AgDay Daily Recap - December 17, 2010

December 17, 2010 05:03 AM
 

TODAY ON AGDAY:
DECEMBER 17, 2010

CFTC SPEC TRADING:
A FEDERAL PANEL THAT OVERSEES TRADING OF COMMODITIES IS A STEP CLOSER TO INSTITUTING CHANGES THAT WOULD RESTRICT SPECULATIVE TRADING. FOR MORE THAN A YEAR, THE COMMODITY FUTURES TRADING COMMISSION HAS BEEN INVESTIGATING THE IMPACT THAT SPEC-TRADING HAS ON COMMODITIES SUCH AS OIL, GOLD AND GRAINS. IN A REPORT FROM BLOOMBERG, FOUR OF FIVE MEMBERS OF CFTC SAID THEY WILL VOTE IN FAVOR OF A TWO-PART PROPOSAL THAT WOULD RESTRICT THE NUMBER OF CONTRACTS ONE FIRM CAN HOLD. THE PROPOSED RULE COVERS 28 COMMODITIES, MOST OF WHICH ARE BASED IN AGRICULTURE.  THOSE INCLUDE CORN, SOYBEANS, WHEAT, CATTLE, COTTON, AND MANY OTHERS. THE FINANCIAL OVERHAUL GIVES CFTC UNTIL JANUARY TO REIN-IN SPECULATION IN ENERGY AND METALS MARKETS. THE COMMISSION HAS UNTIL APRIL TO MAKE CHANGES TO AGRICULTURAL COMMODITIES.

CHINA BEEF:
IT APPEARS CHINA IS READY TO RE-START NEGOTIATIONS THAT WILL ALLOW U.S. BEEF IN THEIR BORDERS. THE AG DEPARTMENT SAYS THIS AGREEMENT IS PART OF WIDE-RANGING TRADE TALKS HELD IN WASHINGTON THIS WEEK. CHINA, AND OTHER ASIAN NATIONS, HAVE BEEN RESTRICTING U.S. BEEF IMPORTS SINCE THE OUTBREAK OF BSE IN 2003. EARLIER THIS SUMMER, CHINA ALLOWED THE RESUMPTION OF BEEF PURCHASES FROM CANADA. THE U.S. BEEF INDUSTRY IS CONCERNED CANADA PRODUCERS WOULD GET A FOOTHOLD ON THAT MARKET. ACCORDING TO AG SECRETARY TOM VILSACK, THE TWO SIDES WILL RETURN TO THE NEGOTIATING TABLE ON BEEF TRADE. IN A STATEMENT FROM HIS OFFICE, VILSACK SAID "TECHNICAL TALKS WILL RESUME AS SOON AS POSSIBLE WITH THE GOAL OF RE-OPENING CHINA'S MARKET IN EARLY 2011."

SUNFLOWERS IN SNOW:
WINTER HAS ARRIVED IN NORTH DAKOTA, BUT THE SUNFLOWER HARVEST CONTINUES. SOME FARMERS ARE RUNNING THEIR COMBINES LATE INTO THE SEASON TO CUT WHAT REMAINS OF THIS YEARS' CROP. CLIFF NAYLOR FROM AFFILIATE KFYR IN BISMARCK, NORTH DAKOTA SAYS PRODUCERS ARE TRYING TO FINISH BEFORE THE SNOW DRIFTS GET ANY DEEPER. ACCORDING TO THE NATIONAL SUNFLOWER ASSOCIATION, NEARLY 1.9 MILLION ACRES OF SUNFLOWERS WERE HARVESTED THIS YEAR. ABOUT HALF OF THOSE ACRES ARE IN NORTH DAKOTA.

STATE BY STATE:
HERE ARE SOME OTHER FARM-STATE HEADLINES. IN NORTH DAKOTA, A CATTLE PROCESSOR IS MAKING PLANS TO OPEN A NEW MAJOR BEEF PROCESSING CENTER THAT WILL HANDLE 12-HUNDRED HEAD A DAY. ACCORDING TO OUR AFFILIATE IN BISMARCK, THE KIM AND PRICE CORPORATION IS TAKING INITIAL STEPS TO BUILD THE FACILITY, THOUGH NO SITE HAS BEEN SELECTED. THE COMPANY SAYS MOST OF THE SPECIALTY CUTS OF MEAT WILL BE SENT TO SOUTH KOREA. IF ALL GOES AS PLANNED, THE FACILITY WOULD BE OPENED IN EARLY 2012. IN MONTANA, USDA'S WILDLIFE SERVICE SAYS THERE'S BEEN A DRAMATIC INCREASE IN THE NUMBER OF LIVESTOCK KILLED BY PREDATORS OTHER THAN WOLVES. THE GREAT-FALLS TRIBUNE SAYS GRIZZLY BEARS, BLACK BEARS, MOUNTAIN LIONS AND COYOTES ARE ATTACKING HERDS.  THE DIRECTOR OF THE BUREAU SAYS THE TIME SPENT ON WOLVES, LIMITS THE TIME AND WAYS THAT OFFICIALS CAN DEAL WITH OTHER LARGE PREDATORS. IN A FIVE YEAR PERIOD, THE NUMBER OF CALVES KILLED BY COYOTES JUMPED FROM ABOUT A HUNDRED TO MORE THAN 1,300 ATTACKS. WISCONSIN'S DAIRY HERD IS GETTING SMALLER...QUICKLY. BROWNFIELD AG NEWS SAYS THERE ARE 154 FEWER DAIRY HERDS THAN THREE MONTHS AGO. IN THE PAST YEAR, 500 HAVE GONE OUT OF BUSINESS. THAT BRINGS THE TOTAL NUMBER IN WISCONSIN TO 12,400.

ANALYSIS:
GARY WILHELMI

IN THE COUNTRY; HERITAGE GIFTS:
THERE WAS A TIME IN OUR NOT-TOO-DISTANT PAST, WHEN CHRISTMAS PRESENTS WERE FAR FROM STORE-BOUGHT. SOME CRAFT MAKERS FROM THE VOLUNTEER STATE ARE MAKING A NUMBER OF GIFTS AND DECORATIONS BY HAND THIS SEASON. IN THIS REPORT FROM THE UNIVERSITY OF TENNESSEE, CHUCK DENNEY SAYS IT'S IMPORTANT OT PRESERVE THESE HERITAGE SKILLS DURING THE HOLIDAYS . . . AND ALL YEAR 'ROUND. CHUCK SAYS THE HERITAGE SKILLS SEMINAR ALSO INCLUDED A SERVICE PROJECT WHERE PARTICIPANTS MADE PILLOWS FOR BREAST-CANCER PATIENTS IN AREA HOSPITALS. NEXT FRIDAY, CHUCK WILL HAVE A STORY ABOUT 4-H'ERS USING THEIR SEWING SKILLS TO MAKE THE SEASON A BIT BRIGHTER FOR CHILDREN IN NEED. IT'S PART OF A SPECIAL HOLIDAY PROGRAM WE'RE PUTTING TOGETHER CALLED "CHRISTMAS IN THE COUNTRY.” WE HOPE YOU AND THE ENTIRE FAMILY CAN JOIN US FOR THIS SPECIAL SHOW NEXT FRIDAY MORNING, CHRISTMAS EVE. STILL TO COME, FOOD AND YOUR FAMILY...AND NEW ESTIMATES ABOOT FOODBORNE ILLNESS FROM THE CDC.

FOODBORNE ILLNESS:
IN FOOD AND YOUR FAMILY THE CENTER'S FOR DISEASE CONTROL SAYS IT OVER-ESTIMATED THE NUMBER OF AMERICAN'S GETTING SICK FROM FOODBORNE ILLNESS EACH YEAR. THIS IS THE FIRST UPDATE TO THE CDC FIGURES IN MORE THAN 10 YEARS. THE NEW NUMBERS ESTIMATE THAT ONE IN SIX AMERICANS GET SICK FROM FOODBORNE PATHOGENS EACH YEAR. THAT'S DOWN FROM ONE IN FOUR. IT SAYS THE NUMBER OF PEOPLE HOSPITALIZED FROM THESE ILLNESSES IS ABOUT A THIRD OF THE PREVIOUS ESTIMATE, 128,000...DOWN FROM 375. AND IT SET THE NUMBER OF ESTIMATED ANNUAL DEATHS AT 3,000 RATHER THAN FIVE. THE CDC SAYS THE FIGURES DON'T NECESSARILY REFLECT SAFER FOOD...ONLY BETTER METHODS OF COLLECTING DATA.

ORGANIC MARKET:
AND MORE NORTH AMERICAN'S THAN EVER ARE EATING ORGANIC FOOD.  IT'S NOW THE LARGEST ORGANIC FOOD AND BEVERAGE MARKET IN THE WORLD...OVERTAKING EUROPE. THIS COMES FROM THE ORGANIC MONITOR'S ORGANIC FOOD AND DRINK MARKET REPORT. THE REPORT SAYS DESPITE THE GROWTH, THE AMOUNT OF ORGANIC FARMLAND IN NORTH AMERICA ISN'T RISING AS FAST DEMAND. THAT MEANS THERE AREN'T ENOUGH HOME-GROWN SUPPLIES TO MEET THE NEEDS OF THOSE PREFERING ORGANIC FOODS. OTHER COUNTRIES LIKE LATIN AMERICA ARE FILLING THE GAPS. SALES OF ORGANIC FOOD HAVE TRIPPLED SINCE 2000...REVENUES ARE EXPECTED TO HIT 60 MILLION DOLLARS.

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

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close