The 2011 Drought November 29, 2011

Oklahoma Secretary of AgricultureJim Reese

Southern Plains Drought Assessment and Outlook Forum

Comodity Lost Production Unit Dollar Value lost Avg. Mkt. Yr. Today's price Dollar value lost2Hay 2,832,720 Tons 294,602,880 $104.00 $120.00 339,926,400Cotton 313,340 Bales 136,114,902 $0.91 $1.04 155,589,888Wheat 23,943,785 Bushels 122,113,302 $5.10 $8.51 203,761,610Corn 19,673,470 Bushels 94,432,654 $4.80 $6.90 135,746,943Soybeans 4,961,972 Bushels 55,077,890 $11.10 $13.82 68,574,453Sorghum 6,717,829 Bushels 36,303,146 $5.40 $7.15 48,032,477Peanuts 7,110,643 Pounds 1,784,771 $0.25 $0.29 1,784,771

$ 740,429,545.00 $ 953,416,542.00

Not included: Canola, Oats, Rye, Sunflowers, Watermelons, Garden Commodities, Greenhouse, Nursery, Grapes, other minor commodities. Cattle losses:Cattle sold Jan. 1- July 31 increased 45,757 head or 5%

2 million head of beef cows – 5% increased sales – 100,000 beef cows – $1 billion dollars loss of income

Increased Cost of Hay, Grass, and Feedgrains - ?????

Commodity

Lost Production Unit Dollar Value lost

Avg. Mkt. Yr.

Today's price Dollar value lost

insurable price

Hay 2,832,720 Tons $ 294,602,880 $104.00 $120.00 339,926,400Cotton 313,340 Bales $ 136,114,902 $0.91 $1.04 155,589,888 1.23Wheat 23,943,785 Bushels $ 122,113,302 $5.10 $8.51 203,761,610 7.14-8.18Corn 19,673,470 Bushels $ 94,432,654 $4.80 $6.90 135,746,943 6.01Soybeans 4,961,972 Bushels $ 55,077,890 $11.10 $13.82 68,574,453 13.23Sorghum 6,717,829 Bushels $ 36,303,146 $5.40 $7.15 48,032,477Peanuts 7,110,643 Pounds $ 1,784,771 $0.25 $0.25 1,784,771

$ 740,429,545.00 $ 953,416,542.00

Insurance Products will help to alleviate some of the loss for those who chose to purchase insurance.

The unique observation here is that major drought has historically been followed by rebound.

Soybeans cut on Friday 11-18-2011

Called Coop Wednesday 11-16-2011

Coop sprayed volunteer on Saturday 11-19-2011 at 1:00PM

It Rained 1/2 inch Monday Night

4 Hour Drill Cleaning on November 26, 2011

Off Thursday, Friday, Saturday to finish 12 acres

Planting finished 11-25-2011

Before rain…. Hallelujah!!!

Thank you for accurate short term forecasting!!!!

Thank you….. for inaccurate long term forecasting!!

Thank You!