AgDay Daily Recap -November 12, 2014

November 12, 2014 02:57 AM
 

TODAY ON AGDAY
NOVEMBER 12, 2014

OPEN HEADLINES:
COMING UP TODAY ON AGDAY BEEF OR PORK WHICH PROTEIN WINS OUT IN 2014? PLUS...AN ILLINOIS FARMER WILL REMEMBER THIS FIELD FOUNDLY---IT GREW SOME RECORD SETTING SOYBEANS IN 2014. IN AGRIBUSINESS...ARE OUTSIDE INVESTORS STILL INTERESTED IN FARM LAND. THEY STILL LIKE FARM LAND IT DOESN'T MEAN THEY'RE GOING TO BE REAL ACTIVE INVESTORS OUT THERE RIGHT NOW BECAUSE THEY CAN SEE THE MARKETS A LITTLE BIT SOFTER AND A SPECIAL STUDENT EXCHANGE PROGRAM IS HELPING FARMERS IN NORTH DAKOTA AND SOUTH AFRICA FIND COMMON GROUND. AGDAY-BROUGHT TO YOU BY CHEVY SILVERADO 2014 NORTH AMERICAN TRUCK OF THE YEAR.
BEEF VS PORK:
GOOD MORNING I'M CLINTON GRIFFITHS. BEEF CAN ONCE AGAIN CLAIM 'BRAGGING RIGHTS' WHEN IT COMES TO MEAT PRODUCTION IN THIS COUNTRY...AND THAT'S OUR TOP STORY ON AGDAY.
MILK OUTLOOK:
ALSO FROM THE SUPPLY-AND-DEMAND REPORT, THE MILK PRODUCTION FORECAST FOR 2014 IS INCREASED FROM LAST MONTH AS GROWTH IN MILK PER COW HAS INCREASED. HOWEVER, FOR 2015, THE PRODUCTION FORECAST IS LOWERED AS THE EXPANSION IN COW NUMBERS AND GROWTH IN MILK PER COW ARE EXPECTED TO BE MORE MODERATE.
BB180 HARVEST TOUR:
THE I-80 HARVEST TOUR IS BROUGHT TO SPONSORED BY THE ENLIST WEED CONTROL SYSTEM FROM DOW AGROSCIENCES. A NEW HERBICIDE AND TREAT SYSTEM THAT WILL BUILD ON GLYPHOSATE...
100 BUSHEL BEANS:
ILLINOIS IS CONSIDERED THE GARDEN SPOT FOR BIG YIELDS THIS YEAR, BUT ONE PERU, ILLINOIS FARMER MIGHT HAVE THE SWEETEST SPOT OF THEM ALL...BECOMING THE ONLY PRODUCER FROM ILLINOIS ON RECORD TO GROW OVER 100 BUSHEL BEANS INDEPENDENTLY. AG DAY'S BETSY JIBBEN SHARES THE SECRETS OF HIS SUCCESS.
CROP WATCH:
FIRST THE SNOW AND NOW THE COLD...HERE'S MIKE HOFFMAN WITH CROPWATCH.
WOTUS COMMENT PERIOD:
TIME IS RUNNING FOR FARMERS, RANCHERS AND OTHERS IN AGRICULTURE TO COMMENT ABOUT PROPOSED CHANGES TO THE CLEAN WATER ACT. AS WE'VE BEEN REPORTING, E-P-A IS PREPOSING TO UPDATE OR CHANGE WHICH BODIES OF WATER FALL UNDER THE CATEGORY OF 'WATERS OF THE UNITED STATES". THE COMMENT PERIOD ENDS FRIDAY...
UN FOOD PRICES:
THE U-N SAYS WORLD FOOD PRICES FELL IN OCTOBER FOR A SEVENTH STRAIGHT MONTH. THAT'S THE LONGEST STREAK SINCE 2009. THE REPORT SAYS PRICES ARE DOWN DUE TO LARGER GLOBAL GRAIN CROPS, RISING MILK OUTPUT AND RECOVING U.S. PORK PRODUCTION. LOWER FOOD COSTS AND FALLING OIL PRICES ARE HELPING SLOW GLOBAL INFLATION.
TEASE:
UP NEXT WE'LL STOP OVER AT THE CME TO GET THE STORY BEHIND TUESDAYS' SOYBEAN RALLY. AND LATER, A 100 DOLLAR IDEA FOR SELF PROPELLED SPRAYERS.
ANALYSIS:
MIKE WALSTEN LAND OWNER NEWSLETTER IS OUR GUEST HERE AT THE AGRIBUSINESS DESK AND MIKE ONE OF THE THINGS I'D LIKE TO TALK TO YOU ABOUT IS OUTSIDE INVESTORS THAT INVEST IN FARM LAND NOW NOT TO BUILD A BUILDING OR BUSINESS ON IT BUT FROM A FARMING STANDPOINT AND FROM ONE POINT IN TIME THAT WAS A PRETTY GOOD INVESTMENT FOR THEM BUT SOME OF THEM ARE KIND OF GETTING RID OF THAT. WELL SOME OF THEM THE LARGER INVESTMENT FUNDS THE LARGER INVESTORS THAT HAVE BEEN IN THE BUSINESS FOR QUITE SOME TIME YOU KNOW THEY HAD SEEN THEIR 15 YEAR HORIZON COME. YEA... THEY'D HAD GOOD RETURN AND SO SOME OF THAT LAND IS BEING CONVERTED BUT WHAT THEY'RE DOING.  NOW CONVERTED MEANS SOLD BACK. THEY'RE SELLING IT BACK TO THE MARKET BUT WHAT THEY'RE DOING AL IS THEY'RE BUYING SOME PLACE ELSE THAT'S JUST THE WAY THAT THOSE INVESTMENTS PROPERTIES WORK THE PENSION FUNDS AND THAT YOU KNOW THEY HAVE A 15 TO 20 YEAR INVESTMENT HORIZON THEN THEY READJUST THEIR PORTFOLIO THEY LIKE THEY STILL LIKE FARM LAND IT DOESN'T MEAN THEY'RE GOING TO BE REAL ACTIVE INVESTORS OUT THERE RIGHT NOW BECAUSE THEY CAN SEE THE MARKETS A LITTLE BIT SOFTER AND THEY LOOK AT THE RETURNS BUT THE RETURNS ELSEWHERE AREN'T THAT GREAT YOUR RETURNS FARM LAND HAVE BEEN GOOD AND I THINK BOUGHT RIGHT IT STILL WILL LOOK THAT WAY BUT WHEN THEY LOOK AT BALANCING THEIR PORTFOLIO THEY'RE FINDING THAT FARM LAND HAS ABOUT A 60 TO 70% CORRELATION WITH INFLATION AND IT CORRELATES DIFFERENTLY THAN ANY OF THE OTHER PAPER ASSETS THAT THEY HAVE SO THEY TALK IN TERMS OF THEIR BETAS AND ALPHAS THEY'RE TRYING TO FIND ALPHA WHERE THEY GET ONE ASSET OVER HERE THAT OFFSETS THE MOVEMENT OF THAT ONE FARM LAND HELPS DO THAT SO THAT HAS THEIR INTEREST NOW THEY RUN INTO SOME REAL PROBLEMS BECAUSE THEY'LL CALL UP AND SAY YOU KNOW I'VE GOT 200 MILLION DOLLARS HERE WHAT'S THE COMMODITY CODE FOR FARM LAND WELL YOU CAN'T DO IT THAT WAY AND THEN THEY THEN THEY RUN INTO THE ISSUES OF WELL HOW DO YOU PUT THESE PACKAGES TOGETHER HOW DO DEAL WITH THAT MANY INDIVIDUAL BROKERS THAT ARE SELLING FARMLAND AND HOW DO YOU DEAL WITH THAT MANY TENANTS SO THAT'S  SLOWS THEM DOWN CONSIDERABLY BUT THERE'S A LOT OF INTEREST A LOT OF TALK THERE AND YOU'LL STILL SEE A LOT OF TALK THERE BUT THERE'S ONLY A FEW THAT ARE ACTUALLY GETTING THE JOB DONE. >> OKAY THANK YOU VERY MUCH MIKE WALSTEN OUR GUEST HERE ON AGDAY BACK WITH MORE IN A MOMENT.
WX:
WELCOME BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN. THE COLD AIR IS MOVING INTO THE EASTERN PORTIONS OF THE COUNTRY. THE MAIN STORM SYSTEM IS NOW INTO EASTERN PORTIONS OF CANADA. IT'S SWIRLING WINDS AROUND THAT AND CAUSING SOME SNOW. WE COULD SEE SNOW IN PARTS OF LOWER PENINSULA OF NORTHERN MICHIGAN. THERE ARE SOME SNOW SHOWERS COMING THROUGH THE NORTHERN PLAINS. ANOTHER RIPPLE COMING AROUND YOU ARE GOING TO SEE SCATTERED SNOW SHOWERS ACROSS THE NORTHERN PLAINS, A PLACE THAT HAS HAD A FOOT OF SNOW ALREADY. YOU WON'T GET ANY MORE OUT OF IT. BUT YOU CAN GET A FAIR AMOUNT IN THOSE PRIME LOCATIONS, ESPECIALLY IN THE NORTHERN AND WESTERN GREAT LAKES. IT WILL MOVE INTO PARTS OF NEW YORK AND PENNSYLVANIA. YOU CAN SEE THE COLD FRONT CONTINUES TO DROP SOUTH OF BROWNSVILLE AND IT BASICALLY COVERS MOST OF THE AREA EAST OF THE CONTINENTAL DIVIDE, EXCEPT FOR CENTRAL AND SOUTH FLORIDA. IT HAS MADE IT PAST THE DIVIDE IN PARTS OF THE PACIFIC NORTHWEST. SO, IT'S KIND OF AN AMAZING, COLD OUTBREAK FOR THIS TIME OF YEAR. THERE SHOULD BE A DOME OF HIGH PRESSURE BY LATE TOMORROW, STILL DOMINATING PARTS OF THE NORTH CENTRAL PLAINS. THIS WHOLE AREA IS WAY BELOW NORMAL FOR TEMPERATURES FOR THIS TIME OF YEAR. LAKE EFFECT SNOW WILL CONTINUE TO FLY IN MOST OF THE GREAT LAKES REGION. IT WILL HIT A FEW PLACES ALONG THE EASTERN SEABOARD. THIS SECONDARY SYSTEM THAT CAME INTO THE WEST  PRODUCES SOME RAIN IN THE WESTERN SECTIONS OVER THE NEXT 36 HOURS. WE WILL START TO PUT DOWN SOME SNOW IN SOME HIGHER ELEVATIONS IN THE ROCKIES. THERE'S THE PRECIPITATION ESTIMATE OVER THE NEXT 24 HOURS. YOU HAVE SEEN MOST OF IT ALREADY IN THE GREAT LAKES WITH THAT STORM SYSTEM. WE'RE GOING TO GET SOME DECENT AMOUNTS IN THE FAR SOUTHERN TIP OF TEXAS. AS WE TALKED ABOUT, WE ARE ALSO GOING TO GET SOME DECENT AMOUNTS IN NORTHERN CALIFORNIA, WESTERN OREGON AND EVENTUALLY INTO THE CENTRAL PORTIONS OF THE ROCKIES. AS FAR AS THE SNOW GOES, THE HEAVIEST HAS BEEN THROUGH THE NORTHERN GREAT LAKES OVER THE PAST 24 HOURS. OVER THE NEXT 36 HOURS, YOU CAN SEE IT'S ALL LIGHT STUFF ACROSS THE NORTHERN PLAINS, DOWNWIND FROM THE GREAT LAKES AND SOME HEAVIER STUFF IN THE HIGHER ELEVATIONS OF THE NORTH-CENTRAL ROCKIES AS WELL. THIS AFTERNOON, TEMPERATURE IN THE SINGLE-DIGITS IN THE NORTHERN ROCKIES...THAT'S 40'S IN NORTHERN DIXIE, 70'S AND 80'S IN THE FAR SOUTHEAST. LOW TEMPERATURES TONIGHT WILL DROP OFF BELOW ZERO IN THE NORTHWESTERN PLAINS, BELOW FREEZING ALL THE WAY DOWN INTO THE CENTRAL PLAINS. AS YOU CAN SEE TOMORROW, THE ONLY WARM AIR IS THE FAR SOUTHEASTERN PORTIONS OF THE COUNTRY. HERE'S THE JET STREAM. THERE YOU CAN SEE THE ROTATION IN THE UPPER JET STREAM. HERE'S ACTUALLY THE POLAR VORTEX ACTUALLY IS GOING TO COME FARTHER SOUTH AS WE HEAD INTO EARLY NEXT WEEK. IT STAYS WELL INTO CANADA BUT IT WILL HELP TO BRING COLDER AIR ONCE AGAIN INTO THE EASTERN TWO-THIRDS OF THE COUNTRY. THAT'S A LOOK ACROSS THE COUNTRY; NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL IN BURNS, OREGON. IT'S PARTLY SUNNY AND QUITE COLD. THE HIGH TEMPERATURE OF ONLY 33 DEGREES…IN HENRYETTA, OKLAHOMA, IT'S A MIXTURE OF CLOUDS AND SUNSHINE. THAT'S COLD FOR THIS TIME OF YEAR AS WELL THE HIGH OF 36. ROCHESTER, NEW YORK IS CLOUDY, WINDY AND TURNING COLDER. THE HIGH IS 45 AND FALLING.
100 IDEA:
TODAY'S 100 DOLLAR IDEA WINNER COMES FROM WEST-CENTRAL KANSAS. DON AND EARL SMITH HAUL THEIR SELF-PROPELLED SPRAYER ON A TRAILER...BUT THE FRONT-MOUNTED LADDER GETS CAUGHT-UP ON THE TRAILER DECK. DON EXPLAINED THE FIX TO FARM JOURNAL'S PAM FRETWELL.
ALUMINUM 150:
ALUMINUM ISN'T NEW TO THE AUTO INDUSTRY, BUT THIS IS THE FIRST TIME IT WILL COVER THE ENTIRE BODY OF SUCH A HIGH-VOLUME VEHICLE.  THE 2015 MODEL YEAR TRUCK IS SCHEDULED TO BE ON U-S DEALER LOTS NEXT MONTH. THE COMPANY SAYS IT BUILT NEARLY 648-THOUSAND F-150 PICK-UPS LAST YEAR.

 

 

 

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