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USFR Weekly Recap - August 31 - September 1, 2013

August 31, 2013

                                                                                                                                                                                          

THIS WEEK ON U.S. FARM REPORT

EPISODE # 2090

AUGUST 31 - SEPTEMBER 1, 2013   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. OVER THE AUGUST RECESS, CONGRESS HEARD FROM LOTS OF CITIZENS, MOSTLY ANGRY ONES. IN FACT, THE WHOLE IDEA OF TOWNHALL MEETINGS IS FALLING OUT OF FAVOR AS DISRUPTIVE HECKLERS AND SINGLE-ISSUE FANATICS MAKE GIVE AND TAKE WITH REPRESENTATIVES A THING OF THE PAST. COMPARE THIS WEEK'S POWERFUL DEBATE OVER SYRIA IN THE BRITISH PARLIAMENT TO THOSE LOCAL SHOUTING MATCHES. OUR PUBLIC DISCOURSE IS AIMED AT YOU-TUBE, NOT EXCHANGING REASONS OR ATTEMPTING TO PERSUADE. BECAUSE POLITICS IS CENTERED ON WINNING ELECTIONS RATHER THAN GOVERNING, I SEE CONGRESS AS LESS LIKE A LEGISLATURE AND MORE LIKE TWO SIMULTANEOUS POLITICAL CONVENTIONS. TIME NOW FOR THE HEADLINES.....HERE'S TYNE MORGAN.

HEADLINES:

THANKS JOHN. IT WAS AN OPPRESSIVE WEEK THROUGH-OUT THE NATION'S MIDSECTION, PUTTING FURTHER STRESS ON THE CROPS. LOWER GRAIN PRICES WILL REDUCE 2013 FARM INCOME FROM A PREVIOUS GOVERNMENT ESTIMATE, BUT AT 120.6 BILLION DOLLARS, IT WILL STILL BE THE SECOND HIGHEST INFLATION-ADJUSTED INCOME SINCE 1973.  OTHER HIGHLIGHTS OF THE REPORT INCLUDE: RECORD HIGH EXPENSES, CONTINUING A STRING OF LARGE INCREASES FUELED BY FERTILIZER, SEED AND FEED; RECORD LOW DEBT-TO-EQUITY AND DEBT-TO-ASSET RATIOS; AND BETTER RESULTS ACROSS ALL GRAIN AND LIVESTOCK SECTORS.

CROP WATCH:

CROP WATCH THIS WEEK BEGINS IN NORTHERN AROOSTOOK COUNTY, MAINE, THE F--S-A OFFICE SAYS EARLY-VARIETY POTATOES ARE NOW BEING SPRAYED TO KILL VINES AND READY FOR HARVEST WHICH BEGINS IN ABOUT THREE WEEKS.

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