Farm Bureau Press | November 19

NOVEMBER 19, 2021 | VOLUME 24 | ISSUE 23

Farm Bureau Press A PEEK INSIDE

AR BROADBAND NOW PROJECT OVERVIEW Broadband Development Group (BDG) was awarded a contract in the amount of $2.2 million by the Arkansas Department of Commerce to develop a statewide broadband master plan to ensure all residents, regardless of their location, have coverage. The official name coined for this effort is called the “AR Broadband Now" project.

In conjunction with many county Farm Bureaus, BDG will be conducting a series of community and townhall meetings to get firsthand feedback and opinions from local residents and businesses about their internet service and experiences. Your assistance in connecting Broadband Development Group with your constituents and leaders, including leaders of cities and towns, will be helpful in the plan formulation. The data and feedback collected are important elements in creating the statewide broadband strategy and implementation plan.

USDA Introduces New Insurance Policy for Farmers Who Sell Locally, page 2

This project began in late 2021 and will conclude in April 2022.

The final broadband master plan for Arkansas will include: • Data collection and analysis of current broadband availability • Recommendation for broadband deployment throughout the state with an analysis of the current efforts in the public and private sector

New Promotional Opportunity for Agritourism Venues, page 3

• Detailed recommendations on technology, equipment type, staffing and program administration and a proposed community outreach plan that could be used in the deployment of broadband.

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• Recommendations to increase affordability of internet service for residents For additional information or questions, please contact the AR Broadband Now office at arbroadbandnow@bdg.link or by phone at 501-712-5275 or Phillip Powell at philip.powell@arfb.com or 501-366-0110.

Arkansas FarmBureau

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A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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ARKANSAS FFA VIRTUAL 5K TURK Arkansas FFA invites you to join the second annual Virtual 5K Turkey Trot in partnership with The Poultry Federation (TPF). The two organizations have partnered to help raise awareness and to celebrate the turkey industry in Arkansas.

Gather up your flock and join us (virtually), anywhere and anytime between Nov. 19–27.

Whether it’s on a bike path, a State Park, around your neighborhood or in a pasture, actively show your appreciation for the turkey industry that is here in Arkansas and support the Arkansas FFA Foundation and agriculture education.

2021 Event Details Run or walk a 5k (3.1 miles) at the location and time of your choosing between Nov. 19–27. Still full of turkey and stuffing?

Sign up for a "No-K" and show your support of the turkey industry and the Arkansas FFA. All ages are welcome.

USDA INTRODUCES NEW INSURAN FOR FARMERS WHO SELL LOCAL The U.S. Department of Agriculture (USDA) is rolling out a new insurance option specifically for agricultural producers with small farms who sell locally. The new Micro Farm policy simplifies record keeping and covers post-production costs like washing and value-added products.

USDA’s Risk Management Agency (RMA) created this new policy based on research directed by the 2018 Farm Bill, and it includes feedback from producers who grow for their local communities.

The policy will be available beginning with the 2022 crop year.

The new policy is offered through Whole-Farm Revenue Protection (WFRP) and it has distinct provisions that can provide more access to the program, including: • No expense or individual commodity reporting needed, simplifying the recordkeeping requirements for producers • Revenue from post-production costs, such as washing and packaging commodities and value-added products, are considered allowable revenue Food Bank Donations | The Arkansas Farm Bureau Women's Leadership and the Arkansas Farm Bureau Young Farmers & Ranchers Committee recently partnered to make $1,000 donations to each of the six food banks in Arkansas through the Rural Health and Wellness Program. ArFB is proud of the work our committees are doing!

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The Micro Farm policy is available to producers who have a farm operation that earns an average allowable revenue of $100,000 or less, or for carryover insureds, an average allowable revenue of $125,000 or less. RMA’s research showed that 85% of producers who sell locally reported they made less than $75,000 in gross sales.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

KEY TROT The race fee is $35 and includes a t-shirt. Registration ends Nov. 27 at 11:59 CST. To register, visit cutt.ly/2021TurkeyTrot5K. Once you complete the distance, you will upload your time below. Submitted times are based on the honor system, and runner assumes all risks in this self-coordinated, remote event.

This race has no setup, chip-timing, or specific on-site location.

The fastest time in each of the following divisions will receive a commemorative Turkey Trot trophy.

• FFA Member (age 13-21) • FFA Supporter (over 21 or non-member) • Future FFA Member (under 13) Proceeds from the second annual Arkansas FFA Virtual 5k Turkey Trot will benefit the Arkansas FFA Foundation which enhances teacher resources to be used to motivate, equip and to encourage high school FFA members who are enrolled in agriculture education.

For questions, contact Jennifer Cook, Arkansas FFA Foundation Director at jennifer.cook@arkansasffa.org or (501) 472-3881.

NCE POLICY LLY “We are excited to offer this new coverage for producers who work to provide their communities with fresh and healthy food,” said RMA Acting Administrator Richard Flournoy. “USDA is focused on supporting local and regional food systems, and this new crop insurance policy is designed with this important sector of agriculture in mind.”

NEW PROMOTIONAL OPPORTUNITY FOR AGRITOURISM VENUES The American Farm Bureau Foundation for Agriculture is looking for orchards, pumpkin patches, corn mazes and more to showcase on a new app dedicated to connecting consumers with agritourism venues.

The American Farm Trail app, created by the Foundation and sponsored by Corteva, allows farmers, ranchers and farm attraction managers to sign up for free to showcase their agritourism venues. Farms and attractions can create a profile promoting their business, history, available products and more.

Consumers using the app will be able to connect directly with local farms by searching area, type of attraction, or products for sale. The Foundation plans to launch the app in the spring of 2022.

For more infomation about the app, visit www. farmtrailapp.com. Resources are available to farmers interested in listing their farm on the app, including a video overview of the app and a how-to guide for filling out the attraction listing information.

The Micro Farm policy builds on other RMA efforts to better serve specialty and organic crop growers. This includes WFRP, which provides coverage for producers with larger operations that may not be eligible for Micro Farm. RMA recently made improvements to WFRP as part of a broader set of new policies and expanded policies to assist specialty crop and organic producers.

The Federal Crop Insurance Corporation approved the Micro Farm policy in late September, and additional details will be provided later this fall.

More Information Crop insurance is sold and delivered solely through private crop insurance agents. A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator.

Learn more about crop insurance and the modern farm safety net at rma.usda.gov.

Delegation Lunch | Jarrod Yates, director of Public Affairs and Government Relations, recently attended a luncheon hosted by the Arkansas delegation Chiefs of Staff. Chiefs of Staff play a critical role within their respective offices and we are grateful for the work they do on behalf of our state’s farmers and ranchers. In attendance were (from left) Jonah Shumate, Rep. Rick Crawford's office; Beau Walker, Rep. Steve Womack's office; Madison Nash, Rep. Womack's office; Jarrod Yates; Brooke Bennett, Rep. French Hill's office and Toni Marie Higgins, Sen. John Boozman's office.

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

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MARKET NEWS as of November 17, 2021 Contact Brandy Carroll 501-228-1268 brandy.carroll@arfb.com Livestock and Poultry The forecast for 2021 red meat and poultry production was raised from the previous month in the November Supply/Demand report.

Beef production was raised on higher expected slaughter rates and heavier carcass weights. Pork production is expected to increase as heavier carcass weights more than offset a smaller slaughter total. The broiler production forecast was raised on recent hatchery and slaughter data.

The egg production forecast was raised on recent production data and higher expected table egg production in the 4th quarter.

For 2022, the total red meat and poultry forecast was raised from last month. Beef and turkey production forecasts were raised, while pork and broiler production forecasts were unchanged from last month.

Cattle price forecasts for 2021 and 2022 were raised on continued firm demand. The hog price forecast was reduced for fourth-quarter 2021 on recent price weakness, and the annual price forecast was lowered. The 2021 and 2022 broiler and turkey price forecasts were raised from previous month on current prices and expected strength in demand.

Dairy In the November supply/demand report, the milk production forecasts for 2021 and 2022 were reduced from the previous month on lower expected dairy cow numbers and slower growth in milk per cow. Fat basis import forecasts for 2021 and 2022 were reduced on lower expected imports 4

of butterfat products. Fat basis export forecasts for 2021 and 2022 were raised on higher expected exports of cheese and butterfat products.

Butter, nonfat dry milk, and whey price forecasts for 2021 were raised from last month on strength in demand and lower expected production.

The cheese price forecast for 2021 is reduced on current prices and continued large supplies. The 2021 Class III price forecast is reduced from last month as the lower forecast cheese price more than offsets the higher whey price. The Class IV price forecast was raised on higher NDM and butter prices. The 2021 all-milk price forecast was raised to $18.50 per cwt.

The all-milk price for 2022 was raised to $20.25 per cwt.

Rice USDA is now forecasting record rice yields across the country, with the national average yield pegged at 7,756 pounds per acre. Arkansas, California, Missouri, and Mississippi are all forecast to set a new record.

Total production is now pegged at 193.8 million cwt, up 3.3 million since the previous report. The increase in production was partially offset by a 1 million cwt decrease in the import forecast, but exports were also reduced by 1 million cwt as sales and shipments have been disappointing. Domestic and residual use was increased 1.5 million cwt. Projected 2021-22 all-rice ending stocks were raised 1.8 million cwt to 35 million, which is down 20% from last year. The projected on-farm price is $13 for long grain and $14 for medium grain. Technically, the trend is sharply higher after the January contract bottomed out at $13 early this month before putting over a dollar back on the market in short order. The market needs to close above resistance at $14.20-$14.21 in order to suggest further gains are possible.

Soybeans The outlook for soybeans for 21/22 is for lower production and exports and higher ending stocks. Soybean production was pegged at 4.42 billion

A PUBLICATION OF THE ARKANSAS FARM BUREAU FEDERATION

bushels, down 23 million bushels on lower yields, specifically in Indiana, Iowa, Ohio and Kansas. The export forecast was also lowered this month to reflect the slower pace of shipments so far this marketing year. The net result of the report was a 20 million bushel increase in the ending stocks estimate – which is now expected to be 340 million bushels. The U.S. season-average price for 2021-22 is now pegged at $12.10, down 25 cents from the previous report. Technically, the nearby January contract charted a huge bullish reversal in reaction to the report. The market is still facing trendline resistance, but a close above the trendline could signal a retest of resistance near $13.

Cotton The cotton balance sheet was mostly unchanged in the November report.

U.S. production was raised to 18.2 million bales, while domestic mill use and exports were unchanged.

U.S. ending stocks are pegged at 34 million bales, up 200,000 bales from the previous report. The on-farm average prices was unchanged at 90 cents/pound. That’s a 36% increase from 2020. December cotton is consolidating in a more sideways pattern just below resistance at the contract high (which is also a 10-year high) of $1.2167/lb.

Corn There were few changes for corn in last week’s reports. A slight decrease in projected carryover supplies to 1.49 billion bushels due to improved cornfor-ethanol projections was the only change. The expected on-farm price was unchanged from last month at $5.45/bushel. December is in position to challenge resistance at $5.86. A close above that level would suggest an upside objective of $5.94¼. Support begins at $5.47¾.

EDITOR Ashley Wallace ashley.wallace@arfb.com