USFR Weekly Recap - August 24-25, 2013

August 24, 2013 03:30 AM
 

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THIS WEEK ON U.S. FARM REPORT

EPISODE # 2089

AUGUST 24-25, 2013   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. THIS WEEK IS ALL CROP TOUR ALL THE TIME. AND I CAN'T REMEMBER A PROFARMER TOUR UNDER CONDITIONS AS RUGGED AS THIS ONE. SO BEFORE WE GIVE YOU THE NUMBERS LET ME SET SO. FIRST IN ORDER TO HAVE DATA THEY CAN COMPARE YEAR TO YEAR, PROFARMER REPORTED THE STATE TOTALS COMPARED TO THE THREE YEAR AVERAGE. WE ALL KNOW THAT AVERAGE IS SKEWED BY LAST YEAR'S DROUGHT, BUT IT'S JUST THE FORMAT WE USE. SECOND, THIS IS THE CROP POTENTIAL TODAY, AND THE CROP FAR FROM THE BIN THIRD, THE TOUR IS FOCUSSED ON YIELD, NOT ACRES. FINALLY, NOBODY CAN GUESS SOYBEAN YIELDS UNTIL THE NEXT TO LAST PASS WITH THE COMBINE. TIME NOW FOR THE HEADLINES.

HEADLINES:

THANK YOU JOHN. THE 20-13 PRO FARMER MIDWEST CROP TOUR IS IN THE BOOKS, AND THE RESULTS ARE DRAWING MORE ATTENTION THAN EVER BEFORE. LET'S GET RIGHT TO THE NUMBERS. FIRST WE'LL START WITH CORN ESTIMATES. PRO FARMER ESTIMATES THE OVERALL NATIONAL CORN YIELD AT 154 BUSHELS AN ACRE, WITH A TOTAL PRODUCTION OF 13-POINT-FOUR-BILLION BUSHELS. AS FAR AS SOYBEANS PROFARMER PEGS THE AVERAGE YIELD AT 41-POINT-EIGHT BUSHELS AN ACRE WITH A TOTAL PRODUCTION OF THREE-POINT-ONE BILLION BUSHELS. BOTH YIELDS ARE SLIGHTLY BELOW USDA'S AUGUST PREDICTIONS. ONE THING COMPLICATING THE PROCESS THIS YEAR IS THE HIGH NUMBER OF PREVENT PLANT ACRES. PROFARMER TOOK ONE-POINT-EIGHT MILLION OFF OF HARVESTED ACRES FOR CORN AND 800-THOUSAND HARVESTED ACRES OFF OF SOYBEANS TO REFLECT THE PREVENTED PLANT ACRES IN IOWA, MINNESOTA AND NORTH DAKOTA. AS FAR AS THE PROCESS - FOR 21 YEARS, OUR PARTNERS AT PRO FARMER HAVE LED SCOUTS THROUGH SEVEN OF THE TOP CORN AND SOYBEAN STATES IN THE COUNTRY. THEY COLLECT THOUSANDS OF SAMPLES FROM OHIO TO NEBRASKA TO COME-UP WITH ITS FORECAST. THIS YEAR BECAUSE OF EXTREME VARIABILITY AND SLOW DEVELOPMENT, SCOUTS FOCUSED ON CROP POTENTIAL.

CROP WATCH:

AS YOU MIGHT EXPECT CROP SCOUTS ARE SHARING PLENTY OF PHOTOS ALONG THEIR ROUTE. THIS ONE WAS SENT IN FROM CRAWFORD COUNTY IOWA. YOU CAN SEE THE LARGE CRACKS FORMING IN THE GROUND BENEATH THE CROP CANOPY. FARMERS SAY JULY WAS TOO DRY. OUTSIDE THE CORN BELT, THERE ARE CONCERNS ABOUT THE COTTON CROP. IN NORTHERN ALABAMA CROP REPORTERS SAY A LACK OF SERIOUS SUN AND HEAT HAVE FARMERS THERE WORRIED ABOUT A POTENTIAL FROST BEFORE PLANTS MATURE.
THEY'RE EXPECTING A LATE HARVEST.

ROUNDTABLE:

WHEN WE COME BACK WE'RE OFF TO MINNESOTA WHERE OUR TRAVELING BAND OF CROP SCOUTS PUT A BOW ON THIS WEEK'S TOUR. ROUNDTABLE IS NEXT.

JOHN’S WORLD:

REMEMBER THE TARP - THE TROUBLED ASSET RELIEF PLAN? IT'S ALSO BEEN CALLED THE BAILOUT AND SEVERAL OTHER NAMES WE CAN'T MENTION ON TV. ANYWAY, THOSE HUNDREDS OF BILLIONS THAT THE BUSH ADMINISTRATION THREW AT THE FINANCAIL PANIC IN 2008 AND WHICH WERE FOLLOWED BY ADDITIONAL AID UNDER PRESIDENT OBAMA HAVE BEEN A SOURCE OF IRE FOR MANY CITIZENS. WELL, A FUNNY THING HAS BEEN HAPPENING. ACCORDING TO THE BAILOUT TRACKER, A NON-POLITICAL WATCHDOG, ALL THAT MONEY WE THOUGH HAD BEEN THROWN AWAY HAVE BEEN SLOWLY RETURNING HOME. OF THE 608 BILLION DOLLARS DISBURSED BY THE GOVERNMENT, 500 BILLION HAVE BEEN RETURNED IN THE FORM OF PAYBACKS OR DIVIDENDS OR INTEREST. THIS UNEXPECTED RECOVERY IS ALL THE MORE SURPRISING SINCE THE GOVERNMENT STILL HAS HUNDREDS OF ASSETS LEFT TO LIQUIDATE, LIKE SOME OF THE GENERAL MOTORS STOCK. IN FACT, OF THE 780 INVESTMENTS MADE, ABOUT 500 HAVE MADE A PROFIT, 86 HAVE SHOWN A LOSS, AND ABOUT 200 ARE STILL HELD. THIS ALL THE MORE AMAZING SINCE BILLIONS WERE GIVEN OUT AS SUBSIDIES, NOT INVESTMENTS TO BE PAID BACK. THE U-S INVESTED 187 BILLION IN FANNIE MAE AND FREDDIE MAC AND MAY NEVER BE RETURNED, BUT THOSE AGENCIES HAVE PAID 132 BILLION IN DIVIDENDS TO THE TREASURY. OUR BUREAUCRATS MANAGED TO DO WHAT FEW OTHERS DID: THEY BOUGHT LOW AND SOLD HIGH.

2ND HALF

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IN ANOTHER OF A LONG LINE OF TREND CHANGES WE'VE SEEN RECENTLY, HERE'S ONE THAT REALLY SURPRISED ME. AS WE STAND ON THE BRINK OF ANOTHER FALL HUNTING SEASON IT SEEMS THE DECADES LONG DECLINE IN THE NUMBER OF HUNTERS HAS BEEN REVERSED. SINCE 2006 THE HUNTING POPULATION HAS GROWN ABOUT 10%. THIS ACCORDING TO AN INTERIOR DEPARTMENT SURVEY TAKEN EVERY 5 YEARS. NO REASON WAS GIVEN, BUT I'M WONDERING IF MORE FOLKS ARE HUNTING LESS FOR SPORT AND MORE FOR FOOD. I KNOW OUR LOCAL SLAUGHTERHOUSE DOES A BIG BUSINESS HELPING FOLKS FILL THEIR FREEZERS. REGARDLESS, AS A RURAL ROAD DRIVER, I HOPE THEY ALL GET THEIR LIMIT. LET'S GET STARTED WITH THE HEADLINES AND AL PELL IN FOR TYNE MORGAN.

HEADLINES:

THANKS JOHN - WE BEGIN WITH MORE BACK AND FORTH OVER THE NEW COUNTRY OF ORIGIN LABELING LAW. NEW DATA SHOWS PRICES AT THE GROCERY STORE ARE CLIMBING - BUT SLOWER THAN ORIGINALLY PROJECTED. THE AG DEPARTMENT REPORTS FOOD PRICES ARE EXPECTED TO CLIMB ABOUT TWO PERCENT THIS YEAR...ABOUT HALF AS MUCH AS ITS PRIOR FORECAST. WHILE PRICES FOR BEEF, POULTRY AND EGGS ARE ON THE INCREASE, DAIRY PRODUCTS CONTINUE TO HEAD LOWER. ALSO FROM THE U-S-D-A THIS WEEK, IT APPEARS A GROWING NUMBER OF AMERICAN FARMS ARE WIRED. WITH HARVEST ALREADY WELL UNDERWAY IN MANY PARTS OF THE SOUTH, WE ARE LEARNING ABOUT A UNIQUE SWING IN THE FLOW OF CORN.

HEARTLAND:

ART COMES IN ALL SHAPES, SIZES AND FORMS...AND IN SOME CASES, FROM THE MOST UNLIKELY SOURCES. TEXAS COUNTRY REPORTER BOB PHILLIPS INTRODUCES US TO A WOMAN WHO'S CREATING WORKS OF ART IN THE LIGHT...AND THE DARK.

CHERRY GROWERS:

THE TRANSITION OF A FARM DOESN'T ALWAYS GO AS PLANNED, ESPECIALLY WHEN UNEXPECTED TRAGEDY HITS TOO CLOSE TO HOME. IN THIS LEAVE A LEGACY REPORT, TYNE MORGAN TAKES US TO SCENIC MICHIGAN TO MEET A FAMILY THAT IS WORKING TO ENSURE THE NEXT GENERATION CAN THRIVE ON THE FARM.

TRACTOR TALES:

AL IS BACK NOW AND I UNDERSTAND YOU HAVE A RARE MASSEY FROM KANSAS THIS WEEK.
THAT'S RIGHT JOHN...WE MET A COLLECTOR JUST SOUTH OF WICHITA WHO ENJOYS OWNING THIS PIECE OF HISTORY.

CHURCH SALUTE:

OUR COUNTRY CHURCH SALUTE THIS WEEK GOES TO ST. PETERS LUTHERAN CHURCH IN RICHFORD, WISCONSIN. IT'S A BIG MONTH FOR THE CONGREGATION AS IT WILL CELEBRATE THE 100TH ANNIVERSARY OF THIS BEAUTIFUL BUILDING. THE CHURCH ITSELF WAS FORMED 135 YEARS AGO AS MEMBERS GATHERED IN A WOODEN BUILDING. IN 1913 THAT BUILDING WAS STRUCK BY LIGHTNING AND BURNED TO THE GROUND. AS A RESULT THE CURRENT CHURCH WAS RAISED AT A COST OF JUST OVER 8-THOUSAND DOLLARS. OVER THE YEARS 27 DIFFERENT PASTORS HAVE LEAD THE CONGREGATION. AS PART OF ITS 100TH ANNIVERSARY CELEBRATIONS THIS MONTH, THE CHURCH DEDICATED A HANDICAP ACCESSIBLE ADDITION TO THE BUILDING. OUR THANKS TO MARK SCHUMACHER FOR TELLING US ALL ABOUT ST. PETERS LUTHERAN CHURCH OF RICHFORD, WISCONSIN.

MAILBAG:

TIME NOW FOR OUR WEEKLY LOOK INSIDE THE FARM REPORT MAILBAG...I FIGURED MENTIONING THE NANNY-STATE MIGHT TRIPO SOME TRIGGERS AND IT DID, INCLUDING THIS COUNTERARGUMENT FROM JAMES HEATH;

As always, we want to hear from you, send comments to mailbag@usfarmreport.com or leave us a voice mail at 800-792-4329.

 

 

 

 

 

 

 

 

 

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