USFR Weekly Recap - June11-12,2016

June 11, 2016 03:30 AM
 

TODAY ON U.S. FARM REPORT
JUNE 11-12, 2016


OPENING HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M CLINTON GRIFFITHS, IN FOR TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON THIS WEEKEND.  FRESH MARKET MOVES---COMMODITIES LIFT BUT WILL THEY HOLD. THE FARM COUNTRY CLIMATE--A FRESH BAROMETER OF THE AG ECONOMY.  FROM WORLD PORK EXPO--HEALTHY HOGS--A NEW FEED DIRECTIVE IS SET TO CHANGE ANTIBIOTIC USE  "THEY'VE BEEN CONSCIENCES ABOUT HOW THEY USE ANTIBIOTICS SO NOT AS MUCH OF A CHANGE FOR THEM AS IT WILL OUR SMALLER PRODUCERS."  A DUSTY DEERE--TRACTOR TALES TALKS THIS JOHN DEERE A. AND IT'S JOHN'S WORLD...”IT'S VACATION TIME, NO SERIOUSLY."  NOW FOR THE NEWS THAT MOVED THE MARKETS THIS WEEK...  FRIDAY ROUNDED OUT SEVERAL DAYS OF INTERESTING TRADE WITH A CROP  PRODUCTION REPORT FROM USDA. 

EXPORT FORECASTS:

USDA ECONOMISTS LEAVING PROJECTIONS FOR CORN UNCHANGED AT 14 POINT 4 BILLIONBUSHELS. ENDING STOCKS FELL BY 145 MILLION BUSHELS TO ROUGHLY 2 BILLION BUSHELS. ON HIGHER EXPORT FORECASTS DUE TO PRODUCTION CHALLENGES IN BRAZIL.ON THE SOYBEANS SIDE, THIS YEAR THE PRODUCTION FORECAST IS ALSO UNCHANGED AT3 POINT 8 BILLION BUSHELS. ENDING STOCKS HOWEVER WERE LOWED ONCE AGAIN. DOWN 45 MILLION BUSHELS TO 260 MILLION ON LOWER BEGINNING STOCKS AND INCREASED EXPORTS. AND WINTER WHEAT PRODUCTION IS UP 6 PERCENT OVER LAST MONTH'S ESTIMATE TO 1 POINT 5 BILLION BUSHELS.USDA IS FORECASTING YEILDS ABOVE 50 BUSHELS TO THE ACRE. IF IT HOLDS THAT WOULD BE THE HIGHEST YIELD ON RECORD FOR THE U.S.
RALLY:

EARLIER IN THE WEEK, COMMODITY MARKETS SEEING ANOTHER STRONG RALLY. DECEMBER CORN FUTURE'S CONTRACTS ROSE TO NEAR 4-40 PER BUSHEL...  NOVEMBER BEANS JUMPING SOME 30 CENTS WEDNESDAY TO NEAR 11-AND-AHALF...AND JULY WHEAT IN CHICAGO TOPPING 5-20 BEFORE FALLING BACK. TRADERS IN CHICAGO SAY ITS REALLY WEATHER THAT'S ALREADY MOVING MARKETS.  WE'VE SEEN JUST AN EXPLOSION HEAR. A LOT OF TALK ABOUT WEATHER WAY TOO EARLY TO WORRY ABOUT  WEATHER A LOT OF TALK ABOUT A LOT OF THINGS AT THE END OF THE DAY I THINK YOU'RE REALLY GOT A LOT OF  SHORTS REALLY TRAPPED HERE. I THINK YOU HAVE A LOT OF GREED CHASING IN HERE. YOU TIE IN THE  REGULAR ECONOMY YOU TIE THAT DOLLAR THAN JUST CREATE ON THESE PARABOLIC RALLIES WHICH WILL NOT  BE SUSTAINED. HE CALLS FOR PROTECTING THESE LEVELS. THAT WEDNESDAY RALLY TOOK CORN FUTURES TO A FRESH 11 MONTH HIGH. 

CROP PROGRESS:
COMBINES ARE NOW ROLLING IN BOTH TEXAS AND OKLAHOMA. VIEWER THOMAS ZUM-MALLEN FROM OKARCHE, OKLAHOMA SENT THIS PHOTO, SHOWING HIS PARKED COMBINE GETTING READY TO KICK-UP SOME CHAFF.  CURRENTLY, THE SOUTHERN PLAINS IS RUNNING BEHIND...MOSTLY DUE TO RAIN.  THE LONE STAR STATE HAS SEEN DELUGE AFTER DELUGE. JASON JACOBY NEAR SAN ANGELO TEXAS TELLING US THAT WHEAT IS STARTING TO SPROUT. IN SOME OF THOSE AREAS SPROUTING DAMAGE IS BETWEEN 6 AND 15 PERCENT. USDA RELEASED IT'S LATEST CROP PROGRESS NUMBERS LATE MONDAY.  IT SHOWS IN TEXAS, 16 PERCENT OF THE WINTER WHEAT CROP IS NOW CUT.  THAT'S 10 POINTS BEHIND THE FIVE YEAR AVERAGE.  AG ECONOMY BAROMETER SHOWS FARMERS ARE LESS OPTIMISTIC:
 A NEW ECONOMIC TOOL IN FARM COUNTRY SHOWING FARMERS ARE NOT QUITE AS OPTIMISTIC AS THEY WERE IN APRIL. PURDUE UNIVERSITY AND THE C-M-E JOINTLY RELEASING THE RESULTS OF THEIR  BRAND NEW "AG ECONOMY BAROMETER". THE BAROMETER DROPPED FROM 106 IN APRIL TO 97 IN MAY. PURDUE ECONOMISTS SAY THE INCREASE IN APRIL WAS DRIVEN BY BETTER GRAIN PRICES. BUT THIS LATEST DIP APPEARS TO BE RELATED TO LOWER LIVESTOCK PRICES, ESPECIALLY FEEDER AND LIVE CATTLE. THE SAME SURVEY OF THE 400 PRODUCERS ASKED ABOUT FARMER'S PROFITABILITY OVER THE NEXT 12 MONTHS. ONLY TEN PERCENT EXPECT PROFITABILITY TO IMPROVE IN THE YEAR. 
CASH MARKET RALLY:
SPEAKING OF CATTLE, A CASH MARKET RALLY IS HELPING PULL FEEDLOT MARGINS HIGHER. LAST WEEK, THE STERLING BEEF PROFIT TRACKER PUTTING AVERAGE PROFITS AT 212 DOLLARS PER HEAD. PACKER MARGINS WERE ALSO HIGHER--NOW AVERAGING 145 DOLLARS EACH. THE FIVE AREA CASH PRICES CLIMBING PUSHING UP TO 129 PER HUNDRED. DAIRY PRICES ARE ALSO STARTING TO CREEP UP.  THE SLOW RISE HAPPENING SINCE MID-MAY--AND NOW IMPROVING THE OUTLOOK FOR DAIRIES IN WHAT LOOKED TO BE A TOUGH YEAR. THAT'S GOOD NEWS SINCE THE RECENT CLASS 3 AVERAGE PRICE OF 12-74 WAS THE LOWEST SINCE SEPTEMBER OF 2009. GLOBALLY, AUSTRALIA, NEW ZEALAND AND THE U-K HAVE ALL SEEN PRODUCTION DECREASES IN RECENT MONTHS.
DOUBTS ABOUT ECONOMY APPARENT TO FED RESERVE CHAIR:
FEDERAL RESERVE CHAIR JANET YELLEN ACKNOWLEDGING A DISMAL JOBS REPORT LAST WEEK....SIGNALLING SHE HAS DOUBTS ABOUT THE STRENGTH OF THE U-S ECONOMY.  DURING A SPEACH THIS WEEK, YELLEN APPEARED TO BACK-OFF FROM EXPECTING A RATE HIKE "IN THE COMING MONTHS", WHICH SHE SAID LAST MONTH.
NATIONAL WEATHER: 

THOSE ARE THE HEADLINES...METEOROLOGIST CINDI CLAWSON IS IN FOR MIKE HOFFMAN THIS WEEK. CINDI IT LOOKS LIKE PARTS OF THE CORN BELT COULD SEE RAN THIS WEEK BUT THERE HAVE BEEN SOME PLACE DRYING OUT? CROP WATCH THIS WEEK...   YES CLINTON WE ARE STARTING TO SEE SOME DRY CONDITIONS IS REALLY POPPING UP IN PARTS OF THE MIDWEST BUT WE'RE REALLY STARTING TO BE CONCERNED ABOUT IS IN THE SOUTHEAST WILL RECEIVE THAT DROUGHT EXPANDING A LITTLE BIT IN TO THE SEVERE CATEGORY A LOT OF CHAINS OUT IN THE WEST WE HAVE BEEN SEEING SOME INCREASED RIGHT NOW IS SPREADING IN JUNE IN MEXICO AND ARIZONA WAS TAKE A LOOK AT THE CHANGE IN THE DROUGHT MONITOR OVER THE PAST MONTH OR SO YOU SEE THAT IN THE SOUTHEAST IT'S THE KIND OF BEEN MOVING A LITTLE BIT FURTHER TO THE WEST AND WERE STARTING TO SEE THAT MORE INTENSE DRYNESS ESPECIALLY OVER THE NORTHEASTERN PART OF ALABAMA NORTHWESTERN GEORGIA ARE LET'S TAKE A LOOK AT WHAT WE HAVE FOR THE WEEK AHEAD AND ON MONDAY
TEASE:

ALRIGHT WHEN WE COME BACK, WE'LL DIG INTO THESE NEW CROP PRODUCTION NUMBERS, LOOK AT WEATHER AND TALK PRICES. OUR ROUNDTABLE DISCUSSION, IS NEXT. 

ROUNDTABLE 1:

WELCOME BACK TO U S FARM REPORT SITTING IN FOR TYNE MORGAN THIS WEEK AND GOT A BRAND OR MISTER PETERS ON THE DESK AND DUSTIN JOHNSON WITH AG YIELD BUT THEY BOTH HAD A BIG WEEK HERE SOME RALLIES WE HAVE THE PRODUCTION REPORT COME FROM U S T EIGHT LET'S START THERE AND WHAT YOU SEE THAT REPORT I SAW A CONTINUATION OF A DOWNGRADE TO CARRY OUT THAT'S THE BIG THING FOR ME WHEN YOU LOOK AT THE AERIAL TRAM OFTEN YOU'LL SEE PRICE HAVE AN INVERSE RELATIONSHIP SO I CARRY A NARROWING AND SOME CORN THE AVERAGE ESTIMATE FOR FIFTEEN SIXTEEN CORN ONE POINT SEVEN SEVEN THREE BILLION SHARES AND ONE POINT SEVEN AWAITS A LITTLE FRIENDLY THEIR BEANS THREE HUNDRED SEVENTY MILLION THE AVERAGE JUST THREE EIGHTY SEVEN WHEAT NINE HUNDRED EIGHTY MILLION ALL RIGHT ON TARGET ITS NEXT THING IT'S INTERESTING AND SOYBEANS EXPECTATIONS FOR TWO HUNDRED NINETY EIGHT MILLION A MINUTE TWO HUNDRED SIXTY SURE DID WRITE THAT NUMBER IS GETTING TIGHT AND WE LOOK AT CORN TWO BILLION EIGHT MILLION TO TWO BILLION BUSHELS TO FOUR HUNDRED MILLION LESS ON HAND TIGHTER IN THE WHEAT HOLDING STEADY AT ABOUT TWO BILLION FIFTY MILLION BUT CAN ANOTHER DOWNGRADE THE CORN.

ROUNDTABLE 2:

WELCOME BACK TO U S FARM BRYAN DOHERTY US AND DUSTIN JOHNSON OUR GUEST HERE AT THE ROUNDTABLE TODAY LET'S LET'S TALK ABOUT LIVE STOCK WILL START WITH YOU THERE IS A PRETTY DECENT RUN THE CATTLE MARKETS ARE ALWAYS IN MY STACKS ARE ALWAYS IN FLUX AND IT'S BEEN AN INTERESTING YEAR IN THE CAPITOL COMPLEX BUT YEAH LET'S SERVE A VERY VERY BIG PUSH HERE LATELY A LOT OF SHORT COVERING JUST JUST A MARKET THAT WAS DOWN AND DOWN AND DOWN ON THOSE MARKETS DOWN SIX MONTHS OR SIX WEEKS MAKE AFTER AN UP OR MORE SO DAIRY PRODUCERS A LOOK AT THE BEST PRICES IN SIX MONTHS AND THEY SHOULD TAKE ADVANTAGE OF THE DAIRY INDUSTRY IS THE NOTORIOUS TRYING TO OVER PRODUCE ITSELF OUT OF LOW PRICES SO I THINK WE'RE STILL IN A BIG PRODUCTION WINDOW BUT THE MARKETS GETTING EXCITED ABOUT HIGH GRAIN PRICES HIGHER MILK PRICES AND DAIRY IS GOOD VALUE.
MARKETS NOW:
LETS FINISH OFF WITH MARKETS NOW THAT WE START WITH DUSTIN JOHNSON ANYTHING I SAY THE BIGGEST THING TO TAKE HOME FROM THE CURRENT ENVIRONMENT IS THAT WE ARE AT GREAT PRICES AGAIN AND THERE'S NOTHING TO BE UPSET ABOUT THAT FOR YOU KNOW YOU WANT TO TAKE A LOOK AT THE SITUATION YOU'RE IN AND MAKE SURE THAT NO PLAN FOR THE WORSE JUST LIKE WHAT HAPPENED LAST YEAR AS LONG AS THE SUSTAINABLE YOU KNOW THERE'S THERE'S NOTHING TO WALK AWAY FROM THIS AND SAY OK I MAKE A MISTAKE OR WAS THIS A GOOD SITUATION YOU'RE BETWEEN A ROCK AND HARD PLACE WHEN IT COMES TO MARKETING AND I WOULD JUST SELL AND NOT LOOK BACK ON WHAT YOUR COMFORTABLE SELLING BECAUSE THIS IS A TWO YEAR HIGH CORN PRICES RAN WELL OR SOMETHING ALONG THOSE SAME LINES
JOHN’S WORLD: JOHN PHIPPS IS BACK FROM A FEW DAYS OFF LOOKING BRIGHT EYED AND BUSHY TAILED. THIS MORNING HE TELLS US WHY YOU SHOULD DO THE SAME.  AS MANY OF YOU HAVE PROBABLY NOTICED, THE LAST FEW WEEKS OF MY COMMENTARY HAVE NOT BEEN PARTICULARLY TIMELY. THAT WAS BECAUSE I TAPED THEM AHEAD TO TAKE A ONCE-EVERY-FIVE-YEARS ANNIVERSARY  VACATION. THIS TIME I MADE A SERIOUS EFFORT TO ISOLATE REALLY, REALLY GET AWAY – AND IT EXCEEDED MY EXPECTATIONS.  DON'T WORRY, I'M NOT GOING TO START RUNNING THROUGH MY VACATION PICTURES, BUT I DO WANT TO ENCOURAGE YOU TO TRY TO MAKE YOUR OWN ESCAPE PLANS. FARMERS ARE NOT KNOWN FOR TAKING ANNAUL VACATIONS. INDEED, WE OFTEN BRAG ABOUT HOW LONG IT HAS BEEN SINCE WE TOOK TIME OFF. BUT MAYBE WE NEED TO RETHINK THAT SUPPOSED VIRTUE. ESPECIALLY IN ESPECIALLY STRESSFUL YEARS LIKE THIS ONE, OUR BRAINS BENEFIT FROM A  BREAK FROM THE WORRY LOAD.  TEASE:
 THANKS JOHN. MORE FROM YOU IN THE NEXT HALF HOUR.  STILL TO COME ON THIS WEEK'S US FARM REPORT, A TRIP TO DES MOINES FOR THE WORLD PORK EXPO, COWBOY POETRY AS ONLY BAXTER BLACK CAN DO, AND A CLASSIC 1948 JOHN DEERE A. WE'LL BE RIGHT BACK AHEAD ON THIS HALF HOUR OF U.S. FARM REPORT
SECOND HALF OPENING HEADLINES:
ADIOS EL NINO--WEATHER WATCHERS SAY A NEW PHENOMENON IS BREWING. COTTON CASH--USDA OFFERS A LIFE-LINE TO CASH STRAPPED GROWERS. PERFECT PIGS--THE PORK INDUSTRY IS RAMPING UP TO KEEP ANIMALS HEALTHY IN THE FACE OF NEW REGULATIONS. BAKING BAXTER BLACK--FROM DROUGHT TO RAIN--BAXTER'S POETIC PROSE. AND TRACTOR TALES--A CLASSIC 48' JOHN DEERE A WITH A PICTURE PERFECT DUSTER.  PREPARING FOR LA NINA:
 NOW FOR HEADLINES... IT APPEARS WE HAVE SHIFTED AWAY FROM EL NINO....AND WE'RE SETTING-UP  FOR THE ON-SET OF LA NINA AS SOON AS THIS SUMMER. THE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION SAYS ENSONEUTRAL CONDITIONS RETURNED OVER THE PAST MONTH. AT THIS POINT, NOAA IS GIVING A 50-50 CHANCE THAT LA NINA APPEARS BETWEEN JUNE AND AUGUST. AND A BETTER THAN 60-PERCENT CHANCE BY LATE SUMMER INTO EARLY FALL. A CHANGE CAN'T COME SOON ENOUGH FOR MANY COUNTRIES SOUTH OR NEAR THE EQUATOR. THEY'VE BEEN DEVASTATED BY THE EFFECTS OF EL NINO. IN THAILAND, FOR INSTANCE, THIS CATTLE HERD IS RUNNING THROUGH WHAT IS  THAILAND'S LARGEST FRESH WATER LAKE. AS YOU CAN SEE IT'S BONE-DRY. WHEN IT'S FULL, THE LAKE IS NEARLY 125 SQUARE MILES. THE GOVERNMENT SAYS EL NINO CAUSED LESS THAN USUAL RAINFALL DURING THE RAINY SEASON OVER THE LAST TWO YEARS.  INDIA HAS ALSO BEEN ABNORMALLY DRY.  LA NINA CAN MEAN DRIER CONDITIONS IN THE U.S. 

NATIONAL WEATHER:
 AND IN THE AREA WHERE INDIANA, MICHIGAN AND OHIO MEET.  METEOROLOGIST CINDI CLAWSON JOINS US NOW. CINDI IT'S GOTTEN HOT ACROSS A LOT OF THE COUNTRY. DO WE EXPECT THAT TO CONTINUE.   WELL CLINTON IS GOING TO CONTINUE ESPECIALLY FOR FOLKS IN THE NATION'S MID SECTION THIS RIDGE HAS BEEN IN PLACE FOR THE PAST SEVERAL DAYS AND WE'RE GOING TO SEE THAT CONTINUE THE COOLER AND MORE STORMY AREAS HAVE BEEN IN THE NORTHEAST AND NORTHWEST GOING TO SEE THAT TREND CONTINUING OVER THE NEXT WEEK AS WELL AS SEE THE BULLSEYE OVER MAINE YOU'VE GOT ANOTHER BULL'S EYE COMING INTO THE NORTHWEST AS WE GET INTO THE MIDDLE PART OF A WEEK THE HEAT WILL CONTINUE TO KIND OF COME AND GO IS FAR IS THAT THE REAL HEAT AND WE START TO SEE THAT BUILDING INTO THE SOUTHWEST MORE SO AS WE GET INTO FRIDAY BUT THEN WATCH AS WE GET INTO SATURDAY AND SUNDAY WE START TO SEE THAT RIDGE BUILDING EVEN A LITTLE BIT FURTHER TO THE EAST HERE'S A LOOK AT A THIRTY DAY TEMPERATURES ARE LIKELY TO BE SEEING SOME ABOVE NORMAL TEMPERATURES IN THE EASTERN PART OF THE COUNTRY AND IN THE WEST COOL TEMPERATURES REMAIN IN PARTS OF THE PLANES AS FAR AS PRECIPITATION WHILE BUT THEN ALL OVER THE PLACE DEPENDING ON WHAT MODEL YOU LOOK AT BUT WE THINK THAT AROUND THE GREAT LAKES IN THE NORTHEAST WILL SEE ABOVE NORMAL PRECIPITATION AS WELL AS ALONG THE GULF COAST AND INTO PARTS OF THE SOUTHERN PLAINS BELOW NORMAL IN PARTS OF MISSOURI AND TENNESSEE RIVER VALLEYS AND ALSO INTO THE PACIFIC NORTHWEST CLINTON COTTON GINNING COST SHARE PROGRAM:

THANKS CINDI, ALSO THIS WEEK, THE AG DEPARTMENT ANNOUNCING PLANS TO HELP U-S COTTON GROWERS STRUGGLING WITH LOW PRICES AND BIG GLOBAL SUPPLIES. USDA SAYS COTTON PRODUCERS WILL SHARE AN ESTIMATED 300 MILLION DOLLARS AS PART OF A COTTON GINNING COST-SHARE PROGRAM. THE ONE TIME PAYMENT IS CAPPED AT 40-THOUSAND DOLLARS PER INDIVIDUAL.  IT WILL HELP DEFRAY PROCESSING COSTS. THE PAYMENT WILL BE ABOUT 40-PERCENT OF AVERAGE GINNING COSTS, BASED ON 2015 COTTON ACRES. COTTON PRODUCERS HAVE FROM JUNE 20 THROUGH AUGUST FIFTH TO SIGN-UP.
JUDGE RULES EPA ACTED WITHIN AUTHORITY TO CANCEL “BELT”:
MEANWHILE, AN ADMINISTRATIVE LAW JUDGE SAYS THE E-P-A WAS WITHIN ITS AUTHORITY TO CANCEL THE REGISTRATION FOR BAYER'S PESTICIDE KNOWN AS "BELT". THE JUDGE SAID EPA TOOK A LEAP OF FAITH IN GRANTING "CONDITIONAL" APPROVAL FOR BELT SEVEN YEARS AGO. THE RULING INDICATES FURTHER DATA HAS SINCE BEEN COLLECTED THAT SUGGESTS ENVIRONMENTAL RISK. EPA ASKED BAYER IN FEBRUARY TO VOLUNTARILY REMOVE THE PESTICIDE FROM THE MARKET. BUT BAYER REFUSED AND ASKED INSTEAD FOR A HEARING BEFORE AN ADMINISTRATIVE LAW JUDGE, WHICH LED TO THE JUNE FIRST OPINION. BAYER IS APPEALING THIS DECISION.
DAIRY PRICES ON THE RISE:
DAIRY PRICES ARE ALSO STARTING TO CREEP UP. THE SLOW RISE HAPPENING SINCE MID-MAY--AND NOW IMPROVING THE OUTLOOK FOR DAIRIES IN WHAT LOOKED TO BE A TOUGH YEAR. THAT'S GOOD NEWS SINCE THE RECENT CLASS 3 AVERAGE PRICE OF 12-74 WAS THE LOWEST SINCE SEPTEMBER OF 2009. GLOBALLY, AUSTRALIA, NEW ZEALAND AND THE U-K HAVE ALL SEEN PRODUCTION DECREASES IN RECENT MONTHS.
DOUBTS ABOUT U.S. ECONOMY EXPRESSED BY FED RESERVE CHAIR:
FEDERAL RESERVE CHAIR JANET YELLEN ACKNOWLEDGING A DISMAL JOBS REPORT LAST WEEK....SIGNALLING SHE HAS DOUBTS ABOUT THE STRENGTH OF THE U-S ECONOMY.  DURING A SPEACH THIS WEEK, YELLEN APPEARED TO BACK-OFF FROM EXPECTING A RATE HIKE "IN THE COMING MONTHS", WHICH SHE SAID LAST MONTH. AFTER THE FIRST QUARTER OF THE YEAR, EXPORTS OF U-S BEEF AND PORK TO FOREIGN PORTS REMAIN STEADY WITH LAST YEARS PACE...AT LEAST IN VOLUME. BUT THE DOLLARS ASSOCIATED WITH THOSE SALES ARE DOWN.
 U.S. MEAT EXPORT VOLUME ABOUT THE SAME NUMBER AS LAST YEAR: THE U-S MEAT EXPORT FEDERATION SAYS 343-THOUSAND METRIC TONS OF BEEF WAS SHIPPED. THAT'S ABOUT THE SAME AS THE FIRST QUARTER OF LAST YEAR. BUT THE VALUE DROPPED BY 13-PERCENT.  ANALYSTS SAW SIGNIFICANT INCREASES IN SHIPMENTS TO CENTRAL AND SOUTH AMERICA, SAYS PORK EXPORTS FROM JANUARY TO APRIL WERE 723-THOUSAND METRIC TONS. AGAIN, THAT'S ABOUT THE SAME AS 2015. BUT THE VALUE FELL NINE PERCENT. U-S-MEF SAYS PORK TO CHINA IS UP CONSIDERABLY FROM A YEAR AGO.
WORLD PORK EXPO:
AS THE PORK INDUSTRY GATHERS THIS WEEK IN IOWA FOR THE WORLD PORK XPO, PRODUCERS ARE ENJOYING STRONG DEMAND AND PRICES. PURDUE AG ECONOMIST CHRIS HURT SAYS PROTEIN MEAL IN THE FIRST QUARTER COST 276-DOLLARS A TON. IT'S NOW 400 DOLLARS. BUT THAT INCREASING DEMAND IN CHINA IS HELPING PRICE LEVELS. HURT SAYS CHINA MAY SOON OVERTAKE JAPAN AS THE WORLD'S TOP PORK IMPORTER.  USDA IS EXPECTING CHINESE PORK IMPORTS WILL GROW FIVE PERCENT THIS YEAR.
PEDV:
ALSO IN PORK, THE INDUSTRY MONITORING A RECENT -BUT LIMITED -OUTBREAK  OF PORCINE EPIDEMIC DIARRHEA VIRUS IN CANADA. A NEW CASE OF P-E-D-V WAS CONFIRMED EARLIER THIS WEEK ON A FARM IN SOUTHEAST MANITOBA.  MANITOBA'S OFFICE OF THE CHIEF VETERINARIAN CONFIRMED THIS WAS THE THIRD CASE OF PED DISCOVERED IN THE PROVINCE SINCE THE END OF MAY.  PEDV -AS YOU REMEMBER -KILLED EIGHT MILLION PIGLETS IN THE U-S TWO YEARS AGO.  ANIMAL HEALTH CONTINUES TO BE TOP OF MIND AT THIS YEAR'S WORLD PORK EXPO.
PENDING ANTIBIOTIC LAWS:
AND PART OF THAT IS DUE TO A PENDING NEW LAW DEALING WITH HOW ANTIBIOTICS GET USED ON THE FARM. NATIONAL REPORTER BETSY JIBBEN HAS DETAILS IN THIS WEEK'S FARM JOURNAL REPORT FROM THE WORLD PORK EXPO. LIVESTOCK OPERATIONS ARE ALL DIFFERENT. BUT COME JANUARY, ONE THING WILL BE THE SAME: THEY WILL ALL HAVE TO FOLLOW THE FDA'S 'VETERINARY FEED DIRECTIVE FINAL RULE.'  JAN 1 2017 IS A REAL. IT'S A REAL DEADLINE. IT'S WHEN THE CHANGES HAPPEN ON THE LABELS  FOR THOSE HUMAN MEDICALLY IMPORTANT ANTIBIOTICS. WE CAN NO LONGER USE THEM FOR GROWTH  PROMOTION PURPOSES.THAT'S BECAUSE THE FDA IS GETTING RID OF DRUGS MEDICALLY IMPORTANT TO  HUMAN MEDICINE USED FOR GROWTH PROMOTION. PREVENTION TREATMENT AND CONTROL ARE CONSIDERED THERAPUTIC AND REQUIRE VETERINARIAN OVERSITE.  THE GUIDELINES ARE STILL SOMETHING IMPACTING THE INDUSTRY AS A WHOLE.  REPORTING AT WORLD PORK EXPO, I'M BETSY JIBBEN. 
TEASE:
THANKS BETSY. THE PORK INDUSTRY LEADERSHIP IS STRESSING A PROACTIVE ADOPTION. THEY RECENTLY LAUNCHED A 'DON'T WAIT...BE READY' NATIONAL AWARENESS AND EDUCATION CAMPAIGN.  YOU CAN GET MORE INFORMATION AT PORK DOT ORG FORWARD SLASH ANTIBIOTICS. NEXT OUR FARM JOURNAL REPORT WILL FORCUS ON A DAIRY PRODUCER IN THE NORTHEAST. THIS YOUNG MAN IS FINDING INNOVATIVE WAYS TO RUN HIS OPERATION AND IT'S HELPED HIM CLAIM THE TITLE OF TOMORROW'S TOP PRODUCER OF THE YEAR. HIS STORY...NEXT WEEK. WHEN WE COME BACK TODAY, A LITTLE, CUSTOMER SUPPORT WITH JOHN PHIPPS.

 CUSTOMER SUPPORT:
"A MESSAGE FOR ALL YOU IN THE UPPER PENINSULA OF MICHIGAN" JOHN PHIPPS FROM HIS FARM IN ILLINOIS MAKING AMENDS FOR A MAPPING MISHAP. APPARENTLY WE HAVE LOYAL VIEWERS IN THE UPPER PENINSULA OF MICHIGAN, WHO NOTICED A SLIGHT DISCREPANCY IN MY MAP OF WHICH STATES HAVE  TOWNSHIPS. THIS FROM LYNN KIHM IN GERMFASK, MICHIGAN: "JUST WONDERED WHY YOU DID NOT COLOR THE UPPER PENINSULA (UP) OF THE STATE OF MICHIGAN RED FOR YOUR TOWNSHIP REPORT BY JOHN, AS YOU DID THE REST OF THE STATE."  AND FROM STEVE SPERA:  TEASE:
THANKS JOHN. WHEN WE COME BACK THE POETIC CHORDS OF THE ICONIC BAXTER BLACK.  MISS ANY OF TODAY'S SHOW? HEAD TO USFARMREPORT.COM TO WATCH THE PROGRAM ONLINE. U.S.  FARM REPORT, THE SPIRIT OF COUNTRYSIDE.  

BAXTER BLACK:
FROM FAMINE TO FLOOD, BLIZZARD TO BOILING ...AG FOLKS KNOW THAT EVEN WHEN WEATHER SEEMS IT CAN NEVER CHANGE, IT EVENTUALLY WILL...AND IT CAN HAPPEN IN A HURRY.  TRUTH BAXTER BLACK KNOWS ALL TOO WELL.  IN FEAST OR FAMINE, AT LEAST EXAMINE THE GAME WE CAME TO PLAY AS A WIN OR LOSE IT'S HOW WE  USE THE CARD COME OUR WAY JUST THE LET HER RAIN THE RANCHER SAID WE BUILT UP QUITE A THIRST  FIGHT AND KNOWS THE LOW ROAD THEY'LL TAKE THEM DOWN THE BURST WILL HAVE THE PLANT THE WHEAT  AGAIN AND CLAIMED THE WATER GAPS BUT YOU WON'T HEAR THIS WILL COMPLAIN IF IT REACHES TO MY  SHAFT IS THERE FRIENDS WE'VE NEEDED THIS WE'VE BEEN SO DRY SO LONG I THOUGHT I'D HAVE TO SELL  COWS AND PAY THE PIPER ON SONG WINTER GRASS LAY STIFF THERE FOR MONTHS AND NEVER CHANGED. 
TEASE:
 THANKS BAXTER. WHEN WE COME BACK, TRACTOR TALES TAKES ON A JOHN DEERE A AND OUR  COUNTRY CHURCH SALUTE...PLEASE STAY WITH US.  NEXT WEEK...WE'RE ON THE ROAD WITH MACHINERY PETE IN CENTRAL INDIANA. HE'LL BE TAKING A LOOK AT SOME RECENT TECHNOLOGY TRENDS AND HOW AN INVESTMENT TODAY CAN IMPACT THE BOTTOM LINE IN THE FUTURE. BUT FIRST, HE JOINS US FOR TRACTOR TALES...STAY WITH US, WE'LL BE RIGHT BACK.   TRACTOR TALES: HEY, FOLKS, THIS WEEK'S TRACTOR TALES FINDS US IN SOUTH CENTRAL MICHIGAN FOR A CLASSIC A. RUSTY SHEAFFER WAS STILL WORKING ON SOME FINSIHING TOUCHES FOR THIS BEAUTY BUT UNFORTUNTELY FOR US, THE A WAS A LITTLE CAMERA SHY AND DIDN'T WANT TO FIRE UP.THIS IS A AWH 1948 WITH A JOHN DEERE DUSTER ON THE BACK OF IT. IT WAS FOR DUSTING THE POTATOES. I BOUGHT THIS DOWN AT THE POLKS IN THE JUNK ROW AND I RESTORED IT AND THE DUSTER WAS A LOCAL PIECE. THAT CAME FROM BELDING MICHIGAN. EVERYTHING ALL THE WAY FROM THE FRONT AXEL TO THE DRAW BAR. TIRES, MOTOR, SHEET METAL, EVERYTHING.
COUNTRY CHURCH SALUTE:

THANKS, RUSTY. THIS WEEK'S COUNTRY CHURCH SALUTE GOES TO THE ST JOHN'S UNITED CHURCH OF CHRIST IN BONGARDS, MINNESOTA. THE CONGREGATION IS CELEBRATING ITS 150TH ANNIVERSARY AT THE END OF THE MONTH. FROM STRIKING STAINED GLASS WINDOWS TO THE LARGE STEEPLE IN THE FRONT, THE CHURCH CATCHES YOUR EYE. THEY TELL US THE 106 MEMBER CONGREGATION IS VERY ACTIVE, EVEN SOWING OVER 75 DRESSES FOR GIRLS IN AFRICA. OUR THANKS TO PENNY ROLF FOR SHARING THEIR STORY. AS ALWAYS WE WANT TO LEARN ABOUT YOUR HOME CHURCH AS WELL...  CROP WATCH:
 STAY WITH US CROPWACH IS NEXT. VISIT MACHINERY PETE DOT COM FOR MORE THAN 100 THOUSAND EQUIPMENT LISTINGS.
CROP WATCH: 

WELCOME BACK TO US FARM REPORT. WE END WITH CROP WATCH AND A COUPLE OF COOL VIDEOS FROM FARM COUNTRY. WE'LL START IN COTTONWOOD ALABAMA. SCOTT PHILLIPS IS OUT SPRAYING PEANUTS AT HIS FARM. HE SAYS SO FAR THINGS DON'T LOOK TOO BAD BUT IT GOT REALLY DRY RECENTLY. THEY'RE HOPPING THE RAIN MATERIALIZES THIS WEEKEND AND ON INTO NEXT  WEEK. USDA SAYS JUST 37 PERCENT OF THE STATE'S PEANUTS ARE IN GOOD TO  EXCELLENT. THE REST IS FAIR. 

CLOSING:
 FOR TYNE, JOHN, AND CINDI, I'M CLINTON GRIFFITHS. THANK YOU FOR WATCHING U-S FARM REPORT. BE SURE TO JOIN TYNE RIGHT BACK HERE AGAIN NEXT WEEK, AS SHE WORKS TO BUILD ON OUR TRADITION. HAVE A GREAT WEEKEND, EVERYONE.       

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close