Almost no moisture fell across Oklahoma the past week, with no Mesonet station recording over a tenth of an inch of rain.  Moisture from the previous week's rain improved wheat in limited areas, but overall wheat conditions declined slightly.  The latest Oklahoma Crop Progress and Condition report show 43 percent of the wheat crop in fair condition, 34 percent in poor shape, 12 percent is listed in good condition.  Eighty-six percent of the state's wheat had emerged by week's end.  Click here for the full Oklahoma report.

It was a dry week in Kansas as well.  Ninety-five percent of the crop had emerged by week's end, identical to last year, but ahead of the 5-year average of 91 percent.  The condition of the crop was six percent very poor, 18 percent poor, 46 percent fair, 29 percent good, and one percent excellent.  The Kansas report is available by clicking here.

Dry weather negatively impacted most recently-emerged small grains, with some fields of wheat showing signs of drought stress while others showed moderate growth despite lack of moisture.  Forty-five percent of the wheat crop was in fair shape, 26 percent was listed as good, 20 percent was in poor condition, and five percent was listed as very poor.  Click here for the Texas Crop Progress and Condition report.

Herd Rebuilding Takes Longer Than You Think; We Are 'Out of Cattle,' Peel Says 

Writing in the latest Cow-Calf Newsletter, Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist, updates an old prediction with stunning new numbers.

Exactly two years ago I wrote an article about the implications of declining cattle numbers ("At What Point Do We Run Out of Cattle", Cow Calf Corner, November 15, 2010) . In that article I suggested that after many years of herd liquidation, we had reached a point where it was not possible to maintain beef production without herd rebuilding. The article suggested that beef production would drop without herd rebuilding and that herd rebuilding would squeeze cattle supplies even more in the short run. The article further suggested that the only possible postponement to those consequences would be the temporary one if more herd liquidation occurred.   

Little did I know that November of 2010 was the beginning of the driest and warmest year in Oklahoma and the Southern Plains . The resulting cow liquidation and preempted herd rebuilding that occurred in 2011 and 2012 bring us to this point where the impacts I anticipated many months ago are now upon us. Feedlot placements have dropped sharply the last four months and feedlot inventories are declining and will continue to decline in the coming months.   In my mind the bigger question is not why we have such a dramatic decrease in feeder cattle supplies now but why it has taken so long for the situation to manifest itself. I believe there are several reasons. 

Click here to read more of Derrell Peel's analysis of the continuing decline of the U.S. cow herd.

Cattlemen Sue Bank Connected with Eastern Livestock- Claiming It Hijacked Millions Of Dollars With Useless Checks

Twenty-two cattle producers, auction markets and cattle dealers in Kentucky and several other states are suing Fifth Third Bank of Cincinnati for what they call "a calculated scheme by a major national financial institution at modern-era cattle rustling," according to The Lane Report.

The lawsuit stems from the bank's relationship with New Albany, Ind.-based cattle broker Eastern Livestock, which filed for bankruptcy in December 2010. The plaintiffs claim Fifth Third, in an effort to enhance its own position, "literally hijacked millions of dollars from the national livestock industry" that was owed to them and others who sold cattle to Eastern Livestock.

Several Eastern Livestock principals accepted a plea deal to indictments brought in 2010 by Kentucky Attorney General Jack Conway. The defendants admitted to engaging in organized crime and criminal collaboration to commit ongoing theft.

The lawsuit claims that Fifth Third's actions-"the interruption and seizure of cattle payments without rendering payment for the cattle to hundreds of unwitting, unpaid sellers"-was "carefully timed and expressly engineered by Fifth Third to conceal its long-running willful misfeasance and malfeasance in connection with a failed $32.5 million structured financing of Eastern, now a debtor in bankruptcy."

To continue reading, click here.

Early, Effective Treatment Necessary for BRD in Drought-Stressed Cattle

The drought in Oklahoma is continuing to take its toll, and Dr. Marc Campbell, a veterinarian with Merial, Ltd., from Pawnee, Okla., says the dry weather and poor forage conditions are really socking it to calves. In the latest Beef Buzz, says the incidence of Bovine Respiratory Disease is up for a number of reasons.

"This year and last year we're having to wean these calves earlier with maybe they haven't had the vaccinations they usually get on their mother because of the drought situation. Then they're drought-stressed because they haven't received, maybe, the nutrients they needed throughout the weaning period or even when they're on their mother.   So, we have seen more BRD or pneumonia this year and last year than we see in a normal year."

Campbell says his company's product, Zachtran, is very effective in treating BRD and is easy to administer.

"It's got a convenient dose: 2 cc per 110 pounds of body weight and the good thing is it's quick-acting and long-lasting. Within 30 minutes of subcutaneous dose, it's in the lungs working. Then it lasts for up to 10 days. It's exactly the right treatment for cattle."

Click here to read more or listen to the latest Beef Buzz with Marc Campbell. 

2012 AFR Fall District Speech Contest Winners Announced

American Farmers & Ranchers  wrapped up the 68th annual AFR Fall Speech Contest series and released a complete list of the winners.  (Click here for the full list.)

The fall contest series gives more than 500 Oklahoma youth from across the state an opportunity to display their public speaking and leadership skills. The fall speech contest is divided into five AFR district contests, giving youth in every part of the state an opportunity to participate. Each speech must include a tie to AFR and to a yearly theme. Competitors in this year's contest wrote speeches based on the theme "I Believe in Oklahoma Agriculture."

At each contest, students grades 4-12 compete in five categories-American Farmers & Ranchers, Natural Resources, Student Organizations, Agribusiness and Agriscience. First and second place winners in each category advance to the state speech contest, resulting in more than 150 finalists advancing. The state contest will be held Dec. 1 at Oklahoma State University in Stillwater.

"The AFR speech contests are an excellent opportunity for students to showcase their talents and their hard work," said AFR Youth and Education Coordinator Lin Farris. "The fall contests give participants another chance to hone their skills in addition to the traditional spring speech season."
 

In this week's beef report with Ed Czerwien of the USDA Market News Office in Amarillo, Texas, the choice cut market ended the week of November 17 at $193.00 cwt which was about $1.10 higher than the previous week and traded in a narrow range all week long.  The daily spot volume was 1,000 loads. The total volume of all cuts, trims and grinds last week was 7,479 loads.

The general trend in the finished cattle trade was mostly steady a dollar higher with live deals at $125 to $126 cwt. Dressed prices were $1 to $2 higher at $196 to $197 cwt.

The average live weight from the cattle harvested in the Texas Panhandle was 1,279 pounds which was nine pounds lower than the previous week.

AND- we remind you that we have market links on the left hand column of our daily email to help you stay on top of the twists and turns our agricultural markets are taking from day to day- those market links are a service of Oklahoma Farm Bureau Insurance- with offices in all 77 counties- an Oklahoma company- and always nearby. Click here for their website to learn about the comprehensive lineup of policies that they can offer. 
 

Holiday Week Schedule for Ag Futures and More

The CME Group now is the dominant player for both livestock and grain futures- and here is their plans for Wednesday through Friday of this week for agricultural futures trading: