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USFR Weekly Recap - August 30-31, 2014, 2014

August 30, 2014

 

TODAY ON USFR
AUGUST 30, 2014
 
HEADLINES:
U.S. FARM REPORT - BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO... 2014 NORTH AMERICAN TRUCK OF THE YEAR.TODAY ON U-S FARM REPORT...THE USDA RELEASES NEW ESTIMATES SHOWING AG'S WINNERS AND LOSERS IN 2014 CUTBACKS INCREASE AT A MAJOR FARM EQUIPMENT MANUFACTURER THE SIGNUP FOR A READICALLY NEW DAIRY PROGRAM BEGINS.
JOHN OPEN:
HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS WE'VE BEEN FOLLOWING THE BRUTAL DROUGHT IN CALIFORNIA. ITS IMPACT ON THE HUGE AND LUCRATIVE AGRICULTURE INDUSTRY THERE IS ENORMOUS. RECENT ESTIMATES PUT ITS TOTAL IMPACT ON THE STATE'S ECONOMY AT A WHOPPING 2.2 BILLION DOLLARS. BUT LAST WEEK, IN A MATTER OF MINUTES CALIFORNIA AGRICULTURE TOOK AN EVEN BIGGER HIT. THE NAPA VALLEY QUAKE HAS BEEN ESTIMATED AS A 4 BILLION DOLLAR LOSS WHEN ALL THE IMPACTS ARE ADDED UP. THESE ARE BOTH HUGE NUMBERS, BUT FOR CONTEXT CONSIDER THIS: CALIFORNIA'S ECONOMY IS 2.05 TRILLION DOLLARS OF WHICH THE ENTIRE AG SECTOR IS ABOUT 2 PERCENT. THE IMPACT OF DROUGHT ON SILICON, NOT CENTRAL, VALLEY MAY BE THE BIGGER STORY. TIME NOW FOR THE HEADLINES.....HERE'S TRICIA SLOMA IN FOR TYNE MORGAN.
FARM INCOME:
GOVERNMENT ECONOMISTS ARE FORECASTING SOMETHING THAT FARMERS ALREADY KNOW - EXPECT A SIZEABLE DROP IN FARM INCOME AS GRAIN PRICES SLIDE.
MAIN STREET INDEX:
LOWER CORN AND SOYBEAN PRICES ARE ALSO BEING FELT IN THE OVERALL RURAL ECONOMY. CREIGHTON UNIVERSITY RELEASED ITS LATEST RURAL MAINSTREET INDEX.THE R-M-I IS AT THE IT’S LOWEST LEVEL IN TWO YEARS. THAT'S THE THIRD STRAIGHT MONTH OF A DECLINE. ECONOMIST ERNIE GOSS SAYS WEAKER GRAIN PRICES ARE TAKING THE AIR OUT OF FARMLAND PRICES AND FARM EQUIPMENT SALES. THE RESULTS ARE BASED ON SURVEYS WITH BANKERS IN TEN STATES - STRETCHING FROM ILLINOIS TO WYOMING.
CROP CONDITIONS:
THOSE LOWER GRAIN PRICES ARE DUE IN PART TO THE HIGH CONDITION RATINGS. 73-PERCENT OF CORN IS CALLED GOOD-TO-EXCELLENT. THAT'S UP ONE POINT FROM THE PREVIOUS WEEK. SOYBEAN CONDITIONS, HOWEVER, DROPPED BY A POINT. STILL 70-PERCENT IS CALLED GOOD TO EXCELLENT.
PITCH TO MIKE:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH CROP WATCH.
CROP WATCH:
CROP WATCH THIS WEEK TAKES US TO THE SOUTHEAST. IN ALABAMA, FIELDS ARE STARTING TO GET DRY. MORE THAN HALF OF THE STATE'S TOPSOIL IS RATED DRY TO VERY DRY. AS FAR AS CROP CONDITIONS, PEANUTS ARE 44-PERCENT FAIR, ANOTHER 44-PERCENT IS GOOD TO EXCELLENT. COTTON IS 56-PERCENT GOOD TO EXCELLENT. IN FAYETTE COUNTY, TENNESSEE, ONE FARMER SAYS CROPS HAVE NEVER LOOKED THIS GOOD IN WEST TENNESSEE. HE SAYS THEIR CORN YIELDS COULD RIVAL AN IOWA CROP. HARVEST BEGINS IN ABOUT A WEEK AND HE'S PRETTY ANXIOUS TO GET IN THE CAB. HE CALLS IT A ONCE IN A DECADE CROP. AND TAKE A LOOK AT THE DROUGHT MONITOR, YOU CAN STILL THE POCKETS OF DRY CONDITIONS THROUGH THE SOUTHERN PLAINS, BUT ALMOST ALL OF CALIFORNIA, WESTERN NEVADA, IN THE EXTREME TO EXCEPTIONAL DROUGHT CATEGORY, THERE'S BEEN SLIGHT IMPROVEMENT IN THE SOUTHEAST CORNER OF CALIFORNIA.
HEADLINES:
U.S. FARM REPORT - BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO... 2014 NORTH AMERICAN TRUCK OF THE YEAR... TODAY ON U-S FARM REPORT...THE TYSON-HILLSHIRE PURCHASE GETS GOVERNMENT APPROVAL AFTER SOME TWEAKS THE U-S APPLE CROP LOOKS TO MATCH THE RECORD GRAIN HARVEST AND LONG AFTER HIS DEATH, MARK TWAIN'S LEGACY STILL DRAWS CROWDS TO MISSOURI.
SHORN SHEEP:
AND TAKE A LOOK AT THIS SHEEP IN AUSTRALIA. SHAUN THE SHEEP WAS RECENTLY DISCOVERED HIDING ON A FARM ON THE ISLAND OF TASMANIA. IT APPEARS SHAUN HAD NEVER BEEN SHORN!. WHEN THEY DID TAKE THE SHEARS TO SHAUN, HE LOST 52 POUNDS OF WOOL. THE OWNERS HOPED IT WOULD BE A RECORD, BUT IT CAME-UP SHORT BY EIGHT POUNDS.

PITCH TO WEATHER:

JOHN, I SHOWED SWINE IN 4-H WHEN I WAS GROWING UP IN OHIO. BUT I NEVER SAW ANYTHING LIKE THAT WHEN I WALKED THROUGH THE SHEEP BARNS!
HEARTLAND:
SUMMER VACATION TIME IS COMING TO AN END, IMPACTING MANY SMALL BUSINESSES THAT DEPEND ON TOURISM DOLLARS FOR SURVIVAL.

IN THIS REPORT PROVIDED BY THE UNIVERSITY OF MISSOURI, KENT FADDIS TAKES US TO AN ALL AMERICAN TOWN - WHICH SERVED AS INSPIRATION TO MARK TWAIN - TO SEE THE ECONOMIC BENEFITS OF TOURISM.

BAXTER TEASE:
WE'LL TELL YOU WHERE THEY'RE LEARNING. STILL TO COME HAVE YOU EVER ADOPTED SOMETHING - LIKE A STRETCH OF ROAD? BAXTER BLACK MAKES A CASE FOR ADOPTING FARMERS. . . WHEN WE COME BACK…
TRACTOR TALES DEVAC MOBIL:
TRACTOR TALES BROUGHT TO YOU BY MOBIL DELVAC. SWITCH TO MOBIL DELVAC. LONG LIVE YOU’RE ENGINE AND YOUR BUSINESS. AVAILABLE AT SAM'S CLUB.
 
 

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