TODAY ON AGDAY:
MARCH 28, 2011
AgWeb Planting Surveys
Good morning. USDA will release its highly anticipated prospective plantings report on thursday. If the pre-report guesses come true, there'll be a big corn crop this year. Our corporate cousins at www.agweb.com and farm journal conducted a survey to gauge this years planting intentions. The survey was conducted last week. The results show u-s corn acreage will increase three-point-three percent to 91-point-one million acres. Based on a trendline yield of 163 bushels an acre, the total crop would be 14-point-eight billion bushels. U-S soybean acreage is anticipated to drop nearly three-and-a-half percent, that would put the plantings at 74-point-seven million acres. Last year the U.S. Soybean yield was 43-and-a-half bushels an acre. If that yield is realized this year, it will result in a total crop of 3-and-a quarter billion bushels. Back to the agweb survey, 24-percent of the respondents said they're leaving their final acreage decisions open until it is time to start planting. The plantings report comes out Thursday at seven-30 central time. You'll be able to access those numbers on www.agweb.com
Cattle markets continue to stampede higher fueled by exports and forecasts of continued increases in cash cattle prices. April live cattle futures at the Chicago merc ended the week up nearly 2 and half at 118 dollars. May feeder cattle were up near their 3 dollar limit Friday--ending the day at a record 137 dollars per hundred. The august contract is even higher at 138 and half. These are the highest cattle futures prices since cattle futures started trading in the mid-60's.
Nebraska cold calving
In the Nebraska sandhills spring time -- is calving time. And this year, with prices at record levels, every calf successfully born and raised is worth its weight in gold. Holly carlini from affiliate KNOP of North Platte Nebraska has the story.
Ranchers are going to want every calf at today's prices. Part of the pricing support is increasing world demand for U.S. Beef. Just last week Chile opened the door to more U.S Beef products.
This after months of bilateral meetings between the two countries.
Eef shipments to South Korea are dramatically higher this year. South Korean purchases of U.S. Beef were up nearly 95 percent last year. And after just two months it looks like numbers could double again. Driving the increase is a foot and mouth disease outbreak that's caused south korea to cull more than 3 million head of livestock in the last four months.
And Taiwan is now fighting it's own FMD battle. Health workers spotted the outbreak last week and immediately slaughtered 1000 hogs in the vacinity. It also froze the transport of all cloven hoofed livestock.
Dorr China Corn
More speculation on whether china is buying U.S. Corn continues to impact futures. Eyebrows raised yet again as the USDA announced exporters sold one and quarter million metric tons to unknown buyers. Traders are pointing at China. U.S. Grains council CEO Tom Dorr says they actually expected china to wait to buy corn in may or june, but regardless they projecting china will import U.S. Corn in 2011. Dorr says they'll likely exceed their seven-and a half million ton tariff-rated quota, which allows them to import up to that amount without paying tariffs.
Here to help sort out what could be a busy week on the markets, is agribusiness director al pell and Jim Hemminger of Top Third Ag Marketing.
ITC: Horse Boarding
As temperatures slowly warm up across the country more people will start spending leisure time outdoors. --of course some of you are asking--what leisure time? For horse owners its time to take the winter blankets off and hit the trail. Lyndall stout of Oklahoma state's sunup program has some tips for those owners seeking a new home for their beloved horse.
Food & Your Family
In Food & Your Family new research on why a lack of sleep causes weight gain. Scientists say they've known for year's not getting enough sleep can put on the pounds. The researchers at Columbia University found sleepy people eat more...about 300 calories more on average. Most of those extra calories came from high fat foods like ice cream and fast food. Sleep deprived women actually ate 31 more grams of fat per day. Sleep deprived people also have higher levels of a hormone that stimulates hunger and they're less likely to exercise.
It appears the turkey industry is breaking into the quick food market. C-k-e restaurants operates Carl's Junior and Hardees restaurants. The company announced it has introduced a line of char-broiled turkey burgers to its menu. This is the first major fast-food player to offer turkey burgers on a national basis. The company says there are five varieties, including traditional, guacamole, mushroom swiss, barbeque and teriyaki versions. C-k-e says the burgers have fewer than 500 calories.