AgDay Daily Recap - February 22, 2011

February 22, 2011 03:27 AM
 

TODAY ON AGDAY:
FEBRUARY 22, 2011

CR AMENDMENTS:
MONDAY WAS A HOLIDAY - GOVERNMENT OFFICES, THE MARKETS AND MOST SCHOOLS WERE CLOSED ACROSS THE COUNTRY. BUT A LOT OF WORK HAPPENED DURING THE WEE-HOURS OF SATURDAY MORNING. SOME OF THAT WORK THAT TAKES AIM AT THE ENVIRONMENTAL PROTECTION AGENCY. A GIANT GOVERNMENT-WIDE SPENDING BILL PASSED THE HOUSE, WHICH INCLUDED 60-BILLION DOLLARS IN SPENDING CUTS. THE REPUBLICAN-CONTROLLED HOUSE APPROVED AN AMENDMENT THAT WOULD PREVENT EPA FROM REGULATING AGRICULTURAL DUST. IT ALSO APPROVED AMENDMENTS THAT WOULD BLOCK THE IMPLEMENTATION OF A HIGHER BLEND OF CORN-BASED ETHANOL. THE HOUSE ALSO VOTED TO ELIMINATE FUNDING FROM EPA IN ITS EFFORTS TO PLACE NUTRIENT LIMITS IN THE CHESAPEAKE BAY WATERSHED. THE DEBATE NOW MOVES TO THE SENATE WHERE LEADERS OF THE DEMOCRAT-CONTROLLED SENATE SAY THE HOUSE CUTS ARE TOO DEEP.

PA CHESAPEAKE DIET:
AGRICULTURE IS WATCHING DEBATE OVER THE CHESAPEAKE NUTRIET DIET CLOSELY. IN DECEMBER, EPA ANNOUNCED ITS TOTAL MAXIMUM DAILY LOAD - OR NUTRIENT DIET. IT CALLS FOR A 25% REDUCTION IN NITROGEN, 24% IN PHOSOPHOROUS, AND 20% IN SEDIMENT THAT FLOW FROM THE SIX STATES BY THE YEAR 2025. SINCE THAT ANNOUNCEMENT, THE AMERICAN FARM BUREAU, ALONG WITH ITS STATE MEMBERSHIP IN PENNSYLVANIA, FILED SUIT AGAINST THE EPA. WITH ITS LARGE AND DIVERSE AGRICULTURAL BASE, THE REGULATIONS ARE A CONCERN TO MANY FARMERS. WES MILLS HAS OUR STORY FROM THE STATE'S LEADING DAIRY COUNTY. STATES THAT FAIL TO ACHIEVE LONG-TERM POLLUTION-REDUCTION GOALS MAY BE ORDERED TO IMPLEMENT HARSHER REGULATORY MEASURES THAN THEIR GOVERNORS OR LEGISLATURES MIGHT OTHERWISE HAVE APPROVED.

EPA ETHANOL:
THE HOUSE ALSO VOTED TO BAR EPA FROM SPENDING ANY MONEY TO CARRY OUT A WAIVER THAT WOULD ALLOW A HIGHER BLEND OF ETHANOL TO BE SOLD AT THE NATION'S FUELING STATIONS. A SECOND MEASURE WOULD BLOCK THE GOVERNMENT FROM PAYING FOR BLENDER PUMPS AT SERVICE STATIONS TO SELL GASOLINE WITH HIGHER ETHANOL CONTENT. THE EPA HAS APPROVED THE USE OF GASOLINE WITH 15% ETHANOL, OR E-15, FOR USE IN 2001 AND NEWER CARS AND TRUCKS.

FARMLAND VALUES:
IN AGRIBUSINESS, THE MARKETS WERE CLOSED MONDAY FOR PRESIDENT'S DAY, SO WE WILL NOT HAVE THE MARKET TICKER AT THE BOTTOM OF YOUR SCREEN TODAY. IN OTHER NEWS, THE PRESIDENT OF THE KANSAS CITY DISTRICT OF THE FEDERAL RESERVE BANK IS CONCERNED THAT THERE'S A BUBBLE FORMING IN THE FARM-LAND MARKET. LAST WEEK, TWO DISTRICTS OF THE FEDERAL RESERVE BANK REVEALED THE VALUE OF GOOD FARMLAND CONTINUES TO RISE. THOSE DISTRICTS COVER A LARGE PORTION OF U.S. PRODUCTION AGRICULTURE, FROM INDIANA TO COLORADO. THOMAS HOENIG IS PRESIDENT OF THE KANSAS CITY-FED. HE SAYS IT'S NOT YET CLEAR IF THE RISE IN FARMLAND VALUES IS REFLECTING FUNDAMENTALS OR SPECULATION.
HOENIG TOLD A SENATE AG COMMITTEE HEARING THAT HE'S CAUTIONING LENDERS TO BE PRUDENT WHEN MAKING FARMLAND VALUATIONS AS THE MARKET REMAINS BUOYANT. HIS OWN DISTRICT SHOWED CROP-LAND PRICES UP NEARLY 20% FROM A YEAR AGO. THAT DISTRICT INCLUDES KANSAS AND NEBRASKA. THE CHICAGO FED SHOWED MIDWEST FARMLAND VALUES UP 12%.

ANALYSIS:
GARY WILHELMI

IN THE COUNTRY; DEER SURVEY:
AT THIS TIME OF YEAR, BIOLOGISTS FROM THE DEPARTMENT OF NATURAL RESOURCES WILL OFTEN CONDUCT A DEER COUNT TO GET AN IDEA HOW MANY ARE LEFT FOLLOWING THE FALL HUNT. IN THE HAWKEYE STATE, THE DNR WILL TAKE TO THE SKY TO GAUGE THE NUMBER OF WHITE-TAILS ARE STILL IN THE WOODS. IN THIS REPORT FROM THE IOWA DNR, JOE WILKINSON SAYS THIS YEARS COUNT WILL HELP DETERMINE WHAT THE NEXT HUNTING SEASON MAY LOOK LIKE.
JOE SAYS ONCE THE NUMBERS ARE CRUNCHED, DEER SEASONS AND "EXTRA LICENSE OPPORTUNITIES" WILL BE SET IN APRIL. STILL TO COME, HOW TO MAKE A SUCCESSFUL SHOPPING TRIP FOR BUDGET-CONSCIOUS CONSUMERS. FOOD AND YOUR FAMILY IS NEXT.

LSU FOOD PRICES:
GROCERY BILLS ARE FORECAST TO RISE IN THE COMING MONTHS. SOME TIPS ON SAVING A FEW BUCKS IN THIS MORNING'S FOOD AND YOUR FAMILY. USDA SAYS FOOD PRICES WILL GO UP 2-3% THIS YEAR. ON A GLOBAL SCALE, THE UNITED NATIONS SAYS WORLD FOOD PRICES SURGED TO A NEW HISTORIC PEAK IN JANUARY, FOR THE SEVENTH STRAIGHT MONTH. BOTH AGENCIES SAY HIGHER COMMODITY PRICES AND LOW STOCKS OF STAPLE ARE PLAYING A ROLE IN THE HIGHER FOOD PRICES. ON THE CONSUMER SIDE, ECONOMISTS PREDICT SHOPPERS WILL PAY HIGHER PRICES FOR BEEF, PORK, CEREAL AND BAKERY GOODS. A FAMILY ECONOMIST FROM LOUISIANA STATE OFFERS THESE TIPS TO SHOPPERS. SOME OTHER BASIC TIPS - - SHOP ALONE, SO YOU DON'T GET HOUNDED BY THE KIDS OR YOUR SPOUSE TO BUY SOMETHING YOU REALLY DON'T NEED. ALSO, DON'T SHOP WHEN YOU'RE HUNGRY.  TUCKER ALSO SAYS STORE BRANDS TEND TO BE LESS EXPENSIVE, BUT NAME BRANDS WILL OFFER GOOD SALES. SO BE SURE TO COMPARE STICKERS.

 

 

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