Aug 29, 2014
Home| Tools| Events| Blogs| Discussions| Sign UpLogin

AgDay Daily Recap -March 11, 2014

March 11, 2014
 
 

TODAY ON AGDAY

MARCH 11, 2014

 

USDA REPORT:

GOOD MORNING I'M CLINTON GRIFFITHS. AN INTERESTING START TO THE MARKETING WEEK FOLLOWING THE RELEASE OF USDA'S MARCH SUPPLY DEMAND REPORT.

HOGS:

MEANWHILE, APRIL LEAN HOGS CLOSED LIMIT UP MONDAY, CONTINUING THE CLIMB FROM LAST WEEK. MEANWHILE APRIL LEAN HOGS SPENT MOST OF THE DAY LIMIT UP...CONTINUING THE CLIMB FROM LAST WEEK. THE PRICE SUPPORT WAS LARGELY DUE TO THE LATEST USDA REPORT, WHICH SHOWED A DECLINING HOG CROP. USDA DROPPED PORK PRODUCTION, BUT INCREASED HOG PRICES DUE. USDA REDUCED ITS PRODUCTION REPORT FORECAST BECAUSE HIGHER CARCASS WEIGHTS STILL COULDN'T OFFSET THE TIGHT SUIPPLIES. BUT THE NEW MARCH NUMBER IS STILL PROJECTED TO BE ABOVE BOTH 2012 AND 2013'S LEVELS. AT THE SAME TIME, USDA DECREASED THE PORK EXPORT NUMBERS.

MILK PRODUCTION:

IN OUR DAIRY TODAY REPORT, THE USDA ALSO RELEASED IT'S MILK PRODUCTION FORECAST FOR 2014. IT LEFT OVER ALL PRODUCTION STEADY BUT RAISED CLASS THREE AND CLASS FOUR PRICES. THE ALL MILK PRICES ARE FORECAST AT 21-40 TO 22 PER HUNDRED. FAT BASIS EXPORTS FOR 2014 ARE RAISED ON HIGHER SALES OF CHEESE AND BUTTER.

DAIRY EXPORTS:

MEANWHILE, THE U-S DAIRY EXPORT COUNCIL SAYS CHEESE EXPORTS POSTED NEW RECORDS FOR THE THIRD STRAIGHT MONTH. IT TOPPED 32 THOUSAND TONS FOR THE FIRST TIME, THANKS TO NEW SALES IN COUNTRIES LIKE AUSTRALIA, CHINA AND EGYPT. ALL U-S DAIRY EXPORTS, INCLUDING POWDER, BUTTERFAT AND WEIGH, ALSO POSTED GAINS. THE TOTAL VALUE CAME IN AT MORE THAN 583 MILLION DOLLARS A 35 PERCENT JUMP FROM THIS TIME LAST YEAR.

DAIRY TODAY:

A CONTROVERSIAL GROWTH HORMONE USED IN DAIRY COWS HAS BEEN UNDER EXTENSIVE EVALUATION IN RECENT YEARS. A NEW STUDY WAS JUST RELEASED ON THE HEALTH EFFECTS OF R-B-S-T. . DAIRY TODAY EDITOR JIM DICKRELL IS HERE WITH THE DETAILS.

NORTH DAKOTA TRAINS:

AS GROWERS START FOCUSING ON WHAT CROPS THEY WILL GROW THIS YEAR, THERE'S PLENTY OF LAST YEAR'S CROP STILL IN THE BIN. IN NORTH DAKOTA THE ENERGY BOOM IS CAUSING MARKETING PROBLEMS FOR FARMERS. KVLY FARM DIRECTOR MICK KJAR REPORTS THAT EVEN WITH A PROMISE FROM THE RAILROAD, LOCAL ELEVATORS ARE HAVING A TOUGH TIME GETTING RAIL CARS TO MOVE GRAIN.

CANADA RAIL:

AS WE TOLD YOU MONDAY, THE PROBLEM IN NORTH DAKOTA IS SIMILAR TO PROBLEMS IN CANADA. THE GOVERNMENT THERE JUST ORDERED ITS TWO BIGGEST RAIL COMPANIES TO INCREASE GRAIN LOADS. THE RAIL LINES ARE REQUIRED TO SHIP AT LEAST 500-THOUSAND METRIC TONS A WEEK...STARTING IMMEDIATELY.

CANADA SOKO TRADE:

ALSO IN CANADA...A FREE TRADE AGREEMENT BETWEEN THAT COUNTRY AND SOUTH KOREA IS INCHING CLOSER TO COMPLETION. TALKS BEGAN IN 2005...AND BOTH SIDES SAY THEY'RE GETTING CLOSE TO SIGNING THE DEAL. THE AGREEMENT WOULD BENEFIT CANADIAN BEEF AND PORK SHIPPERS....WHO ARE WORRIED THE U.S. SOUTH KOREAN F-T-A WILL CONTINUE TO ERRODE THAT MARKET.

CROP WATCH:

THINGS ARE SLOWLY WARMING UP BUT THE WINTER STORMS KEEP COMING. AND THAT'S GOOD NEWS OUT WEST. METEOROLOGIST MIKE HOFFMAN EXPLAINS IN THIS MORNING'S CROP WATCH.

COMMODITIES TRADING:

IN AGRIBUSINESS, COMMODITY DERIVATIVES TRADING IS GAINING IN POPULARITY, JUMPING NEARLY A QUARTER JUST LAST YEAR. AND THE U-S AND CHINA CONTRIBUTED the MOST.

ANALYSIS:

EARLIER IN THE SHOW YOU GOT A GLIMPSE INTO HOW BAD THE RAIL SITUATION IS IN THE NORTH.  ANALYST TOMMY GRASAFI WAS JUST IN THAT SAME AREA. AND TODAY, HE TELLS US WHAT IMPACT THIS COULD CONTINUE TO HAVE ON PRICES.

ICE YATCH:

NO DOUBT IT'S BEEN ONE OF THE COLDEST WINTERS IN DECADES ACROSS A LARGE SWATH OF THE U.S. BECAUSE OF THAT, THRILL SEEKERS IN UPSTATE NEW YORK ARE GETTING TO A CHANCE TO ENJOY A PIECE OF WINTER SPORT HISTORY.  USING ANTIQUE SKI BOATS TO GLIDE ACROSS FROZEN RIVERS AND LAKES AT HIGH SPEED--ICE YATCHS ARE CLIPPING ALONG NEW ENGLAND WATERWAYS. ROBERT BUMSTED WITH THE ASSOCIATED PRESS REPORTS.

FOOD SECURITY:

IN FOOD AND YOUR FAMILY, THE WORLD'S FARMERS HAVE A HUGE TASK IN FRONT OF THEM OVER THE NEXT 30 YEARS. THAT'S BECAUSE FOOD PRODUCTION MUST INCREASE BY 60 PERCENT, OR FOOD SHORTAGES COULD CAUSE WARS AND SOCIAL ISSUES IN DEVELOPING COUNTRIES.

ORANGE PRODUCTION:

ORANGE PRODUCTION TOOK ANOTHER HIT. THAT'S ACCORDING TO THE LATEST USDA REPORT. IT SHOWS ALL ORANGE PRODUCTION SO FAR IS DOWN 12 PERCENT FROM LAST YEAR'S FINAL CROP. LOOKING AT THE MAJOR PRODUCTION STATES, CALIFORNIA'S ALL ORANGE FORECAST ACTUALLY INCREASED FROM THE LAST REPORT.  NAVAL ORANGES IN FLORIDA, HOWEVER, ARE DOWN 21 PERCENT FROM LAST SEASON.

MCDONALDS SALES:

AND A MAJOR FAST FOOD CHAIN SAYS SALES DIPPED IN FEBRUARY, BUT IT WASN'T BECAUSE OF HEALTHIER DIETS. MCDONALDS SAYS THE SLUMP IS DUE TO THE SEVERE WINTER WEATHER. GLOBAL SALES FOR MCDONALDS CAME IN DOWN POINT 3 PERCENT, BUT U-S SALES DROPPED NEARLY 1.5 PERCENT.  THIS FOLLOWS LOWER SALES IN BOTH DECEMBER AND JANUARY. THE U-S IS BY FAR MCDONALD'S BIGGEST MARKET.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

CONTACT:
We'd love to hear from you! Contact us at 800-792-4329. Or drop an email to inbox@agday.com. You can also check us out on Facebook.
 

See Comments

RELATED TOPICS: Daily Recap

 
Log In or Sign Up to comment

COMMENTS

No comments have been posted



Name:

Comments:

Receive the latest news, information and commentary customized for you. Sign up to receive Beef Today's Cattle Drive today!. Interested in the latest prices for cattle in your area? See highlights of the latest for-sale cattle in the Cattle-Exchange eNewsletter.

 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions