AgDay Daily Recap -April 26, 2016

April 26, 2016 02:57 AM
 

TODAY ON AGDAY
APRIL 26, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY AS FARMERS PUSH THROUGH PLANTING....IS THERE ENOUGH INCENTIVE TO SWITCH TO SOY? A WARNING ABOUT HACKING -AND THE FARMERS AT RISK WHO EMBRACE THE SMART-TECHNOLOGY... IN AGRIBUSINESSS...YOU HAVE SEEN CATTLE PRICES WHETHER THEY ARE FEEDER OR FATS RIGHT NOW BASICALLY STAY AT THE LOWER END OF THE RANGE AS OF LATE. FIND OUT HOW A NUCLEAR ACCIDENT IN THE 80'S IS STILL AFFECTING DAIRY HERDS IN UKRAINE. WE VISIT A TEXAS COMPANY WHERE WORKERS PUT THEIR HEART AND SOLE INTO EVERY BOOT THEY MAKE.
SOME FARMERS MAKE THE SWITCH TO SOYBEANS:
GOOD MORNING I'M CLINTON GRIFFITHS. ANOTHER STRONG DAY IN THE GRAIN MARKETS AS SOYBEANS REMAIN ABOVE TEN DOLLARS. FARMERS IN THE MIDWEST ARE FOCUSED ON CORN PLANTING RIGHT NOW. SOME HAVE SWITCHED OVER TO SOYBEANS. MANY ARE KEEPING THEIR EYES ON SOYBEAN MARKETS WHICH HAVE SHOWN RE-NEWED STRENGTH IN RECENT DAYS. WILL IT BE ENOUGH TO BUY ACRES AWAY FROM CORN? DURING OUR I-80 PLANTING TOUR LAST WEEK, WE TALKED WITH ONE SEED DEALER IN NORTHERN ILLINOIS SAYS HE'S RECEIVED A FEW LATE ORDERS OF SOYBEANS. HE FEELS THAT'S DUE TO CASH RENTS IN THE AREA.
CROP PROGRESS REPORT:
USDA'S CROP PROGRESS REPORT SHOWS THREE PERCENT OF THE NATIONAL SOY CROP IS PLANTED. THAT'S A TICK AHEAD OF THE AVERAGE. ARKANSAS, LOUISIANA AND MISSISSIPPI ARE IN THE UPPER TEENS AND LOW 20'S FOR PLANTING. THE "EYE" STATES ARE JUST STARTING. FARMERS MAKING BIG GAINS LAST WEEK WITH CORN. 30-PERCENT IS IN THE GROUND, UP 17 POINTS FROM THE PREVIOUS WEEK. AND 14 POINTS AHEAD OF AVERAGE. FARMERS IN THE MIDWEST AND MID-SOUTH SHOWING 30-35 POINT GAINS. MISSOURI -IN PARTICULAR -IS NOW 50 POINTS AHEAD OF AVERAGE WITH ITS CORN.
RURAL MAIN STREET INDEX SHOWS A SLIGHT BREAK IN CASH RENTS THIS SPRING:
 IT APPEARS SOME FARMERS ARE GETTING A SLIGHT BREAK IN CASH RENTS THIS SPRING. THAT'S ONE OF THE HIGHLIGHTS OF THE RURAL MAINSTREET INDEX FROM CREIGHTON UNIVERSITY. BANKERS WHO WERE SURVEYED SAY AVERAGE  CASH RENT PER ACRE DROPPED BY SEVEN PERCENT FROM APRIL OF LAST YEAR. THE AVERAGE CASH RENT IN THIS DISTRICT IS TWO-HUNDRED-ELEVEN DOLLARS. BUT THE BANKERS SAID IT VARIED GREATLY AMONG FARMERS.
NON-REAL ESTATE FARM LOANS INCREASE TO COVER EQUIPMENT EXPENSES:
THE KANSAS CITY FEDERAL RESERVE DISTRICT RELEASES ITS FIRST QUARTER RECAP OF THE MIDWEST AND CENTRAL PLAINS. THE K-C FED SAYS THE NUMBER OF FARMERS SEEKING NON REAL ESTATE FARM LOANS INCREASED SLIGHTLY AND THE VOLUME OF LOANS REMAINED NEAR RECORD HIGHS. THE LOANS ARE PRIMARILY TO COVER OPERATING EXPENSES. BANKERS WHO RESPONDED TO THE SURVEY SAY RETURNS AT AGRICULTURAL BANKS GENERALLY REMAINED STRONG, BUT DELINQUENCY RATES TICKED UP AND LOAN REPAYMENT RATES DIPPED. THE FED SAYS ALTHOUGH FARMLAND VALUES HAVE REMAINED RELATIVELY STRONG IN THE DISTRICT, A POOR OUTLOOK FOR CASH FLOW COULD CONTINUE TO PRESSURE A LARGER SHARE OF FARM BORROWERS IN THE COMING YEAR.
FBI ADVISES FARMERS TO USE CYBERSECURITY ON THE FARM:
THE FBI AND USDA WARNING THE AG INDUSTRY ABOUT THE POTENTIAL DANGERS OF HACKING. AS MORE PRODUCERS USE INTERNET CONNECTED AND PRECISION FARMING EQUIPMENT, THE AGENCIES SAY ITS IMPORTANT TO CONSIDER HOW THOSE DEVICES ARE SET UP. THE FBI WARNING DATA BREACHES COULD EXPOSE FARMING INFORMATION SAVED WITH MULTIPLE COMPANIES OR ON CLOUD ACCOUNTS. THE ADVISORY SAYS FARMERS NEED TO FOCUS ON CYBERSECURITY AND PUT A BREACH RESPONSE PLAN IN PLACE.
PORK BOARD TRADE MARK PURCHASE APPROVED:
USDA'S AGRICULTURAL MARKETING SERVICE ANNOUNCED IT WILL APPROVE THE $3 MILLION ANNUAL PAYMENT BY THE NATIONAL PORK BOARD TO THE NATIONAL PORK PRODUCERS COUNCIL FOR A TRADEMARK PURCHASE. THE APPROVAL COMES AS THE HSUS CHALLENGES USDA'S APPROVAL OF THE PURCHASE FOR THE PORK, THE OTHER WHITE MEAT SLOGAN AND ICON. AN INDEPENDENT REVIEW OF THE TRADEMARKS VALUE, COMMISSIONED BY THE COURT, FOUND THE VALUE OF THE TRADEMARKS EXCEEDS THE VALUE OF THE ORIGINAL PURCHASE PRICE, TRIGGERING USDA TO APPROVE THE CONTINUING PAYMENTS UNDER THE ORIGINAL AGREEMENT.
CROP COMMENTS:
MIKE HOFFMAN IS BACK IN THE STUDIO. LET'S CHECK IN WITH HIM FOR THIS MORNING'S CROP COMMENTS. GOOD MORNING, CLINTON. LET'S START OFF IN CICERO, INDIANA. GEORGE KAKASULEFF SAYS HE STARTED PLANTING CORN LAST MONDAY AND SOYBEANS THIS WEEK. HE SAYS CONDITIONS ARE DECENT AND THE SOIL IS WARMING UP. THE AREA IS HAVING NICE WEATHER SO FAR. HEADING OVER TO DENNINSON, MINNESOTA, MATT BRAUN SENT US AN UPDATE ON THE SOD AND TURF INDUSTRY.  MATT SAYS CONDITIONS ARE GOOD FOR SEEDING SOD. HIS FAMILY OPERATION FINISHED SATURDAY BEFORE THE RAIN CAME.
TEASE:
 PLENTY MORE AHEAD ON AGDAY. NEXT WE'LL GAUGE WHERE CONSUMER DEMAND MAY BE TAKING THE BEEF MARKET THIS SUMMER. THREE DECADES AFTER THE CHERNOBYL NUCLEAR DISASTER IN WHAT WAS THE SOVIET UNION, FARMERS AND THEIR DAIRY HERDS ARE STILL PAYING A STEEP PRICE. AND WE VISIT A FACTORY IN THE LONE-STAR STATE THAT PUTS A LOT OF SOLE INTO THEIR WORK.

AGRIBUSINESS:
HERE AT THE AGRIBUSINESS DESK WE HAVE DOUG WHIRLING WITH BOWER TRADING. DOUG, LET'S TALK ABOUT THE CATTLE MARKET. IT'S BEEN KIND OF INTERESTING HERE AS WE GET INTO THE SUMMER GRILLING SEASON.> YEAH, ACTUALLY YOU HAVE SEEN CATTLE PRICES WHETHER THEY ARE FEEDER OR FATS RIGHT NOW BASICALLY STAY AT THE LOWER END OF THE RANGE AS OF LATE AND WE HAD SOME PRETTY INTERESTING RETAIL SALES DATA COME OUT AND WHAT IT TELLS YOU IS THAT PRICES FROM THE RETAIL SECTOR YEAR TO YEAR ARE DOWN AND THAT MAKES SENSE, BECAUSE WE HAD AN INFLUX OF SUPPLY AT THE END OF LAST YEAR, HOWEVER FROM FEBRUARY TO MARCH WE SAW PRICES RISE A LITTLE BIT AND THAT IS SOMETHING TO WATCH GOING FORWARD CLOSELY, BECAUSE IT WILL GIVE YOU AN IDEA OF WHAT THE U.S. CONSUMER'S DEMAND IS.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY, METEOROLOGIST MIKE HOFFMAN BACK IN THE STUDIO TODAY. MIKE, YOU TOOK A FEW DAYS OFF, STRETCHED YOUR LEGS A LITTLE BIT. WE WENT CAMPING IN NORTHERN ALABAMA. THAT SOUNDS PRETTY GOOD. IT WAS WONDERFUL. IT REALLY WAS. WHEN I LEFT LAST WEEK, I THOUGHT THE PLAINS HAD A GOOD CHANCE TO GET SOME RAIN, EVEN IN SOME AREAS THAT WERE DRY, AS YOU'LL NOTICE, ONCE AGAIN, AN AREA OF NORTHERN OKLAHOMA, SOUTHERN KANSAS, AN AREA GETTING DRIER AND DRIER, KIND OF IN BETWEEN THE HEAVIER RAIN. OF COURSE TODAY, THERE'S A POSSIBILITY OF SOME RAIN, ALTHOUGH IT COULD BE HEAVY THUNDERSTORMS, EVEN TORNADOES IN KANSAS, OKLAHOMA AND OTHER PARTS OF THE PLAINS.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT YOUR LOCAL FORECASTS. FIRST OF ALL, FOR FRESNO, CALIFORNIA, IT'S MOSTLY SUNNY AND RATHER COOL TODAY. THE HIGH IS 71. ABERDEEN, SOUTH DAKOTA IS PARTLY SUNNY, BREEZY AND CHILLY. THE HIGH IS 54. AND CORBIN, KENTUCKY IS WARM WITH A SPOTTY SHOWER OR THUNDERSTORM WITH A HIGH AROUND 80.
TEASE:
NEXT FIND OUT HOW A NUCLEAR ACCIDENT IN THE 80'S IS STILL AFFECTING DAIRY HERDS IN UKRAINE. AND WHAT'S THE RISK TO CONSUMERS? AND FIND OUT HOW OLD-FASHIONED HANDIWORK IS STILL CREATING SOME OF THE FINEST TWO-STEPPIN' BOOTS IN THE LONE-STAR STATE. IN THE COUNTRY LATER ON AGDAY.
FIRST CATTLE ON FEED REPORT RELEASED:
USDA RELEASING IT'S APRIL FIRST CATTLE ON FEED REPORT.  AND THE DATA INDICATING HERD EXPANSION MAY BE STARTING TO TAPER---AS MORE HEIFERS FOUND THEIR WAY INTO FEEDLOTS. PLACEMENTS WERE UP 5 PERCENT COMPARED TO MARCH 2015....ALHOUGHT NOT AS MUCH AS THE INDUSTRY EXPECTED. GOOD FORAGE AND LOWER PRICES HELPING HOLD MORE CATTLE OUT OF THE LOT.  HEIFER NUMBERS HOWEVER, CLIMBING 4 PERCENTAGE POINTS. OVERALL, CATTLE ON FEED TOTALING 10 POINT 9 MILLION HEAD...ONE PERCENT HIGHER YEAR OVER YEAR. THE NUMBER OF CATTLE SOLD TO PACKERS, OR MARKETINGS, COMING IN AT 1.74 MILLION HEAD. THAT'S UP 7.0 PERCENT FROM A YEAR AGO.  YEAR TO DATE, ON THE DAIRY SIDE, CULLING IS JUST A BIT AHEAD OF LAST YEAR. 53-HUNDRED HEAD MORE OR POINT 6 PERCENT HIGHER...THAN A YEAR AGO AT THIS TIME. USDA SAYS NEARLY 262-THOUSAND DAIRY CATTLE WERE SLAUGHTERED IN MARCH...AS THE INDUSTRY WORKS TO SLIM DOWN A GROWING HERD AMID THESE LOWER PRICES.
DAIRY HERD HEAD MARCH NUMBERS LARGER THAN A YEAR AGO:
 USDA SAYS THE DAIRY HERD IN MARCH 2016 IS 14-THOUSAND HEAD LARGER THAN MARCH OF 2015. THE DAIRY AND CHEESE INDUSTRY HAS BEEN AT THE HEART OF TRADE TALKS BETWEEN THE U.S. AND THE E-U...TALKS SET TO RESUME THIS WEEK IN NEW YORK.

OBAMA TALKS TRADE WITH EUROPE:
PRESIDENT OBAMA TALKING TRADE WHILE TOURING EUROPE RECENTLY. HE ENCOURAGED MEMBER NATIONS TO STICK TOGETHER AND FOCUS ON THE BENEFITS OF A NEW TRADE DEAL. T-TIP OR THE TRANATLANTIC TRADE AND INVESTMENT PARTNERSHIP--REMAINS MIRED IN CONTENTIOUS TALKS...LOOKING LESS LIKELY TO BE COMPLETED BEFORE THE PRESIDENT LEAVES OFFICE AT THE END OF 2016.
30 YEARS AFTER CHERNOBYL, RADIOACTIVE ISOTOPES STILL SHOWING UP:
IT'S BEEN 30 YEARS SINCE THE NUCLEAR ACCIDENT AT CHERNOBYL. AND DESPITE THREE DECADES OF TIME, RADIATION CONTINUES TO IMPACT FARMERS IN THE REGION. THIS DAIRYMAN GRAZES HIS 50 COWS ON LAND THAT'S JUST 25 MILES TO THE NORTH OF THE POWER PLANT IN UKRAINE. IT WAS THERE THAT A REACTOR EXPLOSION AND FIRE BROKE OUT APRIL 26TH 1986. TODAY RADIATION CAN STILL BE FOUND IN AG PRODUCTS INCLUDING THE MILK FROM THIS FARM. THE STATE-RUN MINSK CENTER OF HYGIENE AND EPIDEMIOLOGY SAID IT FOUND STRONTIUM-90, A RADIOACTIVE ISOTOPE LINKED TO CANCERS AND CARDIOVASCULAR DISEASE, IN QUANTITIES 10 TIMES HIGHER THAN BELARUSIAN FOOD SAFETY REGULATIONS ALLOW. DESPITE THE TEST THIS FARMER SAYS HE IS ABLE TO SELL AS MUCH AS TWO TONNES OF MILK A DAY TO A LOCAL DAIRY-FOODS COMPANY, WHOSE PRODUCTS INCLUDE CHEESE SOLD FOR EXPORT.
TEASE:
WHEN WE COME BACK WE VISIT A TEXAS COMPANY WHERE WORKERS PUT THEIR HEART AND SOLE INTO EVERY BOOT THEY MAKE.
IN THE COUNTRY:
THE SOUL OF A COWBOY CAN OFTEN BE FOUND IN THE SOLE OF HIS FOOT-WEAR.  COWBOY BOOTS ARE AN ICONIC PART OF TEXAS. A FEW BOOTMAKERS STILL HAND CRAFT THE FAMED FOOTWEAR. ED WOLFF WITH THE TEXAS FARM BUREAU VISITED ONE WITH A HISTORY ALMOST AS OLD AS THE LONE STAR STATE.
NOTHING SAYS TEXAS QUITE LIKE A GOOD PAIR OF COWBOY BOOTS. JUST ABOUT EVERY TEXAN HAS A PAIR. THEY MAY WEAR THEM EVERY DAY OR A FEW TIMES A YEAR. IT'S A TRUE TEXAS TRADITION. THE CRAFTSMEN AT RIOS OF MERCEDES HAVE BEEN MAKING THE ICONIC FOOTWEAR FOR OVER A CENTURY AND  A HALF.
WITH THE TEXAS FARM BUREAU, ED WOLFF, MERCEDES.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR MIKE HOFFMAN, AND ALL OF US AT AGDAY. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS. WEDNESDAY ON AGDAY -THE EXCLUSIVE I-80 PLANTING TOUR STOPS IN ILLINOIS. WE'LL SEE HOW THIS YEARS CROPS ARE GOING-IN. AND GRAIN PRICES ARE UP. BOB UTTERBACK ADVISES HOW FARMERS SHOULD RESPOND. WATCH US WEEKDAYS RIGHT HERE ON AGDAY.

 

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