USFR Weekly Recap - October 18-19, 2014, 2014, 2014, 2014

October 18, 2014 03:30 AM
 

TODAY ON USFR
OCTOBER 18-19, 2014

HEADLINES:
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN, AND HERE'S WHAT WE'RE WORKING ON FOR YOU. DYNAMIC DAIRY MARKET... IT'S BEEN A FUN RIDE FOR SOME PRODUCERS, BUT HOW LONG WILL IT LAST? FROM THE FARM...JOHN HAS ANOTHER BIG ANNOUNCEMENT. ANOTHER COLD WINTER?  TWO WEATHER GROUPS RELEASE THEIR WINTER FORECASTIN LEAVE A LEGACY, WE'LL INTRODUCE YOU TO A YOUNG MAN GETTING QUITE THE JUMP START ON A SUCCESSFUL CAREER.
STOCK MARKET:
NOW FOR THE NEWS MOVING THE MARKETS.IT'S BEEN A TOUGH WEEK FOR THE STOCK MARKET, AS THE DOW JONES INDUSTRIAL, NASDAQ AND S&P PLUGNED WEDNESDAY.
WTO POULTRY:
A WORLD TRADE ORGANIZATION RULING THIS WEEK COULD OPEN THE DOOR FOR POULTRY EXPORTS TO INDIA. SIONCE 2007, INDIA'S BORDERS ARE CLOSED TO U.S. POULTRY MEAT, EGGS AND LIVE PIGS OVER AVIAN INFLUENZA CONCERNS.  INDUSTRY OFFICIALS SAY THE REAL REASON IS TO RESTRICT MARKET ACCESS FOR U-S GROWERS. U-S TRADE REPRESANTIVES APPEALED THE W-T-O OVER IT, AND JUST THIS WEEK, THE ORGANIZATION AGREED WITH THE U-S. THIS COULD BE HUGE FOR U-S POULTRY PRODUCTS, AS ESTIMATES POINT TO A 300 MILLION DOLLAR MARKET THERE.
PORK VS BEEF:

MEANWHILE, HERE AT HOME, PORK PRODUCTION IS FORECAST TO BEAT OUT BEEF FOR THE FIRST TIME IN MORE THAN 60 YEARS. USDA RAISED ITS 2014 THROUGH 2015 PORK PRODUCTION FORECAST IN ITS LATEST REPORT THE AGENCY FORECASTS COMMERICAL PORK PRODUCTION TO HIT 23-POINT-NINE BILLION POUNDS. THAT'S FIVE PERCENT HIGHER THAN LAST YEAR. THE BEEF OUTPUT COMES IN AT 23-POINT-EIGHT BILLION POUNDS. THAT'S DOWN TWO-POINT THREE PERCENT.
HARVEST:
SOGGY WEATHER IS KEEPING MANY FARMERS OUT OF THE FIELDS. AND THAT MEANS HARVEST IS FALLING WAY BEHIND. CORN HARVEST IS NOW NEARLY 20 POINTS BEHIND AVERAGE, WITH ONLY 25 PERCENT OF THE CROP OUT OF THE FIELD. SOYBEANS ARE ALSO DELAYED, NOW 40 PERCENT HARVESTED. THAT'S DOWN 13 POINTS.
RUNNING OUT OF SOYBEANS:
ALL THIS TALK ABOUT A RECORD CROP AND ONE GROUP SAYS CHINA'S BIG APPETITE FOR SOYBEANS COULD DRAIN WORLD SUPPLIES. L-M-C INTERNATIONAL SAYS IT THINKS WITHIN THE NEXT DECADE, CHINA WILL WANT TO IMPORT MORE SOYBEANS THAN EXPORTING COUNTRIES CAN PRODUCE. AND THAT'S WHY L-M-C THINKS INVESTORS CAN BE BULLISH ON SOYBEAN MEAL PRICES LONG-TERM.
CME EMPLOYEES:
C-M-E GROUP SAYS IT’S LAYING OFF 5 PERCENT OF ITS WORKFORCE, OR ABOUT 150 JOBS, TO REDUCE COSTS.  THE COMPANY, THAT OWNS THE CHICAGO BOARD OF TRADE AND THE NEW YORK MERCANTILE EXHCANGE, SAYS MOST WILL COME FROM THE TECHNOLOGY OPERATIONS AT THE CHICAGO HEADQUARTERS.
PITCH TO MIKE:
THOSE ARE THE HEADLINES... NOW FOR WEATHER MIKE, WE JUST TALKED ABOUT HOW FAR HARVEST IS BEHIND. WILL FOLKS BE ABLE TO MAKE ANY PROGRESS NEXT WEEK?
TEASE ONE:

THANKS MIKE. ETHANOL EXPORTS HAVE IMPROVED, BUT CAN THE MOMENTUM LAST? PETER MEYER AND TED SIEFRID JOIN ME RIGHT HERE AT THE AGRIBUSINESS DESK WHEN WE RETURN.
REOPEN:
YOU'RE WATCHING U.S. FARM REPORT WITH HOST TYNE MORGAN, COMMENTATOR JOHN PHIPPS, AGRIBUSINESS DIRECTOR AL PELL AND METEOROLOGIST MIKE HOFFMAN. U.S. FARM REPORT TRUSTED. TIMELY TRADITION…
JOHN’S WORLD:
AS JOHN SAID, YOU CAN SEND YOUR ENTRIES TO MAILBAG AT U-S FARM REPORT DOT COM. WE ALSO HAVE ALL THE DETAILS LISTED ON OUR WEBSITE, U-S FARM REPORT DOT COM. YOU HAVE THREE WEEKS TO ENTER.
HEADLINES:
WELCOME BACK TO U.S. FARM REPORT - I'M TYNE MORGAN. HERE'S WHAT'S AHEAD. IN OUR "FARM JOURNAL REPORT," DAIRY FARMERS ARE RIDING A WAVE OF HIGHER PRICES. BUT CAN IT LAST? A WINTER OUTLOOK AND IT SHOWS MORE OF THE SAME FOR MANY AREAS THAT WOULD LIKE A CHANGE. IN CUSTOMER SUPPORT, WHY SUBSIDIES? JOHN PHIPPS GIVES HIS THOUGHTS. AND IN TRACTOR TALES - WE'LL SHOW YOU A TRACTOR THAT HAS A SPECIAL MEANING TO ONE MARRIED COUPLE.

AGDRONES:
NEW RESEARCH SHOWS THE AG DRONE MOVEMENT COULD GROW INTO THE BILLIONS OVER THE NEXT 10 YEARS.LUX RESEARCH PREDICTS THE MARKET FOR COMMERCIAL UAV'S WILL HIT 1 POINT 7 BILLION DOLLARS BY 2025.AND THE MAIN DRIVER WILL BE AGRICULTURE. THE FIRM DOES SAY REGULATION REMAINS THE BIGGEST OBSTACLE FOR THE GROWTH.
USDA EPA WEED RULES:
THE BIGGER STORY IN ALL OF THIS IS THE GOVERNMENT'S PLAN TO HELP COMBAT RESISTANT WEEDS. ALONG WITH THE ENLIST ANNOUNCEMENT, E-P-A AND USDA SAYS N-R-C-S IS CREATING A NEW SET OF SUGGESTED GUIDELINES FOR FARMERS TO FOLLOW. AS WELL AS VARIOUS PROGRAMS TO HELP FARMERS.THAT INCLUDES FINANCIAL ASSITANCE AVAILABLE THROUGH NRCS UNDER THE ENVIRONMENT QUALITY INCENTIVES PROGRAM.
SEED TREATMENT:
THE BIGGER STORY IN ALL OF THIS IS THE GOVERNMENT'S PLAN TO HELP COMBAT RESISTANT WEEDS. ALONG WITH THE ENLIST ANNOUNCEMENT, E-P-A AND USDA SAYS N-R-C-S IS CREATING A NEW SET OF SUGGESTED GUIDELINES FOR FARMERS TO FOLLOW. AS WELL AS VARIOUS PROGRAMS TO HELP FARMERS.THAT INCLUDES FINANCIAL ASSITANCE AVAILABLE THROUGH NRCS UNDER THE ENVIRONMENT QUALITY INCENTIVES PROGRAM.
WINTER FORECAST:
IN CROPWATCH, ACCUWEATHER RELEASED ITS WINTER FORECAST. AND IF YOU DIDN'T LIKE LAST YEAR'S WEATHER, WELL, YOU WON'T BE TOO HAPPY THIS YEAR, EITHER. IT SAYS COLD AIR AND HIGH SNOW AMMOUNTS WILL DEFINE THE SEASON, AGAIN. ACCUWEATHER PREDICTS COLD IN A LARGE PORTION OF THE CORN BELT. AND HAS AN ICE AND SNOW THREAT IN THE SOUTH, WHICH INCLUDES THE SOUTHERN PLAINS THROUGH THE TENNESSEE VALLEY. ACCUWEATHER THINKS THE NORTHEN PLAINS WILL BE A MIXED BACK WITH VARIABLE TEMPERATURES. AND IT'S MORE OF THE SAME FOR THE WEST, WITH ACCUWEATHER CALLING FOR A MILD AND DRY WINTER, BUT WETTER THAN NORMAL IN SOUTHERN CALIFORNIA.
 NOAA FORECAST:
THE NATIONAL OCEANIC AND ATMOSPHERIC ADMINSITRATION, OR NOAA, ALSO PUT OUT ITS EXPECTATIONS FOR THIS WINTER. IT SHOWS A COLDER-THAN-NORMAL SEASON FOR THE MAJORITY OF THE SOUTH AND ABOVE NORMAL IN THE WEST. AS FOR PRECIPATION, NOAA THINKS DRIER CONDITIONS WILL PERSIST IN THE PACIFIC NORTHWEST, BUT A WAVE OF WETTER WEATHER FOR THE SOUTH.NOAA THINKS THE MAJORITY OF ILLINOIS, INDIANA, MICHIGAN AND WISCONSIN WILL ACTUALLY BE DRIER THAN NORMAL.
CUSTOMER SUPPORT:
WE HAVE A COUPLE REALLY GOOD VIEWER QUESTIONS. AND JOHN'S HERE WITH THE ANSWERS. JOHN.
TEASE:
JOHN WANTS TO HEAR YOUR QUESTIONS, OR EVEN COMMENTS, EACH WEEK. YOU CAN SEND THOSE TO MAILBAG AT U-S FARM REPORT DOT COM.  UP NEXT, STARTING A FARMING LEGACY BEFORE YOU CAN EVEN DRIVE...WE HAVE AN 11-YEAR OLD'S STORY NEXT.
BOY COTTON FARMER LEGACY:
THE LAST AG CENSUS SHOWED THE AVERAGE AGE OF THE AMERICAN FARMER TODAY, IS 58.
WHILE SOME OPERATIONS ARE STRUGGLING TO FIND A FAMILY MEMBER WHO EVEN WANTS TO COME BACK AND FARM, FOR ONE TEXAS FAMILY, IT'S EASY. JESSICA DOMEL WITH TEXAS FARM BUREAU INTRODUCES US TO AN 11-YEAR OLD COTTON FARMER WHO ALREADY HAS FARMING EXPERIENCE UNDER HIS BELT.
TRACTOR TALES:
AL, I UNDERSTAND THIS WEEK'S TRACTOR IS PRETTY SPECIAL TO ONE MARRIED COUPLE. THAT'S RIGHT, TYNE; OUR NEXT CLASSIC IRON WAS AN IMPORTANT PART OF THEIR WEDDING CEREMONY.
CHURCH SALUTE:
TODAY'S COUNTRY CHURCH SALUTE GOES TO THE FIRST PRESBYTERIAN CHURCH OF ELK RAPIDS, MICHIGAN. CELEBRATING 140 YEARS, THE CHURCH GOT ITS START IN 1874.
IT MAY BE A SMALL-TOWN CHURCH, BUT HAS A STRONG MEMBERSHIP. THE ENTIRE TOWN HAS A POPULATION OF JUST OVER 1600, AND THE CHURCH HAS AN IMPRESSIVE MEMBERSHIP OF 430. WITH A VIBRANT VACATION BIBLE SCHOOL EACH YEAR, AND A VERY ACTIVE MINISTRY, THE CHURCH TRIES TO ATTRACT MEMBERS OF ALL AGES.  OUR THANKS FOR DONALD REYNOLDS FOR SHARING THEIR STORY…
CROP WATCH:
WELCOME BACK TO U.S. FARM REPORT. MIKE HOFFMAN JOINING ME FOR CROPWATCH… SOME REALLY GOOD PHOTOS AGAIN THIS WEEK, SO LET'S GET RIGHT TO THOSE. MATT MANAHAN FROM ONARGA IL, WHICH IS IN IROQUOIS COUNTY, SAYS HE SHOT THIS PHOTO AFTER A LITTLE RAIN DELAY. AND HE SAYS IF THERE'S ONE PHOTO THAT SAYS IT ALL ABOUT OUR GROWING CONDITIONS THIS YEAR, THIS IS IT. LOOK AT THAT MIKE, IT LOOKS LIKE THE RAINBOW IS A POT OF GOLD INTO THE COMBINE, THE CORN ACTUALLY LOOKS LIKE A POT OF GOLD. SO, APPARENTLY CONDITIONS HAVE BEEN GOOD THIS YEAR. MATT MANAHAN FROM ONARGA IL, WHICH IS IN IROQUOIS COUNTY, SAYS HE SHOT THIS PHOTO AFTER A LITTLE RAIN DELAY. AND HE SAYS IF THERE'S ONE PHOTO THAT SAYS IT ALL ABOUT OUR GROWING CONDITIONS THIS YEAR, THIS IS IT. LOOK AT THAT MIKE, IT LOOKS LIKE THE RAINBOW IS A POT OF GOLD INTO THE COMBINE, THE CORN ACTUALLY LOOKS LIKE A POT OF GOLD. SO, APPARENTLY CONDITIONS HAVE BEEN GOOD THIS YEAR. ALVIN BERNING SENT US THIS. IT'S OF BRYCE ON THEIR FAMILY FARM NEW BOTKINS, OHIO. WELL, A CUTE PHOTO AND LOOKS LIKE A PRETTY GOOD SOYBEAN FIELD. THOSE SOYEBANS LOOK LOADED. AND ANOTHER CUTE PHOTO, LAURA GREENLEY FROM NORTHEAST MISSOURI POSTED THIS TO OUR FACEBOOK PAGE. SHE SAYS HER 1 YEAR-OLD SON, THE 4TH GENERATION ON THE FAMILY FARM, WATCHES AS GRANDPA DUMPS DADDY'S BEANS. LIKE A TRUE FARM BOY, ONE OF HIS FIRST WORDS WAS TRACTOR. I DO KNOW LAURA, AND SHE HAS TWINS, HE HAS A SISTER. AND WE'LL END THE SHOW ON A MAMMOTH PUMPKIN. IT'S FROM THE WORLD PUMPKIN CAPITAL, WHICH IS HALF MOON BAY,C ALIFORNIA. DIDN'T EVEN KNOW THERE WAS A CAPITAL. THE GROWRE OF THIS THING IS FROM NAPA, CALIFORNIA. IT HIT A NEW NORTH AMERICAN RECORD OF 2,058 POUNDS.CAN YOU IMAGINE…HOW DO YOU MOVE THAT THING? I DON'T THINK YOU DO WITHOUT A TRACTOR. WOW. THAT'S AMAZING. WELL THANK YOU FOR WATCHING. THANK YOU FOR SENDING US THOSE PHOTOS. YOU CAN DO THAT ON FACEBOOK, TWITTER OR ALWAYS EMAIL US THOSE.
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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