AgDay Daily Recap - September 6, 2011

September 7, 2011 04:16 AM
 

TODAY ON AGDAY:
SEPTEMBER 6, 2011

COTTON OUTLOOK:
GOOD MORNING EVERYONE, I HOPE YOU HAD A NICE LABOR DAY WEEKEND. GOVERNMENT OFFICES WERE CLOSED ON MONDAY, SO USDA DID NOT RELEASE ITS WEEKLY CROP PROGRESS REPORT. IT'LL COME-OUT THIS AFTERNOON AT 4:00 PM EASTERN. ONE CROP THAT CONTINUES TO STRUGGLE IS COTTON. AS OF LAST WEEK, ONLY 30% WAS CONSIDERED GOOD TO EXCELLENT ON A NATIONAL SCALE. ANOTHER ONE-THIRD IS FAIR. SEVERE DRYNESS HAMPERED THE SEASON. BUT ON A STATE-BY-STATE BASIS, SOME STATES HAVE WHAT LOOKS LIKE A GOOD CROP, LIKE TENNESSEE. ACCORDING TO USDA DATA, 69% IS GOOD TO EXCELLENT. THERE'S ALSO A BIGGER CROP FOR HARVEST THIS YEAR. BECAUSE OF ATTRACTIVE PRICES, SOME GROWERS PLANTED MORE COTTON. IN THIS REPORT FROM THE UNIVERSITY OF TENNESSEE, CHUCK DENNEY TELLS US WHY THE NUMBERS COULD HAVE BEEN EVEN BIGGER.

EXPORTS:
DUE TO THE SMALLER DOMESTIC COTTON CROP AND LARGER FOREIGN SUPPLY, USDA IS FORECASTING 2012 COTTON EXPORTS AT 6.6 BILLION DOLLARS, A DROP OF 2.5 BILLION DOLLARS. BY VOLUME, THAT'S A DECLINE OF NEARLY THREE MILLION TONS. THAT'S ONE OF THE FEW "DOWNS" IN THE LATEST AG EXPORTS REPORT. USDA EXPECTS 2012 AG EXPORTS TO REACH 137-BILLION DOLLARS. THAT'S THE SAME AS THE 2011 FORECAST. MEANWHILE, IMPORTS ARE PEGGED HIGHER THAN LAST YEAR, COMING IN AT 105-BILLION DOLLARS. THAT PUTS THE TRADE BALANCE AS A 32-BILLION DOLLAR SURPLUS.

DAIRY TODAY REPORT; FARM INCOME:
IN OUR DAIRY TODAY REPORT, NEW NUMBERS FROM THE USDA ARE PAINTING A ROSY PICTURE FOR FARM INCOMES. THEY EXPECT RECORD HIGH INCOMES FROM THE 2011 CROP. THE USDA'S ECONOMIC RESEARCH SERVICE EXPECTS U.S. FARM INCOME TO HIT 103 POINT 6 BILLION DOLLARS--UP 31% FROM LAST YEAR. THAT'S NEARLY 20 BILLION HIGHER THAN THE PREVIOUS RECORD SET BACK IN 2004. HIGH WORLDWIDE GRAIN DEMAND AND LOWER CROP YIELDS ARE EXPECTED TO PUSH PRICES AND INCOMES TO RECORD LEVELS. IN THE LIVESTOCK SECTOR, THE 2011 PICTURE LOOKS GOOD TOO-- DAIRY PRICES ARE UP 27% OVER LAST YEAR...BEEF NEARLY 20%. 2012 MAY BE A DIFFERENT STORY AS FEED PRICES RISE.

DAIRY TODAY REPORT; ALL MILK PRICE:
LAST WEEK THE USDA RELEASED THE AUGUST ALL-MILK PRICE--TIPPING THE SCALE AT 22 DOLLARS A HUNDRED. THAT'S UP TEN CENTS FROM JULY AND MORE THAN FIVE DOLLARS HIGHER THAN LAST YEAR. FLORIDA HAD THE HIGHEST MILK PRICE IN THE COUNTRY, COMING IN JUST UNDER 26 DOLLARS. STRONG PRICES ARE KEEPING COW VALUES UP.
THE USDA SAYS THE AVERAGE PRICE OF A DAIRY COW IS 1,400 AND 80 DOLLARS PER HEAD.

DAIRY TODAY REPORT; REDUCING ODORS:
SCIENTISTS CONTINUE TO LOOK FOR WAYS TO CREATE A SWEETER SMELLING DAIRY. MARK POWELL WITH THE USDA'S AG RESERSEARCH SERVICE MAY HAVE AN ANSWER USING PLANT EXTRACTS. HE FOUND ADDING NATURAL PLANT EXTRACTS OR TANNINS, BEST KNOWN FOR TANNING LEATHER, REDUCES THE AMOUNT OF AMMONIA GAS BY A THIRD. THE MAIN CATALYST BEHIND THE REDUCTION IS THAT TANNINS ALLOW THE DIGESTIVE SYSTEM TO BETTER UTILIZE PROTEIN. THERE'S MORE SCIENCE BEHIND IT WHICH YOU CAN READ ON THE ARS WEBSITE.
BUT FOR OTHER NEWS AFFECTING THE DAIRY INDUSTRY, INCLUDING PRODUCTION AND POLICY ISSUES, CHECK OUT WWW.DAIRYTODAY.COM.

FARM FUTURES FORECAST:
IN AGRIBUSINESS THE MARKET TICKER REFLECTS FRIDAY'S CLOSE. AND U.S. "TRADE" TOOK THE DAY OFF YESTERDAY. MEANWHILE, CHASING AFTER THOSE HIGH PRICES AND GOOD PROFIT POTENTIAL, IT APPEARS U.S. CORN GROWERS MAY PUSH ACREAGE TO A NEW LEVEL NEXT YEAR. THAT'S THE BOTTOM LINE OF A PLANTING INTENTIONS SURVEY CONDUCTED BY FARM FUTURES MAGAZINE. DURING LAST WEEK'S FARM PROGRESS SHOW IN ILLINOIS, FARM FUTURES RELEASED THE RESULTS OF ITS ANNUAL SURVEY. IT SHOWS PLANTED ACREAGE FOR CORN COULD HIT 93.8 MILLION ACRES NEXT YEAR, UP 1.7% FROM THIS YEAR. SOYBEANS ARE PEGGED JUST UNDER 77 MILLION, UP NEARLY 2.5%. AND ALL WHEAT PLANTINGS ARE POSTED AT 58.6 MILLION UP NEARLY 4%. IF THE CORN ESTIMATE IS CORRECT, IT WOULD SURPASS THE POST-WORLD WAR II RECORD OF 93.6 MILLION SET IN 2007. FARM DIRECTOR AL PELL HAS OUR ANALYSIS.

ANALYSIS:
ARLAN SUDERMAN

911 SPECIAL:
COMING UP THIS FRIDAY...WE'VE GOT A SPECIAL EDITION OF AGDAY IN HONOR OF THE TENTH ANNIVERSARY OF SEPTEMBER 11TH. EARLIER THIS YEAR, I TRAVELED TO MASSACHUSETTS FOR THE STORY OF A TRUE AMERICAN HERO. THIS WAS THE HOME FARM OF JOHN OGONOWSKI OF DRACUT MASSACHUSETTS. HE WAS A FARMER, A FATHER AND A TRUE FAMILY MAN. HE WAS ALSO A PILOT. JOHN WAS AT THE CONTROLS OF AMERICAN AIRLINES FLIGHT 11, THE FIRST AIRPLANE TO HIT THE WORLD TRADE CENTER NOW TEN YEARS AGO. AS THE COUNTRY MOURNS AND REMEMBERS THOSE WHO FELL THAT DAY, JOHN'S FAMILY IS STILL LIVING WITH THE LOSS.

IN THE COUNTRY; DROUGHT SIMULATOR:
IF YOU LIVE IN THE SOUTH, AND IN SOME PARTS OF THE MIDWEST, UNFORTUNATELY, YOU DON'T HAVE TO GO VERY FAR THIS SUMMER TO FIND DROUGHT. SOME SCIENTISTS AT THE UNIVERSITY OF MISSOURI CAN CREATE A DROUGHT WHEREVER THEY WANT. KENT FADDIS HAS DETAILS IN THIS REPORT FROM THE UNIVERSITY OF MISSOURI EXTENSION. KENT SAYS ADDITIONAL DROUGHT SIMULATORS ARE PLANNED FOR OTHER PLACES IN MISSOURI. THIS WILL ALLOW RESEARCHERS TO STUDY DROUGHT IN OTHER CROPS. FOOD AND YOUR FAMILY IS NEXT.

RESTAURANTS SERVING SALT:
IN FOOD AND YOUR FAMILY THERE'S BEEN A BIG PUSH RECENTLY TO REDUCE THE AMOUNT OF SALT WE EAT. WELL A NEW STUDY SAYS RESTAURANTS ARE USING MORE THAN EVER. THIS COMES FROM RESEARCH GROUP TECHNOMIC. THEY LOOKED AT OVER 2,000 OF THE TOP RESTAURANTS CHAINS AROUND THE COUNTRY. IT FOUND THAT DESPITE NATIONAL SALT REDUCTION INITIATIVES, SALT MENTIONS ON MENUS HAS INCREASED 144% OVER THE LAST 5 YEARS. THE RESEARCHERS SAY TODAY THERE'S MORE USE OF ARTISAN, SPICE BLENDED OR FINISHING SALTS...INGREDIENTS THAT USED TO BE RESERVED FOR FINE DINING..NOW MAKING THEIR WAY INTO MAINSTREAM.

EATING OUT OF HABIT:
WOULD YOU EAT BAD FOOD JUST BECAUSE IT WAS THERE?  ANOTHER PIECE OF NEW RESEARCH SAYS MANY OF US EAT OUT OF HABIT...EVEN IF THE FOOD IS OLD OR STALE. THEY DID THE RESEARCH WITH MOVIE GOERS AND STALE POPCORN. WHAT THEY FOUND WAS THAT PEOPLE WHO USUALLY ATE POPCORN AT MOVIES, ATE THE SAME AMOUNT WHETHER IT WAS FRESHLY POPPED OR ONE WEEK OLD. RESEARCHERS SAY THIS PROVES HOW FOOD TASTES ISN'T ALWAYS AS BIG A FACTOR AS OUR EATING HABITS.

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.
 

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