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AgDay Daily Recap -June 12, 2013

June 12, 2013
 
 

TODAY ON AGDAY

JUNE 12, 2013

 

GMO WHEAT:

GOOD MORNING I'M CLINTON GRIFFITHS. JUST HOW GMO WHEAT ENDED UP IN AN OREGON FARM FIELD REMAINS UNANSWERED. THAT HAS U.S. TRADING PARTNERS BEING CAUTIOUS.

FARM BILL:

AS EXPECTED THE SENATE PASSED ITS VERSION OF A NEW FIVE YEAR FARM BILL MONDAY NIGHT. THE HOUSE OF REPRESENTATIVES IS EXPECTED TO TAKE UP THE MEASURE NEXT WEEK. EVEN THOUGH THE BILL PASSED NOT ALL FARM-STATE LAWMAKERS WERE PLEASED.
KANSAS SENATOR PAT ROBERTS VOTED AGAINST THE BILL--CALLING IT A STEP BACKWARD.

OTHER NOTABLE NAY VOTES INCLUDE KENTUCKY'S MITCH MCCONELL--STATE PARTNER, RAND PAUL DIDN'T VOTE AT ALL. FLORIDA'S MARCO RUBIO VOTED AGAINST, AS DID PORTMAN OF OHIO, AND THUNE OF SOUTH DAKOTA.

HOG PRICES:

LEAN HOG FUTURES HAVE BEEN CLIMBING LATELY.  THE JUNE CONTRACT TRADED ABOVE 100 DOLLARS PER HUNDRED WEIGHT TUESDAY. THAT'S A NEAR TWO YEAR HIGH DRIVEN BY STRONG U.S. CONSUMER DEMAND AND TIGHTER NEAR TERM SUPPLIES.

PORK REGULATION:

YESTERDAY ON AGDAY WE TALKED ABOUT THE GLOBAL TRADE OPPORTUNITIES THAT COULD BENEFIT U-S PORK PRODUCERS. BUT DOMESTICALLY, IT'S STRINGENT REGULATIONS THAT IS BURDENSOME FOR MANY OPERATIONS. AS AGDAY NATIONAL REPORTER TYNE MORGAN TELLS US, IT'S THE FUTURE OF PORK PRODUCTION THAT COULD BE AT STAKE.

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