Sep 19, 2014
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AgDay Daily Recap -March 19, 2014

March 19, 2014
 
 

TODAY ON AGDAY

MARCH 19, 2014

 

HOGS:

GOOD MORNING I'M CLINTON GRIFFITHS. WITH NO OBVIOUS CURE TO A DEVASTATING SWINE DISEASE, HOG FUTURES SHOW NO SIGN OF EASING.

RECORD PRICES:

HOG MARKETS AREN'T THE ONLY HOT COMMODITY. 2014 IS STILL RELATIVELY YOUNG AND YET A SPATE OF OTHER RECORDS HAVE ALREADY FALLEN THIS YEAR.

FEEDER CATTLE:

CATTLE PRICES REMAIN AT RECORD LEVELS... ALTHOUGH FED CATTLE WERE OFF A BIT IN TUESDAY TRADE. LIVE CATTLE IN THE 140 RANGE WHILE FEEDERS TRADE NEAR AND ABOVE 175...BOTH NEAR RECORD LEVELS. USDA REPORTS INDICATE CULL COW PRICES ARE CLIMBING DUE TO HEAVY CULLING THE LAST FEW YEARS IN DROUGHT STRESSED AREAS OF TEXAS AND THE SOUTHERN PLAINS. ALSO OUT THIS WEEK IS THE USDA'S CATTLE ON FEED REPORT. TRADERS ARE WATCHING PLACEMENT PATTERNS LOOKING FOR EVIDENCE THAT FEW CATTLE ARE HEADED TO FEEDLOTS COMPARED TO A YEAR AGO.  WEATHER IS LIKELY TO ONCE AGAIN BE THE DRIVER IN SPRING PLACEMENTS.

MILK PRICES:

AS WE REPORTED TUESDAY, MILK PRICES IN CHICAGO REMAIN IN RECORD TERRITORY. SURGING U.S. DAIRY EXPORTS ARE WIPING OUT DOMESTIC SUPPLIES. THE U.S. DAIRY EXPORT COUNCIL SAYS JANUARY SALES WERE UP NEARLY 20%...CHEESE SHIPMENTS ARE NEARLY 50 PERCENT HIGHER THAN A YEAR AGO. THE COUNCIL SAYS ROUGHLY 15 PERCENT OF U.S. PRODUCTION IS NOW BEING EXPORTED. MILK PRICES ARE UP ABOUT 20 PERCENT THIS YEAR, INSPITE OF DROPPING BACK A FEW CENTS IN TUESDAY'S TRADE.

COTTON:

MEANWHILE IT'S NOT ALL TIME RECORD TERRITORY BUT COTTON PRICES HAVE RECOVERED AS PLANTING NEARS. NEW CROP COTTON PRICES ARE BACK IN THE 80 CENT RANGE. HELPING DRIVE THOSE PRICES--USDAS RECENT SUPPLY DEMAND REPORT SHOWING INCREASING EXPORTS. ITS ALSO CAUSED U.S. STOCKS TO FALL TO A FOUR YEAR LOW. INDUSTRY WATCHERS EXPECTED THE PRICE RALLY TO ENTICE MORE PRODUCERS INTO BALE CONTRACTS ON A PORTION OF 2014 PRODUCTION....WHICH IS EXPECTED TO HIGHER THIS YEAR.

WHEAT CONDITIONS:

THE WINTER WHEAT CROP IS BREAKING DORMANCY OVER MUCH OF THE CENTRAL PLAINS.
UNFORTUNATELY, IT'S IN DROUGHTY CONDITIONS, SO THE CONDITION RATINGS CONTINUE TO DECLINE.

TENNESSEE BEANS:

EARLY PROJECTIONS THIS YEAR CALL FOR A MUCH BIGGER BEAN CROP IN 2014.  SOME ESTIMATES PUT IT FOUR MILLION MORE ACRES THAN LAST YEAR. IN THE MID-SOUTH, ONE OF THE BIGGEST GROWERS OF SOY IS TENNESSEE, WHERE COTTON IS NO LONGER KING. IN THIS REPORT FROM THE U-T INSTITUTE OF AGRICULTURE, CHUCK DENNEY LOOKS AT THE BIGGER ACRES, THE BETTER VARIETIES, AND THE AGGRESSIVE RESEARCH.

CROP WATCH:

CURRENT CONDITIONS WOULD SEEM TO INDICATE THAT FARMERS IN THE EASTERN CORNBELT COULD BE GETTING A DELAYED START THIS SPRING. BUT WARMER CONDITIONS THIS WEEK COULD CHANGE THAT.

ANALYSIS:

IN AGRIBUSINESS SOYBEANS RALLIED TUESDAY. MAY CONTRACTS CLIMBING BACK ABOVE 14 WHILE NOVEMBER BEANS ARE CLOSING IN ON 12 DOLLARS PER BUSHEL. WHILE SOME ANALYSTS HAVE BEEN BEARISH THE SOYBEAN MARKET DUE TO THE LARGE CROP BEING HARVESTED IN SOUTH AMERICA, FARM DIRECTOR AL PELL SPOKE TO ONE WHO THINKS WE'RE IN THE MIDST OF A BULL RUN.

WATER BARRELS:

THE CONCEPT ISN'T NEW - HOOK-UP A BARREL TO YOUR GUTTERS AND COLLECT RAINWATER WHICH CAN BE USED IN YOUR GARDEN. BUT IN A STATE LIKE CALIFORNIA - WHICH IS IN ITS THIRD YEAR OF A DROUGHT - THIS PRACTICE IS BECOMING ESSENTIAL AND COMMONPLACE. AND AS RAQUEL-MARIA-DILLON REPORTS, IT'S NOT ONLY HOMEOWNERS USING THIS TECHNIQUE TO WATER THEIR GARDENS AND LANDSCAPES.

SNACKS:

IN FOOD AND YOUR FAMILY - DO YOU FIND YOURSELF SNACKING MORE OFTEN? MANY FOLKS ARE. NEW DATA FROM THE FOOD MARKET RESEARCH FIRM 'TECHNOMIC" SAYS SNACK CONSUMPTION IS ON THE RISE.

CHERRY PRODUCTION:

THERE'S MIXED NEWS WHEN IT COMES TO LAST YEARS CHERRY CROP IN THE U-S. USDA RELEASED ITS PRELIMINARY ESTIMATES FOR BOTH SWEET AND TART CHERRIES FOR THE 2013 CROP SEASON. THE U-S SWEET CHERRY CROP WAS DOWN 22%  FROM THE PREVIOUS YEAR. MUCH OF THAT CROP IS GROWN IN THE NORTHWEST WHICH EXPERIENCED COLD, BLUSTERY WEATHER DURING THE EARLY PART OF THE BLOOM. AND THEN, HEAVY RAINS IN JUNE AND JULY CAUSED SPLITTING OF THE FRUIT, WHICH MADE IT UN-MARKETABLE.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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