TODAY ON AGDAY
NOVEMBER 16, 2011
Good morning. Imagine if any investment of yours saw a 40% gain. Well, that's the case in Nebraska for good farm-land. The Federal Reserve banks in Kansas City and Chicago released their quarterly land values report.
LAND VALUES NEBRASKA:
In the tenth district, which includes Nebraska, land values district-wide are up 25% from a year ago. Irrigated farmland in Nebraska saw a spike of 40%. Non-irrigated was up nearly as much. Parched-Oklahoma had the smallest increase in the district, up 10%.
CHICAGO FED LAND VALUES:
In the seventh district - which includes the "Big I" states - good farmland is also up 25% district-wide from a year ago. That's the largest rise in that district since 1977. On a state-by-state breakdown, Iowa farmland is up 31%, 29% in Indiana and 23% in Illinois. The reports are based on surveys with about 200 bankers in each district. The bankers say they expect land values are poised to rise in the fourth quarter as well. Expectations of bumper crops and rising farm income fueled the boost in farmland values.
I-80 HARVEST TOUR:
After eight weeks on the road, we're at our final stop on the Interstate 80 harvest tour. Since mid-September we've visited farms from Nebraska to Ohio to gauge this year’s corn and soybean crops. Our last stop is in Kendallville, Indiana where harvest is rolling along. R.D. started no-till on his corn in 1981. With the numerous soil types and hills, it's really paid off. Our thanks to R.D. and all of the farmers for sharing their time during a busy harvest season.
MACHINERY MINUTE; JAY LENO TRACTOR:
In Machinery Minute Veterans Day is over but, New Holland hopes to score big for our troops with this compact 35 horsepower tractor. The company hopes to raise a half million dollars selling it at auction thanks to its famous previous owner. New Holland is also offering 300 dollars off of ever tractor sold to veterans and military personnel from now until January 21st. And during that time, with each compact tractor sold in North America they're pledging an additional 100 dollars to Fisher House.
OUTDOORS ON THE FARM:
Without a doubt, Chip Flory has taken us to some interesting locations over the years. Usually we meet hard working farmers and land owners, managing their property and providing wildlife for hunting enthusiasts. This morning Chip introduces us to a group of kids with extraordinary challenges--obstacles they're overcoming to do what they love. We head to Oregon, Illinois for this edition of outdoors on the farm. Tomorrow we take a closer look at turning land into a wildlife playground. Plus, Chip hits the fields for a day of hunting that didn't quite turn out the way he hoped. Food and your family is next.
In food and your family it looks like restaurants are being inspired. New research from Technomic says pork on restaurant menus is up 7%. The study says leading restaurants are adding more pork to appetizers, entrees and sides. Researchers say the protein is gaining ground, in part, because buying beef is more expensive. Restaurants are substituting pork and using it in combination with other dishes. Two popular combos are pork and shellfish, or pork and chicken. While chops and tenderloins seeing more sales, bacon sausage and ham continue to be the most common pork ingredients.
And you know avocado's as green. A dark green skin and light green innards--great for dips and salads. Now food scientists say crushing the avocado seed along with air generates an orange color that may one day find uses as natural food coloring. The Penn State study was published in the Journal Food Science. The discovery may provide value added opportunities for avocado growers and processors.
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