Farm Bureau Press - August 31, 2012

In Farm Bureau New ArFB vehicle program Arkansas Farm Bureau has introduced a new, no-hassle purchase program for members who dread the process of buying a new or used car or truck. In partnership with TrueCar. com, an automotive information and technology platform, and its Select Certified Dealership Network, ArFB is helping members to source and price their new or used vehicles using an internet-based program available at FBVerify.com/Drive.

“For the first time, Arkansas Farm Bureau is providing members with a technology-rich online Vehicle Purchase Program that allows members the ability to configure a virtual vehicle; see current market pricing on almost any make, model of a vehicle on the market, down to the options; and interact directly with program certified dealers that provide a nohassle car-buying experience,” said Gary Keathley, vice president, opera-

ArFB’s Rural Health and Safety Committee and staff toured the UAMS Center for Distance Health during their summer meeting Aug. 14. Attending were (l to r) Eddie Maples, Jason Kaufman, Amanda Williams, Bruce Jackson, Jennifer Victory, Richard Armstrong, Cindy Williams, Lepaine Sharp-McHenry and Debbie Dooley.

tions. “Even better, ArFB members can use another member benefit program, the Vehicle Incentive Program, to receive an additional $500 discount on the purchase or lease of a new Chevrolet, Buick or GMC car or truck (except Chevy Volt). By combining the benefits of the Vehicle Purchase Program with the benefit of the Vehicle Incentive Program, acquiring a vehicle can hardly be easier and more cost-effective for members.”

“Farm Bureau members are known for their strong sense of loyalty, thanks in part to top-notch member benefit programs,” said Bernie

Holly Harvill of Paragould received the $2,500 Witt Stephens Livestock Scholarship on Aug. 17 at the Arkansas Livestock Show Association board meeting in Little Rock. Rep. Bruce Maloch of Magnolia, a member of ALSA’s executive committee, made the presentation.

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Brenner, executive vice president for TrueCar. “By partnering with TrueCar, ArFB adds another thoughtful program for members to now access an innovative, hassle-free way to lease or purchase a vehicle.”

For more information on the Farm Bureau Vehicle Purchase Program and GM Vehicle Incentive Program, contact Gary Keathley (501-2281298, gary.keathley@arfb.com) or MaLeta Stephens (501-228-1470, maleta.stephens@arfb.com).

ArFB applauds Beebe Arkansas Farm Bureau praised Gov. Mike Beebe’s release earlier

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A Publication of Arkansas Farm Bureau Federation

August 31, 2012 • Vol. 15, No. 16

Farm Bill Now American Farm Bureau Federation and 38 other groups formally announced the formation of a coalition, Farm Bill Now, to urge Congress to pass a new farm bill before the 2008 bill expires on Sept.

30. The project begins with three events. The first was held at the Farm Progress Show in Iowa on Aug. 28. Iowa Farm Bureau President Craig Hill spoke in support of moving the farm bill through Congress.

The second event is a fly-in to Washington, D.C. on Sept. 12 to publicize the effort. All groups in the coalition will have members represented at the

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this month of $2 million for an emergency livestock program, saying the statewide drought has pushed livestock producers into a crisis situation.

“Any support for our livestock producers is meaningful,” said ArFB President Randy Veach. “This is a year on par with no other, with more than 50 percent of our state in exceptional drought conditions.

This will provide some immediate relief for those who have been struggling, and they need some help right now.

“For the second consecutive year, forage production in our state has been severely limited because of drought. That has put our livestock producers in a position of having to reduce the size of their herds, or pay extremely high prices for feedstuffs.”

David Alan Sites Jr. (center) of Altheimer, a 2012 graduate of Stuttgart High School, recently received a $1,000 scholarship award from Jefferson Co. FB. It was presented by Women’s Committee chair Meredith Baker and President Glynn Guenther.

Sen. Mark Pryor spoke to 150 people attending UofA-Pine Bluff’s Farm Field Day Aug. 14 in Lonoke, updating them on prospects for passage of the 2012 Farm Bill and the need to continue federal funding of the Bayou Meto and Grand Prairie irrigation district water projects.

event, and AFBF President Bob Stallman will emcee. The coalition also hopes to have a bipartisan group of legislators in attendance.

Finally, a new website has been launched, www.FarmBillNow.com, through which visitors can connect with their members of Congress.

Farmers can log on to the website to sign the petition or send a message to congressmen and senators.

Ruth Williams of Searcy.

Bailey Dillinger of Palestine (St. Francis County) was first runner-up, and second runner-up was Bailey Davis of Bono (Craighead County).

Other county winners participating in the state finals were Stephanie Palmerin Sanchez of Altheimer (Arkansas County), Brooklyn Devazier of Wynne (Cross County), Elizabeth Pack of Lonoke (Lonoke County) and Ashtyn Lowry of Brinkley (Monroe County).

The goal Williams of the Miss Arkansas Rice program is to encourage youth interest in rice promotion and to publicize the importance of the Arkansas rice industry to the state’s economy.

Contestants were judged on their promotional activities, knowledge of the rice industry and rice-cooking skills.

Meredith’s recipe was “Pineapple Rice Delight.”

The Arkansas Rice Council sponsors the annual contest in cooperation with the Arkansas Farm Bureau and the Arkansas Cooperative Extention Service.

In Arkansas

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New Miss Arkansas Rice Meredith Williams of Searcy (White County) was named 2012-13 Miss Arkansas Rice at the Brinkley Convention Center, Aug. 18. Williams, 18, is the daughter of Bill and

Scott Co. FB President Dan Wright addressed those attending the county’s policy development meeting Aug. 16, including Dr. Lyndon Tate, State Reps. Terry Rice and Jon Eubanks and County Judge James Forbes

A highlight of Cross County Farm Bureau’s annual meeting in Wynne, Aug. 21, was the presentation of a plaque to the county’s Farm Family of the Year (l to r): Vicki, Lauren and Marty Williams.

Elsewhere EPA seeks comment Gov. Mike Beebe has joined other

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On Aug. 14, Miller Co. FB presented a $2,500 check to Sam Clem, executive director of Runnin’ WJ Ranch Therapeutic Riding Center in Texarkana. The money will help the center provide therapeutic programs for special-needs students.

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state governors issuing letters and statements urging Environmental Protection Agency Administrator Lisa Jackson to waive the Renewable Fuel Standard (RFS). This could bring much-needed relief to the thousands of farmers and ranchers across the country who are experiencing the effects of the nation’s worst drought in almost 50 years.

As a result, EPA is seeking comment on letters requesting a waiver of the RFS and matters relevant to EPA’s consideration of those requests. Section 211(o)(7)(A) of the Clean Air Act allows the administrator of the EPA to waive the national volume requirements of the renewable fuel standard program in whole

Butch Calhoun shared the goals he hopes to achieve as Arkansas’ Secretary of Agriculture at ArFB’s professional staff conference in Little Rock Aug. 20.

or in part if implementation of those requirements would severely harm the economy or environment of a state, a region or the United States, or if the Administrator determines there is an inadequate domestic supply of renewable fuel.

Arkansas Farm Bureau has no policy on the waiver request, but many members feel strongly about the RFS. To assist, there now is a place on the Farm Bureau’s website, www.arfb. com, for members to offer their comments to the EPA about the waiver and/or the RFS. More information is available on the website about how to offer comments in other ways.

Comments must be submitted before Sept. 30.

EPA requests comments specifically including (but not limited to) information on: a. whether compliance with the RFS would severely harm the economy of Arkansas, North Carolina, other states, a region or the United States; b. whether the relief requested will remedy the harm; c. to what extent, if any, a waiver would change demand for ethanol and affect prices of corn, other feedstocks, feed and food; d. the amount of ethanol that is likely to be consumed in the U.S. during the relevant time period, based on its value to refiners for

octane and other characteristics and other market conditions in the absence of the RFS volume requirements; and e. if a waiver were appropriate, the amount of required renewable fuel volume appropriate to waive, the date on which any waiver should commence and end, and to which compliance years it would apply.

Rice Outlook Conference The 2012 USA Rice Outlook Conference will be held Dec. 9-11 at the historic Hotel del Coronado in Coronado, Calif. (San Diego area). Organizers say the conference’s hotel-room block is now open. The conference room rate is $139 plus a $10 resort fee per night for single or double rooms.

The conference rate begins three days prior to the meeting dates and extends three days after, based on hotel availability.

To make hotel reservations, call the hotel directly at (800) 468-3533 or go to www.hoteldel.com. Rooms at the conference rate are offered on a first-come, first-served basis for reservations made no later than Nov. 9 and/or until the room block fills.

Reservations after Nov. 9 and/or after the conference room block is filled are subject to availability. Attendees are encouraged to make reservations early.

Editor Keith Sutton

keith.sutton@arfb.com

In the Market As of August 29, 2012:  SOYBEANS. The next weather impact on the soybean market is Hurricane Isaac, which hit New Orleans this week. The storm brought substantial rain to the Midwest with potential rain as far north as Wisconsin. Hopefully, the rain didn’t cause severe damage to Mid-South crops.

It will be good for the Midwest but probably won’t add any significant yield. So, Isaac has the potential to drive the market up or down. For now, soybeans continue to set new highs then back off. November has resistance at $17.60. A close below $16.50 would be negative, while a close below $15.50 would confirm a top. The current 2013 soybean/corn price ratio is 2.04, which strongly favors corn.  CORN yields continue to flounder with the latest Midwest tour suggesting an average yield of just above 120 bushels per acre, with a crop of 10.48 million bushels. The big question is whether price has rationed this much smaller crop. Recent price activity suggests it probably has. December futures made the current high of $8.49 the day of the August report, declined sharply and then rallied to $8.40. Under pressure from declining demand, December 2012 is working toward key support between $7.80 and $7.86. The next support is the late July spike low near $7.46. December 2013 is holding in the $6.30 to $6.60 range  Wheat futures have a “topping look.” For old crop December, that is the inability to post a price above the late July high of $9.50. Subsequent trading has left a shallow downtrend.

New crop July has been in a consolidation phase for the last two months, with a potential double top forming around $8.65. Recent developments in wheat could change the picture somewhat. Some anticipate action by the Russian Food Security Council to limit exports and thus domestic pric-

es when they meet later this week.

Action of that type could give futures another boost.  RICE futures have found stiff resistance above $16.00. November futures have traded to the $16.40 level three times since late April, but haven’t found sufficient buying interest to move higher. The market has shown little interest in tropical storm Isaac, although heavy rains and wind could cause problems with the expanding harvest. The international market remains unsettled, with big Thai intervention stocks hanging over the market. Vietnam continues a brisk export market; at the same time five of the largest Asian exporters have talked about joining forces to support price. Past attempts to do this have been unsuccessful. Looking ahead, U.S. rice plantings could decline in 2013 if price levels for corn and soybeans remain high relative to rice.  December COTTON futures are trading in a huge wedge or pennant formation with support at 72.5 cents and resistance at just below 77 cents.

Over the last week, the market has bumped resistance several times but hasn’t had enough momentum to move higher toward the 50 percent retracement objective at 81.1 cents.

New demand and/or indications of crop problems appear to be needed to give the market a bump. That could come in the form of abandoned acres in Texas or perhaps damage from Isaac.  Cattle futures continue to be impacted by the drought. USDA said in this week’s crop conditions report that 59 percent of U.S. pastures are now in poor to very poor condition.

That number is much higher in some states. High corn prices have taken their toll on feeder futures over the last two months, taking $26 off the October contract since mid-June. The market appears to have stabilized for now, with support building between $138 and $139. As for live cattle futures, Labor Day needs have been filled by packers at this point, and prices could see some weakness as a result. The upside for October is be-

ing capped by resistance at $127.20, and support at the bottom of the trading channel is near $119.50$119.60.  hog futures charts look quite negative. Nearby contracts hold a large discount to cash prices, and that could provide some support for prices in the near term. October is attempting to build support at the recent low of $72.07. The market is oversold, but a bottom has not been confirmed at this point.  DAIRY. American cheese demand in June lost 3.1 percent from a year ago and was 5.2 percent below previous-month levels, USDA’s latest Livestock, Dairy and Poultry Outlook tables show. Demand for the “other” cheese category decreased 0.5 percent from 2011 levels and was 0.2 percent lower than month-earlier levels. Total cheese use was 1.6 percent lower than a year ago and down 2.3 percent versus the previous month. Year to date, American cheese use is 1.2 percent higher, while other than American is up 1.1 percent, which puts total cheese 1.1 percent higher. Nonfat dry milk use jumped 94.9 percent in June, while butter use gained 28.7 percent, compared with previous-year levels. On a month-to-month basis, commercial disappearance of butter increased 2.4 percent, while nonfat dry milk use gained 20.5 percent. So far in 2012, nonfat dry milk use is up 45.5 percent and butter use is 3.8 percent higher.

Contact • Gene Martin 501-228-1330, gene.martin@arfb.com.

• Brandy Carroll 501-228-1268, brandy.carroll@arfb.com.

• Bruce Tencleve 501-228-1856, bruce.tencleve@arfb.com.

• Matt King 501-228-1297, matt.king@arfb.com.