AgDay Daily Recap -March 10, 2016

March 10, 2016 02:57 AM
 

TODAY ON AGDAY
MARCH 9, 2016


OPENING HEADLINES:
COMING UP TODAY ON AGDAY:
HOW WILL THE FARM ECONOMY SHAKE-OUT IN 2016 FOR FARMERS IN THE MID-SOUTH?.
FARMERS AND ECONOMISTS, ARE OPTIMISTIC, BUT THEY ALSO HAVE THEIR CONCERNS BASED ON WHAT HAPPENED LAST YEAR, THAT STORY COMING UP ON AGDAY .
THE SENATE PREPARES TO TAKE UP GMO LABELING LEGISLATION.
IN AGRIBUSINESS...WATCHING THE WEATHER FOR MARKET CLUES--AND WHAT TO DO WHILE YOU WAIT.
BUT I WANT TO BE ABLE TO PARTICIPATE AND RALLY IF WE DO GET SOME HIGHER PRICES GETTING INTO THE GROWING SEASON
CRAWFISH COME EARLY...
AND MEET A YOUNG MAN PASSIONATE ABOUT HELPING THE FOOD INSECURE.
PREPARING FOR LOWER COMMODITY PRICES IN 2016:
GOOD MORNING I'M CLINTON GRIFFITHS.  AMERICA'S AG PRODUCERS CONTINUE TO PREPARE FOR LOWER PRICES AND THIN MARGINS IN 2016. THAT'S BEEN A MAJOR TALKING POINT AT MEETINGS ACROSS THE COUNTRY THIS WINTER...INCLUDING LAST WEEK'S COMMODITY CLASSIC.
EVEN LENDERS LIKE FARM CREDIT MID-AMERICA SAY THEY'RE LOOKING CLOSELY AT BALANCE SHEETS. COVERING INDIANA, OHIO, KENTUCKY AND TENNESSEE THE BANK SAYS--EVEN WITH LOWER PRICES--2016 MAY BE OKAY... IT'S 2017 AND BEYOND WHERE CASH FLOW AND EXPENSES MAY COLLIDE.
BURN RATE ANALYSIS:
WE GET ASKED THAT QUESTION A LOT....HOW LONG CAN I LAST? SO WHAT WE'VE STARTED TO DO WITH OUR RENEWAL PROCESS IS DO A BURN RATE ANALYSIS. IF COMMODITY PRICES REMAIN AT THIS LEVEL HOW LONG CAN I LAST, AND ARE THERE THINGS I CAN DO TO ADJUST THE OPERATION. SO WE LOOK AT THAT AND IT HELPS THE FARMER REALLY TAKE A STEP BACK... AND SAY HOW LONG DO I WANT TO DO THIS IN THE CURRENT FORM.  AND IF WE DON'T SEE ANY CHANGES AT SOME TIME THAT CASH FLOW GOES AWAY.
RURAL COMMUNITIES FEEL THE DRAG WHEN THE AG ECONOMY IS DOWN:
AS SPRING APPROACHES, TENNESSEE FARMERS ARE MAKING PLANS FOR THEIR 2016 CROPS. MANY ARE COMING OFF A YEAR WHEN THEY DID THEIR JOBS WELL, BUT THEIR PAYDAY WAS DISAPPOINTING. IN THIS REPORT FROM THE U-T INSTITUTE OF AGRICULTURE, CHARLES DENNEY REPORTS ON HOW A DOWN YEAR FOR PRODUCERS IMPACTS AN ENTIRE COMMUNITY.
"WE HAD SOME NEGATIVE CASH FLOW. SOME FARMERS WEREN'T ABLE TO PAY EVERYTHING OFF, THEIR DEBT OBLIGATIONS OFF, AND THAT PUTS GOING INTO 2016 KIND OF IN A TOUGH LIGHT." BILLY HANKS WAS AMONG THE 500 PRODUCERS AT THE CONFERENCE. HE AND HIS SON FARM 15HUNDRED ACRES IN GIBSON COUNTY, AND NOW ARE MAKING PLANS FOR THIS GROWING SEASON.
THOSE INCLUDE SUPPLY AND DEMAND ISSUES, GLOBAL COMPETITION IN CROP PRODUCTION, AND EVEN LOWER OIL PRICES. IT ALL IMPACTS AGRICULTURE ON A LOCAL LEVEL."
THIS IS CHARLES DENNEY REPORTING. 
ETHANOL EXPORTS COULD DRIVE GRAIN DEMAND:
AS WE MENTIONED YESTERDAY, GRAIN GROWERS ARE LOOKING AT ETHANOL EXPORTS AS AN OPPORTUNITY TO BUILD DEMAND.  THE RENEWABLE FUELS ASSOCIATION SAYS U.S. ETHANOL EXPORTS HAD A STRONG START TO 2016. SHIPMENTS GROWING 7 PERCENT IN JANUARY OVER THE PREVIOUS MONTH. CHINA TAKING A THIRD OF THE MARKET--MEANWHILE SHIPMENTS TO CANADA REALLY FALLING OFF...WITH ITS LOWEST PURCHASES SINCE OCTOBER OF 2010.
ANALYSTS LIKE TED SEIFRED SAY, ETHANOL EXPORTS COULD BE A REAL DRIVER FOR GRAIN MARKETS.
HSUS LAWSUIT AGAINST PORK SLOGAN:
PORK PRODUCERS WANT USDA SECRETARY TOM VILSACK TO EXHAUST ALL LEGAL OPTIONS AGAINST A LAWSUIT FILED BY THE HUMANE SOCIETY OF THE UNITED STATES. AT ISSUE IS A 2012 LAWSUIT HSUS FILED AGAINST THE SALE OF THE SLOGAN "PORK. THE OTHER WHITE MEAT." AND THE ACCOMPANYING PORK CHOP ICON. THE SALE, WORTH ROUGHLY $35 MILLION, WAS APPROVED BY USDA IN 2006. HSUS CLAIMS IT WAS UNLAWFUL. THE 2012 LAWSUIT GAINED NEW LIFE FOLLOWING AN APPEALS COURT LAST YEAR.  SECRETARY VILSACK DURING TESTIMONY TO THE HOUSE AGRICULTURE COMMITTEE SAID USDA, ALONG WITH THE JUSTICE DEPARTMENT, WERE IN SETTLEMENT TALKS WITH HSUS. THE PORK INDUSTRY IS ASKING AGRICULTURE SECRETARY TOM VILSACK TO FIGHT, NOT SETTLE.
GMO LABELING:
THE FULL SENATE IS PREPARING FOR A VOTE ON A GMO LABELING BILL NEXT WEEK.  LEADERS SAY THERE'S STILL DISCUSSION ON WHETHER THE LAW WOULD BE MANDATORY OR VOLUNTARY. AG SECRETARY TOM VILSACK AGREES CONGRESS NEEDS TO PASS MANDATORY GMO LABELING.  VILSACK, TELLING CROWDS AT THE NATIONAL FARMERS UNION THIS WEEK--MANDATORY LABELING SHOULD USE SMART LABELS, OR QR CODES, ALLOWING CONSUMERS TO LOOK UP THE LABELING INFORMATION.  VILSACK SAYS IF CONGRESS CAN'T REACH AN AGREEMENT ON A LABELING SYSTEM, IT SHOULD AUTHORIZE THE AGRICULTURE DEPARTMENT TO DO THE JOB.
VILSACK SAYS STATE-BY-STATE LABELING LAWS, WOULD "CREATE CONFUSION AND RAISE FOOD PRICES." ADDING THAT THE CHALLENGE IS TO MAKE SURE CONSUMERS UNDERSTAND THEIR FOOD IS SAFE.
CROP COMMENTS:
PLENTY OF RAIN OUT WEST BUT WARMER WEATHER THROUGH THE HEART OF THE COUNTRY. LETS GET  DETAILS FROM CINDI CLAWSON. SHE TODAY'S CROP COMMENTS.
GOOD MORNING CLINTON. SPRING IS GETTING AN EARLY START IT SEEMS OVER MUCH OF THE COUNTRY.
TEASE:
STILL TO COME ON THIS WEDNESDAY MORNING...WE'RE TALKING WEATHER AND IT'S POTENTIAL TO MOVE MARKETS. INCLUDING WHAT GROWERS SHOULD BE DOING RIGHT NOW.
PLUS, IF YOU WERE AT COMMODITY CLASSIC LAST WEEK IN NEW ORLEANS, DID YOU ENJOY SOME CRAWFISH? THE SEASON IS PEAKING EARLY. AND A YOUNG ENTREPRENEUR IS MAKING A BIG DIFFERNCE, FEEDING THOSE WHO MAY NOT ALWAYS HAVE ACCESS TO FOOD.
CME:
IN AGRIBUSINESS LETS SEE HOW MARKETS RESPONDED TUESDAY.  FOR THAT WE HEAD TO THE FLOOR OF THE CME IN CHICAGO.
TUESDAY'S GRAIN TRADE, IS PRETTY MUCH MIXED ACTION BACK AND FOURTH. THAT'S AHEAD OF THE PLANTING PROGRESS REPORT. I'M NOT REALLY THINKING ABOUT IT TO BE HONEST WITH YOU. I THINK WE CAN CONTINUE IN THIS UGLY PATTERN. WE'RE TRYING TO WORK LOWER. THERE'S PRESSURE ON THE SHORT SIDE. AT SOME POINT, THE BULLS ARE TRYING TO HOLD IT UP HERE. OVERALL, IT LOOKS TO BE A LITTLE BIT MORE QUIET TRADE. I THINK THE NEXT BIG MOVE WILL BE UP. AGAIN, ON THE PROGRESS REPORT, WE COULD SEE ANY ACTION. THAT DOESN'T MEAN THAT ACTION WON'T GO UP TO WHERE WE WERE INTENTIONALLY GOING TO GO. TUESDAY'S LIVESTOCK, WE SAW A LITTLE BIT OF HIGHER PRICES ACROSS THE BOARD WITH THE EXCEPTION OF HOGS.
AGRIBUSINESS:
TED SEIFRIED, ZANER AG HEDGE, OUR GUEST. TED, LET'S TALK ABOUT WHAT ARE WE GOING TO DO AT THESE PRICES, ESPECIALLY AS WE KIND OF LOOK AHEAD AND REALLY WEATHER IS THE ONE THING THAT IS A POSSIBILITY AT GIVING US A BUMP, BUT WE DON'T KNOW THAT.> YEAH, AND IT IS REALLY TOO EARLY TO GET EXCITED ABOUT WEATHER, BUT THERE CERTAINLY HAVE BEEN A LOT OF WEATHER COMPARISONS IN INTRIGUING LONGER TERM FORECAST LOOK AT THE EL NINO CAPITULATING TO LA NINA. IT IS CERTAINLY AN INTERESTING THING IT COULD BE BULLISH FOR THE MARKETS LONGER TERM, BUT ALSO IF YOU LOOK AT THE WEATHER WE HAVE HAD, IT HAS BEEN A VERY INTERESTING FALL AND WINTER.
THANKS, TED. WE WILL BE BACK WITH MORE AGDAY IN JUST A MINUTE.
NATIONAL WEATHER:
WELCOME BACK TO AGDAY. CINDI CLAWSON FILLING IN FOR MIKE HOFFMAN TODAY. CINDI, IF WE LOOK AT A COUPLE OF STORMS HERE ON THE MAP, COULD BE LOTS OF RAIN, ESPECIALLY OUT WEST. YEAH, ABSOLUTELY OUT WEST. YEAH, OUT WEST THAT WILL BE IMPACTING THE AREA. OF COURSE THAT SLOW MOVER IN THE NATION'S MIDSECTION. LET'S GET STRAIGHT TO THE MAPS AND SEE WHAT'S GOING ON.
REGIONAL WEATHER:
LET'S TAKE A LOOK AT SOME LOCAL CITIES. YUMA, ARIZONA IS SUNNY, BREEZY AND WARM FOR YOU TODAY. THE HIGH TEMPERATURE IS 84 DEGREES, BUT TULSA, MISSOURI SHOWERS AND THUNDERSTORMS. HEAVY RAIN POSSIBLE FOR YOU WITH A HIGH OF 66. STARK, FLORIDA HAS A MORNING FOG. OTHERWISE, MOSTLY SUNNY.
TEASE:
SPRING IS RIGHT AROUND THE CORNER AND THAT MEANS CRAWFISH SEASON IS STARTING TO PEAK. AND IT'S SHAPING-UP TO BE A GREAT YEAR. WE'LL TELL YOU WHY, WHEN AGDAY CONTINUES.
WE MET AN AMAZING YOUNG MAN AT COMMODITY CLASSIC WHO’ S MATURITY ON HUNGER IN THIS COUNTRY SURPASSES MANY ADULTS. AND HE'S DOING SOMETHING ABOUT IT.
IT’S CRAWFISH SEASON:
PEAK CRAWFISH SEASON OCCURS IN MARCH AND APRIL, BUT THE CROP CAME IN EARLY THIS YEAR. LSU AGCENTER'S TOBIE BLANCHARD REPORTS THAT CRAWFISH EXPERTS ARE EXPECTING A PLENTIFUL CROP.
ABUNDANT IS A WORD CONSUMERS LOVE TO HEAR WHEN TALKING ABOUT CRAWFISH, AND THAT IS EXACTLY WHAT THIS YEAR'S CROP SHOULD BE.  PRODUCERS STARTED HARVESTING IN NOVEMBER. RAY MCCLAIN, LSU AGCENTER AQUACULTURE RESEARCHER, SAID WEATHER CONDITIONS ALL THE WAY BACK TO THE PAST SUMMER HAVE BEEN IDEAL FOR CRAWFISH PRODUCTION.
WITH THE LSU AGCENTER, THIS IS TOBIE BLANCHARD REPORTING. )
TEASE:
CONSUMERS SHOULD BE ABLE TO FIND CRAWFISH AVAILABLE INTO JUNE.
AND WHEN WE COME BACK -MEET A YOUNGSTER WHO CAN TEACH A LOT OF US ABOUT SELF SACRIFICE AND HELPING THOSE IN NEED.
IN THE COUNTRY:
FEEDING AMERICA ESTIMATES IN 2014, 48 MILLION AMERICANS LIVED IN FOOD INSECURE  HOUSEHOLDS. OVER 15 MILLION WERE CHILDREN. WE MET ONE JUNIOR HIGH STUDENT AT THE RECENT BAYER CROPSCIENCES AG-VOCACY FORUM--WHO IS TRYING TO DO HIS PART TO BUILD FOOD SECURITY WHILE  BALANCING HIS HOMEWORK. BETSY JIBBEN INTRODUCES US TO BRAEDEN MANNERING.
REPORTING FOR AGDAY, I'M BETSY JIBBEN.
CLOSING:
THANKS BETSY. BRAEDEN SAYS HE MAKES SPECIALTY BAGS TOO: SOME ARE FOR CHILDREN, SOME ARE FOR WINTER, AND SOME ARE WORKFORCE RELATED.
FOR MORE INFORMATION ON THIS YOUNG FOOD CRUSADER: YOU CAN LOG ONTO: BRAES BROWN BAGS DOT-ORG. 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. THURSDAY ON AGDAY -WE'LL HAVE THE LATEST CATTLE MARKET NEWS FROM OUR PARTNERS AT DROVERS. PLUS, WE'LL TRACK THIS LATE WINTER WARM-UP ACROSS MUCH OF THE COUNTRY. WATCH US WEEKDAYS HERE ON AGDAY.

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