~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Friday July 22, 2011A service of Producers Cooperative Oil Mill, Midwest Farm Shows and KIS Futures!
-- Research Shows Improved Return on Fossil Energy for Biodiesel
-- Dr. Kim Anderson discusses Drought Impact on Corn and Wheat Prices- and we have your SUNUP preview
-- 2011 Drought in Pictures- the Latest Drought Monitor for Oklahoma
-- Oklahoma Steer Feedout Program Beneficial to Cow-Calf Producers
-- National Cattlemen's Beef Association says Overregulation Still Top Concern in Rural America
-- Federal Reserve Bank Releases Agricultural Finance Databook
-- In The Field This Week- and Calendar Items Galore
-- 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.
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.
We invite you to listen to us on great radio stations across the
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.
Research Shows Improved Return on Fossil Energy for Biodiesel
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Americans can feel more confident than ever in biodiesel's ability to meet today's energy needs without sacrificing the ability of future generations to do the same. A new study shows production continues to be astonishingly energy-efficient in making biodiesel for diesel vehicles and home heating, demonstrating its long-term sustainability.
Newly published research from the University of Idaho and U.S. Department of Agriculture shows that for every unit of fossil energy needed to produce biodiesel, the return is 5.54 units of renewable energy. This energy-in, energy-out ratio is called "energy balance" or "fossil energy ratio."
"This study shows the clear trend that biodiesel production continues
to improve when it comes to efficient use of resources," said Don Scott,
director of sustainability for the National Biodiesel Board. "No other
fuel available in the U.S. comes close to such a high energy balance."
Dr. Kim Anderson discusses Drought Impact on Corn and Wheat Prices- and we have your SUNUP preview
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Grain Marketing Specialist from Oklahoma State University, Dr. Kim Anderson discusses a variety of topics including the drought impact on corn supplies and prices, looks at how corn and wheat markets are related and provides perspective on this week's successful Winter Canola Conference. All of these topics are covered by the Grain marketing guru in his weekly visit with Lyndall Stout, hostess of SUNUP. Anderson says the drought has helped improve corn prices and soft red winter wheat prices because of the likelihood of reduced production this season.
Anderson says there probably are 92 million acres of corn that have been planted, however, not that many acres may be harvested because of the heat wave and drought. Also, total production will also probably be less than what the USDA is currently projecting, which is about 13.4 to 13.5 billion bushels of corn, says Anderson.
While corn prices are supporting the current prices for soft red winter
wheat, Anderson says the USDA predictions will be adjusting as we come
into the August report and move into August and September. Anderson's
advice for producers on dealing with the drought is to plan on getting a
crop in, plan on raising those cattle and plan on making a profit.
2011 Drought in Pictures- the Latest Drought Monitor for Oklahoma
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Drought conditions changed little in the latest week across Oklahoma- with just over 42% of the state now considered to be in Exceptional Drought- or D4. The LINK below takes you to our webstory with the Oklahoma Drought Monitor graphic- plus a link over to the National Graphic.
Long term- Gary McManus, Associate State Climatologist with the Oklahoma Climatological Survey says the forecast down into the fall is not good- if you're looking for a break in the drought conditions. McManus tells us that "Drought is expected to persist or intensify over most of Oklahoma through October 31."
The Climate Prediction Center says the bottom line for our part of the
world- "continued drought persistence is likely."
Oklahoma Steer Feedout Program Beneficial to Cow-Calf Producers
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Oklahoma Steer Feedout Program is an educational program that allows cattle producers to have a taste of the feedlot world, while still learning more about their cattle.
Greg Highfill, Oklahoma State University Livestock Extension Specialist, heads up the program and says it not only benefits the producer in the lot, but also in the packing plant. Highfill also says it allows producer to produce quality cattle that have a high cutability and high quality carcass in the packing plant.
Cattlemen's Choice Feedyard, near Gage, Okla., has fed many of the
cattle involved in the Oklahoma Steer Feedout Program over several years.
Dale Moore, with the Cattlemen's Choice Feedyard, says they help the
program participants as much as any customer by providing them the full
line of carcass data. Moore says the program really helps producers to get
a feel for what their cattle would do in a feedlot situation.
National Cattlemen's Beef Association says Overregulation Still Top Concern in Rural America
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The U.S. debt ceiling continues to dominate debate in Washington, D.C., this week. A great deal of the discussion hinges on job creation and fiscal responsibility. However, National Cattlemen's Beef Association (NCBA) Vice President of Government Affairs Colin Woodall said more attention should be given to curbing the administration's onslaught of "burdensome, costly and scientifically unfounded" regulations as a way to cut spending and prevent further job loss in rural America.
"There are so many factors being overlooked inside the Beltway that could stimulate the economy, create jobs and assist in reducing wasteful, unnecessary spending. The administration would minimize, if not eliminate, the risk of pushing farmers, ranchers and small businesses out of business if needless, costly regulations were never proposed. This is a real threat and one that needs to be addressed during spending debates," said Woodall.
Several members of Congress, including Congresswoman Kristi Noem
(R-S.D.), agree that overregulation is a costly concern for farm and ranch
Federal Reserve Bank Releases Agricultural Finance Databook
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The Federal Reserve Bank of Kansas City recently released the latest Agricultural Finance Databook.
Spurred by higher input costs, agricultural lending activity increased in the second quarter, according to the Federal Reserve System's Agricultural Finance Databook.
After contracting at the beginning of the year, the total volume of farm loans at commercial banks ticked up as farmers and feedlot operators borrowed to pay for higher priced fuel, fertilizer and feed during the second quarter. Higher input costs increased the size of individual farm loans, supporting stronger loan growth at larger agricultural banks.
In contrast, intermediate-term loans for machinery and equipment
purchases contracted during the second quarter. With rising input costs,
farm income expectations eased and capital spending in the farm sector
cooled. As a result, loan volumes for farm machinery and equipment dropped
below year-ago levels, shrinking loan portfolios at small and mid-sized
In The Field This Week- and Calendar Items Galore
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~This Saturday morning, our guest is scheduled to be Dana Bessinger of the Oklahoma Ag in the Classroom program- Dana will catch us up on the just concluded bus tour of 46 school teachers across northcentral and northeast Oklahoma- and will preview the state Ag in the Classroom conference that happens next weekend. Watch Dana and yours truly on Saturday morning around 6:40 AM on KWTV, News9 in Oklahoma City.
Oklahoma State University will be hosting a pair of Ag Technology Field Days this coming week- one in Afton on July 25th- and then a second event on July 26 in Kingfisher. Presentation topics will feature precision nutrient management, ag technology and weed management, and GPS for surface water management.
Also this coming week is the 2011 Oklahoma Cattlemen's Association Convention and Trade Show- Thursday through Saturday July 28-30. Keynote speaker next Friday at the OCA meeting will be Phil Seng, the President and CEO of the US Meat Export Federation- talking about the expanding global market for US beef. Click here for the full program for the OCA Convention that is once again planned for the Reed Center in Midwest City.
Our thanks to Midwest Farms Shows, PCOM, P & K Equipment/ P & K Wind Energy, Johnston Enterprises, American Farmers & Ranchers, KIS Futures and Oklahoma Mineral Buyers 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 $12.95 per bushel, while the 2012 New Crop contracts for Canola are now available are $12.90 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: