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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:
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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
Friday, October 12, 2018
Ag Futures prices traded slightly higher on the backs of the October Crop Production and Monthly WASDE reports released by the USDA yesterday morning, with Uncle Sam trimming the corn yield figure slightly and dropping the number of harvested acres for soybeans- resulting in the production numbers slightly lower for both of these major crops.
The unknown is the heavy rainfall being seen across much of the middle part of the country that is disrupting harvest in many locations- and you can add to that the incredible early in the year cold headed our way- Ryan Maue with Weathermodels.Com tweets "Major blast of record cold air arriving Sunday-Monday across Rockies and then Plains into Texas ... mid-October highs 30-40°F below normal-" and this is the system that will bring close to freezing temps into Oklahoma Monday and Tuesday- and will deliver an overnight low to Denver of 12 degrees by Monday morning. These weather developments are not included in the October Crop Production numbers.
In respect to Oklahoma- the state's 2018 cotton crop, based on the October first data, will just miss being a million bale crop this year after scoring just over a million bales in 2017. A drop of one hundred pounds of lint per acre was the big difference- harvested acres are projected at 570,000 acres this year versus 550,000 acres a year ago, which reflects a huge abandonment of about 180,000 acres currently is expected. USDA did find about fifty thousand acres The unknown factor with these numbers are the rains in southwestern Oklahoma which swamped several thousand acres of cotton close to harvest- that could bring the final tally for the 2018 crop down.
The 2018 Canola Crop was also a part of the Thursday report. As expected, the 2018 growing season was a disappointing one for winter canola in Oklahoma, with only 53,000 acres reported as being harvested and a yield 35% under that of 2017- 880 pounds per acre. That meant a final production tally of 43.64 million pounds in 2018, versus 191 million pounds harvested in 2017, a drop of 76% year to year.
For more highlights or to review a crop's specific details, view the complete reports or watch a short video summary provided by Joe Vaclivik of Standard Grain - tap or click here.
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 Midwest Farm 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.
This Week on SUNUP- Russia Wheat Floods the Market while Growers' Cup Runneth Over with Rain
Russia has been a major influence on the wheat market lately and a consistent topic in discussions of trade. Once again, Russia has come onto the scene this week with news out from its Ministry of Agriculture. Like last year, the Russians are adjusting their production estimates up, this time from 2.4 to 2.5 billion bushels. According to OSU Extension Grain Market Economist Dr. Kim Anderson, this news implies that Russia probably intends to put more wheat on the export market than what was previously expected. He explained the market's reaction to this news in an interview this week with SUNUP host, Dave Deeken, and also discussed the impact that recent rainy weather here in Oklahoma has had on wheat producers and those with other crops still waiting to be harvested.
You can watch their visit tomorrow or Sunday on SUNUP- but you can hear Kim's comments right now by clicking here.
NCBA Calls for Sense of Urgency in Trade Deal Negotiations with Japan as Competition Stiffens
The US beef cattle industry welcomed the recent news of an accord between President Donald Trump and Japan's Prime Minister Shinzo Abe to begin negotiations on a bilateral trade agreement. National Cattlemen's Beef Association Director of International Trade and Market Access Kent Bacus says with Japan as the No. 1 export market for the US beef industry, the success of getting this trade deal done and getting it done quickly, is very important to the health of the beef industry and producers' bottom lines.
"We face a 38.5 percent tariff in the Japanese market. Just like the Korean market, that's one of our biggest hindrances. Once we can get that out of the way - we've already focused on developing the Japanese consumer over the last several years. That's become a very important market to us; our biggest export market by far."
According to Bacus, the Japanese market accounts for approximately 25 percent of our beef export sales, close to $2 billion in a market. Bare in mind, Bacus says, that is with a 38.5 percent tariff which means opportunity abounds in that market to develop the supply chain there and its consumer base even more. Whether the terms of beef trade will come up at the front end, the back end or somewhere in the middle of the negotiation process remains unknown at this time, but Bacus insists it is a matter that NCBA will strongly push for the US negotiators to address.
"I think the thing to keep in mind is that a lot of other people see Japan as a very important market. There's already a lot of competition there that could affect our long-term success in that market," he said. "That's why we need to move quickly to establish a free trade agreement with the Japanese. The timing on this is going to be very important so that's why this Japan trade agreement is one of the top priorities for us at NCBA."
Listen to Bacus discuss the importance of establishing a bilateral trade agreement with Japan, on yesterday's Beef Buzz - click here.
Oklahoma Almost Completely Drought Free with Only 2% of the State Remaining Under Dry Conditions
It's been over a year since Oklahoma was last completely free of drought- 13 and half months to be exact. We very nearly made it back to that point this week but fell just short of that distinction with the latest Drought Monitor map showing a minuscule 2% of Oklahoma still under drought conditions.
Despite the massive amount of rainfall across the state, dryness still stubbornly persists in the northwest panhandle and northeastern corner of the state- as you can see from the map, below.
More moisture, prompted by Tropical Storm Sergio, in the form of rain and snow is in the forecast though, which may help to offset some of the remaining drought.
Click here for a closer look at this week's Drought Monitor Map or to review the latest edition of the Mesonet Ticker report.
The Oklahoma Pork Council is a producer organization representing the interests all of pork producers throughout Oklahoma.
Pork Famers in Oklahoma recognize our obligation to build and maintain the trust of customers and the public in our products and our practices. To promote confidence in what we do and how we do it, we affirm the following ethical principles: food safety, animal Safety, environment, public health, employee care and the communities in which we operate.
to learn more about the Oklahoma Pork Council.
Mark Hodges Reviews Oklahoma's Wheat Crop Past and Present and What's in Store for the Future
The state's 2018 wheat crop is one of the best, highest-quality crops that Oklahoma has had in recent memory- so says wheat industry leader, Mark Hodges. In catching up with him recently, Hodges said he and his peers in the wheat industry were all very pleased in the performance of this past wheat crop, although they certainly would have liked to have seen the crop twice as big.
It is his hope that Oklahoma has more crops like this one in the future and thanks to the release of four new wheat varieties out from the Oklahoma Wheat Improvement Team, the potential for that to happen certainly exists. Whether or not this year's crop will rise to occasion is something we'll have to patiently wait on to know for sure but for now, conditions couldn't be better. Hodges says we have not had this much moisture going into planting season for at least the last three years or so. Some areas have gotten more rain than they need, he admits, but overall the situation looks promising.
You can listen to my complete conversation with Hodges as he offers his outlook on the wheat industry as executive director of Plains Grains, and also hear his thoughts through the lens of his Oklahoma Genetics Inc. position, on the new OSU wheat varieties and how they will standout in the marketplace. Just click here to jump to the full article for further reading and a link to the audio of our interview.
|Defeated Republican Candidate Mick Cornett Endorses Kevin Stitt in Oklahoma's Gubernatorial Race
Former Oklahoma City Mayor Mick Cornett, who lost the Republican nomination in Oklahoma's Gubernatorial race to contender Kevin Stitt of Tulsa, released a statement Thursday, endorsing his previous opponent for the office of Governor.
Cornett said in his statement that his campaign was founded in high expectations for Oklahoma's success in resolving topical issues of concern ranging from the improvement of our state's educational system to raising the standard of healthcare. He continued, naming Stitt as the candidate capable of accomplishing that task.
"...we need strong, trustworthy leadership to unify our state and get our fiscal house in order," he stated. "I believe Kevin Stitt is the right candidate to move Oklahoma forward..."
Cornett extended the invitation to his supporters to help him elect Stitt in the upcoming election to be held next month stating, "Please join me in voting for Kevin Stitt on Nov. 6."
Click here to read the full endorsement from Cornett on our website.
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|This N That- Blackjack Female Sale Tomorrow, Deadline to Register to Vote, National Farmers Day and Diamond Hats Gala
BlackJack Farms & Guests Annual Female Production Sale will be happening on Saturday, October 13th, 12:30 PM at the Blackjack Farms in Seminole, OKlahoma.
130 Head Sell as 69 Angus/Simmental/Simangus Lots
The sale will feature quality Angus-Based Genetics with lots from Blackjack Farms, McFerran Farms, Pfeiffer Angus Farms and Simpson Angus Ranch.
Click here to see or download a catalog- or call Keith Grissom at 405-997-9678 or John Pfeiffer at 405-880-0862.
The midterm elections have a real impact on the issues facing America's farmers and ranchers and our rural communities. Make sure you're registered to vote by today's deadline by going to the State Election Board website- click or tap here.
Your best bet to get registered is to go to your local election board- for our friends who live in Rogers County in the Tulsa area- their election board plans to stay open til midnight tonight.
The 2018 mid term election date is Tuesday, November 6.
It's National Farmers Day- and based on what I am seeing on Social Media- it's a big deal in Great Britain- and to a lesser extent in our country- however- the dairy industry has embraced the day- and several northeast Dairy producers are set up in the crowd to be seen on the NBC Today show this morning.
For our part- I am grateful for the men and women that we get to work with across the state of Oklahoma and beyond that are a part of the farm and ranch community. You gamble and deal with the weather, roller coaster markets, global trade wars, armyworms and so much more to feed and cloth our country and much of the world.
Thank You- Thank You- Thank You.
I am honored to be a small part of your day as you read our information each day- listen to us on the radio and perhaps follow our coverage of the farm and ranch community regularly.
I look forward to celebrating tomorrow night with the Diamond Hats as they put on their annual Gala at the National Cowboy and Western Heritage Museum in Oklahoma City- it starts at 6 PM- and they have asked that I help by emceeing once again- it's gonna be fun- and we intend to raise a lot of money to support the 4-H and FFA youth that show their livestock at the annual Oklahoma Youth Expo each March.
|Our thanks to Midwest Farms Shows, P & K Equipment, Livestock Exchange at the Oklahoma National Stockyards, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Oklahoma Pork Council, 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!
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