Sep 21, 2014
Home | Tools| Events| Blogs| Discussions Sign UpLogin

AgDay Daily Recap -Aug 7, 2014

August 7, 2014
 
 

 

TODAY ON AGDAY
AUGUST 7, 2014
 
OPEN HEADLINES:
COMING UP TODAY ON AGDAY RUSSIA IMPOSING BANS ON U.S. AGRICULTURAL IMPORTS... PLUS, BUILDING A BRIDGE TO FUTURE MARKETS WITH LEADERS FROM AFRICA. IN AGRIBUSINESS....LOOKING AT CATTLE MARKETS. HIGHER CATTLE PRICES HIGHER BEEF PRICES HAVE BEEN ABSORBED VERY WELL BY THE AMERICAN PUBLIC BY THE AMERICAN CONSUMER. PLUS MEET AN AG INNOVATOR DETERMINED TO CHANGE HOW AMERICNA FARMERS THINK ABOUT YIELDS. AGDAY BROUGHT TO YOU BY THE ALL NEW CHEVY SILVERADO THE 2014 NORTH AMERICAN TRUCK OF THE YEAR.
RUSSIA SANCTIONS:
GOOD MORNING I'M CLINTON GRIFFITHS. U-S FARMERS GET DRAWN INTO THE GLOBAL FRAY IN RUSSIA AS ITS LEADERS ANNOUNCE A BAN ON AG IMPORTS. AND THAT'S OUR TOP STORY ON AGDAY.
AFRICA SUMMIT:
MEANWHILE, STEPS WERE TAKEN IN WASHINGTON TO POSSIBLY BOOST TRADE TO AFRICA. A THREE DAY US AFRICA SUMMIT WRAPPED-UP WITH A GOAL TO BOOST AMERICAN ECONOMIC-TIES WITH AFRICA. AND A MAJOR PART OF THAT NEW "MISSION" INCLUDES AGRICULTURE.
ALLENDALE ESTIMATES:
AS WE'VE BEEN REPORTING THIS WEEK, THERE'S A FLURRY OF CROP SIZE ESTIMATES COMING OUT FROM PRIVATE ANALYTICAL FIRMS. THESE PROJECTIONS ARE IN ADVANCE OF USDA'S SUPPLY-AND-DEMAND FIGURES COMING OUT TUESDAY.
NEVADA FLOOD:
SOME HARROWING MOMENTS IN SOUTHERN NEVADA... AMATEUR PHOTOGRAPHER DOUG BENNETT CAUGHT THIS ACTION AS A FLASH FLOOD CAUGHT SOME DRIVERS OFF-GUARD.

THEIR CARS WERE BEING SWEPT AWAY AS FAST-MOVING WATER WAS PUSHING OVER THE HIGHWAY SOUTH OF LAS VEGAS. THEY'RE IN THE MIDDLE OF MONSOON SEASON WHEN SUMMER RAINS CAN QUICKLY LEAD TO FLASH FLOODS.

FORTUNATELY U-S AIR FORCE PERSONNEL WERE NEAR BY AND PULLED AN ELDERLY DRIVER FROM HER CAR.

CROP WATCH:
CLINTON…LETS CHECK IN NOW WITH MIKE HOFFMAN WHO'S CHECKING ON FARMER'S CROP CONDITIONS. GOOD MORNING MIKE.
CHRIS HURT:
IN OUR BEEF TODAY REPORT, PASTURE AND RANGE CONDITIONS ARE SOMEWHAT IMPROVED IN THE CENTRAL AND SOUTHERN PLAINS THIS YEAR. ABOUT HALF SITTING IN GOOD TO EXCELLENT CONDITION...THAT HAS CATTLEMEN BEGINNING TO REBUILD HERDS.

NATIONAL REPORTER BETSY JIBBEN IS ON THE ROAD.SHE HAS MORE FROM WEST LAFFAYATTE INDIANA. BETSY.

TEASE:
THANKS BETSY. WE'LL HAVE MORE ON CATTLE MARKETS AND WHAT PRICES MAY MEAN FOR CONSUMER DEMAND JUST AHEAD IN AGRIBUSINESS.
ZOETIS PEDV:
IN AGRIBUSINESS TODAY - ANIMAL HEALTH COMPANY ZOETIS HOPES TO OFFER SWINE PRODUCERS A VACCINE TO FIGHT THE DEADLY PIG VIRUS - PEDV. DURING A CONFERENCE CALL WITH ANALYTS, THE COMPANY SAID IT WILL ASK USDA FOR A CONDITIONAL LICENSE BY THE END OF THE YEAR. AS WE'VE BEEN REPORTING, PEDV KILLED AT LEAST EIGHT MILLION PIGLETS IN THE PAST YEAR.
ANALYSIS INTRO:
LOW HERD NUMBERS HAS LED TO HIGH CATTLE PRICES. ALTHOUGH THOSE HARD CHARGING GAINS HAVE SLOWED IN RECENT WEEKS.FARM DIRECTOR AL PELL DISCUSSES THAT AND THE IMPACT ON CONSUMER MARKETS IN TODAY'S ANALYSIS.
ANALYSIS:
TED SEIFRIED'S OUR GUEST HERE A THE AGRIBUSINESS DESK WERE GOING TO BE TALKING A LITTLE BIT ABOUT THE CATTLE MARKET AND I REALLY DON'T KNOW WHERE TO START WITH YOU BECAUSE A LOT OF OUR CATTLE HERD WAS ACTUALLY LIQUIDATED WHENEVER WE DIDN'T HAVE ENOUGH FORAGE TO FEED THEM. 2012 YEAH. 2012 NOW WERE TRYING TO GROW IT BACK BUT THE PRICES ARE SO DOG GONE HIGH THAT THE GUYS SOME OF THEM ARE SAYING I JUST ABOUT SELL OUT AND MAKE MORE MONEY. THAT'S ABSOLUTELY RIGHT SO YOU KNOW I THINK THE PRESCRIPTION FOR THE CATTLE MARKET AT THIS POINT ONE IS LOW INPUT COSTS WHICH WE HAVE I MEAN YOU LOOK AT CORN. LOW GRAIN PRICES… VERY LOW CORN PRICES AT THE MOMENT. AND HAYS NOT BAD EITHER. HAY DDG INPUT COSTS ARE VERY LOW THE PROBLEM AS YOU MENTIONED IS THAT PRICES IN CATTLE HAVE BEEN TO HIGH WELL WE COULD FIX THAT FAIRLY EASILY IF CATTLE PRICES WERE TO START TO COME DOWN A BIT AND MAKE IT MORE ATTRACTIVE TO KEEP HEIFERS TO START PLACING MORE CATTLE ON FEED BECAUSE YOU STILL HAVE VERY GOOD PROFIT MARGINS EVEN ON A LOWER MARKET SO WE MIGHT BE LOOKING AT THAT AND FROM A TECHNICAL STAND POINT YOU KNOW WE'VE SEEN A LITTLE BIT OF A PULLBACK IN CATTLE FROM HIGHS RECENTLY THAT COULD CONTINUE TO HAPPEN WE MIGHT BE SETTING UP FOR A LITTLE BIT OF A HEAD AND SHOULDERS FORMATION IT MIGHT BELIEVE IT OR NOT IT MIGHT ACTUALLY BE GOOD LONGER TERM FOR SOME LOWER CATTLE PRICES HERE FOR THE SHORT TERM LONGER TERM IT'S GOING TO TAKE A LOT OF TIME TO REBUILD THE HERD AND WE'RE GOING TO CONTINUE TO HAVE SUPPLY ISSUES WE'RE GOING TO CONTINUE TO HAVE HIGH CASH TRADE SO WE SHOULD STAY FAIRLY WELL SUPPORTED BUT I DON'T THINK IT WOULD BE A BAD THING FOR THE CATTLE MARKET TO HAVE SOME LOWER PRICES HERE FOR A TIME BEFORE WE DO START TO COME BACK UP. WELL I KNOW THERE BEEN SOME CONCERN ABOUT THE FACT THAT THE PRICES ARE GOING TO EVENTUALLY DRIVE UP OUR CONSUMER PRICES AND THAT WILL ACTUALLY MIGHT EVEN HURT THE CATTLE MARKET IN TERMS OF CONSUMERS. THAT'S RIGHT. AND THAT SORT OF THING SO WHAT YOUR SAYING IS WE CAN KIND OF EASE UP A LITTLE BIT IT MIGHT BE A GOOD DEAL FOR THE WHOLE BUSINESS. THAT'S ABSOLUTELY RIGHT THAT'S ABSOLUTELY RIGHT AND AS FAR AS CONSUMERS SEEING HIGHER PRICES YOU DON'T SEE IN LIKE THE FAST FOOD CHAINS YOU MIGHT SEE IT IN SOME OF THE HIGHER END RESTAURANT AND YOU CERTAINLY SEE IT WHEN YOU GO TO THE GROCERY STORE AND YOU GO TO YOUR BUTCHERS COUNTER BUT WHAT WE'VE SEEN SO FAR IS THAT HIGHER CATTLE PRICES HIGHER BEEF PRICES HAVE BEEN ABSORBED VERY WELL BY THE AMERICAN PUBLIC BY THE AMERICAN CONSUMER THAT MAY START TO CHANGE AS WE START GETTING INTO THE WINTER MONTHS ONCE AGAIN CAUSE YOU DON'T HAVE THIS GRILLING SEASON YOU DON'T HAVE THIS NEED TO COOK HAMBURGERS AND THINGS LIKE THAT CERTAINLY IF YOU WERE TO START SEEING PRICES ON THE DOLLAR MENU START TO CREEP UP THAT WOULD HAVE AN IMMEDIATE IMPACT I WOULD THINK ON DEMAND AT THAT POINT. OKAY THANK YOU VERY MUCH TED SEIFRIED BEEN OUR GUEST HERE AT AGDAY BACK WITH MORE IN A MOMENT...
PROFIT BRIEFING PROMO:
RUSSIA IS THREATENING SOME COUNTER SANCTIONS AGAINST THE U-S. WHAT'S IT MEAN FOR THE AG MARKETS? WE'LL TALK ABOUT IT IN THE PROFARMER PROFIT BRIEFING, FRIDAY ON AGDAY.
WX:
WELCOME BACK TO AGDAY MIKE TAKING A LOOK AT THE WEATHER MAP TODAY IT LOOKS LIKE WE HAVE KIND OF A SYSTEM HERE IN THE MIDDLE OF THE COUNTRY BUT THAT'S ABOUT IT. YEAH THAT IS ABOUT IT. NOW THERE WILL BE LIKE I SAID AFTERNOON VARIETY SHOWERS AND THUNDERSTORMS BUT THAT'S A VERY SLOW MOVING SYSTEM IN THE MIDDLE OF THE COUNTRY IN FACT EVERYTHING ON THE WEATHER MAP IS MOVING VERY SLOWLY AS YOU'LL SEE. LETS PUT THINGS INTO MOTION AS YOU'LL SEE ITS JUST CREEPING ALONG ACROSS MISSOURI INTO THE CENTRAL MISSISSIPPI VALLEY SO THERE'LL BE A GOOD WIDESPREAD AREA OF RAIN IT LOOKS LIKE ACROSS THAT PART OF THE COUNTRY. AFTERNOON THUNDERSTORMS IN MANY PARTS OF NEW MEXICO ON UP INTO OTHER PARTS OF THE EASTERN COLORADO MOUNTAINS AND BACK INTO PARTS OF IDAHO AND WYOMING AS WELL AND THEN WE'LL SEE A FEW HIT AND MISS IN SOUTHEAST BUT NOT A LOT AS THIS FRONTAL SYSTEM IN SOUTH FLORIDA IS TAKING A LOT OF MOISTURE OFF SHORE OF THE TIP OF FLORIDA THERE. CHECKING OUT TONIGHT YOU CAN SEE THE SYSTEM ACROSS THE MIDDLE OF THE COUNTRY CONTINUES TO PRODUCE SOME RAIN ACROSS PARTS OF ILLINOIS INDIANA INTO KENTUCKY AND TENNESSEE WITH SCATTERED SHOWERS AND THUNDERSTORMS BACK ACROSS THE STATIONARY FRONT INTO OKLAHOMA AND KANSAS. END OF THE DAY TOMORROW YOU CAN SEE LITTLE BIT MORE MOISTURE WITH THAT SYSTEM IN EASTERN COLORADO SO THAT MAY SPREAD INTO PARTS OF KANSAS AND OKLAHOMA. AND AGAIN THE AFTERNOON VARIETY THUNDERSTORMS IN NEW MEXICO AS WELL AS THE NORTHERN PORTIONS OF THE ROCKIES BUT THIS SYSTEM STARTS TO GET A LITTLE MORE GULF MOISTURE WITH IT SO INTO THE TENNESSEE AND OHIO VALLEYS WE'RE GOING TO SEE A LITTLE MORE WIDESPREAD AMOUNTS OF RAIN. TAKING A LOOK AT PRECIPITATION ESTIMATES OVER THE PAST 24 HOURS... YOU CAN SEE KIND OF HIT AND MISS IN PARTS OF THE COUNTRY BUT IT’S REALLY THE SYSTEM IN THE MIDDLE SHOWING MOST OF IT SO THE CENTRAL CORN BELT ALREADY SEEING SOME AREAS WITH TWO TO THREE INCHES OF RAIN. THIS IS NOT EVERYWHERE OBVIOUSLY SOME PLACES GETTING MISSED BUT OUR COMPUTER MODEL TAKES IT THROUGH THE ST. LOUIS AREA TOWARD EVANSVILLE AND INTO KENTUCKY TENNESSEE SOUTHERN INDIANA ILLINOIS WITH SOME DECENT AMOUNTS OF RAIN OVER THE NEXT 36 HOURS. TAKING A LOOK AT TEMPERATURES THE HEAT CONTINUES FOR OKLAHOMA AND TEXAS FOR A CHANGE. YOU HAVEN'T REALLY HAD A LONG PERIOD OF HEAT SO FAR THIS YEAR. BUT THE COOL WEATHER IS BACK FOR THE GREAT LAKES AND THE NORTH EAST WE'LL CALL IT COMFORTABLE. IT’S NOT REAL COOL. HIGH TEMPERATURES IN THE 70'S FOR THE MOST PART. LOWS TONIGHT GOING TO BE IN THE 50'S AND 60'S GREAT LAKES AND THE NORTHEAST... 70'S THOUGH FROM TENNESSEE SOUTHWARD AND A FEW 80'S SHOWING UP IN TEXAS FOR A CHANGE THIS SEASON AND WELL INTO THE MID AND UPPER 90S IN PARTS OF TEXAS AND INTO SOUTHERN OKLAHOMA AS WE HEAD THROUGH TOMORROW AFTERNOON. BUT THE PLEASANT WEATHER CONTINUES FARTHER NORTH. THERE'S THE JET STREAM. YOU CAN SEE THE TROUGH CAUSING THAT COOL WEATHER MOVING AWAY SO WE MAY SEE A LITTLE BIT OF A WARM UP THERE. BUT ANOTHER TROUGH DIVES ITO THE GREAT LAKES AS WE HEAD INTO EARLY PARTS OF NEXT WEEK. THAT'S NOT A REAL STRONG TROUGH THOUGH. SO WE MAY ST ART TO SEE TEMPERATURES A LITTLE CLOSER TO NORMAL ACROSS MOST OF THE CORN BELT. THAT'S A LOOK ACROSS THE COUNTRY NOW LETS TAKE A LOOK AT SOME LOCAL FORECASTS. WE'LL HEAD WEST FIRST OF ALL GALLUP NEW MEXICO PARTLY SUNNY AN AFTERNOON THUNDERSTORM IN SPOTS. HIGH TEMPERATURE UP TO 84 SPENCER IOWA VARIABLE CLOUDY WITH A SHOWER OR THUNDERSTORM AROUND HIGH OF 73, AND BECKLEY WEST VIRGINIA COMFORTABLE WITH PARTLY SUNNY SKIES HIGH OF 78…
TEASE:
STILL TO COME, PULLING SODA AND FAST FOOD OUT OF SCHOOLS MAY HAVE SOME UNINTENDED CONSEQUENCES. DETAILS IN FOOD AND YOUR FAMILY...
ITC SAUDER PROFILE:
THE AG INDUSTRY IS FULL OF SMART PEOPLE LOOKING TO PUSH THE ENVELOPE OF WHAT'S POSSIBLE OUT IN THE FIELD. HIGH YIELDS, BIO TECH TRAITS, BETTER UTILIZATION OF WATER AND RESOURCES. I RECENTLY CAUGHT UP WITH ONE SUCH INNOVATOR AS HE PREPARES TO TAKE ANOTHER RUN AT CHANGING THE INDUSTRY.
SCHOOL SODA BARN:
THE AG INDUSTRY IS FULL OF SMART PEOPLE LOOKING TO PUSH THE ENVELOPE OF WHAT'S POSSIBLE OUT IN THE FIELD. HIGH YIELDS, BIO TECH TRAITS, BETTER UTILIZATION OF WATER AND RESOURCES. I RECENTLY CAUGHT UP WITH ONE SUCH INNOVATOR AS HE PREPARES TO TAKE ANOTHER RUN AT CHANGING THE INDUSTRY.
CLOSE:
 THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR BETSY JIBBEN, MIKE HOFFMAN, AND AL PELL. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
STATION PROMO:
"WHAT'S IT MEAN FOR THE MARKETS? WE'LL TALK ABOUT IT IN THE PROFARMER PROFIT BRIEFING..." PLUS, WE'LL VISIT A GREAT AMERICAN BARN. I'M CLINTON GRIFFITHS JOIN US WEEKDAYS FOR AGDAY.
 

See Comments

RELATED TOPICS: Daily Recap

 

MARKETS

CROPSLIVESTOCKFINANCEENERGYMETALS
Market Data provided by Barchart.com
Enter Zip Code below to view live local results:
bayer
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions