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markets as analyzed by Justin
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Cash Grain Prices - as reported by the Oklahoma Dept. of
Agriculture. (including Canola
prices in central and western Oklahoma)
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Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Tuesday, November 10, 2015
Oklahoma Angus Breeder John Pfeiffer Elected Chairman of
Certified Angus Beef
have experienced a roller coaster ride this year with volatile cattle
prices. One factor that is helping moderate these wild price
fluctuations has been branded beef programs, like Certified Angus
Beef (CAB). The new CAB Board Chairman is John Pfeiffer,
an Angus producer from Mulhall, Oklahoma. He said data has shown CAB
has returned on average $50 per head back to the producer in added
premiums. In this latest cattle market downturn, he said some feedlot
cattle would have lost more money without CAB premiums.
With herd expansion taking place across much of the nation, Pfeiffer
said the challenge is to continue to breed cattle with the best
genetics to produce high quality beef. In the 1970's, the CAB
acceptance rate would have been around seven to eight percent. This
past year, some months averaged over 30 percent acceptance. Pfeiffer
credits the work CAB has done in working with commercial cattle
producers to purchase better genetics for improved marbling and
Looking ahead, Pfeiffer wants to see domestic and international
demand for CAB to grow. Ever since joining the board four years ago,
he has wanted to see CAB sell a billion pounds of product in one
year. CAB has to sell 83 billion pounds a month to meet that goal.
CAB started the new fiscal year in October by selling 89-billion
pounds. Pfeiffer said that billion pound goal is attainable with more
cattle numbers in feedlots, so he thinks there is enough high quality
beef to hit that target.
We caught up with John and his family last week at the Angus Means
Business Convention- we have known John since the days of Class One
of the Oklahoma Ag Leadership Program- we are both Alums of Class One
and it's always great to have yet another example of how OALP helps
get folks in Oklahoma agriculture ready to serve
or tap here to listen to our full conversation with John.
One other Pfeiffer family note- we also enjoyed talking with John's
Pfeiffer- who has just completed his first year as a
member of the Oklahoma legislature. We talked about all of the
issues that state lawmakers will be facing when they crank up the new
legislative session early in 2016- and it's great to see a young man
who really understands what it means to serve involved in our state
legislative process- State
District 38 has got a dandy.
presenting sponsor of our daily email is the Oklahoma Farm Bureau
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Improving the Lives of Rural Oklahomans." Farm Bureau, as
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with other groups to make certain that the interests of rural
Oklahoma are protected.
the 2015 annual Convention of the Oklahoma Farm Bureau kicks off this
Friday in downtown Oklahoma City- details are available on their
US Wheat Associates
Analysis Shows Each Dollar Invested in Foreign Promotion Returns $45
to Wheat Producers
U.S. wheat producers invested an average of $4.9
million in checkoff funds per year to promote their milling wheat
overseas between 2010 and 2014, and for every one of those dollars
they received up to $45 back in increased net revenue. That is a
principal conclusion of a new economic analysis of wheat export
promotion released today by U.S. Wheat Associates (USW).
USW commissioned the study with funding from the USDA/Foreign
Agricultural Service (FAS) Market Access Program. Dr. Harry M. Kaiser,
the Gellert Family Professor of Applied Economics and Management at
Cornell and director of the Cornell Commodity Promotion Research
Program (CCPRP), designed and conducted the research using
established methods from his 30 years of research experience.
"The study showed that investing in U.S. wheat export promotion
had a large and beneficial impact for producers and the economy that
far exceeded its cost," Dr. Kaiser said. "The econometric
models we used showed that between 2010 and 2014 the total investment
in wheat export promotion by farmers and the government increased
total annual gross revenue by $2.0 billion to $3.0 billion. So for
every $1 farmers and the government invested, the estimated return in
gross revenue was between $112 and $179." Dr. Kaiser added that
the most likely annual return is about $149 for each dollar spent
based on USDA supply elasticity studies. Click
here to read more about the results of this study.
Nation's Corn, Soybean
and Sorghum Harvest Almost Complete, Wheat Crop Condition Improving
Fall harvest and wheat planting has nearly wrapped up
across much of the United States. On Monday, the U.S. Department of Agriculture
reported the nation's corn harvest was 93 percent complete. That's
five points ahead of the five-year average. Soybean harvest was 95
percent complete. Sorghum was 85 percent harvested. That's three
points ahead of average. Peanuts were 77 percent harvested. That's 11
points behind average. Cotton harvest was 58 percent complete. That's
seven points behind average.
The US wheat crop continues to lag the conditions ratings of a year
ago- but did show some improvement this past week. Here is the
southern plains- Oklahoma,
Kansas and Texas wheat crop conditions all improved from a week ago-
because of beneficial moisture. Oklahoma showed the most
improvement from week to week- going from 38% good to excellent in
the November first report to 46% good to excellent in the report
dated November 8 and released yesterday afternoon.
for the full National Crop Progress report.
here for the full Oklahoma report.
here for the full Texas report.
here for the full Kansas report.
USDA Expands Investment
in Water Conservation and Improvement in the Ogallala Aquifer
U.S. Agriculture Secretary Tom
Vilsack Monday announced USDA will invest
$8 million in the Ogallala
Aquifer Initiative (OAI) in Fiscal Year 2016 to help
farmers and ranchers conserve billions of gallons of water annually
while strengthening agricultural operations. The eight-state Ogallala
Aquifer has suffered in recent years from increased periods of
drought and declining water resources.
"USDA's Ogallala Aquifer Initiative helps landowners build
resilience in their farms and ranches and better manage water use in
this thirsty region," said Vilsack. "Since 2011, USDA has
invested $74 million in helping more than 1,600 agricultural
producers conserve water on 341,000 acres through this
The Ogallala Aquifer is the largest aquifer in the U.S. and includes
nearly all of Nebraska and large sections of Colorado, Kansas, New
Mexico, Oklahoma, South Dakota, Texas, and Wyoming. It is the primary
water source for the High Plains region. Covering nearly 174,000
square miles, it supports the production of nearly one-fifth of the
wheat, corn, cotton and cattle produced in the U.S. and supplies 30
percent of all water used for irrigation in the U.S.
One of the projects that will be focused on by USDA is the Oklahoma Ogallala Aquifer
Initiative: This project will help landowners
implement conservation practices that decrease water use. It includes
an educational component that will educate citizens about water
conservation and conservation systems. These systems include
converting from irrigated to dryland farming and conservation
practices that improve irrigation water management; crop residue and
tillage management; nutrient and pesticide management, and grazing
systems; and playa wetland restorations.
Water levels in the region are dropping at an unsustainable rate,
making targeted conservation even more important. From 2011 to 2013,
the aquifer's overall water level dropped by 36.0 million acre-feet,
according to the U.S.
Geological Survey. Click
here to read more about the new focus areas of USDA's Ogallala
We are proud to
have KIS Futures
as a regular sponsor of our daily email update. KIS Futures provides
Oklahoma farmers & ranchers with futures & options hedging
services in the livestock and grain markets- click here for
the free market quote page they provide us for our website or call
them at 1-800-256-2555- and their iPhone App, which provides all
electronic futures quotes is available at the App Store- click
here for the KIS Futures App for your iPhone.
Peel Analyzes World Beef Trade:
Derrell S. Peel,
Oklahoma State University Extension Livestock Marketing Specialist,
writes in the latest Cow/Calf Corner newsletter.
Among top global beef exporters, the 2016 market situation is quite
variable according to the latest USDA World Markets and Trade report
for livestock and poultry. India passed Brazil in 2014 to become the
number one beef exporter in the world. India, which
exports mostly meat from water buffalo (also known as carabeef)
continues to see strong demand from southeast Asia and the halal
processing of Indian beef makes the meat popular in Muslim countries.
Indian beef exports, which have increased over three-fold in the last
six years, are expected to increase again in 2016 keeping India as
the top global beef exporting country.
Brazil is expected to regain the number two position in global beef
exports in 2016 with an increase in exports from the 2015 level but
still below the record level of 2014. Brazil overtook Australia in
2004 as the leading beef exporter, losing that position back to
Australia for one year in 2011, before being overtaken by India in
2014 and also by Australia again in 2015. Brazil's weak currency is
expected to boost 2016 beef exports but the weak Brazilian economy
will limit both beef production and domestic consumption, keeping
Brazil as the number two beef exporter in 2016. Click
here to read more about the export outlook for Australia, the
United States and other countries.
to Have the Latest Energy News Delivered to Your Inbox Daily?
broadcast journalist Jerry
Bohnen has spent years learning and understanding how
to cover the energy business here in the southern plains- Click here to
subscribe to his daily update of top Energy News.
Branded Beef Programs Helping
Drive Profitability for Beef Cattle Producers- Lance Zimmerman of
The Angus breed is the most popular breed of cattle in
America and indeed the world. That's according to cattle
registrations and other measurements. One of the reasons for the
popularity of the breed is their branded beef program, Certified Angus Beef
Market Analyst Lance
Zimmerman said it's amazing to see what higher
quality programs like CAB have done for the industry. For example,
last week the percent choice grading percentage on U.S. slaughter
facilities was 68 percent. Zimmerman said these quality levels have
not been seen since 1991. In looking at the nation's growing consumer
base, he said millennials are eating the highest quality beef in
"As we go forward, the opportunities we're going to continue to
see in this industry through the branded segments through the higher
quality beef production are going to yield that much more of a return
for us going forward," Zimmerman.
I caught up with Zimmerman at the Angus Means Business Convention in
Overland Park, Kansas. Click
or tap here to listen to today's Beef Buzz.
This N That- Vilsack to
Havana, Linda Cline Profiled as a DASNR Champ and USDA Crop Report
US Secretary of
Vilsack is skipping one of the meetings that we
always attend in November and will instead head to Cuba tomorrow for
four days of meetings with Cuba government officials, Agribusiness
types and the chance to see port facilities and cooperatives.
It's an interesting
group of lawmakers going with Mr. Vilsack- as three of the four are
from the Pacific Northwest- not exactly the part of the country that
will benefit from trade with the Castros.
If you have
interest in keeping up with the Secretary while he heads to Cuba- the
USDA suggests you follow #USDAPress on Twitter.
You may be
asking- what meeting did I mean?- The National Association of Farm Broadcasters
annual convention- a meeting held each year in Kansas
City and is a default stop normally for Secretaries of Ag because it
gives them a huge audience of farm media in one easy stop.
We will be there
tomorrow through Friday- and reporting from there as the week wears
We have been
taking time to spotlight the six individuals honored this fall by the
Division of Agriculture at Oklahoma State University for their unique
service to the University and to agriculture in our state and nation.
Three of the honorees were alums and three were not- but still have
gone above and beyond in supporting OSU's Division of Ag.
One of these
folks we wanted you to meet this morning via video is Linda Cline-
she was one of the DASNR Champions this year- and you can click on
the play button in the video box to learn more about her tremendous
contribution to the equine program at O-State.
This morning at
11:00 AM Central Time- USDA will roll out the Crop Production numbers
as of November first- analysts tells us that historically- the USDA
will likely not make any changes to acreage in this report.
We will be
getting both a USDA Crop Production Report from NASS as well as the
monthly WASDE numbers from the Economic Research Service that will be
released at the same time- we are planning on Tom Leffler
sorting thru these reports for us after they are released and his
analysis will be posted on our website this afternoon- and we will
feature highlights from the report tomorrow in our daily email.
thanks to Midwest Farms Shows, P & K Equipment, American Farmers
& Ranchers, CROPLAN
by Winfield, KIS Futures, Farm Assure, Stillwater Milling Company, Pioneer Cellular, National Livestock
Credit Corporation and Oklahoma Cattlemen's Association
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