Farm Bureau Press | October 13

OCTOBER 13, 2023 | VOLUME 26 | ISSUE 21

Farm Bureau Press A PEEK INSIDE

2023 ArFB FARMERS MARKET VENDORS ANNOUNCED ArFB has announced the 30 Arkansas vendors that will participate at this year’s state convention Farmers Market. The market is sponsored by the Arkansas Department of Agriculture's Arkansas Grown and Arkansas Made initiative.

The market will take place Nov. 29–30 in the trade show at the Statehouse Convention Center in downtown Little Rock.

Vendors include: • Whitton Farms, Tyronza

Arkansas Farm Bureau Hires Johnson as Director of Finance, Page 2

Continued on page 2

2023 Arkansas State Fair Livestock Show Schedule, Page 3

FOLLOW US ONLINE Food bank Donation | State Rep. Dwight Tosh, officials from Arkansas Farm Bureau and the Food Bank of Northeast Arkansas gathered Thursday morning to celebrate a $10,000 gift from the Farm Bureau Foundation, with $5,000 donations made for use in feeding programs in Cross and Poinsett counties, where spring storms had significant impact. In attendance for the donation included (from left) Sherry Felts, Farm Bureau state board member, Joiner; Amanda Williams, director, Farm Bureau Foundation; Rebecca Hendrix, chief development officer, FBNEA; Rep. Dwight Tosh, district 38; Don Mills, agency manager, Cross County Farm Bureau; Jordan Griffin, development officer, FBNEA; Harper Martin, food services coordinator, FBNEA; Jennifer Hannah, chief program officer, FBNEA and Tanner Riggan, NE District Director, ArFB.

GET THE LINKS Scan the QR code to access direct links referenced in each article.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

ARKANSAS FARM BUREAU HIRES JOHNSON AS DIRECTOR OF FINANCE Ricky Johnson has been hired as director of finance for the Arkansas Farm Bureau Federation. Johnson will manage the daily work of the department, including personnel involved in accounting, financial statements and overseeing the county records program.

Johnson, a Clarendon native, most recently worked as a corporate controller for Riceland Foods in Stuttgart. Prior to that he worked as a tax auditor and tax audit supervisor for the Arkansas Department of Finance and Administration.

A graduate of the University of Arkansas at Pine Bluff, Johnson became a Certified Public Accountant (CPA) in 2019. He is a member of the Arkansas Society of Certified Public Accountants and the American Institute of Certified Public Accountants.

YF&R DISCUSSION MEET APPLICATIONS OPEN The 2023 YF&R Discussion Meet will be held during the Arkansas Farm Bureau Annual Convention, Nov. 29–Dec. 1 at the Statehouse Convention Center.

First place receives $7,000 and the three runners up will each receive $500. Application deadline is Nov. 15.

The winner also receives san all-expenses paid trip to the American Farm Bureau Annual Convention. The convention will be held Jan. 20–24, 2024 in Salt Lake City, Utah.

Additional information, including discussion meet questions and resource materials, is available online.

2023 ArFB FARMERS MARKET VE Continued from page 1

‘Keith’s Kickin Pickle’ products (grown and pickled by Whitton Farms) honey, handcrafted dried floral wreaths, dried purple hull peas, cowgirl cookies, jelly jar arrangements, relish, chow chow, fresh produce • Ruthie Mountain Smoked Pepper Ground, hickory smoke-dried pepper spice • Squirrelly Homestead Jams, jellies, pickles and freeze dried candy • Firelight Farm Pickles and preserves • Farindale Farms Jams, jellies, prayer beads, recovery beads, metal crafts and horse shoe crafts • Fennel and Fire Spice and tea blends • Coy’s Southern Eats Seasonings • Sarah’s Smoked Specialties, Smoked salsa, nuts, spices and more • Urbana Farmstead Value added products such as crafts Italian seasonings, oils and more • Dogwood Hills Guest Farm Ricotta baked goods such as cakes and cookies

• Bennett’s Breads Fresh baked breads

• LaVonne’s Sweet T Homemade peanu brittle, homemade chocolate chip, cho m&m, oatmeal rais snickerdoodle and

• Moose River Supp Handmade soaps, l beard oils, wax mel roasted whole bean

• Magness Creek Fa Homemade jams, je sauces and pickled

• The Front Porch M Tomatoes and herb

• The Fortunate Mu Mushrooms

• Spring Creek Food Locally grown and and vegetables, as goods

• Treat Street Pet Ba All natural dog and

• Flying Pig Cattle C Goat milk soap and goods and homem

• The Herb Square Handmade organic

2023 ArFB FOUNDATION SILENT A The Arkansas Farm Bureau Foundation Silent Auction will be held Nov. 29–30 at the 2023 ArFB State Convention. Greenway Equipment is returning as the sponsor of the auction and will be matching proceeds from the event.

ArFB is inviting county Farm Bureaus to donate items to the silent auction with a retail value of $25 or greater. Counties wishing to donate larger items may choose to work with other county Farm Bureaus, other groups or agencies. Items unique to county or from a local store are encouraged.

Items need to be checked in and ready for bidding by 9:30 a.m.,

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A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

ENDORS

s and pastries

Treats ut and pecan e butterfinger, ocolate chip pecan, sin, peanut butter, sugar cookies

ply Co. lotions, bath soaks, lts, candles and n coffee

arm ellies, relishes, d vegetables

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d Hub produced fruits well as value added

akery d cat treats

Co. d fudge, baked made crafts

c soaps, lotions,

herbal salves, herbal face and hair care, herbal pet care, linen sprays, and more • Ozark Valley Bison Farm Genetically tested pure North American Bison from the only USDA-certified grass-fed herd in North America.

• Gum Creek Emus USDA-certified emu meat and emu products Service Award | Drew Co. Farm Bureau President Kerry Hartness (right) recognized Al Beaty for his 50 years of service to Drew Co. Farm Bureau at their annual meeting. Albert has been president, VP, and served on many committees during his years of service.

• Cowbell Ranch USDA-certified beef • Needle and Thread Hand embroidered sweaters • St. Joseph Farmstead Produce, USDA-certified meats, eggs, flowers, and value added products • Home Wrangler Luxury home essential products Locally made laundry detergent • Baucum Nut House Pecans • Bemis Tree Farm Honey • Natural State Lavender Co. Locally grown lavender and lavender products Be sure to stop by the Trade Show and visit the Arkansas Grown/Arkansas Made vendors.

Stone Co. Honorees | Dayton and Lauren McCarty, and their children, were recognized for being the County Farm Family of the Year and a finalist in the YF&R Achievement Award during the Stone Co. annual meeting. The meeting drew more than 200 at the Stone County Fairgrounds in Mountain View. ArFB Executive Vice President Jarrod Yates was the featured speaker.

AUCTION Nov. 29 in the trade show. If a county would like assistance in getting its item to convention in a timely manner, please contact your District Director.

Proceeds from the auction are used to further agriculture education in Arkansas, through programs like Ag in the Classroom, grants that are available for educational projects and support of Arkansas FFA and Arkansas 4-H youth programs, as well as other efforts supported by the ArFB Foundation.

If you need additional information, please contact Lindsey Rucker at lindsey.rucker@arfb.com or 501-228-1843.

2023 State Fair | The Arkansas State Fair runs Oct. 13–22.

You can attend many great livestock exhibitor shows and see the future of agriculture at work. Check out the show schedule and learn more online.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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MARKET NEWS as of October 11, 2023 Contact Brandy Carroll

brandy.carroll@arfb.com

Tyler Oxner

tyler.oxner@arfb.com

Rice Rice harvest in the Midsouth is winding down. Arkansas farmers have 89% of the crop in the bins.

Yield reports are impressive, but milling yields are reportedly disappointing. Harvest pressure has limited the upside for futures prices but concerns about global rice supplies are providing underlying support. Indonesia has announced plans to import an additional 1.5 million metric tons as drought has impacted its harvest. That brings its total imports to 3.5 million metric tons. U.S. prices remain favorable and export sales have been steady in recent weeks. Nearby November futures are underpinned by support at $15.60. The upside target for bulls is the recent high of $16.37.

Cotton Both December and March cotton futures continue to trade between support at 85¢ and resistance at 90¢. The bulls are focused on the state of the U.S. crop-particularly in Texas. Nationwide, 25% of the crop has been harvested. In Arkansas and Texas, that total is 32%. The difference comes in the condition of the respective crops. While 65% of the remaining crop in Arkansas is rated good to excellent, in Texas only 15% is in good to excellent condition. Recent losses in crude oil prices are creating competition from cheaper synthetic fabrics. Brazil is now estimating its 2023/24 cotton crop will be 3.002 MMT, down slightly from last year, but will still provide 4

competition in international markets.

Soybeans November 2023 soybeans prices hit a new four-month low before making a recovery. The next support level to watch for is at $12.45. The progress of the soybean harvest has been impressive, surging from 23% completion last week to 43% by Sunday. This pace surpasses both the 2022 mark of 41% and the five-year average of 37%. However, there was a slight dip in the condition of the soybean crop, with 51% still rated as being in good to excellent condition.

Surprisingly, soybean export inspections exceeded expectations, reaching 60.4 million bushels last week, far surpassing the trade estimates that ranged from 18.4 million to 30.3 million bushels. The majority of these exports, amounting to 52.0 million bushels, are destined for China.

Corn Throughout the week, December 2023 corn futures have closely tracked its 50-day moving average at $4.86. The U.S. corn harvest has progressed favorably, with the completion rate moving from 23% last week to 34% by Sunday, aligning with analyst predictions. This season’s progress outpaces both the 2022 figure of 29% and the five-year average of 31%. Corn quality ratings have remained steady with 53% of the crop maintaining a good-toexcellent condition. However, corn export inspections for the week ending Oct. 5 reached only 21.7 million bushels, a moderate decline from the previous week and at the lower end of the trade’s estimated range, which spanned from 21.7 million to 36.4 million bushels.

Wheat Despite recent declines in trade, wheat prices are holding steady above recent lows. The presence of rain in Southern Brazil is expected to

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

lead to reduced wheat production and lower grain quality. The planting progress for winter wheat has advanced from 40% a week ago to 57% by Sunday, slightly exceeding the average trade estimate of 56% and in line with the previous fiveyear average. As of now, 29% of this season’s wheat crop has emerged, up from 15% the previous week but slightly behind the prior fiveyear average of 30%. Wheat export inspections for the week fell within the range of analyst estimates, reaching 14.5 million bushels.

Cattle Live cattle futures continue to be under pressure from fundamental factors like poor packer margins, demand concerns, and weak packer margins. Technically, December futures have broken through the long-term uptrend drawn off the May low. Selling interest has been limited so far, but there appears to be downside risk to support at $182.

Feeder futures have clearly put in a top, and November is now testing support near $247.50. The general trend of smaller U.S. cattle supplies could help underpin the market.

Hogs The USDA Hogs and Pigs report released at the end of September provided a bearish surprise. The Sept. 1 hog herd and market hog inventory were above a year earlier.

Despite the breeding herd coming in at 98.8% of the total last year and the smallest since 2016, the number of pigs per litter set a new record at 11.61, 104.3% of the previous year.

However, strong weekly export sales and continued low-market weights gave the market some support.

December hogs have support at $68.

EDITOR Ashley Wallace ashley.wallace@arfb.com