Farm Bureau Press | March 17

Farm Bureau Press

ARKANSAS SOYBEAN GROWER NAMED REGIONAL WINNER

Terry and Lori Dabbs of Stuttgart were named as South Region winners of the Conservation Legacy Award by the American Soybean Association.

The Conservation Legacy Award is a national program designed to recognize the outstanding environmental and conservation achievements of soybean farmers, which help produce more sustainable U.S. soybeans.

The Dabbs’ farming legacy focuses on water conservation. “Water is the most important thing to our farm,” Terry says.

Both the Dabbs’ LTD Farms and Lori’s family operation, Hargrove Farms, Inc., focus on growing corn, soybeans and rice in a minimum-till setting.

Lori says many of their stewardship practices are specific to the area because water quantity is a big concern, with irrigation efficiencies and water conservation primary points of focus.

“One of our greatest challenges in our area is the availability and the competition for surface water,” Lori explains. “The water conservation efforts on our farm really began before my grandparents ever purchased the farm.”

“One of our greatest challenges in our area is the availability and the competition for surface water,” Lori explains. “The water conservation efforts on our farm really began before my grandparents ever purchased the farm.”

The award winners were recognized at the annual ASA Awards Celebration event during Commodity Classic on March 10. Les Seiler of Fayette, Ohio and the Northeast Region took home the overall title. Other regional winners included Tom Perlick of Washburn, Wisc., and Michael Vittetoe of Washington, Iowa.

A PEEK INSIDE

ArFB Foundation 2023 Trap Shoot, Page 2

AFBF Signs Right to Repair MOU with Case IH and New Holland, Page 3

A r FB FOUNDATION 2023 TRAP SHOOT

The Arkansas Farm Bureau (ArFB) Foundation will host its 5th Annual Trap Shoot on June 9 at the Arkansas Game & Fish Foundation Shooting Sports Complex in Jacksonville.

The ArFB Foundation is Aiming for the Future of Agriculture by teaming up with the Arkansas 4-H Foundation and the Arkansas FFA Foundation. Supporting youth in agriculture is at the heart of the ArFB Foundation’s mission. Investing in the future of Arkansas agriculture is a shared vision among our organizations.

Half of the net proceeds from this year’s shoot will directly benefit both the Arkansas 4-H and Arkansas FFA Foundations, while continuing to support the goals of the ArFB Foundation. Last year the event raised more than $20,000.

There are several options to show support for these organizations. One way is through the sponsorship of a local youth shooting team or a team of your own.

For information on all sponsorship opportunities, visit the ArFB Foundation section of the Arkansas Farm Bureau website.

Please contact Amanda Williams by email, amanda. williams@arfb.com, or by phone at 501-228-1493 with any questions.

ARKANSAS DEPARTMENT OF AGRICULTURE ANNOUNCES FIRST STATE-INSPECTED MEAT PROCESSING FACILITIES

The first two facilities licensed by the Arkansas Meat Inspection Program are JACO Meats in Hope and the Arkansas State University Meat Market in Jonesboro.

The Arkansas Meat Inspection Program was authorized by Act 418 during the 2021 Regular Session of the Arkansas General Assembly and was finalized through a cooperative agreement with the U.S. Department of Agriculture’s (USDA) Food Safety and Inspection Service (FSIS). The program allows the Department to inspect meat products for shipment within Arkansas.

Arkansas is one of 28 states participating in FSIS’s State Meat and Poultry Inspection (MPI) programs. These programs allow state inspectors to ensure program enforcement and regulatory compliance in small establishments operating within the state. The MPI programs must develop, administer, and enforce requirements “at least equal to” those set forth in the Federal Meat Inspection Act (FMIA).

The need for additional meat processing capacity was highlighted by food supply chain disruptions caused by the COVID-19 pandemic. In 2020, the Department worked with the Arkansas legislature and industry stakeholders to receive and distribute $10.4 million from the Coronavirus Aid, Relief, and Economic Security (CARES) Act for the Arkansas Meat and Poultry Processing Grant Program. JACO Meats and the ASU Meat Market received funding through the Arkansas Meat and Poultry Processing Grant Program in 2020.

Find more information on program requirements here.

2022 Insurance Team

AFBF SIGNS RIGHT TO REPAIR MOU WITH CASE IH AND NEW HOLLAND

The American Farm Bureau Federation (AFBF) and CNH Industrial brands, Case IH and New Holland, signed a memorandum of understanding (MOU) March 9 that provides farmers and ranchers the right to repair their own farm equipment. The MOU follows a similar agreement AFBF entered into with John Deere earlier this year.

The MOU sets a framework for farmers and independent repair facilities in all 50 U.S. states and Puerto Rico to access CNH Industrial brand manuals, tools, product guides and information to self-diagnose and self-repair machines, as well as support from CNH Industrial brands to directly purchase diagnostic tools and order products and parts.

The MOU respects intellectual property rights and recognizes the need to ensure safety controls and emission systems are not altered. CNH Industrial and AFBF will meet semiannually to review the agreement and address ongoing concerns.

The AFBF board of directors unanimously approved the MOU with CNH Industrial brands Case IH and New Holland.

Read the MOU online.

NAT AG LAW CENTER HOSTS ERP PHASE 2 WEBINAR

The National Ag Law center is hosting a webinar April 26 at 11 a.m. covering the USDA's Emergency Relief Program (ERP) Phase 2.

USDA opened enrollment for a disaster program to help agricultural producers offset the impacts of natural disasters in 2020 and 2021. Eligible crops include both traditional insurable commodities and specialty crops that are produced in the United States as part of a farming operation and are intended to be commercially marketed. USDA will accept signups for this program until June 2, 2023.

The webinar will focus on the ERP Phase 2 rules, which are especially notable for the extent to which underserved farmers who are often left out of disaster programs are eligible for assistance.

More information and registration can be found online.

WHITE CO. YOUNG FARMER TAKES HOME NATIONAL OUTSTANDING AWARD

Brad and Tara Peacock of Bald Knob were recently selected for the Outstanding Farmers of America (OFA) award. The Peacocks are members of White County Farm Bureau and serve as Vice Chairs of the Arkansas Farm Bureau Young Farmers & Ranchers committee.

Each year, the OFA accepts nominations for National Outstanding Young Farmers. Ten finalists are honored at the annual NOYF Awards Congress held in a different region of the United States each year. Four national winners are selected, and all past nominees are inducted into the Outstanding Farmers of America.

The OFA is comprised of past nominees of the Outstanding Young Farmer Program. The group is designed to facilitate an exchange of ideas and friendship that encourages excellence and involvement in agriculture and the local, state, and national community.

Searcy Co. Legislative Dinner | The Searcy Co. Farm Bureau Board recently hosted Rep. Steven Walker and Sen. Missy Irving at a Legislative Appreciation Dinner at Red River Cafe. The board members, spouses; Agent Woodie Methvin; Phillip Powell, ArFB Director of Local Affairs and Rural Development; State Board Member Jason Henson and Searcy County Assessor Randy Crumley were served a meal of fish or chicken and all the trimmings.

MARKET NEWS

as of March 15 , 2023

Contact Brandy Carroll 501-228-1268

brandy.carroll@arfb.com

Corn

Both old and new crop corn futures have sold off sharply in recent weeks. The divide between old crop prices and new crop prices is narrowing. USDA is currently projecting a big corn crop, and that is impacting futures. They are currently projecting a trendline yield of 181.5 bushels per acre as the drought in the midwest has eased over the winter. Total production is estimated to be 15.085 billion bushels on 91 million acres. July futures are testing the waters around $6. Additional selling could see the market move to fill the gap left between $5.95 and $6 last July. New crop December is establishing support near $5.50 for the time being. Below that, the double bottom of $5.43 ¼ charted last July should provide support.

Cotton

USDA pegged cotton seedings at 10.9 million acres, reflecting an expected shift away from cotton and into corn throughout the Mid-South. Weekly export inspections, which have been robust, slowed down last week, with a total of 114,500 bales sold for delivery in the 2022/23 marketing year. Vietnam was the top buyer, while China was not a buyer last week. Cotton shipments, however, were strong last week, at 287,500 bales, up 44% from the previous four-week average. July cotton has fallen to three-month lows and is now testing support in the 79¢ area.

Rice

Weakness in rice futures has continued, but July now appears to be establishing support at $16.25 and building some upward momentum as the market has closed back above the $17 level. For the 2023/24 outlook, USDA pegged acreage at 2.5 million, up close to 13% from the previous year. All rice production is projected to be 185 million hundredweight, up 15%. Average yields were estimated to be 2% higher than last year at 7,523 lb/acre. Additional selling pressure came from the monthly Supply/ Demand report, which raised the 2022/23 carryout by 3 million cwt to 36.1 million, due to an equal reduction in the export projection. World carryout was also increased by more than 4 MMT based on higher production in India. The current weather in the Mid-South is not conducive for field work, as cold, wet weather continues. Soil temperatures will need to rise before rice can be planted.

Soybeans

Soybean futures are under pressure as Brazil harvests a big crop. In the recent supply/demand report, however, USDA cut the carryover estimate to 210 million bushels, down 15 million bushels from the previous report. USDA has pegged soybean seedings at 87.5 million acres, which is unchanged from last year but over a million acres below average trade guesses. New crop November beans have broken its uptrend and have support around $13.30.

Livestock and Poultry

In the March Supply/Demand report, USDA raised the 2023 beef production forecast. Slaughter projections for the first three quarters were raised on increased feedlot placements. Pork production was lowered as higher first-quarter

slaughter rates was more than offset by lighter carcass-weight estimates. Broiler and turkey production was raised for the first quarter, while egg production was reduced. Trade projections were mostly unchanged in the report, but turkey export forecasts were lowered.

For 2023, cattle prices were raised for all four quarters on expectations of firm demand and tightening supplies. Broiler and egg price projections were higher based on current prices and supply projections.

In the futures market, live cattle futures have turned lower and violated uptrending support. General concerns about the economy and the potential impacts on demand sparked the selloff. The June contract gapped lower on Monday but held above support at $157. A move below that level would open the market to a retest of support at $155. Feeder futures also look to have topped after setting a new high of $224.12½ last week. There is very little chart support above the $210 area. June hog futures have moved higher in recent days, but for now resistance at $106 looks tough to break, especially with an overall weaker tone in the cash hog market.

Dairy

In the March supply/demand report, USDA raised its forecast for 2023 milk production on a larger cow inventory. Import estimates were also raised, while export projections were reduced. The Class III price projections were lowered, while Class IV prices are projected higher. The all-milk price is projected lower at $20.45 per cwt.

EDITOR

Ashley Wallace ashley.wallace@arfb.com