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AgDay Daily Recap -February 12, 2013

February 12, 2013
 
 

TODAY ON AGDAY
FEBRUARY 12, 2013

COTTON ACERAGE:

COMPETITION FROM OUTSIDE MARKETS AND OTHER CROPS WILL FORCE COTTON ACRES TO BE CUT IN HALF IN SOME STATES. AND THAT'S OUR TOP STORY ON AGDAY.

USDA LONG RANGE FORECAST:

THE USDA SAYS U.S. COTTON GROWERS WILL CONTINUE TO BE THE LEADING COTTON EXPORTER OVER THE NEXT TEN YEARS, AND GRAIN GROWERS WILL SEE FIERCE COMPETITION FOR EXPORTS. THAT IS PART OF IT'S LONG TERM PROJECTIONS FOR AGRICULTURE RELEASED MONDAY.

DAIRY TODAY:

USDA'S LONG TERM PROJECTS FOR DAIRY INCLUDES MORE PRODUCTION WITH FEWER COWS. THAT TOPS OUR DAIRY TODAY REPORT.

US MEAT EXPORTS:

WHEN IT COMES TO BEEF AND EXPORTS IT LOOKS LIKE 2012 WAS A RECORD YEAR. THE U.S. MEAT EXPORT FEDERATION SAYS BEEF AND PORK EXPORTS SET VALUE RECORDS FOR THE YEAR--BEATING ITS PREVIOUS RECORD FROM THE YEAR EARLIER. BEEF EXPORTS WERE UP 2 PERCENT TO 5 AND A HALF BILLION DOLLARS. IT NOW ACCOUNTS FOR ROUGHLY 13 PERCENT OF TOTAL BEEF PRODUCTION.

RUSSIAN MEAT BAN:

U.S. MEAT WON'T BE HEADED FOR RUSSIA. THAT COUNTRY SUSPENDED ALL IMPORTS OF U.S. MEAT ON MONDAY, CITING CONCERNS OVER THE FEED ADDATIVE RACTOPAMINE. THE USDA SAYS IT'S MADE SEVERAL REQUESTS TO DISCUSS THE SAFETY OF RACTOPAMINE. ADDING RUSSIA HAS REFUSED AND SIMPLY SUSPENDED MEAT IMPORTS. USDA SECRETARY VILSACK AND U.S. TRADE REPRESENTATIVE RON KIRK SAY THE MOVE RAISES QUESTIONS ABOUT RUSSIA'S COMMITMENT TO THE GLOBAL TRADING SYSTEM.

SEQUESTRATION:

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