TODAY ON AGDAY:
April 8, 2011
Good morning. Commodity markets expect some guidance this morning, on how U.S. grain supplies stack up against global demand. The USDA is releasing its April supply demand report today. The report due out later this morning will give a better picture of what current supply and demand figures are for U.S. corn. Last week's USDA reports indicated an end of the year carryover of 675 million bushels. Experts say that's dramatically short...and they think this report could put it even lower. However, our partners at pro-farmer say that number may actually be higher as prices force demand to pull back. Also included in this report...information on ethanol co products. This is in response to complaints that supply demand reports don't truly reflect the impact these co-products have on the feed industry.
USDA SHUT DOWN PLAN
The USDA also says its preparing for a potential government shutdown. A budget stalemate on capitol hill has law makers inching ever closer to freezing federal funds.
That raised questions about food safety inspections and import duties. The USDA says its prepared a plan and most USDA employees would be furloughed. However certain activities must continue including: meat poultry and egg inspections. Grain or commodity inspections, import and export activities, forest fire fighting and forest law enforcement.
Most other managerial activities including farm program payments would not continue during a shut down.
Cattle prices are good...in fact they're eye popping in many situations. And analysts are beginning to talk about a prolonged peak in the cycle due to low populations. But feed prices are high. Cattle feeders are doing everything they can to keep profits up. In this report from the American angus association, new research shows sorting cattle during feed out can help keep profits in producer pockets. Thanks for that report. And a quick correction. The cattle on feed report comes out on Thursday, April 21st...not today.
Count on us for complete coverage and analysis of the USDA numbers.
From feedlots to field work, meteorologist Cindi Clawson joins us again this morning, she's in for Mike Hoffman. She has today's crop watch. Good morning Cindi. Good morning to you Clinton, Growers in east central iowa are getting ready for a big year.
One producer told our partners at AgWeb, many farmers are applying fertilizer in preparation for spring planting. In a few places oats are going in. Field work came a long way in just a few days. And in Horry county South Carolina, tobacco growers are "setting" plants thanks to good ground moisture. Setting involves transplanting container-grown starter plants. Those early setting growers are hoping the cold weather is over.
Tobacco doesn't do well in cool wet soils. The grower says, fingers crossed warmer weather is here to stay.
In agribusiness this morning, grain sorghum producers showed a vote of confidence in their check-off. The USDA says the February referendum vote has been tallied and the united sorghum check-off program will remain in operation. Leaders call it great news.
In recent years check-off dollars have been spent on research to make the crop more profitable.
And in analysis this morning, Agribusiness Director Lindsay Hill and Gary Wilhelmi review the latest export numbers and give us a preview of this morning's supply demand report.
ITC: PLANTER REVEAL
Up north farmers are aching for soils to warm up, down south planters are already running. For one farm family this spring, using their old planter will be an all new experience. Recently at commodity classic, the winner of farm journal's fresh start give away saw how the experts rehabbed an old family friend. Agribusiness Director Lindsay Hill is back with our story. Thanks Lindsay. With spring grilling season knocking on the door, the beef business says its developing new cuts that are sure to sizzle. Food and your family is next.
In food and your family the beef industry spends a lot on its national check-off. It's a program designed to do everything from advertising to product development. This morning Sharon Alseth of the check-off, shows us how the organization is creating beef innovations in hopes of feeding consumer demand. Thanks Sharon. Looks like it’s time to get the grill out. That's all we have cooked up this morning. Thanks for tuning in.