~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Monday November 29, 2010A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- Catching up on Eastern Livestock After the Holidays
-- Senate Could Debate Food Safety Today
-- Native Americans Urged to sign up for Keepseagle
-- Death Tax News Conference Scheduled for Tomorrow
-- Deere & Co. Reports Better Earnings
-- Cattle Conferences Set for This Week and Next Week in Northwest Oklahoma
-- Free Horse Training Session With Craig Cameron at the 2010 Tulsa Farm Show
-- 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 pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update- click here to go to their AFR web site to learn more about their efforts to serve rural America!
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Johnston Enterprises- proud to be serving agriculture across
Oklahoma and around the world since 1893. One of the great success stories
of the Johnston brand is Wrangler Bermudagrass- the most widely planted
true cold-tolerant seeded forage bermudagrass in the United States. For
more on Johnston Enterprises- click
here for their website that features their grain, ports and seed
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Catching up on Eastern Livestock After the Holidays
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~One thing is for certain- cattle producers that hold hot checks from Eastern Livestock had a little less to be thankful about than the rest of the cattle business during Thanksgiving 2010. The unknown that is still being unraveled is why Eastern fell apart- and what laws were broken along the way that might result in some jail time for Tommy Gibson or others responsible.
As of Nov. 16, USDA's Grain Inspection, Packers and Stockyards
Administration documented returned checks totaling $81 million; total
transactions are estimated at $130 million. The folks watching this case
believe that number could go higher.
One of the producers to not get paid is C.W. Haines, of Glens Fork, Ky.
He told the Farm and Dairy Newspaper based in Ohio that he sold five
heifer calves totaling $3,565 to Eastern Livestock directly Nov. 2. Each
of the cattle weighed between 725 pounds and 1,090 pounds.
He received a certified letter in the mail dated Nov. 5 and received
Nov. 10 from USDA GIPSA, stating they have received information indicating
he had not been paid for livestock. The letter also contained what proof
was needed to submit a claim to the bond Eastern Livestock
Senate Could Debate Food Safety Today
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Congress gets back to work on this Monday following the Thanksgiving Holiday recess. When business resumes, Senate Majority Leader Harry Reid promises, - we're going to finish - the Food Safety Modernization Act. The act would give the Food and Drug Administration more authority to recall tainted products and regulate imported food. It also would increase inspections of food processors and require producers to follow stricter standards for keeping food safe.
The Senate version could be the one bill passed by this lame-duck session. The House passed its version of food safety legislation in July of 2009. If the Senate does pass its bill, it will have to go to conference committee with the House bill. The question is, when would that Conference Committee meet?
Senate Ag Committee Ranking Member Saxby Chambliss is working to
restore what he believes is the original intent of the bill - to provide
the Food and Drug Administration more focus and additional resources to
accomplish its mission.
Native Americans Urged to sign up for Keepseagle
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Agriculture Department is reaching out to Native American farmers who may be eligible to receive compensation under a $760 million discrimination settlement with USDA. The agency purchased radio ads in 23 states last week to get the word out about the terms of the Keepseagle v. Vilsack settlement agreement announced last month by the Obama administration and tentatively approved by a DC federal judge earlier this month. Oklahoma was one of those 23 states- and the ads begin airing for the next several weeks today on the Radio Oklahoma Network.
The lawsuit claimed the Department discriminated against Native Americans by denying them equal access to farm loans and loan servicing from 1981-1999. Native American borrowers included in the class-action settlement "could get a payment of $50,000 or more plus loan forgiveness on certain USDA loans," an announcer says in the spot. A Judgment Fund maintained by the Departments of Justice and Treasury will fund any monetary awards provided under the settlement. USDA is providing up to $20 million to administer it.
Click on the LINK below for the website that tells more about this possible settlement and, if you are a Native American that qualifies, how you can be paid under the settlement.
Death Tax News Conference Scheduled for Tomorrow
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Ten major agricultural organizations will gear up for the continuation of the lame duck session with a press conference next Tuesday to stress the importance of meaningful estate tax reform. The event is scheduled for noon central time in the Zenger Room at the National Press Club in Washington. It will also be available to reporters via teleconference and anyone will be able to take a look at what is going on via the NCBA Blog- Beltway Beef. They plan to stream the event live.
Participants scheduled to be at the conference are from the National Association of Wheat Growers; American Farm Bureau Federation; American Soybean Association; National Cattlemen's Beef Association; National Corn Growers Association; National Cotton Council; National Farmers Union; National Milk Producers Federation; National Pork Producers Council; and Public Lands Council.
Many of the groups scheduled to participate in the press event next week signed on to a letter sent to Congress earlier in the month supporting permanently raising the estate tax exemption to no less than $5 million per person and reducing the top rate to no more than 35 percent. Those groups also supported provisions to index the tax to inflation, provide for spousal transfers and include a stepped-up basis.
Deere & Co. Reports Better Earnings
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Deere & Co., the world's largest maker of agricultural equipment, posted a profit last Wednesday for its fiscal fourth quarter in contrast to a loss a year ago. The company cited improved conditions on U.S. farms but weakness in construction equipment sales. The company believes, - farmers in most of the company's key markets are experiencing solid levels of income due to strong global demand for agricultural commodities, low grain stocks in relation to use, and high prices for crops such as corn, wheat, soybeans, sugar and cotton.
For next year Deere is forecasting only flat farm machinery sales in the United States and Canada because of production limits and the pollution control regulations. Deere CEO Samuel Allen said in a statement that conditions continued to be positive in the U.S. farm sector, including increased sales of larger equipment, but European agricultural markets remained soft.
The Moline, Illinois, company reported net income of 457.2-million dollars, or $1.07 per share, for the quarter ended October 31 compared with a net loss of 222.8-million, or 53 cents per share, a year ago. Revenue rose 35 percent to 7.2-billion dollars. For the full year, Deere earned 1.865-billion dollars, or $4.35 per share. Revenue rose to 26-billion from 23.1-billion dollars a year ago.
Cattle Conferences Set for This Week and Next Week in Northwest Oklahoma
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Cattle producers in northwest Oklahoma can mark their calendars for the Oklahoma Beef Cattle Conference - Managing Cost to Improve Ranch Profitability.
The conference will take place in four locations. The first meetings will be on Dec. 2 in Alva at the Woods County Fairgrounds from 10:00 a.m. to 2:00 p.m. and in Woodward at the USDA Southern Plains Range Research Station from 4:00 p.m. to 8:00 p.m.
Dec. 6 is the date for the next set of meetings which will take place
in Enid at the Garfield County Extension Center from 10:00 a.m. to 2:00
p.m. and in Ponca City at the Pioneer Technology Center from 4:00 p.m. to
Greg Highfill, Oklahoma State University Cooperative Extension area
livestock specialist, said those who attend will get the chance to listen
to specialists who can assist them in improving their bottom line.
Free Horse Training Session With Craig Cameron at the 2010 Tulsa Farm Show
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~If you have a horse who needs a dose of some gentle horse training- your chance to get a free session with Craig Cameron at the 17th Tulsa Farm Show is just an email or a phone call away. We appreciate those who have already responded- and we wanted to issue a final call for those that want to offer a horse for this December event.
Craig Cameron will have two sessions each day at this year's Farm Show- and we need a couple of horses for those sessions. We need horses who are halter broke for these sessions with Craig.
If you have a horse that needs to be worked with in a positive way-
give us a call at 405-841-3675- or go to the bottom of this email where it
says that you can reach us at the following: use that email to drop us
some information about your horse and a phone number where we can reach
Our thanks to Midwest Farms Shows, PCOM, P & K Equipment/ P & K Wind Energy, Johnston Enterprises, American Farmers & Ranchers, KIS Futures and Big Iron Online Auctions 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- FREE!
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 $8.65 per bushel- as of the close of business yesterday, while the 2011 New Crop contracts for Canola are now available are $9.45 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: