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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.
Let's
Check the Markets!
Today's
First Look:
Ron
on RON Markets as heard on K101
mornings
with cash and futures reviewed- includes where the Cash
Cattle market stands, the latest Feeder Cattle Markets
Etc.
We
have a new market feature on a daily basis-
each afternoon we are posting a recap of that day's
markets as analyzed by Justin Lewis of KIS
futures- click
here for the report posted yesterday afternoon
around 3:30 PM.
Okla
Cash Grain:
Daily
Oklahoma Cash Grain Prices- as reported
by the Oklahoma Dept. of Agriculture.
Canola
Prices:
Cash price for canola was
$9.50 per bushel- based on delivery to the in
Hillsdale yesterday. The full listing of cash
canola bids at country points in Oklahoma can now be
found in the daily Oklahoma Cash Grain report- linked
above.
Futures
Wrap:
Our
Daily Market Wrapup from the Radio
Oklahoma Network with Jim Apel and Tom Leffler-
analyzing the Futures Markets from the previous Day.
Feeder
Cattle Recap:
The
National Daily Feeder & Stocker
Cattle Summary- as prepared by USDA.
Slaughter
Cattle Recap:
The
National Daily Slaughter Cattle
Summary- as prepared by the USDA.
TCFA
Feedlot Recap:
Finally,
here is the Daily Volume and Price Summary from
the Texas Cattle Feeders Association.
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Oklahoma's
Latest Farm and Ranch News
Presented
by
Your
Update from Ron Hays of RON
Tuesday, July 8,
2014 |
Howdy
Neighbors!
Here is your daily Oklahoma farm and ranch
news update.
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Featured Story:
Momentum
Remains Strong for U.S. Pork, Beef
Exports
U.S.
pork and beef exports maintained their strong
momentum in May, with export volumes for both
products exceeding last year's totals and value
increasing by double digits, according to
statistics released by USDA and compiled by the
U.S. Meat Export Federation
(USMEF).
May pork exports totaled
188,030 metric tons (mt), up 4 percent from a year
ago. Export value remained in the $600 million
range for the third consecutive month, increasing
19 percent to $599.6 million. For January through
May, pork export volume (964,631 mt) was 9 percent
ahead of last year's pace, while export value was
up 15 percent to $2.84 billion.
Beef
exports in May were up 5 percent in volume
(102,967 mt) and 15 percent in value ($589
million). For the first five months of 2014,
export volume was up 9 percent to 479,344 mt and
value increased 17 percent to $2.64
billion.
Beef exports largest of the
year to Hong Kong, Mexico - In mid-June, U.S. beef
gained full access to Hong Kong, adding key
products such as ground beef and processed meats.
But even with some restrictions still in place,
May exports to Hong Kong surged more than 80
percent from a year ago to 13,008 mt. On a value
basis, exports more than doubled to $95.2
million.
Click Here to read more
highlights of growing demand for beef and pork
internationally.
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The
presenting sponsor of our daily email is the
Oklahoma Farm Bureau - a
grassroots organization that has for it's Mission
Statement- Improving the Lives of Rural
Oklahomans." Farm Bureau, as the state's largest
general farm organization, is active at the State
Capitol fighting for the best interests of its
members and working with other groups to make
certain that the interests of rural Oklahoma is
protected. Click here for their website to
learn more about the organization and how it can
benefit you to be a part of Farm
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Kim
Anderson Outlines Wheat Marketing Options
Will
wheat farmers even see $7 wheat again? That was
the question posed to Kim
Anderson, Oklahoma State University Grain
Marketing Economist on last weekend's edition of
SUNUP. Anderson responds with the answer that it
is impossible to predict commodity prices. With no
crystal ball in hand, Anderson recommends farmers
watch the volatility to see what the prices are
doing.
"Right now we are bidding off
the September KC contract, Anderson said. "If you
look at the support prices, that price is about
$6.70 - 6.75 right now".
"It's got
weak support at $6.80 and stronger support at
$6.40," Anderson said. "That means that it's
probably going to touch those points, bounce a
little bit and either go on down or turn back up."
Typically Anderson prefers marketing
wheat by selling one third at harvest, one third
in the September-October time frame and one third
in the November-December time frame, as it
provides dollar cost averaging, but there are some
other options to consider this year.
Click Here to read more about
Anderson's recommendations.
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The
National Cattlemen's Beef
Association and the Public Lands
Council filed comments on the U.S.
Environmental Protection Agency and the U.S. Army
Corps of Engineers' "interpretive" rule. The rule
will make the Natural Resource Conservation
Service a regulatory compliance agency, resulting
in cattle producers putting less conservation on
the ground.
The interpretive rule was
published in the Federal Register the same day as
the agencies' proposed rule to redefine "waters of
the United States" under the Clean Water Act. The
rule's intent is to interpret what Congress meant
when it included a statutory exemption for "normal
farming, silviculture and ranching activities"
under the 404 Dredge and Fill
Program.
"The EPA claims they have made
right with the agricultural community by
interpreting their exemption to only include the
'normal' 56 NRCS practice standards, excluding all
other NRCS practice standards and all voluntary
conservation activities," said Ashley McDonald,
NCBA environmental council. "By defining these
very specific 56 practices, the interpretive rule
only narrows the scope of what is considered
normal farming and ranching practices. These
practices, such as building a fence, or grazing
cattle, never needed a permit before, but now
require oversight by NRCS and mandatory compliance
with its standards."
Click Here to read more of
comments made by NCBA and PLC on the 'Waters of
the US proposed rule'.
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Wheat
Harvest Almost Done In Oklahoma, Continues in
Texas and Kansas
Harvest
continues in
Oklahoma. In the
weekly crop progress report, canola harvest
reached 98 percent complete and wheat harvest was
95 percent complete Sunday. Results of the
July Ag Yield survey comes out July 11th.
Rye harvest was 75 percent complete and oats are
59 percent harvested. First cutting of
alfalfa reached 98 percent complete, while second
cutting was 70 percent complete. Row crop
conditions continued to be rated mostly good to
excellent due to higher than normal June rainfall
totals and warm temperatures. Corn rated 85
percent fair to excellent condition, sorghum rated
88 percent fair to excellent, 95 percent of the
cotton is in fair to excellent condition while 100
percent of the peanut crop is in fair to excellent
condition. Pasture and range conditions were
mostly rated good to fair. Even with
precipitation, subsoil moisture condition were not
improving and soil erosion continued to be a issue
in areas. Click here for the full Oklahoma
report.
Winter wheat continued to be
harvested throughout the state of
Texas. Harvest is 85
percent complete, which is slightly ahead of last
year, but five percent behind the five year
average. Corn, soybeans, sorghum and peanuts
all rated above 90 percent fair to excellent
condition, while cotton rated 78 percent fair to
excellent. Eighty percent of the pasture
rated fair to excellent. Areas of the east
and central continue to be green while some areas
are in need of moisture. Click Here for the full Texas
report.
Kansas
farmers were busy harvesting wheat, although some
harvest was delayed due to application of
herbicide to control weeds due to the recent
rains. Wheat harvest was 70 percent
complete, behind
83 last year and 88 average. The
state's corn, soybean, sorghum and cotton crops
are all rated above 90 percent fair to excellent
condition. Seventy eight percent of the
pasture and range rated in fair to excellent
condition. Click Here for the full Kansas
Report.
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US
Corn Crop Continues to Get Better with Time
Could
it be this year's corn crop is continuing to
improve? That is what it looks like
according to the US Department of
Agriculture's weekly crop progress
report. Nationally the crop improved one
point in the excellent category and otherwise held
steady since last week. That's on top of the two
points the crop gained a week ago in the excellent
category. USDA reports 21 percent of the
nation's crop is in excellent condition, 54
percent in the good condition, 20 percent in fair,
four in poor and one percent in very poor
condition.
The nation's soybean
crop remains unchanged over a week ago with 15
percent in excellent condition, 57 percent in
good, 23 percent in fair, four in poor and one
percent in very poor condition.
Nationally 57 percent of the
winter wheat has been harvested. That three
points behind the five year average of 60.
Pasture and range conditions
dropped slightly over a week ago in gaining one
point in the very poor and fair condition
categories. Nationally pasture and range
conditions rated 11 percent excellent, 45 percent
good, 28 percent fair, 11 percent poor and five
percent very poor condition.
To read
the full national crop progress report Click
Here. |
Record
Prices, Creates Mixed Emotions for Beef Industry
Derrell
S. Peel, Oklahoma State University
Extension Livestock Marketing Specialist, writes
in the latest Cow/Calf Corner
newsletter
The beef industry is
experiencing a wide range of emotions at the
current time. The level of excitement is obvious
as cattle and beef prices have pushed even beyond
record levels of earlier this year. Cattle prices
are at values unimaginable just a few years ago.
Higher cost of production and reduced herd sizes
notwithstanding, many cow-calf producers will
experience record returns in 2014. Coupled with
the excitement, however, is a certain level of
disbelief of current price levels. There is almost
a "pinch me to see if I'm awake" feeling among
many cattle producers. Though producers have been
expecting strong prices as a result of declining
cattle inventories and reduced beef production,
the recent meteoric rise in cattle and beef prices
is even beyond what only a few imagined and none
would predict.
Coupled with disbelief
is a growing level of skepticism, especially
regarding beef demand. The most common question I
get from producers is "when do we price ourselves
out of the market?" or "when do people stop eating
beef?" It's almost as if we have no confidence in
our product or our consumers. There are a
multitude of beef products and some adjust more
than others but it is becoming more apparent that
many beef products are less price-sensitive than
we might have imagined. Beef wholesale prices have
pushed sharply higher the past month and the
impacts will be felt in retail prices in the
coming weeks. It takes time for retail markets to
fully adjust and, while wholesale prices may cycle
lower again after Independence Day, general upward
pressure on wholesale and retail prices will
continue for many months. Pork prices, partly due
to impacts of the Porcine Epidemic Diarrhea virus
(PEDv), and poultry prices have also increased.
How those industries respond in coming months will
be important. Certainly we are challenging beef
demand in a manner unlike ever before and we must
be sensitive to how retailers and consumers
respond to rising price levels but both domestic
and international beef demand are proving to be
quite robust so far.
Click Here to read more of Dr.
Peel's comments.
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For
Your Reading Pleasure- a Really Good Overview of
the Changes in the Farm Safety Net in the 2014
Farm Law
USDA's
Economic Research Service has an Electronic
publication called Amber Waves and in their July
Issue- released yesterday- they offer a really
good and detailed look at the changes in the
federal farm safety net that has come out of the
2014 Farm Law- passed back in February of this
year by Congress and Signed by President Obama.
Implementation
is still underway- and you won't be signing up for
the 2014 Crop Year until maybe this fall- but
reading this overview may help you start the
process of making the decisions that are ahead for
your operation as they relate to the 2014 Farm
Law.
Click here for the full article-
below are the first couple of paragraphs of what
author Anne Effland has
written:
"The
2014 Farm Act introduces a marked change in U.S.
commodity policy, ending nearly 20 years of fixed
annual payments to producers based on historical
production. New programs offer a variety of
payment structures, commodity coverage, and level
of yield and/or revenue risk, but all are tied in
some way to annual or multi-year fluctuations in
prices, yields, or revenues. The new Farm Act
continues a movement toward closer links between
commodity programs and Federal crop insurance that
began with the 2008 Farm Act, but producers also
face increased choices that add complexity to the
program enrollment decision.
"Farmers
have a variety of approaches to managing risk,
including savings, off-farm employment, forward
contracting, and portfolio diversification. While
most producers use one or more of these private
tools for risk management, many also combine these
with participation in Government commodity and
insurance programs. Producers of eligible
commodities who choose to enroll in commodity
programs or purchase new insurance products have a
range of new options under the Agricultural Act of
2014."
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God Bless!
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phone: 405-473-6144
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