USFR Weekly Recap - March 21, 2015, 2014, 2015, 2015

March 21, 2015 03:30 AM
 

TODAY ON USFR
MARCH 21-22, 2015

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU. CHANGING THE WAY YOU RANCH. OUR FARM JOURNAL REPORT SHOWS YOU WHY MITIGATING THE CURVEBALLS FROM MOTHER NATURE IS HELPING ONE RANCHER RAISE BETTER COWS.  IN LEAVE A LEGACY, A BUSINESS 30 YEARS IN THE MAKING  WE'LL YOU HOW PERSERVERANCE PREVAILED IN A CROWEDED INDUSTRY, ALLOWING THIS COMPANY TO MAKE ITS MARK. ARE WE IN FOR A HOT AND DRY SUMMER? MIKE HOFFMAN'S 90 DAY FORECAST GIVES US OUR FIRST HINT, AND IN JOHN'S WORLD…
OIL:
IT'S NOT JUST THE STRONG DOLLAR IMPACTING OIL PRICES... IT'S ALSO SUPPLIES.  THE ENERGY INFORMATION ADMINSTIRATION RELEASED WEEKLY NUMBERS THIS WEEK SHOWING U-S OIL INVENTORIES RISING BY 9 POING 6 MILLION BARRELS. THAT MARKS A NEW HIGH.  THAT PRESSURED PRICES, FORCING CRUDE TO A SIX-YEAR LOW, WITH THE APRIL CRUDE CONTRACT HITTING THE 42 DOLLAR HANDLE.
WHEAT:
IT'S NOT JUST THE ICE AND COLD THAT'S HURTING WHEAT CONDITIONS IN PORTIONS OF THE PLAINS. IT'S ALSO DRY WEATHER.  IN OKLAHOMA, 19-PERCENT OF THE WINTER WHEAT CROP IS IN JOINTING STAGE. THE PROPORTION OF THE CROP CALLED GOOD TO EXCELLENT DROPPED BY TWO POINTS. IT'S NOW 40-PERCENT GOOD TO EXCELLENT. IN KANSAS THE CONDITION RATING DROPPED FIVE POINTS. "NASS' SAYS 41-PERCENT IS NOW GOOD TO EXCELLENT. IT WAS 46-PERCENT THE PREVIOUS WEEK.
MONSANTO LAWSUIT:
FARMERS WHO FILED A CLASS ACTION SUIT AGAINST MONSANTO - STEMMING FROM GENETICALLY-MODIFIED WHEAT IN AN OREGON FIELD - HAVE REACHED A SETTLEMENT.
FARMERS IN SEVEN STATES WORKED OUT A DEAL. UNDER THE SETTLEMENT, MONSANTO WILL MAKE DONATIONS OF 50-THOUSAND DOLLARS TO LAND GRANT SCHOOLS IN EACH OF THE STATES WHERE THOSE FARMERS LIVED. THAT MONEY WILL BE PUT TOWARDS WHEAT RESEARCH. IT WAS MAY 2013 WHEN G-M-O WHEAT WAS FOUND IN AN OREGON FIELD. THAT DISCOVERY IMPACTED EXPORTS OF SOFT WHITE WHEAT…HOW THE VARIETY GOT THERE WAS NEVER DETERMINED.
RABOBANK DAIRY:
RABOBANK SAYS A DAIRY PRICE RALLY IS HARD TO JUSTIFY RIGHT NOW. THAT'S AFTER MILK PRICES HAVE TRIED TO MAKE A COMEBACK AFTER SLUMPING LATE LAST YEAR. IN IT'S QUARTERLY DAIRY OUTLOOK, RABOBANK SAYS MILK VALUES MAY NEED TO RETREAT TO AVOID STIMULATING MILK OVERSUPPLY.
PITCH TO MIKE:
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH WEATHER. MIKE, YOU MADE IT BACK FROM VACATION JUST IN TIME FOR US TO COOL BACK OFF A BIT.
TEASE ONE:
THANKS MIKE. WHEN WE COME BACK, BRIAN BASTING AND MIKE FLOREZ ARE HERE TO TALK MARKETS. WE'LL BE RIGHT BACK.
JOHN’S WORLD PITCH:
IT'S THAT TIME OF YEAR... THE BIRDS ARE CHURPING, THE DAYS ARE GETTING LONGER, AND AS THE SNOW MELTS, YOU'RE DISCOVERING WHERE WINTER LEFT ITS MARK.. IN THE FORM OF POTHOLES. BUT FOR JOHN, THIS BLEEDS INTO A MUCH BIGGER DISCUSSION. HERE HE IS NOW.
JOHN’S WORLD:
JWORLD 20 MAR 15 POTHOLES AFTER A PRETTY BRUTAL FEBRUARY, MANY OF US ARE EAGERLY LOOKING FOR THE FIRST BLOOMS OF SPRING. THIS LAST WEEK WE GOT OUR WISH, AND IT LOOKS LIKE WE'RE GOING TO HAVE AN ABUNDANT CROP OF POTHOLES. WHETHER YOUR RURAL ROADS ARE BLACKTOP OR, LIKE OUR FARM LANE, GRAVEL, THESE BONE-JARRING ROAD HAZARDS OPEN UP SEEMINGLY OVERNIGHT, AND CAN DEFY STRENOUOS EFFORTS TO CORRECT. POTHOLES FLOURISH WITH LOTS OF ATTENTION, SO PLACES LIKE THIS - MY LOCAL ELEVATOR - CAN EXHIBIT IMPRESSIVE COLLECTIONS OF UNAVOIDABLE PITS. THERE ARE FEW THINGS AS DISMAYING AS HAVING MADE IT 99 PEERCENT OF THE WAY WITHOUT SPILLING, AND THEN YOU SLOP KERNELS OVER THE SIDE WITHIN IN SIGHT OF THE SCALES. I'M NOT BLAMING THE ELEVATOR - HECK WE CAN'T KEEP UP WITH THE RELATIVELY LIGHT TRAFFIC ON OUR HALF-MILE FARM LANE. MEANWHILE OUR LOCAL ROADS ARE ACTUALLY HOLDING UP SLIGHTLY BETTER THAN I EXPECTED. MAYBE I'M FOOLING MYSELF, BUT I THINK MOST OF US ARE MORE CAREFUL THAN WE HAVE BEEN IN THE PAST ABOUT PUTTING LOADED TRUCKS AND WAGONS ON SOFT ROADS. TO BEGIN WITH, WE KNOW THERE IS NO MONEY TO GET THEM FIXED, AND MOST OF US HAVE LIVED WITH A LOCAL ROAD HAZARD FOR MONTHS IF NOT YEARS UNTIL FUNDS WERE AVAILABLE. I AM LESS OPTIMISTIC ABOUT OUR LARGER ROAD SYSTEM, HOWEVER. IN THE FUROR OVER TAXES, I DON'T SEE MUCH POLITICAL WILL OR CIVIC RESPONSIBILITY TO COUGH UP WHAT IS NEEDED TO BRING DAMAGED ROADS AND WORN-OUT BRIDGES UP TO 21ST CENTURY STANDARDS.  FOR EXAMPLE NOW WOULD BE A ONCE-IN-A-LIFETIME OPPORTUNITY TO ADJUST THE GAS TAX TO FUND ROAD REPAIRS ADEQUATELY. ADDING EVEN 25 CENTS TO FUEL PRICES WOULD HURT LESS WITH PRICES REMARKABLY LOW. IN ADDITION TO PROVIDING FUNDS TO FIX OUR CRUMBLING INFRASTRUCTURE, IT WOULD BE A STEP TOWARD ENCOURAGING FUEL EFFICIENCY AND ALTERNATE TRANSPORTATION CHOICES SUCH AS PLUG-INS.WE'RE COUGHING UP TO BRING IN ROCK AND POUR IT DOWN OUR OWN PERENNIAL POTHOLES BECAUSE NOBODY ELSE WILL DO IT FOR US. WE NEED TO REALIZE THE SAME APPLIES TO THE ROADS OF AMERICA - WE USE THEM, WE SHOULD FIX THEM.
TAG & CLOSE:
THANKS, JOHN. STILL TO COME, WE'LL INTRODUCE YOU TO A FAMILY BUSINESS THAT WEATHERED THE FARM CRISIS OF THE 80S THANKS TO FAITH AND PERSERVERANCE. OUR LEAVE A LEGACY REPORT SHOWS US HOW A STRONG VISION CAN CARRY YOU THROUGH THE GOOD AND THE BAD.
HEADLINES:
WELCOME BACK TO U-S FARM REPORT. WE HAVE MUCH MORE AHEAD THIS WEEKEND. IT PAYS TO BE DIFFERENT. OUR FARM JOURNAL REPORT INTRODUCES YOU TO A RANCHER WHO SAYS MOVING HIS CATTLE INSIDE IS IMPROVING HIS BOTTOMLINE. IN LEAVE LEGACY, IT'S A FERTILIZER COMPANY THAT'S COME A LONG WAY IN 30 YEARS. WE'LL TAKE YOU BACK TO THEIR ROOTS AND SHOW YOU THE LEGACY THEY'RE LAYING OUT FOR FUTURE GENERATIONS. HOT AND DRY? MIKE HOFFMAN'S 90 DAY GIVES US A HINT AT WHAT THE SUMMER COULD HOLD. AND IN CUSTOMER SUPPORT, JOHN PHIPPS ADDRESSES THE AGE GAP IN FARMING.
FARM BILL SIGNUP:
AG SECRETARY TOM VILSACK GAVE AN UPDATE ON THE FARM BILL. HE TOLD A SENATE SUBCOMMITTEE THAT 90 PERCENT OF FARMERS AND LANDOWNERS HAVE CHANGED BASE ACRES AND YIELDS SO FAR. USDA RECENTLY PUSHED THE DEADLINE BACK TO MARCH 31
DEATH TAX:
ALSO OUT OF WASHINGTON, CAHNGING THE ESTATE OR DEATH TAX IS AT THE CENTER OF DISCUSSIONS IN THE HOUSE WAYS AND MEANS COMMITTEE. MEMBERS MET TO DISCUSS REPEALING THE TAX. SEVERAL FARMERS AND RANCHERS WERE ON THE PANEL HIGHLIGHTING THE IMPACT OF THE TAX ON FAMILY BUSINESSES. THE TESTIMONY TALKED ABOUT GETTING CAUGHT BY THE DEATH OF A FAMILY MEMBER EXPLAINING THE CHALLENGES OF LIVING IN AN ASSET RICH, CASH POOR ENVIRONMENT. AMERICA HAS THE 4TH HIGHEST ESTATE TAX IN THE COUNTRY AT 40 PERCENT.
WATERS OF US:
EPA ADMINISTRATOR GINA MCCARTHY SAYS THE CLEAN WATER ACT RULE IS STILL ON TRACK TO BE COMPLETE BY SPRING. WHILE SPEAKING AT THE NATIONAL FARMERS UNION ANNUAL CONVENTION IN WICHITA, MCCARTHY SAYS THE FINAL RULE IS CURRENTLY BEING PREPARED FOR A WHITE HOUSE REVIEW. MCCARTHY SAYS THE FINAL RULE WILL INCLUDE EXTENSIVE GUIDANCE IN QUESTION AND ANSWER FORMAT, INCLUDING PICUTRES TO HELP VISUALLY CLARIFY THE RULE. SHE SAYS EPA IS COMING OUT WITH A RULE THAT'S NOT ONLY REASONABLE, BUT IMPLEMENTABLE.
WATER MONEY:
MEANWHILE, SOME FARMERS IN NORTHERN CALIFORNIA ARE DECIDING TO JUST FORGO PLANTING SOME OF THEIR ACRES THIS YEAR. INSTEAD THEY'RE JUST GOING TO SELL SOMETHING IN SHORT SUPPLY AND HIGH DEMAND: WATER.  A FOURTH GENREATION RICE GROWER SAYS HE'S SELLING A PORTION OF HIS WATER TO SOUTHERN CALIFORNIA FOR 700 DOLLARS PER ACRE FOOT.  AND WITH THE HIT TO RICE PRICES, THE HE SAYS THEY CAN MAKE MORE MONEY SELLING THEIR WATER THAN THEY CAN PLANTING AND HARVESTING A RICE CROP.
TAMING MOTHER NATURE:
JUST SPEND WINTER MONTHS IN THE THROWS OF CALVING SEASON OR FEEDING CATTLE IN THE FRIGID TEMPS, AND YOU KNOW THE WEATHER CAN MAKE RANCHING MISERABLE. WE RECENTLY MET A MICHIGAN PRODUCER LOOKING TO CHANGE THAT ON HIS FARM.  HE FOUND A WAY TO UTILIZE HIS LAND AND SOME BORROWED TECHNOLOGY TO OVERCOME MICHIGAN'S COLD WINTERS,  IN THIS FARM JOURNAL REPORT, NATIONAL REPORTER, BETSY JIBBEN SHOWS HIS EFFORTS TO TAME MOTHER NATURE.
FARM JOURNAL REPORT TAG:
WESTON SAYS THE BARN COST HIM ABOUT A HALF A MILLION DOLLARS.  COMING UP NEXT, WE'RE OFF TO JOHN'S FARM.
CUSTOMER SUPPORT:
STATISTICS CONTINUE TO SHOW AN AGING FARMING POPULATION. BUT IS IT SOMETHING WE SHOULD BE THAT CONCERNED ABOUT? JOHN PHIPPS ASNWERS A VIEWER'S QUESTION FROM THE FARM JOHN…
TEASE:
THANKS, JOHN. YOU CAN SEND QUESTIONS AND COMMENTS TO MAILBAG AT U-S FARM REPORT DOT COM. COMING UP NEXT, IT'S A FARM BUSINESS THAT'S WEATHERED ITS FAIR SHARE OF CHALLENGES. BUT THANKS TO AN IDEA GUY, IT'S PROPERING TODAY. THAT'S LEAVE A LEGACY, COMING UP NEXT.
TRACTOR TALES:
WELCOME BACK. TRACTOR TALES THIS WEEK IS ANOTHER UNIQUE MODEL. ISN'T THAT RIGHT AL? THAT'S RIGHT TYNE. IT'S A 1938 HUBER FROM OUR FRIENDS IN OHIO. THE HUBER COMPANY STARTED BUILDING TRACTORS IN 1898. IN 1942, THEY MOVED TO BUILDING CONSTRUCTION EQUIPMENT TO SUPPORT THE WAR EFFORTS.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE CLEAR CREEK CHURCH OF HUNTINGTON, INDIANA. THE CURCH DATES BACK TO 1839 WHEN MEETINGS WERE HELD IN A MEMBER'S HOME BY A TRAVELING MINISTER. THE CHURCH ACTAULLY CLOSED IN THE 1930S DUE TO A FADING MEMBERSHIP, BUT THANKS TO SOME PERSISTENT MOTHERS, WHO SAW A NEED FOR A FAMILY SUNDAY SCHOOL, THE CHURCH OPENED BACK UP IN THE 1950S. I N OCOTBER, THEY CELEBRATED 150 YEARS OF CHRISTIAN SERVICE. THANK YOU TO MARY LOU BURKHART FOR SHARING THEIR STORY.
GOODBYE:
FOR JOHN, AL AND MIKE, I'M TYNE MORGAN. THANK YOU FOR WATCHING U-S FARM REPORT. BE SURE TO JOIN US RIGHT HERE AGAIN NEXT WEEK, AS WE WORK TO BUILD ON OUR TRADITION. HAVE A GREAT WEEKEND, EVERYONE.

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