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AgDay Daily Recap -May 30, 2013

May 30, 2013
 
 

TODAY ON AGDAY

MAY 30, 2013

 

SMITHFIELD SALE:

GOOD MORNING I'M CLINTON GRIFFITHS. IT COULD BE THE LARGEST CHINESE TAKEOVER OF A U-S COMPANY EVER. WEDNESDAY SMITHFIELD FOODS ANNOUNCING IT'S BEEN SOLD TO A CHINESE FIRM. THE FOLKS OVER AT THE NATIONAL PORK PRODUCERS COUNCIL SAID THIS..QUOTING NOW, "WE HAVE NO COMMENT ON TE SALE OF SMITHFIELD TO SHUANGHUI INTERNATIONAL. BUT THIS DOES HAVE THE POTENTIAL TO INCREASE U.S. PORK EXPORTS TO CHINA, WHICH WOULD BENEFIT ALL U.S. PORK PRODUCERS.

GMO WHEAT:

THE AG DEPARTMENT SAYS IT'S INVESTIGATING HOW A STRAIN OF GENETICALLY ENGINEERED WINTER WHEAT - THAT WAS NEVER APPROVED FOR U.S. SALE OR CONSUMPTION - WAS FOUND GROWING ON A FARM IN OREGON. MONSANTO DEVELOPED THE GLYPHOSATE RESISTANT G-E WHEAT YEARS AGO, BUT IT WAS NEVER COMMERCIALIZED. THE COMPANY WAS AUTHORIZED TO FIELD TEST THE SEED FROM 1998 TO 2005.

BEEF RISKS STATUS:

IN OUR BEEF TODAY REPORT, THE UNITED STATES CATTLE INDUSTRY IS IN BETTER STANDING WITH THE WORLD ORGANIZATION FOR ANIMAL HEALTH. O-I-E HAS RAISED THE U.S. RISK CLASSIFICATION FOR BOVINE SPONGIFORM ENCEPALOPATHY--OR B-S-E-- TO THE NEGLIGIBLE RISK STATUS. THE NATIONAL CATTLEMEN'S BEEF ASSOCIAITON SAYS IT'S A TESTIMENT TO AMERICA'S SAFTEY MEASURES AND SHOULD HELP INCREASE BEEF EXPORTS.

CATTLE MARKETS:

IN OUR BEEF TODAY REPORT, BEEF PRICES CONTINUE TO HANG STRONG. BOXED BEEF IS SELLING IN THE 210-DOLLARS PER HUNDRED RANGE WHICH IS PUSHING RETAIL PRICES HIGHER. FOR CATTLEMEN, THOSE HIGH BEEF PRICES ARE HOLDING FEEDER CATTLE DOWN.  ANALYSTS SAY RIGHT IT LOOKS AS IF CORN WILL BE THE DETERMINING FACTOR.

NEW MEXICO RANCHER:

OUT IN NEW MEXICO THE DROUGHT CONTINUES TO INTENSIFY. IT'S GETTING HARDER TO KEEP ANIMALS FED. NEW MEXICO AUTHORITIES TOLD A LOCAL CBS STATION THEY'RE INVESTIGATING A MAN WHO APPARENTLY WALKED AWAY FROM MORE THAN 1000 HEAD OF CATTLE ON A RANCH NEAR FORT SUMNER. AT LEAST 25 WERE FOUND DEAD ON THE DESERTED PROPERTY. THE NEW MEXICO LIVESTOCK BOARD HAS BROUGHT IN HAY TO FEED THE ANIMALS. THE OWNER STILL HASN'T BEEN LOCATED.

CROP WATCH:

IN CROPWATCH THIS MORNING, SEVERE WEATHER CONTINUES TO PLAGUE MANY AREAS OF THE COUNTRY. IN FACT OUR TYNE MORGAN HAD TO TAKE SHELT IN AMARILLO TEXAS TUESDAY NIGHT BECAUSE OF TORNADOS AND LARGE HAIL. ONCE THE STORM PASSED, THIS IS WHAT SHE FOUND. THAT HAIL ALSO DAMAGED MANY OF THE CARS IN THE AREA. MIKE HOFFMAN HAS MORE ON THE WEATHER AND HOW ITS AFFECTING CROPS IN THIS MORNING'S CROP WATCH. WE'LL BEGIN IN WARD COUNTY, NORTH DAKOTA. A FARMER POSTED ON AGWEB RAIN HAS STARTED THE 16TH OF MAY AND HAS NOT LET UP. EVERY MORNING IT IS FOGGY AND RAINING. IT HAS BEEN CLOUDY AND NO SUNSHINE. CROPS THAT 'ARE' PLANTED LOOK VERY POOR. NO FIELD WORK HAS PROGRESSED SINCE MID-MAY. IN HAMILTON COUNTY, OHIO, ONE FARMER TOLD US HIS SOYBEANS AND MOST OF CORN IS IN. BUT JUST A FEW MILES WEST - CLOSER TO INDIANA -HE SAYS THEY'VE HAD SO MUCH RAIN THAT THEY  AREN'T PLANTED YET. OUTSIDE THE CORN BELT, THE NASS OFFICE IN MONTANA SAYS WINTER WHEAT HAS ENTERED BOOT STAGE SLIGHTLY BEHIND LAST YEAR AND THE 5 YEAR AVERAGE. RAIN HAS HELPED TO ALLEVIATE DROUGHT CONDITIONS IN SOME PARTS OF THE STATE. 60-PERCENT IS GOOD OR BETTER.

ANALYSIS:

SOYBEAN MARKETS WERE DOWN WEDNESDAY FOLLOWING USDA CONFIRMATION THAT CHINA CONCELLED AN OLD CROP EXPORT CONTRACT WORTH 147-THOUSAND METRIC TONS.
THE ASIAN GIANT CONTINUES TO INFLUNCE GLOBAL MARKETS IN A BIG. IN ANALYSIS THIS MORNING AL PELL DISCUSSES WHAT IT MEANS FOR AMERICAN FARMERS AND MARKETS HERE IN THE STATES.

HEALTHY FORESTS:

THE STATE OF TENNESSEE HAS MORE THAN 14 MNILLION ACRES OF FORESTS. UT EXTENSION AND STATE FORESTRY LEADERS ARE WORKING WITH LANDOWNERS TO TAKE CARE OF THEIR TIMBER, SO FUTURE GENERATIONS CAN USE AND ENJOY IT. CHUCK DENNEY HAS MORE ON SMART FOREST MANAGEMENT IN THIS STORY FROM THE U-T INSTITUTE OF AGRICULTURE. HE SAYS FORESTRY EXPERTS THINK TENNESSEE COULD LOSE MNORE THAN ONE MILLION ACRES OF FORESTS BY 2050 IF CURRENT URBANIZATION CONTINUES.

WOMEN BREADWINNERS:

IN FOOD AND YOUR FAMILY - A RECORD NUMBER OF AMERICAN WOMEN ARE NOW THE SOLE OR PRIMARY BREADWINNERS IN THEIR FAMILIES. A NEW STUDY FROM THE PEW RESEARCH CENTER FINDS THAT MOTHERS NOW KEEP FINANCES AFLOAT IN FOUR-OUT-OF TEN OF HOUSEHOLDS WITH CHILDREN.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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