Oklahoma's Latest Farm
And Ranch News
|
|
Your Update from Ron Hays of RON
Friday, November 5, 2021
|
|
|
|
Here is your daily Oklahoma farm and ranch news update.
- 80th Annual Meeting of the Oklahoma Farm Bureau Underway in Norman
- Tom Fanning Contrasts Cash Trade vs. Negotiated Grid Pricing
- Latest Drought Monitor Report Shows Rain Improving Drought Conditions in Eastern Oklahoma
- CHS Reports Fiscal Year 2021 Net Income of $554.0 Million
- OSU's Kim Anderson Says Grain Prices Keep Rising
- U.S. Animal Protein Increasingly Dependent on Diversified Export Market
- Cole to Host Telephone Town Hall
- Bonus Reading for the Weekend- Check Out the Numerous Links at toward the bottom of the Email
|
80th Annual Meeting of the Oklahoma Farm Bureau Underway in Norman |
Oklahoma Farm Bureau is excited to return to a traditional in-person convention after hosting an online meeting last year. The 2021 gathering officially kicks off today and runs through Sunday midday at the Embassy Suites Hotel and Conference Center in Norman.
At the three-day convention, the organization will recognize member achievements, set grassroots policy, elect leaders and hear from state and industry leaders.
At their opening general session this afternoon- the group will hear from Governor Kevin Stitt, Oklahoma Attorney General John O'Connor and the new President of Oklahoma State University, Dr. Kayse Shrum.
Saturday will feature their delegates setting policy by considering some 80 resolutions that started at the local county level and were massaged by the State Resolutions Committee a few weeks back. After that meeting, I talked with Steve Thompson, their Senior Director of Public Policy, about the process and several of the key issues the delegates will be facing- click here to listen to our conversation on the policy process.
Saturday will also feature the annual Presidential address by current OkFB President Rodd Moesel- and that evening- the annual awards banquet will feature Oklahoma State Secretary of Ag Blayne Arthur addressing the group.
Sunday morning- Oklahoma Senator James Lankford will speak at the group's final session- their time time to gather in a worship service.
|
The vision of the Oklahoma Beef Council is to be a positive difference for Oklahoma's farming and ranching families and the greater beef community and its mission is to enhance beef demand by strengthening consumer trust and exceeding consumer expectations.
And Check out this video that helps you learn more about the Beef Checkoff- as we explain who decides what the Checkoff funds.
|
Tom Fanning Contrasts Cash Trade vs. Negotiated Grid Pricing |
Tom Fanning, a feedlot manager with Buffalo Feeders, was good enough to explain exactly what the negotiation process looks like when talking about negotiated grid sales.
“Each week, if I have cattle that they want to buy, we negotiate the base price … then they ask me, ‘now that we have negotiated the base price, how do you want to sell the cattle - cash or the grid?’”
Fanning said if he chooses grid, all the specs, premiums and discounts have already been agreed on. At that point he picks, he added.
“Therefore, we have negotiated the base price, on a specific day, at a specific time for the cattle they are going to own and they have to deliver those within seven days - just like normal,” Fanning said. “But we get an opportunity to add value to that set of cattle, if they are high-value cattle and get premiums - especially with this choice-select spread that we have seen going through this fall.”
|
Latest Drought Monitor Report Shows Rain Improving Drought Conditions in Eastern Oklahoma |
According to the latest U.S. Drought Monitor report, Oklahoma saw rainfall improve drought conditions across much of the eastern part of the state, with some locations receiving more than 150% of normal precipitation during the seven-day period. At the same time, high winds and higher-than-normal temperatures helped drought conditions persist across much of the state. (Click on the map above to see details of the latest Drought Monitor at the state level)
According to data as of Oct. 27, to Nov. 2, 2021, drought conditions in Oklahoma have slightly improved. Extreme drought conditions did not change since last week’s Drought Monitor report. Severe drought conditions improved just a 10th of a percent. Moderate drought conditions or worse decreased from 40.7% to 36.8%. Abnormally dry conditions or worse decreased from 94.9% to 82.1%. Extreme drought conditions remain in Beaver, Cimarron, Harper and Woods counties. Severe drought conditions remain in the Panhandle, northwest and southwest areas in the state and the Tulsa area.
The 6-to-10-day precipitation outlook map shows eastern Oklahoma is likely to receive above-normal precipitation, while western Oklahoma is set to receive normal-to-low amounts of precipitation. The 6-to-10-day temperature outlook map shows Oklahomans can expect higher-than-normal temperatures for this time of year.
According to the Monthly Drought Outlook map, drought condition improvement and removal is likely for much of the Pacific Northwest. In the remainder of the West and Great Plains, drought is expected to persist or further develop.
|
|
For our farmers who have either- always have had cotton on their farms- or those who have more recently have added the fiber crop to their operations- we have a new daily report starting to be heard on several of our Radio Stations- It's Called Cotton Talk- and we appreciate the Oklahoma Cotton Council for their support in making this a reality.
Click on the Button below to listen to our most recent report
|
|
CHS Reports Fiscal Year 2021 Net Income of $554.0 Million |
CHS Inc., the nation's leading agribusiness cooperative, today reported net income of $554 million for the fiscal year ended Aug. 31, 2021, reflecting an increase of 31% or $131.5 million compared to fiscal year 2020.
Key financial drivers for fiscal year 2021 include:
- Consolidated revenues of $38.4 billion for fiscal year 2021 compared to $28.4 billion for fiscal year 2020, a year-over-year increase of 35%.
- Significantly improved earnings across our Ag segment compared to the prior year driven by strong global demand for grains and oilseeds which drove commodity prices higher and a full year of improved trade relations between the United States and foreign trade partners.
- Equity earnings from investments, particularly from CF Nitrogen and Ventura Foods, were a significant source of earnings during fiscal year 2021.
- While improved refining margins in our refined fuels business resulted in increased margins as demand shocks from the COVID-19 pandemic began to subside, the resulting margin improvements were more than offset by exceptionally high costs for renewable energy credits and less favorable pricing on heavy Canadian crude oil processed by our refineries, resulting in lower earnings.
|
|
We invite you to listen to us on great radio stations across the region on the Radio Oklahoma Ag Network weekdays-
if you missed this morning's Farm News - or you are in an area where you can't hear it- click below for this morning's Farm news from Ron Hays and KC Sheperd on RON.
|
Sponsor Spotlight
Oklahoma AgCredit supports rural Oklahoma with reliable and consistent credit, today and tomorrow. We offer loans for land, livestock, equipment, operating costs and country homes (NMLSR #809962) to farmers, ranchers and rural businesses across 60 counties. As a cooperative, we are owned by the members we serve. Through our Patronage Program, we have returned more than $74 million to our members since 1997.
For more information on our services or to find a location near you, visit our website here.
|
|
|
OSU's Kim Anderson Says Grain Prices Keep Rising |
This week on SUNUP, Oklahoma State University Grain Marketing Specialist Kim Anderson talks about how grain prices keep going up.
In July, wheat was going for $5.96; from there the price could climb or drop up to 30 cents in a day, according to Anderson. By the middle of August, he said wheat prices were averaging around $7.17. This week, prices are hitting $7.75, he added.
Corn and soybeans follow. In August, corn prices were around $5.00, now corn prices are up to $5.65. Soybeans were around $11.30 in the middle of August, now they are up to $12.00.
“If you look at cotton on September 20, we had 89-cent cotton earlier this week,” Anderson said. “Now, we are at $1.16.”
According to Anderson, supply and demand and uncertainty are what is driving these prices up.
|
U.S. Animal Protein Increasingly Dependent on Diversified Export Market |
Over the last two decades, U.S. animal protein exports have nearly tripled, growing from $7.4 billion to $20.7 billion. That growth is largely the result of successful industry marketing programs and shrewd government trade negotiations. Today, exports account for 10%-30% of U.S. animal protein production, depending on industry segment.
According to a ’new report from CoBanks Knowledge Exchange trade policy remains a vital component to building consistent and reliable export markets, and the U.S. needs to be at the negotiating table as new trade developments unfold. The recent nomination of a chief agriculture negotiator with the Office of the U.S. Trade Representative is an important step in that direction.
The Trump administration’s harder line on trade, continued by the Biden administration, has led to mixed results for U.S. agriculture. Agricultural exports to China have flourished under the Phase One agreement, but the U.S. withdrawal from the Trans-Pacific Partnership (TPP) has likely resulted in lost opportunities for U.S. exporters.
|
Cole to Host Telephone Town Hall |
Congressman Tom Cole announced yesterday that he will host a constituent telephone town hall to discuss and answer questions about the latest legislative news and updates from Congress.
“During the last several weeks in Congress, all eyes have been on Democrats and their failed attempts to finalize and advance a big government spending package and fiscally irresponsible infrastructure bill,” Cole said. “To provide my perspective and answer questions on a wide range of topics, I look forward to connecting with my constituents during my next telephone town hall.”
|
Bonus Reading for Your Weekend |
|
OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
|
Today's First Look:
Ron on RON Markets as heard on K101
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
|
Wholesale Boxed Beef Prices continue to go higher- Choice Beef was up $1.73 and Select Beef was up 50 cents on Thursday, November 4th.
Click on the Button below for the latest report from USDA Market News
|
Weekly Cattle Auction Reports
The buttons below allow you to check out the weekly Cattle Auctions in the region that we post on our website and here in our daily email update.
|
Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures - click below for the latest update on the Livestock and Grain Futures Trade..
|
Okla Cash Grain:
Daily Oklahoma Cash Grain Prices- as reported by the Oklahoma Dept. of Agriculture- The report available after the close of the Futures Trade for that day.
|
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
KC Sheperd, Associate Farm Director and Editor
Dave Lanning, Markets and Production
Pam Arterburn, Calendar and Template Manager
Chelsea Stanfield, Farm News and Email Editor
|
|
Rural Oklahoma is full of some of the greatest success stories throughout the entire state and is the main reason Oklahoma is on track to become a top 10 state.
The Road to Rural Prosperity will dive into these stories each week, bringing you insight into the great things happening in and to rural Oklahoma. We will bring you stories covering rural life, agriculture, energy, healthcare, tourism, and politics affecting rural America.
The Road to Rural Prosperity is here to tell stories about rural America, for rural America.
KC Sheperd talks with Jed Green, the founder of the group ORCA- Oklahomans for Responsible Cannabis Action. They discuss the problems that have developed in rural Oklahoma because of the explosive growth of medical marijuana production in the state- and of the need for better regulation of the industry- as well as recognition of the economic benefits Green believes are a part of the arrival of this industry- especially in areas where legal operations are being established.
To find out more about our full series of Podcasts on The Road to Rural Prosperity- click or tap here.
To hear this podcast, you can click here or tap below:
|
|
Our thanks to Midwest Farms Shows, P & K Equipment, Oklahoma Farm Bureau, Oklahoma Ag Mediation Program, Great Plains Kubota, Stillwater Milling Company, Oklahoma Cotton Council, National Livestock Credit Corporation, Oklahoma Beef Council, Oklahoma AgCredit, Union Mutual Insurance, 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!
We invite you to check out our website at the link below too that includes an archive of these daily emails, audio reports and top farm news story links from around the globe.
|
|
God Bless!
Reach Out To Us:
|
|
Tim West
President/General Manager
Radio Oklahoma Ag Network
2401 Exchange Avenue,
Suite F
Oklahoma City, OK 73108
405.317.6361
|
|
Ron Hays
Director of Farm Programming
Radio Oklahoma Ag Network
405.473.6144
|
|
|
|
|
|
|
