AgDay Daily Recap -November 21, 2013

November 21, 2013 03:57 AM
 

TODAY ON AGDAY

NOVEMBER 21, 2013

 

MCOOL UPDATE:

GOOD MORNING I'M TYNE MORGAN. CLINTON GRIFFITHS IS ON ASSIGNMENT. COUNTRY OF ORIGIN LABELING IS SCHEDULED TO TAKE EFFECT THIS WEEKEND, BUT SOME RANCHERS HOLD ONTO HOPE CONGRESS WILL ACT BEFORE RETALIATION SETS IN. THAT'S OUR TOP STORY ON AGDAY.

BEEF OUTLOOK:

CATTLE FUTURES POSTED THE BIGGEST TWO-DAY DROP IN TEN MONTHS THIS WEEK. THIS COMES AS SPECULATORS BELIEVE BEEF PRODUCTION IS OUTPACING DEMAND.

CHINA PIGS:

MEANWHILE, CHINESE PIG FARMERS ARE HAVING TO FIND OTHER LOCATIONS TO FARM. THE CENTRAL HUNAN PROVINCE SAYS IT WANTS TO SAVE ITS POLLUTED MOTHER RIVER BY EITHER RELOCATING OR CLOSING ANY PIG FARMS THAT ARE LOCATED ALONG the RIVER. THE RIVER HAS BEEN POLLUTED BY WASTE, AS WELL AS ANIMAL CARCASSES. THIS MEANS HUNDREDS OF PIG AND POULTRY FARMS WILL NEED TO MOVE BY 2016. HUNAN IS CHINA'S TOP PIG PRODUCING AREA.

BRAZIL CROP DAMAGE:

SPEAKING OF COMMODITIES, ALL EYES ARE ON BRAZIL'S CROP, AS FARMERS ARE EXPECTED TO PRODUCE A RECORD NUMBER OF SOYBEANS THIS WINTER. REPORTS NOW INDICATE CATEPILLARS MAY STAND IN THE WAY. BRAZIL'S AGRIUCLTURE MINDISTRY DECLARED A STATE OF EMERGENCY IN MATO GROSS {MATTA GROSSOE}. CATERPILLARS HAVE INFESTED THE CROPS CAUSING DEVESTATION. THIS WILL CAUSE PRODUCTION COSTS TO SPIKE AS MORE INSECTICIDE APPLICATIONS WILL BE NEEDED.

TEXAS CROP INSURANCE:

CROP DAMAGE IS NOTHING NEW TO U-S FARMERS, ESPECIALLY THOSE WHO'VE ENDURED MULTIPLE YEARS OF DEVESTATING DROUGHT. YOU CAN HAVE THE NEWEST EQUIPMENT AND THE BEST SEED TECHNOLOGY, BUT IF WEATHER DOESN'T COOPERATE, ALL THAT EXPENSE CAN JUST END-UP ON THE "LOSS" SIDE OF THE LEDGER. THAT'S WHY MANY FARMERS FEEL SO STRONGLY ABOUT CROP INSURANCE. ED WOLFF WITH THE TEXAS FARM BUREAU HAS MORE.

CROP WATCH:

AS OF MONDAY 60-PERCENT OF TEXAS COTTON WAS HARVESTED. ONLY 30-PERCENT IS RATED GOOD TO EXCELLENT. ANOTHER 40-PERCENT IS FAIR. MIKE HOFFMAN LOOKS AT COTTON CONDITIONS IN THIS MORNING'S CROPWATCH, MIKE.

JOHN DEERE EARNINGS:

IN AGRIBUSINESS TODAY - JOHN DEERE POSTED FOURTH QUARTER EARNINGS. THE COMPANY SAYS INCOME ROSE 17 PERCENT IN the LAST QUARTER OF THE YEAR AND FULL-YEAR EARNINGS REACHED A RECORD 3 POINT 5 BILLION. LOOKING FORWARD, SALES DON'T LOOK QUITE AS GOOD DUE TO EXPECTED LOWER FARM INCOMES. DEERE FORECASTS WORLDWIDE SALES OF BOTH AG AND TURN EQUIPMENT TO DROP 6 PERCENT IN 2014.
ANALYSIS:

THE 2014 ECONOMIC OUTLOOK IS LOOKING DIFFERENT FOR MORE THAN JUST AG COMPANIES. FARMERS ARE PREPARING FOR CHANGES TOO. AL PELL TALKS TO CHIP NELLINGER IN THIS MORNING'S ANALYSIS WHO TELLS US WHY FARMERS NEED TO GET BACK TO THE BASICS.
PRAIRIE SCHOOL:

THE RAPID ECONOMIC GROWTH OF WESTERN NORTH DAKOTA'S OIL INDUSTRY IS CREATING THOUSANDS OF JOBS, BUT EMPLOYMENT OPPORTUNITIES AREN'T LIMITED TO ENERGY EXPLORATION. A PRAIRIE SCHOOL RIGHT IN THE MIDDLE OF THE STATE'S BOOMING OIL PATCH IS GIVING ONE BIG CITY TEACHER A CHANCE TO EXPLORE A SIMPLER LIFESTYLE.
CLIFF NAYLOR FROM AFFILIATE KFYR REPORTS.

BEEF DEMAND:

IN FOOD AND YOUR FAMILY, AS BEEF PRICES RISE AT the STORE, MORE CONSUMERS ARE OPTING FOR OTHER TYPES OF MEAT, INCLUDING PORK AND POULTRY.

 

 

 
 
 


 
  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
  
      
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