Good morning I’m Clinton Griffiths. The beef processing company that makes lean, finely textured beef says a major news network has defamed its name...and now it's taking legal action.
LIVE CATTLE PRICES:
U.S. Live cattle futures eased back Wednesday after hitting a 6 month high the day before.
The October contract closed at $1.27 a pound. Market watchers say the recent rally is due to tightening supplies. Ranchers across the Midwest have sold more animals sooner due to this year's severe drought. That could still increase due to a lack of hay and forage as winter approaches.
Even with the heat of summer in the rear view, drought continues across the country.
Here's the weekly drought monitor. 64 % of the U.S. Is still in moderate to exceptional drought. That's the highest % since its inception back in 2000. Mike Hoffman continues our update from farm country.
Wildfires have impacted drought-stricken areas across the U.S. this year. In Idaho, the Mustang complex fire - has been burning since July.
In Wednesday’s Supply-Demand report, USDA lowered its new-crop carryout on soybeans - down to 115-million bushels...that's the lowest level in nearly a decade. And old crop corn was hiked by 160 million bushels from last month's guess. It now sits at just under 1.2 billion bushels.
Profarmer newsletter's Chip Flory and Brian Grete join us from our Profarmer studios in Cedar Falls, Iowa to sort it out for us - in this week's profit briefing. Thanks guys. For subscribers to the Profarmer newsletter, here's what's coming out later today in the latest edition. The Profarmer guys will analyze the new-crop soybean usage estimates which they call 'ridiculous' they also ask - will the 1-billion-bushel plus corn carryover end the mandate debate? And from Washington - Farm Bill 'needs' are taking a backseat to political 'wants' of both parties.
When cattle arrive in un-familiar territory - like a feedlot - they are often uncertain and looking for guidance, or a leader to follow. Sometimes it takes a "human touch" to point them in the right direction. In our brand new series called "Vets On Call", we're introduced to one such veterinarian. Meet Doctor Tom Noffsinger. Some people call him the cattle whisperer. We'll be running "Vets On Call" webisodes on a regular basis on AgDay. You can also watch other "Vets On Call" videos on YouTube. We’d also like to mention that Pfizer Animal Health funded the Vets On Call video series.
NY SODA BAN:
In food and your family, big sugary drinks are officially on their way out in New York City.
The city board of health voted 8 to 0 to pass the sale of sugar sweetened drinks in containers larger than 16 ounces.
And when it comes to America’s favorite tomato based sauce, you'll have to look south of the border.