AgDay Daily Recap - April 18, 2011

April 18, 2011 08:39 AM
 

TODAY ON AGDAY:
APRIL 18, 2011

FOOD V FUEL ROOK:
THE PRICE OF CORN RETREATED A BIT FRIDAY, CLOSING DOWN 12-CENTS. BUT IT'S STILL APPROACHING PRICE LEVELS NOT SEEN SINCE 2008. WHEN USDA CUT THE PROJECTED CORN INVENTORY TO A 15 YEAR LOW LAST MONTH, IT SET-OFF A NEW ROUND OF CRITICISM ABOUT THE ETHANOL INDUSTRYS' USE OF CORN. ANTI-ETHANOL GROUPS SAY THE FUEL IS DRIVING UP GRAIN PRICES, WITH FOOD COSTS TO FOLLOW. OVER THE NEXT TWO DAYS, AGDAY'S MICHELLE ROOK WILL LOOK AT THE U.S. ETHANOL POLICY TO SEE IF IT'S BEING UNFAIRLY TARGETED. AGRICULTURE OFFICIALS ALSO POINT TO EXCESSIVE SPECULATION AND THE INCREASE OF OUTSIDE INVESTOR MONEY AS ANOTHER REASON CORN AND OTHER COMMODITY PRICES HAVE RISEN.

VILSACK BIOFUELS:
LAST WEEK, AG SECRETARY TOM VILSACK TESTIFIED BEFORE A SENATE COMMITTEE ON THE EFFECT AND INFLUENCE OF BIOFUELS. SPEAKING BEFORE THE SENATE'S ENVIRONMENT AND PUBLIC WORKS COMMITTEE, SECRETARY VILSACK RESPONDED TO COMMENTS AND QUESTIONS ABOUT ETHANOL'S EFFECT ON FOOD PRICES. RESPONDING TO COMMENTS THAT GOVERNMENT INCENTIVES FOR ETHANOL PRODUCUTION SHOULD BE REDUCED, VILSACK SAID THE REDUCTION MUST BE GRADUAL. HE SAID IF YOU - QUOTE - "CREATE A CLIFF", YOU'RE GOING TO CREATE A SIGNIFICANT JOB LOSS IN RURAL AMERICA. AS CONGRESS GOES THRU THE STRUGGLES OF BUDGET NEGOTATIONS, SOME LAWMAKERS ARE TAKING A CLOSER LOOK AT ETHANOL SUBSIDIES AND TAX BREAKS LIKE VEETC. JOIN US TOMORROW ON AGDAY, AS MICHELLE CONTINUES HER LOOK AT THE ETHANOL INDUSTRY.

PORK:
PORK PRODUCERS WILL BE WATCHING CORN PRICES CLOSELY.  ESPECIALLY AS PRICES HOLD OVER ONE HUNDRED DOLLARS PER HUNDRED. LAST WEEK LEAN HOG FUTURES TRADED AT RECORD LEVELS--JUST OVER 104. PART OF THE PORK RALLY PUZZLE IS GLOBAL EXPORTS
USDA SAYS EXPORTS ARE UP NEARLY 20 PERCENT ON THE YEAR. A NEW REPORT OUT OF PURDUE SAYS CHINA- THE WORLD LARGEST PORK PRODUCER AND CONSUMER-- WILL SEE DEMAND INCREASE 32% IN THE NEXT FOUR YEARS.

GRAY WOLVES:
WHEN CONGRESS APPROVED THOSE HIGHLY DEBATED BUDGET CUTS LAST WEEK, TACKED-ONTO THE LEGISLATION WAS A MEASURE THAT STRIPPED FEDERAL PROTECTIONS FOR WOLVES IN THE PACIFIC NORTHWEST. THAT'S THE FIRST TIME CONGRESS, INSTEAD OF SCIENTIFIC REVIEW, HAS REMOVED AN ANIMAL FROM THE ENDANGERED SPECIES LIST. CONTROL NOW FALLS BACK INTO THE STATE'S HANDS. MEANWHILE, THE U.S. FISH AND WILDLIFE SERVICE IS PROPOSING REMOVING GRAY WOLVES FROM THE ENDANGERED SPECIES LIST IN MICHIGAN, MINNESOTA AND WISCONSIN. THE AGENCY SAYS THE WOLF POPULATION HAS RECOVERED AND NO LONGER NEEDS FEDERAL PROTECTION.

CARGILL:
IN AGRIBUSINESS THIS MORNING, CARGILL REPORTED ITS LATEST QUARTERLY EARNINGS. NET EARNINGS HIT ONE POINT ONE BILLION FOR THE QUARTER--UP 23% FROM LAST YEAR. INSPITE OF VOLITILE COMMODITY MARKETS, THE AG GIANT CALLS THE RESULTS POSITIVE.
EARNINGS ACTUALLY FELL IN THE AG SERVICES SEGMENT BUT GOT A LIFT FROM ITS GRAIN MARKETING AND PRICE RISK OPERATIONS.

ANALYSIS:
BRIAN BASTING

IN THE COUNTRY; SCHOOL VISIT:
IF YOU CAN'T BRING KIDS TO THE FARM, HOW ABOUT BRINGING THE FARM TO THE KIDS. THAT'S WHAT THE HENDRICKS COUNTY, INDIANA FARM BUREAU DID RECENTLY. MIKE ANTHONY FROM THE FARM BUREAU HAS DETAILS. THANKS MIKE...IT'S GREAT TO HAVE YOU BACK AS A CONTRIBUTOR. STILL TO COME U.S. EGG FARMERS OFFER THEIR PULLET BULLETS TO FEED THE HUNGRY. FOOD AND YOUR FAMILY IS NEXT.

EGGS FOR HUNGRY:
IN FOOD AND YOUR FAMILY ACCORDING TO USDA ONE IN SIX AMERICANS LIVE IN A FOOD INSECURE HOUSEHOLD. TO HELP, U.S. EGG PRODUCERS ARE TAKING A STAND. THEY'RE DONATING MILLIONS OF FRESH EGGS TO FEED THE HUNGRY. THE UNITED EGG PRODUCERS AND ITS MEMBERS ARE DONATING MORE THAN 11 MILLION EGGS TO FOOD BANKS ACROSS THE NATION FOR EASTER. THIS IS THE FOURTH YEAR IN A ROW THE GROUP HAS WORKED WITH "FEEDING AMERICA" TO PROVIDE THE FRESH PROTEIN RICH EGGS TO HUNGRY FOLKS THROUGH LOCAL FOOD BANKS. FEEDING AMERICA PROVIDES FOOD FOR NEARLY SIX MILLIION AMERICANS EVERY WEEK.

LARD SPLURGE:
AND FOR THOSE LOOKING TO EAT HEALTHY FOODS...LIKE EGGS, A NEW STUDY SAYS IT’S OKAY TO SPLURGE EVERY NOW AND THEN. IN FACT IT MAY SAVE YOUR LIFE. ACCORDING TO THE STUDY FROM RESEARCHERS AT THE UNIVERISTY OF CINICNNATI, SHORT TERM BINGES OF HIGH FAT FOODS MAY ACTUALLY PROTECT YOUR HEART IN THE EVENT OF HEART ATTACK. IN A STUDY OF MICE, THE RESEARCHERS FOUND THESE SHORT HIGH FAT BURSTS OVER A DAY OR WEEK'S TIME PROVIDED 70% MORE HEART TISSUE PROTECTION THAN A HIGH FAT DIET LASTING SIX WEEKS.  CHONIC FATTY FEEDING--OF SIX WEEKS OR MORE, SHOWED MORE DAMAGE TO THE HEART IN THE EVENT OF A HEART ATTACK.

CONTACT PAGE:
WE'D LOVE TO HEAR FROM YOU! CONTACT US AT 800-792-4329. OR DROP AN EMAIL TO INBOX@AGDAY.COM . YOU CAN ALSO CHECK US OUT ON SOME OF THAT NEW TECHNOLOGY, AT WWW.FACEBOOK.COM/AGDAY .
 

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