AgDay Daily Recap -January 28, 2015

January 28, 2015 02:57 AM
 

TODAY ON AGDAY
JANUARY 28, 2015

OPEN HEADLINES:
COMING UP TODAY ON AGDAY MIXED SIGNALS FROM THE U.S. ECONOMY WHILE THE FARM ECONOMY CONTINUES TO LOWER EXPECTATIONS. POTENTIAL PROGRESS IN THE WEST COAST PORT LABOR NEGOTIATIONS…IN AGRIBUSINESS...MARKETS ARE SWITICHING FROM WINTER TO SPRING. THE PSYCHOLOGY OF THE SITUATION IS THAT THE AMERICAN FARMER TENDS TO STROE A LOT OF GRAIN  AND MEET A GROUP OF INNOVATIVE DAIRY FARMERS USING TECHNOLOGY AND TOP-OF-THE-LINE ANIMAL HUSBANDRY TO GET THE MOST OUT OF THEIR HERD. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
RURAL ECONOMY:
GOOD MORNING I'M CLINTON GRIFFITHS. TRADERS WILL BE LOOKING TO RECOUP SOME LOSSES TODAY AFTER A ROUGH DAY ON WALL STREET. AND THAT UNCERTAINTY CAN BE FELT IN RURAL AMERICA...AND THAT'S OUR TOP STORY ON AGDAY.
STOCKS:
COMPANIES LIKE EQUIPMENT-MAKER CATERPILLAR AND DUPONT - OWNER OF PIONEER - ARE FORECASTING LOWER THAN EXPECTED EARNINGS.  THEY SAY A STRONGER DOLLAR IS HURTING THEIR BOTTOM LINE.  A STRONGER DOLLAR MAKES OVERSEAS PURCHASES MORE EXPENSIVE. MEANWHILE CONSUMER CONFIDENCE IS AT ITS HIGHEST LEVEL SINCE AUGUST 2007.  THE CONFERENCE BOARD SAYS THE CONSUMER CONFIDENCE INDEX CLIMBED AGAIN IN DECEMBER.  THAT INDICATES A TURNAROUND IN HOW PEOPLE FEEL ABOUT BUSINESS CONDITIONS. AG ECONOMISTS SAY A STRONG OVERALL ECONOMY ISN'T ALWAYS GOOD NEWS FOR THE AG INDUSTRY.
TPA SUPPORT:
FROMAN SAYS THE PRESIDENT NEEDS "TRADE PROMOTION AUTHORITY" TO HELP MAKE TRADE DEALS WITH ASIAN AND EUROPEAN COUNTRIES. THE T-P-A - SOMETIMES CALLED THE FAST TRACK - ALLOWS THE PRESIDENT TO SEND PROPOSED TRADE AGREEMENTS TO CONGRESS FOR A YES OR NO VOTE, BUT WITH NO AMENDMENTS. EVERY PRESIDENT SINCE 1974 HAS BEEN GRANTED THIS AUTHORITY. REPUBLICAN LAWMAKERS ARE GENERALLY IN FAVOR OF THIS, BUT DEMOCRATS, LIBERALS AND LABOR GROUPS ARE OPPOSED. THEY SAY IT WOULD HURT UNION JOBS.  THE NATIONAL PORK PRODUCERS COUNCIL AND THE NATIONAL CATTLEMEN'S BEEF ASSOCIATION ALSO SUPPORT THE PRESIDENT TRADE PROMOTION AUTHORITY.
KEYSTONE SENATE:
PROGRESS IS SLOW GOING ON THE KEYSTONE XL PIPELINE LEGISLATION NOW IN THE SENATE. SENATE DEMOCRATS BLOCKING AN EFFORT BY REPUBLICANS TO END DEBATE ON THE BILL...BY A VOTE OF 53 TO 39. NAY VOTERS SAYING THEY WANT MORE TIME AND MORE DEBATE ON POTENTIAL AMENDEMENTS.
NEW ENGLAND SHOW:
NEW YORK CITY AND WASHINGTON D-C MAY HAVE BEEN SPARED THE BIG SNOW, BUT NEW ENGLANDERS WEREN'T SO LUCKY. A HOWLING BLIZZARD WITH WIND GUSTS OVER 70 MPH HEAPED SNOW ON BOSTON ALONG WITH OTHER STRETCHES OF LOWER NEW ENGLAND.
AT LEAST 2 FEET OF SNOW WAS EXPECTED IN MOST OF MASSACHUSETTS. THE NATIONAL WEATHER SERVICE SAYS A 78 MPH GUST WAS REPORTED ON NANTUCKET.
TEASE:
STILL TO COME, A LOOK AT COMMODITY MARKETS FOLLOWING A WILD DAY IN STOCKS,
AND LATER, GET READY FOR THE WINGS....SUPER BOWL SUNDAY IS BIG BUSINESS FOR THE PARTY FAVORITE.
FED RESERVE:
IN AGRIBUSINESS...A FERERAL RESERVE COMMITTEE IS PLANNING TO MEET THIS WEEK...TO WORK ON MONETARY FOR THE NEXT COUPLE OF MONTHS. ECONOMISTS CONTINUE TO DEBATE WHETHER AN INTEREST RATE HIKE IS COMING. MANY SUGGEST IT COULD HAPPEN AS EARLY AS JUNE, WHILE OTHER SAYS THE CENTRAL BANK COULD HOLD OFF A BIT LONGER.
IF IT DOES RAISE THE BENCHMARK SHORT TERM INTEREST RATE FROM NEAR ZERO IT WOULD BE THE FIRST TIME SINCE 2008.
EGG PRICES JUMP:
CALIFORNIA'S NEW EGG PRODUCTION RULES HAVE BEEN IN EFFECT FOR ABOUT A MONTH. AS A RESULT, CALIFORNIA CONSUMERS ARE PAYING MORE FOR THEIR EGGS THAN THE REST OF THE COUNTRY. AS WE'VE REPORTED PROPOSITION TWO REQUIRES MORE HOUSING SPACE FOR EGG-LAYING HENS. THIS REGULATION INCLUDES NOT ONLY IN-STATE PRODUCTION, BUT PRODUCERS OUTSIDE THE STATE MUST MEET THOSE REQUIREMENTS IF THEY WANT TO SELL EGGS IN CALIFORNIA. THE EGG INDUSTRY CENTER SAYS CALIFORNIANS ARE PAYING TWO DOLLARS MORE PER DOZEN THAN THE REST OF THE U-S. BEFORE THE RULE WENT INTO EFFECT, THERE WAS A TWELVE CENT DIFFERENCE.
SOIL MILK:
THE MILK INDUSTRY TAKING A STAND TUESDAY ON SOCIAL MEDIA…THE INDUSTRY ALL JOINING IN TO ROLL OUT ITS GET REAL CAMPAIGN. THE GOAL IS TO FIGHT BACK AGAINST MIS-INFORMATION AND NON DAIRY COMPETITION. ONLINE ADS ALSO COMPARE DAIRY MILK TO ALMOND MILK WHICH CONTINUES TO GAIN IN POPULARITY…INDUSTRY MONITORS ESTIMATE, TOTAL VOLUME OF MILK SALES IS DOWN 12 PERCENT SINCE 2009.
CLOSE:
THE DAIRY ALSO SHARED ITS STOCKMANSHIP TRAINING PROGRAM WITH OTHER DAIRIES AND UNIVERSITIES IN THE AREA...IN AN EFFORT TO HELP OTHER MAKE IMPROVEMENTS ON THEIR FARMS AS WELL.CONGRATS TO THE ENTIRE OPERATION ON THE WINNING THE AWARD.
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.

 

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