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AgDay Daily Recap -November 19, 2012

November 19, 2012
 
 

TODAY ON AGDAY
NOVEMBER 19, 2012

RFS WAIVER DENIAL:

Good morning I’m Clinton Griffiths. The ethanol industry is chalking-up a victory as the federal government rules that corn-based ethanol is not causing economic harm. This is the second time EPA has denied the waiver request. In 2008, a request from the state of Texas was turned down. American Farm Bureau Federation says given current prices, the organization doesn't support a waiver. NCGA President Pam Johnson says 'we believe Administrator Jackson appropriately recognized petitioners did not properly prove severe nationwide economic harm had occurred thereby creating no justification for a waiver of the RFS." The National Cattlemen's Beef Association - along with many other livestock groups - is not happy with the ruling. NCBA President JD Alexander says quoting here - "In light of the most widespread drought to face the country in more than 50 years, the refusal to grant this waiver is a blatant example of the flawed policy of the RFS."

CATTLE ON FEED:

The USDA released its latest cattle on feed numbers late Friday. And it seems drought, high feed costs and a shrinking herd are combining to pusher fewer cattle into the nations feedlots.

DROUGHT IMPACT:

This year's drought remains fresh in many cattle producers' minds, but it seems the drought of 2011 left a bigger scar.

CROP WATCH:

We heard from a couple states where harvest is dry, but at least it's not challenging. Mike Hoffman has details in cropwatch.

RUSSIA TRADE:

In agribusiness today - in one of its first votes of this lame duck session, congress voted to approve permanent normal trade relations with Russia.

SOYBEAN TESTS:

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