USFR Weekly Recap - June 25-26, 2011

June 28, 2011 03:59 AM
 

THIS WEEK ON U.S. FARM REPORT
EPISODE #1976
JUNE 25-26, 2011

JOHN’S OPEN: HELLO AND WELCOME TO U.S. FARM REPORT, I'M JOHN PHIPPS. IT HAS BEEN SAID THAT THE PROBLEM WITH FLOODS IS WHILE THEY MAY ONLY AFFECT ONE PERCENT OF THE PEOPLE, THEY AFFECT THEM 100%. AND SO WE WATCH WITH HORROR AS HOUSES AND FARMS SUBMERGE EVEN AS OUR OWN FARMS ARE UNAFFECTED. IT IS THE UNUSUAL TIMING AND COINCIDENCE OF THE FLOODING THAT IS STARTLING. IT'S JUNE - WINTER SNOW MELT AND SPRING RAINS SHOULD BE HISTORY, RIGHT? NOT THIS YEAR, THAT'S FOR SURE. AND THOSE DOWNSTREAM HAVE NO DOUBT WHAT THEIR FUTURE HOLDS. OF THE TWO GREAT WEATHER THREATS FOR OUR FARMSTEAD - WATER AND WIND, AT LEAST TORNADOES ARE OVER IN A HURRY. FLOODS CREATE MISERY THAT IS LONG-LASTING. TIME NOW FOR THE HEADLINES.....HERE'S AL PELL.

RAIL FLOODING: THANK YOU JOHN. GRAIN SHIPMENTS THROUGH THE NORTHERN PLAINS ARE GETTING DIVERTED AS A RESULT OF HISTORIC FLOODING IN NORTH DAKOTA AND MONTANA. BURLINGTON NORTHERN-SANTA FE IS ONE OF THE BIGGEST CARRIERS OF WHEAT. THOSE TRAINS TYPICALLY HEAD TO THE PACIFIC NORTHWEST, WHERE IT'S SHIPPED OVERSEAS. BUT AS YOU CAN SEE, SOME OF THEIR MAIN LINES IN NORTH DAKOTA AND MONTANA HAVE BEEN PUT OUT OF COMMISSION. AS A RESULT, SERVICE IS GETTING RE-ROUTED THRU IOWA AND NEBRASKA. THE MAIN TRACK THRU MINOT, NORTH DAKOTA IS OUT OF SERVICE DUE TO RECORD FLOODING ON THE SOURIS RIVER. IN MONTANA, FLOODING ALONG THE MISSOURI RIVER IS WIPING OUT TRACK.

MAINSTREET INDEX: COUNTRY BANKERS WORRY THAT MISSOURI RIVER FLOODING WILL HURT THE ECONOMY IN TEN MIDWEST AND PLAINS STATES. THE RURAL MAINSTREET SURVEY FROM CREIGHTON UNIVERSITY ROSE TO 56 FROM MAY'S 54.9, WHICH SUGGESTS THE ECONOMY WILL EXPAND. WHILE THE OVERALL SCORE SHOWS IMPROVEMENT, IT ALSO SHOWED NON-URBAN BANKERS FEEL THE FLOODING WILL HURT AGRICULTURE, BUSINESS AND TOURISM SECTORS.

COW HERD: THE LATEST USDA FIGURES SHOW DAIRY COW NUMBERS HAVE REBOUNDED TO MORE THAN 9.2 MILLION HEAD. OUR PARTNERS AT DAIRY TODAY SAY THE LAST TIME COW NUMBERS EXCEEDED THAT NUMBER WAS JULY 2009, IN THE MIDST OF THE GREAT DAIRY RECESSION. THE MAY REPORT SHOWS THE COW POPULATION IS 81,000 HIGHER THAN A YEAR AGO...MOST OF THAT GROWTH WAS OUT WEST. AT THE SAME TIME, DAIRY TODAY SAYS THERE'S BEEN A HERD REDUCTION IN MISSOURI, IOWA AND ILLINOIS. THE USDA ALSO SEES HIGH MILK PRICES FOR PRODUCERS THIS YEAR AND NEXT, BELIEVING A WEAK DOLLAR WILL HELP DAIRY EXPORTS REMAIN STRONG.

SMITHFEILD EARNINGS: SMITHFIELD FOODS SAYS PORK IS HELPING THE COMPANY REGAIN SOME PROFITS. SALES INCREASED MORE THAN 200 MILLION DOLLARS IN ITS FISCAL FOURTH QUARTER ENDING IN MAY. THE COMPANY REPORTS FOURTH-QUARTER INCOME TOTALED JUST UNDER 100 MILLION DOLLARS COMPARED TO A LOSS OF NEARLY FIVE MILLION DOLLARS LAST YEAR. ANALYSTS SAY A COMBINATION OF HIGH PORK PRICES AND GRAIN HEDGES HELPED PUSH MARGINS HIGHER. CEO AND PRESIDENT LARRY POPE SAYS MORE THAN TWO-THIRDS OF PROFITS WERE EARNED BY SMITHFIELD'S PORK BUSINESS SEGMENT.

CROP WATCH: CROP WATCH THIS WEEK IS A THREE-STATE SWING...
IN THE EASTERN CORN BELT OF HOLMES COUNTY OHIO, A PRODUCER TELLS AGWEB CORN LOOKS REASONABLY GOOD. BUT ITS OBVIOUS PLANTING WAS ALL OVER THE PLACE. THE CROP IS IN DIFFERENT STAGES RANGING FROM JUST PLANTED TO 3 FEET TALL. IN CHESTER COUNTY TENNESEE A FARMER SAYS, SO FAR, COTTON IN THEIR AREA HAS BEEN LUCKY TO AVOID DROUGHT STRESS. THE WEATHER HAS THROWN VERY FEW CURVE BALLS. NASS SAYS 70% OF COTTON ACRES ARE IN GOOD TO EXCELLENT CONDITION. AND IN SIBLEY COUNTY, MINNESOTA - SOUTHWEST OF THE TWIN CITIES - A GROWER SAYS MINNESOTA WENT FROM THE LAND OF 10,000 LAKES TO 100,000 LAKES.

ROUNDTABLE: IT'S TIME TO CHAT MARKET. NOW I’M JOINED BY BOB UDDERBACK AND MIKE HOGAN IN JUST TWO MINUTES, PLEASE STAY WITH US. WE HAVE BOB UTTERBACK OF UTTERBACK MARKETING AND MIKE HOGAN FROM STEWART PETERSON. GENTLEMEN, WE'VE HAD AN UNUSUAL WEEK TO PUT IT BLUNTLY. BUT DO YOU THINK IT WILL CONTINUE THE WAY IT IS NEXT WEEK AT. ON NEXT WEEK WE HAVE AN ACRE RECORD AND STOCK REPORT WHICH WILL BE IMPORTANT ON THURSDAY WHEN THE REPORT COMES OUT. I WOULD SUGGEST THAT MONDAY AND TUESDAY THE MARKET WILL EVEN OUT. MONDAY AND TUESDAY THE MARKET WILL TAKE A LOOK AT THE CROP CONDITIONS REPORT, BUT THE ONLY CAVEAT IS SO MUCH THIS WEEK AND INFLUENCED BY THE OUTSIDE MARKET. NOW AT THE OUTSIDE MARKETS AND MAJOR SHOCK. AND THEN WE ALSO HAVE THAT SMATTERING ON TOP WITH THE THING THAT WILL DISH OUT MORE OIL INTO THE OIL MARKET AND THAT WILL PROBABLY BE A SHORT-TERM CONCEPT. AND THOSE ARE ALL THINGS THAT THE MARKET IS WORRIED ABOUT WHAT THE MELTDOWN. YOU HAVE TO GET BEYOND THOSE THINGS. IT SEEMS LIKE A LOT OF GOVERNMENT GOING ON TO HELP MANIPULATE THE MARKET. BUT THE POSITIVE IN OFFICE, 60 DAYS AGO IF YOU HAD TALKED TO ME I WOULD HAVE SAID THAT WE ARE AT THE RISK THAT DEMAND DESTRUCTION OF THAT. PRICES TOO HIGH WITH TWO HIGHER STOCKS. BUT NOW THAT WE HAVE THIS GOOD DOLLAR PLUS CORRECTION OF THE MARKET, I DON'T THINK WE ARE DESTROYING DEMAND, WE ARE ACTUALLY STABILIZING AND MAYBE IMPROVING THE LIVESTOCK TO MEN AND THAT'S A POSITIVE PRODUCER LOOKING FOR A GOOD CROP, AND ALSO SUPPLY COULD GET TIGHT OUT THERE IN DC. WE COULD GET TIGHTER THAN IT IS RIGHT NOW. SO YOU'RE SAYING WE MIGHT BE TIGHTER THAN WE THINK IT'S GOING TO BE, SO WE WILL HAVE THE OUTSIDE MONEY FOR THE MANIFESTING OF THIS CLICK. AND WE DON'T KNOW WHAT WE CAN HAVE UP THERE UNTIL WE GET IN THE COMBINES. AND, IT TURNS OUT BETTER THAN I THOUGHT IT WOULD AND WE SENT IT BACK TO THE MARKET. AND THEIR SUPPORT QUALITY BEING DUMPED IN THE MARKET AND THAT PUTS PRESSURE ON THE OLD CROP CORN ALSO. ILLICITLY SAY THAT THE ONE THING THAT IS FOR SURE, WE CROP FEATURE. ESPECIALLY WHEN YOU LOOK AT THE CORE INSIDE OF THE BALANCE SHEET, IF YOU DON'T HAVE THE CROP OUT THERE, YOU CAN TAKE FOUR OR 5 BUSHELS OFF THE TOP LINE, YOU HAVE THAT NINE OR $10 CORNFIELD COMMITMENT. AND AS BOB SAID, THINGS ARE LOOKING GOOD RIGHT NOW, LET'S SEE HOW JULY AND AUGUST GOES. WHAT YOU SAID NINE OR $10 ON SCENARIOS AND ON THE PLUS SIDE, IT'S LIKE THE OTHER SIDE. WHAT HAPPENS IF WE HAVE FOUR OR 5 BUSHELS TO THE ENDING STOCKS AND LAYING OUT WITH EASTERN INDIANA AND OHIO, IF YOU HAVE A BILLION BUSHELS OR MORE CAN HE MIGHT BE LOOKING AT THE FOUR OR $5 MARK. WE WILL BE BACK WITH MORE ON THIS REPORT IN JUST A MOMENT. WE'RE. AND WE ARE BACK. WE ARE TALKING ABOUT A LOT OF THINGS AND LIKE I WILL START WITH YOU. GRAIN FARMERS HAVE BEEN DOING VERY WELL THE LAST COUPLE YEARS, MOST PEOPLE WOULD AGREE WITH THAT. LIVESTOCK FARMERS HAVEN'T BEEN DOING WELL BECAUSE WE HAVE TO FEED THE SCREEN AND THAT KIND OF THING. SO WHERE WILL WE GO IN THE FUTURE, THE LIVESTOCK HAVE BEEN BETTER ON THIS? AT THOSE PRICES, YOU TALKED ABOUT NINE OR $10 CORN, HOW WILL THEY BE ABLE TO DEAL WITH THIS CLICK. WELL I THINK THAT'S A GREAT QUESTION. THE PRICES BOLSTERED THEMSELVES UP BOTH ON CATTLE AND HOG AND WE GOT AHEAD OF OURSELVES ON SOME DEMAND FIGURES AND SINCE THEN HAVE RETREATED BACK. THE MARKET IS SOMEWHAT COOPERATED AND WE ARE STILL AT A DECENT MARGIN, WHERE THE BUBBLE IF YOU WILL. IF YOU SEE NINE OR $10 CORN, AS WELL AS THOSE ARE AT RISK FOR SOME MAJOR LIQUIDATION OF THAT. WELL, YOU MIGHT DISAGREE WITH THIS BUT IT LOOKS TO ME LIKE YOU'RE ACTUALLY GOING TO GET DOWN AND FIGURE OUT WHAT YOUR COSTS ARE AND FIGURE OUT WHAT YOUR PROFIT POTENTIAL IS BEFORE YOU MAKE THE SEASON, NOT AFTERWARD. IT'S IMPORTANT TO HAVE A PROFIT BUT, THE PRACTICALITY OF IT IS, ONCE YOU ARE MAKING A FOUR OR $500, YOU ARE MAKING THE SECOND LARGEST PROFIT IN CORN FARMING. AND, YOU DON'T WANT TO SELL BECAUSE IT'S GOING HIGHER, BUT FOR YOUR NEIGHBOR MIGHT MAKE MORE MONEY THAN YOU. BUT THESE HOG PRODUCERS, THEY NEED THIS POLL IN AUGUST. TEMPERATURE TAKE CRITICAL LOOK AT GETTING SOME PRODUCTION OF FORM SO THAT THE MARKET DOES EXPLODE NEXT YEAR THEY HAVE PROTECTION TO SELL THAT PURCHASE THAT THEY HAVE TO DO ALONG THE WAY. AND, AND, AND WHATEVER I THINK THAT WILL HOLD CORN BACK TO THAT EVENT. I THINK THE HYPE TO SELL WILL BE RALLIED BY THE ACRES NEXT TRAIN BUT ALMOST INVARIABLY DIFFICULT TO SELL THE SPRING HIGHLY FOR THE WEATHER SCARCE. SO YOU HAVE TO ASK YOURSELF HOW YOU GET INTO POSITION SO I CAN TELL THAT, IF IT OCCURS, AND THAT'S WHAT I COME BACK TO. LAST QUESTION I REALLY ASK, AND WE START SELLING NEXT YEAR'S CORN, OR IS IT TOO EARLY TO START THINKING NOW IN ORDER TO TAKE ADVANTAGE OF THIS. BECAUSE YOU TOLD ME OFF CAMERA, OR UPSTAIRS A WHILE AGO, TWO OR THREE YEARS DOWN THE ROAD, IT MIGHT BE LOOKING TO BREAK EVEN WHICH SOUNDS DIFFERENT THAN WHAT WE ARE NOW. WELL AND I LOOKING AT IT, THERE WILL BE LIMITED OPPORTUNITIES FOR ELEVATORS AND WE WILL PROBABLY HAVE TO GO FOR AN OPTION POSITION. HE WILL HAVE TO USE THAT MORE THAN YOU ARE A LATER POSITION. IT'S A GOOD THING TO GET STARTED, AND CORN DOES COME TRUE. IF YOU ARE ABLE TO ADD THAT TIME HAVE SIX OR $7 WALK IN, THAT'S NOT THE WORST THING ABOUT 60% OF YOUR CROP. THE NUMBERS WORK OUT THAT YOU ARE BENEFITING AHEAD. AND IF THERE'S AN ABILITY TO DO IT IN OPTIONS, YOU HAVE THE ABILITY TO RALLY AND LOCK YOUR CASH IN LEADER, IF THAT'S A FANTASTIC STRATEGY. ESSENTIALLY THE SAME TECHNIQUE BUT MAYBE A DIFFERENT VARIATION, BECAUSE IN AUGUST OR SEPTEMBER I WILL BE TRYING TO BUY CALLS SO I CAN SELL CASH FOR SHORT FEATURES. IT'S BEEN IN A FUTURES POSITION, IT'S BETTER OFF THAT THE CLIENT IS. SO IF THE MARKET DOES RALLY, IT'S AT $9 COIN AND YOU WANT TO MAKE THAT MULTIYEAR SELL, BUT IF YOU, BUT IF YOU ARE SHORT AT $7 IN THE FUTURE POSITION, YOU MOSTLY HAVE BAGGAGE WITH AN URGENT CALL AND IT'S VERY DIFFICULT TO BUY THAT AND SO THAT FUTURE UNLESS YOU HAVE SOME OUT AND AS FOR THE OPTION OF BUYING IS, HAVING A GREAT TECHNIQUE FOR FUTURE AGAINST A CASH SALE. AL, THIS BRINGS ME BACK TO THE LIVESTOCK QUESTION. AND, WHAT BOB SAYS, SOME OF WHAT WE ARE DOING ARE, AND THAT MAY BE AN EXCELLENT STRATEGY. AND, PROBABLY EVEN MORE SO THAN IF WE ARE GOING TO BE PRODUCERS. IF THE STOCK GETS BUILT UP, THE USAGE THIS MARKET HAS MORE UPSIDE FOR US FOR PROBABLY THE NEXT EIGHT MONTHS OR YEARS. I STILL THINK WE HAVE A GOOD OPPORTUNITY TO MAKE A NEW HIGH IN NEXT FEBRUARY OR MARCH, BUT I LIKE GUYS RIGHT NOW, BECAUSE THIS IS ONE OF THE GREATEST VOLATILITY RISK DURING WEATHER SCARCE. BUT A SCARCE ARE USUALLY MORE VIOLENT THAN TRYING TO BY ACRES, SO I WOULD RATE HIGHER THAN NEXT SPRING. WE WILL BE BACK WITH MORE US FARM REPORT IN JUST A MOMENT.

JOHN’S WORLD: WITH NEARLY ONE MONTH OVER, AMERICANS ARE DEEP INTO PRIME VACATION TIME. YOU CAN TELL BY TRAVELING TO AMERICA'S TOP VACATION SPOT - THE INTERSTATE HIGHWAY SYSTEM. BUT FEWER OF US ARE TAKING TIME OFF THESE DAYS. BETWEEN JOB PRESSURE AND FEARS OF NOT BEING MISSED, ONLY ONE AMERICAN IN SEVEN NOW TAKE A VACATION LONGER THAN ONE WEEK. IN FACT, AMERICANS TAKE FEWER VACATION DAYS THAN ALL OTHER DEVELOPED NATIONS. COMPARE YOUR VACATION TIME TO NORWEGIANS, WHO WORK ON AVERAGE 36 WEEKS A YEAR. I HAVE ALWAYS TAKEN A PERVERSE PRIDE IN THIS STATISTIC. I HAVE EVEN BEEN IMPRESSED BY REPORTS OF FOLKS NEVER TAKING A VACATION. THIS WAS A MISTAKEN BELIEF, I REALIZE NOW. HOLDING UP RELENTLESS TOIL AS A WORTHWHILE LIFE MODEL IS ANOTHER WAY OF SAYING MONEY IS BETTER THAN TIME. WE HAVE LOWERED THE QUALITY OF OUR LIVES BY REFUSING TO EVEN TRY TO BALANCE WORK AND LEISURE. THIS IS ALL A PREAMBLE TO LET YOU KNOW I AM GOING TO BE ON VACATION FOR THE NEXT TWO WEEKS. JAN IS CELEBRATING HER 40TH WEDDING ANNIVERSARY AND HAS ASKED ME TO COME ALONG. SO AFTER SAVING UP FOR A FEW YEARS, WE'RE TAKING A LONG-AWAITED CRUISE TO THE MEDITERRANEAN. I'M EXCITED ABOUT GOING, BUT STRANGELY MY COLLEAGUES HERE AT U.S. FARM REPORT ARE EVEN MORE PUMPED ABOUT MY TRIP. GO FIGURE. SO BARRING ANY RIOTS IN GREECE OR UNREST IN TURKEY, WE SHOULD HAVE A CHANCE TO DE-STRESS, AND PERHAPS RETURN MORE ENTHUSIASTIC AND PRODUCTIVE AFTERWARDS. I HOPE YOU TOO ARE PLANNING A VACATION AND YOUR RESULTS ARE EVEN BETTER.

2ND HALF:
JOHN’S OPEN:
HELLO AND WELCOME TO U.S. FARM REPORT, I'M JOHN PHIPPS. WE HAVE A STORY TODAY ABOUT THE RISING POPULARITY OF GARDENING. AS I HAVE MENTIONED BEFORE, I AM MARRIED TO A DEDICATED GARDENER, SO I CAN PREDICT THOSE JUST BEGINNING WILL DISCOVER MUCH MORE THAN JUST CHEAPER VEGETABLES. OVER THE YEARS, FOR EXAMPLE, JAN AND I HAVE LEARNED TO EXPECT AND EVEN ENJOY VARYING DEGREES OF QUALITY AND QUANTITY FROM HER GARDENS. THIS YEAR, FOR EXAMPLE GAVE US MEDIOCRE STRAWBERRIES, BUT GOOD LETTUCE. WE HAVE BECOME KIND OF PRODUCE CONNOISSEURS, REMINISCING ABOUT THE 2009 ASPARAGUS, AND THE 2007 POTATOES. INDEED THE FASTEST GROWING HORTICULTURAL PEST MAY BE THE GARDEN BORE. LET'S GET STARTED WITH THE HEADLINES AND AL PELL...

G20 MEETING: THANKS JOHN. THE WORLD'S LARGEST ECONOMIES AGREED THIS WEEK TO A SERIES OF MEASURES AIMED AT STABILIZING WORLD FOOD PRICES. THE GROUP OF 20 COUNTRIES - OR G20 - IS TRYING TO NEUTRALIZE GLOBAL FOOD INSTABILITY...ESPECIALLY IN POORER COUNTRIES. AG MINISTERS FROM THOSE COUNTRIES, INCLUDING USDA SECRETARY TOM VILSACK, AGREED TO ESTABLISH A SYSTEM TO TRACK GLOBAL SUPPLIES AND EMERGENCY FOOD RESERVES. THEY ALSO ARE LOOKING TO CREATE A "RAPID RESPONSE" SYSTEM FOR COUNTRIES DEALING WITH DROUGHT.

GARDENING BOOM: HERE IN THE STATES, A TOUGH ECONOMY IS PUSHING MORE PEOPLE TO GROW THEIR OWN FOOD. ACCORDING TO THE NATIONAL GARDENING ASSOCIATION, 43 MILLION AMERICAN'S GREW THEIR OWN FOOD IN 2009...UP ABOUT 20% FROM THE PREVIOUS YEAR. TOTAL SPENDING ON FOOD-GARDENING ALSO JUMPED ABOUT 20% IN 2009 AND HELD STEADY LAST YEAR. THE ASSOCIATION SAYS THE STRUGGLING ECONOMY AND HIGHER FOOD PRICES ARE PUSHING THE TREND.

LSU FARMERS MARKETS: FOR THOSE WHO DON'T HAVE A GREEN THUMB, YOU CAN ALWAYS RELY ON A FARMERS MARKET TO GET FRESH PRODUCE. IN THIS REPORT FROM THE LSU AGCENTER, TOBIE BLANCHARD SHOWS US HOW FOLKS ARE LINING-UP AT THEIR LOCAL STANDS.

ANTLER ANT: WELCOME BACK...WE ALL KNOW ART COMES IN MANY FORMS, INCLUDING THE TOP OF A DEER. IN THIS REPORT FROM KFOR-TV IN OKLAHOMA CITY, GALEN CULVER MEETS AN "ANTLER ARTIST". SALLY'S HOMEPAGE CAN PUT YOU IN CONTACT WITH THE ARTIST. WE'LL PUT A LINK ON WWW.FARMREPORT.COM FOR EASY ACCESS.

PORK EXPO: ORGANIZERS OF THE WORLD PORK EXPO ARE CELEBRATING ANOTHER SUCCESSFUL YEAR FOR THE ANNUAL EVENT. HELD EACH YEAR IN DES MOINES, THE EXPO ATTRACTED NEARLY 20,000 VISITORS FROM 33 COUNTRIES. WITH MORE THAN 450 COMMERCIAL EXHIBITS ON DISPLAY, PRODUCERS WERE ABLE TO CHECK OUT THE VERY LATEST IN TECHNOLOGY AND PORK PRODUCTION TECHNIQUES. ORGANIZED BY THE NATIONAL PORK PRODUCERS COUNCIL, THE EXPO IS THE WORLD'S LARGEST PORK-SPECIFIC TRADE SHOW.

PORK ISSUES: WHILE HOG PRICES AND THE OVERALL HEALTH OF THE INDUSTRY ARE MUCH IMPROVED FROM A YEAR AGO, A NUMBER OF CRITICAL ISSUES CONTINUE TO CREATE CHALLENGES FOR PRODUCERS. TOPPING THE LIST - THE AVAILABILITY OF FEED. REGIONAL REPORTER MICHELLE ROOK HAS OUR STORY. THANKS MICHELLE. WHEN WE COME BACK, AL RETURNS WITH TRACTOR TALES AND OUR COUNTRY CHURCH SALUTE...

TRACTOR TALES: (JOHN) AL, WHAT'S ON TAP FOR TRACTOR TALES THIS WEEK??? (AL) JOHN, WE MEET A HOOSIER COLLECTOR WHO LOVES HIS GREEN. JOE STEVENS TRAVELS TO FLORIDA EVERY YEAR TO SHOW OFF HIS 1939 JOHN DEERE "H". THIS TRACTOR WAS ORIGINALLY PURCHASED WITHOUT A STARTER, HYDRAULICS OR A PTO.

CHURCH SALUTE: TODAY'S COUNTRY CHURCH SALUTE TAKES US TO THE RURAL COMMUNITY OF LANKIN, NORTH DAKOTA. THE SAINTS PETER AND PAUL CATHOLIC CHURCH IS CELEBRATING 125TH ANNIVERSARY THIS WEEKEND. THE ORIGINAL STRUCTURE WAS BUILT IN 1886. THAT BUILDING WAS DESTROYED BY FIRE IN 1956 - BUT IT WAS REBUILT AND DEDICATED THE FOLLOWING YEAR. DURING ITS FIRST TWO DECADES OF ITS EXISTENCE, PRIESTS FROM NEIGHBORING COMMUNITIES SAID MASS AND ADMINISTERED THE SACRAMENTS. THE CHURCH TODAY HAS 43 MEMBERS AND IS LEAD BY FATHER SAM. OUR THANKS TO SHAWNA HODEK FOR THE INFORMATION...AND OUR CONGRATULATIONS TO THE SAINTS PETER AND PAUL CATHOLIC CHURCH OF LANKIN, NORTH DAKOTA. AS ALWAYS WE WANT TO LEARN ABOUT YOUR HOME CHURCH AS WELL... SALUTES CAN BE SENT TO THE ADDRESS ON THE SCREEN. STAY WITH US - THE MAILBAG IS NEXT.

MAILBAG: TIME NOW FOR OUR WEEKLY LOOK INSIDE THE FARM REPORT MAILBAG...LOREN HOLSTE HAS A COMMENT ABOUT COMMODITY PRICES IN THE MEDIA. “YOUR WEEKLY SUNDAY MORNING PROGRAM IS THE ONLY SOURCE OF INFORMATION ABOUT AMERICAN AGRICULTURE THAT I HAVE FOUND, LOCALLY, IN RADIO OR TV OR NEWSPAPERS. THIS IS A RECENT DEVELOPMENT: I REMEMBER IN THE 1940'S RADIO NEWS ALWAYS INCLUDED PRICES, ACTIVITY IN THE ST. PAUL STOCKYARDS, AND OTHER INFORMATION." LOREN, THANKS FOR WRITING. I CAN KINDA REMEMBER PRICES ON TV IN THE 50'S BUT I'LL TAKE YOUR WORD FOR IT. TOO OFTEN THESE DAYS I FORGET THAT WAS OVER SIX DECADES AGO. BUT DURING THAT TIME SEVERAL THINGS HAPPENED. FIRST, INSTEAD OF A PRICE FOR HOGS - PERIOD - WE HAVE DEVELOPED A PRICING SYSTEM THAT INCLUDES NOT ONLY TODAY'S CASH PRICE, BUT FUTURES PRICES AND OPTIONS ON THOSE FUTURES. THERE ISN'T ENOUGH TIME TO BEGIN TO CONVEY THAT MUCH INFORMATION AND THE PHONE WOULD PROBABLY RING DURING THE ONE PRICE YOU WANTED TO HEAR. BUT FROM THE MEDIA POINT OF VIEW, FARM PRICES ARE OF INTEREST TO A VERY SMALL NUMBER OF VIEWERS THESE DAYS. ALTHOUGH THE NUMBER USUALLY QUOTED IS 2% OF THE POPULATION, THAT IS AN ESTIMATE OF HOW MANY LIVE ON FARMS, NOT THE NUMBER OF FARMERS, WHICH IS AROUND 750,000. SO IT WOULD MAKE MORE SENSE FOR TV PROGRAMS TO HAVE GASOLINE PRICES THAN CORN PRICES. FINALLY, MOST COMMERCIAL OPERATORS ARE GETTING THAT INFORMATION ON THEIR PHONE OR COMPUTER WHENEVER THEY WANT, SO THE DEMAND FOR BROADCAST PRICE INFORMATION IS TOO SMALL TO JUSTIFY THE EFFORT. AS ALWAYS, WE WANT TO HEAR FROM YOU, SEND COMMENTS TO MAILBAG@USFARMREPORT.COM OR LEAVE US A VOICE MAIL AT 800-792-4329.

 

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