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USFR Weekly Recap - February 7, 2015, 2014, 2015, 2015

09:30AM Feb 07, 2015

TODAY ON USFR
FEBRUARY 7-8, 2015

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU THIS WEEKEND. SIFTING THROUGH SOME COMPLICATED PROGRAMS... WITH DEADLINES APPROACHING, WE HAVE EXPERTS' ADVICE.  REMEMBERING ONE OF MUSIC'S GREATS...ANDREW MCCREA SHOWS US WHY BUDDY HOLLY'S MUSIC STILL LIVES AND INTRODUCES US TO A FARMER WHO HAS CLOSE TIES TO IT ALL. THE WEST COAST PORT LABOR DISPUTE HEATS UP...AND FROM JOHN'S FARM...
WEST COAST PORTS:
NOW FOR THE MARKET-RELATED NEWS, AN ONGOING LABOR DISPUTE AT THE WEST COAST PORTS IS HEATING UP, AND IF A DEAL ISN'T MADE FAST, SOME THINK IT’S INEVITABLE THAT SEVERAL PORTS WILL SHUT DOWN.
CATTLE PORTS:
 IN THE MEANTIME, THE LABOR DISPUTE IS ALSO CREATING A HUGE BACKLOG FOR SHIPMENTS OUT OF THIS COUNTRY, TO KEY COUNTRIES LIKE CHINA AND JAPAN. THAT INCLUDES TIME SENSITIVE MEAT PRODUCTS THAT CAN'T STAY REFRIGERATED THAT LONG. AND NOW MUCH OF THAT MEAT IS BEING PUSHED BACK INTO THE U-S, PUTTING PRESSURE ON PRICES. THAT'S A BIG TOPIC AT THIS YEAR'S NATIONAL CATTLEMEN'S BEEF ASSOCIATION CONVENTION. CLINTON GRIFFITHS HAS BEEN FOLLOWING THAT STORY THIS WEEK, CLINTON.
COTTON:
MEANWHILE, CHINA'S COTTON PRODUCTION COULD REACH A 12-YEAR LOW. THE INTERNATIONAL COTTON ADVISORY COMMITTEE RELEASED ITS EXPECTATIONS FOR BOTH PRICES AND PRODUCTION. THE GROUP THINKS LOW PRICES WILL PERSIST FOR THE REST OF THIS MARKETING YEAR, CUTTING ITS FORECAST BY 4 CENTS TO 68 CENTS A POUND. THAT'S THE LOWEST PRICE IN SIX YEARS.
WHEAT:
THE DRY AND WARM WINTER WEATHER IS TAKING ITS TOLL ON THE WINTER WHEAT CROP. IN KANSAS, THE PORTION WHEAT RATED GOOD TO EXCELLENT FELL BY THREE POINTS TO 46 PERCENT. BUT IN OKLAHOMA, THE GOOD TO EXCELLENT RATING DROPPED 13 POINTS TO 41 PERCENT.
PITCH TO MIKE:
THOSE ARE THE HEADLINES...MIKE HOFFMAN IS HERE NOW WITH WEATHER. MIKE, WE JUST TAKLED ABOUT DRY AND WARMER THAN NORMAL CONDITIONS IN THE PLAINS… DO YOU THINK THAT WILL CONTINUE?
TEASE ONE:
THANKS, MIKE. WHEN WE COME BACK WE'LL GET OUR ANALYSTS' REACTIONS TO THE DIEING PIT IN CHICAGO. THAT'S COMING UP NEXT.
JOHN’S WORLD:
WELL, THE SNOWPOCALYPSE THAT WAS PREDICTED TO BURY NEW YORK CITY WAS A FIZZLE. WHILE THERE WERE SOME HEFTY SNOW TOTALS ALONG THE NORTHEAST COAST, THE BIG APPLE WAS NOT BROUGHT TO A FREEZING HALT.AT THIS POINT IT WOULD YOU MIGHT BE EXPECTING WORDS OF MILD DERISION AT METEOROLOGISTS, AND TO BE SURE, IT WAS NOT BIG WEATHER'S FINEST HOUR. BUT I THINK THIS KIND OF PREDICTION ERROR IS SIMPLY THE WAY THINGS ARE GOING TO BE FOR A WHILE.THE REASONS ARE MANY, BUT ONE BIG ONE HAS TO DO WITH THE MEDIA. THE DISRUPTION IN THE BUSINESS PLAN OF REPORTING THE NEWS HAS REACHED EPIC DIMENSIONS. AS INFORMATION CONSUMERS FRACTURE INTO MICROMARKETS LIKE TWITTER FEEDS AND HUNDREDS OF TV CHANNELS, ADVERTISERS ARE BAFFLED HOW TO GET THEIR SALES MESSAGE ACROSS.WE HAVE PERSONALIZED OUR INFORMATION SOURCING. AT THE SAME TIME WE HAVE NEW TOOLS TO AVOID THE COMMERICIAL MESSAGES THAT HAVE TRADITIONALLY PAID FOR THOSE OUTLETS. THE RESULT IS A GROWING SENSE OF PANIC ACROSS ALL MEDIA OVER HOW TO ATTRACT ATTENTION TO GENERATE INCOME.UNFORTUNATELY, WHAT SEEMS TO HAVE WORKED THE LAST FEW YEARS IS OUTRAGE, SCANDAL AND SENSATIONALISM. FOR WEATHER FORECASTERS, THAT MEANS CONCENTRATING ON THE POSSIBLITY OF THREATENING OUTCOMES, NOT THE LIKELIHOOD MODERATE CONDITIONS. WHILE THIS STRATEGY HAS BEEN SOMETHAT SUCCESSFUL, I THINK THERE IS A GROWING WEARINESS WITH CONSTANT ALARM. TRADITIONAL MEDIA CONSUMPTION IS DROPPING IN PART BECAUSE MANY OF US ARE TIRED OF BEING AGITATED WHILE BEING INFORMED. CHECKING A WEATHER APP ON YOUR PHONE DOESN'T RAISE YOUR ADRENALINE LEVEL LIKE PICTURES OF GROCERY STORE LINES, FOR EXAMPLE. TO BE SURE, THERE IS A CASE TO BE MADE FOR OVER-PREPARING AS OPPOSED TO DISMISSING THE RISK OF AN ACTUAL CATASTROPHE, BUT I THINK WE ARE SETTING THE STAGE FOR EXACTLY THAT SCENARIO AS CONSUMERS LEARN TO IGNORE ROUTINE WARNINGS OF IMMINENT DISASTER.
TAG& CLOSE:
THANKS, JOHN. NAVIGATING THE FARM BILL IS PROVING TO BE PRETTY CHALLENGING FOR MANY, UNLESS YOU CAN PREDICT THE PRICE FOR THE NEXT 5 YEARS. BUT COMING UP, WE'LL TRY TO HELP SIFT THROUGH IT ALL.
HEADLINES:
WE HAVE MUCH MORE AHEAD THIS WEEKEND ON U-S FARM REPORT. NAVIGATING THE FARM BILL- WE HAVE EXPERT ADVICE ON WHICH PROGRAM COULD PAY THE MOST IN OUR FARM JOURNAL REPORT.  IN CUSTOMER SUPPORT, IS TURNING ALGAE INTO BIOFUELS A VIABLE OPTION? JOHN PHIPPS WEIGHS IN. AMERICAN COUNTRYSIDE SHOWS US WHY BUDDY HOLLY'S MUSIC STILL LIVES ON IN IOWA. AND IN TRACTOR TALES, SEE WHY ONE FARMALL B IS SO SPECIAL TO AN INDIANA FAMILY.
PORK PRODUCTION:
NOW FOR THE NEWS, PORK PRODUCTION IS SET TO OVERTAKE BEEF . THAT'S AS USDA THINKS BEEF PRODUCTION IS HEADING FOR A 22 YEAR LOW.
AGCO:
MEANWHILE, LARGE EQUIPMENT SALES HAVE REALLY TAKEN A HIT FROM LOWER GRAIN PRICES. AND AGCO OFFICIALS SAY WHILE SALES ARE ALREADY IMPACTED, IT'S 2015 THEY'RE MOST CONCERNED WITH. THE MANUFACTURER OF FENDT, CHALLENGER AND MASSEY FERGUSON EQUIPMENT IS PROJECTING A 15 PERCENT DROP IN COMPANY SALES FROM THE PREVIOUS YEAR.TO DEAL WITH THE DROP, AGCO HAS ALREADY REDUCED INVENTORY AND CUT BACK WORKFORCE BY 9 PERCENT.
WEATHER PITCH:
THAT'S IT FOR NEWS...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH THE NATIONAL FORECAST. MIKE, MANY AREAS RECEIVED SOME MOISTURE RELIEF IN THE FORM OF SNOW. ARE YOU EXPECTING MORE IN THE COMING MONTH?
FARM JOURNAL REPORT TAG:
THE LATEST EDITION OF FARM JOURNAL MAGAZINE IS HITTING MAILBOXES NOW. IT INCLUDES A REALLY DETAILED ARTICLE ABOUT 7 STEPS TO NAVIGATING THE NEW FARM BILL. SO, YOU'LL DEFINITELY WANT TO CHECK THAT OUT. USDA ALSO HAS A USEFUL FARM BILL DECISION TOOL ONLINE. THAT REALLY BREAKS THE VARIOUS PROGRAMS DOWN, AS WELL. NEXT UP, JOHN PHIPPS…
JOHN TEASE:
WHEN LIFE GIVES YOU LEMONS, YOU MADE LEMONADE. SO, WHEN IT GIVES YOU ALGAE, SHOULD YOU MAKE BIOFUELS?
CUSTOMER SUPPORT:
WELCOME BACK. NOW WE'RE OFF TO JOHN'S FARM WHERE A VIEWER HAS A QUESTION ABOUT TURNING SOMETHING OLD INTO SOMETHING NEW. JOHN.
TRACTOR TALES:
SO AL, WHERE IS OUR CLASSIC IRON FROM THIS WEEK? WELL TYNE, WE'RE OFF TO THE HOOSIER STATE FOR THIS WEEK'S TRACTOR TALES.” THIS 44 FARMALL M IS A FAMILY TREASURE. OWNER TRAVIS STACKHOUSE BOUGHT THIS WITH HIS GRANDPA AND NEVER LOOKED BACK."
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE COMMUNITY UNITED METHODIST CHURCH OF LA MOILLE {MOIL}, ILLINOIS. THE CHURCH WAS CREATED AFTER TWO CONGREGATIONS DECIDED TO JOIN TOGETHER. BUT BOTH OF THOSE CHURCHES WERE ORGANIZED IN 1850. THE NEWLY ORGANIZED CHURCH CELEBRATED 40 YEARS OF BEING TOGETHER THIS PAST FALL. CONGRATULATIONS AND OUR THANKS TO FLORENCE BUETTNER FOR SHARING THEIR STORY.

 

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