AgDay Daily Recap- November 1, 2016

August 15, 2016 02:57 AM
 
AgDay

TODAY ON AGDAY
NOVEMBER 1, 2016

HEADLINES
COMING UP TODAY ON AGDAY - A HARVEST UPDATE AND PLANTING PROGRESS IN  SOUTH AMERICA. IN AGRIBUSINESS...MANAGING 2016 COULD GLOBAL DAIRY PRICES SEE A LIFT SOON? AND A POWERFUL EARTHQUAKE SHAKES A CENTRIES OLD MONASTARY TO RUBBLE. AGDAY-BROUGHT TO YOU BY  THE DEPENDABLE, LONG LASTING CHEVY SILVERADO.

AG INDUSTRY FINANCIAL HEALTH
GOOD MORNING I'M CLINTON GRIFFITHS. AS NOVEMBER KICKS OFF, THE AG  INDUSTRY IS KEEPING A CLOSE EYE ON THE FINANCIAL HEALTH OF THE ENTIRE  AG SECTOR. THE KANSAS CITY FED, SAYS FARM LENDING AT COMMERCIALS BANKS FELL IN  THE THIRD QUARTER BUT IS STILL HIGH. THE VOLUME OF FARM LOANS STARTING IN Q3 FELL 19 PERCENT FROM A YEAR AGO BUT REMAIN ELEVATED BY HISTORICAL STANDARDS. OPERATING LOANS CONTINUE TO MAKE UP A LARGE NUMBER OF REQUESTS-- COUNTING FOR 60 PERCENT OF ALL LOANS IN 2016. BANKS ALSO INCREASING THEIR USE OF FARM REAL ESTATE AS COLLATERAL FOR  THESE LOANS. A THIRD OF ALL OPERATING LOANS ARE NOW BEING BACK BY THE FARM. A HARVEST RALLY IS HELPING THE FINANCIAL PICTURE FOR MANY OPERATIONS  AS THEY RACE TO PULL CROPS OUT OF THE FIELD. THE LATEST CROP PROGRESS REPORT SHOWING CORN HARVEST IS NOW... 75- PERCENT COMPLETE. THAT MATCHES THE FIVE YEAR AVERAGE.MOST STATES ARE CLOSE TO THE AVERAGE PACE, HOWEVER NORTH DAKOTA IS  15 POINTS BEHIND. SOUTH DAKOTA IS 11 POINTS BEHIND. SOYBEAN HARVESTED REACHED 87-PERCENT - TWO POINTS AHEAD OF AVERAGE. IOWA IS A BIT BEHIND IN BOTH SOYBEANS AND CORN HARVEST. BUT OTHERWISE  NO MAJOR DELAYS. WINTER WHEAT PLANTING HIT 86-PERCENT, TWO POINTS BEHIND AVERAGE. SLIGHT DELAYS IN KANSAS, OKLAHOMA AND TEXAS. WHILE OUR CROPS ARE COMING OUT, STRONG DEMAND IS HELPING PUSH  PRICES EVEN DURING HARVEST.

SOYBEAN OUTLOOK
SOYBEAN ASSOCIATION OFFICIALS SAY OIL DEMAND AND CHINA'S GROWING  LIVESTOCK SECTOR ARE HELPING DRIVE MARKETS. BUT SO IS THE TIME OF YEAR....WHEN SOUTH AMERICA IS FOCUSED ON PLANTING  AND OUR CROPS ARE READY TO SHIP. WITH THE U-S HARVEST ENTERING THE LATER STAGES, THE GRAIN MARKET WILL  SOON FOCUS ON WHAT'S HAPPENING IN SOUTH AMERICA. USDA IS REVEALING  IT'S SOUTH AMERICAN FORECAST JUST IN TIME FOR PLANTING. SO HOW IS  PLANTING GOING SOUTH OF THE EQUATOR? BETSY JIBBEN TAKES A LOOK. USDA DEPUTY CHIEF METEROLOGIST MARK BRUSBERG SAYS LA NINA IS FACTORED INTO  HIS SOUTH AMERICAN FORECAST.HE SAYS THE AREA DOESN'T HAVE TO EXPERIENCE A STRONG LA NINA OF IT TO  IMPACT WEATHER, ESPECIALLY IN ARGENTINA.  LA NINA HAS A HISTORY OF CREATING PROBLEMS FOR ARGENTINA. THAT'S WHY  USDA DEPUTY CHIEF METEROLOGIST MARK BRUSBERG IS WATCHING CLOSELY.  "WHAT WE SEE IN ARGENTINA IS THE POTENTIAL FOR DROUGHT. IN RECENT LA NINA YEARS, WE'VE SEEN  GOOD STARTS TO THE RAINY SEASON BUT THEN COME DECEMBER, JANUARY, WE START TO SEE A  DETERORIATION OF CONDITIONS, NOT ONLY DRYNESS BUT HEAT. SOME OF THAT HEAT COMES AROUND  CHRISTMAS TIME,"BRUSBERG SAYS BRAZIL IS A DIFFERENT SITUATION. THAT AREA DOESN'T  USUALLY EXPERIENCE A LARGE ENOUGH IMPACT FROM LA NINA.  "SOME YEARS DURING LA NINA, THEY CAN HAVE A RECORD YIELD. A LOT OF TIMES THEY WILL SPLIT  BETWEEN THE SOUTHERN PART OF THE COUNTRY WHICH IS A MID-LATITUDE CLIMATE. BUT THE NORTHERN  PART OF THE COUNTRY WHERE THEY'RE EXPANDING AG IS MORE FO A TROPICAL CLIMATE. AND THEY DON'T  TEND TO HAVE DROUGHTS THERE AS OFTEN,"HISTORICALLY, LA NINA BRINGS WARMER AND DRIER CONDITIONS TO ARGENTINA  AND SOUTHERN BRAZIL. BUT NORTHERN BRAZIL CAN BE THE OPPOSITE WITH WECONDITIONS UP  THROUGH THE CARIBBEAN.

BIO DIESEL TAX INCENTIVE
SPEAKING OF BEANS,  THE NATIONAL BIO-DIESEL BOARD IS PUSHING CONGRESS ABOUT EXTENDING A  BIO DIESEL TAX INCENTIVE BEFORE EXPIRING AT THE END OF THE YEAR.  THE N-B-B TELLING LAWMAKERS IN A LETTER FAILURE TO CONTINUE THE TAX  CREDIT LEADS TO 'CUTTING JOBS AND PRODUCTION.'  NBB SAYS THE BIODIESEL INDUSTRY SUPPORTS NEARLY 48,000 JOBS AND $1.9  BILLION IN WAGES ACROSS THE COUNTRY.

MYSTERIOUS ANIMAL DEATHS IN NORTH DAKOTA
MORE FARM ANIMALS HAVE BEEN MYSTERIOUSLY KILLED OR MISSING IN SOUTH  CENTRAL NORTH DAKOTA. ACCORDING TO THE NORTH DAKOTA STOCKMEN'S ASSOCIATION, FOUR BISON  WERE BUTCHERED IN A PASTURE AND TWO COWS IN ANOTHER PASTURE WERE  KILLED AND BURNED. VER THE PAST FIVE WEEKS - MORE THAN A DOZEN ANIMALS HAVE BEEN  REPORTED KILLED OR INJURED AND NEARLY THREE DOZEN HAVE BEEN  REPORTED MISSING.THE INCIDENTS ARE NEAR THE DAKOTA ACCESS OIL PIPELINE PROTESTING SITE  BUT THE STOCKMEN'S SAY THERE ISN'T ANY EVIDENCE OF A CONNECTION.  THE RANCHER GROUP IS OFFERING A 14-THOUSAND DOLLAR REWARD FOR  INFORMATION ON THE CASES.  

CROP COMMENTS
CROP COMMENTS IS POWERED BY RESICORE HERBICIDE FOR CORN, FROM DOW AGROSCIENCES. NOW MIKE HOFFMAN HAS A LOOK AT THIS MORNING'S CROP COMMENTS. MIKE.  GOOD MORNING CLINTON. LET'S START OFF NEAR MULESHOE, TEXAS.  7-YEAR-OLD JOHN FLOECK IS SHOWING US HIS LOAD OF PUMPKINS AND GOURDS  HE PICKED UP IN THE AREA.  EVEN THOUGH THIS WAS SNAPPED IN TEXAS, USDA SAYS THE TOP PUMPKIN  PRODUCING STATES INCLUDE ILLINOIS, CALIFORNIA, OHIO, PENNSYLVANIA,  MICHIGAN AND NEW YORK. OVER IN DENNISON, MINNESOTA,  MATT BRAUN SENT US PHOTOS OF HIS DAD'S TURF FARM. HE SAYS IT'S BEEN A  BUSY FALL WITH SOD HARVESTING OF BOTH BIG ROLL AND SMALL PALLETIZED  SOD. AND NOW HERE ARE SOME HOMETOWN TEMPS. 

TEASE
WHEN WE COME BACK WE'LL LOOK AT MANAGMENET STRATEGIES FOR FARMERS  THIS HARVEST SEASON. PLUS, A GLOBAL DAIRY AUCTION SET FOR THIS WEEK IS EXPECTING HIGHER  PRICES. PLUS THE WEEKEND EARTHQUAKE DEVASTATES A REGION OF ITALY...INCLUDING  AN AREA KNOWN FOR ITS MONASTIC BREW. DETAILS LATER ON IN THE COUNTRY.

FLOOR OF THE CME
AGRIBUSINESS TODAY, BROUGHT TO YOU BY YAMAHA - MAKERS OF VIKING SIDE- BY-SIDES.  YAMAHA - REAL WORLD TOUGH. IN AGRIBUSINESS JUST HOW DID MARKETS START THE WEEK. WE HEAD TO THE FLOOR OF THE CME IN CHICAGO FOR DETAILS. GRAIN MARKETS GENERALLY TRADING HIGHER THROUGHOUT THE COURSE OF  THE DAY TODAY AFTER TRADING SOMEWHAT LOWER IN THE OVERNIGHT MARKETS. THE SUPPORT CAME FROM NEWS FROM USDA,  THEY'RE VERY VERY STRONG EXPORT INSPECTIONS ESPECIALLY FOR SOYBEANS  WELL OVER TWO MILLION TONS IN FACT OVER TWO POINT FIVE MILLION TONS  AND ABOVE ANY GREAT EXPECTATIONS ALSO THE WINTER WHEAT PLANTING  PROGRESS HAS STALLED OUT JUST A LITTLE BIT IN SOME AREAS DUE TO SOME  VERY DRY WEATHER IN THE SOUTHWESTERN PARTS OF THE GREAT PLAINS. THE MARKET ACTING VERY POSITIVE TODAY AND IMPLIES THAT WE'RE GOING TO HAVE  A VERY STRONG WEEK. DEMAND LED WEEK. AND ALTHOUGH THERE COULD BE  SOME SELLING DEVELOP OFF AND ON AS PRODUCERS TAKE ADVANTAGE OF THE  RALLY TO DO SOME PRICING, MOST PRODUCERS SEEM CONTENT TO LET THE  PRICES DO WHAT THEY WANT AND GET THE HARVEST FINISHED FIRST BEFORE  THEY REALLY CONSIDER THE CASH MARKET.  A MIXED BAG THROUGHOUT THE  THROUGHOUT THE MEAT COMPLEX HERE TODAY WITH THE WITH THE FEEDER  CATTLE AND HOGS TRADING A LITTLE BIT HIGHER BUT THE LIVE CATTLE TRADING  A LITTLE BIT LOWER.  THE CATTLE ON FEED REPORT FROM A COUPLE WEEKS AGO  STILL RESONATING WITH THE MARKET SHOWING LOWER SUPPLIES ARE COMING  AND EVEN THOUGH THE BEEF SUPPLIES ARE CURRENTLY VERY VERY AMPLE AND  A LOT OF CATTLE ARE GETTING SLAUGHTERED, THE MARKET SEEMS TO BE  HANDLING IT ALL VERY WELL. AND THAT IMPLIES THAT ONCE THE SUPPLIES ARE  GOING A LITTLE LOWER WE START SEEING SOME HIGHER HIGHER PRICES.  THANKS VERY MUCH THIS IS JACK SCOVILLE, I'M VICE PRESIDENT OF PRICE  FUTURES GROUP, HERE ON THE CME GROUP FLOOR WITH SOME COMMENTS FOR  THE MARKET.

AGRIBUSINESS
MATT BENNETT. BENNETT CONSULTING, OUR GUESS HERE AT THE AGRIBUSINESS  DESK TODAY. MATT LET'S TALK ABOUT THIS CASH SALES VERSUS STORAGE... AND  WHAT FOLKS ARE DOING WITH THEIR CROP RIGHT NOW DURING HARVEST YOU  KNOW WE'RE OVER HALF WAY DONE FOR BOTH CORN AND BEANS. A LOT OF  PRODUCERS THIS YEAR WERE LOOKING THAT I'M GOING TO FILL ALL MY BINS AT  HOME. AND THEN, I DON'T, A LOT OF GUYS ARE SAYING THEY DON'T WANT TO PAY  A LOT FOR COMMERCIAL STOREAGE SO SOME BUSHELS GOT SOLD ACROSS THE  SCALE AND THEN RE OWNED. AND THEN YOU GET A BIG FIFTY, SIXTY CENT RALLY  IN SOYBEANS, YA KNOW AND RALLY OFF LOWS TWENTY, TWENTY FIVE CENTS FOR  CORN, AND FOLKS THERE SITTING AROUND SAYING WHEN DO I TAKE PROFIT ON  THESS POSITIONS OR FOR THE STUFF THAT'S IN THE BIN WHEN DO I GO AHEAD  AND DO SOMETHING. AND SO I'VE TOLD GUYS THAT'S GOT A LOT OF CORN IN THE  BIN WE'VE STILL GOT CARRY IN THE MARKET. IF THIS MARKET HAS RALLIED  ENOUGH FOR YOU, LET'S LOOK AND MAYBE GO ON AHEAD AND SELL JULY CORN.  AND THEN WHENEVER THE BASIS RALLIES FROM HERE ON FORWARD, WHICH WE  THINK THAT IT WILL AT TIMES, THEY'LL PUT THAT MONEY IN POCKET.  YEA, SO  THERE ARE SOME KIND OF MANAGEMENT DECISIONS TO BE MAKING THIS YEAR  THIS TIME OF YEAR WHICH IT'S NOT JUST PUT IT IN THERE TO SHUT THE DOOR  ABSOLUTELY A LOT OF FOLKS THAT WERE RE-OWNING WERE THINKING, OR RE- OWNING FOR LATER ON IN THE GAME, YOU KNOW BUY IN MAY OR JULY CALLS OR  CALLS SPREADS, THEY DIDN'T REALIZE THEY WERE GOING TO HAVE AN  OPPORTUNITY FOUR WEEKS LATER, THREE WEEKS LATER, TO PROFIT OFF OF  THOSE SO THE THING IS WHEN YOU GET A RALLY LIKE THAT, SOMETIMES YOU  GOT TO THINK OR MAYBE IT CAME QUICKER THAN WHAT I THOUGHT IT DID. IF MY  INITIAL GOAL WAS MAYBE TO MAKE ANOTHER TWENTY CENTS OR THIRTY CENTS  ON WHAT I WAS GONNA MAKE, JUST SIMPLY SELLING THAT, MAYBE I NEED TO GO  AHEAD TAKE THAT NOW INSTEAD OF WAITING ON MORE. WHAT ARE FOLKS  TELLING YOU AS FAR AS THE FARM MANAGEMENT ASPECT OF THINGS IN DEALING  WITH OPERATING LOANS AND GETTING PREPARED FOR NEXT YEAR. WHERE DO  WE SIT THINGS ARE PRETTY TIGHT STILL. THIS BIG BEAN CROP IS REALLY GOING  TO HELP A LOT OF FOLKS OUT, BUT WHEN YOU LOOK AT CORN PROFITABILITY, IT  JUST EVEN A REALLY BIG YIELDS IT JUST WASN'T THERE UNLESS A GUY DID A  REALLY GOOD JOB OF HEDGING EARLIER THIS SUMMER ABOUT FOUR DOLLARS  AND SO I THINK THINGS ARE PRETTY TIGHT. WE'VE BEEN TELLING PRODUCERS  MAKE SURE YOU KEEP AN OPEN LINE OF COMMUNICATION. LET'S LET'S MAKE  SURE ALL THE ALL THE CARDS ARE SHOWING AT THIS POINT BECAUSE BANKERS  ARE CERTAINLY INTERESTED IN KNOWING EXACTLY WHAT THE SITUATION IS  BECAUSE THEY REALIZE AS MUCH AS ANYONE ELSE DOES THAT THINGS ARE  TIGHTER THAN WHAT THEY WERE FOR SEVERAL YEARS. BUT MAYBE SOME  OPPORTUNITY HERE, KIND OF A CHANCE TO MAKE A MOVE HERE AND IN SET  YOURSELF UP FOR NEXT YEAR. AND A LITTLE BETTER SITUATION THAN WHAT WE  THOUGHT IT WAS GONNA BE. THAT'S RIGHT APPRECIATE YOU. WE'LL BE BACK  WITH MORE AGDAY IN JUST A MINUTE. FOR ADVICE ON THE BEST WAY TO BE PROFITABLE ON YOUR FARM, CONTACT  MATT AT 217-273-1133.

WEATHER
WELCOME BACK TO AGDAY HERE WITH METEOROLOGIST MIKE HOFFMAN. MIKE  AS WE LOOK IN THE MIDDLE OF THE COUNTRY IT'S A PRETTY NICE WEATHER THE  LAST COUPLE DAYS BUT RAINS ON THE WAY RIGHT YEA. FOR SOME AREAS  ANYWAY ESPECIALLY NEAR THAT LOW PRESSURE IN KANSAS RIGHT NOW AS THAT  MOVES EASTWARD. YOU CAN ALSO SEE THE MOISTURE COMING INTO THE  PACIFIC NORTHWEST EVEN NORTHERN CALIFORNIA AND THE NORTHERN  PORTIONS OF THE ROCKIES GETTING A LITTLE BIT ABOUT RAIN AND SNOW  SHOWER ACTIVITY. SO LET'S PUT THE MAPS INTO MOTION YOU CAN SEE A  COUPLE OF GOOD SNOWS FOR PARTS OF CANADA BUT MOST OF THAT IS GOING  TO STAY NORTH OF THE CANADIAN BORDER THERE. YOU CAN SEE THE COLD  FRONT DIPS INTO THE LOWER GREAT LAKES AREA OF LOW PRESSURE GOING TO  BE INCREASING NOT PRODUCE MUCH MOISTURE IN KANSAS WHERE IT IS RIGHT NOW BUT IT WILL AS ITS RIDE ALONG THAT FRONT. ALSO ANOTHER DECENT STORM SYSTEM OUT OVER THE PACIFIC WILL BE APPROACHING AS WE HEAD  INTO THE MIDDLE OF THE WEEK FOR THE A WEST COAST ONCE AGAIN HIGH  PRESSURE KEEPING THINGS VERY DRY IN THE SOUTHEAST AND SOUTHERN  MISSISSIPPI VALLEY IS YOU CAN SEE AND THAT'S ALSO VERY WARM FOR THIS  TIME OF THE YEAR AND TAKING A LOOK AT THIS STORM SYSTEM YOU CAN SEE IT'S  STARTING TO PRODUCE SOME RAIN ACROSS ILLINOIS, IOWA AND ALSO  SOUTHERN WISCONSIN AS WE HEAD INTO TOMORROW MORNING THEN THAT WILL  INCREASES WE HAD THROUGH THE DAY TODAY WITH A PRETTY WIDE SWATH OF  RAIN FROM THE LOWER GREAT LAKES BACK INTO THE EXTREME EASTERN  KANSAS BY LATER IN THE DAY TOMORROW. AND FINALLY THE NEXT SYSTEM  STARTING TO MOVE IN A NORTHERN CALIFORNIA, WESTERN WASHINGTON AND  WESTERN OREGON LATE IN THE DAY TOMORROW. PRECIPITATION ESTIMATES  OVER THE PAST TWENTY FOUR HOURS HAVE SEEN VERY LITTLE ACROSS THE  LOWER FORTY EIGHT AS YOU CAN SEE. WE'LL ADD A FAIR AMOUNT MORE NORTH OF THE BORDER BUT REALLY IT'S NOT TILL THAT SYSTEM OVER THE CENTRAL PLAINS STARTS TO GET MOISTENED UP A LITTLE BIT WHERE WE START TO SEE  HALF INCH TO ONE INCH AMOUNTS IN SOME AREAS OF THE CENTRAL MISSISSIPPI  VALLEY INTO THE LOWER GREAT LAKES SOME PRETTY HEAVY AMOUNTS AS YOU  CAN SEE IN THE VANCOUVER AREA SHOWING UP ON OUR COMPUTER MODEL AS  WELL SNOWFALL ESTIMATES AGAIN A LOT OF ITS NORTH OF THEIR BORDER A LOT OF IT'S IN THE WESTERN CANADIAN ROCKIES AND ALSO THE NOR THE EASTERN  PORTIONS OF CANADA BUT THERE WILL BE A LITTLE BIT THE HIGHER ELEVATIONS  WESTERN MONTANA DOWN INTO THE CENTRAL ROCKIES AS WELL OVER THE  NEXT THIRTY SIX HOURS HOURS. HIGH TEMPS TODAY NOT EVEN CLOSE TO  NORMAL FOR THE SOUTHERN GREAT LAKES ALL THE WAY TO THE GULF COAST  WITH SEVENTIES AND EIGHTIES DOMINATING, FIFTIES AND SIXTIES NORTH OF THE  FRONT. EVEN THAT'S NOT THAT COLD FOR THIS TIME OF THE YEAR. TOMORROW  MORNING THEN WE WILL SEE MOSTLY 40S ACROSS THE NORTHERN PLAINS,  NORTHERN ROCKIES SOME SPOTS IN THE NORTHERN ROCKIES WILL BE IN THE  THIRTIES AND TWENTIES OBVIOUSLY BECAUSE OF THE HIGHER ELEVATIONS AND  THEN YOU CAN SEE TOMORROW AFTERNOON STILL SEVENTIES ALL THE WAY UP INTO A CENTRAL INDIANA CENTRAL ILLINOIS. EIGHTIES BY THE TIME TO GET TO  THE GULF COAST, LOTS OF FIFTIES AND SIXTIES NORTH OF THAT FRONT. THERE'S  A JET STREAM AS WE HAVE THROUGH THIS WEEK WE ARE GOING TO SEE A  TROUGH DIG INTO THE GREAT LAKES ESPECIALLY INTO THE NORTHEAST AS WE  HAD INTO THE END OF THE WEEK. IT'LL BRING A COLD SHOT OF AIR TO NEW  ENGLAND BUT THEN YOU CAN SEE HUGE RIPPLES IN THE JET STREAM AS WE  HEAD INTO NEXT WEEK. THAT WILL BE AN INTERESTING SITUATION TO WATCH.  THAT'S A LOOK ACROSS THE COUNTRY NOW LET'S TAKE A LOOK AT SOME LOCAL  FORECASTS. WE HEAD TO SACRAMENTO CALIFORNIA FIRST OF ALL A MIX OF  CLOUDS AND SUNSHINE AND COOL HIGH OF SIXTY FIVE. HERE O SOUTH DAKOTA PARTLY SUNNY AND MILD MAY BE A SPOTTY SHOWERS HIGH OF SIXTY THREE.  AND TOLEDO OHIO VERY COMFORTABLE WITH PARTLY SUNNY SKIES HIGHS  SEVENTY FOUR.

TEASE
THE DAIRY REPORT IS NEXT INCLUDING A LOOK AT WHY SOME ANALYSTS EXPECT  GLOBAL PRICES TO SEE AN INCREASE. PLUS CENTURIES-OLD STRUCTURES CRUMBLE TO THE GROUND....A SETBACK  FOR MONKS USING THEIR BREW TO RESTORE A BASILICA TO ITS FORMER GLORY. HERE'S THE SECRET TO SELLING OLD EQUIPMENT. PETE'S PICK OF THE WEEK  LETS YOU EASILY VIEW CURRENT MARKET PRICES. JUST TEXT PETE TO 31313 TO  GET STARTED!

DAIRY REPORT
IN OUR DAIRY TV REPORT, A GLOBAL BENCHMARK FOR DAIRY PRICES COULD BE  POINTING A HIGHER MARKS. LATER TODAY, NEW ZEALAND'S GLOBAL DAIRY TRADE AUCTION ANALYSTS  EXPECT TO SEE WHOLE MILK POWDER FUTURES CLIMB AT LEAST 5 PERCENT. THE RALLY DRIVEN BY NEWS FROM FONTERRA THAT MILK COLLECTION IS  SOFTENING OCEANNA REGION AND IN EUROPE. MEANWHILE ONE OF THE LARGEST PRODUCING REGIONS IN THE WORLD IS  TRYING TO TAKE SOME COWS OUT OF PRODUCTION.  THE E-U HAS BETWEEN 570 AND 600-THOUSAND DAIRY FARMS. ITS NOW TRYING TO DEAL WITH HIGHER PRODUCTION SINCE PULLING ITS QUOTA  SYSTEM LAST APRIL. OFFICIALS ARE LOOKING AT WAYS TO PROTECT FARMERS FROM LOWER PRICES  BUT WITH FEWER SUBSIDIES.  ITS LETTING FARMERS VOLUNTARILY SIGN UP TO REDUCE PRODUCTION FOR 3  MONTHS AND GET PAID FOR WHAT YOU DON'T PRODUCE. YOU HAVE TO REMEMBER THAT AFTER THE THREE MONTH PROGRAM IS OVER, YOU HAVE TO HAVE COWS READY TO MILK IN THAT KEY PERIOD. THE LIKELIHOOD OF THEM TAKING A BIG STANCE OF REDUCING MILK PRODUCTION IS PRETTY SMALL. IN FACT, IF YOU MAKE A COMPARISON TO OUR OWN ATTEMPTS IN THE PAST, LIKE THROUGH PROGRAMS CWT OR OTHERWISE, WE GENERALLY ARE NOT SUCCESSFUL. IN THEEND WE CONTINUE TO GROW PRODUCTION BECAUSE WE'RE INDEPENDENT. WE'RE THROUGH GREATER PRODUCTION WE CAN INCREASE OUR REVENUE IF PRICE COOPERATES AND I DON'T SEE THIS PROGRAM REALLY GOING ANYWHERE CLINTON. AUSTRALIA'S LARGEST MILK PROCESSOR SAYS IT WILL INCREASE THEIR  PAYMENTS TO FARMERS WHO ARE STRUGGLING IN THE DAIRY ECONOMY. MURRAY GOULBURN WILL INCREASE PAYMENTS BY TWO-CENTS PER  HUNDREDWEIGHT. ACCORDING TO OUR REPORTING PARTNERS AT 'DAIRY HERD  MANAGEMENT' THE DAIRY CO-OP SLASHED PRICES PAID TO FARMERS FOR THEIR  MILK IN APRIL. PRICES FOR DAIRY INGREDIENTS LIKE MILK AND BUTTER HAVE FALLEN SHARPLY  FOR MORE THAN TWO YEARS, HIT BY A GLOBAL OVERSUPPLY,. WHEN WE COME BACK - WE LOOK AT THE DAMAGE OF A WEEKEND EARTHQUAKE - AND THE DEVASTATING SETBACK FOR A GROUP OF MONKS TRYING TO RESTORE  THEIR CHURCH. YOU'RE A FARMER.  AND YOU ARE RELENTLESS.  WE'RE RELENTLESS TOO.  VISIT MYCOGEN-DOT-COM, OR YOUR LOCAL MYCOGEN SEEDS DEALER TO LEARN MORE ABOUT OUR RELENTLESS DEDICATION TO YOU.

IN THE COUNTRY
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA'S BX AND L SERIES COMPACT  TRACTORS - AVAILABLE NOW WITH A SIX-YEAR LIMITED POWERTRAIN WARRANTY.   LEARN MORE TODAY AT YOUR LOCAL KUBOTA DEALER.SUNDAY'S EARTHQUAKE IN CENTRAL ITALY SPARED HUMAN LIFE, BUT IT  DESTROYED HISTORIC LANDMARKS THAT HAVE SURVIVED CENTURIES. THAT INCLUDES TWO CHURCHES. ONE OF THOSE IS THE BASILICA OF SAINT BENEDICT IN THE CITY OF NORCIA  YOU CAN SEE THE 14TH CENTURY BUILDING WAS ALL-BUT  FLATTENED BY THE SIX-POINT-SIX TEMBLOR. YOU MAY REMEMBER THIS CHURCH FROM A STORY WE AIRED LAST SPRING.  THE  MONKS OF THE MONASTERY ASSOCIATED WITH THIS BASILICA BREW BEER.  AND  THE MONEY RAISED WAS HELPING TO RESTORE THE CENTURIES-OLD HOUSE OF  WORSHIP. IN THIS SCENIC VALLEY OF CENTRAL ITALY, THE BENEDICTINE MONKS OF NORCIA  SPEND THEIR DAY IN REFLECTIVE PRAYER AND CHANTING THE  DIVINE WORD OF GOD.  IN THE WEEKS LEADING UP TO EASTER, THEY KEEP TO A STRICT SCHEDULE  OF BOTH. LIKE MANY CHRISTIANS AROUND THE WORLD, THE MONKS ARE PRACTICING ABSTINENCE FOR THE 40 DAYS  BEFORE EASTER. THEY RISE AT THREE IN THE MORNING, PRAY EIGHT TIMES A DAY IN ST. BENEDICT'S  BASILICA, AND FAST UNTIL EVENING..AFTER A LONG DAY OF WORK AND MEDITATION, THE MONKS ENJOY - WELL - "A  COLD ONE" PERHAPS A MONK'S BEST KEPT SECRET TO SUSTAIN THEMSELVES DURING LENT IS... CRAFT BEER. "THE MONKS EAT ONLY ONE MEAL A DAY, OFTEN LATE IN THE AFTERNOON, SO BEER WAS A WAY TO ADD  SUSTENANCE TO THAT MEAL." FATHER BENEDICT CAME UP WITH THE IDEA, A HIGH-QUALITY DOUBLE-FERMENTATION BREW MADE  SOLELY BY NORCIA'S BENEDICTINE MONKS. IN 2012, THE 18 MONKS IN THIS MEDIEVAL TOWN MADE THEIR FIRST BATCH OF HOMEBREW.   BROTHER FRANCIS IS NURSIA'S BREW MASTER. HE WAS TRAINED BY FELLOW MONKS IN  BELGIUM."WE LOOKED AT MAKING A BLONDE AND A BELGIAN STRONG DARK, WHICH ARE KIND OF THE SYMBOLS  OF MONASTIC BREWING, SO WE DECIDED ON THAT STYLE, BECAUSE IT'S WELL KNOWN, IT'S REPRESENTING  MONASTIC BEERS, THEY'RE PRETTY TRADITIONAL, AND I PERSONALLY LIKE THAT TYPE OF BEER."IT'S AN ANCIENT TRADITION FOR MON-ASTICS TO BREW BEER. FATHER BENEDICT SAYS THE  MONKS SOUGHT TO SHARE WITH THE WORLD A PRODUCT WHICH  CAME ABOUT IN THE VERY HEART OF THE MONASTIC LIFE. IN A COUNTRY WHERE WINE PRODUCTION AND CONSUMPTION DATES BACK CENTURIES, THE BROTHERS  KNOW THEY NEED TO MAKE A BEER THAT THE ITALIAN CULTURE - AND THE LOCALS - COULD APPRECIATE. "WE HEARD A LOT THAT THEY WOULDN'T LIKE A BEER THAT WAS VERY HOPPY, VERY BITTER, SO WE HAD  TO KIND OF KEEP THAT IN MIND AS WELL, THAT WE'RE IN A COUNTRY WHERE WINE IS THE PRINCIPAL  DRINK." THE SUCCESS OF THEIR BREW IS HELPING PAY THE BILLS AND REPAIRS ON THE MONASTERY WHERE SOME  OF THE CONSTRUCTION DATES BACK IN TIME TO THE 13-HUNDREDS. "WE HAVE ANCIENT BUILDINGS HERE. THE CRYPT COMES FROM THE 1ST CENTURY. WE HAVE 14TH  CENTURY WALLS AROUND THE WHOLE PROPERTY AND ALL OF THEM NEED CONSTANT MAINTENANCE,  CONSTANT SUPPORT, SO IT ALSO ENABLES US TO KEEP THE BUILDING NOT JUST IN SHAPE, BUT ALSO  BEAUTIFY IT, MAKE IT INTO SOMETHING REALLY BEAUTIFUL TO GLORIFY GOD."THEIR MONASTIC BREWING HAS GROWN TO 40-THOUSAND BOTTLES A MONTH. AND THERE'S  CONSUMER DEMAND FOR MORE. BUT THE MONASTERY IS HESITANT TO ADD  PRODUCTION TO THEIR CHRIST-CENTERED LIVES. "WE WANT TO BREW AT A HIGH QUALITY, WHAT WE'RE ABLE TO BREW AT A HIGH QUALITY AND STILL LIVE OUR  MONASTIC LIFE OF PRAYER,WHICH WILL LIMIT US IN OUR PRODUCTION. AND SO OUR RESPONSE IS, 'WE MAKE WHAT WE MAKE AND  YOU HAVE TO GET IN LINE TO BUY IT'." FATHER BENEDICT SAYS SOMETIMES BEER BECOMES AN EFFECTIVE TOOL TO ENGAGE WITH PEOPLE WHO  MIGHT NOT OTHERWISE GET INVOLVED WITH THE CHURCH. "SO MANY PEOPLE ARE AFRAID OF GOING TO CHURCH, AFRAID OF TALKING ABOUT GOD, AFRAID OF THINGS  THAT HAVE TO DO WITH RELIGION. BUT THEY'RE SO MUCH MORE EASY, WHEN TALKING ABOUT BEER. SO FOR  US IT'S A WAY TO OPEN A DOOR; A DOOR THAT MAYBE THEY'VE NEVER WANTED OPEN BEFORE." > A CALLING FROM ABOVE....SAVING SOULS.... SERVING MAN IN MORE WAYS THAN  ONE. ACCORDING TO THE MONK'S OF NORCIA WEBSITE, ALL OF THEM ARE SAFE...AND  ARE HELPING THEIR SUFFERING NEIGHBORS.

CLOSE
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.

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