AgDay Daily Recap -February 17, 2014

February 17, 2014 01:57 AM
 

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:

IN AGRIBUSINESS, IN THE U-S, WE KNOW MAJOR WEATHER PATTERNS LIKE AN EL NINO OR LA NINA CAN SIGNIFICANTLY IMPACT CROP YIELDS.  IN TODAY'S ANALYSIS, AL PELL GETS A GLOBAL VIEW ON RICE AND HOW A SHIFT IN THE WEATHER COULD CAUSE SUPPLY ISSUES IN THE COMING YEARS.

MACHINERY PETE:

EVERY MONDAY WE GET A LITTLE PERSPECTIVE FROM USED EQUIPMENT SPECIALIST, MACHINERY PETE. WE ASKED HIM ABOUT PLANTER PRICES DURING A RECENT TRIP TO THE STUDIO.

TEXAS SPINACH:

EATING HEALTHY CAN BE DIFFICULT, ESPECIALLY IF YOU DON'T GET ENOUGH OF YOUR LEAFY GREENS.  ED WOLFF WITH TEXAS FARM BUREAU, INTRODUCES US TO ONE SOUTHWEST TEXAS FAMILY WHO HAS BEEN HELPING AMERICANS BALANCE THEIR DIETS FOR 90 YEARS.

SUGARY DRINKS:

IN FOOD AND YOUR FAMILY, PURCHASING SODA IN CALIFORNIA COULD COME WITH A WARNING SIMILAR TO WHAT CIGARETTE PACKAGES HAVE TODAY. THAT'S BECAUSE ONE STATE SENATOR IS PROPOSING A BILL TO PUT WARNING LABELS SUGAR-LOADED DRINKS.

BIG FOOD:

MEANWHILE, A GROUP OF LAWYERS SAY BIG FOOD IS TO BLAME FOR THE OBESITY IN THE COUNTRY AND THEY WANT INDIVIDUAL STATES TO SUE. POLITICO IS REPORTING THERE'S LOBBYING OF STATE ATTORNEY GENERALS IN 16 STATES TO FILE SUITS.  THE PITCH IS THAT SUING BIG FOOD COMPANIES COULD CLOSE BUDGET GAPS AND HELP COVER BILLIONS OF DOLLARS IN MEDICAID COSTS. IT'S A SIMILAR STRATEGY TO LAWSUITS IN THE 1990S TARGETING TOBACCO COMPANIES. THAT ENDED IN 246 BILLION WORTH OF SETTLEMENTS IN 46 STATES.     

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <​/span> 
 
 
 
 
 
 
 
 
 
 
&​nbsp;
 
 
 
 
 
 
 
 
 
​ 
 
 
 
 
 
 
 
 
 
<​/span>
<​/span>

CONTACT:
We'd love to hear from you! Contact us at 800-792-4329. Or drop an email to inbox@agday.com. You can also check us out on Facebook.
 

Back to news

Comments

 

Rate this News Article:

Spell Check

No comments have been posted to this News Article

Close