COALITION OF AGRICULTURE ORGANIZATIONS URGES ECONOMIC RELIEF FOR ARKANSAS FARMERS
Arkansas agriculture industry stakeholders have joined together to urge the state’s congressional delegation to take immediate action to provide relief from the financial pressures facing farmers in 2024. The coalition, guided by Arkansas Farm Bureau, expressed concern over the escalating economic pressures threatening the viability of the state’s agricultural communities. Citing the widening gap between commodity prices and input costs, exacerbated by high interest rates, the letter describes many Arkansas farmers as being at a crisis point in their operations.
The letter, which lays out economic data points and trends, makes the case for immediate supplemental assistance for Arkansas farmers to bridge the gap between the past two crop years and the implementation of a new farm bill. A copy of the letter and list of stakeholders can be found here.
2024 A r FB RESOLUTIONS
The 2024 state resolutions committee meeting will be held Nov. 6-7 at the Hot Springs Convention Center.
The deadline to submit resolutions to ArFB is Oct. 11.
Economic Impact Of Arkansas Timber Damage From May Tornadoes , Page 2-3
Market News, Page 4
Columbia County Farm Bureau Retirement | The Columbia County Farm Bureau board recently recognized Mike Jones for his 23 years of service as agency manager and 35 years of service to Farm Bureau. A come-and-go retirement celebration will be held from 2-4 p.m. on Aug. 30 at the Columbia County Farm Bureau office in Magnolia for those who would like to celebrate Mike.
White County Farm Bureau Retirement | After 46 years with the White County Farm Bureau, Ronnie McFarland is retiring. A drop-in reception honoring his commitment to Farm Bureau and White County will be held from 2-5 p.m. on Aug. 27 at the White County Extension Office in Searcy. Josh Brumfield will be taking the reins as the new Agency Manager. Brumfield has been with Farm Bureau since 2009 and will continue to serve the people of White County in his new role.
ECONOMIC IMPACT OF ARKANSAS DAMAGE FROM MAY TORNADOES
Arkansas saw a record number of tornadoes touch down in May, causing an estimated $89 million in total economic impacts and potential environmental risk associated with the forest damage experienced in five northern counties.
The National Weather Service (NWS) reported a record number of 17 tornadoes recorded across Arkansas on May 26, with one tornado having a path width of nearly 2 miles in Benton County. The Arkansas Department of Agriculture estimated the tornadoes destroyed $18.4 million worth of timber over 12,400 acres in Benton, Madison, Marion, Baxter and Fulton counties. Given these numbers, the Arkansas Center for Forest Business (ACFB) conducted an analysis of the economic impact of this timber loss, which totaled $89 million. This estimate includes the cost of hazard reduction, loss in labor due to timber not being harvested, carbon storage loss, and losses of both local and state tax revenues.
To support landowners in this area, the AFCB prepared the economic losses experienced in the five northern counties. This led to the Division requesting financial support from United State’s Department of Agriculture Farm Service Agency (FSA) to assist landowners in the area.
While the economic impact on the surrounding communities is devastating, the environmental impact of not properly caring for the fallen timber could be detrimental to the ecosystem. According to Dr. Matthew Pelkki, Director of the ACFB and Professor at the UA Monticello, these lands are very susceptible to seeing an infestation of negative pests and fire hazards.
“The potential is that the chemicals released from a dead or
CONFIRMED CASE OF EASTERN
A positive case of Eastern Equine Encephalomyelitis (EEE) has been confirmed in Ouachita County.
No other horses were exposed to the infected horse. The Arkansas Livestock and Poultry Division’s Animal Health Section communicated with the primary party and notified other officials of active equine venues within the area.
Eastern Equine Encephalomyelitis is an extremely rare but serious and fatal infection that causes encephalitis, an acute inflammation of the brain. The disease is spread by biting insects, primarily mosquitoes and flies, that have bitten birds infected with EEE virus. Insect control and vaccination are the recommended preventative measures.
This disease can infect a wide range of animals other than horses, including other mammals, birds, reptiles and amphibians. While humans can also contract the disease
TORNADOES ESTIMATED AT $89 MILLION
recently killed tree are going to attract insects, which in a natural scenario is not necessarily a bad thing. However, in this scenario, there is a potential to draw in populations of insects that are detrimental to our forest,” said Pelkki. “Insects such as bark beetles and red oak borers could thrive in the fallen timber and then start affecting living trees around the area. Then, there is also a fire hazard. We have a lot of dead, down material that will dry out and create a fire hazard.”
The Arkansas Center for Forest Business encourages landowners to be proactive with land management efforts.
Inquiries about financial assistance from FSA for landowners from the affected region can be directed to the Arkansas Department of Agriculture Division of Forestry. The Arkansas Center for Forest Business is also available to provide landowners with valuable information and connections to assist with land management. More information about the Arkansas Center for Forest Business can be found on their website.
EQUINE ENCEPHALOMYELITIS
through biting insects, they cannot get the disease through direct contact with an infected animal.
The Arkansas Department of Agriculture Livestock and Poultry Division is urging owners to closely monitor their equine for early clinical signs, which include loss of appetite, decreased activity and depression. Clinical signs can be subtle and progress to tremors, paralysis, altered mental state and stumbling (ataxia). Some affected horses die within a few days. Surviving animals may have residual nerve deficits.
The disease is preventable through regular vaccinations and by developing a good pest management program. Owners should contact their regular veterinarian for more information and to report any nervous system signs. Those without a regular veterinarian should call the Arkansas Department of Agriculture Livestock and Poultry Division at 501-225-1598 if any horses show clinical signs.
Grant County Farm Tour | Recently, Marks and Hannah Mitchell, in Grant County, hosted the Yellowjackets and their friends from all over the county for a farm tour. During the tour, the Mitchell family shared some insight into their commercial poultry breeder farming program.
De Queen Animal Science Facility | The De Queen School District recently broke ground on a new animal science facility on campus. This facility will provide students hands-on learning experiences and the ability to gain certifications to further their education in agriculture.
MARKET NEWS
as of August 20, 2024
Contact Brandy Carroll brandy.carroll@arfb.com
Tyler Oxner tyler.oxner@arfb.com
Rice
Rice futures charted a huge bullish outside trading day to open the week. Weakness in the dollar and carryover strength from other markets helped fuel the rally. Follow-through strength on Tuesday resulted in prices trading back above $15. A close above that level could signal a retest of resistance in the $15.35 area for September. However, harvest is underway and that is likely to limit the upside potential of the market. As of August 18, Arkansas farmers had harvested 9% of the crop, while 21% of the crop nationally is in the bins. 79% of the remaining crop is rated good to excellent. In the August production and WASDE reports, USDA reduced the production estimate to 220.8 million cwt, with the long-grain crop estimate lowered to 167.2 million cwt. 2024/25 long-grain ending stocks were lowered to 23.2 million cwt, down from 24 million in the July report, but up from 2023/24 ending stocks of 17 million. The 2024/25 longgrain average price was unchanged this month at $14.50.
Cotton
Cotton finally received a bit of good news in the August production and WASDE reports. USDA cut its U.S. production estimate to 15.1 million bales, down from 17 million bales in the previous report. The reduction was due to a lower harvested acreage estimate and a cut to expected yield. USDA now estimates the average yield to be 840 lbs/acre. That’s down from 844 lbs/acre in the previous report and an average of 899 lbs/ acre for the 2023 crop. A 1 million
bale reduction in projected exports partially offset the reduction in production, resulting in a 800,000 bale reduction in the 2024/25 carryout estimate, which is now pegged at 4.50 million bales. However, USDA again lowered the 2024/25 average on-farm price estimate to 66 cents/lb. Cotton futures continue to trend lower, but have posted modest gains this week. A close above 70 cents would be a positive sign, and there is technical resistance at 71 cents and 73 cents that would become the next upside objectives.
Corn
September and December corn prices set a new contract low last week, but the USDA supply/demand balance sheet shows corn supplies are less burdensome than wheat and beans. The big news from the August WASDE for corn was the increased projected yield, which has now reached record levels, at 183.1 bushels per acre. This yield increase was largely offset by a decrease in acreage (down 728,000 to 82.7 million), bringing projected production to 15.147 billion bushels, slightly above expectations. While traders and fund managers are looking at the higher yields, the weather forecast does not look the best for finishing the crop for much of the corn belt. For all but the Northern Plains, the forecast looks to turn hotter and drier with a ridge setting up in the central Midwest. For the near term both September and December contracts have support at the low set last week (Sep24 $3.67/Dec24 $3.90). Resistance for both contracts is at the 50-day moving average (Sep24 $4.05/Dec24 $4.20). The Crop Progress report continues to be unchanged showing that 67% of the crop is in good to excellent condition, still well above average.
Soybean
Bearish fundamentals remain a significant problem for the bean market, and USDA’s record yield projection and ballooning new crop
U.S. carryout will keep sellers active on rallies. Like corn, U.S. soybeans were also forecasted to have record setting yields at 53.2 bushels per acre. Harvested acres are now projected to increase by 1 million to 86.271 million, contrary to expectations of a 150,000acre reduction. This is expected to result in a record production of 4.589 billion bushels. Warmer and drier forecasts look to be ahead for most of the northern belt. Should this pattern continue into late August and early September we could see yield prospects decline. Just like corn, soybeans put in a new contract low of $9.55. This low will now be considered support while the 50-day moving average of $10.64 being resistance. Soybean conditions remained at a favorable 68% good to excellent, while traders were expecting a small decline, which is typical for this time of year.
Livestock and Poultry
In the Augusts WASDE the forecast for 2024 beef production estimates were increased on higher slaughter totals that offset lighter weights. Pork production was reduced on lower slaughter and reduced weights. Broiler and egg production estimates were raised for the end of 2024, reflecting recent production and hatchery data, while turkey production was lowered. Price forecasts for 2024 were raised for cattle, hogs, broilers, and eggs, reflecting higher than expected prices through July.
Dairy
The milk production forecast for 2024 was lowered in the August WASDE. Import estimates for fat and skim solids were reduced from last month. The price forecasts for 2024 cheese, NDM, and whey were all raised on recent price strength. The all milk price was raised to $22.75/cwt.
