USFR Weekly Recap - December 9-10, 2017

December 9, 2017 03:30 AM
 
USFR_Logo

TODAY ON U.S. FARM REPORT
DECEMBER 9-10, 2017


HEADLINES
WELCOME TO U.S. FARM REPORT THIS DECEMBER  WEEKEND. I'M TYNE MORGAN, AND HERE'S WHAT'S IN  STORE.  AS FARMERS' FEELINGS ABOUT THE AG ECONOMY FADE,  FARMLAND PRICES MAY BE ON THE WAY UP.  <. THIS IS ACTUALLY THE FIRST TIME IN THE SURVEY'S HISTORY THAT A  LARGER SHARE PRODUCERS EXPECT HIGHER FARMLAND VALUES> FARMERS MAY BE ON THE CUSP OF DISCOVERING AG  TECHNOLOGY, BUT THERE'S A GAP WHEN FINDING OUT  WHAT WORKS AND THE ROI.  <A LOT OF TECHNOLOGY IS BEING DEVELOPED LOOKING FOR A  PROBLEM VERSUS PROBLEMS LOOKING FOR TECHNOLOGY.> BUT WHAT'S NEXT? THAT'S OUR FARM JOURNAL  REPORT. AND IN JOHN'S WORLD...NET NEUTRALITY... AGAIN.  <U.S. FARM REPORT - BROUGHT TO YOU BY THE DEPENDABLE, LONG  LASTING, CHEVY SILVERADO.>

PURDUE/CME GROUP AG BAROMETER
NOW FOR THE NEWS , AS HARVEST WRAPS UP AND CORN PRICES STRUGGLE, FARMERS ARE GROWING  LESS OPTIMISIC ABOUT THE FUTURE.  AND THAT LED TO A DECLINE IN THE LATEST AG  ECONOMY BAROMETER SHOWS THE NOVEMBER  READING HIT THE SECOND LOWEST OF HTE YEAR, AT  128. THAT'S A 7 POINT DECLINE FROM OCTOBER.  BUT IT'S THE OUTLOOK ON TEH FUTURE THAT'S WANING.    THE SURVFEY ASKED PRODUCERS WHETHER THEY  EXPECTED GOOD OR BAD TIMES FINANICLALY FOR THE  AG ECONOMY OVER TH E NEXT 12 MONTHS.  62 PERCENT SAID THEY THOUGHT THE NEXT 12 MONTHS  WOULD BE BAD.. UP FROM THE 50 PERPCENT WHO  RESONDED THAT WAY IN JULY. THE SURVEY ALSO SHOWING A POSSIBLE UPTICK IN  OVERALL FARMLAND VALUES.   <ON A QUARTERLY BASIS PRODUCERS ARE ASKED ABOUT THEIR  EXPECTATIONS FOR FARMLAND VALUES IN THEIR LOCAL MARKET. IN  NOVEMBER SURVEY 21 PERCENT OF RESPONDENTS TOLD US THEY  THOUGHT FARMLAND VALUES WOULD BE HIGHER IN NOVEMBER 2000 18  THIS IS UP FROM 19 PERCENT LAST FEW TIMES THIS QUESTION HAS BEEN  ANSWERED. ON THE OTHER END OF THE SPECTRUM 17 PERCENT OF  RESPONDENTS TOLD US THEY THOUGHT FARMLAND GUYS WOULD BE LOWER.  THIS IS ACTUALLY THE FIRST TIME IN THE SURVEY'S HISTORY THAT A LARGER  SHARE PRODUCERS EXPECT HIGHER FARMLAND VALUES THAN LOWER  

NAFTA CONCERNS
PRODUCESR ALSO EXPRESSING LESS CONFIDENCE  ABOUT NAFTA'S IMPORTANCE TO THE OVERALL AG  ECONOMY. 70 PERCENT RSPONDED THAT NAFTA IS  IMPORTANT, BUT 20 PERCENT CLASSIFED IT AS  NEUTRAL. THE FATE OF NAFTA IS STILL UNCERTAIN, BUT NOW  ECONOMSITS AT GOLDEN SACHS EXPECT PRESIDENT  TRUMP TO WITHDRAW FROM NAFTA IN THE NEW YEAR.  THE ECONOMISTS CITING KEY DEMANDS FROM THE U-S  THAT APPEAR TO BE NONSTARTERS FOR CANADA AND  MEXICO. 

U.S. MEAT EXPORTS
U-S MEAT EXPORTS CONTINUE ON ITS IMPRESSIVE  PACE.  U-S MEAT EXPORT FEDERATION SAYS DURING HTE  MONTH OF OCTOBER, PORK EXPORTS HIT THE LARGEST  SINCE MAY, AT 211 THOUSAND METRIC TONS. THAT'S  5  PERCENT ABOVE LAST YEAR, AND VALUE WAS UP 8  PERCENT.  MEXICO BUYS WERE UP 7 PERCENT FROM LAST YEAR,  AND SHIPMENTS TO SOUTH AMERICA HIT A NEW HIGH,  WHICH WAS LED BY COLOMBIA AND CHILE.  BEEF EXPORTS ALSO SEEING GROWTH, UP 7 PERCENT  FROM LAST YEAR. BUT TEH VALUE OF THOSE EPXPORT  HIT A NEW RECORD. AT 979 MILLION DOLLARS, THAT'S 20  PERCENT ABOVE LAST YEAR. EXPORTS TO HONG KONG CLIMBED 12 PERCENT. AND  SHIPMETNS TO SOUTH KOREA WERE UP 2 PERCENT. 

BIOFUELS, RFS IN WASHINGTON
AFTER A BATTLE OVER CHANGING OR NOT CHANGING  THE R-F-S, LEGISLATORS FROM MAJOR OIL PRODUCING  STATES CRITICAL OF EPA'S REQUIPREMENT FOR  ETHANOL USE. JUST THIS WEEK, SENATORS INCLUDING TED CRUZ OF  TEXAS MET WITH THE PRESIDENT AT THE WHITE HOUSE  OVER THE BIOFUEL MANDATE. BLOOMBERG REPORTING THE PRESIDENT URGING  REPUBLICANS TO SETTLE THEIR DIFFERENCES, WITH NO  RESULTION BEING MADE.  THE BIG RUB IS OVER RENEWABLE INDENTICICATION  NUMEBRES, OR RINS. THOSE ARE TRADEABLE CREDITS  USED WITH BIOFUEL QUOTAS. ONE POSSIBILITY IS  PUTTING A CAP ON ON THE PRICE OF RINS.  AS THE BIODISEL INDUSTRY IS FRUSTRATED THAT EPA   DIDN'T GROW BIODIESEL IN ITS FINAL RFS NUMEBRS,  THE U-S TAKING STEPS TO TEMPER IMPORTS OF  BIODIESEL.  THE U-S INTERNATIONAL TRADE COMMISSION RULING  THAT ARGENTINE AND INDONESIAN SUBSIDIES ARE  HARMING U-S PRODUCERS. CLAIMS ARE THAT THE  CHEAPER FUEL IS BREAKING INTERNATIONAL TRADE  RULES.  THAT NOW ALLOWS THE COMMERCE DEPARTMENT TO  INTRODUCE COUTNERVAILING DUTIES ON IMPORTS  FROM TEH TWO COUNTRIES. 

WEATHER
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW FOR WEATHER. MIKE, YOU  WARNED US... IT WAS GOING TO GET COLD... AND THAT  IT DID. THANKS TYNE AND WE'RE GOING TO REMAIN IN THAT COLD  PATTERN FOR AS FAR AS I CAN SEE AT THIS POINT FOR AT LEAST THE NEXT  COUPLE OF WEEKS SOMETIMES RIGHT PATTERN OR COLD PATTERNS ARE  ALSO DRY PATTERNS AND THAT'S WHY WE CONTINUE TO SEE WORSENING  CONDITIONS FOR NORTHEAST TEXAS NORTHERN LOUISIANA ACROSS  ARKANSAS EASTERN OKLAHOMA INTO SOUTHERN AND EAST CENTRAL  MISSOURI AS THE DROUGHT HAS BEEN EXPANDING. LET'S GO BACK A  MONTH. YOU CAN SEE HOW MUCH LESS THERE WAS. WE WERE ALREADY  CONCERNED ABOUT IT THEN. BUT IT HAS BEEN EXPANDING. AS YOU CAN  SEE OVER THE PAST FOUR WEEKS AND IT'S BEEN EXPANDING ALSO IN  PARTS OF THE SOUTHEAST ASPECTS OF THE CAROLINAS INTO GEORGIA  REALLY HASN'T GOTTEN ANY WORSE BUT IT HASN'T TOTALLY GONE AWAY.  ACROSS THE NORTHERN PLAINS INTO MONTANA AS FAR AS THE DROUGHT IN  THAT AREA LET'S GO DAY BY DAY THIS WEEK. NOTHING MAJOR SHOWING  UP THIS WEEK. NOW WHEN I SAY THAT THERE'S NO BIG STORMS NO BIG  BLIZZARDS OR ANYTHING LIKE THAT. THESE ARE ALL WEAK SYSTEMS  DIVING SOUTHWARD IN THE JET STREAM THEN MOVING UP INTO THE  NORTHEAST. MOST OF THESE WILL BE LIGHT BUT SOMETIMES DOWNWIND  FROM LAKE MICHIGAN OR ANY OF THE GREAT LAKES THEY SHOULD SAY  YOU CAN GET SOME PRETTY HEAVY SNOWS. YOU'LL SEE THE LIGHT SNOWS  ON MONDAY IN THE GREAT LAKES AND NORTHERN MISSISSIPPI VALLEY  ALSO IN THE NORTHEAST. YOU CAN SEE THE LIGHT SNOWS AGAIN WITH  ANOTHER SYSTEM IN THE NORTHEAST A LITTLE BIT IN THE EASTERN GREAT  LAKES ANOTHER IN DIVING INTO THE NORTHERN PLAINS. AND BY FRIDAY.  THAT ONE IS OFFSHORE STATIONARY FRONT CAUSING SOME  SHOWERS DOWN ALONG THE GULF COAST AND MORE SNOW SHOWERS  AROUND THE GREAT LAKES WITH THAT NEXT SYSTEM DIVING IN AND  WESTERN CANADA MAY FINALLY BE GETTING A LITTLE BIT OF RAIN AND  SNOW AS WELL. THE WARMTH CONTINUES OUT WEST BY THE WAY. WE'LL  CHECK YOUR LONGER RANGE FORECAST COMING UP DURING OUR NEXT HALF  HOUR.  THANKS, MIKE.

TEASE
WHAT SHOULD BE YOU BE WATCHING  WITHIN THE COMMODITY MARKTS AS WE HEAD INTO THE  NEW YEAR? BOB UTTERBAK AND DUWAYNE BOSSE JOIN  ME NEXT. 

ROUNDTABLE 1
GENTLEMEN LET'S JUST JUMP RIGHT IN.  LET'S LOOK AT THIS CORN MARKET. HAVE WE HIT A LOW BAR.  I THINK THE LOW WAS PUT IN YOU KNOW THE 338 335 BASE THE DEASE BEEN DOOR SHUT. NOW WE'RE COME IN DECEMBER SUPPLY DEMAND REPORT. EXPORTS WILL PROBABLY BE BACKED OFF. BUT THE PROBLEM IS IS THAT WE GOT THE DS JAN FEB CASH FLOW. I THINK THE RISK IS THE MARCH COMES AFTER THE DEC AND THEN WE TRY TO RALLY MAYBE FROM MARCH 1 ON SUMMER WEATHER. BUT THE RISK IN THIS MARKET IS BACK IN FALLS AND THE FRONT END WITHOUT WEATHER. WHY IS THAT THE CASE.  WELL I MEAN IT COULD BECAUSE OF THE CARRY IN THE MARKET AND THE FUNDS ARE SHORT RIGHT NOW IF THEY WANTED TO. LIKE THEY DIDN'T WAIT YEARS AGO THEY CAN JUST ROLL THEIR SHORT POSITIONS FROM DECEMBER TO MARCH AND JUST WATCH THAT CARRY WROTE DOWN. AND I'VE MENTIONED THAT A COUPLE OF MONTHS AGO THAT I DON'T THINK THAT WILL HAPPEN THE SEASON TENDNECY IS THAT GROWING HIGHER AND LIKE BOB MENTIONED THAT THE FARMERS HAVE GOT THE BEN DOORS WELDED SHUT IF ANYTHING. SO THERE'S NOT MUCH FARMERS SELLING BUT EVERY 10 CENT POP BOOM PLUS A FARMER SELLING WE HAVE NOT SEEN A LOT OF THAT.  SO WE KNOW THAT THAT'S KIND OF BEEN TAPPING SOME OF THESE RALLIES RIGHT. AND WILL THAT CONTINUE TO BE THE CASE.  IN RECENT WE'VE SEEN SOME BASIS IMPROVEMENT AT THE RIVER BASICALLY SOME TUCAN AND PEOPLE HAVE BEEN WANTING TO CONTROL CORN BECAUSE THEY CAN'T BECAUSE THE FARMERS IN THAT SIGN. SO THE QUESTION IS HOW BIG OF A BOUNCE DO YOU HAVE TO HAVE BEFORE YOU RELEASE. I DON'T THINK FARMERS ARE GOING TO RELEASE AMATORY INTO APRIL MAY JUNE AND I THINK THERE'S GOING TO BE A LOT OF OLD CROP CORN IN CENTRAL AND EASTERN CORN BUT NOT IN SOUTH KOREA. WE CAN TALK ABOUT BUT GUYS ARE IN NO MOOD TO SELL CORN EARLY. THEY WANT TO MAINTAIN A HOLD BECAUSE THEY STILL BELIEVE THERE'S GOING TO BE A NIGHT IN CHINA ARM BECOMES RESCUERS COLD COLD WEATHER.  SO COULD WEATHER BE THAT KNIGHT IN SHINING ARMOR I MEAN REALLY WHAT ARE THOSE BLACK SWAN EVENTS. I KNOW YOU KNOW THOSE ARE THE UNKNOWN AS WELL WHAT COULD HAPPEN POSSIBLY THAT WE'RE NOT EVEN TALKING ABOUT THAT COULD MAKE SOME RUMBLES IN THIS MARKET AS FAR AS THE CORN MARKET GOES ACTUALLY I THINK IT'S STARTING ALREADY WITH THE LA NIÑA AND INFORCE HERE AND THE DROUGHT IN ARGENTINA AND BRAZIL. EVERYONE  WANTS STOCK BEANS AND BEANS WILL RALLY FIRST BECAUSE THAT'S WHERE THE MONEY FLOW GOES BUT HONESTLY IT COULD BE A BIGGER REDUCTION IN CORN PRODUCTION DOWN THERE THAN SOYBEANS ON A PERCENTAGE BASIS. AND REMEMBER WORLD STOCKS ARE DOWN ABOUT 20 MILLION METRIC TON IN CORN THIS YEAR. WE FEEL LIKE THERE'S A GLUT OF CORN AND THERE IS IN THE U.S. BUT OVERALL IN THE WORLD WE ARE DOWN. SO I THINK WE CAN GET A BIT OF A RALLY HERE LATER ON THIS QUARTER.  AND THERE'S ANOTHER PUZZLE THAT IS BUILDING BECAUSE I'M GETTING POSITIVE RIGHT NOW. I'M TRYING TO GIVE YOU A POSITIVE CHRISTMAS LAST CHRISTMAS I WAS ABOUT TO MARK THE CALENDAR ON IS OIL AND THE CRUDE OIL MARKET IS FIRMING UP AND IF YOU LOOK AT HISTORICAL STUDIES BETWEEN OIL AND BEANS AND OIL AND CORN OIL IS A LEADER OF OIL CAN RALLY THAT CAN PULL THAT CORN UP. NOW THE PROBLEM IS IF THE EQUITIES TOP OUT WELL THE EQUITY MONEY COME OVER TO THE COMMODITIES THAT WOULD BE SOME ARGUMENT THERE COULD BE THE HOUSE BE THERE FOR THAT TOO.  BUT WHAT WOULD YOU SAY WOULD BE A GOOD PRICE THAT YOU KNOW IF YOU SEE THIS FARMERS NEED TO ACT LIKE REALLY WHAT WOULD BE A DECENT PRICE YOU THINK THAT FARMERS COULD GET.  ACTUALLY YOU KNOW WHEN BOB WAS MENTIONING FARMERS SELLING OIL HAPPEN I THINK WILL HAPPEN EVEN ON THE TEN CENT POP. I THINK WE THOUGHT THIS WEEK WE GOT TO 360 MARCH AND ALL OF SUDDEN WE PULL BACK DON'T AND WE'RE GOING TO GO TO 362 AND THEN PULL BACK DOWN. I ACTUALLY I'M HEARING IN THE WESTERN PART OF THE CORN BELT ANYWAY FARMERS ARE GOING TO BE MUCH MORE AGGRESSIVE THIS YEAR. SO THEY TELL ME NOW SELLING THIS OLD CROP BECAUSE THEY DON'T WANT TO WAIT UNTIL AUGUST AND SEPTEMBER AND BE STUCK LIKE THEY DID THIS LAST.  IT JUST SEEMS LIKE BOB WE HAVE THIS FEAR OF MISSING OUT. YOU KNOW LIKE WE DON'T WANT TO SELL BECAUSE THESE PRICES COULD GO HIGHER. SO IF YOU HAVE THAT MENTALITY WHICH UNDERSTANDABLY YOU KNOW WE WE KNOW WHY THAT'S THE CASE. WHAT COULD A FARMER DO. WHAT TOOLS ARE AT THEIR FINGERTIPS THAT COULD MAKE THEM FEEL COMFORTABLE TAKING ACTION.  IN MY HISTORY A FARMER CAN'T SELL NEXT YEAR UNLESS HE'S GOT THIS YEAR OR SO. SO THE FIRST THING IS WE'VE GOT TO GET WHAT WE GOT PRICE. AND SO I WOULD SUGGEST THAT THE FOCUS ON PRICING THEIR PRODUCT AND THEN SOMETIME BETWEEN FEBRUARY AND MARCH SEES NO LOWS BY THE MARKET FOR A SUMMER BOUNCE BY A CALL LIMITED LIMIT YOUR RISK. SO YOU DON'T HAVE THAT WOULD BE ONE WAY TO GET IT DONE. BUT THE BIG STORY IS THERE IS BIG KERRY IN A MARKET THESE 19 CORN ABOVE 420 THE 350 COS IS ALMOST A 200 ACRE PROFIT AND I'M I'M TRYING TO ENCOURAGE FARMERS TO SELL THAT DEFERRED. AND THEN BY THE FRONT END AGAINST WEATHER SCARE. WELL I DIDN'T PLAN ON SPENDING THE ENTIRE FIRST SEGMENT TALKING ABOUT CORN BUT THAT'S THE CASE WE NEED TO TAKE A QUICK BREAK AND WHEN WE COME BACK WE HAVE A LOT MORE GROUND TO COVER SO DON'T GO ANYWHERE.

ROUNDTABLE 2
WELCOME BACK. WELL MOVING FROM CORN NOW TO SOYBEANS WE SAW SOME PRESSURE THIS WEEK IN SOYBEANS. WHAT HAPPENED WHAT WAS THE CASE.  I THINK THIS WEEK MAY HAVE BEEN MORE OF A GENERAL COMMODITY SELL THAN ANYTHING. THERE WAS A LITTLE BIT OF PRESSURE ON CRUDE OIL. YOU HAD OUTSIDE EQUITIES DOWN A LITTLE BIT YOU HAVE THE CHINESE MARKET DOWN. THEIR FUTURES MARKET FOR SOYBEANS DOWN TO A NINE AND A HALF YEAR LOW. SO THAT PUTS SOME PRESSURE BUT WE HAD HAD A NICE RALLY TOO AND WE GOT TO THAT WHAT WAS IT 10 10 JANUARY BEANS. WE HAD SOME FARMERS SELLING THERE. NO DOUBT ABOUT IT AND THAT PUT PRESSURE BACK ON THE MARKET AT 10 10.  IS IT WISE FOR FARMERS TO SELL AT THAT PRICE. I THINK FARMERS HAVE USED BEES AS A CASH FLOW MECHANISM. I THINK INVENTORIES BEEN MOVED AMINES MUCH BETTER THAN CORN. SO IF LOOKING FORWARD I THINK THERE'S A LIMIT NOV 18 BEING GOT TO 10 20 PLUMS AND THAT GIVES A LOT OF GUYS CLOSE TO ON CASH BEANS WITH A 930 COST. NOW THAT WE'RE TALKING SHADE OF A 100 DOLLAR PROFIT. SO I THINK YOU NEED TO CONSIDER BUT IF YOU WANT TO BE. IF YOU'RE LOOKING FOR SOMEPLACE TO BE FRIENDLY I LIKE THE OLD CROP NEW CROP SPREADS NEXT APRIL MAY. I THINK THERE'S A SHOT THAT OKRA BEANS COULD BE TIGHTER AND I WOULD WANT TO BE LONG THE MAY OR JULY BEING CONTRACT AGAINST BACK AND NO YOU AGREE WITH THAT.  ON THE SAME LINES THERE. YEAH I TALKED TO A FEW FARMERS THIS WEEK WHEN THE MARKET WAS RALLYING EARLIER AND THEY SAID WELL OF COURSE SOYBEANS L.A. I'VE ALREADY SOLD THEM. SO TO THAT POINT I THINK THEY USE THAT AS CASH FLOW STORE THE CORN THEY MADE MONEY ON SOYBEANS AND I WAS FINE AS THEY GO IT AND SELL IT AS LONG AS YOU'RE MAKING MONEY THE CORE AND THEY'RE GOING TO HANG ONTO FOR A GRIM DEATH. SO I AGREE WITH BOB.  WELL WE DON'T KNOW WHERE PRICES ARE HEADING BUT BOB YOU RECENTLY TALKED TO CHRIS HURT FROM PURDUE WHEN WE HAD HIM ON THE SHOW FROM TIME TO TIME. BUT DOES HE THINK THAT YOU KNOW WE'RE GOING LIKE THIS IS A KIND OF A THREE YEAR CYCLE THAT WE'RE GOING TO GET OUT OF PRETTY QUICKLY AND TO SEE THINK THIS IS GOING TO BE MORE LONG TERM WHEN WE LOOK AT THE OVERALL DOWN ECONOMY. RIGHT  NOW I HATE TO PUT WORDS IN CHRIS' MOUTH BUT YOU KNOW CHRIS I KNOW QUITE A BIT ABOUT YOU KNOW THE THINGS THAT I THINK A LOT OF THE EGG ECONOMISTS BELIEVE WE'RE IN A CYCLE PERIOD OF CYCLE WHERE IT COULD LAST MORE THAN A ONE OR TWO YEAR. THIS COULD BE A MULTI-YEAR EVENT OF STAGNANT PRICE ACTIVITY BECAUSE WE CAN'T TAKE ACRES OUT OF PRODUCTION RIGHT. WE GOT TO GROW DEMAND AND DEMAND WE DON'T HAVE THE ETHANOL EXPLOSION IN FRONT OF US. SO THE QUESTION IS WHERE IT'S GOT TO BE EXPORT DEMAND BUT ARE THE CHINESE GOING TO LET THEMSELVES GET HOOKED TO OUR CORN LIKE WE GOT HOOKED TO THE SOVIET MADE TO THE MIDEAST OIL DURING THE 80S. AND I WOULD SAY THE CHINESE ARE NOT GOING TO LET THEMSELF GET TIED TO US. THEY'RE GOING TO I THINK USE WE IN THE RED AND BASICALLY HAVE MORE WHEAT IN THEIR FORM AND THEIR ZATION THAN CORN WILL STILL BE A RESIDUAL SUPPLIER. SO THERE'S NO QUESTION CAN WE GET THE BIG DEMAND GROWTH RIGHT. IT WILL BE TO 300 MILLION A YEAR BUT NOT WHAT WE SAW ON ETHANOL GROWTH. SO WE'RE IN YEAR 3 OF A HOW MANY YEAR CYCLE DO YOU THINK HE THINKS 6 7 IF WE KEEP PRODUCING A RECORD CROP YEAR PUSH DOWN FURTHER PROBLEMS. YEAH YEAH. SO THE KEY IS CAN CHINA'S ETHANOL MARKET EXPLOSION. THAT IS THE ACE IN THE HOLE THAT THE BULLS THERE.  AND THAT'S WHAT WE CONTINUE TO TALK ABOUT. ALL RIGHT LET'S SWITCH GEARS FROM CROPS NOW TO LIVESTOCK CATTLE YOU KNOW CATTLE HAVE BEEN SO FUN TO WATCH BUT IT'S AWESOME PRESSURE AS OF LATE. YOU KNOW WHAT IS THAT. IS IT JUST THE FANS ARE REALLY WHAT'S GOING ON WITH THAT.

I THOUGHT IT WAS COMPLETELY JUST THE FUNDS FOR A YEAR THE FUNDS HAVE BEEN LONG EXTREMELY LONG THAT MARKET AND I'VE BEEN JUST WAITING FOR HIM TO PULL BACK OR WORRIED THAT THEY WOULD PULL OUT. AND I THINK YOU GOT TO DECEMBER AND I DON'T KNOW IF IT'S A YEAR IN POSITION SQUIRTED OR IF THEY SEE SOMETHING THEY DON'T LIKE IN THE MARKET THEY'VE BEEN AGGRESSIVELY GETTING OUT OF LONG POSITIONS THAT REALLY COULD HURT THE MARKET THIS WEEK. WHAT ABOUT HOGG'S. I MEAN WE'VE BEEN HEARING ABOUT THESE RISING WAITS YOU KNOW IS THAT GOING TO KIND OF BE FROM THE MARKET FROM MY CLIENTS AND CONTACTS IN THE TRADE. I GET THE PERCEPTION THAT THE BANKERS ARE GETTING WORRIED THAT PROTIC IS BACKING UP OUT THERE AND THEY'RE NOT BULLISH IN THE NEAR TERM. AND THE PROBLEM IS THE LONG TERM IS IF THE GRAIN PRICES ARE STAGNANT NEXT YEAR WE'RE GOING TO WALK THE GRAIN OFF THE FARM ESPECIALLY FOR THESE DAKOTA GUYS YOU DON'T WANT TO THEY'RE GOING TO HAVE TO GO OUT BECAUSE THEIR BASIS IS GOING TO BE SARABHAI THEY HAVE NO ALTERNATIVE. THEY'VE GOT TO WALK IT OFF THE FARM.

YEAH. AND THESE HEAVYWEIGHTS THOUGH YOU'RE CONCERNED ABOUT I MEAN YOU SAY ANYMORE WE'RE NOT JUST SLAUGHTERING HOGS. OH THEY'RE NOT LEAN HOGS ANYMORE I THINK THEY'RE ACTUALLY IT'S SMALL ELEPHANTS. RIGHT NOW WE'RE SELLING THE CARCASS WEIGHTS ARE SO BIG AND OF COURSE WHAT THE PRODUCER DID IS THEY HELD OFF WAITED TO GET A BETTER PRICE GOT THE BETTER PRICE. NOW THEY'RE HEAVIER WEIGHTS SO I'M LOOK FOR A BEARISH HOG MARKET FOR THE END OF THE LEAST END OF THE YEAR.

YOU COULD TAKE ADVANTAGE OF ANY BOUNCES IN THE FIRST HALF OF 18 TO PROTECT THE LAST HALF OF THE TEAM BASICALLY TO BE THE BUYERS. ALL RIGHT HOWARD. TIME FOR A BREAK. WHEN WE COME BACK WE'LL GET THEIR CLOSING THOUGHTS. DON'T GO ANYWHERE.

MARKETS NOW
ALL RIGHT WELCOME BACK. TIME NOW FOR CLOSING THE FUNCTION OF THE MARKET IS WHEN MARKETS GIVES YOU SIGNALS TO SELL CARRY, CARRY YOU SHOULD SELL CARRY. THERE'S BIG HERE IN THE CORE MARKET. SO THE DEFERRED LOCK IN AND THEN SPRING DEFEND AGAINST WEATHER SCARE IS THE BEST WAY I THINK TO SURVIVE 2019 WHEN A PERIOD I THINK IS GOING TO BE A VERY TIGHT PROFITABLE MARGIN YEAR THIS YEAR IS NOT THE YEAR TO BE A COWBOY THIS YEAR TO GET THROUGH WITH DECENT PROFITS. ALL RIGHT. OH I AGREE 100 PERCENT THERE. YOU KNOW THE MARKETS HAVE BEEN A LITTLE BIT BORING BUT PRODUCERS NEED TO STEP BACK PUSH THEIR PENCIL AND SEE WHERE THEY ARE WILLING TO SELL SOME OF THIS GRAIN. YOU KNOW. SOYBEANS ARE PROBABLY PROFITABLE CORN NOT SO MUCH BUT REALIZE AND BE AGGRESSIVE PLACED THOSE ORDERS OUT THERE I CAN MARCH CORN GOT TO 360 THEN WE HIT FARMERS ONLY IF YOU DON'T HAVE YOUR ORDER OUT THERE YOU'RE GOING TO BE LEFT BECAUSE YOUR NEIGHBOR WILL SELL BEFORE YOU THEN IT'S TO PULL BACK DOWN. BE AGGRESSIVE MOVING EITHER THIS OLD CROP OR GO SELL SOME NEW CROP. WE'VE GOT TO GET AHEAD OF THESE HUGE SUPPLIES SOMEHOW. AND LIKE BOB SAID YOU CAN ALWAYS EVERY OWNERSHIP BACK IN THE SPRING JUST LIKE WE'RE IN THE CYCLE RIGHT. I MEAN NO SELLING THESE SUPPLIES ARE GROWING. LONG LIVE THE BEAR. MOTHER NATURE HAS A WAY OF CORRECTING. IN ONE YEAR WE'LL GET THAT EVENT I THINK IN THE SUMMER OF 2012 IS WHEN WE'LL FINALLY GET THE BULL THE MARKET DOWN. ALL RIGHT WE'RE GOING TO TAKE A QUICK BREAK AND BE BACK WITH JOHN PHIPPS

JOHNS WORLD
IT'S TIME NOW TO CHECK IN WITH JOHN PHIPPS FROM  THE FARM... JOHN.  TWO YEARS AGO, I TALKED ABOUT THEN PENDING CHANGES TO THE WAY  THE GOVERNMENT REGULATES INTERNET SERVICE PROVIDERS AND  CONSUMER CHOICES. AT THAT POINT, THE FEDERAL COMMUNICATIONS  COMMISSION HAD DECIDED TO ISSUE WHAT HAS BEEN LABELED NET- NEUTRALITY RULES AND REGULATE INTERNET SERVICE LIKE IT DOES  ELECTRICITY. ALL THAT IS NOW ABOUT TO BE REVERSED AS TRUMP  APPOINTEES HAVE TAKEN CHARGE. HOW WORRIED OR EXCITED SHOULD WE BE ABOUT THESE  DEVELOPMENTS? THE SHORT ANSWER IS NOT VERY.   ONE BIG CLUE, POINTED OUT BY ECONOMIST TYLER COWEN, IS WHILE  HEADLINES FOCUSED OUR ATTENTION ON THIS DEBATE, THE STOCK PRICES  FOR COMPANIES WHO COULD SUPPOSEDLY WIN OR LOSE BIG REALLY DIDN'T  CHANGE MUCH FROM THEIR TREND LINES. IF INVESTORS AND INSTITUTIONS  WHO HAVE BIG MONEY AT RISK AND EXPERTS TO DEEP DIVE INTO THE  FINANCIAL IMPACTS ARE EITHER UNWORRIED OR SPLIT ON WHO THE  WINNERS ARE, THE RESULTS FROM THIS DECISION MAY NOT BE THAT BIG OF  A DEAL. THE OTHER THING TO REMEMBER IS THIS INDUSTRY IS FAMOUS  FOR INVENTING THEIR WAY AROUND REGULATIONS OR MONOPOLISTIC  BEHAVIOR.  MY BOTTOM LINE IS WHATEVER THE RESULT, IT WILL BE LESS THAN FEARED  AND SOON MADE IRRELEVANT.  THE BATTLE OVER NET NEUTRALITY DOES HAVE SOME BIG  CONSEQUENCES, JUST NOT THE OBVIOUS ONE. FOR THOSE IN THE  TELECOMMUNICATIONS INDUSTRY IT HAS UNDONE TWO YEARS OF  PLANNING AND INVESTMENT IN ONE FUTURE AND NOW REQUIRES SHIFTING  RESOURCES TO ANOTHER. THIS NOT A VICTORY OF FREE MARKETS OVER  REGULATION, IT IS AN UNNECESSARY IMPEDIMENT TO IMPROVING OUR  FRANKLY EMBARRASSING TELECOMMUNICATIONS INFRASTRUCTURE. THIS  GRAPH FROM FORBES SHOWS OUR GLOBAL RANK FOR SPEED: 9TH FOR FIXED  AND 46TH FOR MOBILE. THE MOBILE NUMBER IS THE ONE THAT AFFECTS  RURAL USERS THE MOST. IT MAY SEEM A MINOR HEADACHE, BUT THIS  POLITICAL FRICTION IN OUR TELECOMMUNICATION SYSTEM COULD  CONTRIBUTE MORE TO THE DEPOPULATION AND DECLINE OF RURAL AMERICA  THAN WE THINK. 

TEASE
THANKS, JOHN. FROM NET NEUTRALITY TO TEH FUTURE  OF AG TECHNOLOGY... GOOGLE HAS ALREADY  INVESTED IN AG TECH, BUT NOT ALL TECHNOLOGY  TODAY IS SHOWING AN R-O-I. SO, WAHT'S NEXT AND  HOW COULD THAT SHAPE THE FUTURE OF AG? THAT'S  NEXT IN OUR FARM JOURNAL REPORT.

HEADLINES
WELCOME BACK TO U-S FARM REPORT THIS  WEEKEND.WE HAVE MUCH MORE AHEAD.  AS SOME FARMERS LATCH ONTO THE LATEST AND  GREATEST AG TECHNOLOGY, NOT EVERY GADGET IS  PROVING IT HAS AN R-O-I.  CHRISTMAS MAY BE A COUPLE WEEKS AWAY, BUT TIS  THE SEASON FOR BAXTER BLACK.  AND TO RESTORE OR NOT TO RESTORE OLD  TRACTORS... THAT'S CUSTOMER SUPPORT.

BEARS EARS
NOW FOR THE HEADLINES... PRESIDENT DONALD TRUMP THIS WEEK, TOOK THE  RARE STEP OF SCALING BACK TWO SPRAWLING  NATIONAL MONUMENTS IN UTAH, DECLARING THAT  "PUBLIC LANDS WILL ONCE AGAIN BE FOR PUBLIC USE"  CATTLEMEN AND PUBLIC LAND ADVOCATES CHEERING  THE DECISION. WHILE TRIBAL AND ENVIRONMENTAL GROUPS SAY  THEY'LL SEE THE ADMINISTRATION IN COURT. BUT FOR SOME REASON THEY  WANT TO FIGHT, AND I'M HERE TO TELL YOU 'IF IT'S A FIGHT THEY WANT, IT'S  A FIGHT THEY'RE GONNA GET.'"> SOME 3-THOUSAND PROTESTORS GATHERING OUTSIDE  THE UTAH STATE CAPITOL WHERE THE PRESIDENT  MADE THE ANNOUNCEMENT. AT THE CENTER OF THE DISAGREEMENT, THE BEARS  EARS AND GRAND STAIRCASE-ESCALANTE NATIONAL  MONUMENTS.  BOTH ENCOMPASSING MILLIONS OF ACRES OF LAND. RANCHERS IN THE AREA RELIEVED SAYING MORE RED  TAPE AND GOVERNMENT INVOLVEMENT ONLY  COMPLICATES THEIR ABILITY TO MAKE A LIVING.  THEY SAY YOU CAN STILL DO EVERYTHING THAT YOU COULD BEFORE.  BUT THAT'S NOT NECESSARILY TRUE. YOU HAVE TO GET PERMISSION. YOU  HAVE TO MOTHER MAY I TO GO OUT AND CLEAN A RESERVOIR TO PUT IN A  NEW CROSS FENCE.  ITS IMPORTANT TO NOTE THE PRESIDENT DID NOT GET  RID OF THESE MONUMENTS ONLY REDUCE THEM IN  SIZE. THE NATIONAL PARK SERVICE SAYS, NO PRESIDENT HAS  EVER TRIED TO ELIMINATE A MONUMENT, ALTHOUGH  SOME HAVE BEEN REDUCED OR THE BOUNDARIES  REDRAWN ON 18 OCCASIONS. THE MOST RECENT INSTANCE CAME IN 1963, WHEN  PRESIDENT JOHN F. KENNEDY SLIGHTLY DOWNSIZED A  NATIONAL MONUMENT IN NEW MEXICO. WINTER CAME BARRELLING THROUGH THE NORTHERN  PLAINS THIS WEEK. 

CROP PROGRESS
AFTER MILD TEMPERATURES THIS FALL, A BLIZZARD  STORMED IN THIS WEEK. AND WITH OFFICIALLY THREE  WEEKS UNTIL WINTER ARRIVES, FARMERS IN THE  NORTHERN PLAINS ARE STRUGGLING TO HARVEST THIS  YEAR'S CROP   YOU LOOK AROUND AND  THERE'S QUITE A BIT OF CORN AROUND THE COUNTRY AND I'VE TALKED TO A  FEW GUYS AND THEY'RE STILL 18, 19, 20 PLUS MOISTURE > IN THE LAST CROP PROGRESS REPORT OF THE SEASON - ISSUED A WEEK AGO - 94-PERCENT OF CORN WAS  HARVESTED. THE STATEWIDE FIVE YEAR AVERAGE IS 95-PERCENT.

CALIFORNIA WILDFIRES
SOUTHERN CALIFONRIA IS UNDER SEIGE, AFTER  WILDFIRES ENGULFED AREAS OUTSIDE LAS VEGAS THIS  WEEK,FORCING MASS EVACUATIONS.  WIND GUSTS PICKED UP REACHING UP TO 80 MILES PER  HOUR, IT ONLY PROVIDED FUEL FOR HTE FIRES.  THE DAMAGE CAPPING THE MOST DESTRUCTIVE  WILDFIRE SEASON IN THE STATE'S HISTORY.  

CALIFORNIA EGG LAW
RENEWED PUSHBACK TO CALIFONRIA'S LAW THAT  REQUIRES EGGS SOLD THERE TO COME FROM HENS  THAT HAVE ADEQUATRE SPACE IN CAGES.  MORE THAN A DOZEN STATES FILED A LAWSUIT ASKING  THE U-S SUPREMEM COUT TO BLOCK HTE LAW.  THE LAW THAT REQURES THE HENS TO HAVE ENOUGH  SPACE TO STRETCH OUT IN TEHIR CAGES TOOK EFFECT  IN 2015. BUT THE STATES CLAIM THAT CALIFORNIA'S LAW  HAS COST CONSUMERS NATIONWIDE UP TO 350 MILLION  DOLLARS.  THE LAWSUIT ALSO BRINGS UP THAT THE LAW VIOLTAES THE U-S CONSTITUTION'S INTERSTATE COMMERCE  CLAUSE, AND SHOULD BE PREEMPTED BY FEDERAL  LAW. 

ARKANSAS DICAMBA BAN
THE MONSANTO COMPANY ASKING A JUDGE TUESDAY  TO STOP AN ARKANSAS PROPOSAL THAT BANS THE USE  OF DICAMBA. THE AGRIBUSINESS IS ASKING A COUNTY JUDGE TO  ISSUE A PRELIMINARY INJUNCTION--PUTTING THE BAN  ON HOLD UNTIL THE COMPANY CAN CHALLENGE IT IN  COURT. THE ARKANSAS PLANT BOARD APPROVED THE BAN OF  DICAMBA FROM APRIL 16 THROUGH OCTOBER 31. THAT IS SET TO GO BEFORE A LEGISLATIVE COMMITTEE  NEXT WEEK.

WEATHER
THAT'S IT FOR NEWS...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW. MIKE, HOW'S THE REST OF  2017 SHAPING UP?   TYNE AT THIS POINT I DON'T SEE A CHANGE IN THE PATTERN.  THAT MEANS IF YOU LIVE EAST OF THE ROCKIES YOU'RE PRETTY MUCH  GOING TO BE COLDER THAN NORMAL. MOST OF THE TIME IF YOU LIVE FROM  THE CONTINENTAL DIVIDE WESTWARD IT IS GOING TO BE A PRETTY WARM  DRY WEATHER PATTERN AS LONG AS THAT RIDGE HOLDS. LET'S SEE WHAT  OUR COMPUTER MODELS DO HERE. AND YOU CAN SEE IT KEEPS THE  TROUGH IN THE EAST. WE HAVE MULTIPLE PIECES OF ENERGY COMING UP  OVER THE RIDGE AND THEN DIVING INTO THE TROUGH JUST TO KIND OF  CARVE IT OUT AGAIN SO YOU CAN SEE BY WEDNESDAY. THIS IS A REALLY  DIRECT SHOT RIGHT OFF THE ARCTIC CIRCLE INTO THE SOUTHEASTERN PART OF  THE COUNTRY. THIS IS VERY COLD AIR FOR A COUPLE OF DAYS IN THAT AREA  THEN IT RELAXES SLIGHTLY BUT THERE'S MORE ENERGY DIVING THROUGH  THE NORTHERN MISSISSIPPI VALLEY AS WE HEAD TOWARD FRIDAY AND  THEN THAT JUST BASICALLY CONTINUES WITH THE BIG TROUGH IN THE EAST.  YOU CAN SEE IT BECOMES A LITTLE MORE ZONAL AS WE HEAD INTO NEXT  WEEKEND. SO WE'LL SEE IF THAT TREND CONTINUES. BUT I HAVE A  FEELING MORE ENERGY JUST CARVE OUT THAT TROUGH ONCE AGAIN. SO  LET'S TAKE A LOOK AT THURSDAY THE OUTLOOK FOR TEMPERATURES BELOW  NORMAL EAST OF THE CONTINENTAL DIVIDE ABOVE NORMAL OUT WEST 30  TO OUTLOOK FOR PRECIPITATION ABOVE NORMAL NORTHERN MISSISSIPPI  VALLEY AND THE GREAT LAKES AND THE NORTHWEST. MOST OF THE  SOUTHERN TIER OF STATES PROBABLY BELOW NORMAL TYNE.  THANKS, MIKE. 

FARM JOURNAL REPORT
THERE'S A LOT OF BUZZ AROUND TECHNOLOGY AND  WAHT'S THE LATEST AND GREATEST. BUT AGRICULTURE MAY JUST BE AT THE TIP OF THE ICEBERG WHEN IT  COMES TO FULLY UTILIZING TECHNOLOGY TO GROW  EFFICIENCY ON THE FARM. THAT'S THIS WEEK'S FARM  JOURNAL REPORT.   FROM CONTROLLING IRRIGATION FROM YOUR SMARTPHONE TO CAPTURING HARVEST DATA ON THE GO TECHNOLOGY AND AGRICULTURE CONTINUES TO EVOLVE.  WE'VE SEEN A PERIOD OF INVESTMENT AND AG TECH DIGITAL AGRICULTURE PRECISION FARMING. THERE'S  BEEN TREMENDOUS DOLLARS INVESTED COMPANIES LIKE GOOGLE HAVE EVEN JUMPED INTO AGRICULTURE VIA GOOGLE VENTURE INVESTING IN COMPANIES LIKE THE FARMERS BUSINESS NETWORK. BUT NOT EVERY IDEA BEING LAUNCHED IS WINNING OVER FARMERS. THE PRECISION FARMING TECHNOLOGIES THAT HAVE ALREADY BEEN CREATED.  THAT'S THE VARIABLE RATE TECHNOLOGY GPS. THOSE AREN'T BRAND NEW. THEY'RE THERE OUT THERE AND THEIR ADOPTION IS PRETTY GOOD. THE NEW SYSTEMS FOR MANAGEMENT SOFTWARE SYSTEMS THAT ARE ACTUALLY ATTEMPTING TO ORGANIZE FARMS BETTER WITH ACCOUNTING SYSTEMS INVENTORY SYSTEMS ETC. THOSE ADD A LOT OF VALUE BUT THEY'RE EXPENSIVE. AND ADOPTION REMAINS VERY LOW.  DINO JAKA MOTSI IS ONE OF THOSE FARMERS WHO GETS TECHNOLOGY. HE SAYS THE BUZZ SURROUNDING DRONES IS LOUD BUT DRONES ARE MORE OF A TOY THAN A TOOL FOR FARMING. WITH SATELLITE DATA AND SATELLITE TECHNOLOGY NOW IT CAN GET SO MUCH QUICKER AND CHEAPER THAN THAN FLYING DRONES JUKKA MOTSI SAYS THERE'S OFTEN A DISCONNECT BETWEEN THE PEOPLE CREATING THE TECHNOLOGY AND THE ONES ACTUALLY USING IT ON THE FARM. A LOT OF TECHNOLOGY IS BEING DEVELOPED LOOKING FOR A PROBLEM VERSUS PROBLEMS LOOKING FOR TECHNOLOGY HE SAYS.  IN MANY CASES ADOPTION RATES ARE SLOW BECAUSE THE TECHNOLOGY IS AHEAD OF THE CURVE.  BUT I THINK THE REGULATION AND LABOR PARTICULARLY I THINK IS REALLY GOING TO DRIVE AUTOMATION. I THINK THERE'S A LOT OF A LOT OF INTERESTING THINGS HAPPENING IN ROBOTICS AND AUTOMATION RIGHT NOW THAT WEREN'T HAPPENING. BEFORE.  I THINK THAT'S WHERE THE BEST OPPORTUNITIES IN TECH ARE THOSE OPPORTUNITIES MAY NOT BE HERE TODAY. BUT HE SAYS IT'S CLOSER THAN MANY THINK.  I THINK WE'RE KIND OF IN A TECH 1.0 PHASE RIGHT NOW AND THAT IN ANOTHER FIVE TO 10 YEARS WE'RE GOING TO SEE NEW EMERGING IDEAS IN TERMS OF SENSOR TECHNOLOGY AND OTHER THINGS THAT ARE GOING TO BE MUCH CHEAPER AND SOLVE PROBLEMS FOR THIS NEXT SORT OF GENERATION. WHILE MANY ARE FOCUSED ON THE MILLENNIAL GENERATION A NEW SURVEY REVEALING THE HABITS OF GEN Z OR THE 18 TO 22 YEAR OLDS.  AND SO WE WERE KIND OF CURIOUS OF GENERATION Z WHAT WAS THE PERCENTAGE OF THAT GENERATION THAT HAD A DESIRE OR INTENT TO GO BACK TO THE FARM AND ENGAGE IN AGRICULTURE. AND THAT NUMBER CAME UP AFTER THE SURVEYS 54 PERCENT THE SURVEY BY OSBORN AND BARNET'S AG ADVISORY COUNCIL SHOWS TECHNOLOGY WILL TAKE CENTER STAGE FOR GEN Z.  YOU KNOW THIS GENERATION YOU KNOW THEY'RE NOT ONLY COMFORTABLE WITH TECHNOLOGY THEY'RE IMMERSED IN AND IN REALLY THEY HAVE BEEN EXPOSED TO TECHNOLOGY SINCE THEY'VE BEEN HERE SINCE SINCE SINCE THEY'VE BEEN ON THIS PLANET FOR AI SAYS THAT MEANS GEN Z MAY POTENTIALLY DRIVE AG COMPANIES TO INTRODUCE TECHNOLOGIES AT A FASTER PACE. YOU KNOW I GUESS THOSE OF US IN AGRICULTURE WE KIND OF WAIT FOR THE INDUSTRY TO BRING NEW INNOVATION TO THE MARKETPLACE. WE'RE JUST WE JUST WAIT YOU KNOW AND IT'S HERE IT COMES AND YOU LEARN HOW TO USE IT. THAT'S GREAT.  BUT THIS GENERATION YOU KNOW WHEN PEOPLE STAND IN LINE YOU KNOW TWO DAYS TO GET AN IPHONE 10 THAT IS DEMANDING NEW TECHNOLOGY. AND I THINK THIS GENERATION WILL BE MAYBE THE FIRST GENERATION THAT WILL START DEMANDING INNOVATION TECHNOLOGY THAT COMES SOONER.  IT'S RUN A TWO 16 YEAR OLD 13 MOISTURE RIGHT BEHIND US YEAH RIGHT BEHIND US RIGHT NOW WHILE THE VERDICT IS STILL OUT ON WHETHER SOME TECHNOLOGY ON FARMS TODAY PROVIDES AN AURA Y PRODUCTION PRACTICES WILL CONTINUE TO CHANGE EVEN EVOLVING AS A RESULT OF CONSUMERS DESIRES. AGREE THAT THIS THIS IDEA THAT WITHOUT US NOBODY IS GOING TO WHAT ARE YOU GOING TO DO IF WE DON'T GIVE IT TO YOU. RIGHT. I MEAN THIS IS AN ATTITUDE THAT HAS TAKEN DOWN YOU KNOW MONOPOLIES LIKE KODAK AND KODAK AS LATE AS THE 1980S HAD 85 PERCENT OF THE OF THE CAMERA BUSINESS AND 90 PERCENT OF FILM BUSINESS. AND IN 2011 THEY WENT BANKRUPT BECAUSE THEY MISSED THE FACT THAT FACEBOOK AND APPLE WOULD COME ALONG AND PRODUCE TECHNOLOGIES THAT WOULD ELIMINATE A NEED FOR THEIR PRODUCTS ENTIRELY. HE SAYS THE KEY TO SURVIVAL IS SIMPLE WE SURVIVE BY LISTENING AND TRYING TO UNDERSTAND WHAT'S IN IT FOR THE OTHER PEOPLE THE PEOPLE WHO WOULD ULTIMATELY DISRUPT US AND EITHER FIND THE OPPORTUNITY FOR THEM AND WHAT WE'RE DOING OR FIND THE OPPORTUNITY FOR US AND WHAT IT IS THAT THEY BELIEVE THE TECHNOLOGY USED TO MEET THOSE NEEDS COULD MAKE FARMING EVEN MORE EFFICIENT.  PUSHING LIMITS TO THE SKY AND SETTING A NEW PATH TOWARD THE FUTURE.

TEASE
NEXT WEEK, I'LL BE HOSTING A ROUNDTABLE  DISCUSSION AT THE FARM JOURNAL AG TECH EXPO IN  INDIANAPOLIS.  WE'LL LOOK INTO WHAT TECHNOLOGY IS HELPING  YIELDS GROW, BUT ALSO HOW THE FOCUS IS SHIFTING  TO GROWING HIGH VALUE CROPS.  THERE'S STILL TIME TO ATTEND. IT'S MONDAY THROUGH  WEDNESDAY IN INDIANAPOLIS.  UP NEXT, JOHN PHIPPS. 

CUSTOMER SUPPORT
ONE OF THE FAN FAVORITE SEGMENTS ON TEH SHOW IS  TRACTOR TALES. WHEN I'M TRAVELING, I USUALLY HAVE  AT LEAST ONE PERSON SAY HOW MUCH THEY LOVE  HEARING THE STORIES BEHIND THE OLD TRACTORS.  BUT IT'S THAT SEGMETNS THAT ALSO CREATED A  QUESTION FOR JOHN PHIPPS.  STEVE ALLEN, FROM SOLDIER, IOWA FLAT OUT ADMITS HE JUST WANTS A  MUG, BUT SAYS IF HE HAS TO SUBMIT A QUESTION, IT WOULD BE THIS  ONE: WHY IS IT NOW GETTING MORE POPULAR TO LEAVE ANTIQUE TRACTORS IN  THEIR ORIGINAL CONDITION, AND TO NOT DO A COMPLETE RESTORATION?" STEVE, SEND ME THE REST OF YOUR ADDRESS, BECAUSE THAT IS  ACTUALLY A VERY GOOD QUESTION. I HAD BEEN WONDERING ABOUT  SEEING MORE UNRESTORED TRACTORS ON TRACTOR TALES SO I ASKED  MACHINERY PETE TO WEIGH IN. HE THINKS THE TREND IS PRIMARILY, BUT  NOT TOTALLY, DRIVEN BY ECONOMICS: "THERE IS GROWING AWARENESS THAT ALL THE DOLLARS PUT INTO  RESTORATIONS ARE NOT GENERALLY REALIZED UPON SELLING. INCREASING  SHARE OF POTENTIAL BUYERS ARE LOOKING FOR "ORIGINAL" TRACTORS TO  COLLECT, NOT ONES SOMEONE SPENT TON RESTORING. ORIGINAL TELLS  MORE OF A "STORY" ON THAT PARTICULAR TRACTOR. STILL, IT'S PERSONAL COLLECTOR PREFERENCE....THOSE THAT WANT ONE  MADE TO LOOK LIKE NEW VS. THOSE WHO EITHER WANT ORIGINAL FOR  ORIGINAL'S SAKE OR WANT THE ORIGINAL SO THEY CAN RESTORE  THEMSELVES. IF YOU'RE GOING TO RESTORE AND SPEND LOT OF BUCKS DOING SO, DO IT  FOR THE REASON OF THAT IS WHAT MAKES YOU HAPPY VS. DOING IT TO  ADD VALUE." I THINK PETE NAILS IT, BUT WOULD ADD THESE OTHER FACTORS. FIRST, THE  ANTIQUES ROADSHOW. IF YOUR PBS STATION PLAYS THIS SHOW AS  OFTEN AS MINE, YOU'VE UNDOUBTEDLY HEARD EXPERTS GUSH OVER  ORIGINAL CONDITION AND TSK-TSK SADLY OVER REPAIRS OR REFINISHING.  AFTER A WHILE THIS SINKS IN. SECOND, THE INVENTORY OF OLD TRACTORS ISN'T GETTING ANY BIGGER.  MEANWHILE, AS THE WAVE OF BABY BOOMERS RETIRE AND TRY TO FIGURE  HOW TO OCCUPY HOURS, RESTORATION LOOKS LIKE A GOOD FIT FOR A  HOBBY. SO RISING DEMAND AND FALLING SUPPLY FOR UNRESTORED  TRACTORS MAY BE INVERTING THE VALUE OF OLDER MACHINES. TRY TO  IMAGINE WHAT THE LAST UNRESTORED 4020 OR SUPER M WILL BRING IN A  FEW YEARS. MAYBE I SHOULD HAVE HUNG ONTO MY OLD WD-45 A LITTLE  LONGER.

TEASE
THANKS, JOHN. AND IF YOU HAVE QUESTIONS FOR  COMMENTS, EMAIL JOHN AT MAILBAG AT U-S FARM  REPORT DOT COM. WHEN WE COME BACK, BAXTER BLACK GETS US IN THE  HOLIDAY SPIRIT

BAXTER BLACK
CHRISTMAS MAY BE A COUPLE WEEKS AWAY, BUT TO  GET US IN TEH HOLIDAY SPIRIT, HERE'S BAXTER BLACK.  AT THE CHRISTMAS OFFICE PARTY IN THE BARNYARD ON THE FARM THE DOMESTICATED DILBERTS WERE DISPENSING WITH THE CHARM FERMENTED GRAIN MADE SCHOLARS OUT OF EVEN DULLEST FOUL AND NO IT 'S HARD TO TAKE A CHICKEN SERIOUSLY EVEN WHEN HE 'S SPEAKING ELVES.  SHEEP WERE BUNCHED LIKE SECRETARIES AND SIPPING WINE AND COMPARING NOTES ABOUT THE LATEST IN-HOUSE ROMANCE AND LIKE ALWAYS BLAME THE GOATS WHILE THE SHEEP DOG AND THE LAMA WERE DISCUSSING COYOTE-HOOD AND WHY THEY LIKE THE NRA AND WHY IT 'S SO MISUNDERSTOOD COWS WERE GATHERED AROUND THE MILK BOWL WITH THE UNION GALLOWAY WHO WAS TRYING TO CONVINCE THEM THEY SHOULD STRIKE FOR HIGHER HAY AND MORE THEY DRANK THE MORE THEY PLOTTED OUT THEIR SMARTEST MOVE BUT FINALLY GAVE THE PLAN UP CAUSE ITS HARD TO HOLD A PICKET SIGN.  IF ALL YOU'VE GOT IS CLOTHING.  BY THEN THE PIG HAD MADE A MESS OF ALL THE HORS D'OEUVRES TRAY AND WE WERE UNDER APPRECIATED SWINE YOU THINK WE LIVE OUR DAYS JUST TO EAT AND DRINK AND WALLOW BUT WE HAVE YEARNINGS TOO IT WAS ALL THIS DISCONTENTMENT THAT HAD GOT THEM FEELING BLUE. FARMER BROWN ANNOUNCED THE BONUS LIKE HE DID MOST EVERY YEAR THEY COULD ALL TAKE CHRISTMAS DAY OFF WHICH WAS GREETED WITH A CHEER THEY TRIED TO GUESS THE BONUS BUT LIKE ALWAYS THEY COULD NOT EVERY TIME THEY WERE ASTOUNDED AND SURPRISED BUT IT WAS THE SAME THING EVERY CHRISTMAS AND LIKE ALWAYS THEY FORGOT. AS THE SUN SET ON THE BARNYARD EVERYBODY GOT DEPRESSED JUST ANOTHER OFFICE PARTY AND WOULD FADE INTO THE REST REST TO THE ROOSTERS INSPIRATION SAVE THIS PONDEROUS DECEMBER WHEN HE CAUGHT THE BIG TOM TURKEYWEAVING SLIGHTLY UNDERNEATH SOME MISTLE.  MISTOOK HIM FOR A PINATA AND NEARLY TOOK HIS HEAD OFF   WITH A BRANDING IRON CAUSING A SMALL LACERATION ON HIS SNOOD BUT AS MEMORIES WILL ATTEST MADE THIS A CHRISTMAS TO REMEMBER THIS IS BAXTER BLACK FROM OUT THERE, MERRY CHRISTMAS  THANKS, BAXTER. TO HEAR MORE OF BAXTER, GO  ONLINE TO BAXTER BLACK DOTCOM  WHEN WE COM EBACK- MACHINERY PETE HAS A  FARMALL FROM THE 1950S. WE'LL BE RIGHT BACK. 

TRACTOR TALES
TRACTOR TALES BROUGHT TO YOU BY THE MOST  TRUSTED NAME IN FARM EQUIPMENT, MACHINERY  PETE!. WELCOME BACK TO TRACTOR TALES FOLKS!  WE'RE OFF TO CENTRAL  INDIANA FOR A 1958 FARMALL 450.  THIS WORKHORSE IS RETIRED FROM  THE FARM LIFE, BUT STILL GETS OUT TO TURN A FIELD NOW AND AGAIN.  ALAN  REHM SHARES HIS STORY OF THIS CLASSIC FARMALL. I BOUGHT IT OVER IN OHIO THREE YEARS AGO. YEAH JUST FOR PLOW DAYS  OR I'VE TOOK IT AND TOWED TRACTORS BACK AT TRACTOR PULLS OR STUFF LIKE  THAT JUST SHOW IT YOU KNOW I BOUGHT IT AS IT SITS. ONE THING I DID IS  ADDED MORE WHEEL WEIGHTS TO THE PLOW PLOWED WHEN I WAS A KID  IT KIND OF WENT AWAY AND I STARTED DOING THESE ANTIQUE PLOWS AND  PLOW DAYS SO. DRUGGED THE PLOWS OUT. GOT THE TRACTORS OUT AND STARTED BACK PLOWING AGAIN BECAUSE THE  YOUNGER GENERATION DON'T EVEN KNOW WHAT THIS IS A LOT OF THEM. I  THINK IT'S INTERESTING AND FUN TO SEE THE GROUND TURNED OVER. I JUST  ENJOY THE OLD TRACTORS. AND THIS GUY THAT I BOUGHT OFF WE HAD  ABOUT A YEAR BUT WHEN WE PICKED IT UP IT'S THE FIRST TIME IT'S EVER  BEEN OUT COUNTY IN OHIO. IT WAS BOUGHT RIGHT THERE IN THE LOCAL  WELL THE DEALERSHIP IS GONE NOW BUT HE'D BOUGHT IT RIGHT THERE  AND. IT NEVER LEFT THAT COUNTY. AND WE BROUGHT HIM OVER HERE. I BOUGHT  IT OFF OF AN INDIVIDUAL WHO BOUGHT IT OFF THE GUY THAT. BOUGHT IT  BRAND NEW. KIND OF ODD. THERE'S ONLY 19 HUNDRED AND 78 MADE.   NICE FARM ALL THANKS FOR THAT. AND NEXT WEEK JUST TO REMEMBER  THE ENTIRE SECOND HALF HOUR OF OUR PROGRAM WILL BE FROM THE AG  TECH EXPO WE'LL BE EXPLORING TECHNOLOGY AS WELL AS GETTING MORE  VALUE FOR THOSE HIGHER YIELD. WE'LL DO THAT NEXT WEEKEND ON THE  SHOW. BUT THIS WEEKEND AFTER THE BREAK WE HAVE SOME FROM THE  FARM PHOTOS TO SHOW YOU. 

FROM THE FARM
WELCOME BACK. HARVEST MAY BE WRAPPED UP IN PARTS OF MICHIGAN,  BUT MASON OLSON WILL BE ABLE TO REMEMBER THIS  HARVEST FOREVER, THANKS TO THIS FRAME WORTHY  PHHOTO. HIS MOM KATIE SNAPPED IT FOR THE  MICHIGAN SOYBEAN PROMOTION COMMITTEE'S PHOTO  CONTEST. HOW SWEET.  IT WAS THE LAST DAY OF HARVEST FOR THE HATFIELD  BROTHERS FARM IN CLARKSON, KENCUTCKY. THEY TELL  US THAT THEY BATTLED A WET SPRING FORCED TO  REPLANT SOME ACRES, AND THEN A WET FALL. BUT  THEIR SOYBEANS STILL AVERAGED 52 BUSHELS PER  ACRE.   AND I MAY HAVE SAID THAT WRONG SO I APOLOGIZE IF WE DID. WELL  WE SAW SOME SNOW THIS PAST WEEK MIGHT BUT THIS UPCOMING  WEEK KIND OF WHAT'S THE BIG WEATHER MAKER THAT YOU'RE WATCHING.  IT'S STILL THE COLD EAST OF THE ROCKIES THIS IS A VERY COLD WEATHER  PATTERN THERE WILL BE LITTLE SYSTEMS MOVING THROUGH WITH SNOW  LAKE EFFECT IN THE LAKES SO MORE OF THE SAME. 

CLOSE
I'M MIKE  HOFFMAN AND I'M MORGAN. THANK YOU FOR WATCHING US THIS  WEEKEND. BE SURE TO JOIN US AGAIN RIGHT HERE NEXT WEEK AS WE  WORK 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