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AgDay Daily Recap -January 8, 2015

08:57AM Jan 08, 2015

TODAY ON AGDAY
JANUARY 8, 2015

OPEN HEADLINES:
COMING UP TODAY ON AGDAY  NEW RULES FROM F-A-A REGARDING THE USE OF DRONES...PLUS, OUR BEEF TODAY REPORT LOOKS AT SOME DIETARY RECOMMENDATIONS THAT ARE UNFAVORABLE TO CATTLEMEN. IN AGRIBUSINESS...PREVIEWING UP COMING REPORTS. WE TEND TO EITHER BUY THE RUMOR AND SELL THE FACT OR SELL THE RUMOR OR BUY THE FACT AND MEET A TEXAS COMPANY FORGING A LIVING FROM A MID-EVIL TRADE USING FIRE, STEEL AND THE PURSUIT OF PERFECTION. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
DRONE ALLOWANCES:
GOOD MORNING I'M CLINTON GRIFFITHS. FOR THOSE OF YOU WANTING TO LEGALLY USE A DRONE OVER YOUR FARM, THE FEDERAL GOVERNMENT IS GIVING YOU A BIG BOOST...AND THAT'S OUR TOP STORY ON AGDAY.
FAA DRONE RULE:
WITHIN THE NEXT SEVERAL WEEKS THE FAA IS EXPECTED TO RELEASE A PROPOSED RULE GOVERNING FLIGHT BY UNMANNED VEHICLES OPERATED FROM THE GROUND. AS TOM RITCHIE REPORTS DOZENS OF COMMERCIAL USERS ARE LINING UP TO FLY.
CROP WATCH:
ROUGH CONDITIONS OUT THERE, BUT THERE IS SOME ENJOYMENT TO THE SNOW. MIKE HOFFMAN HAS THE DETAILS IN CROPWATCH.
JOHANNS:
FORMER NEBRASKA SENATOR AND FORMER U.S. AG SECRETARY MIKE JOHANNS HAS BEEN NAMED THE NEWEST MEMBER OF DEERE AND COMPANY'S CORPORATE BOARD. THE NEWS COMES JUST DAYS AFTER JOHANN'S SENATE REPLACEMENT WAS SWORN IN. JOHANNS IS ONE OF 12 BOARD MEMBERS FOR THE WORLD'S LARGEST AG EQUIPMENT MANUFACTURER.
MONSANTO EARNINGS:
IN OTHER AGRIBUSINESS NEWS, MONSANTO POSTING A SHARP DROP IN FIRST QUARTER EARNINGS...ALTHOUGH BEATING WALL STREET EXPECTATIONS.NET PROFITS FELL NEARLY 35 PERCENT COMPARED TO THE SAME QUARTER A YEAR EARLIER. SOME OF THAT RELATED TO SLOW CORN SALES--ITS BIGGEST REVENUE PRODUCERS.CORN SEED SALES WERE OFF ABOUT 12 PERCENT--LARGELY DUE TO FEWER CORN ACRES IN SOUTH AMERICA.HOWEVER SOYBEANS WERE A DIFFERENT STORY. SALES OF BEANS WERE NEARLY 50 PERCENT HIGHER THAN A YEAR AGO.
ANALYSIS DUSTIN JOHNSON:
ALRIGHT THANKS SO MUCH HERE WITH ME NOW DUSTIN JOHNSON OF EHEDGER SO MUCH TO LOOK AT WHEN WE LOOK AT 2015 BUT COMING UP PRETTY SOON IS THIS JANUARY 12TH USDA REPORT SO WHEN YOU LOOK AT THIS REPORT ARE YOU LEANING TOWARDS IT GOING TO CREATE MORE OF A BEARISH REACTION OR MORE OF A BULLISH REACTION? >> THAT'S A VERY GOOD QUESTION I DEFINITELY WOULD LEAN MORE BEARISH BECAUSE WE HAVE BEEN RALLYING INTO THE REPORT A LOT OF TIMES WE TEND TO EITHER BUY THE RUMOR AND SELL THE FACT OR SELL THE RUMOR OR BUY THE FACT SINCE WE ARE ON THE HIGH END OF THINGS YOU KNOW JUST FROM THAT STAND POINT THERE'S A LOT OF FLUFF BUILT INTO THE MARKET I THINK YOU KNOW BETWEEN THIS FSA DATA YOU KNOW BIG ARGUMENT THAT'S GOING ON IN THE MARKET YOU KNOW BETWEEN THE STRONG DOLLAR AND YOU KNOW MONEY FLOWING OUT OF OTHER COMMODITIES AND IN THE AG SECTOR AND LIKE I SAID A LOT OF FLUFF THAT'S BUILT IN AND I WOULD I WOULD DEFINITELY BE A LITTLE BIT WORRIED TO THE BEARS SIDE IF YOU HAVEN'T GOT MUCH GRAIN BOOKED UP. SO REALLY YOU NEED TO PROTECT GOING INTO THIS JANUARY 12TH REPORT. YEA I MEAN WE JUST CAME OFF OF RECORD PRODUCTION YEAR FOR BOTH CORN AND SOYBEANS WE KNOW THAT THERES A RECORD AMOUNT OF ON FARM STORAGE SO YOU KNOW WHAT'S GOING TO HAPPEN AFTER THE FIRST OF THE YEAR GUYS ARE PROBABLY GOING TO WAIT TILL THEY SEE WHAT THE REPORT SAYS SEE IF IT IS BULLISH OR NOT YOU KNOW EITHER WAY THEY'RE PROBABLY GOING TO SELL AFTERWARD SO THERE'S A LOT OF CASH GRAIN THAT COULD WEIGH ON THE MARKET AFTER THIS REPORT. WELL DUSTIN I MEAN WHEN WE LOOK AT SOME OF THESE USDA REPORTS THAT HAVE COME OUT YOU KNOW I'VE HEARD A LOT OF PEOPLE ARGUE ABOUT WELL IS THAT FEED USAGE NUMBER CORRECT THE YIELD NUMBER NO THAT'S NOT CORRECT SO IN YOUR OPINION DO YOU THINK THERE ANY CORRECTION THAT USDA REALLY NEEDS TO MAKE IN THIS NEXT REPORT? WELL I THINK THE I MEANS HERE'S A GOOD EXAMPLE THE ETHANOL USE YOU KNOW THE BLENDING RATIO THEY HAVE IS OUT OF DATE YOU KNOW A LOT OF NEWER FACILITIES CAN GET A MUCH BETTER RATIO THEN WHAT THEY HAVE WRITTEN DOWN SO YOU KNOW WHERE DO THEY ATTRIBUTE THIS DO THEY ATTRIBUTE IT TO THE FEED SIDE DO THEY TAKE OFF THE ETHANOL SIDE YOU KNOW ETHANOL IS RUNNING STRONG SO IT TENDS TO SEE PROBABLY A LOT OF DEMAND STILL ON THAT TO BE KEPT IN I THINK THE BIGGEST QUESTION IS GOING TO COME FROM THE ACRES AND WHAT THE FINAL YIELD IS BASED ON WHATEVER THE ACRES THEY HAVE WRITTEN DOWN AND I THINK THE CASH MARKET KIND OF ALREADY TELLS A STORY I THINK THAT WE HAVE PLENTY OF EXCESS YOU KNOW AND THERE'S NOT GOING TO BE MUCH MANEUVERING TO DO.  SO IN YOUR MIND ACREAGE WILL GO UP IN THIS NEXT REPORT? I WOULD I WOULD THINK IT'S NOT GOING TO GO DOWN LIKE A LOT OF PEOPLE THINK.  OKAY ALRIGHT DUSTIN THANK YOU SO MUCH PLEASE STAY WITH US WE HAVE MORE AGDAY WHEN WE COME BACK.
WX:
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE I THINK I CAN SUM THIS UP. IT’S BEEN COLD. YEAH. REALLY COLD ACROSS THE COUNTRY NOW DOUBT ABOUT IT. NOW THIS DOESN'T MATCH THE TWO BIG EXTREME OUTBREAKS WE HAD LAST WINTER BUT NONE THE LESS. ITS STILL UP THERE. IT’S STILL COLD. ITS UP THERE AND ITS VERY COLD CONSIDERING WHAT WE HAD IN DECEMBER THE LACK OF COLD IN DECEMBER. THIS IS VERY COLD FOR THIS YEAR. AND THE COLDEST OUTBREAK OF THE SEASON NO QUESTION ABOUT IT…NOW AS YOU LOOK AT THE WEATHER MAP THIS MORNING, HUGE DOME OF HIGH PRESSURE OVER THE SOUTHERN MISSISSIPPI VALLEY. THAT'S COME RIGHT OUT OF THE ARCTIC. AND WE HAVE ANOTHER ARCTIC COLD FRONT COMING RIGHT BEHIND IT INTO THE NORTHER PLAINS, NORTHERN PORTIONS OF THE ROCKIES AND THAT WILL QUICKLY BLAST SOUTHEASTWARD. SO THIS IS GOING TO REINFORCE THE COLD AIR AND IN SOME AREAS BE ACTUALLY COLDER THAN WHAT ITS REPLACING. BECAUSE ANYTIME YOU HAVE AN AIR MASS COMING INTO ANOTHER AIR MASS THAT'S ALREADY VERY COLD IT DOESN'T MODERATE AT ALL. AND SO I THINK WE END UP WITH SLIGHTLY COLDER TEMPERATURES IN A LOT OF CASES IN THIS NEXT BLAST OF COLD AIR THAN THE ONE THAT'S GOING TO BE IN THE SOUTHEAST BY LATER IN THE DAY TOMORROW. YOU CAN ALSO A PRETTY GOOD AREA OF LIGHT SNOW. I WOULD SAY ON AVERAGE OF 1-4 INCHES THROUGH OUT THAT AREA AND THEN LAKE EFFECT AREAS WILL GET A LITTLE BIT MORE THAN THAT RIGHT BEHIND THAT SYSTEM. OTHER THAN THAT THERE'S NOT A LOT GOING ON. A LITTLE BIT OF MOISTURE COMING INTO SOUTHERN AND WESTERN TEXAS...SOUTHERN PORTIONS OF THE FOUR CORNER REGION AS YOU CAN SEE THERE IN EXTREME SOUTHERN NEW MEXICO AND SOUTHERN ARIZONA BUT THAT'S JUST KIND OF OFF THE GULF OF MEXICO NO BIG SYSTEM THERE. AND THIS NEXT COLD FRONT WILL KIND OF SHOVE THAT BACK TO THE SOUTH AS WE HEAD INTO THE DAY FRIDAY. YOU CAN SEE FRIDAY MORNING LAKE EFFECT SNOWS GOING ON. LIGHT SNOW IN THE NORTHEAST MAYBE A COUPLE OF HIT AND MISS SHOWERS AND THUNDERSHOWERS IN PARTS OF FLORIDA AND THAT'S ABOUT IT. AND THAT COLD FRONT BY LATER IN THE DAY FRIDAY ALL THE WAY INTO THE CENTRAL GULF OF MEXICO ONCE AGAIN. LKE EFFECT SNOWS CONTINUE TO BE ON GOING AND A WEAK COOL FRONT COMING INTO THE PACIFIC NORTHWEST. VERY LITTLE MOISTURE WITH THAT THOUGH. VERY LITTLE MOISTURE AROUND THE LOWER 48 WHAT IS FALLING IS GENERALLY SNOWED BUT THIS WHAT MOISTURE EQUIVALENT OF THAT WOULD BE. LIQUID EQUIVALENT AND YOU CAN SEE IN MOST CASES ITS PRETTY LIGHT ACROSS THE NORTHEASTERN PLAINS THE GREAT LAKES. A LITTLE BIT OF LIGHT STUFF IN SOUTHERN TEXAS...AS FAR AS SNOW FALL IS CONCERNED THIS IS GENERALLY LIGHT AS WELL. BUT SOME OF THE LAKE EFFECT AREAS COULD PICK UP ANOTHER 6-7 INCHES IN SOME LOCATIONS AS THIS COLD AIR MASS COMES ACROSS THE WARMER WATERS OF THE LAKES. HIGH TEMPERATURES THIS AFTERNOON SINGLE DIGITS AND TEENS FROM THE OHIO VALLEY ALL THE WAY TO THE CANADIAN BORDER. 39 IN NEW ORLEANS. SO COLD ALL THE WAY TO THE GULF COAST... LOWS TONIGHT THERE'S THAT COLD AIR MASS COMING IN WE'RE LOOKING AT MINUS 9 OR 10 DEGREES FARTHER NORTHERN PORTIONS OF THE PLAINS STATES. AND UPPER 30'S ALL THE WAY TO THE GULF COAST. SINGLE DIGITS AGAIN…GREAT LAKES AND THE NORTHERN PLAINS FOR THE HIGH TEMPERATURES TOMORROW AFTERNOON. STILL THE BIG TROUGH DIGGING IN TO THE EAST AS YOU CAN SEE AND THEN WE KIND OF GO TO A LITTLE MORE OF A ZONAL FLOW FOR AWHILE BUT WE STILL HAVE THE RIDGE OFF TO THE WEST COAST WHICH MEANS A TROUGH IS GOING TO DIG IN AGAIN NEXT WEEK. SO ANY WARM UP THAT WE DO GET IS NOT GOING TO BE MUCH. WE'RE GOING TO SEE MORE COLD AIR COMING ONCE AGAIN. THAT'S A LOOK ACROSS THE COUNTRY NOW LETS TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR FRESNO CALIFORNIA TODAY MAYBE SOME MORNING FOG AND PARTLY SUNNY HIGH OF 67 DEGREES... FARGO NORTH DAKOTA WINDY AND COLD A BIT OF SNOW AROUND HIGH OF 10, AND THEN TAKING A LOOK AT CHARLESTON WEST VIRGINIA PARTLY SUNNY AND COLD HIGH OF 21..
DIET GUIDELINES:
IN OUR BEEF TODAY REPORT, U.S. CATTLEMEN ARE HOPING NEW RECOMMENDATIONS FROM A DIETARY ADVISORY COMMITTEE STAY JUST THAT...RECOMMENDATIONS.
IDAHO BEEF PACKER:
AMARILLO-BASED CAVINESS BEEF PACKERS IS TEAMING UP WITH J-R SIMPLOT COMPANY TO BUILD A NEW IDAHO BEEF PROCESSING PLANT NEAR KUNA, IDAHO. NOW, IT'S STILL PENDING APPROVAL OF GOVERNMENT PERMITS, BUT PLANS ARE TO BEGIN CONSTRUCTION IN THE SPRING OF 2015. THE NEW PLANT WILL OPERATE UNDER THE NAME C-S BEEF PACKERS AND BE OPEN BY FALL OF 2016. IT WILL SERVE BOTH DAIRY AND BEEF COWS.  ITS ESTIAMTED THERE ARE MORE THAN 600 THOUSAND DAIRY COWS AND ANOTHER 600 THOUSAND BEEF COWS IN THE AREA.
SO KO FOOT AND MOUTH:
SOUTH KOREA SAYS A CATTLE FARM ABOUT 60 MILES SOUTH OF SEOUL HAS A CASE OF FOOT AND MOUTH DISEASE. IT'S THE FIRST CASE IN MORE THAN THREE YEARS. STATE AUTHORITIES HAVE BEEN WORKING TO CONTAIN AN OUTBREAK THAT STARTED ABOUT 6 MONTHS AGO IN HOGS. THE ISSUE IS IMPACTING IMPORTS. PORK IMPORTS FROM THE U.S. LAST YEAR WERE UP MORE THAN 20 PERCENT. BEEF IMPORTS WERE UP 6.
IRELAND BEEF:
SPEAKING OF IMPORTS, THE U.S. OPENING THE DOOR TO BEGIN IMPORTING BEEF FROM IRELAND…A BAN HAS BEEN IN PLACE FOR MORE THAN 15 YEARS FOLLOWING THE DISCOVERY OF MAD COW DISEASE IN EUROPE. IRELAND IS THE FIRST E-U COUNTRY TO REGAIN ACCESS TO THE U.S. MARKET. LAST YEAR THE U.S. IMPORTED MORE THAN 2 BILLION POUNDS OF BEEF AND VEAL IN THE FRIST 10 MONTHS...25 PERCENT MORE THAN 2013.
ITC ANGEL SWORD:
THEY'VE BEEN AROUND SINCE 16-HUNDRED B-C AND HAVE BEEN SAID TO REFLECT HIGH PRESTIGE AND WEALTH FOR THE OWNER. NOW ONE MAN IS WORKING TO MAKE HIS SWORDS A CUT ABOVE THE REST. TEXAS COUNTRY REPORTER, BOB PHILLIPS HAS MORE ABOUT THESE SWIFT SWORD MAKER.
CLOSE:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.

 

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