TODAY ON AGDAY
OCTOBER 19, 2012
Good morning I’m Clinton Griffiths. Payouts for crop insurance could hit a record level this year.
There’s improvement this week in the U.S. drought monitor. The nation's overall drought picture is down a bit. The national drought mitigation center says there was an improvement in every drought category.
CALIFORNIA DAIRY FEED COSTS:
In the nation's top dairy state, producers hit the picket lines yesterday. California dairymen are upset over milk prices. Unlike other states, California is not under the federal milk order. They have their own pricing system, so their payments are lower. Combine that with drought-driven higher feed costs - and it's been a tough year. AgDay’s Michelle Rook has our story.
Cindi Clawson is filling in for Mike Hoffman this morning. She has today's crop watch.
This afternoon, USDA releases its monthly cattle on feed report. In advance of that report, live cattle futures have recently rallied higher. Profarmer Editor Chip Flory and Senior Market Analyst brain Grete join us from the Profarmer studios to look at the potential for cashing-in. The Profarmer newsletter comes out later today. Chip,Brian and the team will have the first look at 2013-14 supply & demand tables. Widespread rains boost soil moisture, but long-term outlook shows limited hope for drought relief and Chinese economic data hints that the worst is in the past.
FOOD FOR ALL: