~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Wednesday December 15, 2010A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- NCBA Pleased with USDA Announcement of Cost Benefit Analysis on GIPSA Rule
-- US Beef Exports in October Beat October 2009 by 37%
-- Ginning Season Winding Down in Oklahoma Cotton Country
-- Steady Growth in World Wheat Markets Will Gradually Erode Global Wheat Stocks
-- Will Estate Tax Deal From the Obama-GOP Deal Remain Intact?
-- AgConnect Set for Their Second Year- This Time in Atlanta
-- Big Iron Auction Today and Next Wednesday to End 2010
-- 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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true cold-tolerant seeded forage bermudagrass in the United States. For
more on Johnston Enterprises- click
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NCBA Pleased with USDA Announcement of Cost Benefit Analysis on GIPSA Rule
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~As reported yesterday in our email, USDA held a Conference Call with Meat Industry Leaders about how they are working through the comments on the proposed GIPSA Rule on the marketing of livestock. Colin Woodall of the National Cattlemen's Beef Association came away from the Monday briefing with Secretary of Agriculture Tom Vilsack pleased with the word that a cost benefit analysis will be performed by the Agency.
Unlike other industry officials, Woodall was actually in the room with the Secretary for the briefing and reports that Vilsack said approximately 52,000 of the pubic submissions were form letters of some type. Vilsack also said USDA will take its time to evaluate the unique comments, and he announced that Chief Economist Joe Glauber's office will conduct a comprehensive cost-benefit analysis of the proposed rule, something that NCBA, other industry groups and members of Congress have sought for months.
We have an audio update with comments from Colin Woodall on our latest Beef Buzz from the Radio Oklahoma Network. The Beef Buzz is heard daily on great radio stations around the region- and you can also go to our website at www.OklahomaFarmReport.Com and click on the Beef Buzz button on the left hand side of any page.
US Beef Exports in October Beat October 2009 by 37%
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~October was a very strong month for U.S. red meat exports, according to results compiled by the U.S. Meat Export Federation (USMEF). Beef exports achieved their second-highest value of the year at $375.3 million (trailing only June's $377.6 million), surpassing the September total by 11 percent and beating October 2009 by an impressive 37 percent.
Pork export value was third-highest of the year at $407.8 million - trailing only May ($419.3 million) and June ($425.3 million). The October value total was 7 percent higher than September and 9 percent higher than October 2009.
It does appear that in 2010 we have finally crawled back to move ahead
of the 2003 value of beef exports that come from the United States- that
year is significant because it was the year that we found the "Cow that
Stole Christmas" in Washington state. That Canadian dairy cow that tested
positive for BSE set the alarm bells off around the world- and caused US
beef exports to drop sharply in 2004.
Ginning Season Winding Down in Oklahoma Cotton Country
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's 2010 Cotton crop has been a good one, even in those areas where dry weather hurt the dryland crop, according to reports received from representative cotton gins today.
Due to late rains in September, an already drought-stressed crop put on a growth spurt, slowing down the harvest until later in the fall. However, several Oklahoma gins are about to finish their ginning season. Near the I-40 interstate crossing Oklahoma east to west and northern Oklahoma, cotton is still in fields and a few gins are in the early to middle part of their cotton processing.
Thanks to Vic Schoonover of NTOK who has provided us with a rundown of where we are on gin activities as we hit mid December. Click on the LINK below for the full rundown that he has provided.
Taking a look at some of the highlights- three of the larger gins in
the state (in terms of the number of bales they produce annually) are in
Jackson County. Cotton Growers gin, Altus, Ok., reports 85,000 bales
ginned so far and anticipation is for 100,000 bales by the end of the
Steady Growth in World Wheat Markets Will Gradually Erode Global Wheat Stocks
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Kansas State University Extension Grain Marketing Economist Dr. Dan O'Brien says that there were no big surprises for the US wheat industry from this past week's Supply Demand data released by the US Department of Agriculture. O'Brien has reviewed the data and offers an interesting analysis that we have on our website- you can find it via the LINK below. Here are a couple of key takeaways:
"In most aspects, market prospects for 2011 have not changed appreciably since November, except for the significant wet harvest and wheat quality problems that are occurring in Australia and the emerging understanding of scope of wheat quality problems with the 2010 Canadian crop."
O'Brien sees several factors to watch in 2011 that will impact the
wheat market's price direction:
Will Estate Tax Deal From the Obama-GOP Deal Remain Intact?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~That's one of the points of drama right now as the Senate neared passage of President Obama's tax cuts package Tuesday. The deal nears a vote later today in the Senate.
While Independent and very liberal Senator Bernie Sanders wants to
raise the Estate tax rate and lower the exemption, the $5 million dollar
exemption per person with a tax rate of 35% on everything above that seems
fairly safe in the Senate package.
The President is making phone calls and trying to bring his party into line with the deal made with the GOP leadership. Senator Mitch McConnell of Kentucky says while the deal is costly, it is an important first step because stopping the Obama Tax Increases from taking place means you have turned off the spigot of more money for Democratic programs- and set the table for slimming down government in 2011 and beyond.
AgConnect Set for Their Second Year- This Time in Atlanta
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Ag Connect Expo 2011 is coming to the Georgia World Congress Center in Atlanta, January 7-10, 2011. We talked recently with show director Sara Mooney with the Ag Equipment Manufacturers, who says they have worked to improve over last year's success with more network opportunities, an expanded education program, and more exhibitors on the show floor.
The first AgConnect was held last year in Orlando, Florida. This year's event is sandwiched between two major early in the year national agricultural meetings. Earlier that week, the 2011 Beltwide Cotton Conferences are being held in downtown Atlanta, while the same weekend for AgConnect 2011 will see the American Farm Bureau hold their annual convention in the same location.
Click on the LINK below to jump to our webstory on this event- and you can listen to our conversation with Sara Mooney- for those that are going to the Beltwide Cotton meetings this year- an extra day in Atlanta will give you a chance to check out the show- and for those that are going to the American Farm Bureau convention- you will be in downtown Atlanta at the same time as the show- and will have the chance to check it out as well.
Big Iron Auction Today and Next Wednesday to End 2010
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~There's an extra Big Iron auction that starts closing at 10 AM Central time this morning, with oilfield and construction equipment to check out. You can go to the Big Iron website- we have it linked below- for more details- or click here to listen to the Big Iron radio spot for this week which gives details of many of the items being offered.
Next week, there is the regular farm equipment and more auction planned for closing on December 22nd. This will be the final auction for the Big Iron folks for 2010. We appreciate their support of our daily email- and invite you to check out their listings- several Oklahoma pieces of equipment are in the mix for both next week's auction as well as the first sale for 2011.
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 $9.75 per bushel- as of the close of business yesterday, while the 2011 New Crop contracts for Canola are now available are $10.40 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: