AgDay Daily Recap - November 3, 2010

November 5, 2010 02:59 AM
 

TODAY ON AGDAY:
NOVEMBER 3, 2010

COTTON SOARS:
WITH COMMODITY PRICES UP, MARKETS CONTINUE TO GET A LOT OF ATTENTION. YET ITS NOT CORN OR SOYBEANS LEADING THE PACK..IT’S COTTON. TUESDAY COTTON RALLIED TO ITS HIGHEST PRICE EVER, GOING LIMIT UP ON DECEMBER FUTURES--TO REACH A DOLLAR 34 A POUND. AND IT MAY NOT STOP THERE. PRICES FOR THE WHITE FIBER STARTED CLIMBING AFTER CROP FAILURES IN PLACES LIKE PAKISTAN PUT THE CROP IS SHORT SUPPLY. NOW CHINA, THE WORLD’S BIGGEST USER OF COTTON SAYS ITS CROP IS IN DANGER. A COLD SNAP IS THREATENING TO REDUCE THE NUMBER OF BALES PRODUCED IN THAT COUNTRY. WITH DEMAND REMAINING HIGH, COTTON CONTINUES ITS HISTORIC PRICE MARCH UPWARD--RISING 71% THIS YEAR...EVEN OUTPERFORMING GOLD--WHICH IS ALSO UP A MERE 15%. SO WHAT DOES THIS MEAN FOR PRODUCERS WORKING TO GET THE CROP OUT OF THE FIELD? OKLAHOMA STATE'S SUNUP TELEVISION SHOW VISITED A COUNTY IN THE SOUTHWESTERN PART OF THE STATE TO FIND OUT HOW SOARING PRICES ARE IMPACTING HARVEST. HERE'S REPORTER LYNDALL STOUT.

OK COTTON HARVEST:
THANKS LYNDALL. MONDAY'S CROP PROGRESS REPORT SHOWS THAT 61% OF THE NATION'S COTTON IS HARVESTED. THAT'S WELL AHEAD OF THE FIVE YEAR AVERAGE OF 44%.

WOOL PRICES:
COTTON ISN'T THE ONLY NATURAL FIBRE ENJOYING A SPIKE IN PRICES. AROUND THE GLOBE WOOL IS SELLING AT ITS HIGHEST A MARK IN DECADES. ACCORDING TO THE AMERICAN SHEEP INDUSTRY ASSOCIAITON, U.S. WOOL IS SELLING FOR NEAR 2 DOLLARS A POUND FOR 21 TO 22 MICRON WOOL. THAT'S THE HIGHEST PRICE IN SOME 20 YEARS.  THE ASSOCIATION SAYS SEVERAL THINGS ARE PLAYING INTO THE INCREASE, INCLUDING BETTER EXCHANGE RATES FOR EXPORTS. 60% OF U.S. WOOL IS EXPORTED. MAJOR PRODUCERS AUSTRAILIA AND NEW ZELAND HAVE SEEN A FIFTY PERCENT DROP IN PRODUCTION IN RECENT YEARS...LOWERING SUPPLY. AND THE U.S. MILITARY IS BUYING MORE AMERICAN WOOL FOR ITS SOLDIERSS. ON THE MEAT SIDE, LAMB AND MUTTON PRICES ARE ALSO AT HISTORIC HIGHS.

VILSACK:
AGRICULTURE SECRETARY TOM VILSACK HAS BEEN CRITICIZED BY SOME FARM GROUPS FOR THE LACK OF FOCUS ON PRODUCTION AGRICULTURE. WITH NEARLY THREE QUARTERS OF THE FARM BILL GOING TOWARDS FOOD PROGRAMS, IT'S EASY TO UNDERSTAND WHY. VILSACK AGREED TO SIT-DOWN WITH PRO FARMER WASHINGTON EDITOR ROGER BERNARD TO DISCUSS WHAT THE ADMINISTRATION HAS ACCOMPLISHED FOR AGRICULTURE IN THEIR FIRST TWO YEARS.

LEGACY TEASE:
THANKS ROGER... HERE'S A PROGRAMMING REMINDER FOR YOU. I WON'T BE ON THE DESK TOMORROW. INSTEAD KEVIN SPAFFORD WILL BE HERE FOR OUR MONTHLY EDITION OF LEAVE A LEGACY. WE'LL TAKE YOU BEHIND THE SCENES OF BLACK GOLD FARMS, OWNED BY THE HALVERSON FAMILY OF NORTH DAKOTA. IN BUSINESS FOR 80 YEARS, IT'S ONE OF THE PREMIER POTATO-GROWERS-FOR-CHIPS IN THE COUNTRY. THEIR SUCCESSION PLAN IS IN PLACE AND IT OFFERS SOME UNIQUE CHALLENGES TO THE HALVERSON CHILDREN. JOIN KEVIN SPAFFORD FOR LEAVE A LEGACY, DURING THIS PERIOD TOMORROW.

MARKETING RALLY:
IN AGRIBUSINESS, SIXTEEN OF THE TOP GRAIN ANALYSTS IN THE COUNTRY WILL GATHER NEXT MONTH IN SUBURBAN CHICAGO FOR THE 2010 MARKETING RALLY. NOW IN ITS SECOND YEAR, WE'VE ASSEMBLED THIS IMPRESSIVE CAST TO HELP FARMERS IMPROVE THEIR BOTTOM LINE.  IN ADDITION TO THE LARGER GROUP SESSIONS, YOU WILL ALSO BE ABLE TO GET ONE-ON-ONE MEETINGS WITH THE VARIOUS ANALYSTS, INCLUDING TODAY'S GUEST BILL BIEDERMANN FROM ALLENDALE INCORPORATED. THE TWO DAY SESSION TAKES PLACE DECEMBER FIRST AND SECOND AT THE PHEASANT RUN RESORT IN ST. CHARLES, ILLINOIS. REGISTRATION IS NOW OPEN. GO TO WWW.MARKETINGRALLY.COM TO LEARN MORE. NOW, LET'S CHECK IN WITH AL PELL.

ANALYSIS:
BILL BIEDERMANN

IN THE COUNTRY; CATTLE DRIVE:
THANKS JOEL FOR THAT BLUSTERY REPORT. COMING UP NEXT, ON FOOD AND YOUR FAMILY...LOSING WEIGHT WITH A PILLOW. SEE HOW A GOOD NIGHTS SLEEP MAY BE THE BEST DIETING ADVICE YOU'LL EVER GET.

SLEEP DIET:
IF YOU'RE LOOKING FOR A WAY TO LOSE A FEW EXTRA POUNDS, IN TODAY'S FOOD AND YOUR FAMILY WE'VE GOT ONE YOU CAN DO IN YOUR SLEEP..LITTERALLY. RESEARCHERS SAY GETTING A GOOD NIGHTS SLEEP IS ESSENTIAL TO MAINTAINING A HEALTHY WEIGHT. THE STUDY PUBLISHED IN THE JOURNALS OF INTERNAL MEDICINE SAYS THAT WHEN YOU'RE TRYING TO LOSE WEIGHT, A LACK OF SLEEP CAN AFFECT WHETHER THE BODY LOSES MUSCLE OR FAT...MORE SLEEP MORE FAT.  TO HELP GET THAT QUALITY SLUMBER, SCIENTISTS SAY WATCH WHAT YOU EAT BEFORE BED TIME. OPT FOR LIGHTER MEALS WITH A MIX OF CARBOHYDRATES AND PROTEIN. FATTY FOODS AND FOODS HIGH IN SUGAR HAVE BEEN SHOWN TO SIGNIFICANTLY SHORTEN THE ONSET OF SLEEP.

GULF SEAFOOD:
AND FEEL FREE TO EAT SEAFOOD FROM THE GULF OF MEXICO.  THAT’S THE LATEST WORD FROM FEDERAL SCIENTISTS. EXTENSIVE TESTING HAS FOUND ONLY MINUTE TRACES OF OIL DISPERSANTS IN FISH AND OTHER AQUATIC CREATURES. THE DISPERSANTS WERE USED TO BREAK UP OIL FROM THE BP SPILL EARLIER THIS YEAR. OF MORE THAN 1,700 SAMPLES, GOVERNMENTAL SCIENTISTS FOUND ONLY 13 WITH TRACE AMOUNTS OF THE CHEMICAL. AND IN THOSE THE CONCENTRATIONS WERE WELL BELOW SAFETY MARKS SET BY THE FDA. CURRENTLY MORE THAN 95% OF U.S. WATERS IN THE GULF ARE OPEN FOR COMMERCIAL AND RECREATIONAL FISHING.


 

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