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AgDay Daily Recap -February 25, 2013

February 25, 2013
 
 

TODAY ON AGDAY
FEBRUARY 25, 2013

AG DAPARTMENT OUTLOOK:

GOOD MORNING I'M TYNE MORGAN IN FOR CLINTON GRIFFITHS. MAN-MADE RISKS ARE THREATENING PRODUCTION AGRICULTURE. AT LEAST THAT'S THE MESSAGE COMING FROM THE AG DEPARTMENT..AND THAT'S OUR TOP STORY ON AGDAY.

SEQUESTRATION:

MEANWHILE, THE NATIONAL ASSOCIATION OF WHEAT GROWERS, ALONG WITH 3 OTHER AG GROUPS, ARE VOICING CONCERNS OVER SEQUESTRATION'S IMPACT ON THE FARM BILL.
THE SENATE'S PROPOSED PLAN WOULD TAKE MORE THAN 27 BILLION DOLLARS FROM TITLE 1 OF THE FARM BILL. NAWG SAYS IF CONGRESS CUTS FEDERAL AG PROGRAMS IN ORDER TO HELP WITH DEFICIT REDUCTION, THEN THE SAME PERCANTAGE SHOULD BE TAKEN FROM ALL FEDERAL GOVERNMENT PROGRAMS.

LAND VALUES:

AS WE FIRST REPORTED LAST WEEK, USDA RELEASED ITS LONG-TERM OUTLOOK, WHICH POINTS TO ANOTHER YEAR OF RECORD FARM INCOMES IN 2013. GOOD CAPITAL COULD TRANSLATE INTO STRONG DEMAND FOR LAND. LANDOWNER NEWSLETTER EDITOR MIKE WALKSTEN SAYS THIS MEANS A CONTINUE RISE IN GOOD FARMLAND PRICES.

CROP WATCH:

WHILE MUCH OF THE AREA IN RED ON THE LATEST DROUGHT MAP RECEIVED A WINTER STORM LAST WEEK, THERE'S STILL NOT ENOUGH MOISTURE THERE GOING INTO THIS SPRING. MIKE HOFFMAN HAS THE DETAILS IN THIS MORNING'S CROPWATCH.
CATTLE ON FEED:

THE MONTHLY CATTLE ON FEED REPORT FROM USDA SHOWS A 3 PERCENT DECLINE IN COMMERCIAL BEEF PRODUCTION THIS YEAR. THIS COMES AS THE COUNTRY'S CATTLE HERD CONTINUES ON IT'S DOWNWARD SLOPE AND STEER PRICES CLIMB TO RECORD HIGHS. IN THE REPORT, USDA SAYS THE NUMBER OF CATTLE AND CALVES FELL BY ABOUT 2 PERCENT LAST YEAR. A SMALLER CALF CROP MEANS TIGHTER CATTLE SUPPLIES GOING INTO 2014. THE FUTURE OUTLOOK IS ALSO GRIM. THE CATTLE ON FEED REPORT SHOWS AN UPTICK IN BEEF PRODUCTION NOT RETURNING ANYTIME BEFORE 2016.

GRAZING STOCKERS:

BEEF CATTLE IS TENNESSEE'S TOP COMMODITY, EQUATING TO A HALF BILLION DOLLAR BUSINESS EACH YEAR. CHUCK DENNY FROM THE UNIVERSITY OF TENNESSEE TAKES US TO THE LARGEST CATTLE PRODUCER IN THE VOLUNTEER STATE TO SEE HOW STOCKER OPERATIONS ARE A GROWING BUSINESS.

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