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Oklahoma National Stockyards had receipts of 10,000 head on Monday- lower money on yearlings and calves was reported- click here for details.
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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:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
Carson Horn, Associate Farm Director and Editor
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, May 15, 2018
OK and TX See Slight Improvement in Wheat Condition, as US Corn Crop Catches Up to Its Normal Pace
The latest crop progress numbers released by USDA on Monday afternoon indicate that the US corn crop, has finally caught up for the year after weeks of being behind in planting. Soybean planting is also doing well this week, exceeding its normal rate. Meanwhile, the wheat crop in the Southern Plains continues to deteriorate. To review the complete Crop Progress report released on Monday afternoon- click or tap here.
Checking in on our southern plains states- Oklahoma received little to no rainfall over the past week while the wheat crop's condition improved slightly from the week before rating this time at 65 percent poor to very poor, 24 fair and 11 good to excellent. Winter wheat joining reached 98 percent. Winter wheat headed reached 89 percent, down 4 points from the previous year. Click or tap here for the complete Oklahoma Crop Weather report as of May 14th.
In Kansas, limited information includes the latest wheat ratings - 18 percent very poor, 33 poor, 34 fair, 14 good, and 1 excellent. Winter wheat jointed was 86 percent. Headed was 42 percent, well behind 80 last year and 62 for the five-year average. Click or tap here for the Kansas Crop Weather details released on Monday afternoon.
Finally, in Texas, winter wheat in many areas of the High Plains and the Northern Low Plains was being grazed, baled or used as a cover crop for cotton. Recent rainfall improved wheat condition in the Southern Low Plains. Wheat was turning in the Cross Timbers, the Blacklands and areas of the Southern Low Plains. Producers in the southern and central parts of the state expected to start harvesting small grains later this week. Wheat's condition this week rates 2 excellent, 14 good, 25 fair, 31 poor and 28 very poor. Winter wheat headed reached 81 percent complete this week, 9 points behind the previous year and 2 behind the average. Harvested reached 7 percent complete this week, 1 above last year and 5 above the average. For the complete Texas Crop Weather report- click or tap here.
Oklahoma's crop actually improved slightly this week versus a week ago while the Kansas crop saw a minor decline in its condition. The Texas wheat crop again, had some slight improvement this week in its combined poor to very poor crop rating - Oklahoma's poor to very poor rating decreased by three percentage points from 68 percent a week ago to 65 percent this week. The Kansas crop fell from an even 50 percent last week to 51 percent poor to very poor this week - and the Texas wheat crop actually improved some decreasing from 60 percent poor to very poor last week to 59 percent poor to very poor this week.
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| Sustained Strength in Beef Exports Continues to Support the Overall Health of the US Cattle Market
According to his article in this week's Cow/Calf Corner newsletter, Dr. Derrell Peel of OSU quotes U.S. beef exports for the first three months of the year at being up by 12.2 percent with March up 11.4 percent. It is important to note, that although, the U.S. has exported beef to 100 different countries so far in 2018, 85 of those countries only account for 5.9 percent of year to date beef exports. Peel says the top 15 beef export markets represent 94.1 percent of exports with the top 6 markets accounting for 86.5 percent of total beef exports.Peel says that while U.S. beef has entered markets around the world, really, it is a small handful that truly make a real impact. Peel breaks down those numbers in his article this week and adds that there is still room for improvement in the Asian theater, to grow our export business and strengthen our domestic markets.
Among the top six beef export markets, Japan remains number one, followed by South Korea, Mexico and Hong Kong. Beef exports to number five, Canada, are down 9.6 percent compared to last year and Taiwan in sixth place, has seen a 36.7 percent year-over-year increase in its beef export market.
China comes in at No. 12, though it's business still only accounts for less than one percent of total beef exports since China resumed its relationship with the US beef industry in June 2017. However, despite the slow pace thus far, Peel maintains there is tremendous potential for China to be a very significant beef export market for the U.S. in the future.
Read Peel's full article from this week's edition of the Cow/Calf Corner newsletter, on our website, by clicking here.
|NCBA Calls on USDA to Assert Jurisdiction Over 'Fake Meat' Regulation to Ensure Market Fairness
Congress is currently working on the 2019 fiscal year budget, including work on the 2019 agriculture budget. The House Appropriations Subcommittee on Agriculture, in fact just passed a budget bill out last week - in it, language regarding the regulation of so called, fake meat products. Danielle Beck of the National Cattlemen's Beef Association's DC Office has been at the forefront of the fake meat situation that has come on the scene in recent months. She is aggressively pushing for the US Department of Agriculture to take a stance on this issue before the waters can be muddied.
According to Beck, the bill recently passed through the House Subcommittee requires the USDA Secretary to regulate products made from the cells of livestock and poultry species as defined under the Federal Meat Inspection Act and the Poultry Products Inspection Act. In addition, it also requires that USDA issue regulations prescribing the type and frequency of inspection required for the manufacturer and processing of these products as well as other requirements necessary to prevent their adulteration and misbranding. While some say the Food & Drug Administration should have authority here, Beck insists the USDA must assert its jurisdiction.
"It is critically important that USDA assert jurisdiction and be the primary regulator, because USDA is the only agency that will guarantee an even playing field for lab grown products and traditional products," Beck said. "It will ensure that all labeling claims are science-based and do not disparage traditional products."
Beck reports that Missouri and Minnesota have already advanced their own legislation that would regulate fake meat labeling in their states and says there is growing interest from other states to do the same. Beck says this is just another example of why the USDA should act now.
"We don't want to find ourselves with a patchwork of conflicting state regulations. That's not good for anybody," she said. "USDA needs to take action sooner rather than later so that there's clear regulation from the federal level."
Listen to Beck briefing on the latest developments from the fake meat labeling front, on yesterday's Beef Buzz - click here.
|Double-Crop Acres on the Rise in Oklahoma as Farmers Look to Recover Input Cost on Wheat Fields
OSU Extension Specialist Josh Lofton told our own Carson Horn this past week at the Lahoma Field Day, that he is starting to get a lot of questions from farmers regarding double-crop systems. Lofton says given the rather unfortunate turnout of this year's wheat crop, many producers in Oklahoma are considering putting down perhaps either soybeans, milo, corn or cotton behind their wheat this year, in hopes to recover some of their lost input costs. The risks associated with double-cropping have been the main concern, though, as farmers toy with making the commitment - but Lofton says that if the appropriate considerations are made and if Mother Nature cooperates a little in the next week or so, a farmer has a pretty good chance at being successful with a double-crop this year.
"We need to look at planting dates, what population you plant it at, weed control is a big issue in double-cropping... There's a lot of things we need to do in the next couple weeks to set us up for the best situation going forward," he said. "What works best, though, is going to depend on your production system."
According to Lofton, Oklahoma has historically always had a fairly significant number of double-crop acres - especially that wheat and soybean combo. What we are seeing now, though and especially this year, he says, are a lot of wheat fields being released from insurance and baled up for hay. And, rather than leaving fields fallow, Lofton says many farmers are instead opting to plant a summer crop - which has caused an uptick in the number of double-crop acres in the state this year.
"We're starting to see a lot of producers go for that double-crop option saying, 'Yeah, I want to try to recover some of the input costs of my wheat if I'm not being able to harvest - maybe I need to put a soybean crop out there...,'" he said. "That's kind of the thought process out there and I think our double-crop acres have been increasing the last several years and with the situation we're in, if Mother Nature gives us a rain here in the next week or so, I think we'll continue to see that upward tick continue."
You can listen to Lofton's complete interview with Carson for more of his advice on double-cropping, by clicking or tapping here.
Through the voluntary contributions of Oklahoma's oil and natural gas industry, the OERB has spent over $113 million restoring more than 16,000 orphaned and abandoned well sites across the state at absolutely no cost to landowners. The OERB has restored sites in 71 of 77 Oklahoma counties, cleaning an average of two to three sites each day.
|Forecasts Indicate Lower Ending Stocks Next Marketing Year for Soybeans and Especially for Corn
Earlier this month, the USDA released its first projections for US corn and soybean supply and demand in the 2018-19 marketing year. Forecasts for both crops indicate lower ending stocks next marketing year with a substantial decrease in corn ending stocks. The upcoming growing season's impact on production is a crucial determinant to a possibility of lower ending stocks next year. However, the projections for marketing year consumption levels provide essential information in forming expectations for corn and soybean prices. The consumption projections for both crops reflect the potential market size under a scenario consisting of lower supplies and higher prices.
Ending stocks of US corn for the 2018-19 marketing year are projected at 1.682 billion bushels, down 500 million bushels from current marketing year ending stock projections. The reduction in ending stocks is directly related to the expectation of significantly lower production. Ending stocks of US soybeans are projected at 415 million bushels, 115 million bushels lower than the current marketing year ending stock projections. Reduced soybean ending stocks reflect the optimism in soybean demand and lower production.
The projection for the 2018-19 average farm price of corn is in a range of $3.30 to $4.30. Current bids for harvest delivery in much of Illinois are slightly above the middle of that range. Any potential weather issues combined with continued strength in corn demand set up a scenario for a positive price response as we move into the summer. The average price for soybeans is projected in a range of $8.75 to $11.25, with harvest bids in much of Illinois currently below $10. The ability for U.S. soybeans to expand exports next year will be essential in meeting the projected increase in soybean consumption.
For more insights into this report, click over to our website for a look at the complete article from the University of Illinois.
|Montana Farmer Michelle Erickson-Jones to Testify for Farmers for Free Trade at USTR 301 Hearing
Today, Michelle Erickson-Jones, a fourth generation Montana farmer and member of Farmers for Free Trade, will testify at the U.S. Trade Representative's hearing on potential tariffs related to Section 301 trade actions against China. In her testimony, Erickson-Jones who raises grains, oilseeds, alfalfa and cattle in Broadview, Montana, will point out that the threatened 301 tariffs are already hurting American farmers and ranchers through decreased prices and new non-tariff barriers.
Erickson-Jones will point out that the U.S. farm community is already feeling the effects of tariff action, despite the fact that the tariffs have actually not yet even been put into effect. The threat of more tariffs alone, have added to the uncertainty that already weighs on the ag-economy stemming from other trade disputes such as the re-negotiation of NAFTA. She insists, these market interruptions can and will devastate ag prices and drive US farmers out of business.
She will also note how China is undermining the US with non-tariff barriers as well, citing examples of how the Chinese are using tactics like stepped-up inspections which are creating costly and damaging delays for perishable commodities, to further hinder imported US goods from entering their marketplace. She intends to show how these delays and port cancellations are destroying years of effort, negotiation, trust-building and investment, while industries such as beef and rice that have been working hard just to re-gain market access to China. She says, these efforts have been substantially set back while competitors take advantage of the uncertainty.
"Currently farmers across America are in the field wondering whether the seeds they are planting will produce a profitable crop at harvest time in the fall," Erickson-Jones stated in an early release of her testimony. "On their behalf, Farmers for Free Trade urges the Administration to take a thoughtful and long-term approach to resolving the Section 301 trade dispute with China. We further ask that the U.S. focus its attention on opening this important market to more high quality, safe and affordable food exported from America."
Read more of Erickson-Jones' comments, warning the USTR of the unintended consequences of tariffs and trade uncertainty, by clicking here to review the early release of her testimony that will be delivered at today's hearing.
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|All Eyes on the US House Rules Committee to Set Up the Structure of Floor Debate on 2018 Farm Bill
The process of getting U.S. House Floor debate on H.R.2, the Agriculture and Nutrition Act of 2018- otherwise known as the 2018 Farm Bill- continues with the focus today and tomorrow on the House Rules Committee. The Rules Committee is chaired by Texas lawmaker Pete Sessions- with the Vice Chair being Tom Cole of Oklahoma. They have taken the unusual approach of working on the Rule for floor debate on the Farm Bill in two parts- today- they will consider the Rule for General Debate of the Farm Bill and then on Wednesday- they will decide the details on amendments- how many to allow- the length of debate and other details.
That means the earliest that the debate on H.R. 2 can happen is Thursday.
A total of 116 amendments are listed on the Rules Committee website- 16 of those are noted as being filed late- so it is likely they will be tossed unless House Ag Committee Chairman Mike Conaway asks that they be allowed- leaving 91 amendments that will be dealt with by the Rules Committee ahead of the floor debate.
I have an audio analysis that talks about the process and about some of the amendments that are a part of the hundred plus that may get floor time this week or next- and you can click or tap here to hear that- plus read more and review the complete list of the amendments- and even read the whole bill- all 644 pages- or better yet- the complete report from the House Ag Committee (including dissenting views) which is 1483 pages in length.
|Feral Hog Outreach Meetings Set for Weatherford and McAlester Today
Conservation districts across Oklahoma are teaming up to host eight feral hog outreach meetings to better equip producers and landowners with ways to better manage feral hogs.
Two of those meetings are today- one this morning (9:00 AM) in Weatherford- click here for details- and the other at 6 PM this evening in McAlester- click here for the details of the southeast Oklahoma session.
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