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mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
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for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
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Ron Hays, Senior Farm Director and Editor
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|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Monday, July 2, 2018
2018 is the Year Soybeans Are Finally King of the Row Crops
On June 29, USDA released its annual June Acreage Report. According to American Farm Bureau Economist Michael Nepveux, this report updates planted acreage estimates from the March planting intentions report and is among the most anticipated of the year. This is one of several key reports that have historically resulted in substantial price swings in Chicago-traded futures. This release indicates that U.S. growers planted 322 million acres of principal crops, the highest level since 2014 and up nearly 3 percent from 2017. One key takeaway is that producers will plant about 1 percent fewer corn and soybean acres in 2018, and will instead diversify into other crops such as spring wheat, hay, cotton, sorghum and rice.
For soybeans, the June planted acres estimate came in at 89.56 million acres, down 1 percent from last year and falling just short of analysts' expectations of a projected increase to 89.69 million acres. For the first time since 1983, farmers in the U.S. planted more soybean acres than corn acres. In corn, USDA pegged area at 89.13 million acres, down 1 percent from last year and over half a million acres more than the analyst projected 88.56 million acres. Wheat stopped its three-year slide, with USDA projecting area at 47.82 million acres. This is the first upturn in wheat area since 2014 when 56.84 million acres were planted and is above analyst expectations of 47.1 million acres. All wheat acres increased 4 percent from 2017.
Click or tap here to read more of the analysis of the USDA Acreage Report from the AFBF Economist.
You can click or tap here for the complete June Acreage Report- which has a wealth of data in it- and in Story seven this morning in our email- we review the Oklahoma Acreage Numbers for 2018.
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Pork Industry Using Digital Strategies to Expand Its Domestic Customer Base and Increase Demand
Much like other proteins, the US pork industry is facing a period of increased production. To compound this growing supply issue, is the rise of a US trade war that is instigating a wave of new tariffs in retaliation from our global trading partners. This has added pressure on our domestic market which must absorb the product not being exported as a result of foreign sanctions.
During the Oklahoma Pork Congress this past Friday, we had the chance to speak with Jarrod Sutton, vice president of domestic marketing for the National Pork Board, who explained what action is being taken to overcome this situation and continue to effectively keep product moving.
According to Sutton, the Pork Board's strategy relies heavily on research and digital tools, targeting various demographics, especially our Hispanic communities in which pork is a traditional dietary staple, and connecting them with the pork product or cut that best meets their individual needs. To be successful at this, he says one must consider each customer's perception of the various cuts of pork relative to taste and convenience as well as a growing social component concerning the product's sustainability.
"Pork has it all. We're doing all kinds of work to communicate that message to consumers, in the digital space especially," he said. "Last year, we started exploring some opportunities to partner with Google. Google also owns Youtube. Google is the number one search engine worldwide and we like to think every sale starts with Google. People search, people find, people buy. We want to make sure we are part of that algorithm. Because, at the end of the day it's about getting more people to eat more pork more often and that's exactly what we're trying to do."
Through search optimization, video messaging and social media campaigns executed with the laser-focused precision that only digital marketing can offer, Sutton is confident the pork industry will be able to successfully navigate any future challenges that arise.
"Look, we've got more supply and the opportunity is for us to move that demand curve to the right," he said. "That means, increasing consumption and we know we can do that because that's the business we are in."
Click here to read more or listen to our complete conversation for more details on how the National Pork Board is promoting the US pork industry.
Ag Industry Triumphs Over Activist Groups with Defeat of Lee-Booker Amendment in the Senate
Thursday afternoon, members of the US Senate gathered in chamber to debate the proposed Farm Bill for 2018 offered by Senate Ag Chairman Pat Roberts and Ranking Member Debbie Stabenow. During the debate, an amendment put forth by Senators Mike Lee of Utah and Cory Booker of New Jersey was considered. The Lee-Booker amendment challenged the Checkoff programs for agricultural commodities across the spectrum, including the dollar per head beef Checkoff, one of the primary targets of the activist group pushing the amendment - the Humane Society of the United States. Ultimately the amendment was defeated 57 to 38. Had it passed, though, it would have drastically changed the way commodity Checkoff programs operate in the US.
In his arguments prior to the Senate's vote on the amendment, Sen. Lee outlined the parameters of the amendment stating that it would "prohibit Checkoff programs from contracting with any organization that lobbies on agricultural policy with an exemption for research and institutions of higher education. It would also inhibit employees and agents of the Checkoff boards from engaging in activities that may pose a conflict of interest. Furthermore, the amendment would establish uniform standards for Checkoff programs that prohibit anti-competitive activity and any unfair or deceptive practices."
While the HSUS says this amendment would bring transparency to the Checkoff system, the organization's critics say in reality, it is just another attempt by the extremist group to inflict harm specifically on animal agriculture. Chairman Roberts and Ranking Member Stabenow both urged their peers to vote the amendment down, rising to the defense of Checkoff programs and their current structure. The Senate affirmed their judgement, speedily rejecting the amendment, upon which National Cattlemen's Beef Association President Kevin Kester issued a statement cheering the decision calling it "a win for America's cattle producers who voluntarily created and continue to overwhelmingly support the Beef Checkoff system."
Kester pushed back on the supporters of the amendment, accusing them of being "militant vegans and extreme political organizations" attempting to advance their ultimate goal of "essentially (ending) animal agriculture."
Listen to our coverage of the debate that took place over this amendment on the Senate Floor Thursday during the Farm Bill's consideration, on Friday's Beef Buzz - click here.
Senate Ag Leaders Announce Unanimously Approval of Pesticide Registration Improvement Act
The leadership of the Senate Ag Committee last week
announced the unanimous approval for reauthorization of the Pesticide Registration Improvement Act awarded by the full Senate.
"The U.S. Senate just passed a bipartisan Farm Bill to provide farmers and ranchers with certainty in a tough farm economy," said Chairman Pat Roberts. "We can add to this certainty for producers and many other stakeholders with the approval of long delayed PRIA."
Ranking Member Debbie Stabenow remarked on the strong bipartisan support this measure received, adding that the legislation would help farmers "protect their crops, while also maintaining strong protections for farmworkers and their families."
A variety of agriculture, non-agriculture, environmental and labor interests supported the enactment of PRIA, which was first introduced in June of 2017 under the Pesticide Registration Improvement Extension Act of 2017, after the US House of Representatives had passed its own version of the bill, H.R. 1029, in March of that year with strong bipartisan support as well.
Click here to read the original announcement from Senators Roberts and Stabenow on our website.
Midwest Farm Shows is proud to produce the two best Farm Shows in the State of Oklahoma annually- the Tulsa Farm Show each December and the Oklahoma City Farm Show each April.
They would like to thank all of you who participated in their 2018 Oklahoma City Farm Show.
Up next will be the Tulsa Farm Show in December 2018- the dates are December 6th, 7th and 8th. Now is the ideal time to contact the show office at 507-437-7969 and book space at the 2018 Tulsa Farm Show. To learn more about the Tulsa Farm Show, click here.
NCBA Says Cattle Producers Will Be Casualties to Canadian Tariff Hikes on U.S. Beef Products
Canada has announced it will place higher tariffs on U.S. beef imports starting yesterday, Sunday, July 1. Kent Bacus is the NCBA Director of International Trade and Market Access, and he says Canada has finally followed through on actions it's been threatening for months.
"Canada has followed through on a threat to slap a tariff on $170 million worth of U.S. beef products in direct response to the steel and aluminum tariffs," he said. "Now, they've made good on that threat. These retaliatory tariffs are clearly still avoidable. The unfortunate casualties will be Canadian consumers, as well as American cattlemen and cattlewomen."
He adds that the NCBA may not know the extent of the damage done to American producers, but the NCBA says cooperation is a better path forward than escalation.
Bacus adds, "As Canadians gather to celebrate Canada Day and we prepare to celebrate American Independence, we encourage our government and the Canadian government to remember that we are allies and we rely on each other for future economic prosperity."
Click here to read NCBA's full statement on the matter.
Shortcomings in Senate's Agriculture Improvement Act Raises Concerns for National Cotton Council
A release from the National Cotton Council late last week, highlighted what the NCC calls some "serious shortcomings" in the Senate farm bill, the Agriculture Improvement Act of 2018, that have been a cause of concern for the organization.
The NCC addressed one of those major concerns, involving the Economic Adjustment Assistance Program, which in the current proposed legislation, has three years of full funding restored in the Senate's farm bill after it was first completely eliminated. While that is a step in the right direction, the NCC strongly believes that it is critically important to fully restore the funding for EAAP which continues to help U.S. textile manufacturers stay competitive.
The NCC thanked a group of 16 Cotton Belt Senators led by Senators Isakson of Georgia and Jones of Alabama who are fighting to fully restore EAAP and other cotton priorities. Senate Ag Chair Pat Roberts of Kansas was also singled out in the release recognizing his leadership in the campaign to preserve the ARC and PLC programs as well as the marketing loan program. However, the amendment offered by Sen. Chuck Grassley of Iowa which would tighten the restrictions on farm management contributions for commodity program eligibility, is of extreme concern to cotton growers. NCC called the amendment "damaging" and says it will "harm farm families across the country and make the farm law's safety net less effective."
The NCC urges Senate leaders to align more closely with the House's version of the Farm Bill which it believes "more fully addresses the policy needs of the U.S. cotton and textile industries, as well as commercially-viable family farming operations in general."
Learn more about the NCC's concerns and where they believe improvement can be made in the process to develop a final Farm Bill to replace the existing legislation before it expires in September, by clicking here.
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|Oklahoma Remains a Top Five Wheat State While Rising in Cotton Rankings
Oklahoma remains a leader in winter wheat and all wheat production in the US- at least based on the USDA Acreage Report released this past Friday. The 2018 planted area in winter wheat in Oklahoma totaled 4.4 million acres, the third largest winter wheat seedings this just concluded production cycle- we were behind Kansas and Texas- when you check harvested for grain acres- Oklahoma jumps over Texas and is number two in the country with a predicted 2.2 million acres harvested this season.
The All Wheat Acreage Numbers show Oklahoma fifth in total planted acres and fourth in the harvested total.
The 2.2 million acres not harvested for grain included a lot of acres grazed or hayed this season- as hay was in short supply during the spring season.
Speaking of hay- the Hay Area Harvested for all hay(other than alfalfa) shows Oklahoma third in the US in total hay acres here in 2018- Texas is the number one state at 4.8 million acres, Missouri follows at 3.2 million acres and Oklahoma is third with 2.8 million acres expected to be bailed for hay this calendar year.
Oklahoma is also third in the acres planted to cotton in 2018, jumping past Mississippi in the cotton rankings. Texas is the dominant cotton producing state- with 7.412 million acres planted this season- Georgia is number two with 1.45 million acres and Oklahoma is now the third largest cotton producing state by acres planted- at 720,000 acres in the ground this season. That's a jump of 23% in plantings versus 2017.
Oklahoma is also the third largest state in plantings of grain sorghum- with Kansas and Texas planting the bulk of the acres- while Oklahoma is tied with Colorado in the acres planted this season with 400,000 acres each- and a prediction of 350,000 acres to be harvested in each state as well.
To review other Oklahoma numbers- click here for the Oklahoma-Texas summary of crop production figures for 2018 as released this past Friday afternoon.
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