Farm Bureau Press | June 23

Farm Bureau Press

YATES NAMED EVP AT ARKANSAS FARM BUREAU

Jarrod Yates has been named executive vice president of the Arkansas Farm Bureau Federation, whose board of directors chose him on Monday to lead the staff functions for the agricultural advocacy organization. He will report to ArFB’s board of directors.

Yates, 42, has served for the past two years as director of public affairs and government relations for ArFB, where he led the national affairs efforts. He spent 2014-21 helping lead the governmental relations function at Arkansas Blue Cross and Blue Shield before joining Farm Bureau. He was chief of staff for Congressman Mike Ross from 2009-2011.

Yates was born in Fayetteville and raised in Prescott (Nevada County), which he considers his hometown. His family has farmed most of his life. He currently has a cattle operation along with his father and brother in Nevada County. They were previously involved in the poultry business.

“This is a critical time for the Arkansas Farm Bureau,” said Rich Hillman, a farmer from Carlisle who serves as president of Arkansas Farm Bureau. “The promotion of Jarrod Yates will help us bring an extreme focus on several important and timely issues, including working through a Farm Bill, offering a healthcare benefit to our members and reinforcing Farm Bureau’s role as the largest agricultural advocate in our state.”

Arkansas Farm Bureau was founded in 1935 to provide agricultural advocacy

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2023 ArFb Conferences: O&L and Women's Leadership, Page 2

2023 ArFb Foundation Trap Shoot, Page 3

Jarrod Yates

YATES NAME Ar FB EVP

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in support of the state’s farm and ranch communities.

“The challenge of Farm Bureau is to ensure that farmers and ranchers are an engaged part of our organization,” Yates said. “Collectively, they make up our state’s largest economic engine. Ensuring their needs are reflected and conveyed effectively to lawmakers, regulators and decision makers is the most important function of our organization.

“I am humbled by the faith and trust our board has demonstrated by this decision. I will do my best to ensure the mission of Farm Bureau continues to be the focus of our staff and our leaders.”

2023 A r FB O&L AND WOMEN'S LEADERSHIP

The ArFB 2023 Officers & Leaders Conference will be held July 20–21 at the Hot Springs Convention Center, the theme is Navigating the Future.

Registration is open online, check in will begin at 10 a.m. July 20, with a 1 p.m. general session to get the conference started. Get all the details for the conference here.

Highlights of the 2023 Officers & Leaders conference include:

• Farm Bureau perspective from Arkansas Farm Bureau President Rich Hillman;

• Presentation of the Young Farmers and Ranchers Achievement and Excellence in Ag awards;

• Workshops and Summer Commodity Division Meetings;

• A keynote address by Coach Steve Roberts;

• The first ever Foundation BBQ Thursday night, tickets will be available for $40.

The ArFB 2023 Women’s Leadership Conference will be held

2023 A r FB FOUNDATION TRAP SHOOT

The Arkansas Farm Bureau Foundation held its annual Trap Shoot June 9 at the Arkansas Game & Fish Foundation Shooting Sports Complex in Jacksonville. This year 43 teams competed, with 21 adult teams and 22 youth teams participating.

Prizes were awarded to the top three adult and youth teams as

2023 Scholarships | Hempstead Co. Farm Bureau recently recognized its 2023 scholarship recipients with a reception at the county office. This year the county awarded nine scholarships. Agency Manager Reed Camp spoke to recipients and guests and Board President Mark Lloyd presented honorees with certificates. Since the inception of the scholarship program in 1978, Hempstead Co. has awarded more than $98,000 to graduating seniors in the community. Pictured (from

left) are Harlie Lockhart, Caden Dice, Darci Durham, Libby Flowers, Savannah Jackson, Hayden Quillin, Barrett Currie and Ana Marie Watkins. Not pictured, Katelynn Alexander.

2023 Top Shooter

LEADERSHIP CONFERENCES

July 21-22 at the Hot Springs Convention Center, this year’s theme is Shaping the Future. The event will kick off directly after the Officers & Leaders Conference.

Register now online, check in will begin at noon July 21 and programming will start at 3 p.m. Friday with an address from President Rich Hillman, followed by a networking session. Dinner Friday will be in Horner Hall at the Hot Springs Convention Center with entertainment by Kordsmeier Music. Saturday’s agenda will include a general session workshop on fear-based marketing, followed by three sessions of workshops.

The conference will wrap-up with a luncheon keynote titled “Standing Up for the Industry We Love” from Brandi Buzzard, rancher and cowgirl from southeast Kansas. A tentative conference agenda can be found online.

Both conferences will utilize a new online platform to streamline the registration process for attendees. The rollout for this program will be within a few weeks and more information will follow.

Union Co. M*A*S*H | The Union Co. Medical Applications of Science for Health (M*A*S*H) camp recently concluded with graduation. The Union Co. Women’s Leadership Committee hosted a reception for the graduates and their families. The M*A*S*H program, sponsored by ArFB and UAMS, is designed for students interested in a career in the medical field. The two-week camps are free and take place around the state.

well as the top shooter. Each year half of net proceeds from the shoot directly benefit the Arkansas 4-H and Arkansas FFA Foundations, while continuing to support the goals of the ArFB Foundation. Photos from the event can be found online

Decades of Service | Ruele Holland was recently recognized for 55 years of service to the Sebastian Co. Farm Bureau Board by fellow board member Brian Holland.

Dallas Co. WLC | The Dallas Co. Farm Bureau recently hosted a Women’s Leadership Committee interest meeting. Agency Manager Doug Pettit and Director of Women's Leadership, Amanda Williams, met with attendees about opportunities to work within the community.

2023 First Place Adult Team

2023 First Place Youth Team

MARKET NEWS

as of June 21 , 2023

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

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

Rice

Movement in rice futures has been erratic in recent weeks. Old crop July peaked last week at $19.92 before turning sharply lower. New crop futures haven’t experienced the same volatility, but Tuesday’s close above previous resistance at $15.50, which had capped the market for the past two months, opened the market to the possibility of a retest of resistance near $16. The market is mainly focused on the condition of the U.S. crop, with 70% of the crop is rated good to excellent. In Arkansas, only 65% of the crop is rated good to excellent, as hot, dry conditions stress the crop. In the June supply/ demand report, USDA lowered the long grain carryout estimate by 1 million cwt, thanks to an increase in the export projection. Last week’s export totals were extremely disappointing, though, coming in at just 10,400 metric tons.

Soybeans

Soybeans have staged a surprising rally in the past week. The market has been fueled by short covering and strength in soy oil and palm oil futures. Traders are also worried about the crop. Drought-like conditions are prevalent throughout the Midwest. Nationwide, 54% of the crop is in good to excellent condition, down from 59% last week and 68% a year ago. In Arkansas, though, the crop is faring a bit better, with 71% rated

good to excellent. Weather markets can turn around fast if conditions improve. For now, though, the forecast remains hot and dry for many growing regions. November futures could test resistance between $13.86 and $14.

Corn

Corn futures have also rallied in recent days. December futures charted a new 10-month high this week, and a close above the $6 mark would suggest further gains are possible. Monday’s crop conditions report gave the market an additional boost, as the condition of the crop is deteriorating rapidly. USDA says that 55% of the crop is now in good to excellent condition. That’s down from 61% last week and 70% last year. Traders are beginning to think it will be difficult for farmers to meet the current USDA forecast of 181.5 bushels/acre and that corn supplies will be tighter in the fall. The current weather forecast shows little chance for meaningful relief.

Cotton

Cotton futures have not followed the grain markets. December cotton is in position to test trendline support near 79.5 cents. Overhead resistance begins at 82.5 cents. 47% of the crop is rated good to excellent, mostly due to poor conditions in Texas, where only 30% of the crop is rated good to excellent. In Arkansas, 81% of the crop is rated good to excellent. The June 30 Plante Acreage report could provide some support, as analysts think the current estimate of 11.25 million acres is too high.

Wheat

Wheat prices are sharply higher, mostly on carryover strength from corn and soybeans. Open interest

has dropped, though, indicating the rally might be short-lived. For July, there isn’t much technical resistance below the $8 level, while the most active September contract has some resistance around $7.46.

Livestock and Poultry

In the June Supply/Demand report, USDA reduced the U.S. red meat and poultry production forecast as lower pork and poultry production more than offset a higher beef production forecast. Beef production is expected to rise on higher slaughter totals. Pork production was lowered on lighter carcass weights. Broiler production estimates were reduced on the pace of slaughter and recent hatchery data. The 2023 cattle price forecast was raised from last month on improved demand. The hog price forecast was raised from last month for the second quarter. Broiler, turkey, and egg price forecasts were reduced on current price data.

Hog futures have rallied sharply in recent weeks, but rallies in corn and soybeans have offset those gains for hog producers. Many hog producers are currently losing money, and as a result, there is evidence of herd liquidation. Sow slaughter for the week of June 3 was up over 12% according to USDA. Live cattle futures are looking toppy, as deferred contracts have charted key reversals. Selling interest has been limited so far, however. Uptrending support is near $165 for the August contract.

EDITOR

Ashley Wallace ashley.wallace@arfb.com