KC FED LAND VALUES:
Good morning I’m Clinton Griffiths. Farm income expectations are getting trimmed as crops shrivel and herd sizes shrink. The Kansas City district represents states from Nebraska to New Mexico. Bankers in the region say cropland and ranchland values continue to post strong gains over year-ago levels, but the rate of increase slowed during the second quarter. Tyne Morgan’s been looking at the report, Tyne.
USDA ADDS COUNTIES:
The number of counties designated as primary natural disasters due to drought continues to climb. On Wednesday the USDA secretary Tom Vilsack added 172 counties in 15 states to the designation. The states with largest number added include Kentucky and Iowa. To date nearly 18-hundred counties have been classified as primary natural disasters. That makes farm operators eligible for low interest emergency loans.
Due to the severity of the drought there's a lot of interest and anticipation in this years Profarmer Midwest crop tour. For 20 years, our partners at Profarmer newsletter have conducted an extensive tour of the primary corn and soybean states in the Midwest. Because of the shriveled crop, the results will be watched closely. The tour begins this coming Monday. We'll have teams of scouts leaving from Ohio in the east, Nebraska in the west and ending in Minnesota. From there, Profarmer will offer its official guestimate for the 2012 season. And we'll have crews all along the route to provide daily coverage next week.
NEW YORK DAIRY:
Speaking of New York, the state has witnessed a large increase in the number of Greek yogurt plants. In response, the state conducted a "yogurt summit" on Wednesday. During the meeting, New York governor Andrew Cuomo proposed to increase the cap on what size dairy would be considered a concentrated animal feeding operation or cafo. Cuomo proposes to increase it from 200 to 300 head.
FOREST SERVICE SUIT:
Three groups - including NCBA - have filed a lawsuit against the U.S. forest service for its forest planning rule.
RECORD GROUND BEEF PRICES:
Higher cattle prices are translating to prices at the meat counter. According to data from the bureau of labor statistics, the average price per pound of 100% ground beef hit $3.09 in July. That's the highest price ever. The BLS has been tracking these numbers since 1984--it was 1.29 per pound to start that year.
In agribusiness, the world's largest beef producer made big gains in the second quarter. Brazil meatpacker J-B-S reports profits of 83.6 million dollars over the same period last year. The company credits the gains to expanding processing capacity in brazil and the addition of poultry production. Meanwhile, equipment sales at John Deere remained strong last quarter. Deere reports a 13% gain in sales over the past nine months with a 15% jump in sales last quarter. It expects that momentum to continue through the year resulting in record income in excess of 3 billion dollars.
This morning we're taking time to celebrate an important milestone. Today marks 30 years since AgDay first went on the air. And while the faces have changed - except for Al Pell - our commitment to inform America’s farmers and ranchers has not wavered...take a look. We thank you - our loyal viewers - for tuning in and trusting us to bring you the important news in agriculture that affects us all.
FOOD AND YOUR FAMILY:
In food and your family American families are still getting 3 squares but the number of dishes served is shrinking. And as college students head back to school, their eating habits may be blazing a trail of trends for the coming years.