Well what a difference a week makes as there was no precipitation last week(June 19-25)and very little called for this week with just a slight chance Monday and Tuesday. We could use a good 1-2 inch rain soon. It was a great week as farmers were able to get most of the Wheat and Oats harvested. There are about 10% left that will finish up this week. It was a good year as the wheat made from 50 to 80 bu/ac, with test weights in the mid to upper 50’s. Oats made from 70 to 90 bu/ac, with test weights in the upper 20’s to 30’s. The Corn crop looks real good but is starting to need a good drink of water as it is for the most part in the dough stage. The Milo is looking good so far, but it too could use a rain. Most of the Milo is headed out and some is even coloring, of course it depends on how early it was planted and the variety. The variety makes a big difference as I have some milo in a test plot with nine varieties, all days to weeks apart on heading and coloring. The Soybeans still look good and should start flowering soon. The Cattle are fat and happy with ample grass so far, but this will change in a few weeks if we don’t get some rain. Some Stocker operators have shipped and others continue to ship a few loads each week as the forage declines. A lot of the producers have held on to their yearlings longer this year because of the good grass available. Why not graze it while they have it, because with no rain it will go south in a hurry the next few weeks. The Cattle market is tough and after talking to a few folks today there are not as many producers hedged as I had thought last week, and some even pulled them. Its a tough decision to make with the market so up and down, mostly down here lately. Producers are hopeful that the market will come back up but if not calves are going to be a lot cheaper this fall and early winter. Most everyone made a great hay crop this year as winter and spring forage has been excellent. The Sudan and Hay Grazer looks good too and folks will be knocking it down before long.
This Monday morning, June 27, 2016, the markets are all up a little, after closing last Friday in the red.
Last Week’s Markets—-The sell off in corn made the July 16 board take a hit, down 54 cents on the week closing at $3.84. Sept 16 corn settled at $3.89. Jul 16 Wheat was down 26-38 cents on the week and settled at $4.55 on the Chicago board and $4.23 on the KC board. July 16 Soybeans were down 57 cents on the week at $11.03. JUN 16 live cattle were down $1.70 on the week settling at $115 and Aug 16 Lives settled at $111 Aug 16 Feeders were up around $2.00 on the week, thanks to the sell off in Corn, settling around $139.45, with the Sept 16 feeder’s settling at $138. Feeder Steers & Heifers traded $2-5 lower at major auctions, while calves were were lower on a very light test. Six weight feeder steers $148 to $150 with heifers in the low $140’s. Six weight steer & heifer calves not well tested but hanging around $1.38. All classes of Cows sold mixed on a light test with 1250# boner & lean cows averaging 77-81 cents/pound, and Bulls sold mixed averaging a $1 to 1.04/lb. Slaughter estimates last week at 608,000 head, up 5,000 from the previous week, and beef production estimates at 491.8 million pounds for the week, a weekly high for 2016.
Marty Morgan, Ag Agent Cooke County