AgDay Daily Recap -Jan. 14, 2016

January 14, 2016 02:57 AM
 

TODAY ON AGDAY
JAN. 14, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY,
WASHINGTON MAKES ANOTHER ATTEMPT TO SCRAP THE WOTUS BILL.
LEADERSHIP CHANGE AT THE AMERICAN FARM BUREAU…
"I WANT TO THANK YOU FOR YOUR HEARTS, AND I'M GOING TO WORK FOR YOUR SOUL."
IN AGRIBUSINESS-ANALYZING SOUTH AMERICA'S ROLLER COAST WEATHER AND HOW IT COULD IMPACT GRAIN PRODUCTION.
"A LOT OF FARMERS DOWN THERE ARE PROBABLY DISAPPOINTED THAT WHERE THE MARKET HIT THE FREE MARKET WAS A LITTLE LESS THAN 14 TO 1."
AND THESE PRODUCERS ARE WELCOMING FRIGID TEMPS WITH A SWEET, COLD DRINK.
RESOLUTION OF DISAPPROVAL FILED TO COMBAT WOTUS:
GOOD MORNING I'M BETSY JIBBEN. A MOSTLY SYMBOLIC PIECE OF LEGISLATION -CRITICAL OF THE "WOTUS" RULE -IS NOW HEADED TO THE PRESIDENT'S DESK....WHERE IT'LL LIKELY SIT.
THE HOUSE OF REPRESENTATIVES PASSED A "RESOLUTION OF DISAPPROVAL" WHICH TARGETS THE
'WATERS OF THE U-S RULE".
THE SENATE PASSED THE SAME RESOLUTION IN NOVEMBER. IT'S NOW HEADED TO THE PRESIDENT'S
DESK.
THE WHITE HOUSE HAS SAID IN THE PAST IT WOULD VETO THE MEASURE.  THE RESOLUTION CALLS FOR E-P-A TO SCRAP THE EXPANDED WOTUS RULE.
IOWA SENATOR JONI ERNST -WHO AUTHORED THE RESOLUTION -SAYS "PRESIDENT OBAMA MUST NOW DECIDE BETWEEN AN UNCHECKED FEDERAL AGENCY OR THE LIVELIHOODS OF THOSE IN OUR RURAL COMMUNITIES WHO SAY THIS RULE MUST BE STOPPED. "
FORMER FARM BUREAU PRESIDENT BOB STALLMAN ECHOES THAT SENTIMENT.
"GENERATIONS OF FARMERS AND RANCHERS HAVE SURVIVED BAD MARKETS AND BAD WEATHER BUT BAD GOVERNMENT SHOULD NOT BE THE STRAW THAT BREAKS US.) IN 2015 WE SAW ONE OF THE FIRST EXAMPLES OVER REGULATIONS WITH EPAS AND CORPS WOTUS RULE. WHEN RAIN WATER RUNNING ACROSS A FARM FIELD IS ALL IT TAKES TO ALOOW FOR FEDERAL AGENICES TO SAY YOU CAN'T USE YOUR LAND. THAT'S GOVERNMENT REGULATION RUN AMOK."
ZIPPY DUVALL ELECTED NEW AFBF:
MEANWHILE, STALLMAN HAS NOW OFFICIALLY HANDED OVER THE GAVEL TO HIS PREDECESSOR.
FARM BUREAU DELEGATES ELECTED ZIPPY DUVALL AS THE NEXT PRESIDENT OF AMERICAN FARM BUREAU. IT'S A TWO YEAR TERM.
DUVALL IS THE NOW-FORMER PRESIDENT OF THE GEORGIA FARM BUREAU. 
DUVALL CREDITED BOB STALLMAN FOR LEADING THE GENERAL FARM LOBBY GROUP FOR 16 YEARS. HE PLEDGES TO LEAD THE CHARGE FOR FARMERS.
"WE'RE GOING TO WORK HARD FOR AMERICAS FARMERS AND RANCHERS ACROSS THIS COUNTRY."
"WE ARE AMERICAN FARMERS AND RANCHERS. THE PEOPLE WHO LEAD AND FEED AND FUEL THE WORLD."
IT IS A RESPONISIBILITY THAT COMES TO MY SHOULDER THAT I CARRY EACH AND EVERY DAY REALIZING THE BURDEN YOU CARRY ON YOUR SHOULDERS. DELEGATES ALSO ELECTED A NEW VICE PRESIDENT.
SCOTT VANDER-WALL IS A THIRD-GENERATION FAMILY FARMER FROM VOLGA, SOUTH DAKOTA. HE'S BEEN PRESIDENT OF THE SOUTH DAKOTA CHAPTER SINCE 2004.
AG SECRETARY TOM VILSACK SAID MONDAY DURING THE FARM BUREAU CONVENTION THAT HE WILL BROKER THE TALKS. VILSACK SAYS BRINGING OPPONENTS TOGETHER IS THE FIRST STEP TOWARDS A NATIONAL LABELING LAW.  AS WE'VE REPORTED, VERMONT WILL BE THE FIRST STATE TO REQUIRE GMO FOOD LABELING. IT GOES INTO EFFECT THIS SUMMER. MANY IN FOOD INDUSTRY WANT TO AVOID VERMONT'S LAW BY CREATING A NATIONAL STANDARD. 
VILSACK SAYS USDA'S ROLE IS TO SEE IF THERE IS CONSENSUS TO BE FOUND. AND IF SO, MAKE A RECOMMENDATION TO CONGRESS.
"FROM MY MY PERSPECTIVE MAKE SURE THAT IF THAT RIGHT IS RESPECTED THAT IT DOESN'T SEND THE WRONG MESSAGE ABOUT THE SAFETY OF FOOD PRODUCED WITH GMO. BECAUSE WE KNOW THERE'S NOT A SAFETY ISSUE THERE. THIS ISN'T ABOUT SAFETY. THIS IS ABOUT CONSUMERS RIGHT TO KNOW...AND DOING IT IN A WAY THAT DOESN'T CREATE A MISPERCEPTION OF THE PRODUCT."
VILSACK SAYS AFTER THE MEETING, HE WILL SHARE WITH LEADERSHIP OF THE AG COMMITTEES ON THE "MOOD" AND "TENOR" OF THE MEETING.


LAKE EFFECT STORMS:
THINK YOU'RE HAVING A HARD TIME SCRAPING ICE AND SNOW FROM YOUR CAR OR TRUCK? WELL TAKE A LOOK AT THIS!
A PARKED CAR WAS FROZEN IN A BLOCK OF ICE IN BUFFALO NEW YORK AS LAKE-EFFECT STORMS BLANKETED PARTS OF WESTERN AND NORTHERN COUNTIES WITH MORE THAN 2 FEET OF SNOW. 
THE NATIONAL WEATHER SERVICE SAYS WIND-DRIVEN STORMS OFF THE EASTERN END OF LAKE ERIE DUMPED UP TO 25 INCHES ON AREAS SOUTH OF BUFFALO ON MONDAY. LAKE ONTARIO STORMS HAVE DROPPED 26 TO 34 INCHES ON AREAS IN NEIGHBORING JEFFERSON AND LEWIS COUNTIES, NORTH OF SYRACUSE.
CROP WATCH:
LET'S CHECK IN WITH MIKE HOFFMAN FOR THIS MORNING'S CROPWATCH. MIKE?
LET'S START OFF CROPWATCH IN LANSING, MICHIGAN. ROBERT REESE SENT US THIS PHOTO. HE SAYS IT'S A TYPICAL WINTER IN MICHIGAN-COLD AND SNOWY. HE SAYS IT'S BEEN A BAD WEEK FOR TRUCKING GRAIN BUT A GREAT WEEK FOR PLOWING SNOW!
TEASE:
AND TAKING A LOOK AT THE WEATHER MAP LOOK AT THAT ANOTHER STORM COMING INTO THE WEST COAST AND ANOTHER ONE MOVING THROUGH THE UPPER MIDWEST WE’LL LET YOU KNOW WHERE ALL OF THAT IS HEADED COMING UP IN JUST A FEW MINUTES AHEAD ON AGDAY MAJOR WEATHER SHIFT IN SOUTH AMERICA AND ITS IMPACT ON GRAIN PRODUCTION.
AND VINEYARDS OWNERS CHEERS-ING THE FRIGID TEMPS WITH ICE-WINE. THAT'S LATER-IN THE COUNTRY.
CME:
LET'S SEE HOW GRAIN MARKETS CLOSED IN CHICAGO WEDNESDAY. WE GET DETAILS FROM THE CME FLOOR.
WEDNESDAY'S GRAIN TRADE SAW SOME FOLLOW THROUGH ACROSS THE BOARD WITH THE EXCEPTION OF WHEAT. WHEAT WAS UNCHANGED. OVERALL AGAIN, WE LIKE THE SPACE HERE. WE THINK THESE ARE GOOD LEVELS TO BE BUYERS OF OR IF YOU'RE AN OWNER, FARMER, PRODUCER, A HOLDER OF. THIS IS TODD HOROWITZ WITH BUBBATRADING.COM, COMING TO YOU FROM THE CME FLOOR IN CHICAGO.


AGRIBUSINESS INTRO:
OUR PARTNERS AT PROFARMER SAY A MAJOR SHIFT IN WEATHER CONDITIONS IS BRINGING AN ABUNDANCE OF MOISTURE TO BRAZIL. METEOROLOGISTS SAY A WEAKENING EL NINO IS NOW BRINGING HEAVIER RAINFALL TO THE TROPICS WHERE CONDITIONS PREVIOUSLY HAD BEEN DRY.
AGRIBUSINESS:
HERE AT THE AGRIBUSINESS DESK WE HAVE GREG HUNT, LONG TIME TRADER, GOOD TIME FRIEND. GREG, WE APPRECIATE YOU BEING HERE. LET'S TALK ABOUT WHAT'S GOING ON IN SOUTH AMERICA, BECAUSE WE KEEP WATCHING THEIR PRODUCTION DOWN THERE. WE HAVE SEEN BRAZIL AND THEY HAVE HAD SOME STRUGGLES IN THEIR OWN ECONOMY, NOW ARGENTINA IS MAKING SOME CHANGES. A LOT OF STUFF HAPPENING.> YEAH, IT'S A CONTRAST DEFINITELY IN ARGENTINA. THEY ARE GOING FOR MORE OF A SOCIAL PROGRAM STATE. YOU KNOW, THEY CAN'T GET ANY INTERNATIONALLY FINANCE. THEY HAVE BECOME SINGER IN THE BOARDS OF THE HEDGE FUNDS IN NEW YORK, TO MACRI TAKING OVER NOW. A LITTLE MORE OF MACRI ORDINATE GUY, AGAIN HE LIVED UP TO HIS PROMISE. HE DEVALUED ON THE DAY HE ENTERED OFFICE. A LOT OF FARMERS DOWN THERE ARE PROBABLY DISAPPOINTED WHERE THE MARKET HIT IN THE FREE MARKET WAS A LITTLE LESS THAN 14 TO ONE AND THE BLACK MARKET OR WHAT THEY CALL THE BLUE DOLLARS HAD ONLY A MONTH OR SO BEFORE RAN UP TO ABOUT 15 AND A HALF.
TEASE:
MOST OF THE FOCUS IS ON GRAINS IN USDA REPORT. BUT WE'LL TELL YOU WHAT IT MEANS TO LIVESTOCK MARKETS IN THIS WEEK'S PROFARMER PROFIT BRIEFING FRIDAY ON AGDAY.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN. MIKE, YOU WERE TELLING ME EARLIER, THAT WE MAY SEE JUST A LITTLE BIT OF RELIEF WITH A WARMUP BEFORE THOSE COOLER TEMPERATURES JUST COME BACK AGAIN IN THE CORN BELT. YES, THAT LOOKS LIKE ABOUT TWO DAYS IN SOME AREAS. THAT MAY BE A NICE THAW FOR SOME FOLKS BUT THEN IT'S BACK TO REALITY ONCE AGAIN MORE ACRTIC AIR AND THAT'S GOING TO BE COMING ACROSS THAT COLD FRONT IN CENTRAL PORTIONS IN MONTANA, THAT NEXT BATCH OF ARCTIC AIR.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR GREAT FALLS, MONTANA, CLOUDY WITH SOME LIGHT SNOW. THE HIGH TEMPERATURE IS UP TO 35. SAN ANTONIO, TEXAS HAS CLOUDS WITH SUNSHINE. IT COULD BE A SHOWER IN SOME AREAS. THE HIGH IS 65. AND IN MONTPELIER, VERMONTIS CLOUDY AND COLD WITH A SNOW SHOWER OR TWO. THE HIGH IS 34.

TEASE:
UP NEXT, WE GET AN UPDATE FROM OUR PARTNERS AT BEEF TODAY....INCLUDING THE LATEST NUMBER ON BEEF EXPORTS.
AND AS A COLD-BLAST CHARGES ACROSS MUCH OF THE COUNTRY, NOW'S A PERFECT TIME TO THINK ABOUT WINE -ICE WINE, THAT IS.
DETAILS AS WE HEAD IN THE COUNTRY TO NEW YORK.

BEEF MARGINS A SLIPPERY SLOPE:
IN OUR BEEF TODAY REPORT, CATTLE FEEDERS SAW THEIR MARGINS SLIP FURTHER INTO THE RED LAST
WEEK. MARGINS SLIPPED ANOTHER 43 DOLLARS INTO THE RED. CLOSEOUTS REVEALED A 383 DOLLAR PER HEAD LOSS ON CASH PRICES. THE STERLING PROFIT TRACKER SAYS PART OF THE LOSS IS CREDITED TO LAST WEEK'S VOLITALITY ON WALL STREET.
RELATED CONTENT
PROFIT TRACKER: MARGINS IMPROVE 20% 12/29/2015 5:32:00 PM
PROFIT TRACKER: MARGINS IMPROVE 38% 1/6/2016 4:11:00 PM
LAST WEEK'S DIP IN CASH PRICES WAS LOOSELY TIED TO THE NEW YEAR
SELLOFF ON WALL STREET, AND A LITTLE SURPRISING TO FEEDERS WHO HAD
PRICED THEIR WEEKLY SHOWLISTS AT $140 PER CWT. LAST WEEK'S 5AREA
CASH PRICE WAS $29.46 PER CWT. SHORT OF BREAKEVEN.
PORK PRODUCERS SEE MARGINS DECLINE:
FARROW-TO-FINISH PORK PRODUCERS LOST $23 PER HOG LAST WEEK, A $5 PER HEAD IMPROVEMENT FROM THE PREVIOUS WEEK, AND $2 PER HEAD BETTER THAN THE $25 PER HEAD LOSS FOUND A MONTH AGO.
PORK PACKERS SAW THEIR MARGINS DECLINE $2.90 PER HEAD TO A PROFIT OF $23. NEGOTIATED PRICES FOR LEAN HOGS WERE $52.72 PER CWT. LAST WEEK, A GAIN OF $1.84 PER CWT. FROM THE PREVIOUS WEEK.
CASH PRICES FOR FED CATTLE ARE $37 PER CWT. LOWER THAN LAST YEAR,AND NEGOTIATED HOG PRICES ARE $23 PER CWT. LOWER THAN LAST YEAR.
 THE REASON IS THAT FEEDLOTS PAID TOO MUCH FOR FEEDER CATTLE. THOSE PRICES WERE WAY TOO HIGH. AND IT TAKES 4-6 MONTHS FOR THOSE HIGHER PRICES TO WORK THEMSELVES THROUGH THE
MARKET."
BEEF EXPORTS:
NOW TO EXPORTS -THE U-S MEAT EXPORT FEDERATION SAYS NOVEMBER BEEF LEVELS WERE DOWN A PERCENTAGE POINT IN NOVEMBER BUT THE VOLUME WAS THE LARGEST SINCE THIS SUMMER. OVERALL THE SHIPMENTS ARE OFF 11 PERCENT. THE U.S. LOST MARKET SHARE TO AUSTRALIA IN 2015.
THE M-E-F SAYS THE BIGGEST REASON IS AUSTRALIA'S 10 PERCENT POINT TARIFF ADVANTAGE PUT IN PLACE DURING A JOINT ECONOMIC PARTNERSHIP AGREEMENT BETWEEN JAPAN AND THE AUSSIE'S USDA'S AGRICULTURAL MARKETING SERVICE IS GETTING RID OF A LABELING PROGRAM FOCUSED ON GRASS-FED MEAT.
AMS SAYS THIS TYPE OF LABLELING MAY NOT FIT WITHIN THE AGENCY'S STATUORY AUTHORITIES. THE AGRICULTURAL MARKETING SERVICE SAID IN A FEDERAL REGISTER NOTICE THAT IT COULDN'T GUARANTEE THE FOOD SAFETY AND INSPECTION SERVICE WOULD USE THE SAME GUIDELINES IN OVERSEEING PACKING PLANTS.
TEASE:
STILL TO COME -WINE GROWERS ARE BUNDLING-UP AND LOOKING FOR SOME HIGH-VALUED GRAPES DURING THE COLDEST DAY OF THE YEAR. . . WHEN AGDAY CONTINUES.
IN THE COUNTRY:
WINTER FINALLY CAME DOWN HARD ON NEW YORK STATE'S WINE COUNTRY THIS MONTH WITH SINGLEDIGIT TEMPERATURES AT DAWN AND SNOW BLOWING OVER THE ROLLING VINEYARDS. THAT MEANS THE LONG WAIT FOR A VERY TIME-SPECIFIC WINE IS OVER. MICHAEL HILL REPORTS ON ICE-WINE CONOSSIEURS WHO SAY "CHEERS" TO THE CHILL.
WHEN THE MERCURY PLUMMETS, IT'S TIME TO MAKE ICE WINE. THE KEY IS TO PICK AND PRESS WHEN IT GETS FRIGID. GRAPES FROZEN ON THE VINE YIELD A SWEETER JUICE.
"WHEN WE PRESS THE FROZEN GRAPES WE GET THIS INCREDIBLY COMPLEX JUICE, BUT ONLY A SMALL AMOUNT. THE FINGER LAKES IN UPSTATE NEW YORK IS ONE OF THE FEW WINEGROWING AREAS IN THE COUNTRY WITH THE WINTRY WEATHER NEEDED TO MAKE THE SWEET WINE. SOME VINEYARDS LEAVE A SMALL PORTION OF GRAPES ON THE VINE BEYOND THE FALL HARVEST. IT CAN BE RISKY. GRAPES OFTEN GET POACHED BY DEER AND BIRDS OR BLOWN DOWN. BUT THE GAMBLE CAN PAY OFF.
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 JIBBEN. HAVE A GREAT DAY.
PROMO:
I'M BETSY JIBBEN. FRIDAY ON AGDAY OUR PARTNERS AT PROFARMER WILL BE HERE. THEY'LL LOOK AT USDA'S LATEST BARRAGE OF REPORTS -AND THE IMPACT ON LIVESTOCK MARKETS. FOR REAL NEWS IMPACTING THE BOTTOM LINE, TUNE IN DAILY 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