~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Wednesday May 11, 2011A service of Producers Cooperative Oil Mill, Midwest Farm Shows and KIS Futures!
-- Harvest Arrives in Southwest Oklahoma
-- USDA Offers Wheat Crop Production Estimates This Morning
-- Mississippi River Flooding in the Process of Wiping Out Arkansas Crops for 2011
-- Hide and Offal Values in Record Territory This Spring- Helping Cash Cattle Prices Stay Strong
-- New Report Says US Ethanol Produces $4 Billion Worth of Livestock Feed Annually
-- House Ag Committee Chair Frank Lucas to Obama Administration- It's Time to Take Action on Free Trade Deals
-- Approach to Endangered Species List Changing
-- 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- and their IPHONE App, which provides all electronic futures quotes is available at the App Store- click here for the KIS Futures App for your Iphone.
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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
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region on the Radio Oklahoma Network weekdays- if you missed this
morning's Farm News - or you are in an area where you can't hear it- click
here for this morning's Farm news from Ron Hays on RON.
Harvest Arrives in Southwest Oklahoma
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Harvest time has arrived in southwest Oklahoma for both winter canola and winter wheat. Separate reports have come in on the first loads of the two crops arriving in town.
In the case of the 2011 winter wheat crop, Charlie Swanson, General Manager for Coop Services out of Lawton reports that their Grandfield location in Tillman county took in a load of wheat (250 bushels) on Monday evening. That first load of 2011 wheat was 61.2 pounds on the test weight, 15.1% moisture and the farmer indicated that it was yielding 12 to 15 bushels per acre.
Gene Neuens with PCOM provided us the first report on winter canola. He tells us that the first load of canola was harvested in southwest Oklahoma on Monday and arrived this morning at the PCOM facility in Oklahoma City. Moisture was checked at 6%, there was 5% foreign matter and no green count.
Meanwhile, with the harvest of the 2011 Oklahoma Wheat Crop getting
underway- it appears that includes the harvest of some wheat hay if there
is enough plant material out there to mow down and bale up. Sasha Koch
with Korner K Farms in the Weatherford, Oklahoma area sent us pictures of
trying to get something out of their situation after the insurance
adjuster predicted that if you tried to harvest this field for grain- you
would get .2 bushels per acre- that's two tenths of one bushel per
USDA Offers Wheat Crop Production Estimates This Morning
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The USDA will provide their regular monthly supply demand numbers for all of the major crops- and it will be interesting to see if they change any assumptions in the corn, soybean and cotton calculations with the wet weather to our north and east slowing down the planting of the 2011 corn and soybean crops- and flooding out hundreds of thousands of acres in the Mississippi River Delta area.
The number we are most interested in will be the Crop Production numbers for the 2011 winter wheat crop. This will be our first look at how many bushels Uncle Sam thinks we are growing this year. Local estimates in Oklahoma and Texas predict that both states will have half as much wheat to harvest this year as we did a year ago, while the Kansas crop was predicted to be off 100 million bushels from a year ago, a drop of about thirty percent from 2010.
We will have details on the USDA reports on our website a little after
8 AM- including comments with Tom Leffler of Leffler Commodities- plus our
own analysis of what the numbers may mean.
Mississippi River Flooding in the Process of Wiping Out Arkansas Crops for 2011
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Flood waters have submerged one million acres of Arkansas farmland, potentially resulting in more than $500 million in crop losses, the Arkansas Farm Bureau said on Tuesday.
Nearly 300,000 acres of rice may not be planted due to flooding in the top U.S. rice producing state and 120,000 acres of winter wheat, representing about 22 percent of the state's wheat crop, may be abandoned just weeks from harvest, it said.
"We are seeing flood levels never seen before," said Randy Veach, a
cotton, rice and soybean farmer from Manila (Mississippi County), who is
president of the Arkansas Farm Bureau. "The effect to our state's
commodity crops is staggering, and the entire impact can't be adequately
determined for several months."
Hide and Offal Values in Record Territory This Spring- Helping Cash Cattle Prices Stay Strong
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~One of the key components of the strong cash cattle prices we have seen this spring is what the industry calls the "drop credit." According to Erica Rosa with the Livestock Market Information Center out of Denver, this byproduct value is the total value of all non-meat items such as the liver, hide/skin/pelt, and tallow gathered from a slaughter animal. Byproduct values are mostly driven by export markets and have been a factor contributing to higher livestock prices in 2011.
This year the live steer byproduct value as reported by USDA-AMS has been trading at record levels, with weekly values reaching a record high of $13.72 per cwt. (live steer basis) the week of April 22nd. On a monthly basis, byproduct values have increased each month since January 2010, with the average value for March at a record $13.35 per cwt. and $3.25 per cwt. above last year's. Thus far this year, the byproduct value has averaged 33% above a year ago. The driver behind the higher byproduct value is the hide, which accounts for about two-thirds of the total value. As of late-April, the year-to-date hide value was more than 20% above last year, with the value posted in March 25% higher than 2010's.
Click on the LINK below to read more- and to listen to today's Beef
Buzz with Erica Rosa regarding the drop credits and the role they play in
keeping cash cattle prices well north of a dollar per pound.
New Report Says US Ethanol Produces $4 Billion Worth of Livestock Feed Annually
Fuel and feed are at the heart of American ethanol production today. As
one of the largest feed producing segments in the US, the ethanol industry
contends they are providing large volumes of highly nutritious livestock
feed for domestic and international markets alike, this according to a new
analysis from the Renewable Fuels Association (RFA) entitled "Fueling a
Nation; Feeding the World."
According to the RFA report, America's ethanol producers supplied nearly 35 million metric tons (mmt) of livestock feed in the 2009/2010 marketing year (the agricultural marketing year is from September 1 to August 31 of the following year). By volume, such production is greater than the total amount of grain consumed by all of the beef cattle in the nation's feedlots.
House Ag Committee Chair Frank Lucas to Obama Administration- It's Time to Take Action on Free Trade Deals
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~A hearing is planned for Thursday by the House Ag Committee to look at the pending free trade deals that have been in limbo since the end of the George W Bush Presidency. The deals with Columbia, Panama and South Korea are worth big bucks to the US farmer and rancher if they are ever ratified by Congress.
The trick is- Congress can't vote on these deals until the Obama Administration sends enabling legislation to Capitol Hill which would become the vote for ratification. The Chairman of the House Ag Committee, Congressman Frank Lucas, says "While we wait for passage, U.S. market share is slipping because our competitors are gaining ground with their own trade agreements."
In his weekly commentary from the House Ag Committee majority- Congressman Lucas promises to give the Obama Administration a take home message on Thursday regarding these free trade deals- "Get Er Done."
Approach to Endangered Species List Changing
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Department of the Interior's U.S. Fish and Wildlife Service has unveiled a work plan that will allow the agency to focus its resources on the species most in need of protection under the Endangered Species Act. The plan was filed in the U.S. District Court for the District of Columbia as part of a proposed agreement with one of the agency's most frequent plaintiffs. If approved, the work plan will enable the agency to systematically review and address the needs of more than 250 species now on the list of candidates for protection under the ESA to determine if they should be added to the Federal Lists of Endangered and Threatened Wildlife and Plants.
Under the proposed work plan, the Service has laid out a schedule for making listing determinations for species that have been identified as candidates for listing, as well as for a number of species that have been petitioned for protection under the ESA. Once approved, the plan will enable the Service to again prioritize its workload based on the needs of candidate species, while also providing state wildlife agencies, stakeholders, and other partner's clarity and certainty about when listing determinations will be made.
Deputy Secretary of the Interior David Hayes says that for the first time in years, this work plan will give the wildlife professionals of the Fish and Wildlife Service the opportunity to put the needs of species first and extend that safety net to those truly in need of protection, rather than having their workload driven by the courts.
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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 $10.97 per bushel, while the 2011 New Crop contracts for Canola are now available are $11.07 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:
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