USFR Weekly Recap - January 18-19, 2014

January 18, 2014 02:30 AM
 

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THIS WEEK ON U.S. FARM REPORT

EPISODE # 2110

JANUARY 18-19, 2014   

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IT'S THAT WONDERFUL TIME OF THE YEAR FOR ME TO SPEND TIME TRYING TO FIGURE OUT HOW I COULD POSSIBLY OWE SO MUCH INCOME TAX. I'M NOT ALONE. FARMERS ARE AMONG THE FEW WHO UNDERSTAND THAT TAXES ARE SOMETHING CITIZENS PAY - NOT SOMETHING YOU GET A REFUND FROM. IF WE EVER JOIN THE REST OF AMERICA AND HAVE TAXES WITHHELD FROM SAY GRAIN CHECKS OR MILK PAYMENTS, I DOUBT WE WOULD BE QUITE SO RELIABLY OUTRAGED.DON'T PANIC - THERE IS NO MOVE TO CHANGE THIS, BUT I THINK WE NEED TO KEEP IN MIND THAT WE ENJOY A RARE PRIVILEGE OF PAYING INCOME TAXES OFTEN LONG AFTER WE EARN THE INCOME.

HEADLINES:

AS WE HEAD INTO THE FOURTH WEEK OF JANUARY, FARMERS AND RANCHERS ARE STILL WITHOUT A FORMAL FRAMEWORK OF THE NEW FARM BILL. FSA RELEASED ITS FINAL ACREAGE NUMBERS FOR THE YEAR. IT SHOWS FARMERS PLANTED 92 POINT 1 MILLION ACRES OF CORN LAST YEAR. THAT COMPARES TO USDA'S LATEST REPORT THAT SHOWED 95 POINT 4 MILLION PLANTED ACRES.  FSA'S PREVENT PLANT NUMBER TOTALED 3 POINT 6 MILLION. AND FOR SOYBEANS, FSA SAYS PLANTED ACRES TOTALED 75 POINT 3 MILLION ACRES. USDA'S JANUARY REPORT SHOWED 76 POINT 5 MILLION. FSA SHOWS PREVENT PLANTAT 1 POINT 7 MILLION FOR SOYBEANS. A CLARIFICATION TO A STORY WE AIRED LAST WEEK REGARDING TYSON FOODS' REQUEST TO FARMERS FOR MORE HUMANE TREATMENT OF ANIMALS.

CROP WATCH:

CROP WATCH THIS WEEK COVERS THE NORTH AND THE SOUTH.

ROUNDTABLE:

OUR MARKET ANALYSTS JOIN US FOR THE MARKETING ROUNDTABLES MIKE HOGAN AND MIKE FLOREZ ARE HERE.

JOHN’S WORLD:

WHILE MOST FARMERS HAVE BEEN FOLLOWING BREAKING NEWS ON THE FARM BILL, MARKET PRICES AND SIMILAR URGENT ECONOMIC DEVELOPMENTS, RECENTLY THERE WAS A QUIET ANNOUNCMENT FROM CHINA THAT COULD IMPACT OUR INDUSTRY MORE THAN MANY EXPECT.  AS PART OF THE GOVERNMENT POLICY CHANGES ANNOUNCED AT THE PLENARY SESSION, PRESIDENT XI JINPING OUTLINED THE REFORM OF THE DECADES-OLD SYSTEM OF MIGRATION CONTROL CALLED HUKOU. UNDER THIS REGIME, CHINESE CITIZENS WHO MOVED FROM THEIR REGISTERED BIRTHPLACE, TO FIND WORK FOR EXAMPLE, LEFT BEHIND MOST OF THE RIGHTS AND BENEFITS. MIGRANTS WERE UNABLE TO GET HEALTH CARE, EDUCATION, EVEN BUY AN APARTMENT OR GET A DRIVER'S LICENSE. THE DEMAND FOR LABOR, COUPLED WITH A HUGE DISPARITY IN URBAN AND RURAL INCOMES LEFT MANY CHINESE WITH LITTLE CHOICE, HOWEVER.

2ND HALF

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. I'M NOT SURE, BUT THE RAPIDLY DECREASING DEFICIT SEEMS TO BE AFFECTING THE MOOD IN WASHINGTON. WHILE STILL HIGH, THE 2014 BUDGET GAP COULD SHRINK TO BELOW 280 BILLION DOLLARS, ALMOST A ROUNDING ERROR AFTER TRILLION-DOLLAR PLUS SHORTFALLS. BUT HERE'S MY PREDICTION: AS THE RED INK SHRINKS, THE URGE TO CUT TAXES WILL GAIN GROUND AS THE URGE TO CUT SPENDING WANES. IF THIS YEAR'S BUDGET SURPRISES IN A GOOD WAY - AND THE FIRST QUARTER ALREADY HAS - THERE COULD BE A NEW ATTITUDE IN THE CAPITAL. LET'S GET STARTED WITH THE HEADLINES AND TYNE MORGAN.

HEADLINES:

THANKS, JOHN. BOTH THE HOUSE AND SENATE PASSED A 1 POINT 1 TRILLION DOLLARS OMNIBUS SPENDING BILL THIS WEEK. THE HOUSE WAS THE FIRST TO VOTE OVER THEIR 15 HUNDRED PAGE LEGISLATION WITH 359 FOR THE BILL AND 67 AGAINST. CHINESE OFFICIALS SAY THEY ARE DIVING INTO THE G-M-O ARENA, IN HOPES OF TAKING THE LEAD IN THE BIOTECH FIELD. THAT'S ACCORDING THE DEPUTY MINISTER OF AGRICULTURE, CHEN XIAOHUA. A COUNTY IN OREGON IS TRYING TO BAN THE GROWTH OF GENETICALLY ENGINEERED SEEDS. THE BALLOT INITIATIVE IN JACKSON COUNTY, OREGON WILL BE UP FOR A VOTE THIS SPRING. OREGON FARM BUREAU PRESIDENT BARRY BUSHUE TOLD U.S. FARM REPORT A SEED PREEMPTION BILL PASSED IN A SPECIAL SESSION THAT BANS LOCAL GOVERMENTS FROM REGULATING THE PRODUCTION OF SEED BUT THE GMO BAN WAS PROPOSED BEFORE THAT LEGISLATION PASSED. CATTLE FUTURES CONTINUED ON A BULLISH RIDE THIS WEEK. ON THURSDAY, CHOICE BOXED BEEF HIT A RECORD $227.42, UP TWO DOLLARS AND 90 CENTS. SELECT ENDED THE DAY UP $2.55. TWO FACTORS FUELING THE UPWARD TREND IN PRICES ARE THE COLD WEATHER IMPACTING WEIGHT GAIN PLUS CONTINUED TIGHT SUPPLIES.

ZOO GRAD:

IN THIS BRAND NEW YEAR, DO YOU HAVE A GOAL TO CHANGE JOBS IN 2014? PERHAPS YOU'LL FIND THAT "DREAM" JOB? MANY OF US STRIVE FOR THAT LOFTY GOAL, BUT FEW FULFILL IT.
HOWEVER, A FORMER UNIVERSITY OF MISSOURI STUDENT IS THE EXCEPTION. SHE'S LIVING HER DREAM IN A ZOO...SO TO SPEAK. IN THIS REPORT PROVIDED BY THE UNIVERSITY OF MISSOURI EXTENSION, KENT FADDIS TELLS US HOW SHE GOT THERE.

BAXTER BLACK:

AS FLU SEASON CONTINUES TO RAMP UP ACROSS THE COUNTRY, MANY OF US ARE GLAD A DOCTOR IS NEARBY. BAXTER BLACK HAS A TRIBUTE TO A SPECIAL DOCTOR. THE ONE YOU CAN COUNT ON TO TAKE CARE OF MAN'S BEST FRIEND OR YOUR PRIZE COW.

TRACTOR TALES:

AL, WHERE ARE YOU TAKING US FOR TRACTOR TALES THIS WEEK? JOHN, WE'RE OFF TO MONTANA FOR THIS WEEK'S CLASSIC TRACTOR.

CHURCH SALUTE:

TODAY'S COUNTRY CHURCH SALUTE GOES TO THE ZION LUTHERN CHURCH IN REPUBLIC, OHIO. THE CHURCH JUST CELEBRATED ITS 175TH ANNIVERSARY IN OCTOBER. IT'S SEEN MANY CHANGES OVER THE YEARS INCLUDING SPREADING the GOSPEL IN DIFFERENT LANGUAGES. IN 1885, THE ORIGINAL CHURCH WAS ERECTED AND THE SERVICES WERE CONDUCTED IN GERMAN. THEN, IN 1957, ANOTHER CHANGE HAPPENED WHEN THE ADAMS LUTHERAN CHURCH AND THE FIRESIDE LUTHERAN CHURCH MERGED.  THE CONGREGATION IS STILL ALIVE AND ACTIVE AFTER ALL THESE YEARS. THEIR OLDEST MEMBER, EVELY MATZ, JUST CELEBRATED HER 101ST BIRTHDAY. OUR THANKS TO DALE BICKEL, A LIFELONG MEMBER OF THE CHURCH, FOR SHARING THEIR STORY.

MAILBAG:

TIME NOW FOR OUR WEEKLY LOOK INSIDE THE FARM REPORT MAILBAG. THE WEATHER HAS BEEN A HOT TOPIC SO TO SPEAK LATELY, AND ONE LOYAL VIEWER ISN'T CRAZY ABOUT WHAT HE SEES ON THE MAPS. "I LIVE 40 MILES S.W. OF SPOKANE AND OUR ANNUAL RAINFALL IS AROUND 15" PER YEAR, SO WE ARE 1/3 BELOW NORMAL. IT SEEMS SOMETHING IS MESSED UP WITH THE DROUGHT MAP."

 

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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