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AgDay Daily Recap -Aug 8, 2014

August 8, 2014
 
 

 

TODAY ON AGDAY
AUGUST 8, 2014
 
OPEN HEADLINES:
 COMING UP TODAY ON AGDAY,   LEAN HOG FUTURES, CONTINUE TO FALL TRADERS SAY PRICES COULD GO EVEN LOWER. MAKING SAFETY NET DECISIONS FOR THE NEW FARM BILL...A BRIEF OVERVIEW... IN AGRIBUSINESS...ARE THERE TEETH BEHIND THE RUSSIAN AG SANCTIONS...AND THE BITE FROM THIS TINY TICK COULD HAVE A BIG IMPACT ON A PERSON'S ABILITY TO EAT MEAT. AGDAY BROUGHT TO YOU BY THE ALL NEW CHEVY SILVERADO THE 2014 NORTH AMERICAN TRUCK OF THE YEAR.

LEAN HOG FALLS:

GOOD MORNING I'M CLINTON GRIFFITHS. NEW POTENTIAL VACCINES, WAINING CONCERNS ABOUT SUPPLY AND INCREASING WEIGHTS HAS LEAN HOG FUTURES IN A FREE FALL. AND THAT'S OUR TOP STORY ON AGDAY.
FARM BILL UPDATE:
FARMERS WILL SOON SEE A LETTER IN THEIR MAIL BOXES FROM USDA. THE FIRST OF A THREE STEP PROCESS IN ROLLING OUT THE COMMODITY TITLE OF THE NEW FARM BILL... BUT BEFORE FARMERS MAKE THEIR DECISION REGARDING A SAFETY-NET THERE ARE SOME BIG DECISIONS TO CONSIDER. NATIONAL REPORTER BETSY JIBBEN JOINS US WITH MORE.
TEXAS PACKER CLOSES:
ALRIGHT THANKS BETSY. A TEXAS BEEF PACKING PLANT IS CLOSING ITS DOORS AFTER 50 YEARS OF BUSINESS. ANOTHER VICTIM OF THE DROUGHT AND CATTLE HERD SIZE...L-AND-H PACKING COMPANY OF SAN ANTONIO IS CEASING OPERATIONS. THE SHUTDOWN WILL IMPACT 325 WORKERS. THE COMPANY HOPES TO PLACE SOME OF THE DISPLACED WORKERS AT TWO OTHER SISTER COMPANIES.
EL NINO:
U.S. WEATHER FORECASTERS DIALING BACK THEIR EXPECTATIONS OF A STRONG EL NINO. NOW PUTTING THE LIKELIHOOD OF THE WEATHER EVENT HAPPENING AT 65 PERCENT--EARLIER ESTIMATES SAID IT WAS 80 PERCENT LIKELY. IF IT DOES, IT WOULD SHOW UP BETWEEN NOW AND OCTOBER...BUT REMAIN RELATIVELY WEAK.
CROP WATCH:
OF COURSE, THAT REDUCES THE LIKELIHOOD OF ANY AUTUMN OR WINTER-TIME DROUGHT RELIEF. WE'LL KEEP OUR EYES ON IT FOR YOU. NOW LET'S CHECK ON SOME CURRENT FIELD CONDITIONS WITH MIKE HOFFMAN, MIKE.
TEASE:
PLENTY MORE AHEAD ON THIS FRIDAY EDITION OF AGDAY INCLUDING THE PROFARMER PROFIT BRIEFING. THE GUYS WILL DISCUSS HOW MUCH IMPACT RUSSIAN SANCTIONS COULD HAVE ON U-S AGRICULTURE.
PROFIT BRIEFING INTO:
 IN THIS WEEK'S PROFIT BRIEFING, OUR PARTNERS AT PROFARMER ARE ANALYZING WHETHER THE ANNOUNCED SANCTIONS BY RUSSIA AGAINST THE U-S AND OTHER WESTERN NATIONS ACTUALLY HAVE ANY TEETH. THE COUNTRY PLANS TO RESTRICT IMPORTS OF FOOD AND AGRICULTURAL PRODUCTS FROM COUNTRIES IMPOSING SANCTIONS AGAINST IT.
RUSSIA SANCTIONS:
USDA SAYS AG IMPORTS FROM THE U-S TO RUSSIA TOTALED $1.3 BILLION IN 2013. ABOUT TEN PERCENT OF THAT WAS SOYBEANS OR SOYBEAN MEAL. THE AMERICAN SOYBEAN ASSOCIATION SAYS 157-MILLION DOLLARS WORTH OF SOY WAS SHIPPED TO RUSSIA LAST YEAR. A-S-A SAYS SOYBEANS ARE THE BIGGEST CROP EXPORT FROM THE U.S. TO RUSSIA, DUE IN LARGE PART TO THAT COUNTRY'S BURGEONING ECONOMY AND GROWING DEMAND FOR MEAT. U-S PORK, CHICKEN AND NUTS COULD ALSO FEEL THE IMPACT. THE EUROPE'S AG SECTOR COULD FEEL IT EVEN MORE. E-U AG SHIPMENTS TO RUSSIA WERE NEARLY 16-BILLION DOLLARS LAST YEAR.
TRUCKS STOPPED:
BLOCKED SHIPMENTS FROM EUROPE ARE ALREADY UNDERWAY. DOZENS OF TRUCKS WITH GOODS FROM THE EUROPEAN UNION ARE BEING TURNED AWAY AT THE FINLAND-RUSSIA BORDER AS THE KREMLIN ENFORCES ITS SANCTIONS AGAINST THE E-U AND WESTERN NATIONS. THE BAN COVERS ALL IMPORTS OF MEAT, FISH, FRUIT, VEGETABLES, MILK AND MILK PRODUCTS FROM THE U-S, THE EUROPEAN UNION, AUSTRALIA, CANADA AND NORWAY.
PROFIT BRIEFING:
PROFARMER'S CHIP FLORY AND BRIAN GRETE JOIN US NOW TO DISCUSS WHAT IMPACT THE RUSSIAN SANCTIONS COULD HAVE ON U-S AG. AND RIGHT NOW THEY DON'T SEEM TOO CONCERNED.
WX:
WELCOME BACK TO AGDAY MIKE KIND OF A TYPICAL AUGUST HERE ON THE WEATHER MAP. JUST SOME SPOTTY SHOWERS IN PLACES... YEAH THAT'S RIGHT NOT A LOT GOING ON. THIS AREA OF LOW PRESSURE HAS PRODUCED SOME DECENT RAIN NEAR B Y AND THAT'S GOING TO SLOWLY MOVE OFF TO THE EAST SOUTHEAST ACROSS SOUTHERN INDIANA, KENTUCKY AND TENNESSEE SO THERE IS ALWAYS THE POSSIBILITY OF SOME AREAS GETTING A WHOLE BUNCH OF RAIN OUT OF THIS BECAUSE OF THE SLOW MOVEMENT. BUT OTHER THAN THAT YOU'RE RIGHT IT’S THE DOLDRUMS OF AUGUST BECAUSE WE'RE SEEING VERY LITTLE MOVEMENT AND LOTS OF HEAT AND HUMIDITY DOWN TO THE SOUTH. BUT COOLER TEMPERATURES CONTINUE WITH THAT HIGH PRESSURE SYSTEM SITTING OVER THE GREAT LAKES WHICH ISN'T GOING TO MOVE MUCH EITHER. SO THERE'S NOT A WHOLE LOT OF MOVEMENT ON THE MAP. JUST THE TWO AREAS OF LOW PRESSURE IN THE PLANES STATES WILL SLOWLY PUSH OFF TO THE EAST. AS YOU CAN SEE THERE WILL BE SHOWER S AND THUNDERSTORMS IN THE TENNESSEE VALLEY PARTS OF THE OHO VALLEY AS WE MOVE THROUGH THIS AFTERNOON. ALONG THE STATIONARY FRONT BACK ACROSS OKLAHOMA NORTHERN TEXAS AND BACK INTO NEW MEXICO AS WELL, AND THERE WILL BE A FEW SPOTS OF ACROSS THE NORTHERN PLAINS ALSO KIND OF TO THE WEST OF THAT HIGH WHERE THE HUMIDITY IS TRYING TO COME BACK UPWARD. AND YOU CAN SEE AS WE HEAD THROUGH THE NIGHT TIME.HOURS TONIGHT JUST MORE OF THE SAME. YOU CAN SEE THAT MOVEMENT JUST SLOWLY OFF TO THE SOUTHEAST AND THEN THIS STORM SYSTEM OVER THE TENNESSEE VALLEY WILL PROBABLY HAVE SOME WIDESPREAD SHOWERS AND THUNDERSTORMS AT LEAST NEARBY WITH SPOTTY AMOUNTS FARTHER NORTH AND SOUTH. AND WE CONTINUE TO SEE KIND OF AN UPPER AIR DISTURBANCE THERE OVER SOUTH DAKOTA GIVING SOME DECENT AMOUNTS OF MOISTURE THROUGH THE AFTERNOON AS WELL. LETS CHECK THE PRECIPITATION ESTIMATES OVER THE PAST 24 HOURS WE'VE SEEN SOME DECENT AMOUNTS IN FACT SOME SPOTS IN MISSOURI HAVE SEEN A LOT MORE THAN THIS IS EVEN SHOWING WHICH IS 3 INCHES OR MORE. BUT YOU CAN SEE THAT'S REALLY JUST A REALLY SMALL POCKET THERE. WE'LL ADD ON THE NEXT 36 HOURS. THAT SYSTEM CONTINUES TO EXPAND EASTWARD MAINLY SO YOU'RE TALKING ABOUT KENTUCKY AND TENNESSEE KIND OF UNDER THE GUN FOR THE HEAVIEST AMOUNTS OF RAIN. EXCUSE ME. INTO THE MOUNTAINS OF THE CAROLINAS PERHAPS AS WE HEAD INTO SATURDAY AS WELL THERE'S THE HIGH TEMPERATURES. THERE'S GOING TO BE A LOT OF HEAT FOR A CHANGE OVER TEXAS AND SOUTHERN OKLAHOMA WHICH WE HAVEN'T SEEN A LOT OF THIS SUMMER BUT STILL COOLER THAN NORMAL TEMPERATURES THOUGH UP ACROSS THE NORTHERN TIER OF STATES INTO THE NORTHEAST. LOWS TONIGHT 50'S AND 60'S GREAT LAKES IN THE NORTHEAST ONCE AGAIN... BUT STILL MUGGY FOR THE SOUTHERN HALF OF THE PLAINS INTO THE SOUTHEAST AND THE HEAT WILL CONTINUE INTO NORTHERN TEXAS SOUTHERN OKLAHOMA AS AT LEAST THAT WILL BE THE HOTTEST SPOT IN THE COUNTRY AS WE HEAD THROUGH THE AFTERNOON TOMORROW. TROUGH IS MOVING AWAY SO THAT'S WHY WE HAVE VERY LITTLE FLOW ACROSS THE COUNTRY AND THINGS JUST AREN'T MOVING TOO MUCH. AS WE HEAD INTO EARLY NEXT WEEK THROUGH WE WILL SEE THAT TROUGH IN THE JET STREAM KIND OF DIG INTO THE GREAT LAKES AGAIN AS WE MOVE INTO THE EAST AND MORE ENERGY PROBABLY DIVING IN AS WE HEAD THROUGH THE FOLLOWING WEEKEND. SO WE'LL JUST KIND OF WATCH THAT SO THAT WILL REALLY SHOW THE HEAT GOING ALL THE WAY UP INTO THE PACIFIC NORTHWEST. THAT'S A LOOK ACROSS THE COUNTRY NOW LETS TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR BAKERSFIELD CALIFORNIA LOTS OF SUNSHINE AND HOT HIGH TEMPERATURE OF 99... ORTINVILLE MINNESOTA PARTLY SUNNY A THUNDERSTORM POSSIBLE IN SPOTS HIGH OF 79 AND MACON GEORGIA HOT AND HUMID AN AFTERNOON THUNDERSTORM POSSIBLE HIGH OF 93.
ITC TICKS & MEATS:
WHILE HIGHER PRICES AT THE MEAT COUNTER MAY PREVENT SOME PEOPLE FROM BUYING A STEAK, IT APPEARS OVERALL BEEF DEMAND HAS NOT WANED. BUT NOW IT APPEARS A BITE FROM A TINY INSECT COULD - PARDON THE PUN - 'DRIVE A STAKE' THRU YOUR STEAK CRAVING. JOSEPH FREDERICK HAS OUR STORY.
ITC TAG:
DON'T BE FOOLED BY THE NAME, THE "LONE STAR TICK" IS FOUND OUTSIDE OF TEXAS. THEY'VE BEEN FOUND THROUGH-OUT THE SOUTH AND EASTERN UNITED STATES. THERE'S EVEN BEEN CASE AS FAR NORTH AS MAINE. UP NEXT WE HEAD DOWN THE HERITAGE CORRIDOR FOR A VISIT TO A GREAT AMERICAN BARN.

GRAB TAG:

THE CUH-NODE FAMILY BARN WAS ONE OF TEN SHOWCASED DURING THE WHITESIDE COUNTY FARM BUREAU BARN TOUR. IF YOUR FARM BUREAU ORGANIZATION IS HOSTING A BARN TOUR, LET US KNOW! WE'D LIKE TO HIGHLIGHT SOME OF THOSE HISTORIC BARNS. YOU CAN CONTACT US VIA THE GOOD OLE'FASHIONED POSTAL SERVICE, EMAIL OR POST A MESSAGE ON MY FACEBOOK PAGE.
CLOSE:
CLINTON… THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND AL PELL. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
RFD PROMO:
FRIDAY ON AGDAY LEAN HOG FUTURES ARE IN FREE FALL. PLUS SORTING OUT DECISIONS ON THE FARM BILL SAFETY NET...AND A TICK THAT MAKES YOU ALLERGIC TO MEAT... JOIN US EIGHT EASTERN.

 

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