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USFR Weekly Recap - December 1-2, 2012

December 1, 2012

                                                                                                                                                                                             

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2051

DECEMBER 1-2, 2012  

 

JOHN’S OPEN:

Hello and welcome to U.S. Farm Report, I’m John Phipps. I'll have more to say about trade agreements later, but news this week that a free trade agreement with the EU is receiving renewed interest is noteworthy. Unlike other trade agreements the issues will not be so much tariffs, but regulations - from safety rules to drug approvals to Phytosanitary standards. This last category could finally bring agreement on AG issues like hormones and GMO's by being part of a bigger package. It will be worth the wait and effort.

HEADLINES:

After the summer drought decimated crops and forced livestock feed costs higher, the AG Department says net farm incomes saw a decline. According to the latest crop progress report, a little over a quarter of the country's winter wheat crop is poor to very poor. The story is worse in Texas as 40% of the state's crop is considered poor to very poor and 39% fair. According to the latest crop progress report, a little over a quarter of the country's winter wheat crop is poor to very poor. I spoke to a Texas farmer who says with little moisture, his wheat planted the first of September is struggling. Meanwhile, cotton acres could plummet next year. Many farmers in the area see grain prices as a more attractive option. Department of AG data shows of the 3.3 million U.S. Farm operators, about a third are women. Those women are looking for ways to improve the bottom line of the farming operation.

CROP WATCH:

Crop watch this week.

ROUNDTABLE:

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