~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Oklahoma's latest farm and ranch news
Your Update from Ron Hays of RON for Friday August 12, 2011A service of Johnston Enterprises, P & K Equipment/ P & K Wind Energy and American Farmers & Ranchers Mutual Insurance Company!
-- Oklahoma Spring Planted Crops Hammered By Exceptional Summer Drought of 2011
-- USDA Announces Project to Encourage Development of Next-Generation Biofuels
-- Secretary Tom Vilsack Re-Appoints Oklahoman to Sorghum Board
-- More People Notes- Ron Elliot, Rick Perry and Jeff Krehbiel
-- Producers May Get Income Tax Relief for Drought Sale of Livestock
-- Certified Angus Beef has Record Sales Proving Value in Beef Industry
-- Final Call for Southern Plains Beef Symposium and More From the Calendar
-- Let's Check the Markets! (INCLUDING HIGHER CASH CATTLE TRADE)
Here's your morning farm news headlines from the Director of Farm Programming for the Radio Oklahoma Network, Ron Hays. We are pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update- click here to go to their AFR web site to learn more about their efforts to serve rural America!
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Oklahoma Spring Planted Crops Hammered By Exceptional Summer Drought of 2011
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~On Thursday morning, USDA released the latest Crop Production report showing wheat, corn and soybeans all coming in with lower numbers than expected.
The corn crop is pegged at 12.914 billion bushels and also lowered the yield number to 153 bushels per acre, both numbers much lower than what the trade was expecting. The soybean crop also came in lower at 3.056 billion and a yield of 41.4 bushels per acre.
The new crop ending stocks also came in lower for the corn and soybeans
but all wheat came in as expected. This morning's numbers look friendly
for the markets today, however, a lot could depend on outside market
influence such as the DOW.
Here are some of the key numbers from the 2011 Oklahoma crops- as well
as our hay production for 2011.
Grain Sorghum- OKlahoma produced 13 million bushels a year ago- the
forecast for this year- 3.77 million bushels- a drop of
Click here for more details of both the Oklahoma and national crop production numbers released Thursday morning by USDA.
USDA Announces Project to Encourage Development of Next-Generation Biofuels
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Francie Tolle, executive director of the Oklahoma Farm Service Agency (FSA), announced USDA's seventh Biomass Crop Assistance Program (BCAP) Project Area to provide financial incentives to interested farmers, ranchers and forest landowners for the voluntary establishment and production of biomass crops for conversion to cellulosic liquid ethanol.
The boundary for the project is a 6-county area located in Kansas and Oklahoma. Eligible counties are: Grant, Haskell, Morton, Seward and Stevens County in Kansas; and Texas County in Oklahoma.
Producers can learn more about the BCAP Project at a public information
USDA announced that Abengoa Bioenergy, LLC, will get the seventh BCAP project to encourage producers in the Kansas and Oklahoma project area to grow large quantities of energy crops.
Click here for more information on the USDA BCAP program for farmers
Secretary Tom Vilsack Re-Appoints Oklahoman to Sorghum Board
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Agriculture Secretary Tom Vilsack announced five appointments to the Sorghum Promotion, Research, and Information Board.
"These appointees represent a cross section of the sorghum industry and I am confident that sorghum producers will be well served by them," said Vilsack.
Re-appointed to the Sorghum Promotion, Research and Information Board is Louise Rigdon of Blackwell, Okla. The full list of appointed members representing sorghum producers are: Louise Rigdon, At-large from Oklahoma; Stewart Weaver, At-large from Arkansas; Adam Baldwin, Kansas; John Devoracek, Nebraska; and Dale Murden, Texas.
The board is structured so that the state with the largest production is allocated five positions. The state with the second largest production is allocated three positions. The state with the third largest production is allocated one position. There are four at-large national positions for which at least two representatives must be appointed from states other than the top three sorghum producing states. The maximum number of producers from one state is limited to six. The appointees will serve terms of three years.
Click here to read more on the upcoming work for the Sorghum Board
More People Notes- Ron Elliot, Rick Perry and Jeff Krehbiel
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We wanted to spotlight several folks in today's email- starting with our friend Ron Elliott. Ron Elliott, professor emeritus and former head of OSU's biosystems and agricultural engineering department was honored by the American Society of Agricultural and Biological Engineers (ASABE) Aug. 10 with one of its highest honors, the John Deere Gold Medal Award. Ron was recognized for his leadership contributions in soil and water engineering as an academic leader, educator, researcher and extender of knowledge. He was a co-founder of Mesonet and has served more than 20 years as co-chair of the Mesonet steering committee. (Our thanks to "Will Rogers" for this tip!)
The current Governor of Texas, Rick Perry, grew up in west Texas farm country- and now there is an of air of excitement swirling around him as the former Commissioner of Ag for that state may signal his intentions to run for the White House this weekend. Whatever your political leanings- you may want to read a very interesting backgrounder on who Rick Perry is- based on his Paint Creek, Texas roots. A London newspaper did a really good job in painting a word portrait of the Governor- click here and take a read. There is a real possibility that Rick Perry might be battling Barack Obama for the Presidency by this time next year.
From time to time, we have been trying to keep you up to date on the status of Jeff Krehbiel, a wheat farmer from Hydro and member of the Oklahoma Wheat Commission. As many of you know- Jeff has been battling brain cancer for going on two years. The initial tumor was removed- but back in the spring, a new growth was detected and it was decided at that time- no treatment would be possible, given Jeff's condition at that time. Jeff continues to stay at Maple Lawn Manor in Hydro- close to wife Karen and daughter Brittany. Karen's most recent post on the long runing blog she has been writing indicates that Jeff is having a harder time than earlier in putting words together in an understandable way. You can jump over to the CheckOnJeff blog- you will need to log in but it's simple and free- and you can read all of Karen's posts. I would ask that you pray for our friend Jeff- and for his wonderful family as he continues this walk down this very difficult road.
Producers May Get Income Tax Relief for Drought Sale of Livestock
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~If you have sold more livestock than normal due to the drought or other weather related conditions, there are a couple of income tax provisions that may provide some relief. According to J C. Hobbs, Oklahoma State University Assistant Extension Specialist, each provision may allow a producer to reduce the tax consequences of bunching of income if certain conditions are met. The following information is general in nature.
The first, applies to a producer who has sold more livestock than normal due to the adverse weather. The income from the animals which were sold that were in excess of normal sales may be postponed until the following tax year when the income would have normally been recognized. However certain conditions must be met. The weather related condition must have caused the area to receive a "presidential disaster declaration". In addition the producer's principal business must be farming and use the cash method of accounting. The producer must show that the livestock would normally have been sold in the following year. The weather-related conditions that caused an area to be declared a disaster area must have caused the sale of livestock. This provision applies to any livestock sold in excess of normal due to weather related conditions.
The second provision only applies to breeding, dairy, or draft animals that were sold in excess of normal. For the animals sold in excess of normal, a producer may elect to replace the animals sold, within a two year period, with like animals and thus defer the recognition of income until the new animals are sold. Unlike the first rule, there is no need for a disaster declaration, all that is needed is proof that drought conditions existed which caused the sale of additional animals. However if an area has received a presidential disaster declaration, the replacement period is four years not two.
Click here to learn more about potential tax relief for producers
Certified Angus Beef has Record Sales Proving Value in Beef Industry
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Beef prices have been relatively high for the past couple of months, but that is not stopping consumers from looking at high quality cuts of beef. The Certified Angus Brand sold a total of 70 million pounds of beef in June, which is an all-time monthly record in the company's 33 year history.
John Stika, CAB President, says this shows the sustainablity of a program focused on quality even in a tough economy. The record-setting month of June is 4.3% more than June 2010 and 10 million pounds better than June 2009. This moves the company towards a sixth consecutive year of sales gain.
Stika says the real significance of these sales is it communicates to the beef industry to the producers that the consumer is willing to pay more for a product that fulfills their expectations. This is a result of a shared effort from merchandisers to producers says Stika.
Click on the LINK below to watch the rest of the video on Certified Angus Beef and to hear more John Stika.
Click here to watch the CAB video on record sales and growth in the industry
Final Call for Southern Plains Beef Symposium and More From the Calendar
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~I hope you are making plans to come to Ardmore on Saturday for the 2011 edition of the Southern Plains Beef Symposium- it's really going to be an excellent program with several great keynoters (Click here to read more about the program) and there will also be a steak lunch, an excellent trade show and a chance to win a cattle chute from Prefiert valued at $4,400- which is the great door prize. I will be emceeing the morning part of the program- and look forward to seeing many of you on Saturday in Ardmore! By the way- we will be TWEEETING from the Southern Plains Beef Symposium to share a few tidbits with you if you can't make it.
We have about three dozen events on our calendar for the second half of August- a drought survival seminar in Antlers for example that happens this coming Monday- Town Hall meetings with Congressman Tom Cole and Senator Tom Coburn this next week (Frank Lucas has some planned later in the month) and of course, next Friday- we have the annual Wheatland Stocker Conference in Enid, which is always an excellent cattle industry event.
Click on the LINK below for our complete calendar as found on our website, www.OklahomaFarmReport.Com. And remember- if you have calendar events, please shae them with us by emailing me at firstname.lastname@example.org.
Click here for our Calendar pages as found at OklahomaFarmReport.Com
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Let's Check the Markets! (INCLUDING HIGHER CASH CATTLE TRADE)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~We've had requests to include Canola prices for your convenience here- and we will be doing so on a regular basis. Current cash price for Canola is $12.15 per bushel- as of the close of business yesterday, while the 2012 New Crop contracts for Canola are now available are $12.24 per bushel- delivered to local participating elevators that are working with PCOM.
Here are some links we will leave in place on an ongoing basis- Click
on the name of the report to go to that link:
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