Farm Bureau Press | August 4

Farm Bureau Press

ARKANSAS FARM BUREAU

2023 TOP YOUNG FARMERS & RANCHERS RECOGNIZED

John Michael and Rachel Bearden of Friendship (Hot Spring Co.) and Chris and Brooklyn Heiser of Lamar (Johnson Co.) earned the top Young Farmers & Ranchers awards during Arkansas Farm Bureau’s annual Officers & Leaders Conference at the Hot Springs Convention Center. The awards honor young farmers and ranchers ages 18-35 for the general excellence of their operations and their hard work and innovation.

With the YF&R Achievement Award, the Beardens received a $35,000 prize and a trip to the 2024 American Farm Bureau Convention in Salt Lake City, Utah to compete for the national award. 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 in full-time production agriculture with a majority of their income subject to normal production risks.

2023 ArFB Officers & Leaders and Women's Leadership Conference, Page 2 Market Report, Page 3

Top YF&R Honors | Left to right are Young Farmers & Ranchers Chair Monica Paskewitz, Lexie Grace, John Michael and Rachel Bearden, Young Farmers & Ranchers Vice Chairs Tara and Brad Peacock, ArFB Vice President Mike Freeze and ArFB President Rich Hillman.

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2023 TOP YOUNG FARMERS & RANCHERS

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The Achievement Award is sponsored by the Southern Farm Bureau Casualty Company.

The Beardens own and operate Fowler & Bearden Farm, where they raise 250 cow-calf pairs. In addition to their cattle, they own a track of timber, grow hay and raise horses and cross-bred sheep. The Beardens are sixthgeneration and seventh-generation farmers and had the unique opportunity to purchase their own part of the family farm.

The Heisers received the YF&R Excellence in Agriculture Award, which recognizes the accomplishments of individuals or couples who earn the majority of their income through off-farm efforts, but who are involved in farming and Arkansas Farm Bureau.

The Heisers have a commercial and registered cattle herd of SimAngus and angus cattle. Off the farm, Chris manages Wilkins Farms and Brooklyn manages Sweet Treats Sandwich and Pie Shop.

They are evaluated on their understanding of agricultural issues, as well as leadership, achievements and involvement in Arkansas Farm Bureau and other organizations. The Excellence in Agriculture Award is sponsored by Arkansas Farm Bureau Mutual Company and Publishing Concepts Inc.

As winner of the Excellence in Agriculture Award, the Heisers received an $11,000 cash prize and a trip to the 2024 American Farm Bureau Convention to compete for the national award.

Board Service | Retired state board members (top) Joe Christian of Jonesboro, (middle) Tom Jones of Pottsville and (bottom) Rusty Smith of Des Arc were presented plaques recognizing their tenures on the Arkansas Farm Bureau board at an event before the recent Officers & Leaders Conference. Christian served the board from 2002-22, including six years as secretary-treasurer. Jones also served from 2002-22 while Smith served from 1999-2022.

Left to right are Young Farmers & Ranchers Vice Chairs Tara and Brad Peacock, Brooklyn and Chris Heiser, Young Farmers & Ranchers Chair Monica Paskewitz, ArFB President Rich Hillman, and ArFB Vice President Mike Freeze.

1) The 75th Officers and Leaders Conference began with a general session and address from ArFB President Rich Hillman. 2) Attendees of the event were invited to join in the inaugural ArFB Family Cookout, with proceeds benefiting the ArFB Foundation. 3) This year's eventin Hot Springs welcomed more than 600 attendees. 4) Dr. Deacue Fields, Vice President for Agriculture for the University of Arkansas System, updated attendees on the future of the Division of Agriculture. 5) Guests from across the state visited in the ArFB trade show booth. 6) Former college football coach and keynote speaker Steve Roberts spoke about motivation and personal goals. 7) This year's theme was "Navigating the Future," with many generations of farmers and ranchers in attendance.

1) Panelists explained details of the other state Farm Bureaus operate their political action committees. 2) ArFB President Rich Hillman speaks to Brandon and Lauren Martin (White Co.). 3) Members learned from AFBF's Jessica Cabrera about the “easy buttons” for grassroots volunteer leaders to be effective. 4) Two rounds of morning workshops covered a number of topics. 5) & 6) Agency managers and others volunteered to prepare BBQ for the ArFB Family Cookout. 7) The Story family was recognized as a YF&R Achievement Award finalist by YF&R Chair Monica Paskewitz (left) and YF&R Vice Chairs Brad and Tara Peacock (right). 8) The McCarty family was recognized as a YF&R Achievement Award finalist by YF&R Chair Monica Paskewitz (left) and YF&R Vice Chairs Brad and Tara Peacock (right). 9) Hannah Walker was recognized as a YF&R Excellence in Ag Award finalist by YF&R Vice Chairs Brad and Tara Peacock (left) and YF&R Chair Monica Paskewitz (right). 10) The Kelley family was recognized as a YF&R Excellence in Ag Award finalist by YF&R Vice Chairs Brad and Tara Peacock (left) and YF&R Chair Monica Paskewitz (right).

1) The Women's Leadership Conference kicked off with a general session and classroom activity demonstrated by the State Women's Leadership Committee. 2) Books and education ideas were on display for attendees to take back to their counties. 3) Attendees enjoyed a dinner and entertainment by Kordsmeier Music on Friday night. 4) The general session also featured breakout sessions for attendees to meet with their districts and share ideas. 5) Jana Carroll, The Thankful Farmer, hosted a workshop on "Telling Your Heart Story." 6) Brandi Buzzard, a motivational speaker and advocate, was the keynote speaker and presented "Standing Up For the Industry We Love." 7) Jeanie Rowbotham, Johnson Co. Extension Agent, was part of the "Education and Its Outreach" workshop, where attendees learned how to utilize ArFB education programs and materials through their WLC. 8) Lindsey Holtzclaw, director of marketing for Farm Credit of Western Arkansas, hosted the workshop "Stepping Up Your Social Media." 9) Sara Beth Johnson, social media specialist at Filament Ag, hosted the workshop "Haters Gonna Hate: Navigating the Negative in Social Media."

MARKET NEWS

as of August 2, 2023

Contact Brandy Carroll brandy.carroll@arfb.com

Tyler Oxner tyler.oxner@arfb.com

Corn

The recent surge in corn prices has been offset by several factors, including cooler and wetter weather forecasts and the appreciation of the U.S. dollar. This downward price trend followed a decline in the overall conditions of the corn crop, which were expected to decrease by 1%, but saw a 2% decrease, resulting in a rating of 55% for the good to excellent category. It is worth noting that the ratings updates released on Monday are likely to be considered temporary due to the projected arrival of anticipated rainfall and moderate temperatures across a significant portion of the Heartland region. Furthermore, the corn crop conditions in Arkansas closely mirrored the national average for the good to excellent category, showing a modest 1% decrease compared to the previous week. As for the U.S. export market, it continues to face significant competition from the Brazilian crop, presenting challenges for the industry.

Soybeans

On Monday, soybean futures experienced a significant downward gap, declining by 51 cents. However, the market saw a subsequent resurgence in international interest following favorable export inspection volumes and fresh announcements of Chinese purchases. Despite these positive developments, similar to corn, the soybean market faced limitations on its gains due to a stronger dollar, reduced domestic

usage rates, and improved weather forecasts in the coming days. Moreover, soybean ratings witnessed a larger-than-expected decline as a result of last week's high temperatures, with the good to excellent rating dropping by an additional 2 points, reaching only 52%. Arkansas soybean conditions mirrored the national trend, also experiencing a 2% decrease, resulting in a good to excellent rating of 69%. In terms of projections, the soybean crush for June 2023 is anticipated to fall within a trading range of 173.5 million to 177.0 million bushels. If this estimate materializes, it will mark the smallest monthly crush volume since September 2022.

Rice

Last week, India announced that all exports of non-Basmati exports would be immediately banned. India is citing crop damage from excessive monsoons as the reason for the export ban. The July WASDE shows expectations for India to produce 134 million metric tons and have a carryout of 32 million metric tons for the 2023/24 marketing year, so there is the possibility that the forecast will change. In reaction to the ban, U.S. futures prices rallied to new four-month highs before charting a bearish reversal. Trading has been a bit erratic in recent days, and September has yet to close above resistance at $16. At home, the crop is in relatively good shape, although excessive heat has caused the crop condition ratings to drop. In Arkansas, 67% is now rated good to excellent, down 6 points from last week. Roughly 60% of the crop in Arkansas is headed, which is well ahead of the 5-year average of 46%. Exports remain disappointing, as U.S. prices are not considered competitive. Last week’s exports were only 15,100 metric tons.

Cotton

After climbing to new 10-month highs, December cotton futures charted a huge bearish reversal. That top of 88.39 cents could prove to be difficult resistance. Hot, dry conditions in Texas and questions about the yield potential of the crop drove the market higher. Currently 17% of the crop in Texas is rated good to excellent, while 50% is rated poor to very poor. A terrible export report last week helped to turn the market around when USDA reported net cancellations of 18,700 bales for the current marketing year and only 80,600 bales for next year.

Livestock

Traders observed that the current cattle supply situation and the likelihood of packers offering higher bids prompted them to anticipate increased prices this week. Higher volumes of cash cattle trades were expected as the past two weeks have seen trades pushed to Friday. Boxed beef prices also rose, with choice beef increasing by $4.32 and select beef by $1.87. These gains on Tuesday may indicate a shift from the steady-to-lower trend that had been developing.

Regarding hog futures, they initially showed strength with new highs on Tuesday, but later experienced selling pressure. The initial strength was due to robust cash and higher cutout prices on Monday. However, ongoing uncertainty in demand is causing December and later contracts to remain mostly sideways to lower. Expectations for the week were that cash prices will rise again, as packers have been more active in purchasing during the first half of the week to ensure an adequate supply.

EDITOR

Ashley Wallace ashley.wallace@arfb.com