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AgDay Daily Recap -June 18, 2014

June 18, 2014
 
 

TODAY ON AGDAY
June 18, 2014
 
BEEF HONG KONG:

GOOD MORNING I'M CLINTON GRIFFITHS. AS BEEF PRICES CONTINUE THEIR RUN HIGHER, EXPORTS DON'T SEEM TO SUFFER FROM PRICE WEARY CONSUMERS…AND THAT'S OUR TOP STORY ON AGDAY.

CHINESE BEEF:

MEANWHILE, A DELEGATION FROM CHINA'S FOOD SAFETY AGENCY IS COMING TO THE U.S. TO LOOK AT AMERICAN BEEF PRODUCTION - THAT'S ACCORDING TO MEATINGPLACE.

THE U.S. MEAT EXPORT FEDERATION HOPES THE VISIT WILL ENCOURAGE CHINA TO REMOVE ITS BAN OF IMPORTS OF U.S. BEEF - IT'S BAN DATES BACK TO DECEMBER 2003 FOLLOWING THE FIRST U.S. CASE OF BSE. THE USMEF EXPECTS CHINA COULD BEGIN WITH A STAGGERED PROTOCOL-- ALLOWING IMPORTS OF BONE-IN AND BONELESS BEEF FROM U.S. CATTLE AGE 30-MONTHS OR YOUNGER.

NEBRASKA TORNADO:

DAMAGE ASSESSMENTS ARE STILL UNDERWAY IN NORTHEAST NEBRASKA AFTER TORNADOES TOUCHED DOWN ON MONDAY. AND THIS STORM WAS ESPECIALLY INTENSE AS IT SPAWNED TWIN-TWISTERS. THIS IS AN IMAGE YOU RARELY SEE. THEY CAUSED WIDESPREAD DAMAGE IN THE SMALL FARM TOWN OF PILGER.

THE TWO FUNNELS WERE ABOUT A MILE APART.AT LEAST TWO PEOPLE DIED. OFFICIALS SAY THREE QUARTERS OF THE TOWNS BUILDINGS WERE SEVERELY DAMAGED OR DESTROYED.THE NATIONAL WEATHER SERVICE IN OMAHA DISPATCHED TWO CREWS TO THE AREA TO ASSESS DAMAGE AND DETERMINE THE E-F INTENSITY. LET'S CHECK IN NOW WITH METEOROLOGIST MIKE HOFFMAN.

COTTON RESEARCH:

RESEARCH AND PROMOTION IS GETTING A BIG BOOST FOR COTTON GROWERS.

COTTON INCORPORATED BOARD OF DIRECTORS CALLING FOR 80 MILLION DOLLARS,  TO BE SPENT ON THE TWO DISCIPLINES IN 2015. BUT TO DO SO, IT'LL NEED TO PULL FROM ITS RESERVES. THE BOARD SAYS COTTON DEMAND IS NOT WHERE IT NEEDS TO BE AND NOWS THE TIME TO INVEST. THE COTTON BOARD AND COTTON INCORPOARED WILL MEET IN AUGUST TO FINALIZE THE 80 MILLION IN SPENDING BEFORE SENDING IT TO THE SECRETARY OF AG.

TEASE:

UP NEXT A LOOK AT GRAIN MARKETS AND WHY ONE ANALYST ISN'T PREDICTING DOOM AND GLOOM FOR U.S. SOYBEAN PRICES.

AGDAY REOPEN:

YOU ARE WATCHING AGDAY - HOSTED BY CLINTON GRIFFITHS, NATIONAL REPORTER TYNE MORGAN, FARM DIRECTOR AL PELL AND METEOROLOGIST MIKE HOFFMAN. AGDAY THE COUNTRY EXPERIENCE.

ANALYSIS INTRO:

SOYBEAN PRICES CONTINUE TO TICK LOWER. NOVEMBER BEANS NOW TRADING IN THE 12 DOLLAR RANGE.

WHILE PRICES ARE DOWN, THEY'RE NOT DOWN AS FAR AS MANY ANALYSTS EXPECTED IN 2014.

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