AgDay Daily Recap- November 22, 2016

September 7, 2016 02:57 AM
 
AgDay

TODAY ON AGDAY
NOVEMBER 22, 2016

HEADLINES
COMING UP TODAY ON AGDAY - THE RUSH OF GRAIN HARVEST IS COMING TO A  CLOSE. PLUS, COULD CALIFORNIA JOIN THE FEDERAL MILK MARKETING ORDER. IN  AGRIBUSINESS...FLIPPING THE PAGE ON 2016. YOU'VE ALREADY PUT DOWN ONE LEG SO IT'S VERY IMPROTANT THAT YOU LOCK  DOWN THAT LEG OF PRICE  PRICES MAY BE DOWN BUT SEVERAL STATES ARE PUMPING MORE MILK THAN  LAST YEAR. AND FINDING A WAY TO TURN LEFT OVERS AND THROW AWAYS INTO ART. AGDAY-BROUGHT TO YOU BY THE DEPENDABLE, LONG LASTING CHEVY  SILVERADO.

CROP PROGRESS
GOOD MORNING I'M CLINTON GRIFFITHS. AS THE NATION PREPARES TO  CELEBRATE THANKSGIVING THIS WEEK, MOST OF AMERICA'S GRAIN FARMERS  ARE MARKING THE END OF ANOTHER HARVEST SEASON. WITH LATE SEASON RAINS AND RELATIVELY MILD TEMPERATURES THIS HARVEST  SEASON HAS MOVED ALONG STEADILY.  USDA CROP PRODUCTION REPORTS CONTINUE TO FORECAST RECORD YIELDS  FOR ALL THREE OF THE MAJOR GRAINS--CORN, SOYBEANS AND WHEAT. GOOD NEWS GIVEN CURRENT GRAIN PRICES. FARMERS ARE ALREADY MOVING ON. "TOP OF MIND IS ALREADY THINKING ABOUT NEXT YEAR'S CROP. BECAUSE I'M MAKING MY DECISION FOR  NEXT YEAR ON INPUTS AND WHAT I NEED TO PUT IN FOR NEXT YEAR'S CROP TO KEEP MY COSTS DOWN BUT ALSO KEEP MY YIELDS UP."IN ONE OF THE LAST CROP PROGRESS REPORTS OF THE YEAR, USDA SAYS CORN  HARVEST IS AT 97-PERCENT NATIONWIDE. EVEN IN STATES WHERE CORN HARVEST CONTINUES, THE STATEWIDE AVERAGE  IS RUNNING AT OR AHEAD OF AVERAGE, COTTON HARVEST IS RUNNING BEHIND. 67-PERCENT IS PICKED. IT'S USUALLY 77%  BY NOW. THE REASON FOR THE DELAY IS TEXAS. ONLY 47-PERCENT IS HARVESTED.  THE FIVE YEAR AVERAGE IS 68 PERCENT. AND HEADING INTO WINTER, 58-PERCENT OF WINTER WHEAT IS GOOD TO  EXCELLENT. IN MONTANA - 76-PERCENT IS GOOD TO EXCELLENT. 55-PERCENT IN KANSAS. AND 56-PERCENT IN OKLAHOMA 

HAWAII GMO BAN
IN HAWAII, THE COUNTIES SEEKING TO BAN GMO CROPS OR IMPOSE  REGULATIONS ON PESTICIDES HAVE BEEN DEALT A SIGNIFICANT LOSS. THE NINTH CIRCUIT COURT OF APPEALS RULING THAT STATE AND FEDERAL LAWS  PRE-EMPT LOCAL ORDINANCES... THAT MAKES THE COUNTY ORDINANCES NULL. THE DECISION ALSO RAISES QUESTIONS ON THE RULING'S POTENTIAL TO IMPACT  THE MORE THAN 100 SIMILAR STATUTES, REGULATIONS AND ORDINANCES  PASSED AROUND THE COUNTRY...ESPECIALLY IN CALIFORNIA AND OREGON-- WHERE THE NINTH CIRCUIT HAS JURISDICTION.

FEDERAL MILK MARKETING ORDER
ONE THING THE NEXT ADMINISTRATION, WILL HAVE TO OVERSEE IS WHETHER OR  NOT CALIFORNIA DAIRY PRODUCERS WILL JOIN THE FEDERAL MILK MARKETING  ORDER. NATIONAL REPORTER BETSY JIBBEN LOOKS INTO THE ISSUE AND WHY SOME  PRODUCERS THINK IT HAS POTENTIAL TO BE A PRICE BENEFIT..  CALIFORNIA LEADS THE NATION IN MILK PRODUCTION BUT ITS PRODUCERS  WONDER HOW LONG IT WILL LAST...  "I THINK WE'RE GOING TO TURN THE CORNER HERE SOON IN CALIFORNIA TO WHERE WE'RE GOING TO BE  SHORT OF MILK,"THAT'S DUE TO A NUMBER OF ISSUES FROM OVERTIME PAY LAWS TO WATER TO  CONSOLIDATION AND EVEN DAIRY INVESTMENTS IN OTHER STATES.  "MANY OTHER PARTS OF THE COUNTRY ARE GROWING IN MILK SUPPLY AND HERE... WE'VE DECREASED IN  MILK PRODUCTION.""I THINK THAT'S DIRECTLY RELATED TO LOWER MILK PRICES WE'RE SEEING. PEOPLE AREN'T MOVTIVATED TO  MAKE MILK HERE IF YOU'RE NOT GETTING PAID THE COST OF PRODUCTION OR BETTER," THOSE PAYMENTS PUSH SOME DAIRY PRODUCERS TO MAKE A CHANGE.  USDA HELD HEARINGS IN THE STATE LAST YEAR TO SEE IF CALIFORNIA  PRODUCERS WANT TO JOIN THE FEDERAL MILK MARKETING ORDER.  MANY STATES ARE PART OF THE ORDER WHICH IS DESIGNED TO MAKE SURE  PRODUCRES GET A REASONABLE MINIMUM PRICE FOR MILK FROM ITS  PROCESSORS. CALIFORNIA IS ONE STATE WHICH HAS ITS OWN ORDER.  " IT WILL BE REALLY DEPENDENT ON WHAT THAT PROPOSED RULE LOOKS LIKE AND IF THAT  MOVES  FORWARD. IT COULD HAVE RAMIFICATIONS FOR THE REST OF THE COUNTRY TOO."> NOW USDA IS SORTING THROUGH THE TESTIMONY AND PLANS TO ISSUE A  PROPOSED RULE IN 2017. AFTER A COMMENT PERIOD, A MAJORITY VOTE AMONG  CALIFORNIA PRODUCERS IS NEEDED TO IMPLEMENT USDA'S REVISED PROPOSAL.  A MOVE TO TEH FEDERAL ORDER IS SUPPORTED BY TRADE ORGANIZATIONS AND  THREE MAJOR CO'OPS REPRESENTATIVE 80 PERCENT OF THE MILK. "THERE'S A SEGMENT OF PRODUCERS WHO WILL VOTE FOR IT NO MATTER WHAT IT SAYS. THEN THERE'S A  SEGMENT OF FPRODUCERS WHO WILL VOTE FOR IT NO MATTER WHAT IT SAYS,""MOST OF US ARE WAITING TO SEE WHAT'S IN IT. I CAN'T SAY IF IF I'M FOR IT OR AGAINST IT UNTIL I KNOW  HOW UNIQUE IT IS. IF THEY'RE GOING TO GIVE US THE UPPER MIDWEST ORDER AND PLUG IT INTO  CALIFORNIA, IT'S PROBABLY NOT GOING TO WORK,"SOME INDUSTRY LEADERS SAY BOTH ORDERS SET MINIMUM PRICES. BUT  CALIFORNIA'S MINIMUM PRICE HAS BEEN LOWER THAN THE FEDERAL MILK  MARKETING ORDER ACROSS THE BOARD IN ALL CLASSES. "THE CALIFORNIA PRICE FOR THE LAST QUITE A FEW YEARS HAS BEEN UNDER HTE FEDERAL MARKETING  ORDER. THAT'S ANYWHERE FROM 25 CENTS TO 2 DOLLARS UNDER THE ORDER.  I'M NOT TOO MUCH TO  COMPLAIN ABOUT MILK PRICES. I'VE DONE FINE.. BUT THERE IS A POINT WHERE YOU WONDER WHY MILK  IS SO MUCH CHEAPER HERE THAN IN OTHER PARTS OF THE COUNTRY. WHY IS THAT?"A BIG CHANGE THE STATE WITH THE LARGEST MILK PRODUCTION WILL HAVE TO  DECIDE... THERE ARE SOME DIFFERENCES BETWEEN CALIFORNIA'S STATE ORDER AND THE  FEDERAL MILK MARKETING ORDER.  ONE IS WITH VOLUNTARY AND MANDATORY MILK POOLING.  ALSO, MANY CALIFORNIA PRODUCERS HAVE MADE INVESTMENTS IN THEIR QUOTA  SYSTEM. SOME PRODUCERS SAY THEY MAY VOTE AGAINST JOINING THE ORDER  IF THE QUOTA SYSTEM IS CHANGED OR ELIMINATED IN THE PROPOSAL.  THANKS BETSY. LAND O LAKES, CALIFORNIA DAIRIES INCORPORATED AND DAIRY FARMERS OF  AMERICA ARE THE CO'OPS SUPPORTIVE OF JOINING THE ORDER AND PETITIONED  TO JOIN. 

TYSON STOCK TUMBLING
SHARES OF TYSON FOODS STOCK TUMBLED NEARLY 16-PERCENT MONDAY AFTER  THE COMPANY ANNOUNCED IT WAS NOT GOING TO HIT ITS EARNINGS TARGET. AT THE SAME TIME, C-E-O DONNIE SMITH ANNOUNCED HE'S STEPPING DOWN. TYSON'S SALES FELL  TO NINE-POINT-ONE BILLION DOLLARS IN THE FOURTH QUARTER.  ANALYSTS EXPECTED REVENUE OF NINE-POINT-THREE BILLION.  ACCORDING TO  THOMSOM REUTERS THAT'S THE FOURTH STRAIGHT QUARTER OF DECLINES.

CROP COMMENTS
"CROP COMMENTS IS POWERED BY RESICORE HERBICIDE FOR CORN, FROM  DOW AGROSCIENCES."   THE U.S FOREST SERVICE HAS FINISHED ITS SURVEY OF DEAD AND DROUGHT  STRICKEN TREES IN CALIFORNIA. IT SAYS SINCE 2010 MORE THAN 102 MILLION HAVE DIED...62 MILLION OF THOSE IN  2016 ALONE.THEY SAY MILLIONS MORE ARE LIKELY TO HAVE BEEN WEAKENED AND WILL DIE IN  THE COMING MONTHS AND YEARS BECAUSE OF DROUGHT. LETS TURN IT OVER TO MIKE HOFFMAN NOW FOR THIS MORNING'S CROP  COMMENTS.  GOOD MORNING, CLINTON.  LET'S START OFF WITH COTTON HARVEST IN VERNON, TEXAS...THAT'S NORTH AND  WEST OF WICHITA FALLS ALONG THE TEXAS OKLAHOMA LINE. JULIE TOMASCIK SAYS COTTON HARVEST SEEMS TO BE MOVING ALONG BUT  BEHIND NORMAL.  STATE COTTON SPECIALISTS SAY THE ROLLING PLAINS AREA COULD SEE ONE OF  THE BETTER CROPS THEY'VE HAD IN QUITE SOME TIME. AND TOM DE GROOT FROM MELBA, IDAHO SENT US A PHOTO OF A HOLSTEIN  DAIRY IN THE AREA.  ACCORDING TO USDA'S MILK PRODUCTION REPORT, IDAHO'S MILK PRODUCTION  IN OCTOBER INCREASED FROM LAST YEAR BY 4 PERCENT. AND TAKING A LOOK AT  THE WEATHER MAP PRETTY GOOD STORM SYSTEM MOVING EASTWARD ACROSS  THE COUNTRY IT WILL BRING RAIN TO SOME AREAS AND SNOW TO OTHERS I'LL  HAVE MY FORECAST COMING UP BUT NOW HERE ARE SOME HOMETOWN TEMPS.

TEASE
WHEN WE COME BACK, ITS BEEN A WILD COUPLE OF WEEK IN FINANCIAL  MARKETS, WE'LL TALK ABOUT GRAIN MARKETS AND PREPPIING FOR THE YEAR  AHEAD. PLUS THE LONESTAR STATE SAW A JUMP IN MILK PRODUCTION IN OCTOBER. WE'LL TELL YOU HOW MUCH. AND A NORTH DAKOTA ARTIST SHOWS US HOW AGING IRON CAN BE TURNED INTO  WORKS OF ART. ENTER FOR YOUR CHANCE TO WIN TWO REGISTRATIONS TO THE TOP  PRODUCER SEMINAR - JANUARY 24TH THROUGH THE 27TH IN CHICAGO.   PACKAGE INCLUDES A THREE-NIGHT HOTEL STAY, PLUS A TWO-HUNDRED DOLLAR  VISA GIFT CARD!  GO TO TOPPRODUCERSEMINAR.COM/SWEEPSTAKES.  

FLOOR OF THE CME
AGRIBUSINESS TODAY, BROUGHT TO YOU BY YAMAHA - MAKERS OF VIKING SIDE- BY-SIDES.  YAMAHA - REAL WORLD TOUGH. IN AGRIBUSINESS LETS SEE HOW MARKETS KICKED OFF THE WEEK FROM THE  FLOOR OF THE CME IN CHICAGO. IT'S BEEN MOSTLY A STRONGER DAY AND THE GRAIN MARKETS WITH SOYBEANS REALLY LEADING THE WAY.  SOYBEANS RALLYING DUE TO TALK THAT CHINA HAS BEEN A VERY ACTIVE BUYER OF SOYBEANS HERE IN  THE US AGAIN THIS WEEK  AND AGAIN TODAY AND ARE BUYING FUTURES TO GET THE PRICING DONE.  THAT'S LED TO SOME SPECULATIVE BUYING WITH THE FUNDS AND OTHER SPECULATORS REALLY DOING THE BEST TO PUT  THIS MARKET HIGHER.A CRUSH MARGINS IN CHINA HAVE BEEN VERY POSITIVE IN THAT REALLY SUPPORTED THE CHINESE BUYING  HERE AND THEY'RE SELLING THE PRODUCTS IN CHINA. CATTLE AND HOGS PUTTING IN STRONGER  PERFORMANCES HERE TODAY.  THANKS VERY MUCH THIS IS JACK SCOVILLE, OF PRICE FUTURES GROUP HERE  WITH SOME COMMENTS FROM THE MARKET.

AGRIBUSINESS
AS HARVEST WRAPS UP EYES ARE ALREADY TURNING TOWARD A NEW YEAR.  TYNE MORGAN JOINS US FROM THE AGRIBUSINESS DESK WITH A LOOK AT 2017. HERE NOW WITH BRIAN BASTING OF ADVANCE TRADING, BRIAN, I KNOW WE'RE STILL IN 2016, BUT LOOKING  AT TWENTY SEVENTEEN, IT IS QUICKLY APPROACHING HE WAS NEVER TOO EARLY TO LOOK A TWENTY  SEVENTEEN SO WHAT SHOULD OUR STRATEGY BE HEADING INTO THE NEW YEAR? IT'S A GREAT POINT TYNE. BECAUSE YOU LOOK AT THE NOVEMBER SEVENTEEN BEAN  CONTRACT FOR EXAMPLE, IT'S STILL JUST A LITTLE BETTER BELOW TEN DOLLARS A BUSHEL AND DECEMBER TWO  THOUSAND SEVENTEEN CORN CONTRACT STILL AROUND THREE EIGHTY THREE EIGHTY FIVE A BUSHEL. WE'RE  ENCOURAGING PRODUCERS TO  YOU HAVEN'T GOT ANY PROTECTION IF YOU DON'T HAVE ANY PROTECTION ON BUT FOR EXAMPLE YOU  BOUGHT SEED  OR IF YOU'VE ESTABLISHED YOUR ANHYDROUS IN THE FALL FOR CORN, YOU'VE ALREADY PUT  DOWN ONE LEG. SO IT'S VERY IMPORTANT THAT YOU LOCK DOWN THE LEG OF PRICE BUT HERE'S THE KEY: BE FLEXIBLE. GET A FLOOR IN PLACE, LEAVE THE UPSIDE OPEN. HERE'S A PIECE OF GOOD NEWS. THE  VOLITALITY ON THE OPTIONS RIGHT NOW, THE BALL FOR TWENTY SEVENTEEN IS HISTORICALLY LOW. SO AS A  BUYER FOR A PUT OPTION FOR EXAMPLE, THAT WORKS TO YOUR FAVOR IN TERMS OF HIGH VOLATILITY IN  ENVIRONMENT WHERE YOU PAY MORE.  WHEN WE LOOK AT SOUTH AMERICA WHAT SHOULD OUR STRATEGY BE CONSIDERING BRIAN THAT THEY HAVE  BEEN PLANTING AT AN IMPRESSIVE PACE, WEATHER HAS BEEN FRIENDLY FOR THEM. THINGS ARE LOOKING  GOOD. SO, CONSIDERING THAT AND WE COULD STILL HAVE A PRODUCTION HICCUP WITH THOSE UNKNOWNS  DOWN THERE WHAT SHOULD OUR STRATEGIES BE? DEFEND, DEFEND, DEFEND, TYNE.  BY THAT I MEAN DEFEND AGAINST THAT HIGHER PRODUCTION LEVEL WE  COULD SEE UP TO A THIRTY FIVE TO FORTY PERCENT INCREASE IN BRAZIL CORN PRODUCTION THIS YEAR.  DEFEND DEFEND BUT GIVE YOURSELF AN OPPORTUNITY  TO PARTICIPATE IF A MARKET RALLY OCCURS BECAUSE OF A WEATHER ISSUE, WHETHER BE WET WEATHER  PLANTING OR LATE DROUGHT, WHATEVER. THAT PUT  OPTION GIVES YOU A  FLOOR IN THE MARKET. IT LEAVES  THE UPSIDE OPEN OR A CASH SALE WITH THE CONJUNCTION WITH THE PURCHASE OF A CALL BUT DEFEND,  DEFEND, DEFEND BUT GIVE YOURSELF FLEXIBILITY IN A MARKET. YOU NEED TO BE A MARKET PARTICIPANT IF  THE MARKET DOES GO HIGHER. ALRIGHT, THANKS SO MUCH BRIAN. STAY WITH US. WE HAVE MORE AGDAY WHEN WE COME  BACK.  TO TALK WITH BRIAN ONE ON ONE CALL ADVANCE TRADING AT 800-664-2314 OR HEAD ONLINE TO ADVANCE-TRADING.COM

WEATHER
WELCOME BACK TO AGDAY WITH MIKE HOFFMAN. MIKE, LOOKING AT THE MAP  HERE, BOY, THERE'S SOME STORMS BREWING OUT WEST. YES, AND WE HAVE A  BIG TRAVEL DAY THIS WEDNESDAY AND WE'RE LOOKING AT A FAIR AMOUNT OF  RAIN AND SNOW IN THE MIDDLE OF THE COUNTRY.   AND YOU CAN SEE WE'RE ALREADY SEEING SOME RAIN IN THE CENTRAL PLAINS  STATES WITH A MIXTURE OF RAIN AND SNOW NORTH OF PARTS OF MINNESOTA,  EAST EASTERN NORTH DAKOTA. STILL SOME SNOW FROM THE PREVIOUS STORM  SYSTEM, NOW THE STORM WHICH HIT THE PLAINS MOVED IN EASTERN CANADA BUT SOME ENERGY SOUTH OF THAT SET UP ALONG A COLD FRONT THAT'S STILL  CAUSING SOME PRETTY GOOD SNOWS IN NEW ENGLAND. AND IN EASTERN PORTIONS OF THE GREAT LAKES BUT AS WE PUT THE MAPS  INTO MOTION, HIGH PRESSURE MOVING EAST AROUND THE GREAT LAKES AND  INTO THE SOUTHEAST, KEEPING THINGS DRY IN THOSE AREAS AND IN THE  EASTERN PORTIONS OF THE GREAT LAKES.  I KNOW YOU FOLKS IN THE SOUTHEAST WOULD LOVE THIS STORM WOULD BE  COMING YOUR WAY AND UNFORTUNATELY IT'S MOVING EAST AND NORTHEAST  AND SO WE'RE LOOKING A SOME RAIN LATER IN THE DAY, MISSOURI,  IOWAALL  THE WAY SOUTHWARD AT LEAST SCATTERED VARIETY IN THE EASTERN TEXAS. THERE WILL BE SOME SNOW IN THE NORTHERN AND WESTERN PORTIONS OF THE  STORM SYSTEM  ESPECIALLY FOR CENTRAL NEBRASKAAND INTO SOUTH DAKOTA IN CENTRAL  MINNESOTA. THE NEXT STORM SYSTEM OUT WEST, YOU CAN SEE A DOUBLE  BARREL SYSTEM OUT WEST BRINGING IN SOME RAIN AND MOUNTAIN SNOWS IN  THE WESTERN STATES, HEADING THROUGH TONIGHT, THE RAIN MOVES  EASTWARD INTO THE OHIO VALLEY  AND THE WESTERN GREAT LAKES MAY START  AS SNOW.  IN NORTHERN INDIANA, SOUTHWESTERN MICHIGAN BUT IT WILL BE SNOW  FARTHER NORTH IN AS WE HEAD THROUGH THE DAY TOMORROW, RAIN FROM  THE SOUTHERN GREAT LAKES ALL THE WAY OUT INTO THE SOUTHERN  MISSISSIPPI VALLEY BUT YOU'LL NOTICE IT'S VERY SCATTERED DOWN HERE.  UNFORTUNATELY JUST NOT A LOT OF MOISTURE IS GOING TO A CAUSE SOME  NICE RAINS FOR YOU  IN THE SOUTHEAST BUT THAT WILL CONTINUE TO MOVE  EASTWARD. THAT WILL CONTINUE TO SEE A STORM SYSTEM START TO COME IN  FROM END TO THE PACIFIC NORTHWEST. SO LET'S CHECK OUT PRECIPITATION  ESTIMATES OVER THE PAST TWENTY FOUR HOURS AND THIS IS MELTED SNOW IN  SOME CASES, ESPECIALLY IN THE NORTHEAST. ADDING ON THE NEXT THIRTY SIX  HOURS, YOU CAN SEE THE SYSTEM OVER THE CENTRAL PLAINS, REALLY STARTS  TO A MOISTENED UP THERE AND IT IS OUR MODEL IS SHOWING SOME HEAVY  THUNDERSTORMS AND DOWN ALONG THIS COLD FRONT FOR PARTS OF  ARKANSAS, LOUISIANA, EASTERN TEXAS WHICH IS GOOD NEWS THERE WHETHER  THAT TRANSLATES EAST IS THE BIG QUESTION AS WE HEAD INTO A TOMORROW.  HOPEFULLY, BUT THAT IS SOMETHING WE'LL HAVE TO WATCH. LOOKING AT SNOW  THEN, MOST OF ITS BEEN IN THE HIGHER ELEVATIONS OF THE ROCKIES AS WELL  AS THE NORTHEAST. ADDING THEN THE NEXT THIRTY SIX THOUGH, WE'LL START  TO SEE SNOW BREAKOUT   IN THE NORTHERN PLAINS, ESPECIALLY  MINNESOTAAND NORTHERN WISCONSIN.  TAKING A LOOK AT TEMPERATURES THIS AFTERNOON STILL SINCE SEVENTIES IN  TEXAS FORTIES AND FIFTIES YOU CAN SEE THROUGH THE OHIO RIVER VALLEY,  THIRTIES OVER THE TIME WE GET TO THE NORTHERN GREAT LAKES. LOW  TEMPERATURES TONIGHT GOING TO DROP IN THE TWENTIES FOR PARTS OF  NORTHEAST, PART OF THE PLAINS STATES MUCH CHILLIER AIR BUT NOT UNUSUAL  FOR THIS TIME OF THE YEAR, STILL PRETTY MILD ALONG THE GULF COAST AND  YOU CAN SEE  WE STAY MILD SOUTH BUT  TURN A LITTLE CHILLIER FARTHER  NORTH. THERE'S THE JET STREAM. YOU CAN SEE RIPPLES MOVING FROM WEST  TO EAST ACROSS A COUNTRY. THAT MEANS WE'RE NOT GOING TO SAY ANY  PROLONGED PERIOD OF COLD WEATHER QUITE YET. BUT WE ARE GOING TO SEE  SOME COLD AIR INTRUSIONS NEXT WEEK. YOU CAN SEE TWO TROUGHS THERE.  NOW LET'S TAKE A LOOK AT SOME LOCAL FORECASTS.  FIRST OF ALL FOR ALBUQUERQUE, NEW MEXICO, PARTLY TO MOSTLY SUNNY AND  MILD TODAY HIGH TIME OF FIFTY FIVE. PEORIA, ILLINOIS BECOMING CLOUDY  MAYBE A LITTLE BIT AWAY IN LATE IN THE DAY. THE HIGH OF FORTY SEVEN.    CHARLESTON, SOUTH CAROLINA, PARTLY SUNNY AND VERY COMFORTABLE HIGH  ROUND SIXTY.

TEASE
JUST AHEAD IN OUR DAIRY REPORT WE'LL SORT THROUGH THE LATEST  PRODUCTION NUMBERS AND SEE WHICH STATES ARE REPORTING BIG GAINS. AND MEET AN ARTIST WHO HAD THE ADAGE 'WASTE-NOT, WANT NOT' DRILLED  INTO HIS WORK ETHIC AS A FARM KID.  AND THAT MESSAGE LIVES-ON TODAY.

DAIRY REPORT
USDA JUST ROLLING OUT IT'S OCTOBER DAIRY PRODUCTION REPORT. YEAR OVER YEAR, PRODUCTION IS UP 2 POINT 5 PERCENT. BREAKING IT DOWN STATE, TEXAS REPORTED THE LARGEST JUMP IN  PRODUCTION--UP MORE THAN 8 (8.2) PERCENT YEAR OVER YEAR. KANSAS PRODUCTION CLIMBED NEARLY 8 (7.7) PERCENT. CALIFORNIA DAIRIES ALSO SAW MILK INCREASE UP NEARLY 2 (1.8) PERCENT. THAT'S THE FIRST TIME IN 23 MONTHS THAT MILK PRODUCTION HAS BEEN UP  YEAR OVER YEAR. THE GAINS COMING FROM MILK PER COW AS THE GOLDEN STATE HERD REMAINS  DOWN ABOUT 11-THOUSAND HEAD FROM A YEAR AGO. MEANWHILE, ACROSS THE PACIFIC CHINA AND NEW ZEALAND ARE STARTING  FRESH NEGOTIATIONS ON THEIR FREE TRADE AGREEMENT.THE REVISED DEAL IS LIKELY TO HELP NEW ZEALAND'S MAJOR MILK EXPORTERS. CHINA AND NEW ZEALAND FIRST INKED THE AGREEMENT BACK IN 2008. LEADERS SAY THE NEW AGREEMENT SHOULD TAKE INTO ACCOUNT THE OTHER FREE TRADE AGREEMENTS NEGOTIATED SINCE 2008. THE FARM BUREAU JUST RELEASING IT'S ANNUAL PRICE OF THANKSGIVING DINNER.AND THIS YEAR, THE PRICES WENT DOWN OVERALL THANKS TO A DROP IN THE  PRICE OF TURKEY. THE AVERAGE COST FOR A FAMILY OF 10 IS 49 DOLLARS 87 CENTS...DOWN 24  CENTS FROM LAST YEAR. IT'S ONLY THE THIRD TIME IN A DECADE THAT THE SURVEY SHOWED A PRICE  DECLINE. BEFORE YOU HAVE YOUR THANKSGIVING FEAST, WE HOPE YOU JOIN US FOR OUR  ANNUAL TRIBUTE TO FARMERS. ONCE AGAIN WE WILL BRING YOU A "HARVEST OF  THANKS". IT'S BECOME A HOLIDAY TRADITION FOR US TO BRING YOU STORIES  FROM THE HEARTLAND. IT'S A PROGRAM THE ENTIRE FAMILY CAN ENJOY. JOIN US FOR THIS SPECIAL  EDITION OF AGDAY ON THURSDAY.

TEASE
FARMERS ARE OFTEN SLOW TO TOSS AWAY USED EQUIPMENT. NEXT SEE HOW A  ONE-TIME FARM KID IS USING THAT PHILOSOPHY IN HIS ART STUDIO. ENTER FOR YOUR CHANCE TO WIN TWO REGISTRATIONS TO THE TOP  PRODUCER SEMINAR - JANUARY 24TH THROUGH THE 27TH IN CHICAGO.   PACKAGE INCLUDES A THREE-NIGHT HOTEL STAY, PLUS A TWO-HUNDRED DOLLAR VISA GIFT CARD!  GO TO TOPPRODUCERSEMINAR.COM/SWEEPSTAKES.  

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. ) FARMERS HAVE A REPUTATION FOR SALVAGING BROKEN AND WORN OUT TOOLS  OR MACHINERY AND RECYCLING THEM.  A METAL ARTIST WHO HAD THAT  PHILOSOPHY HAMMERED INTO HIM WHILE GROWING UP ON A FARM HAS TURNED  THE TRAIT OF BEING THRIFTY INTO A SUCCESSFUL AND UNUSUAL BUSINESS.   CLIFF NAYLOR FROM AGDAY AFFILIATE KFYR SHOWS US HOW ONE MAN'S TRASH  IS BEING TURNED INTO TREASURE. CHRIS THOMAS WAS TAUGHT THE ART OF WELDING IN A BARN.  CHRIS THOMAS: THE FIRST TIME I  STRUCK AN ARC I JUST LOVED IT FROM THERE.   HE WORKED AS A MANUFACTURING WELDER FOR 20 YEARS,  THEN DECIDED TO STRIKE OUT ON HIS OWN.  HE'S BEEN PRODUCING ART FROM JUNK FOR THE PAST FIVE  YEARS. TAKE SOMETHING THAT MOST PEOPLE THINK IS USELESS AND TURN IT INTO SOMETHING.  THOMAS TURNS  OLD FARM MACHINERY, CHAINS AND TOOLS INTO PLANTERS, BENCHES AND TABLES. ANYTHING A MAGNET  WILL STICK TO HE REPURPOSES. IT'S NOT REAL HARD TO FIND BUT I'M ALWAYS LOOKING. HE LOOKS IN SCRAP METAL YARDS AND RUMMAGE SALES FOR RAW MATERIAL AND INSPIRATION.  PLANTERS  ARE HIS MOST POPULAR SELLER BECAUSE PEOPLE CAN SPRUCE UP THE POTS AND GIVE THEM  PERSONALITY WITH DIFFERENT FLOWERS AND SHRUBS.   HIS CREATIONS ARE SOLD AT CRAFT SHOWS AND  FROM A SMALL STORE THAT'S ADJACENT TO HIS SHOP.  CHRIS THOMAS:  KITCHEN TABLES, SOFA TABLES,  MIRRORS, WALL HANGINGS, BENCHES, A LITTLE BIT OF EVERYTHING. CHRIS PLANS ON CONTINUING TO CREATE SCRAP METAL ART UNTIL THE IRON COWS COME HOME.   I'M CLIFF  NAYLOR REPORTING FOR AGDAY. 

CLOSE
THAT'S ALL THE TIME WE HAVE THIS MORNING. WE'RE GLAD YOU TUNED IN.  FOR BETSY JIBBEN, TYNE MORGAN AND MIKE HOFFMAN, I'M CLINTON GRIFFITHS.  HAVE A GREAT DAY. 

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