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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 last posted Wednesday 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
Monday, April 22, 2019
Happy Earth Day!!!
OKFB's Ron Justice Monitors Progress of Concerning Water Bills as Important Deadline Approaches
Next week is the final deadline in the 2019 Oklahoma Legislative Session for state legislators to have their bills heard and through their respective committees in the opposite chambers. This is a very important stage in the session, according to Ron Justice, Director of Public Policy at Oklahoma Farm Bureau. In an interview this week with our Associate Farm Director Carson Horn, he explained that those bills that do not make it through the process will essentially go away for this particular session.
As that deadline approaches, Justice and his team at Farm Bureau will be watching closely to see how several bills move through that process - two in particular regarding water issues. One is H.B. 1403 which deals with in-stream flow, the other, H.B. 1048, has to do with landowners' entitlement to retain a property's water rights when eminent domain is enacted on the land.
According to Justice, "Those are still moving through the process... how far they go this year, I don't know, because anytime you're talking about water issues, there's always a large concern."
Justice also made mention that a bill we've been following, H.B. 2373, was signed by Governor Kevin Stitt. This bill, now law, caps nuisance suits at $250,000. With a growing culture of sue and settle cases frivolously levied against agribusinesses in this country for easy profiting on the pretense of nuisance, Justice says this bill will prevent those unfounded cases from happening and protects farmers and ranchers from being such an easy target.
Listen to Carson's full conversation with Justice to hear his complete legislative update on those issues and more, by clicking or tapping here
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| Cattle on Feed Up 2% - OSU's Derrell Peel Breaks Down the Numbers in this Month's USDA Report
The USDA released its Cattle on Feed report for the April 1, 2019 on Thursday afternoon. We caught up OSU Extension Livestock Market Economist Dr. Derrell Peel for his reaction to the numbers in this report, which he says was by and large well-anticipated.
According to the report, cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on April 1, 2019. The inventory was 2 percent above April 1, 2018. This is the highest April 1 inventory since the series began in 1996. Placements in feedlots during March totaled 2.01 million head, 5 percent above 2018. Net placements were 1.95 million head. Marketings of fed cattle during March totaled 1.78 million head, 3 percent below 2018.
Peel says the numbers in this report are about where you would expect them to be in a cyclical sense and strongly reflect the challenges producers faced during the first quarter of the year related to weather. Given the lengthy duration of those weather conditions, he believes we will continue to see those impacts for at least a few more weeks until the effects of milder spring and summer weather evens out feeding and growing conditions.
To hear his complete analysis of this report, or to view the report for yourself, click here to jump to Friday's Beef Buzz with Dr. Peel.
| ITC Report Underscores Importance of NAFTA and Passing USMCA for US Agriculture
Last week, the U.S. International Trade Commission (ITC) released its report on the economic benefits of the United States-Mexico-Canada agreement (USMCA). Several commodity organizations weighed in after the report's release to offer their reactions.
Seemingly disappointed in its results, NAWG President and Lavon, Texas farmer Ben Scholz insinuated in his remarks
that the report doesn't fully capture the importance of USMCA.
"The ITC report is not reflective of vast benefits USMCA will bring to agriculture," he said. "A vote for USMCA means more jobs for Americans, stronger export markets for farmers to sell their crop, and billions of dollars added to the economy."
According to Scholz, the USMCA captures the original intentions of NAFTA while improving some of the provisions for wheat growers. He contends that it retains tariff-free access to imported U.S. wheat for our long-time flour milling customers in Mexico. Furthermore, he says the USMCA makes important progress towards more open commerce for U.S. wheat farmers near the border with Canada by working to fix the broken grain grading system and making trade more reciprocal along the U.S.-Canadian border.
National Corn Growers Association (NCGA) President Lynn Chrisp echoed Scholz's comments
, remarking that "the ITC report released today doesn't fully capture the economic benefits of trade with Canada and Mexico, nor the improvements to trade rules in USMCA that benefit agriculture."
According to Chrisp, NAFTA helped American corn growers export $3.2 billion in corn and corn co-products to Mexico and Canada in 2016 alone. He asserts that the USMCA will build upon this partnership.
Additionally, Brian Kuehl
, Co-Executive Director of Farmers for Free Trade, the bipartisan coalition supported by American ag commodity groups, stated supportively of the agreement
that "The true benefit that USMCA delivers for American farmers is certainty and stability.
"Especially right now, American farmers need a victory," he said. "USMCA will guarantee that their most important export markets remain open for business and free from red tape."
| Ag Banks Make Adjustments as Lending Remains Elevated, According to the Federal Reserve Bank
Demand for agricultural credit remained high and loan volumes continued to increase in the first quarter of 2019, according to the Federal Reserve's Agricultural Finance Databook.
To meet growing demand for financing, lenders, especially small, agricultural banks, increasingly have used loan participations and Farm Service Agency loan guarantees. Increased levels of loan guarantees and participations at small, agricultural banks relative to all banks could be an indication of elevated financial stress in the farm sector.
Despite ongoing demand for farm loans and adjustments to lending portfolios, delinquency rates on farm loans have remained low. Interest rates on farm loans continued to rise, but farm real estate values remained relatively steady through the end of 2018. As weaknesses in the overall farm economy have persisted, risks to the outlook for farmland include slightly higher interest rates and underlying supply and demand fundamentals of farm real estate markets.
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Kim Anderson Says Price Forecasts Not Great for Commodities Even Though the Weather Forecast Is
Commodity prices remain low but according to OSU Grain Market Economist Dr. Kim Anderson, there is a possibility that prices might climb a little once traders shake off their short positions. He also compares the economics of summer crops and offers some advice on where to find profit in those commodities as well.
According to Anderson's report, wheat in Oklahoma can currently be forward contracted for harvest delivery at approximately $4.25. At present, the May Kansas City contract price is at $4.18. Compared to the trading range observed over the past four years ($3.70 to $6.00), that price is near the low-end of that range. Anderson says the long-term trend is down, while the short-term trend in wheat prices is down to maybe sideways as traders' commitments are short by 54,000 contracts.
"A large short position like that, I think that's good news," Anderson said. "When they start getting out of those short positions maybe they'll bring that price up a little bit."
Compared to summer crops, the economics as it stands, do not look very good either unless producers can guarantee good production. Anderson says, given the current market, if producers can offset the low prices with increased yield they may be able to profit from a summer crop.
We wrapped up last week with the final contestant in the Agribusiness category of our ongoing coverage of the 2019 Oklahoma FFA Star Award Finalists. Colten Spears of the Atoka FFA Chapter, who represents the Southeast Area as its Star in Agribusiness, runs a successful lawn care business with his step dad. Dealing with his clients is something he really enjoys and according to him, great customer service is what he strives for.
Colten's business began with his yard plus a neighbor's and has since expanded from there with further plans of expansion after graduation. He wants to reach the surrounding counties to his southeast Oklahoma operation and hopefully keep growing from there.
You can hear our entire conversation and read more about Colten's agribusiness venture and those of all the contestants we've featured, by visiting the Blue-Green Gazette
on our website. Be sure to check back each day this week as we feature the contestants of our last category to cover - Ag Production. As we approach the State FFA Convention, we of course wish all our finalists the best of luck.
| Oklahoma State FSA Director Scott Biggs Contends on Farms and Ranches, Every Day Is Earth Day
Happy Earth Day from myself, and Scott Biggs. Click here to read his op-ed on the USDA's Farm Service Agency celebration of Earthday and this year's theme: "Protect Our Species."
"At USDA, we celebrate Earth Day 2019 by offering big thank-yous to farmers and ranchers here in Oklahoma for all they do. Every day we see their efforts to conserve natural resources while producing food, fiber and fuel for people in their communities and around the world. They are doing what needs to be done to make sure we all enjoy the benefits of clean and plentiful water and healthy soils, ecosystems and wildlife habitat.
"USDA offers a wide array of Farm Bill programs to help Oklahoma producers make wildlife-friendly improvements to croplands, grazing lands and working forests, as well as benefit agricultural operations. Programs include the Conservation Reserve Program, the Environmental Quality Incentives Program, Conservation Stewardship Program and the Agricultural Conservation Easement Program. USDA also offers free conservation advice as well and financial assistance to help implement conservation practices. "
Find your nearest FSA or NRCS office at farmers.gov/service-locator.
|Big Week on the Calendar- Canola and Wheat Field Days, Hemphill County Beef Conference and More
The 2019 Canola Spring Field Days will be happening this week- with stops in Lahoma and Pond Creek tomorrow while the Miami stop will be happening on Thursday- details are available here for the Lahoma and Pond Creek event- and the Miami event details are here.
Also kicking off this week- the 32 Wheat Field Days being put on by OSU Extension and being supported by the Oklahoma Wheat Commission- First up of those field days is the Walters stop on Tuesday, while Sentinel and Chickasha are planned for later in the week. Click here for our calendar page and review the full list of locations that we have posted in April and May.
We have been recommending that our cattle producers think about making a run across the border into the Texas Panhandle and checking out the Hemphill County Beef Cattle Conference in Canadian- Dr. Temple Grandin is their keynoter- but the two day conference has a lot more- click or tap here for details about the Conference and click here for a Beef Buzz feature that we did with Andy Holloway- the Ag Extension Educator who is the mastermind behind this event that draws producers from multiple states. This Conference is happening tomorrow and Wednesday.
Also this week- more Town Hall meetings with Oklahoma Congressman Frank Lucas, the immediate Past Chairman of the US House Ag Committee- those details are in our calendar page as well.
|Our thanks to Midwest Farms Shows, P & K Equipment, AFR Insurance, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Herb's Herb Hemp Farm, 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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