Good morning I’m Clinton Griffiths. Cotton prices are coming off a volatile week following jockeying between traders after China, the world's largest cotton buyer, cut interest rates.
As that cotton grows, farmers will keep a close eye on pests. For years, the battle was against the Boll Weevil, cotton's number one pest. Now that it's been controlled, the new problem is the tarnished plant bug. In this report from the Arkansas Farm Bureau, Ken Moore says growers are facing the largest outbreak in years.
Pests aren't the only concern on cotton grower's minds. Places in the south need rain to keep plants producing. Meteorologist Cindi Clawson has details in this morning's crop watch.
Higher feed costs and lower milk prices aren't a good combination for dairy producers and processors. Representatives of the dairy producers of New Mexico say at least 5 New Mexico dairies have closed their doors recently. And a Salt Lake City, Utah milk processing plant is closing. Darigold Incorporated says increased competition and rising costs are to blame. "We need a whole lot more policy that looks into that world market and I don't believe we're stepping away from old policy. You know 50 years ago we weren't marketing in the world and maybe we needed some policy..., but today changes have become so dynamic in the world markets and we need to be looking at those and our policy doesn't address those."
It appears there's now a vaccine for a fatal and highly contagious disease in cattle. The AG Department has issued a conditional vaccine license to treat Foot and Mouth Disease. The license has been issued to Gen-Vec Incorporated and is available for US AG officials to use if a FMD emergency should occur.
The company that tried to open a horse slaughter plant in southern Missouri is at it again. Unified Equine tried to open a plant in Mountain Grove, Missouri in March, but after backlash from the community, it was unsuccessful. The new targeted location is less than one hundred miles south of Kansas City in Rockville. Representatives of Unified Equine, say the new horse operation is planned to be open by the end of summer and would create 50 jobs.
In Agribusiness today - oil stocks suffered its longest weekly losing streak since 1998 last week. Stocks reportedly fell due to concerns over an economic slowdown in the US and Europe, in turn, hurting fuel demand.
Pfizer Incorporated is making some changes to its Animal Healthcare division. The company plans to make it a stand-alone company. Pfizer says preparations are underway for a potential initial public offering of a minority ownership stake. If everything falls into place, start-date for the new company is July 2013 and would be named - Zoetis. Zoetis has its roots in Zo, like in zoo or zoology.
Texas is known for its beef-herd. But there's much more than beef in the lone-star state, such as camel. It may be an odd sight when you drive by the farm to see the desert dwellers. But as Nathan Smith tells us in this report from the Texas Farm Bureau, the Texas weather makes the camels feel right at home. And here's a camel fact for your Monday morning-- camels can drink 40 gallons of water in just one sitting, but they don't store it in their hump like most people think.
FOOD AND YOUR FAMILY:
In food and your family, if you're looking for ways to quit smoking, you may want to drop the patch and pick up more fruits and vegetables. Speaking of vegetables, Bayer Cropscience is growing its vegetable research. That’s all the time we have this morning. We're glad you tuned in.