AgDay Daily Recap - February 7, 2012

February 8, 2012 06:25 AM
 

TODAY ON AGDAY
FEBRUARY 7, 2012

2012 OUTLOOK ROOK:
Net farm income in the U.S. hit a record of 109-million dollars in 2011. It was due in large part to the record highs hit in corn, beans, cattle and hogs. So what is the outlook for the New Year? Can we beat 2012 especially if the U.S. and global economies start turning around? We have team coverage of this important issue and we begin with AgDay regional reporter Michelle Rook.

TPS OUTLOOK:
Thanks, Michelle. The economic outlook isn't all positive when looking through the eyes of some economists. Ag day's Tyne Morgan is here to tell us why. Thanks, Clinton. We visited with both economists and producers at the Top Producer Seminar in Chicago. While there are mixed views for 2012, for some, it's a year of caution. Malanga thinks U.S. growers have been optimistic, and rightfully so when looking at strong global demand. He thinks this has caused growers to justify paying high land prices. But he says it's time to stop and think twice. Overall, Malanga says it will be a rollercoaster ride for commodity prices in 2012, but mostly on the downward slope. What were the farmers at top producer seminar saying? Spoke with a few. They said although it can get muddy when listening to so many opposing views, in 2012 their focus is managing margins, as well as focusing on risk management. Thanks Tyne.

DTR MILC CONTRACTS:
In news from our partners at Dairy Today - there's a possibility that milk income loss contract payments could re-start in March. According to dairy today, the last time dairy producers received a payment was in April 2010. The National Milk Producers Federation estimated last month that the March payment could be seven cents per hundredweight. NMPF will recalculate its estimate this Friday, using current futures prices. The California Milk Producers Council says dairy producers have until February 14th to sign-up, using March as their "start month."

DTR CHECKOFF:
Do you find value in the Beef Check-off program? The Cattlemen's Beef Board recently commissioned a survey to gauge producer attitudes. More than 1,600 beef and dairy producers were surveyed in December and January. The survey shows wide support of how the check-off money is used. But what may be more interesting is the pricing. More than half of those surveyed said they would support raising it from the current dollar a head to a $1.50 per head. If you would like to take a closer look at the results of the beef check-off survey, go to www.dairytoday.com.

ANALYSIS:
Bob Utterback

IN THE COUNTRY; 4H EXCHANGE STUDENT:
A city kid from halfway around the world is getting the full experience of farm life. The youngster is an exchange student from South Korea. And he's spending several months in Tennessee. In this report from UT, Chuck Denney says the student is getting an American adventure... in the show ring. Jun plans to return to the U.S. to attend college and hopes to be an engineer someday. Food and Your Family is next.

EGG RECALL:
A Minnesota-based food company is recalling more than one million hard cooked eggs after concerns over listeria. But you won't necessarily find them on the shelf at the store.
These eggs were sold to food distributors and manufacturers. The recall now covers more than 30 states. The FDA says the eggs were produced in Wakefield, Nebraska and then put into 15,000 pails with a brine solution. Lab testing showed some of the eggs were contaminated with listeria bacteria. Michael Foods says it's taking corrective steps.  The eggs are sold under six brand names; Columbia Valley Farms, GFS, Glenview Farms, Papetti's, Silverbrook, and Wholesome Farms.

FAT GENES:
It may not be your pants, but it might be your genes making you fat. That's what a new study from Penn State says. Its shows a person's preference for fatty foods may be genetic. Researchers found people with a certain type of gene seemed to prefer high-fat foods. This study came out in the journal obesity. After several taste tests, scientists found about 21% of their tested population had the fat preference gene.

CONTACT:
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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