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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!
OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
Today's First Look:
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures- click or tap here for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Futures Wrap:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
Kane Kinion, Web and Email Editorial Assistant
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Monday, November 25, 2019
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Howdy Neighbors!
Here is your daily Oklahoma farm and ranch news update.
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Featured Story:
The National Cattlemen's Beef Association (NCBA) last week announced its strong support for the "Preserving Family Farms Act of 2019." Introduced by U.S. Representatives Jimmy Panetta (D - 20th Dist. - Calif.) and Jackie Walorski (R - 2nd Dist. - Ind.), this important bipartisan legislation would expand IRS Code Section 2032A to allow more ranchers and farmers to take advantage of the special use valuation and protect family-owned businesses from the devastating impact of the death tax.
NCBA President Jennifer Houston said that ranchers and farmers are very appreciative of the death tax relief that was passed as part of the Tax Cuts and Jobs Act of 2017 (TCJA), but that many cattle producers are either still vulnerable to the death tax or will be vulnerable when the TCJA exemption limits revert back in 2026.
"America's beef producers should never be forced to sell any of their family's farm, ranch or business due to a death of a family member," Houston said. "NCBA is committed to the fight to defend family ranches and farms and has long advocated for sound policies that will preserve family-owned beef operations for generations to come. I applaud Representatives Panetta and Walorski for their leadership and dedication to protecting future generations of agricultural producers who seek to preserve a multigenerational legacy by maintaining a family-owned business."
American Farm Bureau Federation President Zippy Duvall also had some comments regarding his support for the new legislation.
"Farm and ranch families often face a significant financial burden when they have to pay estate taxes," said AFBF President Zippy Duvall. "Farm families should be able to pay based on how their land is actually used, rather than its potential value as commercial property such as a shopping center. AFBF commends Representatives Panetta and Warlorski for introducing the Preserving Family Farms Act of 2019, which will give more families hope they can hold on to the farm when a loved one passes. We strongly urge House members to co-sponsor this important bill."
The legislation modernizes the special use valuation provision of the estate tax. This valuation allows property to be appraised as farmland rather than its development value when determining estate taxes. Increasing the amount of farmland or ranchland that can be valued at agriculture value rather than development value would help protect family-owned farm and ranch businesses by assessing estate taxes on the actual value of the businesses they have spent decades building.
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Sponsor Spotlight
Oklahoma AgCredit supports agriculture and rural Oklahomans with reliable, consistent credit today and tomorrow.
A proud member of the Farm Credit System, Oklahoma AgCredit offers loans and financial services to farmers, ranchers and country home owners. Whether you're looking for land, a country home, livestock, or equipment, Oklahoma AgCredit can help with long-term fixed rates or short-term loans for running your agricultural operation.
With 17 locations serving 60 counties, we're locals, too. Find an office near you to talk to a lender who understands agriculture. Financing rural Oklahoma. Equal housing lender, NMLSR ID# 809962. Call us today at 866-245-3633 or go to www.okagcredit.com.
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One of the guiding principles driving Oklahoma pig farmers is giving back to their communities. This holiday season they are doing that with the #GiveAHam challenge on social media.
This campaign began with okPORK Board President Cathy Vaughan giving a ham to the Laverne, Okla., 4-H club to use in their Meals on Wheels program. Vaughan then challenged Oklahoma Governor Kevin Stitt and okPORK Executive Director Roy Lee Lindsey to #GiveAHam.
Governor Stitt promptly accepted the challenge and donated a ham to a local woman, Stormy, who is a graduate of the ReMerge program and has recovered from a life of addiction. He then challenged Lt. Governor Pinnell to participate. On Thursday Governor Pinnell accepted the challenge and donated a ham to the Jenks Food Bank and extended the challenge to Secretary of Agriculture Blayne Arthur.
"We are grateful to Governor Stitt and Lt. Governor Pinnell for joining Oklahoma's pig farmers in the #GiveAHam challenge," said Lindsey. "Their support is bringing a level of recognition to this campaign that we have not seen in years past. It is exciting to see the groups that will benefit from receiving a ham this holiday season. And we're grateful to everyone who has and will accept the #GiveAHam challenge over the next couple of weeks.
As for Roy Lee Lindsey- he has challenged former okPork President Joe Popplewell and Michael Kelsey- the Executive Vice President of the Oklahoma Cattlemen's Association.
Kelsey has promptly challenged several folks- including the current President of the OCA, Michael Weeks, new CEO of the NCBA Colin Woodall, Kelli Payne of the Oklahoma National Stockyards...and also Michael challenged yours truly- Ron Hays.
We will be responding to the challenge later this week on Facebook, Twitter and here in the email as well!
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With Dipping prices, uncertain markets, and extreme weather conditions, farmers and ranchers have become a bit nervous about running out of money to support their farms. We caught up with Ed Elfmann, American Bankers Association Senior Vice President in Kansas City to discuss the current state of agricultural lending.
With worries that we could be repeating the 1980's, one of the worst farm depressions to ever hit the U.S., Elfmann says a lot of things have changed since then, "The big thing to recognize is that the 80s were set up a lot differently than we are right now. Interest rates were 18-25% depending on where you were. That alone changes the whole cost of having a loan. But the other thing that happened in the 80s that we have to look at is that land values were a lot different, they started dropping off very quickly, and that created a lot of problems. The other side of it, the land was purchased at 5% down and 10% down, now we are talking 50-60% down on a land loan in order to have it. We've almost created an artificial floor in some ways on land values, which then helps us from a lending perspective because you have collateral tied up in the land."
The recent Agricultural Lenders Survey was released November 11th, and the Ag Bankers Conference was November 10-13th. Elfmann says they saw a lot of positives with the survey, "When we look at the survey results, the big takeaway for us is you know we are concerned, but this isn't the 80s."
Click here to listen to the entire conversation between Elfman and KC regarding the current state of ag lending.
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I had a chance to sit down with Kevin Norton, the Associate Chief of the National Resource Conservation Service at the National Association of Farm Broadcasters last week in Kansas City. Prior to his current position, Kevin served as the NRCS State Conservationist in Louisiana, but Norton also has Oklahoma ties. "I was raised in Southwest Oklahoma, Anadarko, spent the bulk of my career on the Western side of Oklahoma and the state office in Stillwater, working with the conservation program."
Right now, Norton is in the process of gathering information, comments, and input from the public on the Conservation Stewardship Program (CSP). Norton said the regulation was published last Tuesday, "We will implement off of that regulation, its an interim rule and we can implement off of those, so in 2020, CSP will be implemented off of that regulation." Norton goes on to say that they expect EQIP to happen within the next few weeks, the agriculture conservation easement program will follow and the regional conservation partnership program. "Our goal; hopefully, we will get all those approved through the office of management and budget, and they will be in full implementation after the first of January. Our state offices will know what they have available to them, and they will have the regulations and policy, and they can begin working with their farmers."
Norton reminds producers that every one of these regulations has a 60 day comment period, and that is the time to give feedback. "We want to hear from folks that use the program, folks that are vested in what those programs accomplish. We want to hear what they think, positive about it, or what they would like to see changed. We need that balance. You can't think, well, because this is the way we've always done it, we don't need to comment on it, and it will stay, because there may be a constituent agency out there that is putting comments in and saying we want to change it. So we really need to hear from our customers and those folks that are invested in conservation."
Click here to listen to the whole conversation between Norton and I regarding conservation, by clicking or tapping here.
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Sponsor Spotlight
The vision of the Oklahoma Beef Council is to be a positive difference for Oklahoma's farming and ranching families and the greater beef community and its mission is to enhance beef demand by strengthening consumer trust and exceeding consumer expectations. To learn more, visit www.oklabeef.org. Also, don't forget to like its Facebook page at www.facebook.com/oklabeef for stories on Oklahoma's ranching families and great beef recipes.
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OSU Cattle Market Economist Derrell Peel Offers His Take on the November Cattle on Feed Report
The USDA released its Cattle on Feed report for the November 1, 2019, on Friday afternoon. I reached out to OSU Extension Livestock Market Economist Dr. Derrell Peel for his reaction to the numbers in this month's report.
Peel says, in general, the numbers are what he was expecting, "This is pretty close to the average and close to a number of individual analyst expectations. The Marketing's number was quite close, just fractionally lower than the average trade guess. To me, it's a neutral report like I said, the market has been a little bit defensive here lately, so it may be taken as slightly bearish, but I don't think it will be a major reaction."
According to the report, Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on November 1, 2019. The inventory was 1 percent above November 1, 2018.
Placements in feedlots during October totaled 2.48 million head, 10 percent above 2018.
Marketing's of fed cattle during October totaled 1.88 million head, 1 percent below 2018.
Click or tap here to read more from Dr. Peel on this- and to hear our conversation with him on the Friday afternoon report.
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I caught up with Mark McCully, Chief Executive Officer of the American Angus Association, at their convention in Reno, Nevada.
McCully took over the role as CEO in June, but he has been a part of the Angus community for a long time, "I was at certified Angus beef prior to this role with the association, of course, certified Angus beef being a subsidiary of the American Angus Association, so I've been in the Angus family for 19 going on 20 years now."
McCully said its been a bit of a role change for him. He went from being focused exclusively on the certified Angus beef brand to now working more on the live cattle side, the breed registry, and working more with the Angus genetics incorporated and Angus media. He's excited about the opportunity, "You know I love this breed. I love this business we're in. I'm very, very passionate about it. It was just an opportunity to grow and take a new chapter."
You can listen to the entire conversation between McCully and I on Friday's Beef Buzz - here.
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LANDVisor Provides Comprehensive View of Vegetation and Potential Forage Productivity to Improve Returns
Last week, Corteva Agriscience announced the launch of LANDVisor™, a new integrated technology solution that allows ranchers and land managers to implement a customized solution for accomplishing their land management goals.
LANDVisor combines sophisticated imagery and data analytics with expert management advice to increase land productivity. The technology provides detailed information on forage productivity and vegetation including the density of desirable and undesirable plant species, identifying where and when herbicide treatments will be most beneficial.
"Land managers and ranchers care about all their resources, and they manage all of them for both environmental and economic sustainability," said Damon Palmer, Pasture and Land Management Business Leader at Corteva Agriscience. "LANDVisor gives them confidence that they are making optimum decisions. Providing customers with the latest integrated technology to sustainably manage their resources and maximize productivity is key to fulfilling our commitment to ensure progress."
LANDVisor allows producers to manage land for optimal productivity and environmental outcomes. Through key insights, this tool helps land managers make more informed, actionable decisions on the potential of their land, resulting in maximum return on investment. Left unchecked, low-value undesirable vegetation reduces forage production and profit potential for livestock grazers while also degrading wildlife habitat.
You can read more from Corteva regarding their newly launched LANDVisor product, by jumping over to our website.
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Our thanks to Midwest Farms Shows, P & K Equipment, AFR Insurance, Oklahoma Pork Council, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Oklahoma Ag Mediation Program, Inc., the Oklahoma Cattlemens Association, and KIS Futures 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- at NO Charge!
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
God Bless! You can reach us at the following:
phone: 405-473-6144
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