AgDay Daily Recap - May 24, 2012

May 24, 2012 05:57 AM
 

TODAY ON AGDAY
MAY 24, 2012

PORK PRODUCTION

It appears the single case of BSE in a California dairy cow could have in directly impacted the pork markets as well. That’s the view of Purdue University AG Economist Chris Hurt. Hurt says the spring hog price rally has not occurred, and feed costs have now pushed to record-high levels.

MIDWEST DAIRY LOSSES

Even if you don't pay yourself and the family to run the dairy operation, it seems those businesses are still finding it difficult to see a return, especially in the Midwest. That’s the bottom line of a new report from University of Nebraska. High feed prices and anemic milk prices continue to squeeze the budgets.

MONSANTO PRECISION

In other news Monsanto is expanding beyond its core business of seeds and trait technology.

The company announced it has reached an agreement to purchase "Precision Planting" - an Illinois company that develops after-market planter add-ons that improve seed depths and spacing. Monsanto Chief Technology Officer - Robb Fraley - says precision planting will become part of Monsanto’s integrated farming systems unit. Monsanto agreed to pay 210 million dollars for the business, plus other bonuses. Precision Planting was founded in 1993.

RAIL STRIKE

In Agribusiness today - a rail strike in Canada could impact grain shipments in that country as well as the US. Union workers for Canadian Pacific Railway walked off the job about 24 hours ago. The Calgary Herald Newspaper says some Analysts say the walk-out could have a big impact on the transportation of grain, potash, and coal. A spokesperson for Agrium said any interruption of service for farmers receiving crop nutrients is going to have an impact on their business. Agrium is a major retail supplier of agricultural products and services in North America. It's based in Canada. The company says it would need to rely more heavily on trucks to ship its product.

ANALYSIS

As the American and European economies struggle to get back on track, what does the future hold? We asked Farm Journal Economist Bob Utterback to give us an update on Macro-Economics. Farm director Al Pell has more in analysis.

FARMING THEME PARK

If your summer vacation includes a trip to a theme park, there's one in California that may 'fill' that need. It could also fill your plate with healthy foods. The former Marine Corps air station at El Toro is now the "Orange County Great Park". Before the military built the base during world war two, it was farmland. Now, it's a place for families to learn how to garden and a lot more.

Tracy Sellers has details in this report from the California Farm Bureau. The park spans more than 13-hundred acres. The marine air station was de-commissioned in 1999. To learn more go to the park's website OCGP.org.

SMARTPHONE SHOPPING

In Food and Your Family many consumers are saying good-bye to the paper shopping list when they head to the grocery store. Now, Smartphones and various mobile phone apps are quickly becoming the go to source. The NPD group is a consumer market research firm.

DON’T FRY DAY

And finally this morning Farmers, Ranchers and others who work outside know the importance of protecting their skin from sun damage. But as a reminder today is "Don't Fry Day". That’s all the time we have this morning. Don't forget to tune in tomorrow as we announce the big winner of the Yamaha Rhino 700.

 

 
 
 
 
 

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 Facebook.

 

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