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AgDay Daily Recap -February 7, 2013

February 7, 2013
 
 

TODAY ON AGDAY
FEBRUARY 7, 2013

NCBA CONVENES:

GOOD MORNING I'M AL PELL.  FROM HIGH FEED COSTS TO DECLINING HERD SIZE, THERE'S NO SHORTAGE OF ISSUES THAT CATTLEMEN WILL ADDRESS AS THE INDUSTRY GATHERS THIS WEEK. AND THAT'S OUR TOP STORY ON AGDAY. DAY TWO OF THE 'CATTLE INDUSTRY CONVENTION AND NCBA TRADE SHOW' GETS GOING LATER THIS MORNING IN TAMPA, FLORIDA. CATTLE PRODUCERS FROM ACROSS THE COUNTRY WILL GATHER TO DISCUSS ISSUES THE INDUSTRY MUST FACE, SUCH AS THE DWINDLING HERD SIZE BROUGHT ON BY PERSISTENT DROUGHT.

ETHANOL RFA:

THANKS CLINTON. MEANWHILE, THE ETHANOL INDUSTRY IS ALSO GATHERING THIS WEEK FOR ITS ANNUAL MEETING. AND ONE OF ITS MOST VOCAL SUPPORTERS SAYS THE INDUSTRY IS - QUOTING HERE - "UNDER SIEGE". DINNEEN SAYS THE R-F-A COMMISSIONED A POLL ABOUT ETHANOL USE IN THIS COUNTRY. THE PHONE SURVEY REACHED A THOUSAND ADULTS. THE R-F-A SAYS 64-PERCENT OF THOSE SURVEYED SUPPORT THE RENEWABLE FUELS STANDARD.

CROP WATCH:

LET'S GET YOUR FIRST LOOK AT FARM COUNTRY WEATHER. FOR THAT, WE TURN TO METEOROLOGIST MIKE HOFFMAN. GOOD MORNING MIKE.

AGCO EARNINGS:

IN MACHINERY MINUTE - AGCO IS REPORTING A STRONG FOURTH QUARTER. THE EQUIPMENT MAKER SAYS NET SALES HIT TWO-POINT-SEVEN BILLION DOLLARS FOR THE FOURTH QUARTER OF 2012. THAT'S UP MORE THAN SEVEN PERCENT FROM THE SAME PERIOD IN 2011. FOR THE YEAR. NET SALES ARE UP ABOUT 13-PERCENT. THE COMPANY SAYS THE MOST SIGNIFICANT INCREASES WERE IN HIGH HORSEPOWER TRACTORS, HAY EQUIPMENT AND SPRAYERS.

POST OFFICE:

THE FINANCIALLY STRUGGLING U-S POSTAL SERVICE SAYS IT WILL STOP HOME DELIVERY OF MAIL ON SATURDAYS. THE POST OFFICE SAYS BY CUTTING BACK SERVICE, IT WILL SAVE ABOUT TWO BILLION DOLLARS A YEAR.

ANALYSIS:

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