AgDay Daily Recap - May 26, 2011

May 26, 2011 03:59 AM
 

TODAY ON AGDAY:
MAY 26, 2011

FARM BILL HEARING:
GOOD MORNING. THE FIRST HEARNING FOR THE 2012 FARM BILL BEGINS TODAY IN WASHINGTON D.C. SECRETARY OF AGRICULTURE TOM VILSACK AND OTHERS WILL SPEAK ABOUT THE ROLE, RISKS AND CHALLENGES FOR AMERICAN AGRICULTURE. THOSE COMMENTS WILL BE USED TO SHAPE THE NEXT FARM BILL. THIS HEARING IS HAPPENING BEFORE THE SENATE AGRICULTURE NUTRITION AND FORESTRY COMMITTEE. COMMITTEE CHAIRWOMAN DEBBIE STABENOW IS PLANNING SEVERAL OF THESE HEARINGS ACROSS THE COUNTRY OVER THE NEXT YEAR. SHE AND THE COMITTIEE HOPE TO GET IDEAS FROM THE AG INDUSTRY ABOUT CONCERNS OR PROGRAMS IMPORTANT TO KEEP.
THE HOUSE AG COMMITTEE IS DOING THE SAME THING...STABENOW SAYS THERE ARE A FEW THING'S SHE'LL BE WATCHING.

AG APPROPRIATIONS:
A BIG CHALLENGE FOR THE NEXT FARM BILL IS THE FEDERAL BUDGET.  BUDGET WORK FOR NEXT YEAR IS ALREADY UNDERWAY. THE HOUSE APPROPRIATIONS COMMITTEE RELEASED ITS SUBCOMMITTEE DRAFT FOR THE 2012 AG APPROPRIATIONS. THE PANEL'S DRAFT INCLUDES ABOUT 2.5 BILLION IN DISCRETIONARY SPENDING REDUCTIONS. THAT'S COMPARED TO LAST YEAR. IT CUTS BUDGETS FOR AG RESEARCH, PLANT AND ANIMAL SERVICES OR APHIS, AND CONSERVATION AND RURAL ECONOMIC DEVELOPMENT PROGRAMS. IT ALSO CUTS MONEY FOR THE WOMEN, INFANTS AND CHILDREN FOOD PROGRAM BUT THE SNAP, FORMALLY KNOWN AS FOOD STAMPS AND WHICH FALLS INTO MANDATORY SPENDING-- GOT A NEAR 10% INCREASE.

BEEF TODAY GIPSA RULE:
KEEPING WITH AG APPROPRIATIONS, OUR REPORTING PARTNERS AT BEEF TODAY SAY THAT HOUSE SUBCOMMITTEE BUDGET PUTS A STOP ON THE GIPSA MARKETING RULE. THE 2012 SPENDING BILL INCLUDES A PROVISION THAT BLOCKS FURTHER USDA ACTION ON THE LIVESTOCK MARKETING RULE. GIPSA WOULD MAKE MAJOR CHANGES TO THE WAY LIVESTOCK AND POULTRY ARE MARKETED IN THE U.S. THIS LEGISLATION FORBIDS USDA FROM USING ANY FUNDS IN 2012 TO --QUOTE-- WRITE PREPARE OR PUBLISH A FINAL RULE OR INTERIM FINAL RULE ON GIPSA.  EARLIER THIS MONTH 147 MEMBERS OF THE HOUSE SENT A LETTER TO AG SECRETARY VILSACK ASKING HIM TO WITHDRAW THE RULE UNTIL AN ECNOMOMIC ANALYSIS IS DONE.

BEEF TODAY FREE TRADE:
ALSO FROM OUR PARTNERS AT BEEF TODAY...THE NATIONAL CATTLEMEN'S BEEF ASSOCIATION IS THE LATEST AG GROUP TIO URGE THE OBAMA ADMINISTRATION TO SEND THREE UN-FINISHED FREE TRADE AGREEMENTS TO CONGRESS. DURING A NEWS CONFERENCE ON CAPITOL HILL, NCBA CALLED FOR IMMEDIATE ACTION ON THE FTA'S WITH COLOMBIA, PANAMA AND SOUTH KOREA. ACCORDING TO NCBA, U.S. BEEF EXPORTS TO SOUTH KOREA ADD 25-DOLLARS IN VALUE TO EACH OF THE 27 MILLION HEAD OF STEERS AND HEIFERS PRODUCED IN THE UNITED STATES. BUT THOSE GAINS ARE LOST BY A 40% TARIFF ASSESSED TO ALL CUTS OF U.S. BEEF SENT TO SOUTH KOREA. WHEN IMPLEMENTED THE FTA WOULD PHASE OUT THE TARIFF. YOU CAN GET MANY MORE UPDATES ON THE BEEF INDUSTRY, INCLUDING MARKET AND PRODUCTION INFORMATION FROM OUR PARTNERS AT WWW.BEEFTODAY.COM .

PP CROP INSURANCE:
MOST FARMERS IN THE MIDWEST USE CROP INSURANCE TO MANAGE RISK, BUT IT DOESN'T COVER EVERYTHING. SO WHAT WOULD IT TAKE TO HEDGE-OUT THE REST OF THE CROP? TODD GLEASON HAS DETAILS IN THIS REPORT FROM THE UNIVERSITY OF ILLINOIS. TODD SAYS THERE'S A BRAND NEW ARTICLE ON THAT WEBSITE WHICH HELP PRODUCERS WHO MAY SOON FACE THE "PREVENT PLANT" PROVISIONS ON THEIR CROP INSURANCE POLICIES. IT INCLUDES CALCULATORS THAT CAN HELP THEM MAKE THE DECISION TO PLANT CORN, SOYBEANS OR NOTHING AT ALL.  AND THOSE TOOLS ARE HELPFUL TO ANY PRODUCER, NOT JUST THOSE IN ILLINOIS.

TP SEMINAR:
IN AGRIBUSINESS, IF YOU NEED TO FINE-TUNE YOUR BUSINESS PLAN, YOU'LL GET PLENTY OF ADVICE AT THE TOP PRODUCER SEMINAR SCHEDULED FOR NEXT WEEK. AND IT'S NOT TOO LATE FOR YOU TO REGISTER. THE TOP PRODUCER SUMMER SEMINAR - SUMMER EDITION - IS SET FOR JUNE 7TH AND 8TH IN BETTENDORF, IOWA. THAT'S RIGHT ALONG THE MISSISSIPPI RIVER IN THE QUAD CITIES. IF YOU WOULD LIKE MORE INFORMATION OR TO REGISTER, GO TO www.agweb.com AND CLICK ON THE "TOP PRODUCER" TAB. YOU CAN ALSO CALL 515-832-1436.

DEERE DIVIDENDS:
MEANWHILE, FOR THE NINTH TIME IN JUST SEVEN YEARS...THE DEERE AND COMPANY BOARD OF DIRECTORS APPROVED AN INCREASE OF THE COMPANY'S DIVIDEND. THE BOARD RAISED IT TO 41-CENTS A SHARE ON COMMON STOCK. THE NEW QUARTERLY RATE REPRESENTS AN INCREASE OF 6 CENTS PER SHARE OVER THE PREVIOUS LEVEL.

ANALYSIS:
GARY WILHELMI

LINDSAY FUNERAL:
FUNERAL SERVICES WERE HELD THIS WEEK FOR OUR CO-WORKER, AGRIBUSINESS DIRECTOR LINDSAY HILL. LINDSAY DIED LAST WEEK IN A CAR CRASH IN OHIO. IN A FITTING TRIBUTE TO THE OHIO-RAISED FARM GIRL, THE SERVICES WERE HELD AT A RUSTIC MEETING HALL IN HER HOMETOWN OF DE-GRAFF. THERE WAS A LARGE OUT-POURING OF SUPPORT FOR LINDSAY'S FAMILY. LINDSAY GREW-UP IN OHIO AND ATTENDED OHIO STATE UNIVERSITY WHERE SHE EARNED HER DEGREE IN AGRICULTURE COMMUNICATIONS. HER SUPPORT FOR THE BUCKEYES NEVER WAVERED. TO HONOR LINDSAY, HER FAMILY SET-UP A MEMORIAL FUND AT HER BELOVED ALMA MATER - THE OHIO STATE UNIVERSITY.
THOSE DONATIONS COULD HELP FUTURE FARM BROADCASTERS ATTEND SCHOOL. THE ADDRESS IS OHIO STATE UNIVERSITY FOUNDATION...1480 WEST LANE AVENUE...COLUMBUS, OHIO...43221.

IN THE COUNTRY; BEAVER CREEK:
MIX TOGETHER THE RIGHT COMBINATION OF BARLEY AND HOPS, AND YOU CAN DEVELOP A LOYAL FOLLOWING OF YOUR BREWED PRODUCT.  THAT'S CERTAINLY THE CASE AT A SMALL MICRO-BREWERY IN EASTERN MONTANA. CLIFF NAYLOR FROM AFFILIATE KFYR-TV SAYS "CHEERS" TO BEAVER CREEK BEER. THANKS CLIFF. WHEN AGDAY CONTINUES WE'LL TAKE A LOOK AT WHAT MAY BECOME THE NEXT BIG UP-AND-COMING BREAKFAST MEAL. FOOD AND YOUR FAMILY IS NEXT.

BEE LOSSES:
THE WORKER BEES THAT MAKE OUR FOOD ARE STILL DYING OFF AT A RAPID CLIP, BUT THERE IS SOME GOOD NEWS WHEN IT COMES TO HONEY BEES. DETAILS IN FOOD AND YOUR FAMILY EACH WINTER, USDA AND BEE-KEEPERS MEASURE THE NUMBER OF BEES THAT DIED DURING THE SEASON. THIS YEAR, MANAGED HONEY BEE COLONIES SAW 30 PERCENT LOSSES FROM VARIOUS CAUSES, INCLUDING COLONY COLLAPSE DISORDER. THE GOOD NEWS IS - THESE LOSSES ARE COMPARABLE TO THOSE SEEN OVER THE FOUR PREVIOUS YEARS. SO, THE PROBLEM DOES NOT SEEM TO BE GETTING WORSE. HOWEVER, USDA SAYS CONTINUED LOSSES OF THIS SIZE PUT PRESSURE ON THE ECONOMIC SUSTAINABILITY OF COMMERCIAL BEEKEEPING. OF THE BEEKEEPERS SURVEYED, ABOUT A THIRD SAY THEY LOST SOME BEES FROM "CCD"...AND RESEARCHERS STILL DON'T KNOW WHAT CAUSES THAT PHENOMENON.

POULTRY FOR BREAKFAST:
MEANWHILE, IT APPEARS THE NEXT BIG BREAKFAST MEAT COULD COME FROM THE POULTRY SECTOR. TECHNOMIC - WHICH IS A FOOD RESEARCH FIRM - CONDUCTED A SURVEY OF CONSUMERS. 25% OF THOSE SURVEYED SAID THEY WOULD VERY LIKELY ORDER A CHICKEN BREAKFAST SANDWICH IF THEY WERE AVAILABLE. IT WAS EVEN HIGHER FOR TURKEY. 30% SAID THEY WOULD SELECT BREAKFAST SANDWICHES MADE WITH TURKEY SAUSAGE OR BACON.

CONTACT PAGE:
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 SOME OF THAT NEW TECHNOLOGY, AT WWW.FACEBOOK.COM/AGDAY .
 

 

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