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AgDay Daily Recap -May 15, 2014

May 15, 2014
 
 

TODAY ON AGDAY

MAY 14, 2014

 

DRONE FUTURE:

GOOD MORNING I'M CLINTON GRIFFITHS. FEDERAL AVIATION AUTHORITIES APPEAR READY TO SPEED-UP THE PROCESS THAT WOULD ALLOW FARMERS TO LEGALLY FLY DRONES OVER THEIR FARMING OPERATIONS.

BIODIESEL:

WITH UNCERTAINTY OVER THE RENEWABLE FUELS STANDARD, SOME BIODIESEL PRODUCERS ARE TAKING A CAUTIOUS APPROACH TO BUSINESS. AS WE'VE BEEN REPORTING, THE ENVIRONMENTAL PROTECTION AGENCY IS EXPECTED TO ANNOUNCE IN THE NEXT FEW WEEKS IF IT WILL LOWER THE REQUIRED LEVELS OF ETHANOL AND BIODIESEL THAT MUST BE BLENDED INTO THE NATION'S FUEL SUPPLY.

RFS:

DURING A MEETING LAST WEEK IN WASHINGTON WITH FARM BROADCASTERS, EPA ADMINISTRATOR GINA MCCARTHY SEEMED TO EXPRESS CONCERN OVER HOW THE R-F-S HAS HELPED CORN GROWERS BY BOLSTERING PRICES. TODD GLEASON FROM THE UNIVERSITY OF ILLINOIS WAS THERE.

CROP WATCH:

FROM POTATO COUNTRY IN THE NORTHEAST TO TOBACCO ROAD IN THE SOUTHEAST. MIKE HOFFMAN HAS YOUR THURSDAY MORNIGN CROPWATCH. GOOD MORNING MIKE.

HAY STOCKS:

IN OUR BEEF TODAY REPORT, THE LASTEST USDA NUMBERS SHOW THERE'S MORE HAY STORED ON THE NATION'S FARMS THIS YEAR. THE ALL HAY STOCKS REPORT SHOWS MORE THAN 19 MILLION TONS.  THAT'S UP 5 TON FROM LAST YEAR'S MAY REPORT. BUT STILL THE THIRD LOWEST SINCE 1989. FOR DROUGHT STRICKEN CALIFORNIA HAY STOCKS ARE RECORD LOW--LESS THAN HALF LAST YEAR'S SUPPLIES. MINNESOTA ALSO AT RECORD LOW STOCKS FOLLOWING ITS BITTERLY COLD WINTER.

BRAZILIAN BEEF:

FOLLOWING A SECOND CASE OF A-TYPICAL BSE IN BRAZIL BOTH EGYPT AND PERU ARE IMPOSING BANS ON BEEF FROM THAT COUNTRY. BRAZIL SAYS THE CASES ARE NOT LINKED TO CONTAMINATED FEED AND ONE 12 YEAR OLD COW LIVED EXCLUSIVELY ON A GRASS-FED DIET. PERU IS BANNING ALL BRAZILAN BEEF, WHILE EGYPT IS STOPPING SHIPMENTS FROM MATO GROSSO. MEANWHILE THESE RECENT BSE CASES HAVE THE NATIONAL FARMERS UNION AND US CATTLEMEN'S ASSOCIAITON REQUESTING USDA WITHDRAW A PROPOSAL THAT WOULD RELAX IMPORT RESTRICTS ON ANIMAL PRODUCTS FROM BRAZIL. THE GROUPS SENT A LETTER TO AG SECRETARY VILSACK. IT SAYS NOW IT'S NOT JUST ABOUT DANGERS FROM FOOT AND MOUTH--THESE LATEST B-S-E CASES INCREASE THE DANGERS TO OUR OWN HERD.

DEERE PROFITS:

JOHN DEERE POSTING EARNINGS WEDNESDAY, SHOWS SOME GRIM NEWS FOR THE COMPANY'S FULL YEAR OUTLOOK. THE COMPANY'S SECOND QUARTER REVENUE FELL 9 AND A HALF PERCENT, DUE TO SLOWING EQUIPMENT SALES. AMONG THE BARRIERS FOR INCREASING SALES IS THE CRISIS IN UKRAINE...WHICH WILL HURT SALES THERE AND IN RUSSIA. DEERE TOOK ANOTHER HIT IN TRACTOR AND HARVESTER SALES, DOWN 12 PERCENT ON the QUARTER. JOHN DEERE SAYS BIG COST CUTTING AND LOWER-THAN EXPECTED TAX RATES HELP OFFSET SOME OF THOSE LOSSES.

CANADA TRACTORS:

MEANWHILE, CANADIAN TRACTOR SALES ARE ALSO STRUGGING. THAT'S ACCORDING TO THE ASSOCIATION OF EQUIPMENT MANUFACTURERS  ALL TRACTOR SALES DIPPED 8 PERCENT IN APRIL FROM THE PREVIOUS MONTH. FOUR-WHEEL DRIVE TRACTORS TOOK THE BIGGEST HIT, WITH SALES DOWN 27 PERCENT ON THE MONTH.

ANALYSIS:

NEW CROP CORN PRICES HAVE DROPPED ABOUT 20 CENTS SINCE LAST THURSDAY. WITH DECEMBER CONTRACTS TRADING IN THE 4-88 RANGE WEDNESDAY. LATE LAST WEEK, FARM DIRECTOR AL PELL TOOK A LOOK AT CORN PRICES AND ASKED FOR SUGGESTIONS IN MANAGING NEW CROP PRICES.

PROFESSOR DUMPSTER:

YOU MAY HAVE SEEN A HOME IN DISARRAY AND CALL IT A "DUMP".  A UNIVERSITY PROFESSOR IN TEXAS IS ACTUALLY LIVING IN A DUMP, OR MORE PRECISELY A DUMPSTER TO PROVE A POINT ABOUT SUSTAINABLE LIVING. JEFF WILSON, AKA 'PROFESSOR DUMPSTER' LIVES IN A SPACE HE SAYS IS ONE-PERCENT THE SIZE OF THE AVERAGE AMERICAN HOME.
JILL CRAIG HAS DETAILS FROM AUSTIN.

USDA GOATS:

WITH ONLY ABOUT TWO MILLION GOATS CONSUMED EACH YEAR IN THIS COUNTRY, GOAT MEAT IS CONSIDERABLY BEHIND BEEF, PORK AND POULTRY. BUT GLOBALLY, CONSUMPTION OF GOAT MEAT IS MUCH HIGHER. USDA'S AGRICULTURAL RESEARCH SERVICE IS ADDRESSING HUNGER PROBLEMS IN THE THIRD WORLD BY PRODUCING MORE GOATS FOR MEAT. USDA'S BOB ELLISON HAS MORE.

 

 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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