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AgDay Daily Recap -June 7, 2013

June 7, 2013
 
 

TODAY ON AGDAY

JUNE 7, 2013

 

PORK DISEASE:

GOOD MORNING I'M CLINTON GRIFFITHS. PORK PRODUCERS ARE FACING A NEW HEALTH THREAT FROM A DISEASE THAT'S NEVER BEFORE BEEN FOUND IN U.S. HERDS.

SMITHFIELD:

SMITHFIELD'S SALE TO CHINESE FIRM SCHUNG-WAY INTERNATIONAL HOLDINGS WAS IN THE WORKS FOR SEVEN YEARS. THAT ACCORDING TO A WALLSTREET JOURNAL INTERVIEW WITH JOSEPH LUTER THE THIRD--CHAIRMAN OF SMITHFIELD. HIS FATHER AND GRANDFATHER CO-FOUNDED THE MEATPACKER BACK IN 1936. IN OTHER SMITHFIELD NEWS, THE COMPANY SAYS HALF OF ITS HOGS ARE NOW RAISED WITHOUT THE FEED ADDITIVE, RACTOPAMINE. THAT ADDITIVE HAS BEEN BANNED IN CHINA AND RUSSIA. CHINA BOUGHT 800-MILLION DOLLARS OF U-S PORK LAST YEAR. IT WANTS U-S PORK TO BE VERIFIED FROM A THIRD PARTY THAT IT'S FREE OF THE ADDITIVE THAT PROMOTES LEAN MUSCLE GROWTH. RUSSIA - WHICH WAS A BIG IMPORTER - BANNED IMPORTS OF MEAT FROM THE UNITED STATES BLAMING IT ON THE PRESENCE OF THE FOOD ADDITIVE.

RULING:

THERE'S A NEW DEAL ON THE TABLE THAT COULD IMPACT CONFINED ANIMAL FEEDING OPERATIONS NEAR THE CHESAPEAKE BAY. THE CHESAPEAKE BAY FOUNDATION AND THE ENVIRONMENTAL PROTECTION AGENCY HAVE REACHED A NEW AGREEMENT TO REDUCE POLLUTION FROM 'CAFOS'.

DRILLING PUBLIC LANDS:

COMPANIES THAT DRILL FOR OIL AND NATURAL GAS ON PUBLIC LANDS - AND THEIR OPPONENTS - HAVE AN ADDITIONAL TWO MONTHS TO COMMENT ON A NEW RULE WHICH WOULD REGULATE HYDRAULIC FRACTURING - OR FRACKING.  IT'S A TECHNIQUE USED TO INJECT HIGH PRESSURE WATER AND SAND TO EXTRACT CRUDE OIL. THE NEW RULE WOULD REQUIRE COMPANIES FOR THE FIRST TIME TO DISCLOSE THE CHEMICALS USED IN FRACKING OPERATIONS AND HOW THEY DISPOSE OF WASTEWATER. THE INTERIOR DEPARTMENT ANNOUNCED THE EXTENSION AFTER INDUSTRY AND ENVIRONMENTAL GROUPS SAY THEY NEEDED MORE TIME TO REVIEW THE PROPOSED FRACKING RULE.

OIL PRODUCTION:

AND YOU CAN'T TELL IT BY PRICES AT THE PUMP, BUT U.S. CRUDE PRODUCTION HAS EXCEEDED IMPORTS FOR THE FIRST TIME SINCE 1997. THE LAST WEEK OF MAY, THE U.S. PUMPED OUT 7.3 MILLION BARRELS PER DAY. RISING OUTPUT FROM SHALE AND OTHER NON-CONVENTIAL SOURCES IS HELPING REVERSE A DECADES LONG DECLINE IN U.S. PRODUCTION. AND THAT'S LOWERING THE AMOUNT OF FOREIGN OIL REFINERIES NEED TO BUY.

FARM BILL:

BY A VOTE OF 75 TO 22 THE SENATE HAS AGREED TO END DEBATE ON THE FARM BILL. THE MEASURE NEEDED AT LEAST 60 VOTES TO PASS. NOW ITS ON A VOTE ON THE FINAL BILL.
THAT'S LIKELY TO HAPPEN NEXT MONDAY.

CROP WATCH:

WASHINGTON ISN'T THE ONLY PLACE YOU NEED TALL BOOTS. OUR OWN METEROROLOGIST MIKE HOFFMAN JOINS US FROM THE AGDAY WEATHER LAB FOR OUR FIRST LOOK AT FARM COUNTRY WEATHER. GOOD MORNING MIKE.

PROFIT BRIEFING:

LIVESTOCK PRODUCERS ARE WATCHING CORN AND SOYBEAN FARMERS CLOSELY THIS YEAR, HOPING FOR A BIG CROP. MEANWHILE MANY PRODUCERS ARE HOPING FOR THAT AND HIGH PRICES. SO WHAT'S DRIVING MARKETS THE NEXT COUPLE OF WEEKS, THAT'S THE TOPIC OF TODAY'S PROFARM PROFIT BRIEFING. PROFARMER EDITOR CHIP FLORY AND SENIOR MARKET ANALYST BRIAN GRETE JOIN US FROM THE PRO FARMER STUDIOS WITH THIS WEEK'S PROFIT BRIEFING.

TEXAS DEMOLITION CREW:

AFTER A DEADLY FERTILIZER PLANT EXPLOSION DESTROYED DOZENS OF HOMES IN A TEXAS TOWN, MANY HOMEOWNERS ARE REBUILDING. AS THE AP'S JOHN MONE EXPLAINS, THEIR INSURANCE ISN'T COVERING EVERYTHING, SO ONE LOCAL CHURCH IS DOING SOME HEAVY LIFTING.  CALL IT THEIR MISSION TO REBUILD.

FROM THE FARM RECIPE:

IT'S TIME NOW FOR OUR WEEKLY FROM THE FARM FAVORITE RECIPE OF THE WEEK.
TODAY IT COMES FROM CARLA MARIE STROH ZUMMALLEN. SHE IS ONE OF OUR FACEBOOK FRIENDS.

TENDERIZED BEEF:

AND FOR THOSE COOKING THE MAIN COURSE, THE USDA IS CONSIDERING A NEW FOOD SAFETY LABEL.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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