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AgDay Daily Recap -January 9, 2014

January 9, 2014
 
 

TODAY ON AGDAY

JANUARY 9, 2014

 

HIGH BEEF PRICES:

GOOD MORNING I'M CLINTON GRIFFITHS. LOW NATIONAL SUPPLIES, BAD WEATHER AND SOMEWHAT STEADY DEMAND HAS CATTLE PRICES SURGING TO START THE NEW YEAR.

HELPING DRIVE THOS PRICES HIGHER ARE SUPPLY CONCERNS. THE WINTER STORM AND COLD WEATHER SLOWED WEIGHT GAINS IN FEEDLOT CATTLE. ANIMAL TRANSPORTATION WAS ALSO HEAVILY IMPACTED. THAT HAS PACKERS AND FEEDLOTS PAYING HIGHER PRICES IN ORDER TO SECURE LIVESTOCK. THIS CURRENT PRICE RALLY THAT'S BEEN GOING ON SINCE MID TO LATE DECEMBER.

CORN PRICES:

TOMORROW AT NOON, THE USDA RELEASES A FLURRY OF PRODUCTION REPORTS.
THEY INCLUDE AND FINAL TALLEY OF 2013'S PRODUCTION AND AN ESTIMATE OF WINTER WHEAT ACREAGE.

CHINA SHIPMENTS:

IT'S BEEN A COLD SHOULDER FOR U.S. CORN AND CORN PRODUCTS IN CHINA. THAT COUNTRY HAS TURNED AWAY 2-THOUSAND TONES OF DDGS SINCE DECEMBER AND 600-THOUAND TONS OF US CORN. IT'S SAYS THE SHIPMENTS CONTAINED TRACES OF A GMO TRAIT NOT APPROVED IN CHINA. NOW THERE'S INDICATION THOSE SANCATIONS MAY BE RELAXING-- THIS WEEK CARGOS ARE STARTING TO FIND THEIR WAY IN...NOW 40-50 PERCENT PASSING INSPECTION. A U.S. GRAINS COUNCIL DELEGATION IS ALSO IN CHINA TRYING TO RESOLVE THE ISSUE.

CROP WATCH:

THE FRIGID TEMPS MAKE IT TOUGH FOR DAIRY PRODUCERS. CINDI CLAWSON HAS DETAILS THIS MORNING FROM THE AGDAY WEATHER-CENTER.

TAMING MOTHER NATURE:

IT'S OUR FINAL DAY OF OUR TAMING MOTHER NATURE SERIES. AND TODAY, IT'S ALL ABOUT LONG-RANGE FORECASTS. AS NATIONAL REPORTER TYNE MORGAN TELLS US, LONG-RANGE FORECASTS CAN BE TRICKY. BUT THERE'S A GLIMMER OF HOPE FOR SOME FARMERS and RANCHERS DESPARATE FOR RAIN AT THE END OF THE YEAR.

MONSANTO EARNINGS:

AND SEED GIANT MONSANTO ROLLED OUT IT'S FISCAL FIRST QUARTER NUMBERS. NET INCOME ROSE NEARLY 9 PERCENT YEAR OVER YEAR WITH REVENUES TOPPING 3 BILLION DOLLARS. SALES OF CORN IN THE QUARTER WERE DOWN ABOUT 7 AND A HALF PERCENT, WHILE SOYBEAN SEEDS SURGED--UP ALMOST 16 PERCENT.

ANALYSIS:

WHILE LOWER FEED COSTS MAY BE ENCOURAGING AN INCREASE IN PORK PRODUCTION, ADDING TO THE HERD IN 2014 MAY BE A CHALLENGE. PORCINE EPIDEMIC DIAREAH VIRUS IS ALREADY TAKING A TOLL ON PIGGLETS.  AND AS FARM DIRECTOR AL PELL DISCUSSSES IN THIS MORNING'S ANALYSIS, IT COULD HAVE A RIPPLE EFFECT ACROSS THE INDUSTRY.

TEXAS WINNERS:

THE AMERICAN FARM BUREAU FEDERATION WILL HOLD ITS ANNUAL CONVENTION NEXT WEEK. SOME OF THE YOUNG FARMERS, RANCHERS AND EDUCATORS WHO ARE THE NEXT GENERATION OF AGRICUTURE WILL BE HONORED. IN ADVANCE OF THE NATIONAL EVENT, THE TEXAS FARM BUREAU RECOGNIZED SOME OF ITS BEST AND BRIGHTEST. ED WOLFF TELLS US ABOUT A YOUNG TEACHING COUPLE WHO WORKS HARD ADVOCATING FOR AGRICULTURE IN THE CLASSROOM.

ALCOHOL CONSUMPTION:

A NEW REPORT OUT FROM THE CDC SHOWS MILLIONS OF AMERICAN MAY BE DRINKING TOO MUCH ALCOHOL.

BUTTER CONSUMPTION:

PASS THE BUTTER. IT LOOKS LIKE AMERICAN ARE BACK IN LOVE WITH THE DAIRY STANDARD.
THE LATEST STATISTICS FROM 2012 SHOW BUTTER CONSUMPTION NOW AT A 40 YEAR HIGH.
AMERICANS NOW EATING 5 POINT 6 POUNDS OF BUTTER PER CAPITA--UP SOME 25 PERCENT SINCE THE LOW IN 1997. EXPERTS SAY, A RETURN TO MORE NATURAL PRODUCTS ARE HELPING SALES.

VELVEETA SHORTAGE:

AND IN THE SAY IT AINT SO FILE, WORD ON THE STREET, THERE MAY BE A SHORTAGE OF VELVEETA CHEESE. SOME STORES SAYING THEY HAVEN'T SEEN SHIPMENTS SINCE LAST FALL. THE ALLEGED SHORTAGE COMES RIGHT DURING CHEESE DIP SEASON--WITH MANY BIG SPORTING EVENTS INCLUDING THE SUPER BOWL STILL TO BE PLAYED.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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