 per hundredweight from $58 per
hundredweight in the prior year. Pope said he expects hog production to
continue to be volatile due to grain cost fluctuations he attributed to
corn-based ethanol. He said Smithfield has cut its exposure to the hog
side of the business and does not think it will be as profitable as in the
Herd Builder Sale Concept Comes to Tulsa Farm Show This December
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma Farm Bureau is sponsoring the Herd Builder Private Treaty Sale during the annual Tulsa Farm Show, which is presented by Midwest Shows, Inc.
The sale is set for Dec. 9-11 at the Tulsa State Fairgrounds in Tulsa.
An expansion of the popular bull sale, this private treaty sale is open
to all breeds. It will include heifers, bred heifers, cow-calf pairs and
more offerings. The sale is open to everyone attending the farm show for
all three days of the event.
Cattlemen interested in offering animals should call Doye at
A Little Monday Fun- Go Meat!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Sometimes when you wonder through Facebook or Twitter- you run across a link that makes you smile- and this early this morning was no exception. As we glanced at page of one prominent beef lady here in the state of Oklahoma- we came across a link for the Go Meat commercials of Hillshire Farms. With all the anti meat garbage that is our there- it's nice to have a little fun on the positive side of the street.
Here's the text for your Monday morning-
Just reading that does not do the video justice- we have the link from Youtube below- go and smile and carry the chant with you the rest of today- GO MEAT!!
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We also invite you to check out our website at the link below to check out an archive of these daily emails, audio reports and top farm news story links from around the globe.
Let's Check the Markets!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We've had requests to include Canola prices for your convenience here- and we will be doing so on a regular basis. Current cash price for Canola is $7.85 per bushel, while the 2011 New Crop contracts for Canola are now available are $8.40 per bushel- delivered to local participating elevators that are working with PCOM.
Here are some links we will leave in place on an ongoing basis- Click
on the name of the report to go to that link:
God Bless! You can reach us at the following: