AgDay Daily Recap -June 17, 2016

June 17, 2016 02:57 AM
 

TODAY ON AGDAY
JUNE 17, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -RURAL BANKERS SAY YOU BETTER BRING MORE PROPERTY TO BACK UP YOUR LOAN REQUESTS. PLUS HAVE WE SEEN THE ECONOMY RECOVER FOR EVERYONE? IN THE PROFARMER PROFIT BRIEFING..."NOBODY WAS THINKING 90-DOLLAR HOGS FOR SUMMER MARKETINGS." A GREAT -BIG-AMERICAN BARN FROM INDIANA AND WE'LL MEET A YOUNG DAIRY FARMER FROM NEW YORK WITH A PASSION FOR INNOVATION.
RURAL MAIN STREET INDEX:
GOOD MORNING I'M CLINTON GRIFFITHS. IF YOU NEED A LOAN, ITS LIKELY GOING TO COST YOU MORE IN COLLATERAL OR INTEREST. THAT'S THE LATEST FROM CREIGHTON UNIVERSITIES RURAL MAINSTREET INDEX. ACCORDING TO THE MONTHLY SURVEY OF RURAL BANKERS IN THE MIDWEST, A GROWING NUMBER ARE INCREASING THEIR COLLATERAL REQUIREMENTS BEFORE APPROVING FARM LOANS. THREE QUARTERS SAY THEY HAVE ALTERED THEIR FARM-LENDING PRACTICES DUE TO A REDUCTION IN FARM INCOME AND STRUGGLING COMMODITY PRICES. THE R-M-I SHOWS HALF OF THE BANKERS BOOSTED INTEREST RATES AND A THIRD ARE REJECTING A HIGHER PERCENTAGE OF FARM LOAN REQUESTS. OVERALL THE RURAL MAINSTREET INDEX STAYED BELOW GROWTH NEUTRAL FOR THE TENTH STRAIGHT MONTH.
ECONOMIC HEALTH SKEWED:
FARMLAND PRICES CONTINUED THEIR NOW 2 AND HALF YEAR DECLINE. THE ONLY BRIGHT SPOT, A SLIGHT INCREASE IN HIRING. STATISTICS DESCRIBE AN AMERICA THAT IS NEARLY RECOVERED FROM THE GREAT RECESSION, BUT THE AP'S DIVIDED AMERICA SERIES FOUND THAT WEALTH IS FLOWING DISPROPORTIONATELY, SKEWING THE PICTURE OF ECONOMIC HEALTH. JOHN MONE REPORTS. RAUL SANCHEZ'S LIFE IS A SERIES OF INTERVIEWS AND MEETINGS— " WE HAVE A POSITION FOR A OPS MANAGER AT A FACTORY BUT IT'S IN SEATTLE. HE WAS LAYED OFF FROM HIS OIL & GAS JOB, IN ENGINEERING OPERATIONS, MORE THAN A YEAR AGO. "EVERY NIGHT WITH THOUGHTS IN MY MIND ABOUT WHEN WILL I BE ABLE TO LAND A JOB, PRAYING TO GOD. FATHER GOD PLEASE GIVE ME A JOB." SANCHEZ IS A 44-YEAR OLD SINGLE FATHER… AND A CASUALTY OF LOW OIL PRICES..HE'S AMONG THE TENS OF THOUSANDS OF WHITE & BLUE COLLAR WORKERS STRUGGLING TO FIND WORK.
RUSSIAN MEAT BUYERS INVITED TO AMERICAN TO GET A TASTE:
THE U-S MEAT EXPORT FEDERATION IS TRYING TO ENCOURAGE SALES OF U-S PORK AND BEEF TO RUSSIA WHEN ECONOMIC SANCTIONS GET LIFTED. THE GROUP HOSTED A TEAM OF RUSSIAN MEAT BUYERS IN IOWA AND NEBRASKA TO SHOWCASE U-S MEAT PRODUCTION. THE U-S AND OTHER WESTERN NATIONS IMPOSED ECONOMIC SANCTIONS AGAINST RUSSIA FOR ITS MILITARY ACTION IN UKRAINE. IN RESPONSE, RUSSIA PLACED AN EMBARGO ON IMPORTS OF MEAT, DAIRY AND
PRODUCE FROM EUROPE AND THE U-S. MEANWHILE IT APPEARS SOME EUROPEAN LEADERS ARE EASING THEIR STANCE. LEADERS OF THE E-U AND BUSINESS EXECUTIVES ARE TAKING PART IN AN ECONOMIC FORUM IN RUSSIA. THE SANCTIONS TOP THE AGENDA. RUSSIA'S BAN DEALT A HEAVY BLOW TO THE AG INDUSTRY IN EUROPE. HOWEVER, THE SANCTIONS DID HELP STRENGTHEN AGRICULTURE IN RUSSIA. DOMESTIC PRODUCTION OF CHEESE IS UP 18-PERCENT. PRODUCE IS UP 13PERCENT. RUSSIAN FARMERS ARE ASKING MOSCOW TO EXTEND THE BAN UNTIL THE END OF 2017.
CROP COMMENTS:
IT'S BEEN A LONG PLANTING SEASON FOR THOSE STILL THROWING BEANS IN THE GROUND. MIKE HOFFMAN HAS AN UPDATE IN THIS MORNING'S CROP COMMENTS. GOOD MORNING, CLINTON. LET'S START OFF IN AN AREA HUGGING BOTH THE MISSOURI AND ILLNIOIS BORDERS. ERIC DOZA SAYS HE'S ON THE HOMESTRETCH -PLANTING BEANS ON HIS OPERATION. OTHERS NEAR HIM ARE DOING THE SAME! EVEN THOUGH HE WAS RAINED OUT EARLIER IN THE WEEK, THE AREA HAS BEEN HOT AND DRY. HE SAYS SOME CORN IS STARTING TO LOOK PRETTY TOUGH IN HIS AREA. MOVING OVER TO EASTERN ILLINOIS, RON HAASE SAYS HIS CORN CROP IS THIRSTY. HE SAYS THE AREA IS DRY-HE ANTICIPATES THAT TO CONTINUE THROUGHOUT NEXT WEEK. USDA SAYS 75 PERCENT OF THE STATE'S CROP IS RATED GOOD TO EXCELLENT. AND TAKING A LOOK AT THE DROUGHT MONITOR YOU CAN SEE IT CONTINUES TO GET DRYERIN PARTS OF THE SOUTH EAST AND THERE ARE SOME DRY POCKETS SHOWING UP IN THE MIDDLE OF THE CORN BELT WE’LL HAVE YOUR FORECAST COMING UP BUT NOW HERE ARE SOME HOMETOWN TEMPS AND CONGRATULATIONS TO OUR MAY CROP COMMENTS WINNER, IDAHO FARMER, NEIL HALL.
RALLY:
GRAINS HAVEN'T BEEN THE ONLY MARKET TO RALLY RECENTLY. LEAN HOG FUTURES ARE NO SLOUCH. THE TEAM OVER AT PRO FARMER WILL JOIN US NEXT TO DISCUSS WHY AND WHETHER PRICES CAN HOLD. AND LATER WE'LL MEET A YOUNG INNOVATIVE DAIRYMAN FROM NEW YORK. FIND WHY HE'S BEEN NAMED TOMORROW'S TOP PRODUCER OF THE YEAR.
PROFARMER:
THERE'S BEEN PLENTY OF EXCITEMENT ABOUT THE RECENT RALLY'S IN GRAIN MARKETS. BUT HOGS AREN'T DOING TOO BAD EITHER. THE FELLA'S OVER AT PRO FARMER JOIN US TO TALK LIVESTOCK PRICES IN TODAY'S PRO FARMER PROFIT BRIEFING.
BRIAN, THE SOYBEAN MARKET, GO BACK TWO MONTHS AGO OR THREE MONTHS, NOBODY THOUGHT WE WERE GOING TO HAVE THESE PRICES. THAT'S THE SAME KIND OF STORY WITH CORN BUT WHEN YOU GO OVER TO LIVESTOCK MARKET, NO BODY WAS THEY DID NINE DOLLARS HOGS FOR SUMMER MARKETINGS AND THAT'S WHERE WE'VE GOT FUTURES AT THE END OF LAST YEAR AT THE END OF THE WEEK IS IT JUST DEMAND FOR PORK HERE IN THE U S IS DRIVING THIS THING? NOW YOU KNOW WHAT WE'VE SEEN THE SPECULATOR MOVE A LOT OF MONEY IN THE LONG SIDE OF THE HOG MARKET AND I THINK A LOT HAS BEEN DRIVEN BY THE EXPORT HOPES, YOU KNOW. CHINA AND THIS IS SOMETHING WE HAD PRO FARMER NEWSLETTER WAY BACK IN EARLY MARCH, BUT THAT CHINESE PORK EXPORTS ARE GOING TO INCREASE SIGNIFICANTLY THIS YEAR AS THEY LOOK TO FEED A GROWING POPULATION THERE.
PITCH TO PROFARMER:
WHERE CAN YOU TALK TOMORROW'S MARKETS TODAY? JOIN CHIP FLORY FIVE DAYS A WEEK FOR MARKET RALLY RADIO -ALL MARKETS ALL THE TIME.
NATIONAL WEATHER:
"WELCOME BACK TO AGDAY METEROLOGIST MIKE HOFFMAN. MIKE WE'RE TALKING ABOUT THE DROUGHT MONITOR THERE ARE SOME SPOTS THAT ARE CONCERNING BUT ALSO MAYBE SOME HOPE THAT THIS DPESN'T TELL US. RIGHT WE'RE NOT INTO A LA NINA YET SO WE ARE HOPEFUL AND DONE QUITE A TURN INTO A BIG DROUGHT BUT SOMETIMES DRY AREAS CAN LEAD TO A DROUGHT IS SOMETHING WE HAVE TO WATCH NOW SOME OF THESE DRY POCKETS A DEVELOPING ACROSS PARTS OF ILLINOIS INDIANA IOWA MISSOURI. HAVE HAD SOME DECENT RAINS OVER THE PAST COUPLE DAYS WHICH DIDN'T GET TAKEN INTO
ACCOUNT HERE BUT YOU CAN SEE THIS AREA IS ALL DEVELOPED JUST RECENTLY.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS FIRST OF ALL FOR LIVINGSTON MONTANA PARTLY TO MOSTLY SUNNY HIGH TEMPERATURE OF SEVENTY SIX DEGREES. POPLAR BLUFF MISSOURI MOSTLY SUNNY WARM AND HUMID HIGH OF NINETY. AND AUGUSTA MAINE A GOOD DEAL OF SUNSHINE WILL BE COMFORTABLE DURING THE AFTERNOON HIGH AROUND SEVENTY SEVEN
TEASE:
NEXT WE HAVE A GREAT AMERICAN BARN FROM THE HOOSIER STATE. AND LATER WE'LL MEET A NEW YORK DAIRY FARMER FINDING INTERESTING AND INNOVATIVE WAYS TO RUN HIS FAMILY FARM.
GREAT AMERICAN BARNS:
TODAY'S GREAT AMERICAN BARN IS GREAT...IN SIZE! IN FACT, IT'S SO BIG THE OWNER BOUGHT A FIRE TRUCK TO DO ROOF WORK. THIS GAMBREL-ROOFED BARN IS LOCATED IN PLYMOUTH INDIANA. THE INDIANA BARN FOUNDATION SAYS IT'S SIMILAR IN STYLE TO AN ENGLISH THRESHING BARN. ENGLISH BARNS WERE BUILT FOR THRESHING AND STORING GRAIN, AND WERE NOT BUILT TO ACCOMMODATE LIVESTOCK IN A LOWER LEVEL. BUT THAT'S HOW THIS MASSIVE STRUCTURE WAS USED. AS THE DATE ON THE ROOF INDICATES, THIS BARN WAS BUILT IN 1908 BY THE JACOBY FAMILY. I-B-F SAYS THE JACOBY FAMILY WERE EARLY SETTLERS AND OWNED MUCH OF THE LAND IN THE AREA. BUT THEY SOLD THE FARM TO THE ROBERTS FAMILY IN 1976. FROM THE INSIDE, YOU CAN FEEL HOW CAVERNOUS THIS BARN REALLY IS. IT'S GREAT FOR STORING HAY.
TEASE:
WHEN WE COME BACK, WE'LL MEET A YOUNG DAIRYMAN WITH A PASSION FOR DIVERSIFICATION.
HIS STORY...IS NEXT.
IN THE COUNTRY:
OUR FRIENDS AT TOP PRODUCER MAGAZINE ARE AWARDING A YOUNGER PRODUCER WHO DEMONSTRATES EXCELLENCE IN AGRICULTURE. THIS YEAR'S WINNER IS CHRIS NOBLE, OF NOBLE-HURST FARMS IN PAVILION, NEW YORK. THE KEYS TO HIS BUSINESS INCLUDE 'DIVERSIFICATION, INNOVATION AND OPPORTUNITY FOR THE NEXT GENERATION.' BETSY JIBBEN REPORTS.
CHRIS NOBLE OF NOBLE-HURST FARMS WILL TELL YOU-HE'S DONE EVERY JOB ON HIS FAMILY'S OPERATION IN WESTERN NEW YORK. BUT WHEN IT CAME TIME TO EXPAND THE 18-HUNDRED HEAD HOLSTEIN DAIRY AND CROP OPERATION ON IN A STATE TIGHT ON LAND AND RESOURCES-NOBLEHURST FARMS CHOOSE TO INNOVATE.
CLOSING:
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:
I'M CLINTON GRIFFITHS. MONDAY ON AGDAY -MACHINERY PETE IS HERE WITH THE BEST EQUIPMENT DEALS OF THE WEEK....AND WHERE THEY CAN BE FOUND. PLUS, SOUTH DAKOTA'S DAIRY INDUSTRY IS ENJOYING IMPRESSIVE GROWTH. BUT A PROCESSING SHORTAGE IS POSING PROBLEMS. CATCH US MONDAY ON AGDAY.

 

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