AgDay Daily Recap - January 26, 2011

January 26, 2011 07:36 AM
 

TODAY ON AGDAY:
JANUARY 26, 2011

COTTON SOARS:
GOOD MORNING. WE BEGIN WITH A CLOSER LOOK AT TWO KEY CROPS IN SOUTHERN AGRICULTURE - - PEANUTS AND COTTON. COTTON FUTURES SOARED AGAIN TUESDAY ON SPECULATION THAT GLOBAL SUPPLIES CAN'T KEEP PACE WITH CHINA'S DEMAND. COTTON CLOSED AT A HUNDRED-63 CENTS A POUND, DOWN FROM THE ONE-67 IT HIT EARLIER IN THE DAY. WE'VE BEEN WATCHING CLOSELY AS COTTON PRICES HAVE MORE THAN DOUBLED IN THE PAST YEAR. MUCH OF THE INCREASE IS DUE TO CHINA IMPORTS, WHICH SURGED 86% IN 2010...AFTER WEATHER HURT DOMESTIC PRODUCTION THERE.

SOUTHERN GROWER:
WITH THE CURRENT MARKET PRICES OF COTTON, SOME SOUTHERN GROWERS MAY BE TAKING A SECOND LOOK AT THE CROP. SOME PEANUT GROWERS MAY DECIDE TO PARK THE PEANUT PLANTER THIS YEAR.

GA PEANUT SHOW:
THAT WAS A DISCUSSION SOME FARMERS HAD LAST WEEK AT THE GEORGIA PEANUT FARM SHOW IN ALBANY, GEORGIA THE GEORIGA PEANUT COMMISSION WEBSITE SHOWS THAT NEARLY HALF OF ALL PEANUTS PRODUCED IN THIS COUNTRY COME FROM GEORGIA. AS WE'VE REPORTED, USDA IS FORECASTING AN ADDITIONAL 2.5 MILLION ACRES OF COTTON WILL BE PLANTED THIS SPRING. THE QUESTION IS HOW MANY ACRES WILL COTTON TAKE FROM PEANUTS WHICH IS ALREADY STRUGGLING TO MEET DEMAND.

PRO FARMER ROGER:
THE PRESIDENT'S STATE OF THE UNION ADDRESS TYPICALLY IS USED TO SET THE AGENDA FOR THE ADMINISTRATION. IN THIS CASE, IT APPEARS THE PRESIDENT WILL FOCUS ON NEW GOVERNMENT SPENDING ON INFRASTRUCTURE, EDUCATION AND RESEARCH AS A WAY TO GET MORE AMERICANS WORKING. WITH THE SPEECH NOW IN THE HISTORY BOOKS, THE IMPORTANT PART OF THE DEBATE LIES AHEAD. PRO FARMER WASHINGTON EDITOR ROGER BERNARD GIVES US HIS PERPSECTIVE.

MACHINERY MINUTE FENDT:
IN MACHINERY MINUTE, 'FENDT' HAS BUILT ITS REPUTATION ON HIGH-HORSEPOWER, HIGH-TECH TRACTORS. IT'S ONE OF THE AGCO BRANDS. DURING AG-CONNECT EXPO, FENDT UNVEILED ITS 800 SERIES IN NORTH AMERICA. FARM JOURNAL MACHINERY EDITOR MARGY FISCHER TAKES A LOOK AT SOME OF THE KEY EQUIPMENT. MARGY SAYS PRODUCERS CAN START ORDERING FENDT TRACTORS THIS SPRING.

DUPONT EARNINGS:
IN AGRIBUSINESS, DUPONT REPORTED NET INCOME OF 376 MILLION DOLLARS FOR THE FISCAL QUARTER. THAT'S DOWN FROM 441-MILLION A YEAR EARLIER, AT THE SAME TIME, THE PARENT COMPANY OF PIONEER HI-BRED BOOSTED ITS PER-SHARE EARNINGS BY 15-CENTS. DUPONT SAYS ITS AGRICULTURE SEGMENT PLAYED A BIG PART IN THAT, AS IT GAINED SOME SHARE IN THE U.S. SEED MARKET. EARLIER THIS MONTH, DUPONT AGREED TO ACQUIRE DENMARK'S DANISCO FOR 5.8 BILLION DOLLARS, MOVING TO BOLSTER ITS POSITION IN BIOTECHNOLOGY AND NUTRITION.

ANALYSIS INTRO:
IN ANALYSIS, WE RETURN TO THE 2011 GEORGIA PEANUT FARM SHOW HELD LAST WEEK. CURRENT MARKET PRICES ARE ABOUT 550 DOLLARS A TON. AGRIBUSINESS DIRECTOR AL PELL TAKES US TO ALBANY GEORGIA WHERE THEY DISCUSS THE OUTLOOK FOR PEANUT GROWERS.

ANALYSIS:
TYRON SPEARMAN

TPOY:
THERE ARE A LOT OF FARMING OPERATIONS IN THIS COUNTRY, BOTH BIG AND SMALL...IT’S A DYNAMIC WE'RE WELL AWARE OF. EACH YEAR, OUR PARTNERS AT TOP PRODUCER MAGAZINE COMB THROUGH THE BIG PRODUCER PILE IN ORDER TO SELECT THEIR TOP PRODUCER OF THE YEAR. OVER THE NEXT THREE NEXT DAYS, WE'LL PROFILE THE THREE FINALISTS FOR THIS PRESTIGOUS AWARD. TONIGHT WE BEGIN IN NORTHEAST INDIANA WITH JIM KLINE AND KLINE FAMILY FARMS. IS IT MEAT, OR NOT? A POPULAR FAST FOOD CHAIN GETS TAKEN TO COURT OVER ITS PRODUCT LABELING. DETAILS NEXT IN FOOD AND YOUR FAMILY.

CARGILL FOOD SAFETY:
IN FOOD AND YOUR FAMILY KANSAS STATE UNIVERSITY AND CARGILL ANNOUNCED A PARTNERSHIP THAT WILL ADDRESS CURRENT FOOD AND FEED-SAFETY ISSUES IN THIS COUNTRY. CARGILL PLEDGED A HALF MILLION DOLLAR GRANT TO GO TOWARD CONSTRUCTION OF THE CARGILL CENTER FOR FEED SAFETY RESEARCH. K-STATE SAYS THE LABS WILL FOCUS ON RESEARCH INVOLVING SALMONELLA, E-COLI AND OTHER PATHOGENS THAT ARE TRANSMITTED THRU ANIMAL FEED. THE PARTNERS HOPE TO HAVE THE FACILITY OPERATIONAL BY LATE 2012.

TACO BELL:
AND TACO BELL IS HEADING FOR THE COURTROOM AFTER A NEW LAWSUIT AIMS TO TAKE THE FAST FOOD GIANT TO TASK FOR ITS PRODUCT LABELING. THE SUIT SAYS WHAT TACO BELL IS CALLING BEEF SIMPLY ISN'T ACCURATE. THE ATTORNEY'S THAT FILED THE SUIT, SAY TACO BELL'S GROUND BEEF OR SEASONED BEEF, IS MADE FROM WATER, ISOLATED OAT PRODUCT, WHEAT OATS, SOY, YEAST EXTRACT AND CORN STARCH..ONLY 35% OF THE MIXTURE WAS SOLID AND JUST 15% IS PROTEIN. THE FALSE ADVERTISING SUIT WAS FILED IN FEDERAL COURT, BY A WOMAN IN CALIFORNIA. AND IT ASKS FOR NO MONEY OR COMPENSATION. TACO BELL TOLD A LOCAL TELEVISION STATION THAT IT DENY'S THEIR ADVERTISING IS MISLEADING IN ANY WAY AND INTENDS TO VIGOROUSLY DEFEND THE SUIT.

CONTACT PAGE:
OF COURSE YOU CAN ALWAYS SEND US YOUR THOUGHT. CALL US, OR SEND AN EMAIL...JUST A HEADS UP THE ADDRESS HAS CHANGED. IT'S NOW INBOX@AGDAY.COM .
 


 

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