AgDay Daily Recap - April 7, 2016

April 7, 2016 02:57 AM
 

TODAY ON AGDAY
APRIL 7, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -THE LARGEST GROCER JOINS THE CAGE-FREE MOVEMENT. WHEAT FARMERS GROW ANXIOUS AS A COLD BLAST HITS THE WHEAT BELT. ANALYZING THE CATTLE MARKET. Q-1 IS IN THE BOOKS-WHAT'S NEXT? AND TEACHING YOUTH ABOUT SAFETY ON THE RANGE.
MAIN STREAM GROCERS GOING CAGE FREE:
GOOD MORNING I'M BETSY JIBBEN. THERE'S BEEN AN ON-SLAUGHT IN RECENT  WEEKS OF FOOD COMPANIES ANNOUNCING THEIR PLANS TO GO "CAGE FREE" WITH EGGS. BUT NOW THE "500 POUND GORILLA" HAS TIPPED THE SCALES. WALMART ANNOUNCED THIS WEEK IT WILL SELL ONLY CAGE FREE EGGS IN THE U-S BY THE YEAR 2025. WALMART IS THE WORLD'S LARGEST GROCER. THIS NEW POLICY INCLUDES THE SAM'S CLUB LOCATIONS. FORBES MAGAZINE SAYS WALMART ACCOUNTS FOR 25-PERCENT OF ALL GROCERY SALES IN THIS COUNTRY. SO WALMART'S DECISION HAS A BIG IMPACT ON EGG PRODUCERS. THE COMPANY WEBSITE SHOWS SOME OF THE KEY POINTS TO THEIR PLAN.
GUIDELINES ESTABLISHED TO HELP TRANSITION:
IT INCLUDES A TRANSITION TO A 100 PERCENT CAGE-FREE EGG SUPPLY CHAIN, BASED ON AVAILABLE SUPPLY, AFFORDABILITY AND CUSTOMER DEMAND BY 2025. THE MEGA STORE WILL REQUIRE 100 PERCENT OF SHELL EGG SUPPLIERS TO BE CERTIFIED AND FULLY COMPLIANT WITH UNITED EGG PRODUCERS ANIMAL HUSBANDRY GUIDELINES. THERE'LL BE AN ANNUAL CHECK ON COMPLIANCE.
AND WALMART SAYS IT'S CHALLENGING SUPPLIERS TO USE SELECTIVE BREEDING PRACTICES, INNOVATION AND BEST MANAGEMENT PRACTICES TO IMPROVE THE HEALTH AND WELFARE OF LAYING HENS. DESPITE REPORTED ATTEMPTS TO BUY OTHER MAJOR AG COMPANIES THIS WINTER, IT APPEARS MONSANTO IS CONTENT WITH ITS CURRENT SIZE.
MONSANTO TO FOCUS ON RESEARCH AND DEVELOPMENT RATHER THAN MEGA MERGERS:
ACCORDING TO BLOOMBERG, MONSANTO C-E-O HUGH GRANT SAID THE COMPANY WILL FOCUS ON RESEARCH-AND-DEVELOPMENT, AND COMMECIAL PARTNERSHIPS TO GENERATE GROWTH. GRANT SAYS HE NO LONGER SEES "LARGE SCALE" MERGERS AND ACQUISITIONS AS A STRATEGY TO GROW. LATE LAST YEAR, AGDAY REPORTED ON MONSANTO'S BID FOR SYNGENTA. THAT TRANSACTION NEVER OCCURRED. INSTEAD SYNGENTA WAS PURCHASED BY A CHINESE COMPANY. MEANWHILE MONSANTO'S SECOND QUARTER FINANCIALS SHOWED THEIR EARNINGS WERE WITHIN EXPECTATIONS.
SPORTS FANS SHY AWAY FROM SEAFOOD PRODUCTS IN THE STANDS:
WHAT'S THE NUMBER ONE IMPORTED FOOD THAT GETS TURNED-AWAY AT U-S PORTS? ACCORDING TO A RECENTLY RELEASED STUDY FROM THE FOOD AND DRUG ADMINISTRATION -IT'S FISH AND OTHER SEAFOOD PRODUCTS. THE AG DEPARTMENT ANALYZED F-D-A'S 'REFUSAL OF FOOD PRODUCTS' ENTERING THIS COUNTRY FROM 2005 TO 2013.
SANITATION CONCERNS:
OF THE 88-THOUSAND REFUSALS, 18-THOUSAND WERE FISH OR SEAFOOD. THAT'S ABOUT 20-PERCENT. SANITARY VIOLATIONS WERE THE NUMBER ONE REASON FOR THE REFUSAL OF THE FISH. WE TALKED WITH A CATFISH PRODUCER IN ALABAMA WHO SAYS THE SAFETY STANDARDS AND GROWING CONDITIONS JUST AREN'T THERE IN OTHER COUNTRIES-ESPECIALLY FOR SOME IMPORTED CATFISH CALLED PAN-GAY-SEEUS.
NOW THERE ARE SOME WITHIN THE INDUSTRY WHO FEEL THE IMPORTED CATFISH-LIKE SPECIES ARE SAFE TO EAT... THE NUMBER TWO MOST-REFUSED FOOD BEHIND FISH IS PRODUCE. F-D-A DENIES ACCEPTANCE TO 16-PERCENT OF ALL VEGETABLE AND VEGETABLE PRODUCTS. THAT'S FOLLOWED BY FRUIT WITH TEN PERCENT.
CROP PROGRESS REPORT TALKS WHEAT QUALITY:
USDA IS GIVING US A TASTE ON WINTER WHEAT CONDITIONS IN ITS FIRST CROP PROGRESS REPORT, SHOWING 59 PERCENT OF THE CROP IS GOOD TO EXCELLENT. FRIGID TEMPERATURES ARE LEAVING A MARK ON THE KANSAS WHEAT CROP. 55 PERCENT IS IN GOOD TO EXCELLENT CONDITIONS, 8 PERCENT IS POOR TO VERY POOR. 56 OF MONTANA'S CROP IS RATED GOOD TO EXCELLENT AND 40 PERCENT FAIR. TEXAS LOOKS TO BE IN THE WORST SHAPE WIHT 47 PERCENT OF THE CROP RATED GOOD TO EXCLLENT AND 42 PERCENT FAIR.
COLD SPELL COULD SPOIL EARLY WHEAT:
FARM JOURNAL WHEAT SPECIALST PHIL NEED-EM SAYS THE WHEAT CROP IN KENTUCKY IS ABOUT 2 WEEKS AHEAD OF SCHEDULE. THAT'S WORRYING HIM AS A COLD SPELL IS LIKELY TO HIT THE U.S. THIS WEEKEND. SATURDAY MORNING, DEPENDING ON WHICH FORECAST YOU LOOK AT, THEY'RE PREDICTING 26 TO 29 FARENHEIT TEMPERATURES FOR A LOW SAT MORNING. THIS WHEAT JOINTED 10 DAYS AGO. THERE ARE SOME FURTHER AHEAD THAN THIS. FLAGLEAF IS STARTED TO EMERGE. AND IF IT GETS 26 TO 29 DEGREES FOR MORE THAN A COUPLE OF HOURS, WE'RE PROBABLY GOING TO SEE SIGNIFICANT FREEZE INJURY UP AND DOWN THIS REGION. A LOT OF CENTRAL PLAINS HAS SEEN THIS. SAME SCENARIO. VERY MILD WINTER OUT THERE ALSO. A LOT OF GROWTH. COOL TEMPS SOME WEEKS AGO, PLUS OR MINUS. THEY SAW INJURY. I'M WORRIED I'M WORRIED THE SAME WILL HAPPEN HERE."
FIRE STORMS, FOLE-E-AIR DISEASES:
HE SAYS BECAUSE OF THE MILD WINTER THERE ARE SOME FOLE-E-AIR DISEASES IN THE CROP. MEANWHILE IN THE CENTRAL PLAINS -PARCHED CONDITIONS AND STRONG WINDS CONTINUE TO FEED FIRE-STORMS IN KANSAS AND OKLAHOMA. TAKE A LOOK AT THIS. IT'S FROM KWTV IN OKLAHOMA CITY. THEIR CAMERA WAS ROLLING AS THE OPERATOR OF THIS ROAD GRADER TRIED TO GET AWAY FROM A
WALL OF FLAMES. THE DRIVER WAS ABLE TO LEAP FROM THE CAB JUST SECONDS BEFORE FLAMES ENGULFED HIS EQUIPMENT. HE WAS ABLE TO RUN TO THE NEWS TRUCK FOR SAFETY...AS IT QUICKLY BACKED AWAY. OFFICIALS IN WOODS COUNTY, OKLAHOMA SAY ABOUT 20 SQUARE MILES OF LAND.
CROP COMMENTS:
CROP COMMENTS IS BROUGHT TO YOU BY RESICORE HERBICIDE FROM DOW AGROSCIENCES. HAVE BEEN TORCHED. RAIN IS PUTTING PLANTING ON HOLD FOR SOME FARMERS. WE HAVE AN UPDATE IN THIS MORNING'S CROP COMMENTS. MIKE. GOOD MORNING BETSY. LET'S START OFF IN WEST CENTRAL OHIO. MATT BAMBAUER SAYS HE'S TOPDRESSING WHEAT IN HIS AREA.
HE SAYS GROUND CONDITIONS ARE MARGINAL AT BEST. HE DOESN'T THINK PLANTING WILL TAKE PLACE FOR ANOTHER TWO WEEKS. HEADING OVER TO NORTHERN MISSOURI.. ZANE JONES SAYS THERE IS A LOT OF CORN IN THE GROUND IN HIS AREA. BUT A RAIN SHOWER EARLIER THIS WEEK IS HAULTING PLANTING FOR NOW. ACCORDING TO USDA'S CROP PROGRESS REPORT, MISSOURI HAS 3 PERCENT OF CORN ACRES IN THE GROUND. THAT'S A POINT BEHIND THE 5-YEAR AVERAGE. AND TAKING A LOOK AT THE WEATHER MAP YOU CAN SEE THE SYSTEMS CONTINUE TO DIVE THROUGH THE UPPER MIDWEST AND WE HAVE ONE LURKING OFF THE SOUTH WEST SHORELINE WE'LL TALK ABOUT YOUR FORECAST BUT NOW HERE ARE SOME HOMETOWN TEMPS.
TEASE:
COMING UP ON AGDAY, DID WE FIND A LOW IN FED AND FAT CATTLE?  CRAIG VANDYKE WITH TOP THIRD AG MARKETING DISCUSSES.  AND WE'LL VISIT A 4-H CAMP THAT'S URGING SAFETY AS IT TEACHES THE BASIC SKILLS OF MARKSMANSHIP.
FROM THE FLOOR OF THE CME:
LET'S SEE HOW THE MARKETS CLOSED MID-WEEK. FOR THAT, WE HEAD TO THE CME FLOOR IN CHICAGO. WEDNESDAY'S GRAIN TRADE, WE SEE MODERATE PRICES. A LOT OF PRESSURE IN WHEAT. A NICE LITTLE RALLY IN SOYBEANS AND A FAIRLY FLAT CORN. I DON'T THINK THERE'S ANYTHING UNUSUAL ABOUT THIS BESIDES THAT WE SAW BEANS BREAK EARLIER AND THEN START TO RALLY. CORN HAS BEEN A PENNY OR TWO OR UNCHANGED. WHEAT GOT HAMMERED BY THE OPENING BELT. IF YOU LOOK AT WHEAT, 4.60. THAT LOOKS TO BE A GOOD LEVEL. SOYBEANS, I WANT TO SEE THOSE TRADE. I'D LIKE TO SEE THOSE COME DOWN TO NEW LOWS. IT'S GOING TO BE HEALTHIER FOR THE MARKET. IN CORN, IF YOU LOOK AT 3.55 OR SOMEWHERE IN THERE, WE'RE IN PRETTY SOLID SHAPE. WEDNESDAY'S LIVESTOCK HAS AN INTERESTING MARKET. THIS IS TODD HOROWITZ WITH BUBBA TRADING.COM, COMING FROM THE CME FLOOR IN CHICAGO. IN ANALYSIS ARE THE LOWS IN FED AND FAT CATTLE IN THE REAR VIEW MIRROR?
AGRIBUSINESS:
CLINTON GRIFFITHS DISCUSSES. JOINING ME AT THE AGRIBUSINESS DESK, I HAVE CRAIG VANDYKE WITH TOP THIRD AG MARKETING. CRAIG, LET'S TALK ABOUT THE CATTLE MARKET. SINCE OCTOBER, WE KNOW IT'S BEEN A VOLATILE SITUATION BUT IT SEEMS TO HAVE MELLOWED OUT HERE OVER THE LAST MONTH OR SO. YOU'RE ABSOLUTELY RIGHT. AFTER THE BIG BREAK WE SAW LATER LAST YEAR AND HEADING TO THE FOURTH QUARTER, WE'VE SEEN THE MARKET SET SOME PARAMETERS. WE'VE SEEN THE MARKET STEADY OUT A LITTLE BIT AT ONE POINT. I THINK WE WERE TRADING FAIRLY FLAT FOR A WEEK OR TWO WHICH WE HAVEN'T SEEN IN THE CATTLE MARKET IN QUITE SOME TIME. YOU KNOW, I THINK THE ACTION WE'VE SEEN THIS WEEK AS FAR AS APRIL CATTLE CAME DOWN, FILLED THE GAP WE PUT IN THE CHARTS WE PUT IN  A MONTH AGO. IT HAD A DECENT FINISH. YOU KNOW, WE'RE SEEING SOME 1.33 TRADE THIS WEEK. THAT'S NOT A BAD SIGN. NOW MOVING FORWARD HERE, HAVE WE PUT THE LOW IN FEEDERS HERE IN DECEMBER AND HAVE WE PUT THE LOW IN FOR FAT CATTLE BACK IN OCTOBER? AS OF RIGHT NOW, TO ME, ON THE CHARTS, WHERE WE'RE AT LONG-TERM OUR LONG-TERM AVERAGE IT DOES LOOK LIKE WE POSSIBLY FOUND THE LOW LAST YEAR. NOW, THIS IS BORROWING OUTSIDE MARKET ACTIVITY. AS WE SAW EARLIER THIS YEAR, WE CAME BACK INTO WEAKNESS AS THE SMP DROPPED 10 PERCENT, CRUDE CONTINUED TO PLUMMET.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN. MIKE, IT  LOOKS AS IF CALIFORNIA IS GOING TO RECEIVE SOME MUCH NEEDED RAIN. YEAH, WE HAVEN'T SEEN A SYSTEM LIKE THIS IN A WHILE COMING UP FROM THE SOUTHWEST BUT IT LOOKS LIKE IT'S GOING TO BRING SOME RAIN TO SOUTHERN CALIFORNIA, PARTS OF ARIZONA AND THE SOUTHWEST. AND IF YOU WATCH ME YESTERDAY, WE WERE TALKING ABOUT THE AREA OF DRYNESS AS FAR AS THE CROP MOISTURE IS CONCERNED IS IN THE SOUTHWEST. THAT'S GOOD NEWS THERE. NOT SO GOOD NEWS ACROSS THE NORTHEASTERN PLAINS, GREAT LAKES, OHIO VALLEY AND NORTHEAST. WE JUST HAVE A SPRING OF SYSTEMS DIVING THROUGH THE AREA. THE FIRST ONE IS PRETTY WET ALONG THE EAST COAST WITH THUNDERSHOWERS BY THE MORNING.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY, NOW LET'S LOOK AT YOUR LOCAL FORECAST. FIRST OF ALL, WE'LL HEAD TO BAKERSFIELD, CALIFORNIA, INCREASING CLOUDS TODAY. IT'S NOT AS WARM. THE HIGH IS 79. SPENCER, IOWA IS PARTY SUNNY AND WINDY. A SHOWER IN SOME SPOTS. THE HIGH IS 48 AND MAYBE A MORNING THUNDERSTORM IN FAYETTEVILLE, NORTH CAROLINA MAY BE PARTLY SUNNY WITH A HIGH OF 73.
TEASE:
 JUST AHEAD OUR PARTNERS AT DROVERS LOOK AT CURRENT DEMAND FROM THE BEEF SECTOR. AND WHETHER IT'S FIREARMS OR ARCHERY, THIS KIDS ARE LEARNING HOW TO SHOOT SAFELY. DETAILS AS WE HEAD IN THE COUNTRY. GET THE ROOTS YOUR CROPS NEED, BY GETTING RADIATE FIRST.  VISIT LOVELAND PRODUCTS DOT COME SLASH RADIATE. 


STERLING PROFIT TRACKER:
LOSSES AT THE NATION'S FEEDYARDS CONTINUE TO IMPROVE, BUT VERY SLOWLY. OUR REPORTING PARTNERS AT DROVERS SAY THE STERLING PROFIT TRACKER SHOWS LOSSES ARE NOW AT 175 DOLLARS PER HEAD. THAT'S ABOUT 10 DOLLARS BETTER THAN LAST WEEK. BUT THE GAINS WERE ONLY MODEST CONSIDERING FEEDER CATTLE CLOSEOUTS WERE 40 DOLLARS A HEAD LESS THAN LAST WEEK. MEANWHILE, BEEF PACKER MARGINS IMPROVED A DOLLAR PER HEAD. NOW SEEING PROFITS OF 63 DOLLARS AN ANIMAL.
Q-1 NOW COMPLETE:
THE CALENDAR HAS TURNED TO APRIL-WHICH MEANS Q-1 IS NOW COMPLETE. THAT GIVES THE LIVESTOCK INDUSTRY AN INDICATION ON TRENDS WITH MEAT AND POULTRY. THE NATIONAL RESTURANT ASSOCIATION REPORTING ITS INDEX MEASURING TRAFFIC TO RESTURANTS, WAS UP MORE THAN 3 PERCENT IN FEBRUARY. 
HENDERSON SAYS BROILERS WERE UP IN Q-1 FOR HEAVIER BIRD WEIGHTS. TURKEY PRODUCTION FOR THE QUARTER DROPPED.  THE U-S MEAT EXPORT FEDERATION JUST RELEASED ITS ANALYSIS OF PROTEIN EXPORTS IN FEBRUARY. EXPORTS OF U-S PORK AND BEEF WERE ABOUT THE SAME AS LAST YEARS VOLUMES. BUT EXPORT VALUE HAS MOVED LOWER AS PRICES CONTINUE TO DECLINE. FEBRUARY PORK EXPORTS ARE DOWN ONE PERCENT IN VOLUME. BUT 12 PERCENT IN VALUE. AND FEBRUARY BEEF SHIPMENTS ARE UP SLIGHTLY. BUT VALUE DROPPED 18 PERCENT.
TEASE:
DON'T GO AWAY JUST YET. WHEN WE COME BACK FIND OUT HOW 4-H IS TRYING TO MAKE SURE THE NEXT GENERATION OF SPORTSMEN ARE KEEPING IT SAFE ON THE RANGE.
IN THE COUNTRY:
IN LOUISIANA 4-H, ONE OF ITS FASTEST GROWING PROGRAMS INVOLVES OUTDOOR SKILLS. 4-H YOUTH HELD THEIR REGIONAL COMPETITION OUTSIDE OF SHREVEPORT, AND SAFETY ON THE RANGE WAS THE PRIORITY. LSU AGCENTER'S GAUTREAUX HAS THE STORY.
ARROWS FLEW, CLAY TARGETS WERE BUSTED, AND TESTS WERE TAKEN—ALL PART OF THE 4-H NORTH LOUISIANA REGION OUTDOOR SKILLS COMPETITION. THE EVENT, HELD AT THE LONG RANGE GUN CLUB NEAR FRIERSON, SHOWS HOW POPULAR OUTDOOR SKILLS HAVE BECOME WITH 4-H STUDENTS IN A STATE KNOWN FOR ITS OUTDOOR ADVENTURES. 
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR CLINTON GRIFFITHS AND MIKE HOFFMAN, I'M BETSY JIBEEN. HAVE A GREAT DAY.
PROMO:
I'M BETSY JIBBEN. FRIDAY ON AGDAY -ARE YOUR MARCH PLANTING INTENTIONS, STILL YOUR APRIL PLANTING INTENTIONS? WE'LL TALK ABOUT WHAT IT MEANS TO THE MARKET IN THE PROFARMER PROFIT BRIEFING FRIDAY ON AGDAY.

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close