JANUARY 29, 2021 | VOLUME 24 | ISSUE 2
Farm Bureau Press A PEEK INSIDE
ArFB ADDS RICHARD TO SERVE AS DIRECTOR OF COMMODITY ACTIVITIES AND ECONOMICS Arkansas Farm Bureau has hired Jessica Richard as director of Commodity Activities and Economics in the organization’s Commodity and Regulatory Affairs Department. A native of Pine Plains, N.Y., Richard, 27, recently earned her doctorate degree in agricultural economics from Oklahoma State University. Previously, she received a master’s degree in agricultural economics from the University of Kentucky and an undergraduate degree with a concentration in agribusiness from Morehead State. She will be responsible for working with members of the organization’s beef, dairy and equine divisions, including implementation of Farm Bureau policy affecting each of the agricultural commodities. “We feel very fortunate to have someone with Jessica’s knowledge and experience joining our staff,” said Evan Teague, ArFB’s vice president of Commodity and Regulatory Affairs. “She has both academic and real-world experience, having worked as a graduate research assistant, as well as on dairy farms and as an equine handler. We are happy to have her on the team.” Richard was also active in 4-H as a child in New York, showing sheep and cattle at livestock shows. “I am very excited about this new opportunity and joining the team at Arkansas Farm Bureau,” Richard said. “After years of conducting economic research and working in an academic environment, I am eager to apply that knowledge to my new role here and assist beef and dairy producers and the state’s equine industry with the issues that affect their livelihoods.”
2021 ASU Agribusiness Conference, page 2
Arkansas YF&R Competitive Events Applications, page 3
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ArFB 2021 LEGISLATIVE UPDATES
Each Monday, the ArFB Public Affairs & Government Relations department will be sending a “Week Ahead” email detailing specific actions anticipated to happen at the legislature for the coming week. This will include: • The status of Farm Bureau priority legislation and/ or legislation related to Farm Bureau policy, filed legislation • Committee Hearings • Committee Votes • Anticipated Votes in the House and Senate
The Arkansas Feral Hog Eradication Task Force has unveiled a new tool to help coordinate the fight against the invasive pests in The Natural State. A new mobile-friendly survey will enable any private landowner or hunter to upload information about feral hog sightings and removal efforts in Arkansas. The Arkansas Feral Hog Control Survey, built on a mobile platform called ArcGIS Survey 123, is available for download at https://bit.ly/FeralHogControlSurvey. It was developed by the Arkansas Game and Fish Commission to track the agency’s efforts in feral hog trapping during the last year. After successful field tests, biologists and staff within the task force modified the tool to provide a public interface to help track any feral hog removal efforts throughout the state.
To ensure efficient and effective communication, those signed up will receive targeted updates and action alerts. These updates and action alerts may not necessarily happen every day.
Landowners who remove feral hogs on private property by trapping or shooting are asked to help the task force by uploading removal information on the Arkansas Feral Hog Control Survey.
If you would like to register to receive instant updates and action alerts, text ARFB LEG to 52886 or email PublicAffairs@arfb.com.
Information uploaded to the survey will help the task force better understand how many feral hogs are being removed monthly by private individuals, state agencies, and federal agencies. This will guide future management decisions to continue the fight against feral hogs in Arkansas.
If you wish to access daily information regarding bill status, committee work, etc, please utilize the Leadership Portal at www.arfb.com. The username is your last name, and the password is your ArFB member number.
2020 COMMODITY WINTER DIVISION MEETINGS Arkansas Farm Bureau has released the Winter Division Meeting schedule for 2021. Below is the upcoming schedule. Equine: Jan. 28 at 7 p.m. – Zoom Beef Cattle: Feb. 2 at 9 a.m. – Zoom Forestry: Feb. 2 at 10 a.m. – Zoom Rice: Feb. 4 at 9 a.m. – Zoom Specialty Crops: Feb. 4 at 10 a.m. – Zoom Cotton: Feb. 4 at 1 p.m. – Zoom Poultry: Feb. 4 at 6 p.m. – Zoom Wheat & Feed Grains: Feb. 9 at 9 a.m. – Zoom Soybeans: Feb. 9 at 9 a.m. – Zoom Aquaculture: Feb. 9 at 10 a.m. – Zoom Swine: Feb. 10 at 6 p.m. – Zoom Dairy- TBD: Waiting on Legislation Questions regarding meetings should be sent to Evan Teague, Commodity & Regulatory Affairs VP, at evan. teague@arfb.com. 2
TASK FORCE USING ONLINE MAPP
In Arkansas, feral hogs may be killed or trapped day or night by any means year-round on private property by a landowner or anyone who has the landowner’s permission. A license is not
2021 ASU AGRIBUSINESS CONFE The 27th annual Arkansas State University Agribusiness Conference will be held Feb. 10 virtually using the Webex Event platform with technical support from the A-State Department of Marketing & Communications. The 2021 conference will be recorded for later access. The conference continues to provide timely information and agricultural policy education to farmers, agribusiness professionals, students, and educators across the Mid-South. This year’s conference will focus on the outlook for the economy and agribusiness, the impact of the 2020 election on agricultural policy, and the commodity markets. The live virtual conference will begin at 8:30 a.m. and conclude at noon. The morning general session features two speakers:
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PING FOR FERAL HOG REMOVAL
required to kill feral hogs, but anyone who has had their license revoked may not hunt them. On public land, feral hogs may not be taken on many wildlife management areas and National Wildlife Refuges. There are a few WMAs where feral hogs may be taken opportunistically, but only during open firearms deer, bear or elk seasons or with archery tackle from Nov. 1-Dec. 31. Visit www.agriculture.arkansas.gov/arkansas-department-ofagriculture-services/feral-hog for more information about the Feral Hog Eradication Task Force and tools to help control feral hogs in Arkansas.
ERENCE • David Kohl, professor emeritus at Virginia Tech University, will speak on the economic and agribusiness outlook and on management issues for the 2020s. • Sara Wyant, president of Agri-Pulse Communications, will discuss the impact of the 2020 election and the implications for agricultural and international trade policy. The three concurrent commodity sessions will begin at 11:15 a.m. this year. • Grayson Daniels from Riceland Foods, Inc. will discuss rice and soybean issues and markets. • Jeff Johnson from Allenberg Cotton Co. will discuss cotton industry issues and market outlook. • Arkansas State University professor David Newman will discuss the trends and issues in animal agriculture. Information on the virtual conference and instructions on how to register and view the conference are available at www.AState. edu/AgriBusiness. For assistance, one may email AState_Agribus_Conf@AState.edu or call Abigail Coleman at 541-953-4487.
ARKANSAS YF&R COMPETITIVE EVENTS APPLICATIONS Applications for the Young Farmers & Ranchers (YF&R) Achievement Award and Excellence in Ag Award are now available. These awards provide opportunities to give recognition for achievements in agriculture, business and leadership to our young farmers and ranchers. The future of ArFB relies on the success of our young leaders and recognizing those leaders and their accomplishments is vital to the health of our organization. These contests play an important role in encouraging our younger leaders to strive for excellence at home, on their farms, in their community, and in their involvement with Farm Bureau. The Achievement Award recognizes young farmers and ranchers in Arkansas who have excelled in their farming/ranching operations and exhibited outstanding leadership abilities. The award is designed for an individual or couple involved fulltime in production agriculture with a majority of their income subject to normal production risks. Competitors are judged on a combination of farming operation growth and financial progress, excellence in operation management and scope, and self-initiative displayed throughout the development of their operation. The Excellence in Agriculture Award recognizes the accomplishments of contestants that derive the majority of their income from efforts other than agriculture, but are involved in farming and Farm Bureau. Competitors are evaluated on their understanding of agricultural issues, leadership experiences and achievement, ability to communicate their agricultural story, and participation in Farm Bureau and other organizations (i.e. civic, service, and community). County Farm Bureaus are urged to identify leaders who are eligible to apply. Applications are available on the ArFB website and the Leader Portal. Upon completion they should be emailed to yfr@arfb. com. The deadline to apply is March 31. All materials, including financial documents, must be received by this date. If you have any questions, please contact Jennifer Craig at (501) 228-1269 or jennifer.craig@arfb.com.
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MARKET NEWS as of January 27, 2021 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com
Corn In the January reports, USDA slashed its 2020 U.S. corn crop and 2020-21 carryout estimates sharply, sending futures limit-up. USDA cut its crop estimate by 325 million bushels, the largest cut ever made in the January production report. Ending stocks are now projected at only 1.552 billion bushels, which brings the stocks to use ratio to a very tight 10.6%. Strong demand from China has been supportive. A sale of 1.36 MMT was reported this week, bringing total sales to China to nearly 517 million bushels for the marketing year. March futures have failed at resistance at $5.40, but are holding above support near $4.90. New crop December futures have seen a bit more weakness in recent days, with prices falling to test support near $4.25. Resistance remains at the recent high of $4.65½. Expect prices to remain strong as the market looks to increase acres for 2021 in order to get back to a more comfortable stocks to use situation. Soybeans USDA had bullish news for the soybean market, too. USDA cut its crop estimate by another 35 million bushels, bringing the crop to 4.135 billion bushels. Exports were raised 30 million bushels and the domestic crush by 5 million. The cuts were partially offset by increases in the old crop carryout and import projections. The net result of the report was projected ending stocks of only 140 million bushels, which is a stocks-touse ratio of only 3.1%. The average 4
on-farm price was raised 60 cents to $11.15. On the futures charts, the trend is solidly higher. Old crop March looks to have found resistance between $14.35 and $14.36. The November contract has so far been unable to close above resistance at $12. The market is competing with corn for acres, but the prospect for a big crop in 2021 is limiting the upside to some degree. Rice Rice futures also got a boost from a bullish USDA report. A sharp increase in domestic and residual usage evident in the NASS rice stocks report resulted in a 2020-21 all-rice carryout of 38.4 million hundredweight. That is a 12.4 million bushel cut from the December report. 2020 production totaled 228 million cwt, up 23% from 2019. The average US yield was pegged at 7,619 pounds per acre. The average on-farm price for long grain rice is pegged at $12, up 20 cents from the previous report. The average medium-grain price is pegged at $12.30, up 30 cents from the previous report. Technically, March futures have moved above previous resistance at $13, and are now facing resistance at the recent high of $13.35. Deferred contracts have moved to new contract highs this week as the market is supported by strength in other commodities and competition for acres as farmers make planting decisions. Cotton Cotton was no exception to bullish reports and subsequent chart action. USDA cut its U.S. cotton carryout estimate by 1.1 million bales, which is more than 19%, due to lower estimated production and stronger expected exports. U.S. production was pegged at 14.95 million bales, down a million bales from the last report. Exports were raised 250,000 bales to 15.25 million bales. The average on-farm price was raised 3 cents per pound to 68 cents per pound. The world cotton carryout
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was lowered to 96.32 million bales, down 3.56 million bales from a year earlier. Technically, the uptrend on the March chart is still solid and prices are trading at 2½-year highs on a front-month basis, although we have seen some profit taking and technical selling this week after failing to move above the contract high of 83.06 cents set on Jan. 21. Cattle Live cattle futures continue to move higher on support from stronger wholesale beef prices and expectations for higher cash trade this week. Technical buying is also a factor, with nearby February hitting a new 10-month high of $117.63 on Tuesday. Support begins at $116.48. March feeders have seen strength in recent days but have been unable to overcome resistance at the contract high above $145 and have seen technical selling as a result. There isn’t a lot of technical support above $132.67. Hogs Hog futures have recovered from recent losses. February has been unable to challenge resistance at $72, which has capped the market for over 12 months at this point. Strength in corn is seen as negative for hog futures. The cash hog market is firm as winter weather is disrupting hog movement in parts of the Midwest. Dairy In the January Supply/Demand report, the milk production estimate for 2020 and forecast for 2021 are raised from the previous report on higher milk per cow and higher dairy cow numbers. The 2021 all milk price forecast was raised to $17.65 per cwt.
EDITOR Ashley Wallace ashley.wallace@arfb.com