Apr 17, 2014
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THIS WEEK ON U.S. FARM REPORT

EPISODE # 2061

FEBRUARY 9-10, 2013  

 

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. IN A LITTLE-NOTICED HEADLINE LAST WEEK, MILESTONE FOR ENERGY IN THE U-S WAS PASSED WHEN OIL FROM THE NORTH DAKOTA BAKKEN FIELD REACHED EAST COAST REEFINERIES FOR THE FIRST TIME. THE BIGGEST PROBLEM WITH THE GUSHER IN THE HIGH PLAINS HAS BEEN GETTING IT TO CONSUMERS. SINCE LAYING A NEW PIPELINE TAKES A LONG TIME, EVEN WHEN OPPOSTION FROM AFFECTED FARMERS AND OTHERS CAN BE OVERCOME, THE RAILROADS HAVE JUMPED AT THE CHANCE TO HAUL THE OIL. JUST IN TIME TOO, AS NATURAL GAS IS DEVASTATING EASTBOUND COAL SHIPMENTS. FARMERS WILL NEED TO PAY ATTENTION TO HOW THIS RAPID SHIFT IMPACTS THE GROWING GRAIN PRODUCTION IN THE HIGH PLAINS. TIME NOW FOR THE HEADLINES.....HERE'S TYNE MORGAN.

USDA S&D REPORT:

THANK YOU JOHN. THE FEBRUARY SUPPLY-DEMAND REPORT IS TYPICALLY NOT A BIG MARKET MOVER. WE'LL HAVE ANALYSIS IN A MOMENT, BUT FIRST LET'S LOOK AT THE NUMBERS.

ROUNDTABLE:

WE'RE OFF TO KANSAS CITY AS OUR ROUND-TABLE GATHERS AT THE AG CONNECT EXPO.

JOHN’S WORLD:

LAST WEEK I TALKED ABOUT A SURVEY THAT SHOWED STUNNED ECONOMISTS HOW FARM PUBLIC UNDERSTANDING AND THEIRS DIVERGED ON ECONOMIC ISSUES. ONE REASON THIS OCCURS IS WE ARE ALL ECONOMIC ACTORS AND WE USE OUR OWN EXPERIENCE IN THE MARKET TO FORM OUR UNDERSTANDING, REGARDLESS OF ECONOMIC THEORY OR EVEN REAL DATA TO THE CONTRARY. NO ISSUE SHOWS THIS HABIT MORE THAN OUR UNDERSTANDING OF THE NATIONAL DEBT. SOVEREIGN DEBT AS IT IS CALLED, IS COMPLEX AND WITH GROWING GLOBAL INTERLINKAGES, BECOMES MORE COUNTER-INTUITIVE EVERY DAY. OUR MINDS TAKE A SHORT CUT BY FINDING PARALLELS WITH ECONOMIC MODELS WE UNDERSTAND, LIKE HOUSEHOLD FINANCES TO TRY TO UNDERSTAND. "I HAVE TO BALANCE MY BUDGET, SO THE COUNTRY SHOULD TOO", WE ASSERT LOGICALLY. BUT IS THE U-S BUDGET REALLY LIKE A HOUSEHOLD BUDGET. MAYBE, BUT THERE ARE WHOPPING DIFFERENCES. FIRST OF ALL, THE U-S HAS A WORKING LIFETIME OF ESSENTIALLY FOREVER. THE GOVERNMENT CANNOT LOSE ITS JOB, AND CAN EVEN FIX ITS INCOME BY VARYING TAXES. BUT THE BIGGEST DIFFERENCE IS WE CAN PAYOFF DEBTS WITH I-O-U-S CALLED BONDS, THAT PEOPLE AROUND THE WORLD EAGERLY TAKE. THOSE ENORMOUS DIFFERENCES ARE WHY NATIONAL DEBT MYSTIFIES US, AND WHY LOW INTEREST RATERS AND INFLATION CONFOUND OUR PREDICTIONS. TO BE SURE WE HAVE A SERIOUS LONG TERM DEBT PROBLEM, BUT IT CANNOT BE UNDERSTOOD BY EQUATING IT TO A HOUSEHOLD BUDGET. IN FACT, ONCE WE GET SERIOUS ABOUT HOW TO CONTROL HEALTH CARE COSTS, OUR ECONOMIC FUTURE LOOKS PROMISING.

2ND HALF

JOHN’S OPEN:

HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. TODAY WE HAVE A STORY ABOUT THE POST OFFICE, AND FOR MANY IN RURAL AMERICA IT MAY NOT BE HAPPY NEWS. IT IS A TOPIC THAT HAS POPPED UP OFTEN IN OUR COMMUNITY. WE'D LIKE TO DELIVER OUR CHURCH NEWSLETTER BY E-MAIL, FOR EXAMPLE. IT IS FAR CHEAPER, IT LOOKS BETTER, AND IS FAR MORE TIMELY. MEANWHILE JAN'S MASTER GARDENER GROUP LIKES TO MUSE E-MAIL TO ARRANGE MEETINGS. BUT THERE ARE FOLKS WHO JUST DON'T LIKE THE INTERNET. NO ONE WANTS TO EXCLUDE THESE FOLKS, BUT JUST LIKE HAPPENED WITH TELEPHONES, THERE IS AN UNAVOIDABLE PENALTY TO BEING THE LAST TO ADAPT. TYNE MORGAN HAS OUR NEWS.

HEADLINES:

THANKS JOHN. WHILE THE NORTHEAST GETS PUMMELED WITH SNOW THIS WEEKEND, THE HEART OF THE COUNTRY CONTINUES TO STRUGGLE WITH DROUGHT. NEW DATA JUST RELEASED BY USDA VERIFIES WHAT MOST OF US ALREADY KNOW - FEWER YOUNG PEOPLE ARE GETTING INTO FARMING. THE FINANCIALLY STRUGGLING U-S POSTAL SERVICE SAYS IT WILL STOP HOME DELIVERY OF MAIL ON SATURDAYS. THE POST OFFICE SAYS BY CUTTING BACK SERVICE, IT WILL SAVE ABOUT TWO BILLION DOLLARS A YEAR.

SUPER BOWL ADS:

COMMERCIALS THAT AIRED DURING THAT BIG FOOTBALL GAME LAST WEEKEND SPURRED A LOT OF WATER-COOLER TALK, ESPECIALLY THOSE THAT WERE DIRECTLY TIED TO AGRICULTURE. A COUPLE OF ADS - ONE FOR A TRUCK MAKER, THE OTHER FOR A BEER MAKER - REALLY SCORED BIG. TYNE MORGAN TAKES A LOOK AT THE PLAY-MAKERS. NEXT WEEK WE'LL MEET A VETERINARIAN WHO'S ON THE FRONTLINES OF HERD HEALTH. BUT THE STORY GOES BEYOND THAT. TAKE A CLOSE LOOK AT HIS FACE. HE WAS A CHILDHOOD MOVIE STAR! YOU'LL NEED TO TUNE-IN NEXT WEEK TO FIND OUT WHICH MOVIE. HERE'S A CLUE - IT'LL BE A "SWEET" SURPRISE.

CATTLEMEN’S CONVENTION:

WINTER TIME IS MEETING TIME FOR MANY AG GROUPS. POLICY IS SET AND POSITIONS ARE STATED. THIS WEEK, THE CATTLE INDUSTRY CAME TOGETHER IN TAMPA. DESPITE DROUGHT AND HIGH FEED COSTS, ATTENDEES TO THE 2013 CATTLEMENS MEETING AND NCBA TRADE SHOW HAVE A FEW THINGS TO BE EXCITED ABOUT. PRICES ARE RELATIVELY GOOD AND DEMAND IS STABLE. AND THAT COULD IMPROVE DRAMATICALLY THANKS TO JAPAN'S RECENT DECISION TO RAISE THE AGE LIMIT FOR IMPORTS. CATTLEMEN SAY THAT COULD BE WORTH A HALF BILLION DOLLARS FROM THE GET GO.

AFBF PRIORITIES:

LAST MONTH IN NASHVILLE DELEGATES WITH THE AMERICAN FARM BUREAU FEDERATION CALLED ON CONGRESS TO ADOPT A FIVE-YEAR FARM PROGRAM WHILE AT THE SAME TIME TIGHTENING THE NATION'S FISCAL POLICIES. AS REGIONAL REPORTER MICHELLE ROOKS TELLS US, IT WAS ONE OF SEVERAL PRIORITIES THE ORGANIZATION IS PUSHING IN 2013.

TRACTOR TALES:

TRACTOR TALES THIS WEEK TAKES US TO SCENIC CENTRAL MONTANA.

CHURCH SALUTE:

TODAY'S COUNTRY CHURCH SALUTE GOES TO THE FIRST CHRISTIAN CHURCH IN GAGE, OKLAHOMA. FOUNDED IN 1902, CHURCH MEMBERS FIRST GATHERED IN A SCHOOL HOUSE - AND THAT'S WHERE THEY REMAINED UNTIL A SANCTUARY WAS BUILT AND OPENED IN 1961.
THEN IN 2003 A FIRE THAT STARTED IN THE ATTIC DESTROYED THE BUILDING, LEADING TO A NEARLY FIVE-YEAR REBUILDING AND RE-MODELING EFFORT. THE HARD WORK PAID OFF IN FEBRUARY 2008 AS THE FIRST SERVICES WERE HELD IN THE NEW SANCTUARY. TODAY THE CONGREGATION IS LED BY THE REVEREND NANCY TAYLOR WOODS.  OUR THANKS TO WANDA BOYLES FOR TELLING US ABOUT THE FIRST CHRISTIAN CHURCH OF GAGE, OKLAHOMA - SHE'S BEEN ATTENDING THERE SINCE 1950.

MAILBAG:

TIME NOW FOR OUR WEEKLY LOOK INSIDE THE FARM REPORT MAILBAG. MY COMMENTS ABOUT NEVER LEAVING HOME STRUCK A NERVE WITH ONE VIEWER:

 

As always, we want to hear from you, send comments to mailbag@usfarmreport.com or leave us a voice mail at 800-792-4329.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

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