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AgDay Daily Recap -May 23, 2013

May 23, 2013
 
 

TODAY ON AGDAY

MAY 23, 2013

 

BERNANKE:

GOOD MORNING I'M TYNE MORGAN IN FOR CLINTON GRIFFITHS. DON'T LOOK FOR THE "FED" TO CHANGE ITS STANCE ON THESE HISTORICALLY LOW INTEREST RATES ANYTIME SOON.

FARM BILL:

IT'S NOT A SPRINT, BUT A MARATHON. THAT'S THE REMINDER AGRICULTURAL GROUPS ARE GIVING AS SIGNALS COMING FROM THE SENATE INDICATE THE FARM BILL WON'T LIKELY BE PASSED UNTIL AFTER THEIR MEMORIAL DAY RECESS.

IMMIGRATION REFORM:

MEANWHILE, THE SEANTE JUDICIARY COMMITTEE FINSIHED MARK-UP OF ITS IMMIGRATION REFORM BILL. IT CLEARED WITH A 13 TO 5 VOTE AND IS EXPECTED TO MAKE ITS WAY TO THE FULL SENATE EARLY NEXT MONTH. PRESIDENT OBAMA APPROVED THEIR BI-PARTISAN EFFORTS.

EASTER LIVESTOCK COMPANY:

TOP EXECUTIVES AT THE NOW-DEFUNCT "EASTERN LIVESTOCK COMPANY" WERE SENTENCED TO PRISON THIS WEEK FOR THEIR ROLES IN A SCHEME THAT COST FARMERS MILLIONS OF DOLLARS. A FEDERAL JUDGE IN LOUISVILLE, KENTUCKY SENTENCED FORMER OWNER THOMAS GIBSON TO 70 MONTHS IN JAIL. AND THE EX-CHIEF OPERATING OFFICER MICHAEL MCDONALD WAS GIVEN 60 MONTHS. THE GOVERNMENT SAYS THE TWO MEN RAN A FRAUDULENT BUSINESS THAT COST 200 CATTLE PRODUCERS MILLIONS OF DOLLARS. PROSECUTORS SAY THE CHECK-KITING SCHEME GROSSLY INFLATED BALANCES IN THE COMPANY'S BANK ACCOUNT WHEN IT WAS SEEKING A LINE OF CREDIT. EASTERN LIVESTOCK WAS ONE OF THE LARGEST CATTLE BROKERAGES IN THE COUNTRY. IT PROCESSED CATTLE SALES IN 11 STATES. IT WAS SHUT DOWN IN 2010.

COOL UPDATE:

TODAY MARKS THE DEADLINE FOR USDA TO RELEASE ITS MODIFICATIONS TO THE 'COUNTRY OF ORIGIN LABELING" LAW. USDA MADE CHANGES TO THE EXISTING U-S LAW AFTER THE WORLD TRADE ORGANIZATION SAID IT VIOLATED TRADE RULES. THE WTO RULED LAST JUNE THAT THE U-S COOL RULES GAVE UNAVORABLE TREATMENT TO CANADA AND MEXICO. COLLIN WOODALL, WHO HANDLES GOVERNMENT AFFAIRS FOR NATIONAL CATTLMEN'S BEEF ASSOCIATION, SAYS ONE OF TWO THINGS WILL HAPPEN TODAY. HE SAYS EITHER THE U-S SUBMITS A NEW RULE AND THE DISPUTES OVER MEETING W-T-O CRITERIA WILL STRIKE UP ONCE AGAIN. OR, HE SAYS IF NOTHING IS SUBMITTED, CANADA AND MEXICO COULD RETALIATE, UTLIMTELY IMPACTING U-S RANCHERS' BOTTOMLINE.

CATTLE SAFETY:

THE GARBAGE TRAIL LEFT BY A TORNADO CAN SPREAD FOR MILES. FARMERS AND RANCHERS IN THE GREAT PLAINS ARE BEING ENCOURAGED TO SCOUT THEIR PASTURES FOR DEBRIS FOLLOWING THE RECENT STORMS. LIVESTOCK SPECIALISTS AT OKLAHOMA STATE SAY PRODUCERS NEED TO INSPECT THEIR FENCES TO MAKE SURE THERE ARE NO GAPS AND NO DEBRIS THAT LIVESTOCK COULD GET TO. THEY SAID ONE OF THE BIGGEST CONCERNS IS FIBERGLASS INSULATION WHICH MAY HAVE BLOWN INTO A PASTURE. THEY WARN IT CAN GET INTO THE DIGESTIVE TRACT.

CROP WATCH:

LET'S GET YOUR FIRST LOOK AT FARM COUNTRY WEATHER ON THIS THURSDAY MORNING. FOR THAT, LET'S CHECK IN WITH MIKE HOFFMAN.

ANALYSIS:

IN AGRIBUSINESS, THE USDA SAID PASTURE AND RANGE CONDITIONS IMPROVE 4 PERCENTAGE POINTS ACROSS THE COUNTRY THIS WEEK. BUT MIKE NORTH WITH FIRST CAPITOL AG SAYS HE'S CONCERNED ABOUT WINTERKILL, AND THE IMPACT IT COULD HAVE ON DAIRIES. AL PELL HAS MORE IN TODAY'S ANALYSIS.

VETS ON CALL:

FARMERS ARE COMMITTED TO RESPONSIBLE CARE FOR THEIR LIVESTOCK ANIMALS BECAUSE A FARM'S SUCCESS DEPENDS ON SUCCESSFULLY RAISING HEALTHY ANIMALS. THAT'S WHERE VETERINARIANS COME INTO THE PICTURE. IN A SPECIAL REPORT WE CALL "VETS ON CALL", WE'RE HEADED TO CENTRAL MISSOURI TO MEET DOCTOR JOHN GROVES. TODAY WE FOLLOW ALONG AS DOCTOR GROVES MAKES AN ON-FARM VISIT TO VACCINATE A HERD OF CALVES AND COWS. HE TAKES PRIDE IN PROVIDING GENTLE CARE TO KEEP THE STRESS LOW ON ANIMALS.

FARM RAISED SALMON:

IN FOOD AND YOUR FAMILY, AS AMERICANS SEARCH FOR HEALTHIER FOODS IN THEIR DIET, SALMON IS GROWING IN POPULARITY. BUT NOW THE QUESTION BECOMES, IS IT JUST AS HEALTHY WHEN BAKED?

BEVERAGE MACHINES:

IF YOU ENJOY A HOME-BREWED CUP OF COFFEE OR SOFT-DRINK, YOU'RE NOT ALONE. THAT INDUSTRY HAS SEEN SUBSTANTIAL GROWTH IN THE PAST YEAR. THE N-P-D GROUP - WHICH STUDIES BUSINESS AND MARKET TRENDS - JUST RELEASED A NEW REPORT ON HOME BEVERAGE APPLIANCES.  IT SHOWS SALES OF HOME SODA MACHINES - OR DO YOU SAY POP - IS UP 147 PERCENT FROM A YEAR AGO. SALES OF BLENDERS, JUICE EXTRACTORS, AND CITRUS JUICERS ARE UP AS WELL. N-P-D SAYS IT'S DUE TO CONSUMER DESIRE TO GET HEALTHY. SINGLE SERVING COFFEE - MY PERSONAL FAVORITE - IS THE LARGEST APPLIANCE SEGMENT AMONG THE HOT BEVERAGE OPTIONS. SALES TOTALLED MORE THAN 900 MILLION DOLLARS OVER THE PAST YEAR. BUT THE GROWTH HAS SLOWED COMPARED TO RECENT YEARS. IT'S UP JUST SEVEN PERCENT FROM A YEAR AGO. DESPITE THE POPULARITY OF THE "K" CUP, TRADITIONAL DRIP COFFEEMAKERS STILL DOMINATE IN UNIT SALES. N-P-D SAYS IT TWO-AND-A-HALF TIMES THAT OF SINGLE SERVE.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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