FALL DROUGHT UPDATE: LIVESTOCK FORAGE DISASTER PROGRAM OFFERS DROUGHT RELIEF
Western Arkansas has experienced severe drought. Although the entire state recently received rain, with more expected in the forecast, reversing the damage from the last two months will take time and steady precipitation. Drought of this caliber at this time of the year poses a tremendous concern to livestock producers, especially cattle operations who rely on forage production and ponds to feed and water their livestock.
This week four more counties were added to the D3 drought designation (Scott, Polk, Howard, Montgomery), raising the number of counties who qualify for the Farm Service Agency (FSA) Livestock Forage Disaster Program (LFP) to 10 (Benton, Boone, Carroll, Howard, Madison, Montgomery, Newton, Polk, Scott, Washington). Additionally, 34 counties are in a D2 drought, and are rapidly approaching qualification for disaster payments and eight counties are in a D1 drought.
Livestock producers in counties that enter a D3 or higher-level drought automatically qualify for LFP payments to help purchase feed and hay to replace lost forages due to the drought. To enroll in the LFP payment program, farmers must complete an application at the local FSA office and submit required documentation within 30 calendar days after the end of the calendar year in which the grazing loss occurred. Supporting documents must show evidence of loss and that grazing land or pastureland is owned or leased. More information on the LFP program can be found here
2024 YF&R Discussion Meet Applications Due November 15, Page 2
Recipients of ArFB Scholarships Announced, Page 2-3
2024 YF&R DISCUSSION
MEET APPLICATIONS
DUE NOVEMBER 15
The 2024 YF&R Discussion Meet will be held during the Arkansas Farm Bureau Annual Convention, Dec. 4-6 at the Hot Springs Convention Center.
First place will receive $7,000 and the three runnersup will each receive $500. The application deadline is Nov. 15.
The winner will also receive an all-expenses paid trip to the American Farm Bureau Annual Convention to be held Jan. 24-29, 2025 in San Antonio, Texas.
Additional information, including discussion meet questions and resource materials, is available online.
NORTH ARKANSAS COLLEGE RECEIVES
AFBF MINI-GRANT
The North Arkansas College Collegiate Farm Bureau has been awarded a 2024-2025 Collegiate Farm Bureau mini-grant from American Farm Bureau. The college will use the grant for its annual Youth Ag Day.
This hands-on, educational event designed to introduce third-grade students to the world of agriculture. The day-long program will be filled with interactive activities and demonstrations that bring agricultural concepts to life. Students will participate in a variety of stations where they learn about farm animals, plant cultivation, soil health, and the importance of agriculture in their daily lives. The event will also include demonstrations from local farmers and agriculture professionals, giving students a real-world perspective on how food is produced, and the critical role agriculture plays in the community.
RECIPIENTS OF A r FB SCHOLARSHIPS
The Arkansas Farm Bureau Scholarship Foundation Committee has named the 15 recipients of the $7,000 Farm Bureau Foundation scholarships for the 2024-25 school year.
Scholarship recipients are Arkansas residents, members of a Farm Bureau family and enrolled as juniors or seniors in pursuit of an agriculture-related degree at a state-accredited university.
The scholarship recipients are listed below.
Emma Cook, Carlisle, Southern Arkansas University
Samuel Hall, Marvell, Arkansas State University
Hannah Harrison, Jasper, Arkansas Tech University
Taylor Hoover, Vilonia, Arkansas State University
Kendra Hulsey, Alpena, Arkansas Tech University
Katee Johnson, Mountainburg, UA - Fayetteville
Alyson Kyzer, Jacksonville, Southern Arkansas University
Kelcy Lamkin, Buckner, Southern Arkansas University
Molly Parker, Fayetteville, UA - Fayetteville
J.D. Smith, Berryville, UA - Fayetteville
Kalli Smith, Gillham, Southern Arkansas University
Sara Sweat, McCaskill, Southern Arkansas University
ARKANSAS BEEF COUNCIL NAMES CAVE CITY BURGER ARKANSAS’S
The Arkansas Beef Council named the Caveman Burger from Bailey’s Family Restaurant in Cave City as the winner of the inaugural Arkansas’s Best Burger Contest. The contest highlights the use of 100% beef prepared by Arkansas restaurants.
The Caveman Burger features a hefty two-pound, single ground beef patty served on a nine-inch bun. Customers have the option to make the burger a double and to add cheese or bacon for extra flavor.
“The overwhelming response in the first year of Arkansas’s Best Burger Contest demonstrates that Arkansans deeply value both the quality of beef and the dedication of our locally-owned restaurants to create the perfect burger,” said Arkansas Secretary of Agriculture Wes Ward.
Over 2,400 nominations, featuring more than 410 different burgers, led to the selection of the top 10 finalists. The Caveman
N. Ark. Collegiate
Braden Taylor, Amity, Arkansas State University
Harley Warren, Leola, Southern Arkansas University
Blakely Williams, London, Arkansas Tech University
The scholarships are based on financial need, academic achievement, career plans, character and leadership potential. The 15 scholarship recipients will receive paid installments of $3,500 per semester for the 2024-2025 academic year.
“Supporting the education of young people in agriculture is essential to the future of Arkansas,” said Arkansas Farm Bureau President Dan Wright. “By providing scholarships for those pursuing degrees in this field, we’re investing in the next generation of leaders who will keep our rural communities strong and ensure Arkansas agriculture continues to thrive.”
Arkansas Farm Bureau and county Farm Bureau organizations have awarded more than $1 million to assist more than 2,000 youth with college expenses. In addition to the Foundation scholarships, the organization annually awards the Romeo E. Short scholarship to students enrolled in the Bumpers College of Agricultural, Food and Life Sciences at the University of Arkansas and the Marvin Vines Memorial scholarship to a broadcast journalism student at Arkansas State University in Jonesboro. Many county Farm Bureaus also award scholarships to young people in their communities.
BEST BURGER
Burger received the highest score among the finalists from an anonymous panel of judges with evaluations based on the taste of the burger patty, appearance and presentation, proper cooking and overall impression.
“Arkansas beef producers are proud to produce the beef served on family dinner tables and in Arkansas’s favorite local burger spots. Congratulations to the top 10 finalists and the Arkansas’s Best Burger Contest winner,” said Arkansas Beef Council Chairman Caleb Plyler.
Bailey’s Family Restaurant, once known as Bailey’s Country Cookin’, is a true local favorite. Three generations of the Bailey family—Scott, his wife Shelly, their daughters Andi (the current owner) and McKee, and their granddaughter—work together alongside a staff that feels like part of the family. Bailey’s serves fresh, local produce like squash, tomatoes, and watermelon when in season. But more than just great food, Bailey’s is about community, with traditions like a free veterans’ dinner and festive holiday events that make everyone feel welcome and at home.
MEMORIAM REQUEST
As ArFB prepares for the annual meeting, we are requesting names of county Farm Bureau officers, employees and agents who have passed away since Nov. 1, 2023.
Please include the person’s name, highest office held and the name of the county Farm Bureau to which he/she belonged and if the person wasn’t active in his/her position at the time of death.
Names should be submitted by Nov. 27 to Cindra Jones at cindra.jones@arfb.com.
Congressional Visit | Sen. John Boozman recently visited with ArFB president Dan Wright at the Scott County Farm Bureau office to discuss the issues facing the agriculture industry in our state.
Backpack Program Donation | Benton County Farm Bureau recently partnered with Arkansas Hunters Feeding the Hungry to deliver 4,000 meat sticks to be used in local schools backpack program.
MARKET NEWS
as of October 30, 2024
Contact Brandy Carroll brandy.carroll@arfb.com
Tyler Oxner tyler.oxner@arfb.com
Corn
December corn prices are holding near the 50-day moving average of $4.10. Strong cash markets and steady nearby demand have supported corn futures despite a recent losing streak. The market appears focused on the 100-day moving average, which stands at $4.16. Monday’s crop progress report showed corn harvest at 81% completion, well ahead of the fiveyear average of 64%. The final crop rating for corn has also settled at 64% good to excellent, marking the highest rating since 2018. Traders are watching for the USDA’s November WASDE report, which may offer insights on corn yields. While there has been some speculation that late-season dryness may have slightly reduced the top end of national corn yields, the October WASDE report surprised the market with a USDA yield increase to 183.6 bushels per acre — a potential record.
Soybean
November soybean prices continue to decline as the contract nears expiration on Nov. 14, currently trading around $9.70 — well below the 50-day moving average of $10.07. Traders are now shifting their focus to the January contract, though prices there have also weakened, with January soybeans breaking the previous October low of $9.80. The market now sits within ten cents of the contract low of $9.73, an evident target for bearish positions. Resistance to any rally remains at $10.00, with additional resistance
at $10.13. Given current signals, the outlook for soybeans appears to stay bearish, with indications continuing to point toward a record U.S. crop.
Wheat
The U.S. winter wheat crop is in worse condition than expected, with drought conditions intensifying since mid-year and taking a toll on crop quality. However, weather forecasts indicate ample rainfall across the central U.S. in the coming days, which could help improve wheat conditions. As of Sunday, the USDA rated 38% of the nation’s winter wheat crop as good to excellent, falling 9% below analyst expectations. This rating also falls below the five-year average of 44% good to excellent for this week and is the second-lowest for this period in 39 years of records. The poor rating led to gains across all three wheat classes, bouncing back from recent losses.
Rice
November rice futures have now closed below previous support at $15, signaling that further losses could be possible. Support begins at $14.881/2 with additional support at $14.70. The market has been trading in a mostly sideways range for the past several weeks, but it appears to be turning lower. Harvest 2024 is a wrap, and indications are that yields were strong with no major crop problems. Asian prices are under pressure from the large supplies in India that are now available after the government there relaxed export restrictions. Weekly exports have been better than expected, but low river levels mean things are still moving more slowly than is ideal.
Cotton
Cotton harvest is now in full swing, with 52% of the U.S. crop harvested. In Arkansas, farmers have now picked 85% of the cotton and harvest will begin winding down
soon. December futures have been trending lower for more than a month as harvest pressure weighs on the market. Futures are now testing support at 70 cents and have downtrending overhead resistance near 72 cents. A close above the trendline would suggest a possible retest of resistance at 74.50 cents. Last week’s exports of 169,700 bales was up 57% from the previous fourweek average. The top buyers were Vietnam and Pakistan, but China was a buyer.
Cattle
Live cattle futures prices remain strong, with December moving to a new 16-week high three days in a row. February cattle are trading at 12-week highs. However, the market is overbought and could be due a correction. Both the December and February contracts charted a bearish outside day on Tuesday, suggesting additional downside is possible. The market fundamentals support the recent strength, with higher wholesale beef prices and packer operating margins adding to the overall bullish tone of the market. The October Cattle on Feed report was mostly neutral for prices, with the October inventory pegged at 100% of the year-ago total. September placements were 98.1% of the previous year, which was above the average trade estimate.
Hogs
Hog futures continue to move higher, with December gapping to new contract highs on Tuesday after negating a bearish reversal charted late last week. Counter to a typical decline in the fall, cash hog prices are strong, and the composite pork cutout value is at six-week highs, supporting packer margins.
