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AgDay Daily Recap -February 17, 2014

February 17, 2014
 
 

TODAY ON AGDAY

FEBRUARY 14, 2014

 

LAND VALUES:

GOOD MORNING I'M CLINTON GRIFFITHS. IT APPEARS AGGRESSIVE GAINS IN FARMLAND VALUES MAY BE NEAR THE TOP. DURING HER APPEARANCE BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE LAST TUESDAY, NEWLY-MINTED FED CHAIR JANET YELLEN INDICATED THAT THE FED IS MONITORING THE POTENTIAL BUBBLE CONDITIONS IN THE FARM SECTOR. YELLEN TOLD LAWMAKERS THAT THE CENTRAL BANK CONTINUES TO ASSESS WHETHER OR NOT BROAD CLASSES OF ASSET PRICES - INCLUDING FARMLAND - "SUGGEST BUBBLE-TYPE ACTIVITY." FARM JOURNAL ECONOMIST BOB UTTERBACK SAYS IF WE CONTINUE TO SEE WEATHER VARIABILITY OVER THE NEXT 5 TO TEN YEARS, AND IF TO GOVERNMENT CONTINUES TO FACE A LARGE DEFICIT, HE SAYS WE'RE FACING AN ECONOMIC STORMCLOUD. UTTERBACK THINKS THAT UNCERTAINTY COULD NEGATIVELY IMPACT LAND VALUES ACROSS THE COUNTRY.

CALIFORNIA DROUGHT:

DISASTER RELIEF FOR LIVESTOCK PRODUCERS IS GETTING PUSHED-UP ON THE PRIORITY LIST. THE AG DEPARTMENT SAYS PRESIDENT OBAMA HAS DIRECTED USDA TO QUICKLY IMPLEMENT THE LIVESTOCK DISASTER PROGRAMS THAT ARE IN THE JUST-SIGNED FARM BILL. DURING A TRIP TO DROUGHT PLAGUED CALIFORNIA, THE PRESIDENT SAYS HE WANTS THOSE PROGRAMS IN PLACE WITHIN 60 DAYS. USUALLY IT TAKES AT LEAST SIX MONTHS.

CROP WATCH:

I'M MIKE HOFFMAN...IN CROPWATCH ON THE HIGH PLAINS THERE'S CONCERN ABOUT ERODING WINTER WHEAT CONDITIONS. THE AG DEPARTMENT SAYS WITH TEMPS IN MONTANA FRIDAY REACHING THE 50'S, IT'S MELTING AWAY THAT IMPORTANT SNOW COVER.
AS OF A WEEK AGO, THE STATE "NASS" OFFICE SAID ABOUT THREE QUARTERS OF THE WINTER WHEAT CROP HAD FAIR PROTECTION. CONDITION-WISE ABOUT HALF IS FAIR.
FARMING IN THE ZONE:

TODAY WE BEGIN AN EXCLUSIVE THREE PART SERIES CALLED FARMING IN THE ZONE. AS WEATHER AND PRICE VOLATILITY RAGE IN FARM COUNTRY THE IMPORTANCE OF MAXIMIZE EVERY ACRE CONTINUES TO GROW. FOR FARMERS THAT MEANS GOING FROM FARMING BY THE ACRE, TO FARMING BY THE INCH. NATIONAL REPORTER TYNE MORGAN HAS MORE.

ANALYSIS:

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