AgDay Daily Recap -June 9, 2016

June 9, 2016 02:57 AM
 

TODAY ON AGDAY
JUNE 9, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY -A REPORT FROM WORLD PORK EXPO AS THE INDUSTRY MEETS IN DES MOINES. PLUS, GRAINS RALLY ONCE MORE. IN AGRIBUSINESS...BUT THE BIGGEST PLAYER RIGHT NOW IS MONEY AND YOU GOT TO KEEP FEEDING THE BULL. CHECKING ON CATTLE. OUR DROVERS TV REPORT LOOKS AT WHICH GENERATION IS BUYING A BETTER BURGER. I GOT A COLLECTION OF BELLS LIKE THIS...AND A WHOLE LOT MORE. WE'LL VISIT A SALVAGE SANCTUARY.
WORLD PORK EXPO:
GOOD MORNING I'M CLINTON GRIFFITHS. AS THE PORK INDUSTRY GATHERS THIS WEEK IN IOWA FOR THE WORLD PORK EXPO, PRODUCERS ARE ENJOYING STRONG DEMAND AND PRICES. EVEN THOUGH FEED COSTS ARE UP FOR HOG PRODUCERS DUE TO HIGHER GRAIN PRICES. PORK DEMAND IS STRONG RIGHT NOW -ESPECIALLY OVERSEAS. PURDUE AG ECONOMIST CHRIS HURT SAYS PROTEIN MEAL IN THE FIRST QUARTER COST 276-DOLLARS A TON. NOW IT'S 400 DOLLARS. BUT PRODUCERS ARE GETTING A FORTUNATE BOOST DUE TO INCREASING DEMAND IN CHINA. HURT SAYS CHINA MAY SOON OVERTAKE JAPAN AS THE WORLD'S TOP PORK IMPORTER. USDA IS EXPECTING CHINESE PORK IMPORTS WILL GROW FIVE PERCENT THIS YEAR. WORLD PORK EXPO 2016 IS UNDERWAY IN DES MOINES THIS WEEK. IT'S WHERE INDUSTRY LEADERS AND PRODUCERS TALK POLICY, ISSUES AND SOME HAVE THE OPPORTUNITY TO SHINE IN THE SHOW RING. BETSY JIBBEN HAS AN UPDATE.
TOPICS ON THE MIND OF PORK PRODUCERS:
CLINTON, MANY TOPICS ARE 'TOP OF MIND' THIS YEAR AT THE WORLD PORK EXPO RANGING FROM PRICES TO TRADE DEALS. WE'RE VERY FOCUSED ON TPP. IT WOULD BE ABSOLUTELY HUGE FOR THE U.S. PORK INDUSTRY. (TAKE OUT INBETWEEN)WE THINK WHEN THIS NOMINATION REDEROIC THAT'S GOING ON THIS SUMMER IS OVER WITH AND PEOPLE ARE SETTLED BACK DOWN, WE THINK TRADE WILL COME BACK TO THE FOREFRONT. WE'RE OPTIMISTIC LATER THIS YEAR OR 2017 WE CAN BECOME ENGAGED AND GET TPP PASSED IN CONGRESS. PRICES ARE ALWAYS TOP OF MIND FOR PORK PRODUCERS. 48 WE HAD A JUMP WITH CORN AND SOYBEAN MEAL PRICES. NOW THEIR COST OF PRODUCTION HAS BEEN MORE THAN IT HAS BEEN FOR QUITE SOME TIME. WE ARE STILL ABOVE BREAK-EVEN, ESPECIALLY THIS FALL IT'S GOING TO BE TIGHT 04 20:45:19 WE ALSO KNOW THAT BY NEXT YEAR, WE'LL HAVE SEVERAL NEW PLANTS GOING IN ONLINE. THAT WILL MAKE THE DEMAND HIGHER. THAT WILL HELP OUR PRICES. ALUMBAUGH SAYS PRODUCERS ARE FORTUNATE THAT ROUGHLY 25 PERCENT OF PORK THAT'S PRODUCED IS FOR OUR EXPORT MARKETS. AND THOSE MARKETS HAVE BEEN VERY STRONG, HELPING PRODUCERS QUITE A BIT. WE'LL HAVE MORE COVERAGE FROM THE EXPO THROUGHOUT THE NEXT COUPLE OF DAYS.
P-E-D-V  LIMITED OUTBREAK IN CANADA:
THANKS BETSY, THE INDUSTRY IS ALSO MONITORING A RECENT -BUT LIMITED OUTBREAK OF PORCINE EPIDEMIC DIARRHEA VIRUS IN CANADA. A NEW CASE OF P-E-D-V WAS CONFIRMED EARLIER THIS WEEK ON A FARM IN SOUTHEAST MANITOBA. MANITOBA'S OFFICE OF THE CHIEF VETERINARIAN CONFIRMED THIS WAS THE THIRD CASE OF PED DISCOVERED IN THE PROVINCE SINCE THE END OF MAY. BEFORE THAT, THE MOST RECENT CASES DATED BACK TO JANUARY OF 2015. PEDV -AS YOU REMEMBER -KILLED EIGHT MILLION PIGLETS IN THE U-S TWO YEARS AGO. ACCORDING TO OUR PARTNERS AT THE PORK NETWORK, THE LATEST OUTBREAK COMES ABOUT A MONTH AFTER THE CANADIAN FOOD INSPECTION AGENCY ENDED CANADA'S EMERGENCY TEMPORARY TRUCK WASHING REQUIREMENTS. THE REQUIREMENT FORCED TRANSPORTERS RETURNING FROM DELIVERING PIGS TO U-S FARMS TO WASH AND DISINFECT AT CERTIFIED CANADIAN FACILITIES. BUT NOW, THEY'RE WASHED ON THE U-S SIDE OF THE BORDER.
AVIAN FLU HITS HONG KONG:
HONG KONG OFFICIALS PLAN TO CULL THOUSANDS OF POULTRY AFTER CONFIRMED PRESENCE OF THE H7-N9 AVIAN INFLUENZA STRAIN AT THE CITY'S ONLY POULTRY MARKET. THE SHANGHAI DAILY SAYS 45-HUNDRED BIRDS AT THE MARKET WILL BE CULLED. THE GOVERNMENT IS ALREADY SAMPLING 30 OTHER CHICKEN FARMS. LIVE POULTRY TRADE WAS SUSPENDED OVER THE WEEKEND AFTER TESTS CONFIRMED THE FINDINGS. THE SOURCE OF THE VIRUS OR IT'S PATHOGENIC STATUS AREN'T CLEAR. NO HUMAN INFECTIONS HAVE BEEN REPORTED SO FAR.
COMMODITY FUTURES SEE STRENGTH:
HERE AT HOME COMMODITY MARKETS SEEING STRONG TRADE ON WEDNESDAY. DECEMBER CORN FUTURE'S CONTRACTS CLOSING IN ON 4-40 PER BUSHEL. WHILE NOVEMBER BEANS JUMPED SOME 30 CENTS HIGHER NEARING 11-AND-AHALF. EVEN LIVESTOCK SPENDING MUCH OF THE DAY IN THE GREEN. WE'LL HAVE MORE ON THE MARKETS FROM CHICAGO AFTER THE BREAK. WHILE GRAINS MOVE HIGHER, DAIRY PRICES ARE ALSO STARTING TO CREEP UP. THE SLOW RISE HAPPENING SINCE MID-MAY--AND NOW IMPROVING THE OUTLOOK FOR DAIRIES IN WHAT LOOKED TO BE A TOUGH YEAR. ANALYSTS SAY A COMBINATION OF FACTORS ARE WORKING TOGETHER TO HELP PUSH PRICES HIGHER. PART OF IT COMES FROM TYPICAL SEASONALITY BUYING--WHEN BUYERS GET MORE AGGRESSIVE IN MAY AND JUNE. RISING GRAIN PRICES MAY ALSO BE HELPING LIFT MILK PRICES. THE RECENT CLASS 3 AVERAGE PRICE OF 12-74 WAS THE LOWEST SINCE SEPTEMBER OF 2009. GLOBALLY, DAIRY TRADE AUCTIONS HAVE ALSO SHOWED SOME RENEWED STRENGTH. AUSTRALIA, NEW ZEALAND AND THE U-K HAVE ALL SEEN PRODUCTION DECREASE IN RECENT MONTHS.
DAIRY LAWSUIT:
 A FEDERAL JUDGE TUESDAY APPROVING A 50 MILLION DOLLAR SETTLEMENT BETWEEN DAIRY FARMERS OF AMERICA AND THOUSANDS OF NORTHEAST DAIRY FARMERS. THE CO-OP ORDERED TO PAY AN AVERAGE OF 4-THOUSAND DOLLARS TO NEARLY 9-THOUSAND FARMS. THE PAYOUT THE RESULT OF A 2009 CLASS ACTION LAWSUIT THAT ACCUSED DAIRY FARMERS OF AMERICA, DAIRY MARKETING SERVICES AND DEAN FOODS OF WORKING TOGETHER TO MONOPOLIZE THE MARKET FOR RAW MILK IN THE NORTHEAST. DEAN FOODS HAS ALREADY AGREED SEPARATELY TO PAY A 30 MILLION DOLLAR SETTLEMENT.
CROP COMMENTS:
 LETS SEE HOW FIELDS LOOK FOR THAT WE TURN MIKE HOFFMAN AND TODAY'S CROP COMMENTS. A FARMER POSTED THESE PHOTOS FROM JACKSON COUNTY IOWA---THAT'S THE EAST CENTRAL PART OF THE STATE. THEY SAY SO FAR THINGS LOOK PRETTY GOOD OUT IN THE FIELDS. A LOT OF HAY IS GETTING CUT. AND SECOND PASS CORN IS BEING PLANTED--IT SHOULD BE FINISHED BY THE END OF THE WEEK. MEANWHILE A FARMER IN SAMPSON COUNTY NORTH CAROLINA SAYS WEATHER WISE, ITS BEEN A ROLLER COASTER RIDE SINCE 2015. THEY'VE SEEN MORE THAN 50 INCHES OF RAIN FROM THANKSGIVING TO MID MARCH.
TEASE:
WE'LL ALSO SEE HOW A BETTER BURGER IS HELPING THE U-S BEEF SECTOR. AND HOW MUCH STUFF DO YOU HAVE CRAMMED IN YOUR GARAGE? FOR THIS COLLECTOR, THERE'S A LOT OF VALUE -SENTIMENTAL AND OTHER WISE.
JOHN DEERE ANNOUNCES NEW PARTNER:
IN AGRIBUSINESS...JOHN DEERE ANNOUNCING A MAJOR NEW PARTNER.  THE MACHINERY BUSINESS SAYS DEALERS WILL SOON BEGIN SELLING AND SUPPORTING NUTRIENT APPLICATION PRODUCTS FROM 360 YIELD CENTER. THE DISTRIBUTION DEAL COVERS CANADA AND THE U.S. THE DECISION GOES HAND AND HAND WITH ANOTHER NEW JOINT VENTURE BETWEEN DEERE AND HAGIE MANUFACTURING.
FROM THE FLOOR OF THE CME:
A BIG RALLY DURING THE DAY WEDNESDAY...LETS SEE WHERE MARKETS CLOSED FROM THE FLOOR OF THE CME IN CHICAGO. WEDNESDAY'S GRAINS WOW WHAT A MOVE WHAT CAN I SAY AGAIN THIS IS NOT TO BE TOTALLY UNEXPECTED THAT WE'VE SEEN JUST AN EXPLOSION HEAR. A LOT OF TALK ABOUT WEATHER WAY TOO EARLY TO WORRY ABOUT WEATHER A LOT OF TALK ABOUT A LOT OF THINGS AT THE END OF THE DAY I THINK YOU'RE REALLY GOT A LOT OF SHORTS REALLY TRAPPED HERE. I THINK YOU HAVE A LOT OF GREED CHASING IN HERE. YOU TIE IN THE REGULAR ECONOMY YOU TIE THAT DOLLAR THAN JUST CREATE ON THESE PARABOLIC RALLIES WHICH WILL NOT BE SUSTAINED. THAT MOVEMENT WE'RE SEEING NOW IS UNSUSTAINABLE DOES NOT MEAN THAT WE WON'T GO HIGHER BUT AT SOME POINT YOU ARE EITHER GOING TO SELL OFF THERE'S GOING TO BE SOME PROFIT TAKING AND WE'RE GOING FLATTEN OUT. THIS TODD BUBBA HORWITZ FROM BUBBA TRADING DOT COME COMING TO YOU FROM THE OF THE CME GROUP IN CHICAGO.
AGRIBUSINESS:
IN ANALYSIS TODAY, EVEN MOST OF WEDNESDAY'S RALLY CENTERED ON GRAINS, CATTLE CONTRACTS ALSO SEEING A BIT OF GREEN. TYNE MORGAN JOINS US FROM THE AGRIBUSINESS WITH MORE.  HERE NOW WITH BRAD MATTHEW'S OF ROACH AG. BRAD LET'S START BY TALKING ABOUT THIS CORN MARKET. ACREAGE -WE CONTINUE TO BATTLE THIS YOU KNOW AND AND TALK ABOUT IT, WE WILL UNTIL WE GET THIS NEXT REPORT AT THE END OF THE MONTH. BUT DO YOU THINK THAT WE'RE GOING TO SEE FEWER CORN ACRES THEN USDA ORIGINALLY THOUGHT. MY PERSONAL OPINION YES I THINK THAT NUMBER COULD COME DOWN BY AN EASY MILLION IF NOT TWO MILLION ACRES. IN THE SOUTH WE WERE SUPPOSED TO BE PLANTING LESS SOYBEANS AND MORE CORN THAN WE HAVE IN PREVIOUS YEARS. THEY WERE REALLY WET EARLY ON THE SEASON SO I THINK YOU PROBABLY LOST ACRES
THERE. AND TAKE A LOOK AT THE CORN BEING RATIO WHAT IT DID AT THE END OF THAT REPORT MARCH THIRTY FIRST, THE CORN -BEAN RATIO WAS AS A BASE IN MARCH FIRST ON THAT REPORT.
NATIONAL WEATHER:
AGDAY WEATHER SPONSORED BY YAMAHA'S FULL LINE OF REAL WORLD TOUGH ATV'S AND SIDE BY SIDE VEHICLES."WELCOME BACK TO AGDAY HERE WITH METOROLOGIST MIKE HOFFMAN. MIKE SOME PLACES BEEN GETTING JUST TONS OF RAIN TEXAS FOR ONE NOW FLORIDA "YEAH FLORIDA'S GETTING IT. TEXAS' IS JUST DRYING OUT. SO WE CAN FLIP FLOP THINGS A LITTLE BIT THERE A STORM SYSTEM IN THE EASTERN GULF IS RIDING ALONG A STATIONARY FRONT OVER FLORIDA IS JUST GOING TO CONTINUE TO PUT DOWN HEAVY RAIN AND THUNDERSTORMS THAT AREA AS IT JUST KIND OF STALLS OUT ACROSS CENTRAL PORTIONS OF THE STATE IN THE SEE ANOTHER SYSTEM KIND OF DIVING THROUGH IOWA INTO NORTHERN ILLINOIS NORTHERN INDIANA WITH SOME SHOWERS AND THUNDERSTORMS AS WE HEAD THROUGH THE DAY TODAY AND WE KIND OF A FOCUSED AREA OF WIDESPREAD RAIN BUT THE AREAS THAT DO GET IT COULD COULD GET A COUPLE THREE INCHES OF RAIN OUT OF THAT. SO WE'LL SHOW YOU PRECIPITATION ESTIMATES AMOUNTS COMING UP ANOTHER STORM SYSTEM COMING INTO THE PACIFIC NORTHWEST THAT'S GOT SOME SHOWERS AND THUNDERSTORMS WITH THAT AS WELL AS LINGERING SHOWERS IN THE FAR NORTHEAST ESPECIALLY MAINE AS WE HEAD THROUGH TONIGHT THEN THAT'S A INITIAL AREA OF LOW PRESSURE MOVING THROUGH THE OHIO VALLEY WITH A FEW SHOWERS.
REGIONAL WEATHER:
THAT'S A LOOK ACROSS THE COUNTRY NOW LETS TAKE A LOOK AT LOCAL FORECASTS. WE HEAD TO ELI NEVADA SUNNY BREEZY AND QUITE WARM HIGH OF EIGHTY NINE DEGREES SOUIX CITY IOWA MOSTLY SUNNY HOT AND HUMID HIGH OF NINETY FOUR IN WHEELING WEST VIRGINIA A GOOD DEAL OF SUNSHINE WILL BE COMFORTABLE IN THE AFTERNOON HIGH AROUND SEVENTY ONE.
TEASE:
AMERICANS LOVE HAMBURGERS. BUT ARE THEY WILLING TO PAY MORE FOR A "CLASSIER" BURGER? OUR PARTNERS AT DROVERS JOIN US NEXT TO LOOK AT THE POTENTIAL DEMAND. AND LATER WHEN WE HEAD IN THE COUNTRY --TRASH OR TREASURE? WE'LL LET YOU DECIDE.
 CASH MARKET RALLY ON THE FEEDLOTS:
IN TODAY'S REPORT FROM OUR PARTNERS AT DROVERS...OUT IN THE FEEDLOT, A CASH MARKET RALLY IS HELPING PULL MARGINS HIGHER. LAST WEEK, THE STERLING BEEF PROFIT TRACKER CLIMBED ANOTHER 62 DOLLARS PER HEAD, PUTTING AVERAGE PROFITS AT 212 DOLLARS ON EACH ANIMAL. PACKER MARGINS WERE ALSO HIGHER NOW AVERAGING 145 DOLLARS PER PROCESSED HEAD. THE FIVE AREA CASH PRICES CLIMING 4 DOLLARS PER HUNDRED TO 129.
HIGHER QUALITY HAMBURGER BECOMES TRENDY:
THE GRILLING SEASON IS UPON US. THAT'S AN IMPORTANT TIME FOR BEEF PRODUCERS AS IT PUSHES DEMAND HIGHER, NEW RESEARCH SEEMS TO SHOW DEMAND FOR BEEF IS GROWING ESPECIALLY AMONG MILLENNIALS. THAT GENERATION WAS BORN BETWEEN 1980 AND THE YEAR TWO-THOUSAND. ACCORDING TO RESEARCH FROM THE FOOD MARKETING RESEARCH FIRM TECHNOMIC -SALES OF HIGHER QUALITY HAMBURGERS JUMPED 15-PERCENT LAST YEAR TO MORE THAN FIVE BILLION DOLLARS. THAT REMAINS A SMALL PART OF THE ANNUAL QUICK-SERVE RESTAURANT BUSINESS, BUT TECHNOMIC SAYS REVENUES FOR GOURMET BURGERS COULD DOUBLE WITHIN THE NEXT 5 YEARS.
TEASE:
AND HOW MUCH STUFF DO YOU HAVE IN YOUR GARAGE? DOES IT LOOK ANYTHING LIKE THIS? IN THE COUNTRY IS NEXT.
IN THE COUNTRY:
GARAGES ARE DESIGNED TO SHELTER VEHICLES FROM THE ELEMENTS. THEY'VE ALSO BECOME CONVENIENT SPACES TO STORE ALL KINDS OF STUFF. CLIFF NAYLOR FROM AGDAY AFFILIATE KFYR TAKES US INSIDE A SALVAGE SANCTUARY.  ROGER KUBIK'S GARAGE IS A TREASURE TROVE. I'M NOT A HORDER, I'M A COLLECTOR. HE'S BEEN COLLECTING STUFF FOR OVER 40 YEARS. EVERYTHING IS LIKE ONE OF A KIND, OR WEIRD OR JUST SOMETHING DIFFERENT. IN HERE YOU'LL FIND STATUES, BOTTLES, BUTTONS AND BELLS...I'VE GOT A COLLECTION OF SMALL, MEDIUM AND LARGE BELLS, THESE ARE THE KIND I RANG IN RICHARDTON AT THE ABBEY WHEN I WAS AN ALTAR BOY THERE. HIS LARGEST BELL ONCE SOUNDED OFF FROM A STEAMBOAT.
CLOSING:
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND ALL OF US AT AGDAY. I'M CLINTON GRIFFITHS. HAVE A GREAT DAY.
PROMO:
I'M CLINTON GRIFFITHS -FRIDAY ON AGDAY -GET EXPERT MARKET INSIGHT FROM OUR PARTNERS AT PROFARMER. WE'LL HAVE COVERAGE FROM WORLD PORK EXPO. AND WE VISIT ANOTHER GREAT AMERICAN BARN. WATCH US WEEKDAYS ON 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