~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Tuesday August 16, 2011A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- Joint Legislative Water Committee to Begin Looking at Oklahoma Water Needs
-- American National Cattlewomen Pushing Forward in Three Major Program Initiatives
-- Crop Weather Update - USDA Crop Progress Report Shows No Major Changes to Soybean and Corn
-- OSU's Dr. Derrell Peel says Rain Raises Hopes for Cattle Producers in Oklahoma
-- The Budget Super Committee- What Might It Mean for Ag Spending and Policy?
-- Federal Reserve Bank of Kansas City Talks Extreme Weather and Higher Input Costs in Latest Ag Outlook
-- Senator Coburn Town Halls, Farm Bureau Area Meetings and Express and their Big Event
-- 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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Joint Legislative Water Committee to Begin Looking at Oklahoma Water Needs
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~State Representative Phil Richardson of Minco has been appointed as one of the co-chairman of the Joint Legislative Water Committee, which will begin holding meetings this Wednesday, August 17. Richardson says the goal of the committee is to look at the results of the Water Resources Board's five year study on water in Oklahoma.
Richardson says the committee hopes to really think about how to adopt the state water plan in Oklahoma over the course of the committee's eight meetings. Ultimately, Richardson says he hopes the meetings will lead to some sort of legislation on water in the upcoming year.
One of the topics to be discussed during the committee meetings, according to Richardson, is the issue of infrastructure concerning water. It is estimated that it will cost the state $2 billion over the next 50 years to address the issue of infrastructure of the distribution of water across the state says Richardson.
Of course, agriculture is one area that uses a lot of water throughout the state and Richardson says he hopes the committee will continue to make agriculture a priority for water utilization. To keep agriculture in Oklahoma alive and viable, it is going to require a tremendous amount of water says Richardson.
Click on the LINK below to listen to the rest of our conversation with Rep. Richardson on the goals and upcoming meeting of the Joint Legislative Water Committee.
American National Cattlewomen Pushing Forward in Three Major Program Initiatives
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Marching up the leadership ranks of the American National Cattlewomen is Oklahoma Cattlewoman President Tammi Didlot. She is now serving as the President Elect of the national organization- and will officially take over as President at the end of the 2012 ANCW meeting to be held in Nashville next February.
At the recent Summer Cattle Industry Conference in Florida, we caught up to and visited with Didlot about the summer conference for the cattle ladies- as well getting an update on some of their key programs that they have been working on here in 2011.
Among those programs- the National Beef Cook-off, the National Beef Ambassador Contest and the National Beef Speakers Bureau.
We recently talked with Didlot and you can hear a part of our conversation on this Beef Buzz about these efforts of cattle ladies dedicated to making the beef business better by clicking on the LINK below.
Crop Weather Update - USDA Crop Progress Report Shows No Major Changes to Soybean and Corn
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Because the Oklahoma Crop Weather Update was unavailable as of Monday afternoon, we focus on Monday's USDA Crop Progress Report, which has information on many of our spring-planted crops and is linked below.
The condition of the nation's corn and soybean crops was basically unchanged in the week ending Aug. 14, according to Monday's USDA Crop progress report. This was in line with pre-report expectations and should be considered neutral for corn, said DTN Analyst John Sanow.
Sixty percent of the corn was rated good to excellent, equal to last week. Sixty-one percent of the soybeans were rated good to excellent, also unchanged from last week.
Corn development continues to trail an average pace. Denting, at 17%, was 4 percentage points behind the five-year average. Soybean development also trails a normal pace, with setting pods at 70%, 8 percentage points behind average. "As for Indiana, Illinois, Iowa and Missouri here drought conditions are worsening, percent of setting pods at 59%, 75%, 84% and 58% are cause for concern," Sanow said. "This week's report could be considered slightly bullish given the lack of moisture over large portions of the central Corn Belt, Southern Plains and Delta regions could ultimately lower field more than USDA's current 41.4 bpa estimate."
The winter wheat crop is 91% harvested, compared to a 94% average. Spring wheat harvest is at 13% compared to an average of 39%. Spring wheat crop conditions were unchanged at 66% good to excellent, "somewhat surprising considering the recent wet weather and crop maturation," Sanow said. The delay in harvest was "not all that surprising given wet weather and the delayed planting pace," he added. "Traders are unlikely to pay much attention to this report, though some may say it is bearish due to the general consensus conditions would decline."
OSU's Dr. Derrell Peel says Rain Raises Hopes for Cattle Producers in Oklahoma
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Unsettled weather for most of a week brought rain in varying amounts to much of the state. Some of the hottest, driest areas received little if any moisture but much of the state received from one half inch to three or more inches. Unfortunately, the forecast going forward is for a return to 100+ temperatures with very limited chances for additional moisture for the next ten days or so. The change has brought relatively cooler weather and even the return to high temperatures this week is expected to be accompanied by lower nighttime low temperatures which will relieve some stress on animals, according to OSU Extension Livestock Market Economist, Dr. Derrell Peel.
The impact of the rains so far is mostly one of getting hopes up. Most of the rain did little to fill any ponds so limited water supplies are still a major concern for many producers. The moisture may result in a slight greening of some pastures but is likely to provide little significant forage growth. Producers should remember that pastures are vulnerable to damage if not managed carefully in this situation. Pastures need time to recover and immediate use after marginal growth could be detrimental longer term. The desperate need for grazing forage should be balanced against the health of the pasture, especially at this late date in the growing season.
Perhaps the most hopes are pinned on the prospects for wheat pasture which are raised from virtually zero to slight with this moisture. Many producers are hoping for wheat pasture, maybe not just to run winter stockers, but to provide forage for cows this fall and winter. If fall forage develops there will certainly be plenty of demand for it.
The Budget Super Committee- What Might It Mean for Ag Spending and Policy?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The weekly legislative update released on Monday and put out by the Oklahoma Grain and Feed Association has a really excellent overview of the Budget Super Committee that is part of the devil in the details of the Debt Ceiling/Deficit Reduction Deal worked out early this month. We have the full analysis on our website- and linked below for you- and it pulls together some really excellent information on the committee's timeline- the members of the committee and what cuts might be coming for agriculture.
Key deadlines including the following: The panel will accept until October 14 recommendations from the various House and Senate committees of jurisdiction on where and how deep cuts should fall, but are not bound by these recommendations. The super committee has until November 23 to finalize a draft bill by a simple majority vote of the members. By December 2, if the super committee approves its bill, a report and recommended legislative language is presented to the President, Vice President and House and Senate leadership, with the bill formally introduced in both chambers the next legislative day. The bill is referred to committees of jurisdiction by December 9, and committees which formally report the bill out must do so without amendment, but many are expected to send recommendations that include specific legislative language to implement the recommendations. If committees fail to formally report a bill, it is automatically discharged. Congress has until December 23 to vote up or down on the fate of the bill - no amendments or procedural blocks are allowed. If Congress fails to approve whatever the committee comes up with, a minimum of $1.2 trillion in across-the-board cuts in federal spending kick in. The committee is dissolved on January 31, 2012.
For agriculture- both direct farm payments and some elements of the conservation program are likely to be prime targets since they are easy to identify pots of money within the farm law. The third pot of money that is most visible and has enough money in it to matter is Crop Insurance- and many ag supporters believe that this is the most defensible budgetary outlay that is within the agricultural camp.
Federal Reserve Bank of Kansas City Talks Extreme Weather and Higher Input Costs in Latest Ag Outlook
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Extreme weather and rising input costs cut Tenth District farm incomes in the second quarter, according to the Federal Reserve Bank of Kansas City's quarterly Survey of Agricultural Credit Conditions.
In the southern Plains, severe drought lowered wheat yields, and poor pasture conditions hastened herd liquidations and increased cattle feeding costs. Plentiful rainfall improved growing conditions in the central Plains but worsened flooding along the swollen Platte and Missouri Rivers. High crude oil prices and rising feed costs drove farm production expenses higher.
With shorter profit margins, District bankers noted less capital spending on machinery and equipment, although rising fuel, fertilizer and feed costs could boost operating loan demand in the fall. Several contacts noted increased competition among commercial banks, Farm Credit associations and vender creditors to attract quality loans.
Despite weaker incomes, most of the 246 bank respondents reported strong loan portfolios in the second quarter. Most banks had few nonperforming farm loans, and those with delinquencies felt that most repayment issues could be managed without major loan restructuring or forced sale of assets.
Senator Coburn Town Halls, Farm Bureau Area Meetings and Express and their Big Event
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Several dozen items are on our calendar between now and the first of the month- including several stops being made in eastern Oklahoma by Oklahoma Senator Tom Coburn as he conducts Town Hall Meetings across the state. Senator Coburn meets with folks today in Tulsa, tomorrow at four locations in the eastern part of the state and then has an Oklahoma City Town Hall planned on Thursday, Click here for the Tulsa meeting set for 6 PM this evening.
August area meetings continue for the Oklahoma Farm Bureau- Ardmore today, Duncan on Wednesday and Sapulpa on Thursday are scheduled for this week. Click here for the details of the meetings planned in Ardmore and Duncan- as well as a link back to the Farm Bureau site for more information on the rest of their meetings the balance of the month.
Next week- one of the big beef cattle events you will want to be a part of is the 2011 edition of the Big event at Express Ranches in Yukon. This year's schedule at Express is a bit different than in the past. On Friday, August 26 they have joined with Superior to offer about 2,000 head of Express influenced commercial bred heifers and top end calves from some of their best commercial customers and friends. And then on Saturday, August 27 Express will be offering about 300 lots (500 head) of the best registered females and bull calves that we have produced. As usual, this offering will consist of donors, show prospects, bred heifers, and young cow-calf pairs. Click here for our listing on the Express sales coming August 26 and 27- it look like some really great genetics will be a part of their 2011 offering.
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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 $12.55 per bushel- as of the close of trade Wednesday, while the 2012 New Crop contracts for Canola are now available are $12.71 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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