USFR Weekly Recap - March 18-19, 2017

March 18, 2017 03:30 AM
 
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TODAY ON U.S. FARM REPORT
MARCH 18-19, 2017


HEADLINES
WELCOME TO U.S. FARM REPORT. I'M TYNE MORGAN,  AND HERE'S WHAT WE'RE WORKING ON FOR YOU OVER  THE NEXT 60 MINUTES. THE FED RAISES RATES, BUT WHAT DOES IT MEAN  MOVING FORWARD? <THE FED IS GOING TO MAKE SURE THAT THE ECONOMY DOESN'T HEAT  UP> DEVESTATING WILDFIRES BRINGS OUT THE TRUE  CHARACTER OF AG... <THEY HAVE COWS AND NOTHING TO BRING THEM BACK TO> BETSY JIBBEN HAS BOOTS ON THE GROUND.  INCENTIVISING FARMERS TO GROW EVEN BETTER  BEANS.  <CAN WE GET PAID FOR THE QUALITY OF THAT CROP RATHER THAN THE  QUANTITY OF THAT CROP. 15:21> THAT'S OUR FARM JOURNAL REPORT.  AND IN JOHN'S WORLD.  WHAT CAN EVEN BE CALLED MILK? <U.S. FARM REPORT - BROUGHT TO YOU BY THE DEPENDABLE, LONG  LASTING, CHEVY SILVERADO.>

FED RAISING INTEREST RATES
NOW FOR THE NEWS THAT MOVED THE MARKETS THIS  WEEK, THE FEDERAL RESERVE MAKING AN EXPECTED  MOVE THIS WEEK, DECIDING TO RAISE INTEREST RATES  BY A QUARTER OF A PERCENT.  AS ANTICIPATED, THE FED RAISING THE CENTRAL BANK  BENCHMARK RATE. THE RANGE NOW SITS AT THREE- QUARTERS OF A PRECENT TO 1 PERCENT.  FEDERAL RESERVE CHAIR JANET YELLEN SAYING THE SIMPLE MESSAGE IS THE ECONONOMY IS DOING WELL.  OFFICIALS ALSO REITERATING THAT WE SHOULD  EXPECT AT LEAST TWO MORE RATE HIKES THIS YEAR  DUE TO FACTORS LIKE A GROWING G-D-P.  <THE FED IS GOING TO MAKE SURE THAT THE ECONOMY DOESN'T HEAT  UP, THAT IS IS STRENGHTENING, AND IF IT WERE TO HEAT UP, INFLATION  COULD GET OUT OF CONTROL, WE'RE NTO IN THAT SITUATION, IN FACT JANET  YELLEN SAID THAT THE LONG-TERM INFLATION EXPECTATIONS REMAINED  ANCHORED AS FAR AS EXPECTATIONS LONGER TERM, WE CAN FEEL GOOD  ABOUT THE ECONOMY PICKING UP SOME STEAM, BUT THE FED WILL  WATCH IT CLOSELY TO MAKE URE IT DOESN'T OVERHEAT>

CHINA RAISING SHORT-TERM INTEREST RATES
CHINA ALSO OPTING TO RAISE SHORT-TERM INTERST  RATES THIS WEEK. THAT CAME AFTER THE U-S BUMPED  RATES.  TEH PEOPLE'S BANK OF CHINA RASIIGN THE RATE FOR  ITS 6-MONTH AND ONE-YEAR MEDIUM TERM LENDING  FACILITY BY POINT 1 PERCENT.  ECONOMISTS SAY IF THE U-S CONTINEUS TO RAISE  RATES AND CHINA DOESN'T, IT'LL FORCE MORE MONEY  TO FLOW OUT OF CHINA AND INTO THE U-S, PUTTING  FURUTHER PRESSURE ON THE YUAN. 

ALLENDALE ACREAGE NUMBERS
ALLENDALE INCORPORATED RELEASING ITS ACREAGE  ESTIMATE THIS WEEK, POITNING TO A RECORD NUMBER  OF SOYBEAN ACRES.  BASED ON A CUSTOMER SURVEY, ALLENDALE  PROJECTING 88 POINT 9 MILLION ACRES OF SOYBEANS  THIS YEAR.  THE FIRM CALLING FOR LOWER CORN AND WHEAT  ACRES.  ALLENDALE PROJECTS CORN ACRES TO HIT JUST OVER  90 MILLION. THAT'S ABOUT 4 MILLION ACRE DROP FROM  LAST YEAR.   THE 'ALL-WHEAT' TALLY IS ABOUT 46 MILLION ACRES,  DOWN MORE THAN FOUR MILLION. THAT'S THE LOWEST AMOUNT OF WHEAT IN ABOUT A  CENTURY. KANSAS AND OKLAHOM'S WINTER WHEAT CROP  SUFFERING HTIS WEEK IN THE LATET CROP CONDITIONS REPORT. USDA CALLING BOTH STATE'S CROP 42  PERCENT GOOD TO EXCELLENT, DROPPING A POINT  FROM LAST WEEK.  DRY TEMPERATURES AND WILDFIRES ARE PUTTING  EVEN MORE PRESSURE ON THE CROP RIGHT NOW. 

BUTTER IS BACK
BUTTER IS BACK WITH AMERICANS EXPECTED TO EAT  THE MOST BUTTER IN 50 YEARS.   A NEW REPORT FROM USDA SHOWS AMERICANS ARE  FORECASTED TO EAT 8 PERCENT MORE BUTTER THAN  LAST YEAR. THAT WOULD PUT CONSUMPTION AT 940  THOUSAND METRIC TONS. MUCH OF THE ATTRACTION IS  DUE TO ITS HEALTH APPEAL. THE PRODUCT IS NOW  VIEWED AS A MORE WHOLESON ALTERNATIVE TO  MARGARINE AND TRANSFATS. 

AMERICAN FIRST TRADE POLICY
PRESIDENT DONALD TRUMP'S NOMINEE FOR U-S TRADE  REPRESETNATIVE SAYS HE AGREES WITH THE  PRESIDNT-- THE U-S SHOUL DHAVE AN AMERICAN FIRST  TRADE POLICY.  DURING HIS CONFIRMATION HEARING THIS WEEK,  TELLING THE SENATE  AGRICULTURE WILL BE A PRIORITY FOR HIM DURING TRADE TALKS. THE NOMINEE DISCUSSED NAFTA, SAYING HE'LL BE  CAREFUL NOT TO LOSE WHAT'S BEEN GAINED IN AG  EXPORTS DURING RENEGOTIATIONS.  HE'S ALSO VOWING TO UPHOLD INTELLECTURAL  PROPERTY IN THOSE NEGOTIATIONS, SAYING IT'S THE  BACKBONE OF OUR ECONOMY. 

WEATHER
THOSE ARE THE HEADLINES...METEOROLOGIST MIKE  HOFFMAN JOINS US NOW WITH WEATHER. MIKE, I HAD  THREE FLIGHT CANCELLATIONS ON ONE WEEK. IT'S LIKE  MOTHER NATURE IS REMINDING US IT'S STILL WINTER.  YEAH THAT 'S RIGHT TYNE, WINTER DEFINITELY TRYING TO HANG ON ACROSS  PARTS OF MICHIANA, BUT AS  WE HEAD TOWARD THE GROWING SEASON  WE WERE REALLY CONCERNED ABOUT THE DROUGHT MONITOR. IT 'S  IMPROVED A LOT OF THE SOUTHEAST DRAMATICALLY IN CALIFORNIA AS YOU  CAN SAY BUT I'M REALLY CONCERNED ABOUT THIS MISSOURI DOWN IN  OKLAHOMA AND ARKANSAS FIERY GO BACK A MONTH AND IT WASN'T  QUITE AS BAD. THERE 'S STILL POCKETS OF OUR EXTREME AND  EXCEPTIONAL DROUGHT IN THOSE AREAS BEIJING WILL SEE HOW AT SIX P  M AND A LITTLE BIT OVER THE PAST FOUR WEEKS AND SO LET 'S OPEN WILL  BE WATCHING AS WE HEAD THROUGH THE NEXT FEW WEEKS BUT FOR RIGHT  NOW WE'RE LOOKING AT STORM AFTER STORM EVERY TWO OR THREE DAYS  KIND OF MOVING ACROSS THE COUNTRY. ON MONDAY COLD FRONT THROUGH  THE GREAT LAKES INTO THE MIDDLE MISSISSIPPI VALLEY WAS SOME RAIN  SHOWERS MAINLY IN THAT AREA SYSTEM OFFERS SHORE ALONG WITH THE  STATIONARY FRONT CAUSING SOME RAIN AND MOUNTAIN SNOWS OUT WEST  BUT PRETTY DRY THROUGH THE SOUTHEASTERN PORTIONS OF THE COUNTRY. BY WEDNESDAY. THEN WE'RE LOOKING AT OF THREE STORM SYSTEMS OUT  WEST LOTS OF ENERGY COMING IN VERY RAINY DAY FOR CALIFORNIA LOOKS  LIKE RAIN AND SNOW IN THE NORTHERN ROCKIES A LITTLE AREA OF SHOWERS  AND ALONG THE FRONT DOWN IN THE FLORIDA. OTHERWISE A CHILLY BUT DRY  ACROSS THE GREAT LAKES  THEN BY FRIDAY THIS IS A WET STORM SYSTEM FOR THE MIDDLE OF THE  COUNTRY. IN FACT THE UPPER MIDWEST MAY GET A FAIR AMOUNT OF RAIN  OUT OF THIS OR MAYBE A LITTLE SNOW ON THE NORTHERN FRINGES. BUT   LOTS OF THIS IS GOING TO BE RAIN AND EVEN SOME THUNDERSTORMS  AHEAD OF THE COLD FRONT. NEXT STORM SYSTEM OUT WEST ALREADY  AGAIN CAUSING SOME RAIN AND MOUNTAIN SNOWS OUT THAT WAY WE'LL CHECK OUT YOUR LONGER RANGE FORECAST IN OUR NEXT HALF HOUR

TEASE
THANKS, MIKE. MUCH OF THE ANTICIPATION RIGHT NOW  IS AROUND WHAT USDA WILL THROW AT THE MARKET  AS FAR AS ANTICIPATED PLANTING ACREAGE. WE'LL  DISCUSS WITH ELAINE KUBB AND BRIAN BASTING AFTER  THE BREAK.  <U.S. FARM REPORT BROUGHT TO YOU BY KUBOTA'S M7  SERIES. LEARN MORE ABOUT THE LARGETS TRACTOR IN  KUBOTA HISTORY AT KUBOTA.COM>

ROUNDTABLE 1
WELCOME BACK ON THE ROUND TABLE WITH ME THIS WEEK ELAINE COBB AND BRIAN BASTING. A LOT TO TALK ABOUT THE LET 'S START OFF WITH THIS FED INTEREST RATE HIKE. MEAN IT WAS EXPECTED WE THINK WE'RE GONNA SEE A COUPLE MORE BUT OVERALL WHAT IS WAS THIS MEAN FOR OUR MARKETS ELAINE?? I THINK OUR MARKETS ARE AFFECTED BY THE OUTSIDE MARKETS, BY THE STOCK MARKET BY THE OVERALL ECONOMIC SENTIMENT. AND AND YES IT SOUNDED LIKE THE FED WANTS TO CONTINUE RAISING THOSE RATES IN A STEADY WAY. BUT I TOOK AWAY FROM IT BY JANET YELLEN 'S COMMENTS THAT YOU KNOW THAT THE DATA ISN'T REALLY BACKING UP SO MUCH ANIMAL ENTHUSIASM AS THE MARKETS HAVE PUT IN THERE. THERE 'S A LOT OF IDEAS THAT THINGS, EXPECTATIONS THAT THE MARKET SHOULD BE THIS EXCITABLE BUT SHE POINTED OUT THAT THE DATA IS NOT REALLY THERE YET. THE DATA STILL JUST SHOWS A SLOW, STEADY GROWTH. SO I THINK HER COMMENTS HAVE HELPED TO SORT OF MODERATE ALL OF THAT ENTHUSIASM. DO YOU THINK THIS TOP PART RIGHT NOW IS OVERHEATED??  ANY TIME THE MARKET 'S UNPRECEDENTED GAINS WE'VE SEEN SINCE THE ELECTION.AND ANY TIME THAT MARKET ARE THIS STRONG FOR THE SHORT PERIOD OF TIME, YOU HAVE TO BE CAREFUL I THINK IS AN INVESTOR. BUT I THINK THEY'RE THERE SOME INDICATION FROM THE NEW ADMINISTRATION THAT MAYBE THE MARKETS PERCEIVE FAVORABLE TAX TREATMENT. SO FROM THAT BEING BUILT IN BUT IT IS HAS GOTTEN VERY STRONG VERY QUICKLY. ALSO TALK OF CHINA POSSIBLY MOVING SOME MONEY OVER TO US LOOKING AT ART IN OUR INTEREST RATE HIKES WHAT IMPACT COULD THAT HAVE ON US AS WELL ELAINE??? YOU TALK ABOUT THE MONEY FLOWING AND AND THAT 'S A REALLY INTERESTING THING FOR THE GRAIN MARKETS.  WE DID SEE IN THE COMMITMENTS OF TRADERS REPORT THAT THERE WERE NEW SHORT POSITIONS BEING PUT ON BUT NOT LIQUIDATION. SO THERE 'S SOME BEARISHNESS FROM THE MANAGEMENT SIDE OF THE MARKET BUT NOT LIQUIDATION THIS HIGHER STOCK MARKET IS CREATING WEALTH THAT 'S CREATING INVESTMENT MONEY THAT 'S GOT TO GO SOMEWHERE. SO I THINK THE CONDITIONS ARE RIPE WEATHER COMES FROM CHINA OR COMES FROM INVESTORS ELSEWHERE COMES FROM DOMESTIC INVESTORS. THE CONDITIONS ARE RIPE THAT IF YOU HAD SOME SORT OF STORY IN THE GRAIN MARKETS IT COULD START TO GET SOME FUND ATTENTION. YOU'RE SHAKING YOUR HEAD??? I AGREE WITH THAT 'S A GREAT POINT ELAINE MAKES. I THINK TIME BECAUSE ANY TIME WE HAVE THE TYPE OF LIQUIDITY IN THE MARKETS AND THE VOLUME OF TRADING WE'RE SEEING IN THESE MARKETS COULD SWING QUICKLY, ONE WAY OR OTHER. A LOT OF VOLATILITY COULD BE WITH US WERE GIVEN INTO PLANTING.  ON SPEAKING OF OF OF SWINGING ONE WAY OR ANOTHER A WILD CARD COMING UP WE HAVE THE PLANTING INTENTIONS REPORT AND I MEAN WE'VE SEEN SOME PRE REPORT ESTIMATES THIS WEEK ONE FIRM PUT OUT WE COULD SEE JUST OVER NINETY MILLION ACRES OF CORN RIGHT IN THAT 'S LOWER THAN THE THAN WHAT SOME HAD HAD ANTICIPATED SO FOR JUST OVER THAT NINETEEN MILLION ACRE MARK IS THAT A BULLISH STORY FOR US AND IN THE CORN MARKET HEALING???? IT COULD BE ON THE DAY OF THE REPORT. THAT COULD YOU KNOW GET SOME INTERPRETATION THAT WAY BUT I THINK AS WE CONTINUE PAST THE REPORT AND WE CONTINUE INTO THE REALITY THE LOGISTICAL REALITY OF GETTING THE CROP 'S PLANTED. I THINK THAT IT COULD START BEING BEARISH FOR CORN IF YOU HAVE NICE DRY WEATHER. AND THE NOAA HAS PUT OUT THERE APRIL MAY JUNE 'S ONE OF LONG TERM PROJECTIONS FOR WEATHER AND IT 'S SHOWING BASICALLY DRY ABOVE NORMAL TEMPERATURES FOR THE MAJORITY OF THE CORN BELT. SO I THINK ONCE PLANTERS ROLL THEY KEEP ROLLING. ELAINE BRINGS UP GOOD POINT HEY WE'VE BEEN SO BULLISH ABOUT THIS IN THE SOYBEAN ACREAGE NUMBERS THAT WERE GOING TO SEE A RECORD AMOUNT WILL TALK ABOUT THAT IN A MINUTE BUT AT THE END OF THE DAY WE KNOW OUR VIEWERS OUT THERE LOVE THE POINT THAT CORN RIGHT AND SO THEY HAD THE CHANCE TO DO SO DO YOU THINK THEY'RE GOING TO?? I DO. AGREE WITH THAT. AND I THINK IT 'S A MATTER WHAT THE WEATHER IS GONNA BE LIKE HIS LANE SEVEN IN PLANNING TIME APRIL, MAY I THINK THE PRODUCERS HAVE HAD GREAT DEALS ON CORN ACROSS THE COUNTRY HERE IN GENERAL LAST COUPLE YEARS. AND IF THEY CONTINUE TO GET GOOD WEATHER CORN PLANTING TIME, AND THERE 'S A GOOD CHANCE THOSE EXTRA ACRES COULD SURPRISE THE MARKET FOR CORN WHEN IT WAS ALL SAID AND DONE. THAT IF THAT HAPPENS WHAT COULD HAVE BEEN A PRICE?? WELL I THINK ANYTIME YOU GET A STARTING POINT OF ACRE.S WE GOT THE USDA OUTLOOK FOR A NINETY MILLION ACRES WILL GO FROM THERE BUT IN TIME YOU LOOK IN A TWO AND A HALF NEARLY TWO A HALF BILLION BUSHEL CARRYOUT ON CORN, IF WE START GETTING THE PLANTING TIME HE START ADD MAYBE A FEW EXTRA ACRES OF CORN, WITH A GREAT EXPORT DEMAND RIGHT NOW BUT THE MARKETS COULD BE IT COULD FEEL HEAVY AND HAD THE WEATHER TIME. IT 'S ALL THE WEATHER COURSE IN JUNE JULY. AND WHETHER WE'RE HEARING THAT WERE SCENES OF DRY CONDITIONS ALREADY TAKE PLACE IN ILLINOIS 'S IN THOSE KEY AREAS OF OF THE CORN BELT AND RUMORS OF DRY WEATHER SONG TALKING ABOUT A TWENTY TWELVE R I KNOW IT 'S TOO SOON TO CALL THAT BUT BUT IF THAT PLANE IN YOUR MIND WHAT KIND OF PLAN SHOULD YOU HAVE A PLACE?? YOU DON'T WANT TO GET REAL AGGRESSIVE WITH GETTING OVER SOLD THAT I DON'T THINK THAT 'S THE PROBLEM I THINK THAT FARMERS OF THE SPORT SHOULD BE MORE WORRIED ABOUT GETTING SOMETHING IN PLACE NOT YOU KNOW NOT GOING CRAZY ABOUT HAVING SOME RISK PROTECTION IN PLACE BEFORE THAT MARCH THIRTY FIRST DATE FOR SURE. AND I'LL ADD ONTO THE TWO THOUSAND TWELVE UH UM YOU KNOW POSSIBILITY BUT NO LESS THAN THAT I THINK WE SEE THE AUSTRALIAN METEOROLOGISTS PREDICTING MAYBE A FIFTY PERCENT CHANCE OF EL NINO. SO THAT IS ACTUALLY POSITIVE FOR U S CORN PRODUCTION. SO I'M NOT WORRIED ABOUT A DROUGHT SCENARIO YET. OUR OWN WE NEED TO TALK SOYBEANS HAS ALSO LIVESTOCK WILL TAKE A BREAK AND THEN WE'LL BE RIGHT BACK ON U S FARM REPORT <HERE'S YORU CHANCE TO WIN A DRAEM SPORTS TRIP,  PLUS A $10,000 DONATION FOR A COMMUNITY SPACE.  TEXTX DREAM TO 31313 TO ENTER TODAY>

ROUNDTABLE 2
WELCOME BACK. WE TALKED A LOT ABOUT CORN AND CORN ACREAGE BUT ON THE SOYBEAN ACREAGE, IT'S PRETTY MUCH EXPECTED THAT WE'RE GOING TO SEE A RECORD NUMBER OF ACRES THIS YEAR. IS THERE ANY DEBATE ON THAT WITH SOYBEANS RIGHT NOW?? NO I THINK EVERY INDICATION WE'VE HEARD THROUGH OUR WINTER MARKET SEASON IS THERE WILL BE MORE BEAN ACRES PLANTED ACROSS THE SOUTH, ACROSS THE MIDWEST AND NORTHERN PLAINS. AT THE SAME TIME WERE HEARING POSSIBLY THE DEMAND COULD BE TAPERING OFF. IT DOESN'T SEAM LIKE IT'S SITTING IN THE SUN WITH A GOOD STORY WITH SOYBEANS. DEFINITELY NOT THE STORY THAT WE HAD LAST YEAR MID SUMMER. THERE'S A LOT OF DOWNSIDE RISK. THAT MARKET HAS BEEN TAKING THESE STAIRSTEPS DOWN ABOUT 15 CENTS A TIME THE PAST THREE MONTHS. IT'S BELOW 10 DOLLARS OR FLIRTING WITH THAT $10 LEVEL.SO IF YOU LOOK OUT TO YOUR NEW CROP CASH PRICES, BY THE TIME YOU BACK BASIS OFF OF THAT, YOU DON'T WANT THIS MARKET TO MOVE DOWN MUCH LOWER BEFORE YOU STOP SEEING A NINE DOLLAR IN FRONT OF YOUR SOYBEAN PRICES. SO I THINK RISK PROTECTION IS VERY VERY IMPORTANT IN THIS SOYBEAN MARKET GOING INTO THIS MARCH THIRTY FIRST PLANTING DATE ABSOLUTELY. ANYTHING IS MORE DOWNSIDE RISK RIGHT NOW ON BEANS AND UPSIDE WELL ANYTIME YOU'RE LOOKING AT THE ACRES WERE TALKING ABOUT  AND THAT THE CROP 'S COMING OUT OF BRAZIL, TREMENDOUS CROP IT LOOKS LIKE DEMAND THERE, OUR EXPORT PICTURE COULD LOOK MUCH DIFFERENT THIS SUMMER COMPARED TO LAST SUMMER FOR SOYBEANS. MUCH WEAKER THIS SUMMER. SOME I'M CONCERNED THAT THE SOYBEAN MARKET COULD HAVE A VERY HEAVY CARRY OUT THE FIRST TIME IN A NUMBER OF YEARS THIS YEAR. WHEAT ACRES OF REALLY TAKE A HIT OF THIS YEAR MAINLY BECAUSE OF PRICE BUT HOW DO YOU THINK THAT THAT PLAYS OUT ON IT OF THOSE KEY WHEAT GROWING AREAS THIS YEAR??? SO IN THE WESTERN CORN BELT WHERE IT WHERE I'M AT IT IT 'S DEFINITELY LESS FAVORED THAN SOYBEANS. WE'VE SEEN THE EXCELLENT SOYBEAN YIELD ON THE WESTERN CORN BELT, NORTHERN TIER OF THE CORN BELT ABSOLUTELY I THINK OF ACRES ARE IN PLAY THEY GO TO SOYBEANS RATHER THAN WHEAT. ABSOLUTELY THE WHEAT PRICES, EVEN IN THE SPRING WHEAT MARKET WHICH HAS BEEN MORE FAVORABLE DEFINITELY COMPARED TO THE TWO THAT THE WINTER WHEAT VARIETIES, NEVERTHELESS YOU HAVE TO HAVE EXTREMELY FAVORABLE YIELDS EVEN COMPETE WITH SOYBEANS. BUT THE WINTER WHEAT THAT IS POINT IT WILL HERE IS A POSSIBLE DAMAGE OF THOSE WARMER TEMPERATURES AND WE'VE HAD THIS COLD WEATHER COMES THROUGH BUT IS THAT ENOUGH TO REALLY MOVE THE MARKETS AT THIS POINT?? I DON'T THINK SO AT THIS POINT BECAUSE OF THE SOUTHERN HEMISPHERE CROPS OUT OF AUSTRALIA AND ARGENTINA ARE BUMPER CROPS--LARGEST CROP EVER OUT OF AUSTRALIA. THAT'S BEEN HARVESTED SO THAT 'S TREMENDOUS COMPETITION STILL AHEAD OF US THE SUMMER. THE ONE WILDCARD KEEP IN I WOULD BE PLACES LIKE EUROPE AND RUSSIA. COURSE THEIR CROPS AND THAT MADE IT OVER THERE. WELL THIS WEEK WE GOT A GLIMPSE OF THE PRESIDENT 'S BUDGET PROPOSAL YOU KNOW ON SOME CUTS TO USDA 'S IN CUTS TO THE E P A BUT IT DOESN'T LOOK LIKE AT THIS POINT CROP INSURANCE IS GOING TO BE TOUCHED YET. DOESN'T DOESN'T LOOK LIKE IT 'S ON THE CHOPPING BLOCK AS OF NOW SO WHAT WHAT CAN PRODUCERS BE DOING TO USE CROP INSURANCE AND AS A RISK MANAGEMENT TOOL??? IT CAN BE THOUGHT OF SORT OF PHILOSOPHICALLY AS THE AS A FEDERALLY SUBSIDIZED PUT OPTION. IT 'S PUTTING SOME FLOOR IN THERE FOR YOU IF THE MARKETS, ESPECIALLY THAT THE REVENUE PRODUCTS, IF THE MARKETS TOTALLY FALL APART BETWEEN NOW AND HARVEST. AND I WILL POINT OUT THAT EVEN THOUGH THE MARCH FIFTEENTH DATE HAS PASSED, THERE ARE SOME ADD ON PRODUCTS, PRIVATE PRODUCTS THEY'RE NOT FEDERALLY SUBSIDIZED THAT ARE STILL AVAILABLE. I THINK YOU'RE FINE FOR THOSE IS IN UNTIL THE END OF THE MONTH. YOU MIGHT STILL LOOK AT THAT IF WE FEEL LIKE YOU DON'T HAVE ENOUGH RISK PROTECTION ON AND YOU PERHAPS DON'T WANT A BROKERAGE ACCOUNT. OR FOR WHATEVER REASON IT MIGHT BE SOMETHING YOU REALLY LOOK AT. DO YOU THINK THAT SOME CROP INSURER I WOULD I HOPE WOULD BE YES. ABSOLUTELY IN THE APRIL CONTRACT THAT THAT SEVENTY THREE FIVE LEVELS TOO HIGH. AND I KNOW YOU'RE WATCHING THE CATTLE MARKET AND WHAT DIRECTION DO YOU THINK WERE TAKING THERE?  WE'VE REALLY SEEN CONSTRUCTIVE FUNDAMENTALS IN THE CATTLE MARKET. WE SEEN THE BOXED BEEF PRICES THE HIGHEST PRICES WE'VE SEEN SINCE LAST JUNE. WE'RE SEEING THE CASH MARKET TO REMAIN IN A SUBSTANTIAL PREMIUM TO THE FUTURES MARKET. SO AGAIN THERE 'S ALWAYS CAUTION I DON'T GET CARRIED AWAY BY THE TIME BEING OR SOME CONSTRUCTIVE NEWS THERE FOR THE CATTLE MARKET. BUT ANY TIME YOU GET THAT THAT THE BEEF SUPPLY OR THE PORK SUPPLIES COMING ON, TO GET BE CAREFUL BUT MORE CONSTRUCTIVE NEWS FOR CATTLE. WELL HOPEFULLY OUR VIEWERS UP TO THEIR BEEF CONSUMPTION ON FRIDAY AS IT WAS ST PADDY 'S DAY AND AGE THAT CORNED BEEF AND CABBAGE AND THEN WE COULD EAT THROUGH SOME MORE OF THAT SUPPLY AS WELL. ARE WE TO GET THEIR CLOSING THOUGHTS SO LET 'S TAKE A SHORT BREAK WE'LL BE BACK ON YOU

MARKETS NOW
WELCOME BACK TIME NOW FOR CLOSING THOUGHTS. ELAINE WE'LL START WITH YOU. YOU WILL FEEL MUCH BETTER IF YOU GOT SOME SORT OF DOWNSIDE RISK PROTECTION ON BEFORE THAT MARCH THIRTY FIRST ST. THERE 'S ALMOST ALWAYS A BIG VOLATILITY ON THAT DATE.  I LOOKED AND IT 'S BEEN EIGHT OUT OF THE PAST TEN YEARS WE'VE HAD DOUBLE DIGIT MOVES IN CORN AND SOYBEANS ON THE MARCH THIRTY FIRST PLANTING DATE. AVERAGE MOVE EITHER UP OR DOWN IS FOUR PERCENT. A COUPLE OF THOSE ARE LOCKED LIMIT DOWN. IF WE ARE IF CORN AND BEANS LOCKED LIMIT DOWN, FOR A FARMER, A MEDIAN AND A FARMER WHO WAS EXPECTING TO BRING IN SEVENTY ONE THOUSAND OF INCOME, THAT'D BE LIKE TAKING A FIVE THOUSAND DOLLARS PAY A HIT FOR THE YEAR. YOU'RE GONNA WANNA HAVE A RISK PROTECTION IN PLACE. AT THE POINT HE AND BRYANT THE BIGGEST THING WE PICKED UP THIS WINTER IS THE LARGER THAN NORMAL PERCENTAGE OF OLD CROP CORN IS STILL BEING HELD THE COUNTRY BY PRODUCERS. SO WHAT I WOULD ENCOURAGE YOUR VIEWERS TO THINK ABOUT GET CONTROL OF YOUR OLD CROP INVENTORY. TERMENDOUS AMOUNT OF RISK THERE IF YOU HAVEN'T PRICED MUCH NEW CROP CORN. STILL GOT A LOT OF THAT OLD CROP CORN. THERE ARE TOOLS YOU CAN USE TO MANAGE BOTH DOWNSIDE AND THE UPSIDE AHEAD OF THE GROWING SEASON IN BRAZIL BUT GET CONTROL. GET SOME POSITIONS IN PLACE ON THAT OLD CROP CORN. WE APPRECIATE IT. STAY WITH US. JOHN PHIPPS JOINS US WHEN WE COME BACK.

JOHN’S WORLD
THERE'S A BIG DEBATE GOING ON IN OUR INDUSTRY  RIGHT NOW.. WHAT CAN ACUTALLY BE CALLED MILK?  JOHN DISCUSSES DURING HTIS WEEKEND'S JOHN'S  WORLD.  WHAT WAS ONCE A CURIOUS, ALMOST HUMOROUS BICKERING BETWEEN  DIFFERENT FOOD SECTORS HAS TURNED MORE SERIOUS. DAIRY FARMERS  AND LAWMAKERS WHO REPRESENT THEM ARE ADVANCING A FIGHT TO  RECLAIM THE USE OF THE WORD "MILK". AS FLUID MILK CONSUMPTION  CONTINUES ITS DECADES LONG DECLINE, THE GROWTH OF ALTERNATIVE  MILK PRODUCTS, NOTABLY SOY AND ALMOND MILK, HAS RISEN. THE DAIRY  INDUSTRY IS PRESSING THE FOOD AND DRUG ADMINISTRATION TO  ENFORCE A DEFINITION OF MILK AS A LACTEAL SECRETION, WHICH STRIKES  ME AS AN AWKWARD MARKETING SLOGAN AT BEST. MEANWHILE THE NON- DAIRY PRODUCT INDUSTRY IS AWARE THEY ALSO HAVE A LABELING  PROBLEM. PLANT-BASED BEVERAGE DOESN'T EXACTLY ROLL OFF THE  TONGUE. SO FAR COURTS HAVE MOSTLY SIDED WITH THE NON-DAIRY  INDUSTRY, REASONING CONSUMERS KNOW FULL WELL SOY MILK DOESN'T  COME FROM A COW. I TEND TO SIDE WITH DAIRY FARMERS IN THIS DISPUTE, BUT I'M REALLY NOT  DEEPLY INVESTED. WHAT I AM WONDERING IS WHAT WINNING IS  SUPPOSED TO ACCOMPLISH. THERE IS THE FAINT BUT REAL POSSIBILITY  LEGISLATION RESERVING THE WORD MILK TO DAIRY SOURCES COULD IMPACT  OTHER COMMON MISLABELS SUCH AS PEANUT BUTTER BY SETTING A  LEGAL PRECEDENT. BUT MORE THAN THAT, I CAN'T FIND ANY INFORMATION  ABOUT HOW THIS THE OUTCOME OF THIS ARGUMENT MIGHT IMPROVE  SALES OF COW MILK. MAYBE THE INDUSTRY HAS SOME RESEARCH THAT IS  NOT PUBLIC, BUT WILL FORCING ALMOND MILK TO CHANGE ITS NAME SHIFT  CONSUMERS TO MILK MILK? IT SEEMS TO ME CONSUMERS ARE ACTIVELY  MAKING A DECISION AWAY FROM DAIRY FOR DIGESTIBILITY, TASTE, AND  REAL OR IMAGINED HEALTH CONCERNS. IS THE RISING VISIBILITY OF THIS  DISPUTE GOOD PUBLIC RELATIONS FOR THE INDUSTRY? I HAVE NO IDEA,  BUT I HOPE DAIRY OFFICIALS HAVE GAMED THIS OUT.  I SUSPECT THAT THIS  NAMING BATTLE IS SOMETHING THAT PLAYS WELL WITH DAIRY FARMERS  MORE THAN SOLVES A MARKETING CHALLENGE. THIS PATTERN OF FIGHTING  LARGELY SYMBOLIC BATTLES TO UNITE OR PANDER TO MEMBERS OF A  SECTOR CONSUMES TOO MUCH OF AG'S TIME AND ATTENTION, IN MY  OPINION. IT'S DISPUTED WHO SAID, "ACADEMIC POLITICS ARE SO VICIOUS  BECAUSE THE STAKES ARE SO SMALL", BUT I THINK THERE IS A CHANCE  THIS ADAGE COULD APPLY IN THIS CASE. THANKS, JOHN.

TEASE
WHEN WE COME BACK, IT'S IN THE  TOUGHEST TIMES THAT AGRICULTURE'S TRUE  CHARACTER SHINES. THAT CONTINUES TO BE THE CASE  AS OUR FRIENDS IN THE PLAINS RISE FROM THE ASHES  TO REBUILD. WE'LL SHOW YOU THE TRUE DEFINITION OF  KINDNESS COMING UP LATER ON OUR SHOW. 

HEADLINES
WELECOME BACK TO U-S FARM REPORT. WE HAVE  MUCH MORE AHEAD. WORKING TO HELP GROWERS PRODUCER BETTER  BEANS AND GET PAID FOR IT. RISING FROM THE ASHES, HELPING HANDS ARE HELPING  WITH WILDFIRE RECOVERY. WE HAVE BOOTS ON THE  GROUND. AND A WORD FROM THE WISE, OR IN THIS CASE, FROM  JOHN. THAT'S CUSTOMER SUPPORT. 

TRUMP’S BUDGET BLUEPRINTS
NOW FOR THE HEADLINES,  PRESIDENT DONALD TRUMP'S ADMINSTRATION  RELEASING WHAT THEY ARE CALLING A HARD-POWER  BUDGET WITH  CUTS TO BOTH USDA AND EPA. OFFICIALS SAY IT'S THE PRESIDENT'S EFFORT TO  SHRINK THE ROLE OF THE GOVERNMENT, GOING AFTER  WASTE AND DUPLICATE PROGRAMS.  THE PRESIDENT'S FISCAL YEAR 2018 BUDGET PROPOSAL  CALLS FOR A 21 PERCENT CUT TO DISCRETIONARY  SPENDING AT THE AG DEPARTMENT, INCLUDING CUTS  TO COUNTY-LEVEL STAFF.  PROGRAMS LIKE FOOD SAFETY, RURAL DEVELOPMENT,  CONSERVATION FUNDING AND RESEARCH GRANTS  ALSO FALL UNDER THE DISCRETIONARY SPENDING  UMBRELLA.  BUT NEARLY 500 MILLION DOLLARS OF THAT SAVINGS  WILL COME FROM THE WASTE AND WASTE DISPOSAL  LOAN AND GRANT PROGRAM, WHICH HELPS WITH RURAL  WATER AND WASTE INFRASTRUCTURE.  THE PROPOSAL ALSO SUGGESTING A 31 PERCENT  REDUCTION IN EPA FUNDING. THAT WOULD EPA'S  BUDGET AT 5 POINT 7 BILLION DOLLARS. THE  PRESIDENT'S PLAN SLASHING WHAT'S ALLOTTED FOR  ALTERNATIVE ENERGY EFFORTS.

FARM BILL AND PROPOSED BUDGET CUTS
THAT BUDGET PROPOSAL MADE WITHOUT THE HELP OF  AN AG SECRETARY.  BUT THE SENATE ANNOUCING THIS WEEK THAT FORMER  GOVERNOR SUNNY PERDUE'S CONFIRMATION HEARING  WILL TAKE PLACE THIS THURSDAY, MARCH 23.  FARM BILL TALKS MAY BE EVEN TOUGHER WITH SUCH  STRONG CUTS TO THE BUDGET.  FARM BILL GROUPS ALREADY MAKING PLEAS TO  CONGRESS TO COME UP WITH AN EVEN STRONG  SAFETY NET, CITING A 50 PERCENT REDUCTION IN FARM  INCOMES.  JUST THIS WEEK, MORE THAN 60 AG GROUPS SENDING  LETTERS TO CONGRESS AND USDA EXPLAINING THE  NEED FOR A FEDERAL PROGRAM, DESCRIBING IT AS A  RISK MANAGEMENT TOOL.  AMERICAN FARM BUREAU'S MARY KAY THATCHER SAYS  FEDERAL CROP INSURANCE STILL HAS THE LARGEST  TARGET ON ITS BACK IN THE UPCOMING FARM BILL.  <PRIMARILY BECAUSE WHEN YOU LOOK AT COMMODITY PROGRAMS AND  CONSERVATION PROGRAMS, AND CROP INSURANCE, IT'S GOT THE MOST  MONEY. IT'S LIKE WHY DO YOU ROB A BANK? THAT'S WHERE THE MONEY  IS, THE SAME THING WITH CROP INSURANCE, AND I THINK WE'RE GOING TO HAVE TO WORKT HIS YEAR, NOT ONLY ARE WE CONCERNED ABOUT  MAINTAINING CROP INSURANCE IN TEH FARM BILL, WE'RE LIKELY TO HAVE  RECONCILATION BILLS THIS YEAR, BE IT FOR TAX REFORM, OR BE IT FOR  IMMIGRATION, > THATCHER IS ALSO CONCERNED ABOUT THE BUDGET,  SAYING IN THESE DESPERATE TIMES IN FARM COUNTRY,  FARM PROGRAMS NEED MORE FUNDING. 

CASH RENTS TAKING HIT
CASH RENTS TAKING A MAJOR HIT THIS YEAR, DOWN 16  PERCENT FROM LAST YEAR. THAT'S ACCORDING TO THE LATEST RURAL MAINSTREET  INDEX FROM CREIGHTON UNIVERSITY, WHICH SURVEYS  AG BANKERS. THOSE SURVYED SAY TEH AVERAGE CASH RENT FOR  CROPLAND FELL TO 212 DOLLARS PER ACRE.  BUT THE OVERALL INDEX REMAINS BELOW GROWTH  NEATURAL FOR THE 19TH STRAIGHT MONTH. IT NOW  SITS AT 45 POINT 3, A SLIGHT DROP FROM THE 45 POINT  8 WE SAW LAST MONTH. THE RMI ALSO FOUND SEVEN OUT OF 10 BANK CEOS  EXPECT LOAN DEFAULTS TO RAISE OVER THE NEXT 12  MONTHS. 

AVIAN FLU IN ALABAMA
AG OFFICIALS IN ALABAMA ARE BANNING THE  TRANSPORTATION OF CERTAIN POULTRY AS THE STATE  INVESTIGATES THREE POSSIBLE CASES OF AVIAN FLU. THIS INVESTIGATION COMES A WEEK AFTER POULTRY  TESTED POSITIVE FOR HIGHLY PATHOGENIC AVIAN FLU  IN NEIGHBORING COUNTIES IN TENNESSEE. THE ALABAMA STATE VETERINARIAN SAYS ONE CASE  INVOLVES A COMMERICAL OPERATION IN LAUDERDALE  COUNTY. ANOTHER CASE IS A BACKYARD FLOCK IN MADISON  COUNTY. THAT COUNTY IS ADJACENT TO THE  TENNESSEE COUNTY WHERE THE FIRST AVIAN CASE WAS DETECTED.  SAMPLES HAVE BEEN SENT TO USDA LABS FOR  TESTING.

PINK SLIME TRIAL
ABC NEWS IS ON TRIAL IN SOUTH DAKOTA, OVER IT'S  REPORTING OF LEAN FINELY TEXTURED BEEF, OR WHAT  THEY DUBBED AS PINK SLIME.  BEEF PRODUCTS INCORPORATED ORIGINALLY FILING  THE DEFAMATION LAWSUIT IN 2012.  NOW A SOUTH DAKOTA STATE JUDGE HAS ORDERED  ABC BROADCASTING TO GO TO TRIAL. THE JUDGE DID DISMISS CLAIMS AGAINST ACHOR DIANE SAWYER, BUT SAID ABC MUST DEFEND ITSELF IN  COURT.  THE JURY TRIAL IS SCHEDULED FOR JUNE 5TH.  BPI IS SEEKING 5 POINT 7 BILLION DOLLARS IN  DAMAGES, AFTER RETAILERS SUCH AS WALMART  STOPPED SELLING THE GROUND BEEF AFTER THE ABC  REPORTS. 

NORTH EAST SNOW
THOSE ALONG THE EAST COAST ARE STILL DIGGING  OUT FROM A MASSIVE SNOWSTORM THIS WEEK.  THE NATIONAL WEATHER SERVICE SAYING MORE THAN  40 INCHES FELL ACROSS PORTION OF THE NORTHEAST  TUESDAY NIGHT, JUST MISSING THE RECORD SET IN  1993. ACCORDING TO OUR PARNTERS AT FARM  JOURNAL'S MILK MAGAZINE, SOME DAIRIES ARE HIT  HARD, THESE PICTURES ARE PROOF. EVEN MILK  TRUCKS FORCED TO DUMP MILK DUE TO ROAD  CLOSURES. THERE'S EVEN BEEN REPORTS OF BARNS  COLLAPSING. 

GEORGIA FREEZE
GEORGIA'S BERRY AND PEACH GROWERS FELT THE BITE OF MOTHER NATURE THIS WEEK, AS TEMPS DIPPED  DOWN INTO THE 20S. STATE AG OFFICIALS TELLING OUR  PARTNERS AT THE PACKER THAT ASSESSMENT IS STILL  UNDERWAY, SO THE EXTENT OF DAMAGE IS STILL IN  QUESTION. GEORGIA'S 400 MILLON DOLLAR BLUEBERRY CROP  APPEARS TO BE THE HARDEST HIT BY THE FREEZE.  HERE'S A PICTURE TAKEN  BY A GROWER IN WARE  COUNTY, GEORGIA. HE THINKS THE MAJORITY OF HIS  1700 ACRES OF BLUEBERRIES WERE KILLED. 

WEATHER
THAT'S IT FOR NEWS...METEOROLOGIST MIKE  HOFFMAN GIVES US A LOOK AT WHAT TO EXPECT OVER THE NEXT 30 DAYS.  THANKS TYNE AND THAT 'S RIGHT RIGHT NOW OUR WEATHER PATTERN WHERE  I THINK THERE 'S A STORM SYSTEM COMING WEST TO EAST EVERY TWO OR  THREE DAYS AND THAT 'S GONNA CAUSE A LOT OF CHANGES ESPECIALLY  IN THE NORTHERN TIER OF STATING SEE AS WE AS A STARTER AND THE  WEEKEND AND START THE WEEK WE'RE GOING TO BE VERY COLD IN THE  NORTHEAST CHILI IN THE NORTHWEST BUT MILDER THROUGH THE MIDDLE OF  THE COUNTRY NOTHER TROUGH DIVES TO THE GREAT LAKES AND INTO THE  NORTHEAST FOR THE MIDDLE OF THIS WEEK THAT WILL BRING ANOTHER SHOT  OF COLDER ESPECIALLY NEW ENGLAND MILD STUFF CONTINUES IN THE  MIDDLE AND THEN WE SEE SOME DROPS MOVING FROM WEST TO EAST  ACROSS THE COUNTRY THIS COULD BE A PRETTY DECENT AND WET STORM  SYSTEM PULLING UP A FAIR AMOUNT OF GOUGH MOISTURE SO WE'LL BE  WATCHING THAT YOU JUST SAY THE TROUGH AFTER TROUGH CONTINUING TO  COME AND THERE 'S MY THIRTY DAY OUTLOOK FOR CHAPTERS OF OUR  NORMAL CENTRAL SOUTHERN PLAINS INTO THE SOUTHEAST FOR THE  NORTHEAST AND THE FAR NORTHERN TERRORIST STATES BELOW NORMAL  PRECIPITATION OVER THE NEXT THIRTY DAYS ABOVE NORMAL THROUGH THE  CORN BELT A LITTLE THE COUNTRY BACK INTO THE NORTHWEST BELOW NORMAL OVER PARTS OF FLORIDA TEXAS AND THE DESERT  SOUTHWEST. TYNE THANKS, MIKE. 

FARM JOURNAL REPORT
SOYBEANS HAVE SHOCKED AND SURPRISED MANY  OVER THE PAST FEW YEARS. PARTLY FROM YIELD IMPROVEMENT, PARTLY FROM  ACREAGE GROWTH-- NOW INDUSTRY LEADERS ARE  LOOKING TOWARD THE FUTURE--SEARCHING FOR A  WAY TO CONTINUE TO DRIVE VALUE FOR GROWERS  BASED ON QUALITY. CLINTON GRIFFITHS HAS THIS WEEK'S FARM JOURNAL  REPORT.  THERE ARE PLENTY OF INCENTIVES FOR FARMERS LIKE  JOHN KENNAY TO PLANT MORE SOYBEANS. I SWITCHED ABOUT 30 PERCENT OF MY ACRES TO BEANS.  THAT'S STRICTLY DRIVEN BY THE BOARD OF TRADE. 51 GOOD PRICES AND BIG YIELDS ARE HELPING TO DRIVE  PLANTED ACRES.  I MEAN, SOME OF THE YIELDS SOYBEAN FARMERS HAD CONSISTENTLY ACROSS THEIR FIELDS, HEARING REPORTS OF 70 OR 75  BUSHEL YIELDS ACROSS SOME OF THEIR FARMS ARE ABSOLUTELY  AMAZING. THAT'S THE PRODUCT OF BETTER GENETICS AND THE EVOLUTION OF PLANT BREEDING AND MOLECULAR BREEDING THAT'S TAKEN PLACE.  IN 1975 U.S. FARMERS PUT IN ROUGHLY 50 MILLION  ACRES OF BEANS. THIS YEAR THE FORECAST CALLS  FOR 88 MILLION. WE SEE THE GROWING AREA EXPANDING. WE SEE THE VOLUME  EXPANDING. OHIO FARMER AND CHAIR OF THE UNITED SOYBEAN  BOARD, JOHN MOTTER SAYS IN THE LAST SIX TO SEVEN  YEARS THERE'S BEEN ROUGHLY A 30 PERCENT GROWTH  IN THE VOLUME OF THE U.S. CROP.  I SELL THOSE BEANS BY VOLUME BUT THEY BUY IT WHAT'S INSIDE  OF THE BEAN.HE'S TALKING ABOUT THE END USER--THOSE BUYING  BEANS FOR PROTEIN AND OIL.   NO MATTER THE QUALITY OF MY PRODUCT IF MY NEIGHBOR HAS  LOWER PROTEIN OR OIL CONTENT WE'RE BOTH SELLING BY THE BUSHEL. IT'S A  BUSHEL GAME.18:15  IT'S A VOLUME GAME AND WHEN WE ALL PICK  OUR SEED WE ASK THAT DEALER HOW DOES IT YIELD. 18:20HOWEVER, SINCE ROUGHLY 1995, PROTEIN PER ACRE  HAS GONE UP ALONG WITH YIELDS, BUT THE  PERCENTAGE OF PROTEIN IN BEANS HAS FALLEN.  MOTTER SAYS THE SOYBEAN INDUSTRY IS AWARE AND  IT'S LOOKING AT NEW PRICING MODELS TO HELP BUILD  INCENTIVE FOR BETTER BEANS. YOU KNOW THESE DAYS WE LOOK AT ALL OF THIS CROP AND HOW  DO WE GET A BETTER REWARD. 15:16 CAN WE GET PAID FOR THE QUALITY  OF THAT CROP RATHER THAN THE QUANTITY OF THAT CROP. 15:21 THAT MEANS DEVISING A PRICING SYSTEM THAT PAYS  MORE FOR HIGHER PROTEIN OR MORE OIL. THE  SOYBEAN INDUSTRY IS ALREADY WORKING ON  TECHNOLOGY FOR DELIVERY POINTS THAT COULD  QUICKLY TEST FOR THOSE COMPONENTS.  WE HAVE TO BUILD SYSTEMS FROM THE FARM GATE ALL THE WAY  TO THE END USER. EVERYONE ALONG THERE HAS TO EMBRACE THIS AND  YOU KNOW ITS NOT SOMETHING THAT'S GOING TO HAPPEN TOMORROW.  MORE WORK IS NEEDED BUT MOTTER SAYS ITS TIME TO  STARTING ASKING NEW QUESTIONS AT SEEDING TIME...  WHAT IS THE OIL CONTENT OF THIS SEED HOW MUCH PROTEIN DOES  IT HAVE WHAT'S THE AMINO ACID CONTENT OF THAT PARTICULAR VARIETY.  A CONVERSATION THEY HOPE WILL LEAD TO BETTER  BEANS, HIGHER PRICES, AND IMPROVED PERFORMANCE  FROM ONE FARM, TO ANOTHER. (SHOT OF DUMPING  FEED TO PIGS) THANKS, CLINTON.

TEASE
UP NEXT, JOHN PHIPPS.  <U-S FARM REPORT BROUGHT TO YOU BY CASE IH.  RETHINK HOW PRODUCTIVE YOU CAN BE WITH STEIGER  QUADDTRAC AND MAGNUM ROWTRAC TRACTORS FROM  CASEIH. >

CUSTOMER SUPPORT
HENRY FORD ONCE SAID, " ANYONE WHO STOPS  LEARNING IS OLD, WHETHER AT TWENT OR EIGHTY.  ANYONE WHO KEEPS LERANING STAYS YOUNG. THE  GREAT THING IN LIFE IS TO KEEP YOUR MIND YOUNG."  WHAT A GREAT QUOTE-- BUT FOR THOSE WHO ARE  YOUNG IN AGE, JOHN HAS SOME ADVICE.  CONTRARY TO MANY ALARMISTS, THERE IS NO SHORTAGE OF YOUNG  PEOPLE WANTING TO FARM. BUT WHAT ADVICE SHOULD GEEZERS LIKE ME  GIVE THEM? "MY GOAL IS TO BECOME A SUCCESSFUL, 1ST-GEN CATTLE PRODUCER.   AND WHILE MY LOCAL PEERS ARE MORE THAN WILLING TO HELP AND  SHARE THEIR INFORMATION, IT IS OFTEN IRRELEVANT TO MY SITUATION  BECAUSE THEY ARE 3RD, 4TH AND 5TH GEN FARMERS WITH ESTABLISHED  LAND, PROCESS, AND MACHINERY, COUPLED WITH DECADES OF HANDS  ON TRAINING FROM ELDER FAMILY MEMBERS. IT SEEMS MY BIGGEST  CHALLENGE IS THE DAILY PSYCHOLOGICAL BATTLE TO OVERCOME THE  WIDESPREAD BELIEF THAT "A SMALL GUY JUST CAN'T START A SUCCESSFUL  OPERATION FROM SCRATCH THESE DAYS." THAT'S FROM KYLER TARWATER IN VALLEY FALLS, KANSAS. OLDER  FARMERS FRANKLY STRUGGLE WITH THIS QUESTION FROM YOUNGER ASPIRING  PRODUCERS FOR GOOD REASON. WE WANT TO BE REALISTIC WITHOUT  BEING NEGATIVE. THOSE GOALS ARE HARD TO BALANCE. AS YOU HAVE  NOTED YOURSELF, MOST OF YOUR PEERS ARE NOT FIRST GENERATION.  GIVEN AGRICULTURE'S ACCELERATING SHIFT FROM LABOR INTENSIVE TO  CAPITAL INTENSIVE, AND COUPLING THAT WITH THE HIGH VALUE WE  ACCORD MULTI-GENERATION FARMS, THE ODDS OF SUCCESS FOR STARTUP  OPERATIONS ARE VERY LONG INDEED. BUT NOT ZERO. IT SEEMS TO ME THE MOST LIKELY PATHS ARE THOSE THAT CAPITALIZE ON  YOUNG FARMER ASSETS LIKE THE BETTER TRAINING AND ENORMOUS  ENERGY. THIS SUGGESTS INNOVATIVE, HIGH VALUE PRODUCTION, LIKE  ORGANIC OR SOME OTHER LABOR INTENSIVE PRODUCT. I CANNOT SPEAK TO  THE CATTLE INDUSTRY- IT'S BEEN DECADES SINCE OUR FEEDLOT EMPTIED,  BUT WE HAVE A NEIGHBOR WHO IS BEGINNING A HERD OF MINIATURE  CATTLE, FOR MANY OF THE REASONS YOU MENTIONED. I WOULD ALSO SUGGEST THAT YOUR EARLY CAREER SHOULD BE SPLIT  BETWEEN BUILDING YOUR OPERATION AND EMPLOYMENT. YOUNG  PRODUCERS HAVE TOO MUCH VALUE TO OFFER THE LABOR MARKET AND  THOSE SKILLS AND ENERGY OFTEN CANNOT BE FULLY ABSORBED ON A  SMALL FARM. TAKE ADVANTAGE OF EVERY LEARNING OPPORTUNITY, EVEN  THOSE THAT MAY SEEM UNRELATED. INFORMATION IS CHEAP, AND  TEAMED WITH IMAGINATION YOU MAY BE ABLE TO CONNECT IDEAS WITH  OPPORTUNITIES. FINALLY, SET BENCHMARKS BY WHICH YOU MEASURE  PROGRESS AND DETERMINE THE VIABILITY OF YOUR DREAM. ONE OF THE  SADDEST OUTCOMES FOR YOUNG FARMER FAMILIES IS BEING UNABLE TO  REALIZE WHEN TO PURSUE ANOTHER DREAM.

TEASE
DEFINITELY SOME FOOD FOR THOUGHT. THANK YOU  JOHN. IF YOU HAVE QUESTIONS OR COMMENTS, OR  ADVICE TO ADD, JUST SEND JOHN AN EMAIL- MAILBAG  AT U-S FARM REPORT DOT COM.  UP NEXT, HELPING A NEIGHBOR AFTER TRAGEDY. WE'LL HAVE THE STORY FROM THE PLAINS. <WITH MARKET PRICES CONSTANTLY CHANGING, IT'S  IMPORTANT TO KNOW WHERE CURRENT PRICES STAND.  GET MARKET PRICES DELIVERED RIGHT TO YOUR  MOBILE PHONE, JUST TEXT MARKETS TO 31313 TO GET STARTED!>

4-H BOTTLE CALVES FROM KANSAS WILDFIRES
DEADLY WILD FIRES BURNED ACROSS THE HIGH PLAINS  LAST WEEK, ROLLING ACROSS KANSAS, OKLAHOMA,  TEXAS AND COLORADO- DESTROYING ACRES,  STRUCTURES AND EVEN TAKING THE LIVES OF  RANCHERS AND LIVESTOCK.  ONE OF THE HARDEST HIT AREAS IS CLARK COUNTY,  KANSAS, WHERE MORE THAN HALF OF ITS COUNTY'S ACRES ARE CHARRED- MAKING THIS THE MOST  HISTORIC FIRE EVER.  NOW, THE STATE'S YOUNGEST FARMERS ARE HELPING  IN AN UNIQUE WAY.  BETSY JIBBEN HAS THE STORY. ASHES ARE BLANKETING CLARK COUNTY, KANSAS,  CHARRED REMAINS A DARK REMINDER THAT RECOVERY  FOR THESE COMMUNITIES IS FAR FROM OVER.  <"HE'S SINGED ALL OVER. CAN YOU IMAGINE THAT?"> SOME BABY CALVES - LIKE THESE - ARE NOW  ORPHANED FROM THEIR MOTHERS SOME DIED OTHERS  WERE NO LONGER ABLE TO TAKE CARE OF THEM  BECAUSE OF THEIR INJURIES IN THE FIRE. <"THIS WAS ALL THAT WAS LEFT - 4 CALVES AND FOUR MATURE HEIFERS  THAT DIDN'T PAIR UP WITH ANYTHIN<"TAKE THIS, HANG IT, SOME HERE, COME HERE,"> BUT NOW, NOT ALL ORPHANS ARE ABANDONED.... <"HERE, ATTA GIRL "> THANKS TO HELP FROM THE NEXT COUNTY OVER AND  HE FOUR LEAF CLOVERS 4H CLUB OF MEADE, KANSAS,  THESE ORPHANS ARE FINDING TEMPORARY HOMES. <"HE CHEWS SO THAT'S GOOD. HOLD 'ER UP, (HOLDING BAG) MOM  DOESN'T HE NEED A BETTER TONGUE? YES, HE NEEDS A BETTER  TONGUE,"> FARMERS OF ALL AGES - EVEN SOME 'RETIRED' FROM 4H  - ARE TAKING IN ABANDONED BUCKET CALVES FROM  THE COUNTIES AFFECTED - BRINGING THEM HOME,  PUTTING  ON A BOTTLE AND NURSING THEM BACK TO  HEALTH. <"I FEEL BAD FOR THEM. I THINK THEY HAVE COWS AND NOTHING TO BRING  THEM BACK TO,"> SO FAR, THE GROUP HAS TAKEN IN ALMOST 90 CALVES THAT NUMBER IS STILL RISING EVEN DAYS AFTER THE  BLAZE.   "THESE ARE SOME OF  THE BETTER CALVES WE'VE GOTTEN IN."> WHILE SOME ARE HEALTHY,  OTHERS ARE IN WORSE CONDITION.... <"I'VE CRIED A LOT. IT'S HEARTBREAKING. WE HAD TO SEND TWO OFF LAST  NIGHT. WE WERE DETERMINED WE WERE GOING TO SAVE,"> <"THIS ONE HAS SOME PRETTY BAD  BURNS, IT'S EARS ARE BURNED, T HERE IS A LOT OF SINGED HAIR,"> <"BUT I'M MORE WORRIED ABOUT THE ONE WITH TEH SWOLLEN TONGUE  THAN THIS ONE,"> LOVE AND CONCERN THAT ISN'T SHORT TERM.BUT IT'S NOT ABOUT PUTTING IN THE TIME, OR EVEN  TAKING CARE OF ANIMALS, IT'S ABOUT TEACHING THESE  YOUNG KANSANS A LESSON ABOUT LIFE. \<"IT TEACHES YOU TO TAKE CARE OF YOUR STUFF AND HAVE  RESPONSIBILITIES SO WHEN YOU HAVE KIDS AND STUFF YOU CAN SHOW  THEM AND HAVE THEM CARE ABOUT RESPONSIBILITIES,"> <"I WANT TO SHOW MY KIDS YOU HELP PEOPLE NO MATTER HOW MUCH TIMEYOU DIDN'T HAVE BEFORE IT HAPPENED,">IT'S THE HELP THEY'RE GIVING RANCHERS AND  VETERNARIANS IN THE COUNTY THAT'S SO VALUABLE... WHILE THEY CONTINUE TO WORK. AND FOR RANCHERS WHO CAN'T DURING THIS TIME OF  TRAGEDY,  "THERE'S A LOT OF COMPASSION IN THE STATE, IT'S  BROUGHT US TOGETHER,"> THE TOWNS AND ITS FUTURE FARMARE DEMONSTRATING THEIR LOVE FOR THE LIVES LEFT  BEHIND.  REPORTING FOR U.S. FARM REPORT, I'M BETSY JIBBEN. THANKS BETSY.  MANY HAVE DONATED MILK REPLACER, ELECTROLYTES,  BEDDING, BOTTLES AND OTHER SUPPLIES TO THE  GROUP.  AND THE NEAT THING IS MANY RANCHERS ARE LETTING  THE KIDS KEEP THE CALVES UNTIL AFTER THE FAIR TO  SHOW THEM AS WELL. 

TEASE
WHEN WE COME BACK, TRACTOR TALES AND OUR  COUNTRY CHURCH SALUTE...PLEASE STAY WITH US.

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 HEADING TO NORTHEASTERN ILLINOIS THIS WEEK TO SHOW OFF AN ALLIS D21. THIS TRACTOR MADE IT’S WAY FROM TEXAS AND THE HANDS OF AN FFA MEMBER WHO RESTORED IT JUST A FEW YEARS AGO.  IT’S ONE OF THE FIRST ALLIS-CHALMERS TO  HAVE A TURBO, WHICH WAS A FAVORITE FOR THIS COLLECTOR. MY MOM AND DAD OWNED THIS TRACTOR WHEN THEY PURCHASED IT FROM A GENTLEMAN OFROM ILLINOIS THAT HAD A TRACTOR ABOUT SIX YEARS. I THINK WE'VE HAD IT ABOUT FOUR.  THIS FACTOR ACTUALLY WAS RESTORED BY A A FFA-ER FROM TEXAS AND IT WAS AN A C DELCO RESTORATION COMPETITION AND WON, I ACTUALLY SAW THIS TRACTOR AND THE FARM PROGRESS SHOW IN THE TITAN TIRE THE BOOTH THE YEAR HE WON AND A GENTLEMAN FROM NORTHERN ILLINOIS PURCHASED THE TRACTOR FROM HIM IN AND THEN WE ENDED UP WITH THAT ABOUT FOUR YEARS AGO AND OBVIOUSLY IT WAS FULLY RESTORED AND I WOULD. I WOULD CALL A NUT AND BOLT RESTORATION AND NOW WE JUST WE PARADE IT A LITTLE BIT AND TRACTOR SHOW 'S IN THE GENTLEMAN THAT RESTORED IT DID A PHENOMENAL JOB IN MY OPINION AND PEOPLE ARE USUALLY PRETTY IMPRESSED WITH THE QUALITY OF THE RESTORATION JOB IT 'S ABOUT TEN ELEVEN YEAR OLD RESTORATION SO ITS GOT SOME AGE UNDER IT AND OBVIOUSLY IT'S BEEN THERE 'S GOT THREE POINT NO PTO BUT IT DOES HAVE THREE POINT WHICH A LOT OF THEM CAME WITHOUT THREE POINT. PTO BELIEVE IT 'S ONE OF THE FIRST ALICE CHALMERS THAT HAD A TURBO A LITTLE BIT YOUNGER THAN IN SOME OF THE TRACTOR COLLECTOR 'S I GUESS THAT 'S KINDA WHAT I GREW UP GREW UP DRIVING AS A LITTLE KID WAS THIS SEVENTIES SIXTY LATE SIXTY SEVENTIES THERE WHICH WE WERE STILL FARMING WITH AT THE TIME SO KIND OF INTO THAT BUT WHO WOULDN'T LIKE FOR THE D21 IT 'S A PRETTY IMPRESSIVE BEAST AS YOU SIT IN THE SEAT AND LOOK AT THAT WIDE HOOD IN JUST A PRETTY COOL TRACTOR

COUNTRY CHURCH SALUTE
WE HAVE TWO COUNTRY SALTUES THIS WEEK. THE  FIRST GOES TO THE BARRINEAU CHURCH IN LAKE CITY,  SOUTH CAROLINE, CELEBRATING 100 YEARS OF  MINISTRY THIS WEEKEND.OUR THANKS TO BOBBY FLOYD FOR SENDING THAT IN.  ALSO, A CORRECTION TO LAST WEEK'S CHURCH, THE  CHRIST CHURCH LIMESTONE, ALSO REFERRED TO AS  THE OLD STONE CHURCH. IT'S LOCATED IN HANNA CITY, ILLINOIS. THE BEAUTIFUL STRUCTURE IS 172 YEARS OLD  WITH A RICH HISTORY, BUT THEY TELL US THE CHURCH  IS STILL ALIVE AND WELL, WITH A STRONG  CONGREGATION TODAY.

TEASE
WHEN WE COME BACK, MIKE HOFFMAN REJOINS ME FOR  PHOTOS FROM THE FARM. 

FROM THE FARM
WELCOME BACK IT 'S NICE TO BE BACK WITH THE WITH MIKE HOFFMAN,  YOU'VE HAD A COUPLE WEEKS OFF WAS NICE? NOT TWO, WE SPENT A  WEEK AND A HALF IN FLROIDA, YES IT WAS NICE WE WE GOT A LITTLE SUN,  IT FELT LIKE TO TWO. WELL, WE HAVE SOME PHOTOS TO SHARE SOME  PLANTING,  THEY'RE BUSY PLANTING ON TEXAS. CHAD SAYS HE'S  PLANTING HIS LAST 50 ACRES OF CORN, THEN ONTO  BEANS. AND OUR FRIEND LINDSAY KIMBRELL TOOK SOME COOL  DRONE FOOTAGE OF HER HUSBAND TODD PLANTING.  THEY ACTUALLY WRAPPED UP PLANTING THIS WEEK,  ADN IT LOOKS LIKE STRONG CROP STANDS TO START  AND FROM PLANTING TO PREPARING FOR PLANT 17, IT  WILL BE HERE SOONER THAN WE THINK! HOEPFUL FOR A  PROSPEROUS YEAR FOR ALL.   IF YOU HAVE A PICTURE OF VIDEO YOU'D LIKE TO SEND  IN, SEND THOSE TO MAILBAG-AT-U-S-FARM-REPORT-DOT- COM OR CHECK US OUT ON FACEBOOK AND TWITTER.

CLOSE
FROM ALL OF US AT U.S. FARM REPORT, 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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