AgDay Daily Recap - March 26, 2018

January 16, 2018 02:57 AM
 
AgDay

TODAY ON AGDAY
MARCH 26, 2018

HEADLINES

TARIFFS OR A TRADE WAR. THE LATEST BETWEEN THE U.S. AND CHINA. IN AGRIBUSINESS... LEARNING FROM LAST WEEK. MACHINERY PETE REVERSES COURSE-- AND COULD THIS BE THE NEXT OLYMPIC SPORT? AGDAY - BROUGHT TO YOU BY THE CHEVY SILVERADO, THE MOST DEPENDABLE, LONGEST-LASTING FULL  SIZE PICKUPS ON THE ROAD. "I'M SCARED TO DEATH." SENTIMENTS FELT BY MANY FARMERS IN THIS COUNTRY - UNCERTAIN AS TO HOW  A TRADE WAR WITH CHINA WOULD ROCK THE AGRICULTURAL SECTOR WITH  FALLING PRICES AND AN UN-CLEAR DEMAND PICTURE.

CHINA TARIFFS
GOOD MORNING, I'M CLINTON GRIFFITHS. COMMODITY TRADERS AND FARMERS WILL BE WATCHING THE MARKET THIS  MORNING TO SEE HOW SOYBEANS AND HOG FUTURES RESPOND TO FRIDAY'S DROP-OFF. THOSE AG MARKETS WERE LOWER AFTER  CHINA SLAPPED RECIPROCAL TARIFFS ON THREE-BILLION DOLLARS IN U-S.  IMPORTS. AS OF LATE LAST WEEK, CHINA PUT 128-ITEMS ON A HIT LIST OF U-S PRODUCTS IT  INTENDS TO TARGET WITH RETALIATORY TARIFFS. THAT LIST HITS SEVERAL FARM PRODUCTS, PORK IN PARICULAR. CHINA PLANS TO ASSESS A 25-PERCENT TAX ON U-S PORK SHIPPED INTO THAT  COUNTRY.  CHINA IS THE WORLD'S LARGEST PORK PRODUCER. IT'S ALSO THE  BIGGEST CONSUMER.  AND IT'S THE NUMBER TWO BUYER OF U-S PORK. OTHER PRODUCTS INCLUDE FRESH AND DRIED FRUITS, ALMONDS AND STEEL  PRODUCTS. BUT THE LIST DOES NOT INCLUDE SOYBEANS. THE U-S SHIPS 14-BILLION  DOLLARS WORTH OF SOYBEANS TO CHINA EACH YEAR. TRADERS AND ANALYSTS FEAR THAT COMMODITY COULD BE TARGETED. "I THINK WE'VE BEEN TAKEN ADVANTAGE OF BUT THEY HAVE BEEN BUYING A LOT OF BEANS  AND THAT HELPS. SO I'M VERY CONCERNED ABOUT THAT. WE'LL JUST HAVE TO WAIT AND SEE WHAT WE  GOT." THE INDUSTRY REACTING TO THE NEWS - THE NATIONAL PORK PRODUCERS COUNCIL SAYING - QUOTE 'HIGHER TARIFFS ON  OUR EXPORTS GOING THERE WILL HARM OUR PRODUCERS AND UNDERMINE THE  RURAL ECONOMY' - END QUOTE ONE OF THE MORE INTERESTING ASPECTS OF THIS TARIFF ACTION INVOLVES A  CHINESE-OWNED PORK PRODUCER HERE IN THE UNITED STATES. SMITHFIELD FOODS - BASED IN VIRGINIA - WAS PURCHASED BY CHINA'S W-H  GROUP IN 2013.  IT'S CHINA'S LARGEST MEAT PRODUCER. WHICH BEGS THE QUESTION. WILL THAT CHINESE-OWNED COMPANY BE  REQUIRED TO PAY THOSE TARIFFS? WE TURN TO BETSY JIBBEN FOR SOME ANSWERS. CLINTON, THERE IS A LOT OF TRADE UNCERTANITY WITH CHINA'S NEWS OF  PLANNING ON RETALIATION.  HOG MARKET FUTURES SHOOTING DOWN IN THE RED FRIDAY. IN ADDITION,  SHARES OF HONG KONG BASED W-H GROUP LIMITED PLUNGING ON FRIDAY DUE  TO ITS SISTER COMPANY IT AQUIRED - SMITHFIELD - WHICH IS THE WORLD'S  LARGEST PORK PRODUCER WITH LOCATIONS IN THE U.S.  KERNS AND ASSOCIATES ECONOMIST, STEVE MEYER SAYING IT DOESN'T LOOK AS  IF SMITHFIELD IS EXCLUDED FROM THE POTENTIAL TARIFF THREAT JUST YET  EVEN  THOUGH IT'S A CHINESE COMPANY.  BUT MEYER SAYING WHILE THE TARIFF IMPACT IS UNKNOWN AT THIS TIME - THERE  MAY BE SOME EXCEPTIONS IF HONG KONG IS INCLUDED.  STEVE MEYER SAID: "MORE THAN HALF OF PORK VARIETY MEATS WHICH WENT TO CHINA AND HONG KONG TOTAL WENT  THROUGH HONG KONG LAST YEAR. WE'VE HAD SOME ANECTODAL EVIDENCE THAT SAYS HONG KONG MAY  NOT EVEN BE INCLUDED IN THIS TARIFF. IF THAT'S THE CASE, THE  BACK DOOR WOULD STAY OPEN AND IT ALL  ALL DEPENDS WITH HOW TOUGH THE CHINESE WANT TO GET WITH PRODUCT FLOWING THROUGH HONG KONG.  MEYER SAYING -U.S.  PORK VARIETY MEAT COULD HAVE THE BIGGEST IMPACT IF  THE TARIFF THREAT BECOMES A REALITY.  U.S. MEAT EXPORT FEDERATION SAYING - CHINA WAS THE U.S. LARGEST  DESTINATION IN BOTH VOLUME AND VALUE FOR VARIETY MEAT EXPORTS IN 2017.  CHINA ACCOUNTED FOR MORE THAN ONE THIRD OF U.S. PORK VARIETY MEAT  EXPORTS LAST YEAR.  MEYER BELIEVES A TRADE DISRUPTION WITH MEXICO - WHO IS ONE OF THE U.S.  NAFTA PARTNERS- WOULD CAUSE MORE DAMAGE THAN IF CHINA TACKS TARIFFS ON U.S. PORK.  THE W-H GROUP - THEN KNOWN AS THE SHENG-WAY <SHUANGHUI> GROUP PAID  FOUR-POINT-SEVEN BILLION DOLLARS FOR SMITHFIELD. AT THAT TIME IT WAS THE LARGEST CHINESE ACQUISITION OF AN AMERICAN  COMPANY. ALSO LAST WEEK, THE ADMINISTRATION EXEMPTING THE EU AND 4 OTHER ALLIES  FROM STEEL AND ALUMINUM TARIFFS. PRESIDENT TRUMP MAKING IT OFFICIAL LATE THURSDAY NIGHT BY ISSUING A  PROCLAMATION SAYING THE TARIFFS WOULD BE DELAYED FOR THE E-U, AUSTRALIA, ARGENTINA, BRAZIL AND SOUTH KOREA. THOSE ALLIES UNTIL MAY FIRST TO GIVE LIGHTHIZER TIME TO NEGOTIATE  AGREEMENTS WITH EACH TRADING PARTNER TO ADDRESS U.S. NATIONAL  SECURITY CONCERNS.  THE PROCLAMATION ALSO COVERS MEXICO AND CANADA, WHICH TRUMP  PREVIOUSLY SAID WOULD BE EXEMPT.

KORUS RENEGOTIATIONS CLOSE
MEANWHILE, PRESIDENT TRUMP SAYS THE U-S AND SOUTH KOREA ARE CLOSE TO  FINISHING A RE-NEGOTIATED TRADE DEAL. THE PRESIDENT BRIEFED REPORTERS FRIDAY THAT HE HOPES TO MAKE AN  ANNOUNCEMENT THIS WEEK. THE PRESIDENT CALLED "KORUS" - WHICH WAS NEGOTIATED BY SECRETARY OF  STATE HILLARY CLINTON - A "HORRIBLE DEAL". THE PRESIDENT MADE THE COMMENTS DURING AN EVENT WHERE HE SIGNED  THE OMNIBUS SPENDING BILL. THERE WAS DRAMA FRIDAY AS THE PRESIDENT TWEETED OUT THAT HE  CONSIDERED VETOING THE FUNDING PLAN. BUT IN THE END HE SIGNED THE ONE-POINT-THREE TRILLION DOLLAR MEASURE. THE PRESIDENT WAS UPSET THE PACKAGE DOES NOT INCLUDE PROTECTIONS  FOR "DREAMER" IMMIGRANTS AND DOESN'T PROVIDE ENOUGH MONEY FOR HIS  PROMISED BORDER WALL. THE BILL INCLUDES CHANGES TO THE 199A TAX PROVISION, THE SO-CALLED  GRAIN GLITCH FIX. THE PREVIOUS VERSION BENEFITED GRAIN SALES TO CO-OPS OVER PRIVATE  GRAIN ELEVATORS.

FARM BILL UNCERTAINTY
FOLLOWING THE DEBATE ON A SPENDING BILL, IT NOW REMAINS WHETHER ANY  OTHER LEGISLATION CAN BE COMPLETED BEFORE ELECTIONS IN NOVEMBER. THAT INCLUDES A FARM BILL...WHERE IN THE HOUSE, BIPARTISANSHIP  CONTINUES TO DETERIORATE. THE HOUSE AG COMMITTEE ALREADY AT AN IMPASSE ON THE LEGISLATION OVER  DISAGREEMENTS TO CHANGES IN THE NUTRITION PORTION OF THE BILL. CHAIRMAN MIKE CONAWAY NOW SAYING HE MAY PASS THE FARM BILL ON A PARTY  LINE VOTE. RANKING MEMBER COLIN PETERSON SAYS IT APPEARS WE'RE NOW TALKING  ABOUT A FARM BILL EXTENSION IN 2018.

CROP COMMENTS
LET'S TAKE A QUICK BREAK FROM WASHINGTON NEWS AND SEE WHAT MIKE  HOFFMAN IS FINDING FOR US ON THE FARM FOR CROP COMMENTS.  MIKE.  GOOD MORNING, CLINTON.  WE'RE STARTING OFF THIS MONDAY MORNING IN TUMBLETON, ALABAMA WHERE  PLANT 2018 HAS BEGUN!JASON BURKE SAYING HE'S PLANTING THE FIRST OF HIS CORN FIELDS.  HE SAYS THE SOIL TEMPERATURE IS PERFECT, IN FACT, PLANTING CONDITIONS  ARE JUST RIGHT.  OVER IN BURT COUNTY, NEBRASKA - MATT NELSON SAYS THE SNOW IS GONE, IT'S A BEAUTIFUL SPRING DAY AND A  WONDERFUL SUNSET.  NOW TAKING A LOOK AT THE ESTIMATED RAINFALL LAST WEEK. THIS GOES FROM THE PREVIOUS SATURDAY  THROUGH THIS PAST FRIDAY. YOU CAN SEE A STRIP FROM KANSAS INTO THE MID-ATLANTIC STATES. BUT A  LOT OF WHAT WE'RE SEEING IS ARE SOME OF THE HEAVIEST AREAS THERE. EASTERN PANHANDLE IN  NORTHERN PORTIONS OF FLORIDA ENDING UP WITH SOME BIG WEATHER AND ALSO SOME SEVERE  WEATHER TO GO ALONG WITH THAT. WE'LL CHECK OUT YOUR FORECAST FOR THE WEEK. FIRST HERE ARE  SOME HOMETOWN TEMPS.

TEASE
WHEN WE COME BACK WE'LL GET YOUR STARTED FOR THE WEEK AHEAD...AND IT  LOOKS TO BE A BUSY ONE. ANALYSIS IS NEXT. AND LATER MACHINERY PETE. SOMETIMES WE TALK RECORD HIGH AUCTION PRICES TODAY. WE'RE GOING TO TALK LOWEST AUCTION  PRICES. AND LATER, GRAB YOUR AXE--ITS TIME FOR A NIGHT ON THE TOWN. THE LATEST CRAZE TODAY ON IN THE COUNTRY. AGDAY - BROUGHT TO YOU BY PROSARO FUNGICIDE FROM BAYER. 

FLOOR OF THE CME
IN AGRIBUSINESS COMMODITY MARKETS FEELING THE WEIGHT OF TRADE  ISSUES. LETS SEE WHERE THINGS SETTLED ON FRIDAY...FROM THE FLOOR OF THE CME IN  CHICAGO. WE'RE LOWER THAT CHINA TRADE WARS ARE REALLY WERE PRESSURING THE FUTURES RIGHT OUT OF THE BOX  REALLY PRESSING DOWN THERE HAS BEEN SOME RECOVERY AS THE MARKETS STARTED TO MOVE THROUGH  THE DAY. BUT ALL THAT BEING SAID IT'S STILL DRY IN ARGENTINA. SO THAT KIND OF NEWS THAT AT SOME  POINT IS GOING TO START TO KICK IN AND WE START DOESN'T REALLY SEE WHAT THE DAMAGE IS DOWN  THERE. THAT SHOULD HELP OUR MARKETS CORN WAS ALSO EASIER. THAT BIG SLIDE. EARLY RECOVERED  ACTUALLY QUICKER THAN THE SOYBEANS DID. AND IT SEEMS LIKE THIS WILD VOLATILITY IS REALLY  DISTRACTING THE TECHNICAL NUMBERS BECAUSE ON THE FUTURES BECAUSE IT SEEMS THAT EVEN  THOUGH THAT WE'RE IN A LITTLE BIT OF A MINOR TREND ON THE DOWNSIDE THESE WEEKLY EXPORTS FOR  CORN REMAIN ACTUALLY VERY BULLISH.  THAT'S ALL FROM THE FLOOR AT THE CME GROUP HERE IN CHICAGO  I'M VIRGINIA MCGATHEY

AGRIBUSINESS
HERE AT THE AGRIBUSINESS DESK BRIAN DOHERTY MATT BENNETT THANK YOU BOTH FOR BEING HERE.  ALL RIGHT. LET'S LOOK AT THE WEEK THAT WAS LAST WEEK PLENTY GOING ON. WHAT DID YOU LEARN LAST  WEEK. WHAT ARE YOU TAKING AWAY AS WE MOVE FORWARD INTO 2013 METALS YOU. WELL I THINK ONE  THING THAT WE LEARNED LAST WEEK OBVIOUSLY YOU COME INTO THE WEEK AND IT WAS JUST A ROUGH  START. YOU KNOW WE HAD READ ALL ACROSS THE SCREEN DIDN'T MATTER WHAT YOU'RE LOOKING AT.  COMMODITIES GOT BEAT UP PRETTY HEAVILY ON LAST MONDAY AND THE REST OF THE WEEK IT JUST  SEEMED LIKE IT COULD REALLY GET OFF THE MAT. YOU KNOW COMING INTO THE WEEK OVERNIGHT  MARKETS THERE ON THURSDAY NIGHT WERE UGLY AS COULD BE. ONCE WE STARTED TALKING ABOUT  SOME OF THE TERROR SITUATION WITH CHINA BUT ACTUALLY THE MARKETS PERFORM ADMIRABLY GOING INTO  THE WEEKEND AND TRY TO RECUPERATE SOME OF THE LOSSES I THINK THERE'S STILL A LOT OF FOLKS LOOKING  AT THE AGAR'S REPORT WHICH WE CAN TALK ABOUT HERE A LITTLE BIT BUT IT'S PART OF THE REASON WHY I  DON'T THINK PEOPLE WANT TO PUSH THE DOWNSIDE TOO FAR. YEAH. WHAT DO YOU THINK OF WHAT YOU  LEARN. YEAH A COUPLE OF THINGS. AS MATT SAID WE GOT OFF TO A ROUGH START LAST WEEK IN PART  THOUGH TO BE INFORMED THE FUND MONEY MANAGED MONEY WAS STRONGLY LONG BEANS AND CORN.THAT LEAVES THE MARKET VULNERABLE TO A BREAK. SO YOU WILL RECOGNIZE THAT WHEN THOSE  POSITIONS REALLY START TO BUILD UP AND GET TOWARD HISTORIC LEVELS THE MARKET NEEDS SOMETHING  TO FEED IT TO KEEP GOING. AND CONSEQUENTLY IT'S EASY FOR PRICES TO BREAK AND THAT'S PROBABLY  WHAT WE SAW. THE OTHER THING I LEARNED LAST WEEK TOO IS THAT FARMERS ARE HOLDING A LOT OF  INVENTORY SO WHEN WE DO GET RALLIES THEY'RE SELLING WE'RE SEEING THE THE NINE COMMERCIALS  REALLY AGGRESSIVELY SELL LAST WEEK WHICH MEANT THEY WERE BUYING A LOT OF GRAIN. ALL RIGHT. SO  REAL QUICK WHAT ARE YOU GOING TO WATCH FOR KEY FOR THIS WEEK. OBVIOUSLY THE ACREAGE REPORT  COMING OUT THERE'S A LOT OF DIFFERENT CROPS VYING FOR A FEW MORE ACRES. ARE WE GOING TO SEE A  SUB 90 OR SOME 89 ON CORN IF WE DO LONG TERM. THAT'S A PRETTY FRIENDLY THING FOR ME ESPECIALLY  IF WE HAVE ANY SORT OF SUMMER WEATHER. HOW HIGH IS THE NUMBER GOING TO BE AS HE REALIZED  HE WAS GOING TO BE 92. OBVIOUSLY THERE ARE SOME IMPLICATIONS THAT COME ALONG WITH THAT TOO.  WHAT DO YOU THINK. YEAH I AGREE WITH MATT THAT WE GET THIS HUGE REPORT COMING OUT SO THAT'LL  BE THE BIG NEWS EVENT FOR THE LEAK WEEK MOST LIKELY UNLESS IT'S SOMETHING WITH TAROF BEYOND  WHAT WE KNOW NOW. SURE. OR THE BUDGET. BUT SO IT'S NOT SO MUCH YOU KNOW WHAT THAT'S GOING  TO SAY IT'S HOW DO WE PREPARE IN CASE WHATEVER IT DOES SAY. SO I HAVE A GENERAL GUESS LITTLE  PRIVACY OR CONFIRM BIG BEAN ACRES. WHAT DOES THAT MEAN TO THE MARKET. DOES THAT MEAN TO  YOU AS A FARMER. SO THINK ABOUT PRIOR TO THE REPORT HOW YOU WANT TO BE POSITIONED TO MANAGE  THAT VOLATILITY. ALL RIGHT START DIGESTING SOME OF THIS STUFF PUTTING THE PIECES TOGETHER. THANK  YOU BOTH FOR BEING HERE. WE'LL BE BACK WITH MORE AG DAY IN JUST A COUPLE OF MINUTES.

WEATHER
WELCOME BACK TO AGDAY ON THIS MONDAY MORNING WITH MIKE HOFFMAN LOOKING AT THE DROUGHT  MONITOR AND MIKE THERE ARE SOME PLACES GETTING BETTER PARTICULARLY OUT ON THE WEST COAST.  YEAH CALIFORNIA'S IMPROVED OVER THE PAST FEW WEEKS AND MUCH OF THE SOUTHERN MISSISSIPPI  VALLEY BUT NOT SO MUCH RIGHT THERE IN THE MIDDLE OF THE COUNTRY. TEXAS OKLAHOMA PANHANDLE  SOUTHWESTERN KANSAS AND THAT AREA OBVIOUSLY EXTENDS BACK INTO THE FOUR CORNERS REGION  MUCH OF ARIZONA NEW MEXICO AND SOUTHERN COLORADO AND MUCH OF UTAH STILL VERY VERY DRY.  THERE'S ALSO DRY SPOTS IN SOUTHEASTERN GEORGIA AND PARTS OF THE WESTERN DAKOTAS  NORTHEASTERN MONTANA STILL DRY BUT THAT'S A LOT BETTER THAN YOU FOLKS WERE A YEAR AGO. LET'S GO  BACK A MONTH AND YOU CAN SEE HOW THE AREAS HAVE BEEN GETTING BETTER THROUGH THE CENTRAL  EAST CENTRAL PLAINS ANYWAY MIDDLE MISSISSIPPI VALLEY. THOSE AREAS HAVE DEFINITELY IMPROVED  BUT IT HAS GOTTEN WORSE RIGHT THERE IN THE BULL'S EYE AREA FROM THE TEXAS PANHANDLE INTO  SOUTHWESTERN KANSAS. THERE IS THE JET STREAM AS WE START THE WEEK. WE'VE BEEN IN THIS  PATTERN WITH A TROUGH OFF THE EAST COAST TROUGH IN THE WEST AND OCCASIONALLY WE GET A RIDGE  THAT WARM THINGS UP IN THE MIDWEST BUT IT HASN'T BEEN A LOT THIS YEAR. BUT AS WE PUT THE MAPS  INTO MOTION WE'RE KIND OF SEEING SOMETHING EVOLVING HERE A LITTLE BIT OF A CUTOFF THERE IN THE FAR  SOUTH WEST. TROUGH JUST THROUGH THE MIDDLE OF THE COUNTRY AS WE HEAD THROUGH THE MIDDLE OF  THIS WEEK AND THEN AS WE HEAD THROUGH THE END OF THE WEEK THE TROUGH TRIES TO REDEVELOP IN  THE EASTERN PORTIONS OF THE COUNTRY. BUT THERE'S NO TROUGH OUT WEST SO THIS IS A TOTAL CHANGE IN  WHAT THE PATTERN HAS BEEN OVER THE PAST MONTH MONTH AND A HALF. WHAT THIS TRANSITION LEADS  TO IS STILL A BIG QUESTION MARK MIDDLE EAST BY EARLY NEXT WEEK WE ARE LOOKING AT A TROUGH IN  THE EAST SPECS OF THE GREAT LAKES AND A RIDGE IN THE WEST THAT WILL CHANGE THINGS  TEMPERATURES THIS WEEK AND THAT'S WHY I'M GOING ABOVE NORMAL FOR A CHANGE IN THE FAR WEST  BELOW NORMAL EAST OF THE ROCKIES RIGHT DOWN THROUGH THE CENTRAL AND NORTHERN PLAINS STATES  MOSTLY NORMAL EAST OF THERE ALTHOUGH EASTERN MAINE AND NORTHEAST WE'RE PROBABLY ABOVE  NORMAL PRECIPITATION FOR THE COMING WEEK. WE'RE LOOKING AT A COUPLE OF STORM SYSTEMS KIND OF  MOVING EAST TO WEST OR WEST TO EAST AND A LOT OF MOISTURE COMING UP OUT OF THE GOFF'S SO THE  GULF OF MEXICO UP TO THE GREAT LAKES THROUGH THE NORTHEAST ABOVE NORMAL BELOW NORMAL FOR  MUCH OF FLORIDA. MOST OF THE SOUTHWEST AND MOST OF THE FAR NORTHERN PLAINS 30 THE OUTLOOK  FOR TEMPERATURES BELOW NORMAL FOR THE NORTHERN PLAINS ALL THE WAY DOWN TO ILLINOIS INDIANA  GREAT LAKES NORTHEAST ABOVE NORMAL GOLF COAST AND MOST OF THE SOUTHWEST PRECIPITATION  OVER THE NEXT MONTH BELOW NORMAL IN THE SOUTHEAST SOUTHWEST ABOVE NORMAL NORTHEAST  MONTANA AND THOSE AREAS IN THE DROUGHT RIGHT NOW AND ALSO ABOVE NORMAL GOLF COAST ALL THE  WAY TO THE GREAT LAKES. THAT'S A LOOK ACROSS THE COUNTRY. NOW LET'S TAKE A LOOK AT SOME LOCAL  FORECASTS. FIRST OF ALL WE HEAD TO BAKERSFIELD CALIFORNIA PARTLY SUNNY AND PLEASANT TODAY. HIGH  TEMPERATURE AROUND 60 DEGREES HERE ON SOUTH DAKOTA. CLOUDY A SHOWER TO POSSIBLE WITH A  HIGH OF 41 AND KNOXVILLE TENNESSEE. TIMES OF CLOUDS AND SUNSHINE. HIGH AROUND 60.

TEASE
UP NEXT MACHINERY PETE GOES LOW...AS IN THE LOWEST PRICES HE'S SEEING  ON CERTAIN EQUIPMENT. INSIGHT YOU WON'T WANT TO MISS. AND LATER, LEAVE THE BOWLING BALL IN THE CLOSET, KEEP THE GOLF CLUBS IN  STORAGE, BUT GRAB YOUR AXE FOR A PAST TIME ON THE RISE.

MACHINERY PETE
MACHINERY PETE TALKS A LOT ABOUT THE HIGHEST PRICES HE'S SEEN ON USED  EQUIPMENT TODAY...HE TAKES THE OPPOSITE APPROACH. GREG. NO FOLKS I DON'T SIT AROUND THE OFFICE AND JUST WORRY ABOUT RECORD HIGH AUCTION PRICES. I KNOW IT  CAN SEEM THAT WAY SOMETIMES. BUT REALLY FOR 20 PLUS YEARS MY THING IS JUST WE WANT TO  COMPILE AS MUCH DATA AS WE CAN REGARDLESS OF CONDITION AND PRICE AND PAINT AN ACCURATE  PICTURE ON WHAT'S HAPPENING WITH NEWS VALUES. LET'S TAKE A VERY SPECIFIC EXAMPLE LET'S LOOK  AT JUST 2010 MODEL JOHN DEERE 8320R TRACTORS AND YES I HAVE SEEN SOME SOLD VERY HIGH  RECENTLY. HERE'S A PICTURE OF ONE AGAIN A 2010 MODEL. TWELVE HUNDRED SEVENTY THREE HOURS  ON UNSOLD SOLD DECEMBER 6TH ON A FARM AUCTION NORTHEAST MISSOURI FOR ONE HUNDRED NINETY  FIVE THOUSAND BUCKS. NOW THAT'S A VERY STRONG PRAISE ON A 2010 MODEL. BUT IF WE PULL BACK  THE AVERAGE AUCTION PRICE ON THE LAST 12 2010 MODELS THAT WE'VE SEEN IS WAY LOWER IT'S A  HUNDRED AND 22000 TO 50. IN FACT HERE'S A LOOK AT THE FIVE LOWEST AUCTION PRICES ON 2010. JOHN YOU'RE 8320R TRACTORS I'VE SEEN THE LAST 15 MONTHS AND YOU COULD SEE DOWN AS LOW AS  80000 BUCKS ON A CONSIGNMENT AUCTION IN CENTRAL CALIFORNIA FEBRUARY 2017 DID HAVE SEVENTY  EIGHT HUNDRED THIRTY FIVE HOURS ON IT NOW. REALLY INTERESTING RIGHT NOW FOLKS AGAIN. THE GOOD  CONDITION STUFF LIKE I SAY HAS BEEN SELLING WELL ON FARM AUCTIONS GOING BACK TO NOVEMBER. BUT  JUST THE LAST 10 DAYS WE HAVE STARTED TO SEE SOME SOFTENING PRICES ON WHOLESALE AUCTIONS  AROUND THE COUNTRY. AND THE AVERAGE CONDITION STUFF ALSO SLIDING THAT'S GOING TO BE REALLY  INTERESTING ESPECIALLY NOW GIVE WE ARE TIPTOEING TOWARDS POTENTIAL TRADE WARS WITH CHINA.  WHAT EFFECT COULD THIS HAVE ON USE FOR RECOUPING VALUES THANKS GREG.

TEASE
WELL UP NEXT ANOTHER NUMBERS GAME YOU MIGHT ENJOY--ONLY THIS ONE  INVOLVING AN AXE AND PINT OF BEER. DETAILS NEXT.

IN THE COUNTRY
IN THE COUNTRY - SPONSORED BY KUBOTA.  TRACTORS, HAY TOOLS, UTILILTY VEHICLES, MOWERS AND  MORE.  VISIT KUBOTA.COM TODAY.AXE THROWING IS QUICKLY BECOMING A POPULAR SPORT AT BARS ACROSS  NORTH AMERICA.  ENTHUSIASTS ARE STARTING LEAGUES AND SOME HAVE THOUSANDS OF  MEMBERS. THERE'S EVEN HOPE TO ONE DAY BRING THE SPORT TO THE OLYMPIC GAMES. ROBERT BUMSTEAD REPORTS. FROM LUMBERJACK ROUGH — TO HIPSTER CHIC. THE SPORT OF AXE THROWING IS BECOMING A POPULAR IN BARS ACROSS THE  COUNTRY. "PEOPLE ARE LIKE 'OH SHARP OBJECTS AND BEER, WHAT A GREAT IDEA THAT IS,' BUT TRUTHFULLY AFTER YOU  HAVE A COUPLE DRINKS YOU START TO ACTUALLY THROW A LITTLE BIT BETTER." KICK AXE THROWING IN BROOKLYN'S UP-AND-COMING GOWANUS  NEIGHBORHOOD IS THE FIRST SUCH VENUE TO OPEN IN NEW YORK CITY. "YOU'RE HANGING OUT WITH THE HIP YOUTH OF BROOKLYN THROWING SHARP OBJECTS AT A BOARD." 'AXEPERT' ALEXANDER STINE TEACHES BEGINNERS THE PROPER TECHNIQUE. "CROSS YOUR THUMBS LIKE SUCH, THIS IS GOING TO KEEP THE AXE SO IT DOESN'T GO ALL WOBBLY WHEN  IT LEAVES YOUR GRIP. NEXT, YOU'RE GOING TO PLACE IT RIGHT OUT IN FRONT OF YOU POINTING AT WHAT YOU  WANT TO HIT. RELEASE AT ABOUT FOREHEAD HEIGHT AFTER BRINGING IT ALL THE WAY BACK." ON THIS THURSDAY NIGHT.. KICK AXE WAS PACKED WITH GROUPS OF FRIENDS  AND COMPANIES OUT FOR A TEAM-BUILDING EXERCISE. "IT'S A VERY SAFE TAKE ON A CLASSIC GAME: THROWING SHARP THINGS AT STATIONARY WALLS." KICK AXE IS JUST ONE OF DOZENS OF SIMILAR VENUES THAT HAVE POPPED UP IN  RECENT YEARS. IT'S A CASUAL NIGHT OUT FOR SOME — BUT FOR OTHERS — THIS IS SERIOUS  COMPETITION. AXE THROWING IS VERY CATHARTIC "IT'S DEFINITELY A GOOD WAY TO RELEASE SOME ENERGY AFTER A LONG DAY AT WORK." IT'S CHAMPIONSHIP NIGHT AT BAD AXE THROWING IN CHICAGO FOR MEMBERS OF  THE WORLD AXE THROWING LEAGUE. "WINNER TAKE ALL — SINGLE ELIMINATION." THE OWNER OF THIS CANADIAN-BASED CHAIN OF VENUES STARTED THE WORLD  AXE THROWING LEAGUE A YEAR AGO — AND IT ALREADY HAS 25-HUNDRED  MEMBERS. "WE HAVE PEOPLE WHO ARE 18 YEARS OLD IN THE LEAGUE. WE HAVE PEOPLE UP IN THEIR 70S AND  WE ALL SORTS OF DIFFERENT PROFESSIONS. WE'VE GOT ACCOUNTANTS WE'VE GOT CRAFTSMEN ALL SORTS OF  PEOPLE THERE." IN DECEMBER THEY EVEN HELD THE FIRST WORLD CHAMPIONSHIP TOURNAMENT  — PLAYED VIRTUALLY AND BROADCAST ON FACEBOOK THE GRAND PRIZE: 35-HUNDRED DOLLARS AND BRAGGING RIGHTS AS THE FIRST  WORLD CHAMPION ENTHUSIASTS SAY THE ULTIMATE GOAL.. IS TO MAKE AXE THROWING AN OLYMPIC  SPORT. "IT'S VERY COMPETITIVE… TAKES SKILL." "THIS SHOULD DEFINITELY BE AN OLYMPIC SPORT. IF CURLING IS, THEN THIS SHOULD BE TOO." ROBERT BUMSTED.. ASSOCIATED PRESS.

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR ALL OF US AT AGDAY I'M CLINTON GRIFFITHS. HAVE A GREAT DAY. AGDAY - BROUGHT TO YOU BY RAM COMMERCIAL - AMERICA'S LONGEST-LASTING HEAVY DUTY  PICKUPS.

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