AgDay Daily Recap - May 4, 2017

May 4, 2017 02:57 AM
 
AgDay

TODAY ON AGDAY
MAY 4, 2017


FLOODING CONTINUES AS MORE RAIN POURS INTO THE MIDWEST. AN UPDATE  FROM THE KANSAS WHEAT TOUR. LOOKING AT DEMAND IN THE PORK INDUSTRY.  IN AGRIBUSINESS... TAKING ADVANTAGE OF BASIS CONTRACTS. CHECKING ON CASH CATTLE PRICES ON DROVERS TV. AND THIS NORTH DAKOTA  BARBER IS CUTTING A PATH TOWARD RETIREMENT AFTER 5 DECADES IN THE  CHAIR. AGDAY-BROUGHT TO YOU BY THE DEPENDABLE, LONG LASTING CHEVY  SILVERADO.

FLOODING IN ILLINOIS, MISSOURI
GOOD MORNING I'M CLINTON GRIFFITHS. A LARGE SWATH OF THE CENTRAL CORN  BELT IS GETTING HIT WITH MORE RAIN -- THE LAST THING THAT FARMERS FROM  ARKANSAS TO INDIANA WANT TO SEE AS THEIR PLANTERS SIT IDLE AND  LIKELIHOOD OF RE-PLANT GOES HIGHER. AFTER A COUPLE DAYS OF MILD WEATHER, MORE RAIN MOVED INTO MISSOURI  AND CENTRAL ILLINOIS - AREAS THAT DEALING WITH SEVERE FLOODING. USDA SAYS RAINFALL TOTALS COULD BE ANYWHERE FROM ONE TO FOUR  ADDITIONAL INCHES, CREATING PROBLEMS IN THE LOWER MISSISSIPPI VALLEY. AS THE RUN-OFF FLOWS INTO THE MISSISSIPPI AND MISSOURI RIVERS, TOWNS  SOUTH OF ST. LOUIS COULD SEE SIGNIFICANT FLOODING. DOWNSTREAM IS ARKANSAS - WHICH IS ALREADY DEALING WITH HEAVY  FLOODING. RECORD HIGH WATER IN NORTHEAST ARKANSAS HAS ERODED OR DESTROYED  RICE LEVEES. THE UNIVERSITY OF ARKANSAS EXTENSION SAYS THE STATE COULD LOSE ABOUT TEN PERCENT OF PLANTED RICE ACRES.

WHEAT TOUR
THE WHEAT QUALITY COUNCIL TOUR IS WRAPPING-UP THEIR SCOUTING TRIP  TODAY IN KANSAS. THEY GOT A FIRST-HAND LOOK AT THE SNOW THAT COVERED A  LARGE PORTION OF THE KANSAS WHEAT CROP. BUT THEY ALSO SAW THE IMPACT OF A FREEZE THAT HIT A WEEK PRIOR TO THE  SNOW. ON THE FIRST DAY THE AVERAGE YIELD FROM EASTERN KANSAS WAS 43  BUSHELS AN ACRE....DOWN FOUR BUSHELS FROM THE SAME AREA LAST YEAR.   BUT THE FARTHER WEST THE CARAVAN WENT, THE BIGGER THE DROP IN QUALITY  AND POTENTIAL. "WE ARE ON THE WHEAT TOUR AND MAN IF YOU CAN KIND OF SEE BEHIND US A  LOT OF SNOW AND A LOT OF WHEAT UNDER SNOW PHILLIP IS HERE WITH US  NEVER SEEN ANYTHING LIKE THIS WHAT ABOUT I KNOW YOU HAVE BEEN ON  WHEAT TOUR BEFORE ISN'T THIS INCREDIBLE. IT'S AMAZING THIS IS MY SIXTH  TOUR WE'VE SEEN ALL KINDS OF CONDITIONS HERE THOSE LAST SIX YEARS BUT  THIS IS DEFINITELY ONE OF THE MOST UNIQUE ENVIRONMENTS WE'VE SEEN. NOW ONE OF THE THINGS WE TALKED ABOUT LAST NIGHT AT OUR MEETING WAS  WHETHER OR NOT THINGS LIKE THIS ARE GOING TO COME OUT OF THIS. YEAH I  MEAN OBVIOUSLY NOBODY WAS EXPECTING TO HAVE THIS BE THE MAIN NEWS  EVENT ON THE TOUR WITH GREAT CONDITIONS FOR THE LAST FOUR OR FIVE  MONTHS HAVING THIS BIG SNOW EVENT IN THIS LAST WEEKEND REALLY IS  DRIVING A LOT OF INTEREST IN THIS TOUR SO BE REALLY CURIOUS TO SEE AS WE  MOVE FURTHER IF THIS CONTINUES TO KEEP HAPPENING THESE FLAT FIELDS  SNOW COVERED FIELD OR IF WE'RE GOING TO SEE CONDITIONS IMPROVE."

CATTLE SEARCH
SOME FARMERS AND RANCHERS IN THE CENTRAL PLAINS ARE STILL LOOKING  FOR LOST CATTLE AFTER THE STORM. WE TOLD YESTERDAY ABOUT CLAY CRABTREE OF CIMARRON COUNTY,  OKLAHOMA. HE SAYS ABOUT 150 OF HIS CATTLE DIED.  MUDDY CONDITIONS ARE MAKING IT DIFFICULT TO FIND SURVIVORS. WHILE LOSSES LIKE THIS HAVE A BIG IMPACT ON INDIVIDUAL PRODUCERS, IT  APPEARS MARKET IMPACT IS LIMITED. "I REALLY DON'T THINK THAT THE OVERALL IMPACT OF THE DEATH LOSSES WILL  BE ENOUGH OR EVEN THE LOSS PERFORMANCE OF FEEDLOT CATTLE WILL BE  ENOUGH TO FUNDAMENTALLY CHANGE THE SUPPLY PICTURE IN TERMS OF THE  OVERALL MARKET IMPACT."PEEL SAYS THIS STORM WAS AN ISOLATED EVENT. HAD IT OCCURRED DURING  THE WINTER SEASON AND WAS PROLONGED, THE MARKET RESPONSE WOULD  HAVE BEEN MORE EVIDENT.

PORK DEMAND AND PRICE IMPACT
TRADE IS A BIG DRIVER OF VALUE IN THE AGRICULTURAL INDUSTRY.  THAT'S ESPECIALLY TRUE FOR PORK. TYNE MORGAN JOINS US THIS MORNING WITH THE DEMAND OUTLOOK FOR PORK  AND HOW ADDED PRODUCTION COULD IMPACT PRICES. TALKS OF PULLING OUT OF NAFTA LAST SENDING RIPPLES THROUGH THE PORK  INDUSTRY. THOSE PRODUCERS SEEING IMPRESSIVE DEMAND SO FAR THIS YEAR, WITH  FEBRUARY SHIPMENTS TO MEXICO UP 22 PERCENT.  BUT IT'S BILATERAL TRADE DEALS SOME IN THE INDUSTRY SAY ARE NEEDED TO  ENSURE THE DEMAND BOOM DOESN'T BUST. MICHIGAN PORK PRODUCER BRAD BLONE IS IN EXPANSION MODE... I WOULDN'T SAY IT'S SOMETHING WE HAD TO DO. I JUST THINK THAT THE TIME WAS RIGHT."HE'S NOW ABLE TO HOUSE 32 THOUSAND HEAD OF PIGS A YEAR... AND NOT ONE  OF THOSE WILL HE OWN. THE TIMING IS ALL BECAUSE OF A MASSIVE PORK PROCESSING SITE, SET TO  OPEN 15 MILES DOWN THE ROAD FROM BLONDE ON SEPTEMBER 5TH  I THINK AT ONE TIME WE'D LOOKED AT 30 DIFFERENT COMMUNITIES, AND ATUALLY SETTLED IN ON  COLDWATER, BECAUSE OF PROXIMITY TO SUPPLY, BUT ALSO HIGHWAY INFRASTRUCTURE OF I-69 RUNNING  NORTH AND SOUTH AND I-80 RUNNING EAST TO WEST, SEEMED TO BE REALLY A GOOD SPOT FOR US TO  KIND OF SETTLE IN AND CALL COLWATER OUR HOME.WHILE THIS SITE IS SET TO OPEN IN SEPTEMBER, A PLANT IN SIOUX CITY, IOWA  COULD BE ONLINE AS EARLY AS AUGUST.  NEITHER ONE OF HTOSE PROBABLY UP TO THEIR FULL CAPACITY OF ABOUT 10,000 HEAD PER DAY, BY TEH END OF TH EYEAR, BUT THEY ARE SURE GOING TO HELP OUT ALOT.MEYER SAYS THAT'S HELPING SOLVE LAST YEAR'S PROBLEMS WITH PROCESSING  CAPACITY... WE WERE VERY TIGHT LAST FALL, AS A MATTER OF FACT WE WERE RIGHT AT OR EXCEEDED SLAUGHTER  CAPACITY IN ABOUT 9 WEEKS DURING THAT FALL, AND IF YOU ALLOW FOR THE FACT THAT AT TH HOLIDAYS THEY  WERE AT CAPCITY TOO THEY WERE JUST A DAY SHORT, THAT WOULD BE 11 WEEKS. THAT PRESSURED PORK, PUSHING PRICES LOWER IN 2016.  BUT NOT ENOUGH CAPACITY COULD SOON BE TOO MUCH, I MEAN IF YOU ADD UP THE CAPACITY INCREASES HERE, WE'RE TALKING ABOUT 9 TO 10 PERCENT  INCREASE IN CAPACITY OVER A 3 YEAR P ERIOD. AND THAT IS A VERY RAPID GROWTH RATE.THEN THE QUESTION BECOMES IS THERE ENOUGH DEMAND? WELL, THAT'S GOING TO BE THE QUESTION. LET'S PUT IT THIS WAY, WE WILL EAT ALL THAT WE PRODUCE, THE  QUESTION IS AT WHAT PRICE WILL WE GET IT DONE.MEYER POINTS TO EXPORTS AS THE BRIGHT SPOT, UP 16 PERCENT FROM LAST  YEAR. BUT I DON'T THINK WE CAN KIND OF HOLD OUR BREATH AND HOPE THAT WE HAVE THAT KIND OF GROWTH  ON EXPORTS FOR A LONG TIME, THER'S NOT A LOT LEFT IN THE EXPORT MARKET AND UNTIL WE GET SOME  OTHER FREE TRADE AGREEMETNS,MEYER SAYS WHILE HE THINKS SEASONAL DEMAND COULD PUSH PORK PRICES  HIGHER DURING THE SECOND AND THIRD QUARTER OF THE YEAR, THE OUTLOOK  ISN'T AS BRIGHT IN Q- 4.  NOT AS WEAK AS LAST FALL BEACUSE WE WON'T HAVE THE PACKING CAPACITY ISSUES THAT PUSHED  THOSE PRICES DOWN THE LAST 10 OR 15 DOLLAR DROP THE FALL OF 2016. WAVES OF COMMODITY MARKETS.  THE MARKET IS THE MARKET. IT GOES UP IT GOES DOWN. WITH THIS SCENARIO, WE STILL GET TO DO WHAT  WE LIKE, WE GET TO RAISE PIGS, WE GET TO HAVE THE MANURE FOR FERTILIZER AND WE GET A GOOD  STEADY INCOME.AN OPPORTUNITY HE THINKS WILL HELP BRING HOME THE BACON IN THE END.  MEYER SAYS THERE'S A LOT OF FOCUS ON CHINA, SINCE CHINA SURPASSED  JAPAN LAST YEAR AS THE LARGEST IMPORTER OF U-S PORK FOR THE FIRST TIME  EVER.BUT HE FEARS THE PORK CONSUMPTION GROWTH RATE IN CHINA WILL BE  SLOWER THAN HE'D LIKE. CLINTON.

CROP COMMENTS
LET'S TURN NOW TO MIKE HOFFMAN AND TODAY'S CROP COMMENTS, MIKE.GOOD MORNING CLINTON. COLORADO FARMS AND RANCHERS FELT SOME OF  THE STING FROM THE SEVERE WEATHER THAT HIT THE HIGH PLAINS. CROP  REPORTERS IN THE EASTERN COUNTIES SAY THEY'RE SCOUTING WHEAT FIELDS  FOR FREEZE DAMAGE. AND THERE ARE SOME LIVESTOCK LOSSES TOO. COTTON PLANTING IS GETTING A BIT BEHIND IN ALABAMA. THE CROP PROGRESS  REPORT SHOWS ELEVEN PERCENT PLANTED IN THE STATE. IT'S USUALLY AT 18- PERCENT BY NOW. THE STATE HAD SHOWERS LAST WEEK WHICH HELPED IMPROVE THE MOISTURE  PORTFOLIO...AND NOW SOME HOMETOWN TEMPS. THE LOCAL WEATHER CAN HAVE A BIG IMPACT NOT ONLY ON YOUR DAY, BUT  ALSO ON YOUR CROPS. START YOUR DAY OFF RIGHT WITH YOUR LOCAL  FORECAST DELIVERED RIGHT TO YOUR MOBILE PHONE, JUST TEXT WEATHER TO  31313 TO GET STARTED!

TEASE
WHEN WE COME BACK, WE'LL LOOK AT BASIS CONTRACTS AND SOME TIPS FOR  GETTING THE MOST OUT OF THEM. AND LATER, WE'LL MEET A NORTH DAKOTA BARBER CUTTING A PATH TOWARD  RETIREMENT.  AGDAY IS POWERED BY RAM TRUCKS - AMERICA'S LONGEST LASTING PICKUPS.

FLOOR OF THE CME
IN AGRIBUSINESS WHEAT PULLS BACK BUT LIVESTOCK STAYS IN THE GREEN. DETAILS FROM THE FLOOR OF THE CME.  CATTLE MKTS TRADING SHARPLY HIGHER TO LIMIT UP. ANOTHER DAY OF REACTION TO STRONG CASH PRICES BEING PAID. ONCE AGAIN IDEAS ARE THERE THAT WE'LL SEE 138 OR EVEN HIGHER PAID IN THE LIVE CATTLE AUCTION MARKETS...STARTED GETTING UNDERWAY WEDNESDAY. BUT WE'LL SEE BETTER VOLUMES PROBABLY ON THURSDAY AND FRIDAY. PLUS A LOT OF THE SNOW THAT WAS SCENE IN THE GREAT PLAINS AND THE COLD WEATHER HAS PRODUCED A CERTAIN AMOUNT OF CATTLE KILL. I'M JACK SCOVILLE, VICE PRESIDENT OF PRICE FUTURES GROUP HERE ON THE CME GROUP WITH SOME COMMENTS FOR THE MARKETS.

AGRIBUSINESS
BRYAN SPLITT NOW ON OUR GUEST HERE AT THE AGRIBUSINESS DESK TODAY BRIAN LET 'S TALK ABOUT  BASIS CONTRACTS CAUSE I THINK THAT 'S A SYSTEM THAT A LOT OF FOLKS USE. BUT YOU SAY THERE 'S  SOME THINGS THAT YOU CAN INDEED BE MINDFUL OF AS YOU USE THOSE RIGHT SO TYPICALLY THE MARKET  IS NOT GOING TO GIVE YOU STRONG FUTURES AND STRONG BASIS OF THE SAME TIME. SO IT 'S UP TO TRY AN  ARBITRAGE THAT. BUT ONE THING I'VE NOTICED THIS YEAR AND A LOT OF OTHER LARGER CROP YEARS WHERE  THERE 'S ADEQUATE SUPPLIES IS THAT IF YOU STICK AROUND A WAY TO THE LAST MINUTE SURPRISE THAT  BASIS CONTRACT AND THIS IS GOING TO BE GOING INTO THE OPTION EXPIRATION TIME FRAME WE'VE  WITNESSED IN IN THE SEPTEMBER OPTIONS EXPIRE. THAT 'S WHEN WE MADE OUR FALL LOWS ME SOLACE  FROM THE DECEMBER OPTIONS EXPIRY SIDE A GOOD PULL BACK. WE JUST SAW IN THE MAY OPTION  EXPIRATION WHERE IN AN OPTION EXPIRATION ALL THESE BASIS CONTRACTS HAVEN'T BEEN PRICED YET  NEED TO BE PRICED AT A LOT OF NATURAL SELLERS THAT HAVE COME IN IN THE MARKET DO THAT. AND SO WE'RE WITNESSING TEN FIFTEEN CENTS SET BACK. SO IF YOU'RE WITHIN A WEEK OR TWO OF OPTION  EXPIRATION AND HAVE IT 'S A BASIS CONTRACT IS. DON'T WAIT. A LAST MINUTE GO AHEAD START WORKING  AHEAD IN COMING GET OUT IN FRONT OF THIS THING RIGHT HOW IS BASIS OVER ALL THIS TIME OF YEAR IS  COMPARED TO LATER IN THE RIGHT WELL THERE 'S GONNA BE DIFFERENT POCKETS OF BASES OPPORTUNITY IN  GENERAL WHEN YOU SEE THE FUTURES MARKET REALLY DEPRESSED AND EVERYBODY 'S TALKING ABOUT  HOW LOW THINGS CAN GO. THAT 'S PROBABLY THE TIME TO CALL AND SET BASIS ON SOME STUFF OK. OK.  AS YOU PREPARE FOR THE REST TWENTY SEVENTEEN IN THE OTHER DIRECTION FOR FOLKS IS THEY CAN GET  READY TO PUT A STRATEGY IN PLACE. IS CROPS GOING IN YOU KNOW JUST SOME OTHER LITTLE TIDBITS. THINK  ABOUT MAYBE. SOME THINGS YOU WOULDN'T NORMALLY. THE SOYBEAN MARKET IN A BEAR MARKET RIGHT  NOW. THE TRADE IS BANKING ON A VERY LARGE CROP. WE'VE GOT A VERY LARGE SOUTH AMERICAN CROP  THAT'S GOING TO BE HITTING THE PIPELINE AND SO WHAT 'S HAPPENING IS IN THE NEW CROP MARKET.  THERE IS A GOOD AMOUNT OF CARRY THAT 'S ALREADY THERE. SO IF YOU HAVE LETS SAY FROM NOVEMBER  SEVENTEEN TO MAY OF EIGHTEEN MAY BE FIFTEEN CENTS OF CARRIE THAT 'S ABOUT THEM ON A CARRIER.  WE HAD SPRING OF LAST YEAR NOW LAST YEAR 'S MAY BE AN EXTREME EXAMPLE. WE HAD A THREE  DOLLAR RALLY BUT WHAT HAPPENED IS THAT SPREAD BETWEEN NOVEMBER AND MAY FUTURES WENT FROM  FIFTEEN CENTS OF CARRIE TO SEVENTY FIVE CENTS OF IN VERSE. NO RIGHT. SO IT MIGHT BE ADVANTAGEOUS  IF YOU HAVE FUTURES HEDGE IS TO ROLL THEM OUT PRIOR TO THE GROWING SEASON TO A BACK MONTH  THAT WAY IF THERE IS A STRONG RALLY IN THE SPREADS IN VERT AND I CAN BE FEELING THAT WHOLE MOVE DON'T WAIT TO CAPTURE SOME OF THAT WHILE YOU CAN GOOD ADVICE. APPRECIATE IT BRIAN THANKS FOR  BEING HERE WE'LL BE BACK MORE AGDAY IN JUST A MINUTE  GET THE ROOTS YOUR CROPS NEED, BY GETTING RADIATE FIRST.  VISIT LOVELAND PRODUCTS.COM  SLASH RADIATE.  SEE YOUR CPS DEALER TODAY. 

WEATHER
WELCOME BACK TO AGDAY WITH METEOROLOGIST MIKE HOFFMAN MIKE AS WE LOOK AT THIS STORM  WORKING THROUGH THE MIDDLE OF THE COUNTRY ONCE AGAIN IT IS BRINGING MORE RAIN IS IN  IT 'S REALLY  UNFORTUNATE BECAUSE SOME OF THE AREAS THAT GOT A TEN TO TWELVE INCHES OF RAIN GOING TO GET A  FEW MORE THE WAY IT LOOKS AND YOU'RE ALREADY GETTING IT THIS MORNING AS YOU CAN SEE THE RAIN  SHIELD FROM A MUCH A MISERY EXCEPT THE NORTHWESTERN SECTIONS IN THE NORTHERN ARKANSAS ALL  THE WAY ACROSS ILLINOIS INDIANA INTO WESTERN OHIO IN EXTREME SOUTHERN MICHIGAN SOUTH OF  THERE WILL BE SHOWERS AND THUNDERSTORMS TODAY SO THIS IS THE BIG FOCUS FOR THE MAP OVER THE  NEXT FORTY EIGHT HOURS YOU CAN SEE BY LATER TODAY WIDESPREAD RAINS FROM THE LOWER GREAT  LAKES ALL THE WAY BACK IN THE PARTS OF MISSOURI AND ARKANSAS ALL THE THUNDERSTORMS COULD BE  SOME HEAVY OR SEVERE WINDS IN THE WARM SECTOR IN THE SOUTHEASTERN PORTIONS OF THE COUNTRY BUT WEST OF THERE JUST NOT A LOT GOING ON BIG RIDGE HAS DEVELOPED OUT WEST AND THAT 'S COME A  SHUNTING ALL OF THE STORM SYSTEMS OFTEN IN NORTHERN CANADA AS THEY TRY TO COME INTO THE WEST  COAST HEADING THROUGH TONIGHT MORE RAIN OBVIOUSLY THAT IS VERY SLOW MOVING STORM SYSTEM IS  YOU'LL SEE ON THE JET STREAM COMING UP IT 'S IT 'S A CUTOFF LOW IT KNOWS ARE ALWAYS SLOW MOVERS AND YOU CAN SEE WIDESPREAD RAINS AND NOW MOVING INTO OTHER NORTHERN NORTHEASTERN  PORTIONS OF THE COUNTRY HEAVY THUNDERSTORMS DOWN INTO THE MID ATLANTIC MAINLY DRY AND COOL WEST OF THE AREA AND YOU CAN SEE AS WE HEAD INTO TOMORROW AFTERNOON THUNDERSTORMS  MAINLY OFFSHORE AHEAD OF THE COLD FROM THE STILL WIDESPREAD RAINS IN THE TENNESSEE OHIO  VALLEY INTO THE NORTHEAST THAT ARE GONNA BE SOME SHOWERS COMING WITH THAT NEXT SYSTEM AS A  CUTOFF LOW TRIES TO COME INTO THE WEST AS WELL CHECKING OUR PRECIPITATION ESTIMATES OVER THE  PAST TWENTY FOUR HOURS WE HAVE HAD SOME HUGE AMOUNTS OF RAIN IN PARTS OF SOUTHERN  LOUISIANA AND SOUTHERN MISSISSIPPI AND ALSO WOULD NOT AS HUGE BUT STILL VERY HEAVY RAIN FOR  PARTS OF ARKANSAS MISSOURI AND ILLINOIS AND INDIANA AND THE NEXT THIRTY SIX HOURS THAT JUST  CONTINUES TO SPREAD TOWARD THE NORTHEAST AEGEAN SEA AND SOME OF THE HEAVIER  THUNDERSTORMS MAY PUT DOWN TWO OR THREE INCHES INTO THE CAROLINAS AND VIRGINIA AS WE HAVE  THROUGHOUT THE AFTERNOON HOURS AND SNOWFALL ESTIMATES ALL NORTH OF THE LOWER FORTY EIGHT AT  THIS POINT PART OF OUR EASTERN CANADA GOING TO SEE SOME OF THE WHITE STUFF AND CHECKING OUT  TEMPERATURES HIGHS THIS AFTERNOON WHERE IT IS RAINING ONLY IN THE FORTIES TO LOW FIFTY 'S STILL  PRETTY WARM KNOW IN THE SOUTHEAST LOW TEN TOURISTS ALIKE IN A DROP OFF IN THE UPPER THIRTIES PART  OF THE NORTHERN GREAT LAKES OTHERWISE WIDESPREAD FORTIES ACROSS THE CORN BELT WILL ONLY WARM  AIR IS IN THE FAR SOUTHEAST IN THE FAR SOUTHWEST ICE TOMORROW AFTERNOON START TO WARM UP THEN  WHERE THE SUN SHINES OUT ACROSS A WESTERN PLANES WAS STILL PRETTY CHILLY MUCH OF THE  MISSISSIPPI VALLEY EASTWARD TAKING A LOOK AT THE JET STREAM AS A CUTOFF LOW YOU SEE THAT SLOW  MOVING SYSTEM BIG RIDGE TO THE WESTRIDGE WARM AND DRY THEN OF THE SOUTHWEST AND THAT  STARTS THE BOWLING BALL INTO THE MILL THE COUNTRY NEXT WEEK VERY STRANGE PATTERN FOR THIS TIME OF  THE YEAR THAT 'S A LOOK CROSS COUNTRY NOW LET 'S TAKE A LOOK AT SOME LOCAL FORECASTS WHETHER GILLETTE WYOMING FIRST OF ALL MOSTLY SUNNY BECOMING WARMER TODAY HIGH OF THE SEVENTY ONE  DEGREES CAIRO ILLINOIS CLOUDY WITH RAIN AND MORE FLOODING LIKELY HIGH OF FIFTY NINE HARRISBURG  PENNSYLVANIA BECOMING CLOUDY WEIGHING POSSIBLE LATE HIGH OF SIXTY FOUR.

TEASE
WHEN WE COME BACK, WE'LL LOOK AT CATTLE MARKETS AND FEEDER MARGINS. AND LATER, THIS NORTH DAKOTA BARBER HAS BEEN CUTTING IT CLOSE FOR 50  YEARS. HIS SECRET TO SUCCESS LATER ON AGDAY. VISIT FARM JOURNAL PRO.COM.  TRUSTED ANALYSIS, PROFESSIONAL INSIGHT. FARM JOURNAL  PRO.COM.

DROVERS TV
ON DROVER'S TV, LAST WEEK'S $5 RALLY IN CASH FED CATTLE HELPED BOOST  FEEDYARD PROFITS TO NEARLY $500 PER HEAD. NOW BULLISH NEWS IS CONTINUING THIS WEEK.  JUNE LIVE CATTLE FUTURES PRICES ARE $18 TO $20 HIGHER THAN A MONTH AGO  AS TRADERS RECOGNIZE FEEDLOT INVENTORIES ARE EXTREMELY CURRENT. "THAT FACT WAS COMPOUNDED OVER THE WEEKEND WITH A BLIZZARD THAT BLANKETED MUCH OF THE  NATION'S LARGEST CATTLE FEEDING AREA WITH 15 TO 18 INCHES OF SNOW. DEATH LOSSES THROUGHOUT  THE REGION WILL TOTAL IN THE THOUSANDS, BUT THE BIGGER IMPACT WILL BE SEEN IN LOST PERFORMANCE  AND LIGHTER FINISH WEIGHTS WHEN CATTLE ARE MARKETED. EVEN BEFORE THE STORM, CARCASS WEIGHTS  WERE RUNNING 35 POUNDS LIGHTER THAN A YEAR AGO." HENDERSON SAYS BEEF PACKERS ARE STRUGGLING TO MAINTAIN THEIR  SLAUGHTER SCHEDULES WITH THE REDUCED SUPPLY OF CATTLE, BUT THEY  REMAIN IN A FAVORABLE POSITION EARNING ROUGHLY $40 FOR EVERY ANIMAL  PROCESSED.  WITH MEMORIAL DAY COMING AND RETAILERS BUYING HE SAYS PACKERS HAVE  INCENTIVE TO BID UP CASH PRICES. SPEAKING OF DEMAND, IOWA GOVERNOR TERRY BRANSTAD FIELDING  QUESTIONS FROM WYOMING SENATOR JOHN BARRASSO DURING HIS  CONFIRMATION HEARING TO BE AMBASSADOR TO CHINA. BARRASSO ASKING ABOUT U.S. BEEF GAINING EXPORT ACCESS TO CHINA. IT'S VITAL THAT WE WORK TOWARD TO INSURE THE U.S. BEEF IS TRADED FAIRLY AND TRADE BARRIERS ARE ELIMINATED THERE AS WELL I AGREE  WHOLEHEARTEDLY I WANT TO BE ABLE TO SERVE BEEF AMERICAN BEEF  SPECIFICALLY IOWA PREMIUM BEEF AT THE EMBASSY AND AT THE AMBASSADOR'S  RESIDENCE I DON'T THINK IT'S FAIR THAT RIGHT NOW WE HAVE TO SERVE  AUSTRIAN BEEF OR ARGENTINIAN BEEF AND THIS ISSUE GOES BACK TO MAD  COW DISEASE 13 YEARS AGO AND AS YOU SAID THEY'VE ANNOUNCED THEY'RE  GOING TO DO IT BUT IT'S STILL NOT BEEN DONE HE SAYS ITS AN ISSUE HE'S PASSIONATE ABOUT AND SAYS WE NEED THE SAME  ACCESS IN CHINA THAT WE HAVE IN JAPAN.

TEASE
UP NEXT GET A CLOSE SHAVE FROM AN EXPERIENCED STEADY HAND IN NORTH DAKOTA. THAT STORY NEXT.

IN THE COUNTRY
IN THE COUNTRY - SPONSORED BY KUBOTA.  DISCOVER THE POWER BEHIND THE M6 SERIES AT  KUBOTA.COM.AMERICANS CHANGE JOBS ON AVERAGE EVERY FOUR YEARS.  THESE DAYS IT'S  RARE FOR EMPLOYEES TO WORK IN THE SAME INDUSTRY FOR AN ENTIRE  CAREER. THERE ARE EXCEPTIONS, OF COURSE, LIKE A BLUE COLLAR BARBER  FROM BISMARCK, NORTH DAKOTA, WHO'S KEPT CUSTOMERS CLEAN-CUT FOR  MORE THAN FIFTY YEARS. CLIFF NAYLOR FROM AGDAY AFFILIATE KFYR HAS OUR  STORY IN THE COUNTRY. THE MUG AND BRUSH BARBER SHOP OPENS FOR BUSINESS AT 6:30AM.  RAY SCHOCK GETS  CUSTOMERS LIKE COREY DACHTLER IN AND OUT OF THE CHAIR BEFORE MOST PEOPLE GET OUT OF BED.  RAY SCHOCK:  I HAVE TO FINE TUNE THIS HEAD OF HAIR.... RAY CLIPPED HIS FIRST LOCK OF HAIR IN 1960.  HE CAN STILL REMEMBER HIS FIRST CUSTOMER.  HE JUST LOOKED UP AT ME WITH HIS BIG BLUE EYES AND  I DON'T KNOW WHO WAS MORE SCARED, HIM OR ME, BUT I DID MAKE IT THROUGH IT. BACK WHEN RAY  BEGAN HIS CAREER, HAIR CUTS WERE A BUCK AND A QUARTER APIECE.  IT WASN'T THE MONEY THAT KEPT  HIM IN THE BUSINESS FOR OVER HALF A CENTURY.  RAY SCHOCK:  I JUST LOVE THE PEOPLE, I JUST LOVE  THE PEOPLE.  SOME FAMILIES HAVE HAD THREE GENERATIONS OF CUSTOMER SIT IN RAY'S CHAIR. RAY  SAYS IF HE MAKES PEOPLE HAPPY, THEY KEEP COMING BACK.  HE'S PUT A SMILE ON THE FACES OF  THOUSANDS OF PEOPLE THE PAST 57-YEARS.  RAY NICOLA:  I HAVE NEVER GOTTEN A BAD HAIRCUT FROM  RAY, EVER.  RAY NICOLA HAS BEEN A LOYAL CUSTOMER FOR FORTY YEARS.  HE SAYS HIS LAST HAIR CUT  WAS AN EMOTIONAL ONE. RAY NICOLA:  WE GOTT'A LET THE GUY GO, HE'S GOT TO HAVE SOME TIME TO  ENJOY FOR HIMSELF.  I WANT TO TRAVEL.  I HAVE A LOT OF GOLF BALLS I HAVEN'T TAKEN OUT OF THE BOX. ALL GOOD THINGS MUST  COME TO AN END, AND SO DO RAY'S HAIR CUTS. LOOKING GOOD, THE HAIR AT LEAST...... WHEN RAY STARTED CUTTING HAIR THERE WERE 900 BARBERS IN  NORTH DAKOTA, NOW THERE ARE 200, MINUS ONE. I'M CLIFF NAYLOR REPORTING FOR AGDAY .ENJOY RETIREMENT, RAY. YOU EARNED IT.

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR MIKE HOFFMAN, TYNE MORGAN AND ALL OF US HERE AT AGDAY. I'M CLINTON  GRIFFITHS. MAY THE 4TH BE WITH YOU.. . AGDAY IS POWERED BY RAM TRUCKS - AMERICA'S LONGEST LASTING PICKUPS.  

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