Farm Bureau Press | April 14

Farm Bureau Press

94TH GENERAL ASSEMBLY CLOSES; CHANGES TO CHECKOFF PROGRAMS

The 94th General Assembly has wrapped up, with Arkansas Farm Bureau generating success on several legislative priorities.

“The Farm Bureau legislative priorities that were passed will have a positive impact on the daily lives of Arkansas’ farmers and ranchers for years to come,” said Rich Hillman, president of Arkansas Farm Bureau. “These legislative actions will increase access to healthcare, provide ag education for elementary students, allow farm stores and farm cooperatives to continue selling animal medicines, provide fence law reforms, and streamline H2-A driver’s license processes.”

Action taken late in the session, though, resulted in a move of the administration of the commodity checkoff programs from Farm Bureau to the Arkansas Department of Agriculture, ending a relationship that had extended

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ArFB Foundation Disaster Relief, Page 2

Hempstead Co. Farm Bureau Opens New Office, Page 3

Health Career Recruitment Pledge | To mark the 35th anniversary of the Medical Applications of Science for Health (MASH) program, Arkansas Farm Bureau Federation pledged $500,000 over the course of five years to the University of Arkansas for Medical Sciences (UAMS), creating the Arkansas Farm Bureau Annual Fund for Excellence. On hand for the presentation of the initial gift of $100,00 were (from left) Sarah Eastham, Administrative Service Director, UAMS Regional Programs; Erica Dunn, Sr. Director of Development UAMS; Robin Howell, Program Manager, UAMS Regional Programs; Dr. Richard Turnage, Vice Chancellor UAMS Regional Programs; Rich Hillman, ArFB President; Magen Allen, ArFB Board Member and Dan Wright, ArFB Secretary/Treasurer.

CHANGES TO CHECKOFF PROGRAMS

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throughout the life of most of the checkoff programs, more than 50 years in some cases.

”With this decision to move the checkoff administration away from the Farm Bureau, we see an opportunity to redirect our staff resources so that we continue to have a positive effect on our membership, as has been our history for decades,” Hillman said. “Farm Bureau will continue to serve agriculture, not use agriculture.

"Arkansas Farm Bureau thanks our legislators for their service and we will continue working with our elected officials to grow and improve Arkansas' largest industry, agriculture.”

Senate Bill 506 moves the agricultural promotion boards to the Department of Agriculture by a cabinet level transfer. Farm Bureau opposed this legislation because it ends a long-standing privatepublic partnership, expands state government, and does not allow the boards to choose their own governance or administration. Farm Bureau has provided the administrative function of the boards at no charge, so that the money farmers contributed through the checkoff programs would be utilized as extensively as possible for research and market development.

The following boards are included in this transfer:

• Arkansas Beef Council

• Arkansas Corn & Grain Sorghum Promotion Board

• Arkansas Catfish Promotion Board

• Arkansas Rice Research & Promotion Board

• Arkansas Soybean Promotion Board

• Arkansas Wheat Board

The legislation will be effective 90 days after the official closure of the General Assembly, known as sine die, which is expected May 1. The legislature held its final meeting on April 7, after 89 days of being in session.

A recap of the full legislative session, complete with voting records for each member of the General Assembly, will be distributed to Farm Bureau leaders in the coming days.

DONATIONS ACCEPTED FOR Ar FB

Many have asked how to provide support for those affected by the March 31 tornados. The ArFB Foundation’s Disaster Relief Fund exists to provide assistance to organizations helping those affected.

While Arkansas Farm Bureau's immediate focus is taking care of members through its insurance companies, the ArFB Foundation will be working with county Farm Bureaus to determine what and where the greatest needs are for disaster relief efforts in the days and weeks to come.

ARKANSAS FARM BUREAU NAMES PRUSS

Leigh Pruss has been promoted to vice president of finance at the Arkansas Farm Bureau (ArFB).

Pruss succeeds Mike Solomon, who retired after 35 years of service at Farm Bureau.

A native of Little Rock, Pruss has worked at Farm Bureau for 18 years, most recently as director of finance. She joined ArFB in 2005 as a senior accountant after three years at Thomas & Thomas. A certified public accountant, she holds an undergraduate degree from the University of Central Arkansas and an MBA from UA-Little Rock. Pruss will manage a team of eight accounting staff who

FOOD

HELP

ON THE WAY FOR HOUSEHOLDS

Approximately 7,000 families in Cross and Pulaski County affected by recent tornados and severe storms will soon be able to receive food packages containing nutritious, high-quality foods that are 100% grown and produced on farms in the U.S. –known as USDA Foods. USDA approved the short-term measure to address an immediate need for food until a longer-term solution is ready.

Arkansas officials will work directly with its partners and local food banks to issue food boxes to participants located in the affected areas.

The Disaster Household Distribution program helps states after a disaster disrupts normal food supply channels. For instance, when disasters damage or destroy grocery stores, states can redirect stored supplies of USDA Foods from The Emergency Food Assistance Program (TEFAP) toward emergencies. The USDA can also ship USDA Food from other states. USDA can then replace the redirected foods so that the state continues to have USDA foods available for those in need.

Leigh Pruss

FOUNDATION DISASTER RELIEF

If you would like to contribute to our Disaster Relief efforts, please consider donating to the ArFB Foundation’s Disaster Relief Fund. Money donated to the ArFB Foundation, earmarked for disaster relief, will be directly used to aid Arkansans affected by the recent tornado outbreak. All donations are taxdeductible.

Donations can be made online, or by sending donations to ArFB Foundation, P.O. Box 31, Little Rock, AR 72203. Please make note that the donation is for disaster relief.

PRUSS AS VP OF FINANCE

provide financial and accounting support for the Arkansas Farm Bureau Federation and its subsidiaries, including the Farm Bureau Building, Inc., Arkansas Farm Bureau Foundation, Arkansas Farm Bureau Scholarship Foundation, Farm BureauRomeo Ennis Short Memorial Foundation, Arkansas Casualty Investment Corporation, and Arkansas Farm Bureau Investment Corporation.

The team’s accounting functions include accounting information systems, receivables/payables, deposits, tax work, financial analysis, inter-company allocations and consolidations, as well as the county records program, which provides accounting information systems, bookkeeping, payroll, income tax preparation and financial statement preparation for 75 county Farm Bureau entities. ArFB and its county affiliates are tax-exempt under 501(c)(5) of the Internal Revenue Code.

HOUSEHOLDS HIT BY STORMS

USDA’s Food and Nutrition Service (FNS) approved an Arkansas Department of Education request for waivers for Child Nutrition Program operations impacted by tornados on March 31. During unanticipated school closures, the Wynne School District may serve meals through the Summer Food Service Program (SFSP), National School Lunch Program (NSLP) or Seamless Summer Option (SSO) in a non-congregate setting, adjust the timing of meal service, allow parent pick-up, and serve meals at school sites under the waiver approval.

Additionally, FNS approved a waiver allowing the Wynne School District to serve NSLP and School Breakfast Program (SBP) meals in a non-congregate setting, adjust the time of meal service, and allow parent pick up for students unable to eat in a congregate setting due to closure of school buildings, or students learning in an alternate location.

For more information about this and other available aid, please visit Arkansas’ Division of Emergency Management.

Pulaski Co. Storm Relief | Pulaski Co. Farm Bureau board members and agents hit the road with the county smoke wagon to cook meals for those affected by the recent tornados and those working cleanup efforts. During the week they were stationed in Sherwood, Little Rock and Amboy, serving more than 300 meals.

HEMPSTEAD COUNTY FB OPENS NEW OFFICE

Hempstead Co. Farm Bureau celebrated its new building and location in Hope with numerous members of the community and Farm Bureau family in attendance.

A ribbon cutting was held April 6, where Agency Manager Reed Camp shared with guests the reason behind Farm Bureau’s accomplishment. “We know our organization would not be as successful as it is if it weren’t for the exceptional people of Hempstead County.”

The new building is located at 110 North Hervey Street in Hope, and includes a drive-thru window, a meeting room, and a hospitality bar full of coffee, water, and snacks.

MARKET NEWS

as of April 12 , 2023

Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com

Cotton

USDA, in its first survey-based report of the 2023 growing season, has pegged the cotton crop at 11.26 million acres. Farmers reported intentions to plant 11.1 million acres of upland cotton, and 154,000 acres of American Pima. That total is down 18% from last year’s 13.8 million acres. In the National Cotton Council survey earlier this year, farmers reported planting intentions of 11.4 million acres, meaning market factors have changed a few minds since the first of the year. Arkansas farmers are planning to seed 480,000 acres of cotton, down 25% from the 640,000 acres planted in 2022. The total was at the upper end of prereport estimates, though, and after two days of near-limit gains ahead of the report, the market gave back a portion of those gains. December is now building on support around 81 cents, with overhead resistance at 84.15¢. Export sales have been supportive, and that was reflected also in the April Supply/Demand report. 2022/23 exports were raised 200,000 bales to 12.2 million, and ending stocks were lowered to 4.1 million bales.

Rice

Rice farmers provided bearish news for the market as they reported their prospective plantings to USDA. Plantings are now pegged at 2.583 million acres nationwide, up 16% from a year ago. Arkansas farmers reported intentions of 1.3 million acres, up 18% from 2022. Of that, 1.14 million acres will be seeded to long grain and 160,000 acres will be seeded to medium grain. The

report was well within the average pre-report guess, but that didn’t stop the selloff that occurred after the report. Futures took nearly $1.50 off the market in short order. However, the market has begun to retrace those losses after finding support at $16.43-$16.44 for July, and $14.51 for September. The monthly Supply/Demand report helped the market find that support when released on April 11. There will be tough overhead resistance for July at $17.95. New crop September will have resistance just below $16. Smaller supplies, increased domestic and residual use, and higher exports all led to a reduced ending stocks number for the 2022/23 marketing year. Despite a 2 million cwt. increase, the export forecast of 61 million cwt. is the smallest export total since 1985/86.

Corn

Corn farmers reported intentions to plant nearly 92 million acres of corn this year, an increase of 4% over 2022. Arkansas farmers intend to plant 810,000 acres of corn, up 14% from last year, mostly at the expense of cotton acres. Corn futures have been supported in recent weeks by renewed buying from China. However, total corn sales for the marketing year are not 324 million bushels. That is down from 500 million at this time last year. The market has been choppy lately as a result. December charted a huge keyreversal to open the week, though, signaling that a potential bottom has been made. The market will have nearby resistance in the $5.75 area and additional resistance above that level around $5.95.

Soybeans

Soybean farmers intend to plant 87.5 million acres this year, unchanged from 2022. In Arkansas, farmers are expected to plant 4% fewer acres this year when compared to last year, with total planting intentions of 3.05 million acres. The market does seem to have found its bottom for the time being and has posted solid gains

this week. Support for May is now at a low of $14.05, while November support is at $12.47. Continued wet weather throughout the corn belt is causing some concern. A slow start to the planting season is likely to result in a shift of acres away from corn and into soybeans.

Livestock

In the USDA Prospective Plantings report, Arkansas farmers and ranchers reported plans to plant 1.13 acres of hay, up 3% from 2022.

Live cattle futures have exploded to the upside this week, with April futures moving to new eightyear highs. The recent selloff was speculative in nature based upon general economic concerns, but now cash market fundamentals are the focus of the market. The March Cattle on Feed report again confirmed that supplies in U.S. feedlots continue to decline from 2022. February marks the sixth-straight month of declining feedlot placements. Seasonal demand should improve wholesale beef prices in the upcoming weeks, providing additional support.

Weak cash market fundamentals continue to weigh on hog futures. June futures have moved to new lows after charting a bearish outside day last week. Support is building around $87.

Dairy

In the April supply/demand report, USDA raised its forecast for 2023 milk production on a larger cow inventory. Cheese and butter price forecasts were raised based upon current market data. Whey prices were also raised as demand is expected to strengthen. Class III prices are expected higher, while Class IV prices were projected lower. The all-milk price was projected higher at $20.65/ cwt.

EDITOR

Ashley Wallace ashley.wallace@arfb.com