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AgDay Daily Recap -February 24, 2015

08:57AM Feb 24, 2015

TODAY ON AGDAY
FEBRUARY 24, 2015

OPEN HEADLINES:
COMING UP TODAY ON AGDAY THE FARM ECONOMY IS HEADING FOR A SHARP ADJUSTMENT. EQUIPMENT MAKERS ARE FEELING THE PINCH. A NEW DEAL GETS WEST COAST PORTS BACK TO WORK. IN AGRIBUSINES....IN A YEAR OF TIGHT MARGINS-- BE PREPARED AT THE LENDER. IT'S WHO YOUR'RE PARTNERED WITH YOUR AG LENDER ON THE BAD YEARS THAT I THINK IS THE GREATEST CHALLENGE IN AGRICULTURE TODAY CAN THE U.S. SHEEP INDUSTRY CATCH UP WITH NEW ZEALAND. PLUS, MILK PRODUCTION SEES A STRONG INCREASE IN 2014.  AND SHORT SUPPLIES OF CRAWFISH HAVE LOUISIANA FARMERS RAMPING UP PRODUCTION.
DEERE CO EARNINGS:
DEERE & COMPANY IS FEELING THE PINCH OF FARMERS HOLDING ONTO THEIR CASH. THE COMPANY'S FIRST-QUARTER RESULTS ARE DOWN A WHOPPING 19-PERCENT IN NET SALES IN THE FIRST QUARTER. THE EQUIPMENT MAKER ALSO LOWERED FULL-YEAR ESTIMATES FOR NET INCOME AND EQUIPMENT SALES.
LABOR DISPUTE SETTLED:
WORK IS SLOWLY RETURNING BACK TO NORMAL AT SHIPPING PORTS ALONG THE WEST COAST AFTER SHIPPING COMPANIES AND DOCKWORKERS REACHED AN AGREEMENT OVER THE WEEKEND. BOTH SIDES MUST STILL RATIFY THE DEAL. NONETHLESS WORK RESUMED AT THE 29 PORTS.
MEAT COLD STORAGE:
SHIPPING DISRUPTIONS AT WEST COAST PORTS PUSHED MORE PORK AND BEEF INTO FROZEN STORAGE THAN ANTICIPATED DURING JANUARY.  THAT'S WHAT USDA'S JUST-RELEASED COLD STORAGE REPORT SHOWS. AS OF JANUARY 31 FROZEN PORK STOCKS TOTALLED 596 MILLION POUNDS. THAT'S NEARLY 19-PERCENT HIGHER THAN DECEMBER. JANUARY BEEF STOCKS CAME IN AT 490-MILLION POUNDS. THAT'S AN ELEVEN PERCENT JUMP. AND POULTRY STOCKS TOTALLED MORE THAN A BILLION POUNDS, UP NEARLY 12-PERCENT FROM DECEMBER LEVELS.
CROP WATCH:
FROM SUB-ZERO TEMPERATURES TO THE NORTH TO SNOW AND ICE IN THE SOUTH…MIKE HOFFMAN HAS DETAILS IN THIS MORNING'S CROPWATCH.
TEASE:
ALRIGHT THANKS MIKE. JUST AHEAD A DAY OF RED ON THE MARKET BOARDS…WE'LL FIND OUT WHY PLUS A DISCUSSION ON BORROWING MONEY IN A TOUGH FINANCIAL YEAR. AL PELL LEADS THAT CONVERSATION.
ANALYSIS INTRO:
AS WE TALKED ABOUT EARLIER IN THE SHOW, THE YEAR AHEAD LOOKS TO BE A CHALLENGE FOR MARGINS.IN THIS MORNING'S ANALYSIS FARM DIRECTOR AL PELL DISCUSSES THAT AND BORROWING STRATEGIES AT THE AGRIBUSINESS DESK. AL
TEASE:
STILL TO COME, THE NUMBER OF MILK COWS IN THE COUNTRY IS CLIMBING QUICKLY. WE'LL HAVE DETAILS AND PRODUCTION NUMBERS NEXT IN OUR DAIRY TODAY REPORT.
DTR MILK PRODUCTION:
IN OUR DAIRY TODAY REPORT, USDA ROLLING OUT THE ANNUAL MILK PRODUCTION NUMBERS FOR 2014. U.S. PRODUCERS PUMPING 206 BILLION POUNDS LAST YEAR --UP NEARLY 2 AND A HALF PERCENT…PER COW PRODUCTION CLIMBING 440 POUNDS---NOW ABOVE THE 22-THOUAND POUND MARK…PER COW PRODUCTION IS NOW INCREASING AT A RATE OF NEARLY 14 PERCENT A YEAR SINCE 2005. AS OF JANUARY THERE WERE 8 POINT 6 MILLION HEAD OF MILK COWS IN THE 23 MAJOR STATES. THAT'S UP MORE THAN 100-THOUSAND HEAD CMPARED TO YEAR AGO NUMBERS.
DTR SOY TRANSPORTATION:
FEED HAULERS AND GRAIN TRUCKERS MAY BE INTERESTED IN THE LATEST STUDY FROM THE SOY TRANSPORTATION COALITION. IT'S LOOKING INTO THE IDEA OF INCREASING AMOUNT TRUCKS CAN CARRY ON FEDERAL ROADWAYS.
ITC CRAWFISH:
WITH THE ARRIVAL OF LENT, FISH EVEN CRAWFISH TYPICALLY SEES AN UPTICK IN POPULARITY. UNFORTUNATELY FOR CONSUMERS, CRAWFISH ARE IN SHORT SUPPLY RIGHT NOW. BUT AS CRAIG GAUTREAUX WITH THE LSU AGCENTER REPORTS, A REBOUND IN PRODUCTION MAY BE ON THE WAY.
CLOSE:
THANKS CRAIG. HE SAYS LAST YEAR, NEARLY 102 MILLION POUNDS OF CRAWFISH WERE HARVESTED FROM PONDS ACROSS LOUISIANA WITH A FARM VALUE OF MORE THAN $137 MILLION DOLLARS. THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.

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