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AgDay Daily Recap -January 28, 2013

January 28, 2013
 
 

TODAY ON AGDAY
JANUARY 28, 2013

ETHANOL RULING:

GOOD MORNING I'M CLINTON GRIFFITHS. THE NEXT GENERATION BIOFUELS INDUSTRY TOOK A HIT ON FRIDAY FOLLOWING A RULING IN FEDERAL COURT.

CATTLE ON FEED:

THE USDA RELEASED ITS MONTHLY CATTLE ON FEED REPORT. AS OF JANUARY FIRST, INVENTORIES WERE DOWN SIX PERCENT COMPARED TO YEAR AGO.

CATTLE DEMAND:

LIVE CATTLE FUTURES CLOSED HIGHER ON FRIDAY AS TRADERS ANTICIPATE NEXT WEEK'S BI-ANNUAL CATTLE INVENTORY REPORT. MANY EXPECT IT TO SHOW THE NATIONS COW HERD IS STILL BEING LIQUIDATED. IT'S ALSO EXPECTED TO BE THE SMALLEST CALF CROP IN SOME 50 YEARS. LONG TERM, SUPPLY TIGHTNESS SHOULD ADD OPTIMISM FOR PRICES IN THE FUTURE.

DAIRY PRODUCTION:

MILK PRODUCTION IN THE TOP 23 STATES SAW A ONE-POINT-SEVEN PERCENT INCREASE IN DECEMBER COMPARED TO THE YEAR BEFORE. PER COW PRODUCTION WAS UP 30 POUNDS. AND THE HERD SIZE GREW CONSIDERABLY FROM NOVEMBER. STATE BY STATE, THE NUMBER ONE MILK PRODUCER - CALIFORNIA - SAW A DECLINE IN PRODUCTION LAST MONTH. THE NUMBER TWO PRODUCER - WISCONSIN - WAS UP FIVE PERCENT. AND HERE'S AN INTERESTING NOTE...KANSAS SAW A TEN PERCENT JUMP IN MILK PRODUCTION FROM A YEAR AGO. THE BIG WHEAT STATE HAS SEEN A DRAMATIC INCREASE IN ITS DAIRY INDUSTRY.

SAXBY CHAMBLISS:

A SURPRISE OUT OF WASHINGTON FRIDAY. GEORGIA SENATOR SAXBY CHAMBLISS ANNOUNCED HE WILL NOT BE SEEKING A THIRD TERM NEXT YEAR. THE FORMER SENATE AG COMMITTEE CHAIRMAN CITES FRUSTRATION WITH WASHINGTON GRIDLOCK AND A DIVIDED GOVERNMENT AS HIS REASON FOR STEPPING ASIDE.

CROP WATCH:

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