Farm Bureau Press | June 9

Farm Bureau Press

ARKANSAS FARM BUREAU HIRES THREE SUMMER INTERNS

Arkansas Farm Bureau (ArFB) has named three college students for summer internships across the organization. The purpose of the internship program is to expand professional skills while gaining experience with the advocacy work done by the organization on behalf of state’s rural communities and agriculture industry.

Taylor Hoover, Southern Arkansas University

Taylor Hoover, a Vilonia native, will work with in three areas at ArFB: commodity and regulatory affairs, organization and member programs, and public affairs and government relations departments. Hoover will focus on research and data collection, with a specific focus on commodity and ag industry sectors. She is a junior studying agricultural education at Southern Arkansas University.

“I’m blessed to have been afforded this opportunity to become a greater advocate for agriculture,” Hoover said.

Catelyn Parker, Arkansas State University

Catelyn Parker, a Carlisle native, will work with the marketing division at ArFB. Parker is a senior at Arkansas State University, studying agricultural business with an emphasis in management and marketing. She currently serves as

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A PEEK INSIDE

Meat and Poultry Labeling: An Introduction to USDA’s Label Approval Requirements, Page 2

Clark Co. Beef Month Celebration, Page 3

Noralee Townsend

Taylor Hoover Catelyn Parker

A r FB SUMMER INTERNS

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president of the Collegiate Farm Bureau chapter at Arkansas State. Her responsibilities will include creative strategy, promotional planning, social media activation, digital photography, graphic design, web management and event planning.

“Farm Bureau has a community built around its members like no other,” Parker said. “Immersing myself within that community is going to help me see and understand Arkansas agriculture.”

Noralee Townsend, University of Arkansas

Noralee Townsend, a Rose Bud native, will work within the organization’s public relations department,

focusing on content generation, graphic design, video production and other communications disciplines. Townsend is a senior at the University of Arkansas, studying agricultural communications and agricultural leadership with minors in agricultural business and events management. She currently serves as the vice president of UA’s Collegiate Farm Bureau chapter and is a national officer for National Agricultural Communicators of Tomorrow.

“I am excited to be working with Arkansas Farm Bureau to help advocate for agriculture around the state,” Townsend said.

A r FB HOSTS FIELD DAY FOR TEACHERS

Arkansas Farm Bureau Federation gave teachers the opportunity to see the world of agriculture with the help of Economics Arkansas.

Teachers whom are not directly connected to agriculture came from across the state for the chance to be handson on in the field. The group experienced different ways to teach about agriculture careers and discovered ways to integrate an agricultural economics lesson into their lesson plans. They also received information about agriculture commodities within the state and a set of classroom materials to help them teach about general agriculture.

During the field day, educators toured farms in Lonoke County, with visits to Keo Fish Farms to learn about the aquaculture industry and Bevis Farms to learn about row

crops.

MEAT AND POULTRY LABELING: AN INTRODUCTION TO USDA’S LABEL APPROVAL REQUIREMENTS

The National Agricultural Law Center is hosting a webinar at noon on June 12, discussing the USDA’s Label Approval Requirements.

All meat and poultry labels are subject to approval requirements by USDA’s Food Safety and Inspection Service before they may be marketed. FSIS has divided these labels into two categories- those that receive generic approval of all components, and those that must receive specific or “sketch” approval based on FSIS regulations. For example, sketch approval is required for labels that include “special statements and claims,” those

that have been identified by FSIS as needing additional documentation. Recently, USDA has expanded the types of labels that may be generically approved.

John Dillard, OFW Law’s USDA Practice Group Lead, will provide an introduction to: (1) USDA’s approach to label approval; (2) USDA’s recently-expanded approach to “generic” approval; and (3) circumstances where priorapproval is required.

There is no cost for the course and those interested should register online

Arkansas Farm Bureau connected 43 teachers to the agriculture industry through this field day.

SUPREME COURT REJECTS HOG FARMERS’ ARGUMENTS AGAINST CALIFORNIA’S PROPOSITION 12

The Supreme Court has ruled against the nation’s hog farmers in their challenge against California’s Proposition 12 (Prop 12), a measure that prohibits the sale of pork from sows confined in gestation crates. The Court determined that Prop 12 does not violate the Constitution’s Commerce Clause.

The Supreme Court’s opinion was not unanimous, with justices presenting their reasoning in separate opinions on the various arguments raised by the petitioners. The American Farm Bureau Federation and National Pork Producers Council sought to overturn the 9th Circuit’s decision, contending that compliance with Prop 12 would impose significant costs to the pork industry.

This Supreme Court ruling has broader implications, beyond animal housing and will be of interest to the Farm Bureau membership.

Arkansas Farm Bureau is deeply disappointed by Court’s decision to uphold Prop 12. The ruling will likely have a significant and adverse impact on our state’s swine producers, including but not limited to increased compliance costs that will be particularly challenging for small and medium-sized producers. Additionally, the impact will reach grocery shelves, where consumers will likely pay a premium for pork products in order to address these extensive compliance regulations.

BECOME AN Ag INSIDER

Arkansas Farm Bureau's team of economists frequently provide data analysis and commentary on what impacts the Arkansas agriculture industry. The AgInsider is just one way the ArFB commodities and regulatory affairs team offers its expertise to producers across the state. Let our team be your partner for insight on the economic, marketing and regulatory issues that have the potential to impact your operation. Sign up to receive the AgInsider by texting INSIDER to 52886 now.

Beef Month Celebration | Clark Co. celebrated National Beef Month with mascot, “Beatrice the Bureau Cow.” Beatrice and her Farm Bureau crew served over 300 free beef lunches in a drive thru pickup. Those who received a lunch were also had the chance to win two steak dinners from the county office. During the event the city police got a “punked” call that a cow was loose in the road at the Farm Bureau office.

MARKET NEWS

as of June 7 , 2023

Contact

Brandy Carroll

501-228-1268 | brandy.carroll@arfb.com

Tyler Oxner

501-228-1311 | tyler.oxner@arfb.com

Rice

The rice market for both old and new crop have moved higher in the recent weeks. Old crop found support around $16.50 and has since moved above $18.00. September 2023 rice has moved back above $15.00 from the recent contract low of $14.30. Current dry weather is playing a part in the recent market increase as it has been around 2-3 weeks since the state has had any appreciable rainfall, affecting the crop condition.

With planting mostly complete for the U.S. and the state the focus turns to condition. The most recent crop report showed a 2% decrease in crop condition for U.S., down to 70% Good/Excellent. Arkansas has also reported a decrease of around 6% to 62% Good/Excellent.

Cotton

The cotton market had been struggling amid weather, positionsquaring, and the strength of the U.S. dollar. A new round of export sales will be reported later this week, along with updates for supply and demand. Rain continues to fall for key parts of the state, helping move production along and put further pressure on a breakout. Old-crop futures have been bouncing up and down finding support at 80 cents and nearby resistance at 87 cents. New crop cotton continues to run into resistance at 84.5 cents, while nearby support begins at 79.5 cents.

Cotton farmers are wrapping up planting, with 71% of the crop now being in the ground. Arkansas farmers are reported to be done planting, with a current crop condition of 83% good/excellent.

Soybeans

Brazil’s record soybean harvest has left the demand side of soybeans a bit quieter, as it has taken over the world’s export business. USDA reported 6.1 million bushels (mb) of old-crop soybeans were sold to Spain. However, old-crop soybeans still need 68 mb more in sales to reach the USDA’s export estimate of 2.015 billion bushels (bb). New crop soybeans rebounded off a recent November 2023 contract low of $11.30. The most nearby point of resistance is at $12.00. Some pressure could be seen in the coming days as cooler temperatures and rain come to the Midwest. While traders are expecting to see Friday’s USDA report to show a slight drop in yield and production.

Soybean planting is reported to be 74% complete for the U.S., with Arkansas being nearly done at 87% completed. The most recent planting reported gave a first look at soybean conditions, with the U.S. having currently having 62% of the crop being rated Good/Excellent. Current crop condition for Arkansas is 59% Good/Excellent.

Corn

September 2023 and December 2023 corn futures moved higher over the past few weeks since dropping below $5.00. A favorable weather outlook and dull demand will continue to add pressure on prices. This week The Office of the U.S. Trade Representative (USTR) has announced formal dispute settlement consultations with Mexico, under the U.S.-Mexico-

Canada Agreement (USMCA), regarding measures restricting agricultural biotechnology that will impact U.S. corn exports. Other influential events contributing to prices are events in Ukraine and crop condition. Brazil is expecting a good safrinha corn crop, but a cold front next week could bring some frost that might give prices a push higher. With all key northern hemisphere crops mostly in the ground, the supply and demand estimates are not expected to change.

The most recent report showed the U.S. corn condition is 64% good/ excellent down 5% from a week ago and 9% from this time last year. Arkansas corn condition currently sits at 58% good/excellent and 8% very poor/poor.

Livestock

Live Cattle futures have seen a strong bull run in the last week, since June 1 August contracts have risen $10/CWT. Feeder cattle markets continue to gain momentum and have seen similar gains to the Live Cattle contracts. Cattle prices are being driven by a projected bumper corn yield this fall and expected national herd contraction through the remainder of the year.

Hog prices continue to lag as domestic demand struggles to reduce the cold storage stocks of pork. While harvest rates have fallen in the last several weeks higher carcass weights have negated much of the contraction, until the most recent week where we saw a reduction by 10% in pork harvest volume.

EDITOR

Ashley Wallace ashley.wallace@arfb.com