USFR Weekly Recap - March 22-23, 2014

March 22, 2014 03:30 AM
 

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THIS WEEK ON U.S. FARM REPORT

EPISODE # 2119

MARCH 22-23, 2014   

 

TYNE’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M TYNE MORGAN. JOHN PHIPPS WILL JOIN US LATER IN THE SHOW FROM HIS FARM.  WHILE TRAVELING THIS WEEK IN KANSAS, FIERCE WINDS MADE IT TOUGH TO KEEP OUR VEHICLE ON the ROAD. IT SEEMS FARMERS IN THE PLAINS ARE USED TO IT. WHAT THEY'RE ALSO GETTING USED TO IN THAT PART OF THE WORLD IS THE TEASE OF THESE WHEAT MARKETS. JUST AS WE THINK THE BULLS HAVE AHOLD OF THE PRICES, ALL OF A SUDDEN, WHEAT TAKES A DIVE. THAT'S JUST ONE OF THE MANY TOPICS WE'LL DISCUSS IN THIS WEEK'S MARKETING ROUNDTABLE. BUT FIRST, THE HEADLINES.

HEADLINES:

MORE ECONOMISTS PROVIDED LONG-TERM BEARISH NEWS FOR CORN THIS WEEK. ECONOMISTS AT THE FOOD AND AGRICULTURAL POLICY RESEARCH INSTITUTE - BETTER KNOWN AS 'FAPRI' - SAY FARMERS SHOULD GET USE TO FOUR DOLLAR CORN FOR THE NEXT DECADE. FAPRI GENERATES AN ANNUAL REPORT FOR CONGRESS. THEIR NUMBER CRUNCHERS SAY DUE TO BIGGER CROPS IN 2013 GRAIN PRICES AND GRAIN FARMER INCOMES WILL BE LOWER. THE ECONOMISTS SEE NET FARM INCOME DROPPING 24% FROM LAST YEAR. LIVESTOCK PRODUCERS WILL BENEFIT FROM THE PROJECTED LOWER FEED COSTS. THE LATEST CATTLE ON FEED the NUMBER OF CATTLE ON FEED IN FEEDLOTS OF ONE THOUSAND HEAD OR MORE FELL FOR AN 18TH CONSECUTIVE MONTH. HOWEVER, PLACEMENTS FOR THE MONTH WERE 15 PERCENT HIGHER, WHICH WILL HELP PACKERS THIS SUMMER AND FALL. MARKETINGS OF CATTLE WHERE DOWN 3 PERCENT...COMPARED TO 2013...THE LOWEST MONTHLY NUMBER SINCE THE DATA BEGAN IN 1996. AS THE WINTER WHEAT CROP CONTINUES TO POP OUT OF DORMANCY, GROWERS ARE GETTING A HANDLE ON HOW MUCH DAMAGE THIS BRUTAL WINTER CAUSED. AS THE VALUE OF EQUIPMENT AND ANIMALS ON FARMS HAS GONE UP, SO HAVE THE NUMBER OF THEFTS.  ACCORDING TO THE NATIONAL INSURANCE CRIME BUREAU--THE AMOUNT OF ANIMAL, EQUIPEMENT, FENCING AND IRRIGATION WIRE BEING STOLEN ISN'T SLOWING DOWN. THE WALLSTREET JOURNAL REPORTS THEIVES STOLE MORE THAN A MILLION DOLLARS WORTH OF METAL FROM AG PROPERITIES LAST YEAR..FOUR TIMES WHAT IT WAS IN 2009. A NEW REPORT FROM A GROUP FOCUSED ON IMMIGRATION REFORM SUGGESTS U.S. GROWERS ARE STARTING TO LOSE OUT TO FOREIGN FARMERS. IT'S LARGELY DUE TO LACK OF LABOR. THAT'S ACCORDING TO THE PARTNERSHIP FOR A NEW AMERICAN ECONOMY AND THE AG COALITION FOR IMMIGRATION REFORM. THE GROUPS SAY THE SHARE OF FRESH FRUITS AND VEGETABLES CONSUMED BY AMERICAN FAMILIES THAT WAS IMPORTED HAS GROWN BY NEARLY 80 PERCENT IN RECENT YEARS. AND LABOR CHALLENGES ARE ADDING UP-- COSTING U.S. FARMERS $1.4 BILLION IN FARM INCOME IN 2012. IT'S BEEN TWO YEARS SINCE A FREE TRADE AGREEMENT BETWEEN THE U-S AND SOUTH KOREA CAME INTO FORCE. BUT THE ASIAN NATION STILL HASN'T FULLY COMPLIED WITH THE F-T-A. A SENIOR U-S OFFICIAL SAYS SOUTH KOREA WON'T BE WELCOMED INTO THE TRANS-PACIFIC PARTNERSHIP UNTIL ALL PROBLEMS ARE RESOLVED. THE TRADE DEAL INVOLVES A DOZEN COUNTRIES LINING THE PACIFIC RIM.  SOUTH KOREA IS THE FIFTH LARGEST EXPORT MARKET FOR U-S AGRICULTURAL PRODUCTS. MEANWHILE, THE FOURTH ROUND OF TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP, OR T-TIP, TALKS ARE NOW COMPLETE. U.S. TRADE REPRESENTATIVE MICHAEL FROMAN SAYS THERE'S STILL A LOT OF WORK AHEAD. BUT HE BELIEVES THERE'S ALSO A GOOD UNDERSTANDING OF THE KEY ISSUES THAT NEED TO BE RESOLVED. PRESIDENT OBAMA WILL DISCUSS T-TIP WITH EUROPEAN LEADERS DURING A SUMMIT IN BRUSSELS NEXT WEEK.

CROP WATCH:

MEANWHILE, THE FOURTH ROUND OF TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP, OR T-TIP, TALKS ARE NOW COMPLETE. U.S. TRADE REPRESENTATIVE MICHAEL FROMAN SAYS THERE'S STILL A LOT OF WORK AHEAD. BUT HE BELIEVES THERE'S ALSO A GOOD UNDERSTANDING OF THE KEY ISSUES THAT NEED TO BE RESOLVED. PRESIDENT OBAMA WILL DISCUSS T-TIP WITH EUROPEAN LEADERS DURING A SUMMIT IN BRUSSELS NEXT WEEK.

ROUNDTABLE:

GREGG HUNT AND BRIAN BASTING JOIN ME TO BREAK DOWN THE MARKETS.

JOHN’S WORLD:

JUST IN TIME FOR SPRING CLEANING, JOHN PHIPPS JOINS US FROM HIS FARM WITH SOME THOUGHTS ON STORAGE.

2ND HALF

TYNE’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M TYNE MORGAN. JOHN PHIPPS WILL JOIN US HIS FARM LATER ON THE SHOW. WELL, IT ALREADY SEEMS MOTHER NATURE IS NOT GOING TO DISSAPOINT WITH AN EVENTUL YEAR.. AGAIN. WITH MANY FIELDS STILL BURIED IN SNOW, PLANTING 2014 SEEMS LIKE AN ENTERNITY AWAY. AND JUST A WARNING, MOST OF YOU WON'T LIKE MIKE HOFFMAN'S FORECAST THIS WEEK, EITHER. BUT BEFORE WE GET TO THAT, LET'S GET STARTED WITH THE HEADLINES.

HEADLINES:

CALIFORNIA FARMERS MAY FINALLY SEE A LITTLE WATER RELIEF THIS SEASON. THE WATER RESOURCES CONTROL BOARD ANNOUNCED THIS WEEK IT WILL EASE SOME OF THE ENVIRONMENTAL RESTRICTIONS IN the SAN JOAQUIN-SACREMENTO RIVER DELTA. THE BOARD SAYS IT WILL TEMPORARILY ALLOW MORE WATER TO BE HELD IN UPSTREAM RESERVOIRS, INSTEAD OF ALLOWING IT TO FLOW INTO THE SACRAMENTO RIVER. MEANWHILE, THE CALIFORNIA FARM WATER COALITION UPPED ITS ESTIMATE OF HOW MANY FARM ACRES WILL GO FALLOW THIS YEAR DUE TO DROUGHT. THE ORGANIZATION EXPECTS FARMERS TO LEAVE 800-THOUSAND ACRES UN-PLANTED. THAT'S UP FROM THE HALF MILLION ACRES IN A PREVIOUS FORECAST. WHILE EAST OF THE MISSISSIPPI RIVER AND MUCH OF THE UPPER MIDWEST EXPERIENCED HEAVY SNOW FALL THIS WINTER, THE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION SAYS THE WINTER SEASON - OVERALL - WAS DRIER THAN AVERAGE. NOAA ALSO SAYS IT WAS COLDER. AS MANY OF US KNOW, OLD MAN WINTER ISN'T GOING OUT WITHOUT A FIGHT. AND THAT MEANS THE FLOODING SEASON WILL BE PUSHED BACK TO LATER THIS SPRING. NOAA IS WARNING OF A MODERATE FLOOD RISK IN PORTIOSN OF WISCONSIN, MICHIGAN, ILLINOIS, INDIANA AND IOWA. THAT'S BECAUSE OF THE HEAVY SNOWPACK. AND IT MEANS THE MISSISSIPPI RIVER AND ILLIONIS RIVERS ARE AT RISK OF TOPPING THE BANKS. THERE'S ALSO A MODERATE RISK OF FLOODING ALONG THE RED RIVER IN NORTH DAKOTA AND MINNESOTA. NOAA THINKS MINOR FLOODING COULD OCCUR IN THE NORTHERN ROCKIES, MIDWEST AND PORTIONS OF THE SOUTHEAST.

AMERICAN COUNTRYSIDE:

FOR THE PAST TWO DECADES ANDREW MC-CREA HAS ROAMED THE AMERICAN COUNTRYSIDE VISITING INTERESTING PLACES AND MEETING COLORFUL CHARACTERS. HIS DAILY RADIO PROGRAM IS HEARD ON DOZENS OF STATIONS AROUND THE COUNTRY - AND THIS WEEKEND, WE BRING HIS UNIQUE STORY-TELLING TALENTS TO U-S FARM REPORT. ANDREW JOINS US FROM HILL COUNTRY IN SOUTH-CENTRAL TEXAS.

LEGACY REPORT:

THERE'S BEEN A BIG MOVEMENT WITHIN AGRICULTURE FOR FARMERS TO BE THEIR OWN ADVOCATES. ONE FAMILY IN KANSAS IS DOING JUST THAT. IN THIS LEAVE A LEGACY REPORT, YOU'LL MEET FIFTH GENERATION FARMERS WHO ARE CREATING A LEGACY FOR NOT ONLY THEIR ONLY FAMILY, BUT ALL OF AGRICULTURE. AND IT'S THEIR HOMEGROWN SUCCESS THAT'S STRIKING A CHORD WITH WEB USERS ACROSS THE GLOBE.

TRACTOR TALES:

AL, I HEAR THIS WEEK'S TRACTOR IS LITERALLY IN SOMEONE'S BACK YARD?" THAT'S RIGHT TYNE! THIS CLASSIC ALLIS-CHALMERS LIVES IN SUBURBIA ROCHESTER MINNESOTA. WHILE IT STILL HAS IT'S WORKING CLOTHES ON, OWNER TERRY DEMPSTERS TELLS US HE HAS BIG PLANS FOR THIS CLASSIC D-10.

CHURCH SALUTE:

TODAY'S COUNTRY CHURCH SALUTE GOES TO THE CANNONVILLE COMMUNITY CHURCH IN WATERVILLE, MINNESOTA. BUILT IN 1869, THE CHURCH PROVIDED A HOME TO A LARGELY GERMAN CONGREGATION WHO HAD MET IN EACH OTHER'S HOMES FOR 12 YEARS. FOR MANY YEARS, THE CHURCH WAS AFFILIATED WITH the EVANGELICAL UNITED BRETHERN CHURCH AND THEN THE METHODIST DENOMINATION. BUT IN 2000, IT BECAME A NON-DENOMINATIONAL CHURCH. THE BUILDING HAS NEEDED FIXED-UP OVER THE YEARS, AND DONATIONS AND OFFERINGS HAVE MADE ALL THOSE NEEDS POSSIBLE. OUR THANKS TO JUDY DOMONOSKE FOR SHARING THEIR STORY.

MAILBAG:

JOHN JOINS US NOW FROM HIS OFFICE WITH THIS WEEK'S MAILBAG.

 

  

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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