AgDay Daily Recap -Dec. 17, 2015

December 17, 2015 02:57 AM
 

TODAY ON AGDAY
DEC. 17, 2015


OPENING HEADLINES:
THE FEDERAL RESERVE RAISES INTEREST RATES.
PLUS, COULD THESE CALVES WITH CLONED PARENTS  BE THE FUTURE OF FEEDERS.
IN AGRIBUSINESS....FOCUSING ON THE FUNDAMENTALS  OF THE CATTLE COMPLEX. 
"JUST LIKE WE HAVE SEEN IN THE GRAIN MARKETS WHERE RALLIES HAVE BEEN SELLING OPPORTUNITIES MAYBE THAT'S THE WAY YOU GOT TO START THINKING ABOUT THIS CATTLE TO SOME EXTENT."
AND FEAST OR FORTUNE...A NEW PROGRAM AIMS TO MAKE YOUR HOLIDAY MEAL  EASIER ON THE POCKETBOOK.
RUMORS EXPELLED: FEDS RAISE INTEREST RATES ON WEDNESDAY:
FED CHAIRWOMAN JANET YELLEN ANNOUNCING THE FEDERAL RESERVE IS RAISING  INTEREST RATES FROM RECORD LOWS BY A QUARTER POINT.THIS IS THE FIRST INCREASE IN NEARLY A DECADE.IT PUSHED  THE BENCHMARK  RATE TO ZERO FOLLOWING THE FINANCIAL CRISIS OF 2008.YELLEN SAYS RELATIVE STABILITY IN THE U.S. ECONOMY GAVE THEM CONFIDENCE THAT NOW IS THE TIME TO BEGIN MOVING RATES HIGHER. THE FED'S DECISION MAY HELP YOUR SAVINGS ACCOUNT, BUT IT ALSO MEANS  HIGHER BORROWING RATES FOR FARM LOANS, LAND PURCHASES AND EQUIPMENT.
FISCAL 2016 OMNIBUS BILL AND MAJOR TAX-EXTENDERS BILL:
CONGRESSIONAL LEADERS UNVEILING  THE TEXT OF THE FISCAL 2016 OMNIBUS BILL AND A MAJOR TAX-EXTENDERS BILL. THE  PACKAGE COULD MAKE SOME  TAX  PROVISIONS PERMANENT. WITHIN THE BILL -- AN EXPANSION OF SECTION 179- WHICH ALLOWS BUSINESSES OR OPERATIONS TO DEDUCT THE FULL PURCHASE PRICE OF FINANCED OR LEASED EQUIPMENT- THE DEDUCTION WOULD BE CAPPED  AT 500-THOUSAND DOLLARS. FOR 2015, A FARMER WAS ONLY ALLOWED TO DEDUCT 25- THOUSAND  DOLLARS UNDER SECTION 179. NO BONUS DEPRECIATION WAS AVAILABLE. IF APPROVED,  THE SECTION 179 DEDUCTIONS  WILL BE INDEXED FOR INFLATION.
THE BILL INCLUDES A PROVISION THAT ALLOWS THE PRESIDENT TO RESTRICT OIL EXPORTS FOR UP TO YEAR IF THERE'S A SUPPLY SHORTAGE.
WHILE OPPOSING THE STAND ALONE BILL, THE PRESIDENT IS EXPECTED SIGN THE OVERALL SPENDING BILL.

USDA REMOVES FARM PROGRAM PAYMENTS:
USDA IS REMOVING FARM PROGRAM  PAYMENTS FROM MANAGERS WHO ARE NOT ACTIVELY ENGAGED IN FARMING. THE DEPARTMENT  FINALIZED A RULE THAT SAYS FARM SAFETY-NET PAYMENTS ARE ONLY ISSUED TO ACTIVE MANAGERS WHO OPERATE AS JOIN VETNURES OR GENERAL PARTNERSHIPS UNDER THE FARM BILL.THE RULE GOES INTO EFFECT FOR THE 2016 CROP YEAR. FARMS THAT HAVE ALREADY PLANTED 2016 CROPS, HAVE UNTIL THE 2017 CROP YEAR TO COMPLY.
WEATHER:
YOU'RE LOOKING AT THE BIGGEST WINTER STORM  TO HIT DENVER SO FAR THIS SEASON.
THE CITY RECEIVED ALMOST  8 INCHES OF SNOW THIS WEEK. IT ALSO BROKE A DAILY SNOWFALL  RECORD  THAT'S BEEN IN PLACE IN MORE THAN ONE HUNDRED YEARS- SINCE 1897! MIKE HOFFMAN  JOINS US FOR CROPWATCH AND A LOOK AT SOME OTHER STATES SEEING WINTERY CONDITIONS.
CLINTON,
SOME  OTHER AREAS ARE SEEING PLENTY OF SNOWFALL AS WELL.
THIS WAS SNAPPED ON INTERSTATE 90 NEAR CENTRAL SOUTH DAKOTA.
POCKETS OF THE STATE RECEIVED A FOOT OF SNOW- WHILE OTHERS ON THE SOUTHEASTERN  SIDE RECEIVED A COUPLE OF INCHES.
TEASE:
UP NEXT WE'LL TRY TO GET A HANDLE ON THE CATTLE MARKETS AND WHAT THE FUNDAMENTALS  SAY ABOUT PRICE MOVEMENTS.
AND LATER FOOD FOR THOUGHT...IN TENNESSEE
AGRIBUSINESS:
JOINING ME AT THE AGRIBUSINESS DESK, JOE VACLIVIK, AND STANDARD GRAIN. JOE, I FEEL LIKE A BROKEN RECORD  SOME  WEEKS TALKING ABOUT DIFFERENT MARKETS OF COURSE CATTLE  MARKETS HAVE BEEN BEAT  UP OVER THE LAST I DON'T KNOW MONTH, TWO MONTHS, SINCE OCTOBER OF COURSE.  ANY CHANCE OF STOPPING SOME  OF THE FLOW DOWNWARD ON THIS MARKET?> WELL, I THINK IN A BIGGER PICTURE  PERSPECTIVE WE HAVE BEEN IN A BEAR TREND IN A CATTLE  FOR SOME  TIME NOW FOR MANY, MANY MONTHS. AND IN BEAR  MARKETS THEY ARE GOING  TO GIVE YOU OPPORTUNITY TO SELL IN THE RALLIES. THE PROBLEM THAT  I AM SEEING IS THAT  EVERY TIME WE START  TO RALLY PEOPLE THINK THAT'S THE BOTTOM AND NOW WE ARE GOING  BACK HIGHER. 
OVERALL YOUR PERSPECTIVE OF 2016 AND LIVESTOCK?>  I HOPE THAT  IT GETS  BETTER WITH CATTLE, BECAUSE I KNOW THAT  THE MARGINS BREAK  EVENS  FOR FEEDLOTS RIGHT NOW ARE VERY, VERY BAD  AND THAT'S NOT SOMETHING THAT  ANYONE WANTS TO SEE. WE NEED SOMEONE TO BUY CORN, WE NEED THEM  TO STAY IN BUSINESS, SO WE NEED SOME  IMPROVEMENT.> ALL RIGHT, JOE.I APPRECIATE THAT. WE WILL BE BACK WITH MORE  AGDAY IN JUST A COUPLE  MINUTES.
NATIONAL WEATHER:
WELCOME  BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN.  MIKE, IT LOOKS LIKE WE MIGHT  CALL THIS AN ACTIVE WEATHER PATTERN.  I THINK YOU COULD. I THINK SOME PEOPLE MAY SAY THEY'RE NOT GETTING ANY SNOW SO IT'S NOT ACTIVE FOR DECEMBER BUT IT REALLY IS. WE'VE HAD A LOT OF STORM SYSTEMS MOVE FROM WEST TO EAST. AS YOU CAN SEE, THERE ARE MULTIPLE SYSTEMS ON THE MAP THIS MORNING. ONE OVER COLORADO, A LITTLE BIT OF LIGHT SNOW THERE. THE MAIN ONE IS OVER THE NORTHERN  GREAT LAKES AND THIS NEXT ONE COMING OUT WEST. THIS WILL PUT DOWN A WHOLE BUNCH OF RAIN, MOUNTAIN SNOWS. PARTS OF OREGON, WASHINGTON, NORTHERN CALIFORNIA AND OF COURSE THE FIRST COLD FRONT IS GOING TO CAUSE SOME SHOWERS AND THUNDERSTORMS, MID-ATLANTIC TO THE SOUTHEASTERN STATES. BEHIND THESE FRONTS ARE COLDER AND COLDER AIR.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS.  FIRST OF ALL, FOR CASPER, WYOMING, A MIX OF SUN AND CLOUDS. COLD TODAY. THE HIGH TEMPERATURE IS JUST 18. SPRINGFIELD, ILLINOIS IS PARTLY SUNNY AND COLDER. THE HIGH IS 38. FINALLY, STATESBORO, GEORGIA IS WARM AND HUMID WITH SHOWERS AND A THUNDERSTORM.  THE HIGH IS 77.
YAMAHA GIVE AWAY:
TODAY IS IT...THE LAST DAY TO REGISTER TO WIN THIS YAMAHA KODIAK 700.
AGDAY AND YAMAHA ARE GIVING AWAY THIS BRAND NEW A- T-V TO ONE OF OUR LUCKY VIEWERS.
AS WE'VE BEEN TELLING THE KODIAK 700 IS A GREAT FIT FOR WORK ON THE FARM OR RANCH--MIDSIZED WITH PLENTY OF POWER.
WE WILL ANNOUNCE  THE WINNER FRIDAY MORNING.
 SO IF YOU HAVEN'T REGISTERED, BE SURE TO GET IT DONE. IT HAS TO BE ONLINE--GO TO AGDAY-DOT-COM AND CLICK ON THE KODIAK TO ENTER.
TEASE:
ALRIGHT WHEN  WE COME BACK, COLD THE CALVES OF CLONES  BE THE FUTURE OF FEEDING BETTER BEEF.
AND LATER, EATING ON A BUDGET THIS HOLIDAY SEASON.  A TENNESSEE EXTENSION PROGRAM IS HELPING CREATE A MEAL THAT'S WON'T BREAK THE BANK.
FIND YOUR NEXT PIECE OF EQUIPMENT  AT MACHINERY PETE.COM AND ENTER FOR YOUR CHANCE TO WIN A YETI COLLER. ONE  YETI TUNDRA 35 COOLER IS BEING GIVEN AWAY EACH WEEK. GO TO WWW.MACHINERYPETE.COM/SURVEY, COMPLETE  THE SURVEY, AND ENTER YOUR INFORMATION. YOU COULD BE NEXT OWNER  OF A MACHINERY  PETE YETI COOLER.
BEEF TODAY REPORT:
IN OUR BEEF TODAY REPORT,  IT WAS ANOTHER DISMAL WEEK FOR FEEDERS ACCORDING  TO THE LATEST STERLING BEEF PROFIT TRACKER.
IT SAYS FEEDYARDS LOST AN AVERAGE OF 681 DOLLARS PER HEAD--A FULL 70 DOLLARS PER HEAD WORSE THAN THE WEEK BEFORE.
THE 5 AREA CASH PRICES AVERAGING 118- AND A HALF.
IT ESTIMATES,  COW-CALF PROFITS FOR 2016 AT 232 DOLLARS PER COW.
CLONES COULD BE THE FUTURE IN BEEF:
AS FEEDYARDS STRUGGLE UNDER OF THE WEIGHT OF PLUMETING  CATTLE PRICES, THERE'S NEW RESEARCH UNDERWAY THAT COULD ONE DAY CHANGE  THE WAY BEEF IS GROWN AND SOLD.
TYNE MORGAN  TAKES A CLOSER LOOK AT HOW THE OFFSPRING OF CLONES COULD IMPACT THE FEEDYARD.
A THICK BLACK COAT, NICE DEPTH OF BODY.... THESE MAY LOOK  LIKE YOUR  TYPICAL CALVES, BUT IT'S THEIR GENETICS THAT MAKES THEM UNIQUE.
YOU'RE LOOKING AT THE FIRST CALVES TO BE BORN TO TWO CLONED ANIMALS AND THE PRODUCT OF RESEARCH AT WEST TEXAS A&M UNIVERSITY'S RANCH JUST SOUTH OF AMARILLO.
REPORTING FROM CANYON TEXAS, I'M TYNE MORGAN.
TEASE:
WHEN  WE COME BACK, BUYING ON A BUDGET-- WHILE MANAGING BOTH DOLLARS AND CALORIES.

IN THE COUNTRY:
THE CHRISTMAS SEASON IS A TIME WHEN WE ENJOY GREAT FOOD.
HOWEVER, SOMETIMES  HOLIDAY MEALS CAN BE BOTH EXPENSIVE TO BUY AND PREPARE, OH AND NOT-SO-HEALTHY EITHER.
IN TENNESSEE--EXTENSION IS OFFERING A NEW PROGRAM THAT TEACHES HEALTHY EATING CAN ALSO BE ECONOMICAL. CHARLES DENNEY GETS A TASTE, IN THIS REPORT FROM UT INSTITUTE OF AG.
SLICING AND DICING OUR WAY TO NUTRITION, SANTA'S ELVES ARE BUSY HERE  PREPARING THAT  CLASSIC HOLIDAY TREAT  – CHICKEN AND BROCCOLI CASSEROLE.
"I HAD NO IDEA THAT  IT COULD BE DONE,  BUT WHEN WE GOT TO THE CASH REGISTER,  WE HAD EVERYTHING THAT  WAS ON THE PLATE, AND I THINK IT WAS JUST NINE DOLLARS AND SOMETHING. WE HAD ALMOST  A DOLLAR LEFT."
THIS IS CHARLES DENNEY  REPORTING.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.
FOR MIKE HOFFMAN,  AND AL PELL. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS, MONDAY ON AGDAY, WE'LL HAVE THE LATEST CATTLE ON FEED NUMBERS FROM THE USDA. PLUS MACHINERY PETE JOINS US FROM HIS RECENT TRAVELS TO AUCTION--HE'LL HAVE THE LATEST TRENDS FROM THE FIELD. MONDAY ON AGDAY. FOR AG NEWS THAT MATTERS.

 

 

 

 

 

 

 

 

 

 

 

 

 <​/p>

 

 

 

 

 

 

 

 

&nbs​p;

 

 

 

 

 

 

 

 

&​nbsp;

 

 

 

 

 

 

 

 

<​p> 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 ​

 

 

 

 

 

 

 

 

&nb​sp;

 

 

 

 

 

 

 

 

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