AgDay Daily Recap - July 18, 2011

July 18, 2011 05:13 AM
 

TODAY ON AGDAY:
JULY 18, 2011

SOYBEAN FTA:
GOOD MORNING EVERYONE. CLINTON GRIFFITHS IS OFF TODAY. TOPPING OUR NEWS, WHILE MUCH OF WASHINGTON IS FIXATED ON THE DEBATE OVER THIS NATION'S DEBT, OFFICIALS FROM THREE COUNTRIES WARN CONGRESS THAT THE U.S. IS IN JEOPARDY OF LOSING MARKET SHARE IF TRADE DEALS ARE NOT COMPLETED WITH COLOMBIA, KOREA, AND PANAMA. THE AMERICAN SOYBEAN ASSOCIATION HOSTED A RECEPTION FOR AMBASSADORS OF THE THREE COUNTRIES WHICH FREE-TRADE AGREEMENTS ARE NOT YET APPROVED BY CONGRESS. ASA SAYS IT'S A WAY TO RECOGNIZE THE AMBASSADORS AND THEIR STAFF FOR THEIR WORK TO GET THE FTA'S PASSED. AG SECRETARY TOM VILSACK SAID LAST WEEK HE'S HOPING THE TRADE DEALS ARE COMPLETED BEFORE CONGRESS TAKES A RECESS IN EARLY AUGUST. THE AMBASSADORS AGREE. THE TRADE DEALS APPEAR CLOSE FOR PASSAGE BY CONGRESS. BUT LAST WEEK, THE DEMOCRAT-CONTROLLED SENATE FAILED TO MOVE THE MEASURE OUT OF COMMITTEE. FINANCE COMMITTEE CHAIRMAN MAX BAUCUS SAYS HE WILL NOT PUSH FOR THE FTA'S UNLESS THEY INCLUDE A 'TRADE ADJUSTMENT ACT'. THE TAA WOULD GIVE JOB TRAINING AND FINANCIAL AID TO U.S. WORKERS AFFECTED BY FOREIGN TRADE. THE TAA IS WIDELY SUPPORTED BY LABOR UNIONS.

PORK EXPORTS:
WHILE THOSE TRADE DEALS LINGER, THERE IS GOOD NEWS ON EXPORTS FROM THE MEAT SECTOR. THE U.S. MEAT EXPORT FEDERATION SAYS OVERALL PORK EXPORTS IN MAY JUMPED ELEVEN PERCENT FROM THE PREVIOUS YEAR. YEAR TO DATE, THEY'RE UP 16% EXPORTS TO KOREA HAVE MORE THAN DOUBLED IN VOLUME. USMEF SAYS EXPORTS TO THAT COUNTRY HAVE ALREADY SURPASSED THE TOTAL AMOUNT OF PORK SHIPPED TO KOREA IN ALL OF 2010.

BEEF EXPORTS:
ON THE BEEF SIDE OF THE LEDGER, USMEF SAYS MAY BEEF EXPORTS ARE 21% HIGHER IN VOLUME AND 30% HIGHER IN VALUE THAN A YEAR AGO. IT WAS THE SECOND-STRONGEST MONTH OF 2011. FOR THE YEAR, BEEF EXPORTS ARE 28-PERCENT HIGHER THAN A YEAR AGO.

BEEF CHECKOFF:
OVER THE PAST TWO DECADES, EXPORTS HAVE BECOME INCREASINGLY IMPORTANT TO THE ECONOMIC PICTURE FOR U-S PORK AND BEEF PRODUCERS. IN 2010, U.S. BEEF EXPORTS REACHED A VALUE OF MORE THAN FOUR BILLION DOLLARS. IN THIS UPDATE FROM THE BEEF CHECKOFF, BRIAN BAXTER TELLS US ABOUT CONTINUING EFFORTS TO GROW BEEF EXPORTS IN ASIA.

GLOBAL MILK CONSUMPTION:
MEANWHILE GROWING ECONOMIES IN CHINA AND INDIA ARE ALSO PUTTING DEMAND ON U.S. MILK PRODUCTION - AND COULD FOR SOME TIME TO COME. THAT FORECAST COMES FROM A COMPANY CALLED TETRA-PAK, WHICH SPECIALIZES IN PACKAGING AND CARTONS USED BY THE DAIRY INDUSTRY. THE SWISS FIRM SAYS INDIA AND CHINA WILL STEER GLOBAL CONSUMPTION OF LIQUID DAIRY PRODUCTS BY AS MUCH AS 30-PERCENT IN THE NEXT TEN YEARS. THE COMPANY SAYS RISING PROSPERITY IN THOSE COUNTRIES MEANS CONSUMERS WANT GREATER CONVENIENCE. TETRA-PAK IS EXPECTING LONG SHELF-LIFE MILK IN CARTONS WILL SEE STRONG GROWTH.

WHEAT STRAW:
ONCE WINTER WHEAT IS CUT IN THE MIDWEST, SOME PRODUCERS REMOVE THE STRAW FROM THE FIELDS AND BALE IT FOR THEIR LIVESTOCK. BUT BY REMOVING THE WHEAT STOVER, YOU'RE ALSO REMOVING NUTRIENTS FROM THE SOIL. IN THIS REPORT FROM THE UNIVERSITY OF ILLINOIS, TODD GLEASON TELLS US ABOUT THE RISK OF REMOVAL.

ANALYSIS:
GARY WILHELMI

IN THE COUNTRY; TURKEY BLESSING:
PET OWNERS ENJOY THE COMPANIONSHIP THAT CATS AND DOGS BRING US. AND WITH THE WAY SOME OWNERS SPOIL THEIR PETS, THOSE ANIMALS HAVE A LOT TO BE THANKFUL FOR. WELL, THE FEATHERED-PET OF A FAMILY IN NORTHWEST IOWA CAN COUNT ITS BLESSINGS. AND WE MEAN THAT LITERALLY. AL JOENS FROM AGDAY AFFILIATE KTIV-TV TELLS US WHY. THANKS AL. FOOD COMMERCIALS MAYBE CHANGING, ESPECIALLY WHEN IT COMES TO KID FOODS. THAT STORY IS NEXT.

KID FOOD MARKETING:
RESPONDING TO PUBLIC PRESSURE, SEVERAL MAJOR FOODMAKERS HAVE VOWED TO CHANGE THEIR MARKETING PRACTICES WHEN IT COMES TO KIDS. DETAILS IN FOOD AND YOUR FAMILY. A COALITION OF THE NATION'S LARGEST FOOD MAKERS UNVEILED A PLAN TO SET NEW NUTRITION STANDARDS FOR FOODS THAT CAN BE ADVERTISED TO CHILDREN. COMPANIES INCLUDE CON-AGRA, GENERAL MILLS AND KELLOGGS. THE STANDARDS THEY'VE DEVELOPED INCLUDE REDUCING SUGAR, SALT, CALORIES AND TRANS FAT AND SATURATED FAT. THE COALITION SAYS THEIR FOOD PRODUCTS MUST MEET THE NEW STANDARDS BY THE END OF 2012, OR THEY CAN'T BE ADVERTISED TO KIDS.

OJ PRICES:
IF YOU ENJOY A BIG GLASS OF ORANGE JUICE WITH BREAKFAST, YOU BETTER GET READY TO PAY MORE. BLOOMBERG IS REPORTING THAT U.S. CONSUMERS ARE POISED TO PAY THE MOST EVER FOR THEIR BREAKFAST ORANGE JUICE AS INVENTORIES DWINDLE. CITRUS GROWERS FACED SEVERAL WEATHER CHALLENGES THIS YEAR, ESPECIALLY THE RECORD COLD BLAST THAT HIT DURING THE WINTER MONTHS. USDA FORECASTED LAST WEEK THAT THE FLORIDA ALL-ORANGE HARVEST WILL BE 139 MILLION BOXES. THAT'S DOWN A PERCENT FROM THE JUNE REPORT. A LOT OF JUICE IN THIS COUNTRY COMES FROM BRAZILIAN ORANGES, WHICH ALSO HAD A SMALLER CROP THIS YEAR. FOR PRODUCERS, ON-FARM PRICES REMAIN STRONG.

CONTACT PAGE:
DON'T FORGET, WE'D LIKE TO HEAR FROM YOU ABOUT OUR SHOW. THE CONTACT INFO IS ON THE SCREEN.
 

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