Farm Bureau is proud to offer a new way of accessing healthcare with our exclusive Farm Bureau Health Plans of Arkansas. Designed specifically to fit your lifestyle, our plans provide a flexible and affordable alternative to traditional insurance options under the Affordable Care Act.
Our health plans give members the freedom to choose the coverage that best fits their unique needs and budget. Benefits include affordable monthly premiums, predictable copays, comprehensive prescription drug coverage and protection against high costs from unexpected illnesses or accidents. Unlike ACA insurance, our plans aren’t bound by federal guidelines, offering members more control over their healthcare decisions.
To learn more about Farm Bureau Health Plans of Arkansas, contact your local agent or find one near you by visiting ArFBHealthPlans.com.
Arkansas Farm Bureau’s 2024 Ag Innovation Challenge, a competition for startup businesses developing innovative solutions for farmers, ranchers and rural communities, will accept applications through Nov. 8. Farm Bureau partners with the Farm Credit Associations of Arkansas to sponsor the annual statewide contest. Challenge applicants must represent a for-profit business and submit a business plan, business pitch, product images and other assets for review. Judges will review all applications and
The winners of the inaugural Arkansas Ag innovation challenge were Anvil Metals of Gasville.
Arkansas Agriculture Hall of Fame Seeking Class Nominations, Page 2
Women’s Leadership Committee Ronald McDonald Donation, Page 3
Leukemia and Lymphoma Donation | Arkansas Farm Bureau Federation recently donated $15,000 to the Arkansas Leukemia and Lymphoma Society as part of the Miranda Franco’s Visionary of the Year Campaign. Miranda is a nonHodgkin’s lymphoma survivor from Bismarck. The campaign provides assistance to patients for expenses including transportation, housing, utilities, childcare, food, clothing, etc. Present for the donation were (from left) Magen Allen, Rural Health and Safety Committee member; Miranda and Jesse Franco; ArFB President Dan Wright; Joe Thrash, Rural Health and Safety Committee chair, and ArFB Executive Vice President Jarrod Yates.
ARKANSAS AGRICULTURE HALL OF FAME SEEKING CLASS NOMINATIONS
The Arkansas Agriculture Hall of Fame is seeking nominations from the public for its next class of inductees. The nomination deadline is Nov. 1.
The Agriculture Hall of Fame recognizes Arkansans who have contributed significantly to the state’s largest industry while spotlighting their contributions to the state’s economic development. Since its first class was selected in 1987, a total of 192 men and women have been inducted.
Debbie Moreland, chairman of the Arkansas Agriculture Hall of Fame, says anyone can nominate a person believed worthy of the honor.
The nomination form is available online. Forms can also be requested by calling 501-228-1609.
The nomination form provides space to provide the principal justification for a candidate’s nomination, a summary of the nominee’s contributions to agriculture and their community, a record of their professional experiences and their involvement in public service and support of agriculture.
The induction ceremony for the next class of honorees will be held March 28 at the Statehouse Convention Center in Little Rock.
A r FB ENCOURAGES MEMBERS
TO VOTE YES ON ISSUE 1
Arkansas has a desperate shortage of skilled labor — electricians, welders, mechanics, truck drivers, plumbers, HVAC technicians, etc. These shortages are especially impactful to Arkansas farmers and ranchers and our rural communities.
Issue 1 is your chance to invest in Arkansas’ future by expanding opportunities for students pursuing vocational and technical education. By allowing lottery proceeds to fund scholarships and grants for vocationaltechnical schools and technical institutes, we can build a stronger Arkansas workforce that supports rural Arkansas communities.
Issue 1 fills critical gaps in industries that keep our economy strong. Whether it’s a high school graduate seeking career training or an adult looking to reskill for a better future, Issue 1 provides the financial support they need to succeed.
Vote yes on Issue 1 and invest in the future of our communities, our workforce and our state.
Important 2024 election dates to keep in mind include:
• Oct. 21 – Early voting begins for the general election and nonpartisan judicial runoff election
• Nov. 5 – Election Day
To receive instant ArFB updates, including legislative updates, action items, news alerts and farm program information, text ARFB to 52886.
A r FB AG INNOVATION
Continued from page 1
select five semifinalists to present Dec. 5 at the Arkansas Farm Bureau annual meeting, with a winner and runnerup announced at the meeting in Hot Springs.
“We’re excited to see what Arkansas-based companies are investing in solutions that serve agriculture,” says Will Hopkins, director of local affairs and rural development at Arkansas Farm Bureau. “Bringing back this competition for a second year is one way we continue to build community for our members, as evidenced by last year’s winner.”
Anvil Metals & Fabrication (AMF) of Baxter County won the inaugural contest in 2023. The AMF team patented a tractor bucket attachment with folding forks, hay spikes, brush guards and other tools for use on farms and in rural areas. AMF was founded in 2022 by Rob Conner, Cody Marquis and Damian Schilling after Conner and his wife purchased a welding shop in Gassville. Rob Conner volunteers as the career technical education coordinator for Mountain Home Public Schools and his two cofounders are former students turned business partners.
Cash prizes totaling $15,000 will be awarded, with the winner receiving $7,500 and the runner-up earning $5,000. There will also be a People’s Choice award winner to be awarded $2,500.
Entrepreneurs entering the contest must be 18 and a member of Arkansas Farm Bureau.
The Ag Innovation Challenge application can be found here. For more information, please contact Will Hopkins at 501-414-6093 or Will.Hopkins@arfb.com.
2024 Southeast Farmer of the Year
| Ted Huneycutt (right) of Huneycutt Farms in Arkadelphia, represented Arkansas at the Southeastern Farmer of the Year Contest in Moultrie, Ga. Each of the participating state farmers were recognized by Chip Blalock, Sunbelt Ag Expo Executive Director, and presented with a bronze eagle statue.
Ronald McDonald Donation | Members of the ArFB Women’s Leadership Committee recently stopped by the Ronald McDonald House Charities of Arkansas (RMHCA) for a tour and to make their annual donation. In addition to its donation, the committee cooked dinner for the families staying at the house. The WLC has been supporting RMHCA for more than 28 years. Pictured for the annual donation include (top photo) Donna Csunyo, COO- RMHCAR-NLA; Sara Beth Johnson, State WLC; Nita Cooper, Vice Chair State WLC; Pam Billingsley, State WLC; Kerry Stiles, Chair State WLC; Julie Campbell, State WLC; Mindy Lockhart, State WLC and Emily Piechocki, Development Director- RMHCAR-NLA.
MARKET NEWS
as of October 16, 2024
Contact Brandy Carroll brandy.carroll@arfb.com
Tyler Oxner tyler.oxner@arfb.com
Cotton
Harvest pressure and weak demand continue to limit the upside potential of the cotton market. In the October Supply and Demand report, USDA lowered the cotton production estimate to 14.201 million bales and cut the export projection by 300,000 bales. The net result was an increase in projected carryout, which is expected to be 4.1 million bales. Farmers have harvested 34% of the crop across the U.S., while Arkansas farmers have harvested 52% of the crop at home. Georgia saw significant yield and quality losses from Hurricane Helene, but the market hasn’t reacted much as Texas raises most of the cotton in the country. Nearby resistance is at 75 cents for December and 76 cents for March. The USDA projected on-farm price was unchanged from the September report at 66 cents/lb.
Rice
The rice harvest is winding down, with 91% of the U.S. crop and 95% of the Arkansas crop now in the bins. Futures remain in a mostly sideways trading pattern as harvest pressure and weak export demand continue to weigh on the market. November is testing support at $15 and a close below that level would suggest another leg down, with additional support near $14.70 and the July low of $14.43. In the October Supply and Demand report, USDA increased its average yield estimate, resulting in a slight increase in production which is now pegged at 219.8 million cwt. With demand forecasts unchanged, that increase carried through directly
to ending stocks, now forecast to be 45.7 million cwt, up 16% from the previous year. The average on-farm price for long grain was unchanged at $14.50/cwt.
Corn
December corn prices have been trending lower over the past few weeks, recently touching fresh lows for the month and falling below key support at the 50-day moving average. The current contract has now retraced 50% of the gains from the rally that began on Aug. 27th and is nearing critical technical support at the $4.00 level. Meanwhile, the harvest is progressing at a rapid pace, causing some farmers to sell their bushels immediately in order to free up bin space. Beyond the usual harvest pressure, both basis levels and spreads suggest that the futures market might be getting ahead of itself. For example, the December through March corn spread, which was trading at 17½ cents last Friday, tightened to 15½ cents by Wednesday morning. In addition, U.S. average basis levels have firmed slightly over the past week, now sitting at 32 under the December contract. This suggests that, while harvest pressure remains a factor, there may be some signs of stabilization in the market.
Soybean
November soybeans have posted losses in 11 of the past 12 trading sessions, dropping nearly 7% from a two-month intraday high of $10.69 on Sept. 30. The rapid pace of the U.S. harvest, coupled with improved rainfall forecasts for drought-affected areas in Brazil, has been the primary driver of this downward trend. The November contract recently fell below key support at the 50-day moving average and dipped under the $10.00 mark. However, prices saw a slight rebound as the significant drop in futures prices seems to be encouraging demand. Basis levels at both the Gulf and Pacific Northwest surged ahead of this uptick, amid
rumors of increased soybean trade with China. This renewed demand may help stabilize prices in the near term, despite the continued pressure from the harvest and favorable weather conditions in South America.
Forestry
Compared to the previous quarter, timber markets showed little movement in the third quarter. Pine pulp prices, which had risen significantly from $0.50-$1.00/ton in the first quarter to $2.00/ton in the second quarter, remained steady. Miscellaneous products, which increased from $30-$33/ton to $35/ ton last quarter, saw no significant changes. In the southwest, pine logs, which had dropped from $23-$24/ ton to $20/ton, remained stable, while pine pulp held steady at $2.00/ ton. Oak logs stayed at $68/ton, and hardwood pulp maintained its price at $10/ton. These price movements suggest continued stability in the market, following the increases and demand seen earlier in the year.
Livestock and Poultry
In the October Supply and Demand report, beef production estimates were raised on higher cattle slaughter and heavier dressed weights for the remainder of the year. Pork, broiler and turkey production were all reduced on lower slaughter rates. Beef imports are expected to rise while export forecasts were lowered for the remainder of 2024. Cattle, hog, and broiler price forecasts were raised based upon strong prices in September and strong demand. Cattle futures have seen some weakness this week after moving to new three-month highs on Monday. The December contract has resistance in the $188 area and the market is technically overbought and was due a correction.
