AgDay Daily Recap -Feb. 23, 2016

February 23, 2016 02:57 AM
 

TODAY ON AGDAY
FEB. 23, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY
LONG TERM PROJECTIONS FOR MAJOR COMMODITIES DON'T SHOW MUCH UPSIDE POTENTIAL.
INDIANA SAYS IT APPEARS ITS AVIAN FLU OUTBREAK IS OVER.
IN AGRIBUSINESS...A READING OF FUTURE PLANTING INTENTIONS.
"IT’S A COST CUTTING YEAR SO ANY ACRES THAT ARE AVAILABLE TO GO TO EITHER CROP WILL PROBABLY GO TO BEANS OVER CORN."
AND THE INSPIRING STORY OF A TEXAS COMMUNITY'S OUTPOURING OF LOVE AND SUPPORT FOR A FELLOW PRODUCER FIGHTING FOR HIS LIFE.
USDA FORECASTS INCOME REBOUNDS TO COME:
GOOD MORNING I'M CLINTON GRIFFITHS.
THIS YEAR'S NET FARM INCOME LOOKS BLEAK, BUT USDA FORECASTS BETTER TIMES TO COME.
NET FARM INCOME IS EXPECTED TO DROP 56 PERCENT THIS YEAR COMPARED TO THE HIGHS FARMERS
RECEIVED BACK IN 2013. BUT USDA SAYS INCOMES SHOULD REBOUND 4 PERCENT ANNUALLY FOR MOST PRODUCERS THROUGH 2025. NATIONAL REPORTER BETSY JIBBEN TAKES A CLOSER LOOK.
USDA PROJECTION REPORT:
USDA'S 10-YEAR PROJECTIONS REPORT IS RELEASED EVERY YEAR AS PART OF ITS BUDGETING PROCESS. IN THIS AGRICULTURAL PROJECTIONS TO 2025 REPORT, USDA SAYS MOST OF THE FASTEST GAINS COULD BE ON THE ROW CROP SIDE.
USDA EXPECTS FLAT PRICES FOR CORN AND MODEST GAINS FOR WHEAT AND SOYBEANS OVER 10-YEARS.  THE REPORT EXPECTS CORN PRICES TO RANGE FROM $3.60-TO $3.75 THROUGHOUT THE DECADE. FOR WHEAT, THAT'S $4.40 TO $4.95. AND $8.90 TO $9.35 FOR SOYBEANS.
CHRIS NO-VOK, CEO OF THE NATIONAL CORN GROWERS ASSOCIATION SAYS FARMERS ALREADY HAVE THE MINDSET OF TIGHTENING BELTS AND MANAGING MARGINS AS BEST AS THEY CAN.
THE DEPARTMENT FORECASTING LIVESTOCK WILL RECOVER BY THE END OF THE DECADE.

ECONOMISTS ANTICIPATE PORK, BEEF AND POULTRY PRICES TO STRUGGLE FOR A WHILE, BUT MILK MARKETS MAY BE THE FIRST TO CLIMB HIGHER.
CHINESE GRAIN IMPORTS TO DECLINE
USDA EXPECTS CHINESE IMPORTS OF GRAINS WILL DECLINE OVER THE NEXT FEW YEARS AS THE COUNTRY DEALS WITH LARGE DOMESTIC STOCKS.
COVER CROPS GIVE FARMERS HEALTHIER SOIL AND CONTAIN RUN-OFF:
COVER CROPS CONTINUE TO GAIN ACCEPTANCE AS WAY TO REDUCE RUNOFF AND IMPROVE SOIL HEALTH. LSU AGCENTER'S CRAIG GAUTREAUX REPORTS...FINDING THE RIGHT TYPE OR MIX IS THE KEY TO SUCCESS.
SOUTHERN INDIANA CLEAR OF AVIAN FLU:
HEALTH OFFICIALS OFFICIALLY LIFTING THE SIX MILE CONTROL AREA AROUND THE SOUTHERN INDIANA REGION AFFECTED BY HIGH-PATH AVIAN FLU.
THE STATE VET, SAYS POULTRY OWNERS, BOTH COMMERCIAL AND RESIDENTIAL IN THAT ARE NOW FREE TO RESUME NORMAL OPERATIONS AND MOVEMENTS OF BIRDS AND PRODUCTS.
THE STATE BOARD OF ANIMAL HEALTH SAYS IT'S ENDED TESTING AND SURVEILLANCE IN THE AREA.
NO NEW CASES OF H-7-N-8 HAVE BEEN FOUND SINCE MID-JANUARY MORE THAN 400-THOUSAND TURKEYS AND CHICKENS WERE EUTHANIZED TO CONTAIN THE OUTBREAK.
THOSE FARMS ARE STILL UNDER QUARANTINE UNTIL CLEANUP IS COMPLETE.
CROP COMMENTS:
IN OTHER PARTS OF THE COUNTRY. FOR THAT, WE TURN TO MIKE HOFFMAN FOR THIS MORNING'S CROP COMMENTS. MIKE
 GOOD MORNING CLINTON.
GOOD RAINS AND GROWING CONDITIONS ARE HELPING NEW MEXICO PECAN FARMERS.
STATE SPECIALISTS SAY THE GROWING SEASON WAS UNUSUAL, WITH WETTER CONDITIONS BECAUSE OF EL NINO.
WEATHER PREVIEW:
HERE’S A LOOK AT THE WEATHER MAP A BIG STORM SYSTEM DEVELOPING IN THE SOUTHERN PLAINS THAT’S GOING TO CAUSE A LOT OF ISSUES AS IT MOVES OFF TO THE NORTH EAST I’LL HAVE YOUR FORECAST BUT FIRST HERE ARE SOME HOMETOWN TEMPS BUT FIRST HERE ARE SOME HOMETOWN TEMPS.
TEASE:
WHEN WE COME BACK, WE'LL TAKE A LOOK AT ACREAGE PROJECTIONS AND WHY EVERYTHING UP UNTIL USDA'S MARCH PLANTING INTENTIONS REPORT IS JUST A GUESS.
AND LATER A COMMUNITY HONORS ONE OF THEIR OWN AS THEY FACE THE BATTLE OF A LIFETIME. THE INSPIRING STORY FROM THE LONE STAR STATE LATER ON AGDAY.
AGRIBUSINESS:
JOINING ME HERE AT THE AGRIBUSINESS DESK I HAVE DUSTIN JOHNSON WITH AGYIELD. DUSTIN, LET'S TALK ABOUT THIS FEBRUARY OUTLOOK THAT WE EXPECT TO GET THIS WEEK FROM USDA.> WELL, I THINK THE BIGGEST THING IS THAT EVERY YEAR THE MARKET LOOKS FOR DIRECTION AROUND THIS TIME. YOU KNOW THERE IS NOT A WHOLE LOT GOING ON, PAST THE SOUTH AMERICAN WEATHER EVENT. WE ARE KIND OF SEARCHING FOR HEADLINES, SO THIS IS A BUNCH OF ECONOMISTS THAT ARE PUSHING PAPER AND TRYING TO FIGURE OUT WHAT THEY EXPECT FOR THE YEAR FOR GROWERS TO PLANT AND I WOULD CAUTION TO SAY THAT THIS IS USUALLY NOT WHAT WE RELY ON FOR HARD DATA.> OK, NOW EXPLAIN. WHY IS THAT?> OK, WELL THE MARKET IS GOING TO DECIDE WHAT IS GOING TO GET PLANTED, SO WE ACTUALLY HAVE TO WAIT TILL THE MARCH 31 PLANTING INTENTIONS REPORT, BEFORE WE ACTUALLY GET SOME RELIABLE DATA, NOT JUST WHAT THE GUYS IN WASHINGTON BELIEVE
MACHINERY PETE PITCH:
THIS IS MACHINERY PETE--INVITING YOU TO CHECK OUT MY NEW WEBSITE -MACHINERYPETE.COM -OFFERING FARMERS TENS OF THOUSANDS OF USED EQUIPMENT LISTING TO SEARCH. LET MACHINERY PETE HELP YOU FIND AND VALUE YOUR NEXT PIECE OF USED EQUIPMENT.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY. METEOROLOGIST MIKE HOFFMAN HERE WATCHING A PRETTY BIG STORM BUILD IN THE SOUTHERN PLAINS. LAST WEEK WE DIDN'T SEE A LOT OF ACTIVITY. THIS IS GOING TO BE A BIG DEAL AS IT  HEADS OFF IN THE NORTHEAST. ELSEWHERE ACROSS THE COUNTRY, THERE JUST ISN'T A LOT GOING ON, A WEAKENING COLD FRONT WILL BE APPROACHING THE WEST COAST. LET'S JUST FOCUS ON THIS STORM SYSTEM IN THE SOUTHEAST. A LITTLE BIT OF ACTIVITY IN THE NORTHERN PLAINS WITH THAT SYSTEM AS WELL. PUTTING THE MAPS INTO MOTION, STORM SYSTEM TRACKS QUICKLY OFF TO THE NORTHEAST IN THE WARM SECTOR, SOUTH OF THE WARM FRONT AND EAST OF THE COLD FRONT. SEVERE WEATHER IS POSSIBLE AHEAD OF THE COLD FRONT.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL, FOR MILES CITY, MONTANA, IT'S PARTLY SUNNY AND BREEZY AT TIMES. THE HIGH IS UP TO 48. LAKE CHARLES, LOUISIANA, A COUPLE OF THUNDERSTORMS. IT COULD BE HEAVY OR SEVERE IN SPOTS. THE HIGH IS 73 AND PITTSBURGH, SUNSHINE AND THEN INCREASING CLOUDS IN THE AFTERNOON. THE HIGH IS AROUND 54.

COMMODITY CLASSIC PITCH:
IF YOU'RE HEADING TO COMMODITY CLASSIC THIS YEAR, WHY DON'T YOU JOIN US FOR SEVERAL EVENTS WE'RE HOSTING WITH THE FARM JOURNAL FAMILY.
THURSDAY, I'LL BE AT THE DEKALB BOOTH FROM ONE TO TWO P.M. TALKING WITH KEN FERRIE ABOUT GROWING YIELDS IN AN ERA OF LOW PRICES. ON FRIDAY, OUR PARTNERS AT AGRITALK WILL START AROUND 6-A.M. WITH A TAPING OF THEIR FRIDAY FREE FOR ALL.
U.S. FARM REPORT AND IT'S MARKETING ROUNDTABLE DISCUSSION KICKS OFF RIGHT AFTER AT 7 A.M.
I'LL BE THERE ALONG WITH JOHN PHIPPS, TYNE MORGAN, CHIP FLOREY AND MIKE ADAMS.
THEN LATER THAT DAY, TYNE AND MACHINERY PETE-GREG PETERSON WILL BE BACK AT THE DEKALB BOOTH FOR A DISCUSSION ON THE FARM MACHINERY MARKET.
IT'S A BUSY WEEK--MAKE PLANS TO JOIN US.
TEASE:
ALRIGHT WHEN AGDAY CONTINUES ON THIS TUESDAY MORNING, WE'LL CHECK USDA'S LATEST CATTLE INVENTORY NUMBERS.
AND LATER A TEXAS TOWN HONORS AN AG LEGEND AND VETERAN FACING A DIFFICULT ROAD FROM A DEBILITATING DISEASE.
DAIRY REPORT:
OUR DAIRY REPORT STARTS IN THE FEEDLOT. THE USDA'S LATEST CATTLE ON FEED NUMBERS SHOW A TOTAL OF 10.7 MILLION HEAD AS OF FEBRUARY FIRST. THAT'S JUST SLIGHTLY LOWER THAN A YEAR AGO.
PLACEMENTS--OR CATTLE COMING INTO FEEDYARDS WERE ALSO DOWN A BIT (1.%) AT 1.78 MILLION.
WHILE MARKETINGS OF FED CATTLE ROSE IN JANUARY TO 1.59 MILLION HEAD..UP 2 PERCENT BUT STILL THE LOWEST JANUARY TOTAL SINCE THE SERIES BEGAN IN 1996.
 FEEDERS LOSE MORE THAN 50 BUCKS A HEAD:
FEEDLOTS STILL STRUGGLING TO MAKE CURRENT PRICES WORK. FEEDERS SEEING LOSSES INCREASE MORE THAN 50 BUCKS A HEAD TO 318 DOLLARS ON EVERY ANIMIAL.
THAT COMES FROM THE STERLING BEEF PROFIT TRACKER. THE FIVE AREA PRICE AT 132 PER HUNDRED LAST WEEK.

LICENSED DAIRY FARM NUMBERS FALL:
AS WE MENTIONED LAST WEEK, THE USDA RELEASED ITS LATEST FARM NUMBERS. LICENSED DAIRY FARMS FELL 12-HUNDRED 25 OPERATIONS...DOWN NEARLY 3 PERCENT YEAR OVER YEAR.
CURRENTLY THERE ARE ABOUT 43 AND A HALF THOUSAND DAIRIES IN THE U.S. WITH AN AVERAGE HERD SIZE OF 215 COWS.
THE NATION'S 9 POINT 3 MILLION HEAD OF COWS INCREASING MILK PRODUCTION JUST SLIGHTLY IN JANUARY.
PRODUCTION DROPS:
CALIFORNIA MILK PRODUCTION DROPPING FOR THE 14 CONSECUTIVE MONTH.
NEW MEXICO PRODUCTION FELL 12 PERCENT ON 13THOUSAND FEWER CATTLE, WHILE TEXAS LOST 15THOUSAND COWS--LOSING ALOST 7 PERCENT OF PRODUCTION.  BOTH STATES LIKELY REFLECTING FALL OUT FROM THE CHRISTMAS BLIZZARD. THE REPORT ALSO GIVING A FINAL NUMBERS TO 2015. PRODUCTION WAS UP ABOUT A PERCENTAGE POINT RISING ABOVE 208 BILLION POUNDS.
MILK PER COW AVERAGED BETTER THAN 22-THOUSAND POUNDS IN 2015.
THE INSPIRING STORY AS A TEXAS COMMUNITY RALLY'S AROUND A FRIEND AND NEIGHBOR BATTLING A-L-S. THAT'S NEXT.
IN THE COUNTRY:
AG COMMUNITIES ARE KNOWN FOR THEIR WILLINGNESS TO HELP OTHERS IN NEED.
THAT'S DEFINITELY TRUE IN ONE TEXAS COMMUNITY FOLLOWING THE DIAGNOSIS OF A-L-S FOR ONE OF THEIR OWN.
NEIGHBORS AND FRIENDS GAVE THEIR TIME AND EQUIPMENT TO HONOR A FARMING LEGEND AND VETERAN, LETTING HIM KNOW HE'S NOT ALONE. 
CLOSING:
JESSICA DOMEL WITH THE TEXAS FARM BUREAU REPORTS. THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.
FOR MIKE HOFFMAN, AND BETSY JIBBEN. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
IM CLINTON GRIFFITHS. A NATIONAL GMO BILL IS EXPECTED OUT OF WASHINGTON-WE'LL HAVE REACTION FROM FARM COUNTRY. AND IN ANALYSIS, WE'LL DISCUSS STRATEGIES ON HOW TO CAPTURE THE BEST MARKET MOVES CREATED BY THE WEATHER. JOIN ME WEDNESDAY FOR 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