AgDay Daily Recap -January 3, 2013

January 3, 2013 04:57 AM
 

TODAY ON AGDAY
JANUARY 3, 2013

FISCAL CLIFF:

GOOD MORNING I'M CLINTON GRIFFITHS. A DEAL BY CONGRESS TO AVOID THE FISCAL CLIFF ALSO INCLUDES A SHORT-TERM FIX FOR FARMERS. BOILING IT DOWN FOR YOU, CONGRESS EXTENDED THE MEASURE UNTIL SEPTEMBER OF THIS YEAR. THE PROVISIONS OF THE OH-EIGHT LAW - SUCH AS DIRECT PAYMENTS – ARE EXTENDED THROUGH THE 2013 CROP YEAR.  THE EXTENSION PREVENTS THE 1949 PERMANENT LAW FROM GOING INTO EFFECT. DAIRY PRICE SUPPORTS AND MILK INCOME LOSS CONTRACTS REMAIN THE SAME. PROGRAMS THAT HAD ALREADY EXPIRED WERE NOT EXTENDED.

DEBBIE STABENOW:

MEANWHILE, SENATE AG COMMITTEE CHAIR DEBBIE STABENOW SAID SHE IS "DEEPLY CONCERNED" ABOUT AN INCOMPLETE FARM BILL THAT ENDS FUNDING FOR IMPORTANT PARTS OF THE BILL, BUT--- CONTINUES SUBSIDIES THAT WERE REMOVED IN THE 2012 SENATE VERSION OF THE FARM BILL, WHICH THAT CHAMBER APPROVED.

DAIRY CLIFF:

TAKING A CLOSER LOOK AT THE IMPACT ON THE DAIRY INDUSTRY - OUR PARTNERS AT DAIRY TODAY SAY THE NATIONAL MILK PRODUCERS FEDERATION IS SHARPLY CRITICAL OF THE FARM BILL EXTENSION. THE GROUP - WHICH REPRESENTS MANY DAIRY CO-OPS - WAS SUPPORTIVE OF BIG CHANGES TO U-S DAIRY POLICY. N-M-P-F WAS URGING CONGRESS TO PASS THE DAIRY SECURITY ACT, WHICH IT FEELS WOULD HAVE PROVIDED A STRONGER SAFETY NET FOR DAIRY PRODUCERS.THE DAIRY SECURITY ACT INCLUDES A SUPPLY-MANAGEMENT PROVISION THAT WOULD ENCOURAGE DAIRY FARMERS TO LIMIT PRODUCTION INCREASES IN TIMES OF TIGHT PROFIT MARGINS.

BIOFUELS CREDIT:

CONGRESS ALSO APPROVED SEVERAL ENERGY SUBSIDIES THAT ARE OF BIG INTEREST TO AGRICULTURE. CONGRESS VOTED TO REINSTATE BIODIESEL TAX INCENTIVE WHICH EXPIRED OVER A YEAR AGO. THE AMERICAN SOYBEAN ASSOCIATION APPLAUDED THIS DECISION WHICH HELPS SUPPORT THE SALE OF SOYBEANS. IT PROVIDES A DOLLAR PER GALLON CREDIT FOR THE BIODIESEL INDUSTRY. LAWMAKERS ALSO APPROVED THE ONE YEAR EXTENSION OF THE CELLULOSIC PRODUCER TAX CREDIT FOR THE ETHANOL INDUSTRY. CONGRESS ALSO EXTENDED WIND ENERGY TAX CREDITS FOR PROJECTS THAT START IN 2013.

ESTATE TAX:

FARMERS AND RANCHERS ALSO AVERTED WHAT COULD HAVE BEEN A MAJOR BURDEN WITH A HIKE IN THE ESTATE TAX. NATIONAL REPORTER TYNE MORGAN IS HERE WITH THE DETAILS. GOOD MORNING, TYNE.

TAX CHANGES:

GOOD MORNING, CLINTON. FARM CPA EXPERT PAUL NEIFFER HAS HAD A LITTLE TIME TO THUMB THROUGH DETAILS IN THE NEW LEGISLATION PERTAININTG TO TAX LAWS. OVERALL, NEIFFER SAYS IT'S POSITIVE FOR MANY FARMERS AND RANCHERS.

FISCAL CLIFF:

THE EXTENSION OF THE 2008 FARM BILL DID NOT INCLUDE AN EXTENSION OF THE LIVESTOCK DISASTER ASSISTANCE PROGRAM. THAT PROGRAM WHICH HASN'T HAD FUNDING IN MORE THAN A YEAR, WOULD TARGET STRUGGLING CATTLE AND LIVESTOCK PRODUCERS IMPACTED BY DROUGHT.

2012 MARKETS:

DROUGHT AND CONTINUED STRONG EXPORTS KEPT CATTLE PRICES UP IN 2012. LIVE CATTLE CONTRACTS ENDED THE YEAR UP ABOUT SIX PERCENT. THAT'S THE FOURTH STRAIGHT ANNUAL GAIN IN PRICES FOR U.S. PRODUCERS. CASH CATTLE TRADED IN THE 127 RANGE TO END THE MONTH. CATTLE FUTURES WERE ALSO UP A FEW PERCENTAGE POINTS ON THE YEAR.

WHEAT CONDITIONS:

RECENT WINTER WEATHER MAY BE TOO LITTLE TOO LATE FOR THE WINTER WHEAT CROP. USDA SAYS WHEAT CONDITIONS IN OKLAHOMA, KANSAS AND NEBRASKA CONTINUE TO LAG. THE CROP RANGES FROM 44 TO 60 PERCENT POOR TO VERY POOR IN OKLAHOMA. ABOUT 50% IS THAT BAD IN NEBRASKA AND A THIRD IS POOR TO VERY POOR IN KANSAS. CONDITIONS ARE IMPROVING SLIGHTLY IN THE NORTHERN PRODUCTION AREAS.

CROP WATCH:

WHILE MOST OF THE WINTER WHEAT IS STILL STRUGGLING, SOME FIELDS ARE LOOKING BETTER. MIKE HOFFMAN HAS DETAILS IN CROPWATCH. GOOD MORNING MIKE.

AG STOCKS:

IN AGRIBUSINESS TODAY THE COUNTRY'S BIGGEST AG COMPANIES PERFORMED WELL IN 2012.

HSUS:

H-S-U-S CEO WAYNE PACELLE IS WITHDRAWING HIS SEAT ON TYSON FOODS' BOARD OF DIRECTORS. THIS FALL PACELLE ANNOUNCED HIS PLANS TO RUN. PACELLE SAID THE COMPANY'S DUAL-CLASS VOTING STRUCTURE WOULD ALLOW THE COMPANY TO REJECT HIS ELECTION. PACELLE SAID HE WANTED ON THE BOARD TO IMPROVE TYSON'S TREATMENT OF ANIMALS.

ANALYSIS:

WHILE THE STOCK MARKET HAD A BIG RALLY WEDNESDAY, GRAINS TRADED LOWER.

WHEAT FUTURES SAW THE BIGGEST DROP FALLING MORE THAN 20 CENTS AT THE CME. IN ANALYSIS THIS MORNING, AL PELL JOINS US WITH A CLOSER LOOK AT THE WHEAT MARKET AND HOW IT’S SHAPING UP FOR 2013.

HOTEL CLASS:

UNIVERSITY OF MISSOURI STUDENTS WHO WANT A CAREER IN HOTEL MANAGEMENT DON'T HAVE TO VENTURE FAR FROM CAMPUS TO GET EXPERIENCE. IN THIS REPORT PROVIDED BY THE UNIVERSITY OF MISSOURI EXTENSION, KENT FADDIS TELLS US ABOUT A UNIQUE BED AND BREAKFAST THAT SERVES AS A PLACE OF LODGING AND LEARNING. THE GATHERING PLACE HAS A COLORFUL HISTORY. IT'S GONE FROM BEING A PRIVATE HOME TO A FRATERNITY HOUSE SEVERAL TIMES OVER. FOR MORE INFORMATION ON THIS SPECIAL B-AND-B, CHECK OUT THEIR WEBSITE GATHERINGPLACEBEDANDBREAKFAST.COM.

FOOD ALLERGY:

IN FOOD AND YOUR FAMILY,   WITH MANY KIDS RETURNING TO SCHOOL THIS WEEK FROM THEIR HOLIDAY BREAK, SADLY FOR SOME, IT MEANS BEING BULLIED AGAIN.

LOW CALORIE SODA:

AND IF ONE OF YOUR NEW YEAR'S RESOLUTIONS IS TO CUT BACK ON CALORIE LOADED DRINKS, THE DR PEPPER GROUP MAY BE ABLE TO HELP YOU REACH THAT GOAL THIS YEAR. WHETHER YOU CALL IT POP, SODA OR COKE, FIVE NEW LOW CALORIE DRINKS MAY FIT YOUR TASTE.

 

 

 
 
 
 
 
 
 
 
 
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