USFR Weekly Recap - September 6-7, 2014, 2014, 2014

September 6, 2014 03:30 AM
 

 

TODAY ON USFR
SEPTEMBER 6-7, 2014
 
HEADLINES:
TODAY ON U-S FARM REPORT...A NEW VACCINE FOR PEDV OFFERS HOPE IN BATTLE AGAINST THE DEVASTATING DISEASE MORE CROP PREDICTIONS COME IN FROM PRIVATE CROP WATCHERS AND OUR MARKET EXPERTS DRIFT INTO PRECIOUS METALS TERRITORY AS THEY LOOK FOR SILVER LININGS. U.S. FARM REPORT - BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO… 2014 NORTH AMERICAN TRUCK OF THE YEAR…
JOHN OPEN:
HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS THE LAST FEW WEEKS HAVE BEEN AGONIZING FOR MANY GRAIN PRODUCERS, BUT THIS WEEK MAY HAVE PUSHED MANY MORE OF US PAST A TIPPING POINT. MY BANKER SAID I WAS NOT THE ONLY ONE TO JUST HAPPEN TO DROP BY TO DISCUSS BUDGET TRIAGE. HERE IS THE PROBLEM FROM HER SIDE OF THE DESK. THERE ARE AMPLE FUNDS TO LEND, AND INTEREST RATES SEEM TO BE STUCK WHERE BANKS HAVE TROUBLE MAKING MONEY, BUT SUDDENLY HER TOP LOAN CUSTOMERS LOOK A WHOLE LOT RISKIER. MEANWHILE BANK REGULATORS ARE INCREASING OVERSIGHT ON ALL LENDING. AS TRYING AS THE NEXT FEW MONTHS WILL BE FOR FARMERS, IT'S NOT EXACTLY GOING TO BE CAKEWALK FOR OUR LENDERS EITHER.TIME NOW FOR THE HEADLINES.....HERE'S TRICIS SLOMA IN FOR TYNE MORGAN.
PEDV VACCINE:
THANK YOU JOHN. AS WE HEAD TOWARDS FALL AND THE RISK FOR A DEADLY PIG VIRUS RISES, PRODUCERS HAVE A NEW TOOL TO HELP BATTLE PORCINE EPIDEMIC DIARRHEA VIRUS.
UTAH PEDV:
JUST AS WE GET WORD OF A NEW VACCINE, A NEW CASE OF PEDV POPPED UP IN UTAH. CIRCLE FOUR FARMS IN BEAVER COUNTY UTAH IS THE STATE'S LARGEST AND ONE OF THE LARGEST IN THE COUNTRY. THE UTAH DEPARTMENT OF AG SAYS THIS IS THE FIRST KNOWN CASE IN THE STATE. CIRCLE FOUR RAISES AND MARKETS MORE THAN 1 MILLION HOGS A YEAR.
ALLENDALE YIELD SURVEY:
ALLENDALE INCORPORATED BACKS-UP WHAT USDA AND PROFARMER ARE ALREADY PROJECTING - A BIG CORN CROP. BUT THE RESEARCH FIRM THINKS IT'S EVEN BIGGER. THE COMPANY RELEASED THE RESULTS OF ITS ANNUAL PRODUCER YIELD SURVEY.
CROP WATCH:
THE CROP PROGRESS REPORT SHOWS EIGHT PERCENT OF THE CORN CROP IS NOW MATURE. THAT'S HALF OF THE NORMAL PACE. STATE BY STATE - OF THE TOP FIVE CORN STATES, FOUR ARE BEHIND IN MATURING. SOME ARE TRAILING BY DOUBLE DIGITS. STILL, THE CONDITION RATING OF THE CORN CROP INCREASED ANOTHER ONE POINT IN THE EXCELLENT CATEGORY. SOYBEANS - FIVE PERCENT HAVE STARTED TO DROP LEAVES. THAT'S JUST TWO POINTS BEHIND AVERAGE.
THE CONDITION RATING ALSO IMPROVED BY TWO POINTS OVER LAST WEEK… 72-PERCENT IS GOOD-TO-EXCELLENT.
CROP WATCH:
CROPWATCH BEGINS IN MADISON COUNTY, GEORGIA. A CROP REPORTER THERE SAYS ARMY WORMS CONTINUE TO HAMMER PASTURES AND HAYFIELDS. THIRD HAY CUTTING LOOKS DOUBTFUL FOR MOST PRODUCERS. IN MERCER COUNTY, PENNSYLVANIA, THE REGION RECEIVED ABOUT AN INCH OF RAIN LAST WEEKEND. BEFORE THAT, HAY BALERS WERE RUNNING HARD AS THEY HAD FIVE EXCELLENT DAYS OF BALING WEATHER. TAKING A LOOK AT THE DROUGHT MONITOR, AS YOU CAN SEE WE CONTINUE TO WATCH THE DROUGHT CONDITIONS IN THE WEST OBVIOUSLY, CALIFORNIA AND WESTERN NEVADA JUST AWFUL CONDITIONS, MOST OF THOSE STATES EXTREME TO EXCEPTIONAL DROUGHTS, JUST POCKETS OF THAT ACROSS THE SOUTHERN PLAINS, AND A FEW DRY SPOTS DEVELOPING IN THE SOUTHEAST. WE'LL HAVE DETAILS ON YOUR FORECAST COMING UP IN WEATHER.
TEASE ONE:
STILL TO COME, BILL BIEDERMANN OF ALLENDALE INCORPORATED AND BRIAN BASTING OF ADVANCE TRADING ARE HERE TO ANALYZE THIS WEEK'S MARKET ACTION. THE DISCUSSION BEGINS IN TWO MINUTES.
JOHN’S WORLD:
DESPITE THE FACT CONGRESS HAS DIFFICULTY PASSING EVEN SEEMINGLY STRAIGHTFORWARD LEGISLATION LIKE HIGHWAY FUNDING, THE IDEA OF TAX REFORM KEEPS POPPING UP AS SOMETHING THAT COULD BE ACTUALLY TACKLED. THE RECENT WAVE OF CORPORATE INVERSIONS, WHERE COMPANIES LIKE BURGER KING MOVE THEIR HEADQUARTERS OVERSEAS TO REDUCE THE CORPORATE TAX BURDEN HAS ADDED NEW LIFE TO THIS EFFORT. CONSERVATIVE ECONOMIST GREG MANKIW RECENTLY SUGGESTED ELIMINATING THE CORPORATE TAX ALTOGETHER, BUT THAT WOULD BE A SIGNIFICANT BUDGET HIT - ABOUT 330 BILLION DOLLARS IN 2014. THOSE WHO THINK DOUBLE-TAXING PROFITS AT THE CORPORATE, AND THE INDIVIDUAL LEVEL IS UNFAIR ALSO URGE REFORM.
MANKIW WANTS TO REPLACE THE TAX REVENUE WITH A VALUE ADDED TAX - ESSENTIALLY A FEDERAL SALES TAX. THAT'S CERTAINLY ONE OPTION. BUT I THINK A BETTER IDEA IS REPLACE THE CORPORATE TAX BY EQUALIZING THE CAPITAL GAINS TAX. IN OTHER WORDS, TAX ALL INCOME FROM WAGES AND INVESTMENT THE SAME. THIS WOULD ONLY REPLACE ABOUT A THIRD OF THE REVENUE, BUT IT WOULD END MUCH OF THE BLATANT TAX EVASION BY DISGUISING COMPENSATION AS STOCK OPTIONS OR CARRIED INTEREST. AND IF WE COULD ELIMINATE THIS TAX EXPENDITURE, IT WOULD PROVE THAT WE COULD TACKLE BIGGER TARGETS, SUCH AS CAPPING THE MORTGAGE INTEREST DEDUCTION AND EMPLOYER-PROVIDED HEALTH INSURANCE.ANY ATTEMPT TO REFORM OUR TAX SYSTEM GENERATES IMMENSE PUSHBACK, BUT UNLESS WE BELIEVE OUR CURRENT SYSTEM IS THE BEST WE CAN POSSIBLY DO, IT IS OUR RESPONSIBILITY TO TRY.
CONTACT:
LET US KNOW WHAT YOU THINK.... SEND EMAILS TO MAILBAG-AT-U-S-FARM-REPORT-DOT-COM OR CHECK US OUT ON FACEBOOK AND TWITTER.
TAG & CLOSE:
COMING UP IN OUR NEXT HALF HOUR - CAN WE DRY THE HUGE CORN CROP IN TIME?
STAY WITH US - THE SECOND HALF OF U-S FARM REPORT IS COMING RIGHT UP.
HEADLINES:
TODAY ON U-S FARM REPORT...AS BIG CROPS GET MORE CERTAIN, FARMERS ARE WONDERING IF THEIR ELEVATORS ARE UP TO THE CHALLENGE RANCHERS IN TEXAS FINALLY GET ENOUGH RAIN FOR A HAY CROP AND WE VISIT A VIRGINIA SCHOOL FOR NEW FARMERS AND GARDENERS. U.S. FARM REPORT - BROUGHT TO YOU BY THE ALL-NEW CHEVY SILVERADO... 2014 NORTH AMERICAN TRUCK OF THE YEAR…
JOHN OPEN:
 HELLO AND WELCOME TO U-S FARM REPORT, I'M JOHN PHIPPS. SO IT'S LABOR DAY WEEKEND, AND LIKE GOOD AMERICANS ALL ACROSS THIS LAND I STEP UP TO THE OUTDOOR GRILL TO CHAR SOME PROTEIN ONLY TO DISCOVER THE CHARCOAL BIN EMPTY. NO WORRIES - JUST FETCH SOME FROM OUR NEARBY STORE 24 MILES AWAY. AS I WAS CHECKING OUT, I NOTICED THE WEIGHT ON THE BAG: 16.6 POUNDS. WAIT - DIDN'T CHARCOAL USED TO BE IN 20 POUND BAGS ALMOST EXACTLY THE SAME SIZE? WELCOME TO SHRINKFLATION, WHERE VENDORS KEEP THE PRICE STEADY BUT CUT THE AMOUNT OF PRODUCT. THIS STEALTH PRICE INCREASE MAY BE MORE INFURIATING DUE TO ITS CLEARLY DECEPTIVE NATURE. BUT - NOT TO WORRY... U-S FARM REPORT IS STILL THE SAME LENGTH AND SAME PRICE.TRICIA SLOMA HAS OUR HEADLINES...
PROJECT LIBERTY:
THANKS JOHN. THE NATION'S FIRST COMMERCIAL-SCALE CELLULOSIC ETHANOL PLANT IS NOW "OFFICIALLY" OPEN IN NORTHWEST IOWA.THIS IS SIGNIFICANT BECAUSE OPERATORS USE CORN CROP RESIDUE - KNOWN AS STOVER - INSTEAD OF GRAIN TO MAKE THE FUEL.
TEXAS HAY:
FOUR YEARS OF DROUGHT IN TEXAS DECIMATED CROPS AND THE BEEF HERD. BUT THIS YEAR, TIMELY RAINS HAVE HELPED FARMERS ACTUALLY GROW HAY.
MONTANA FLOOD:
MEANWHILE IN NORTHEAST MONTANA, THOUSANDS OF ROUND BALES OF HAY WERE INUNDATED BY FLOOD WATER LAST WEEKEND. AS MANY AS NINE THOUSAND BALES WERE SWAMPED IN PETROLEUM AND VALLEY COUNTIES AFTER RECORD RAINFALL. RAIN TOTALS FOR THAT ONE STORM RANGED FROM SIX TO 8 INCHES. AND CONSIDER THIS - THE "NORMAL" RAINFALL IN AUGUST FOR THAT PART OF MONTANA IS USUALLY ABOUT AN INCH. SPRING WHEAT, BARLEY AND RYE CROPS WERE ALSO HIT HARD.
PITCH TO WEATHER:
THAT'S IT FOR NEWS...METEOROLOGIST MIKE HOFFMAN JOINS US NOW WITH THE NATIONAL FORECAST.
WEATHER WITH GENERIC OPEN:
WELL IT'S THAT TIME OF YEAR THAT WE START TO SEE COOL AIR MASSES MOVING OUT OF CANADA, AND WE'RE ALREADY SEEING ONE OVER THE GREAT LAKES AND THE NORTHEAST. NOT REAL CHILLY BUT NONE THE LESS A LOT COOLER THAN WE HAVE BEEN SEEING, THAT TROUGH MOVES AWAY AND WE HAVE A JUST LITTLE RIPPLES FOR A COUPLE OF DAYS MOVING FROM WEST TO EAST, A DECENT TROUGH COMING INTO THE PLAINS STATES, ON WEDNESDAY, GREAT LAKES ON THURSDAY, NORTHEAST ON INTO FRIDAY, AND THAT LOOKS LIKE A STRONGER TROUGH DIGGING INTO THE NORTHERN MAYBE EVEN CENTRAL PLAINS AS WE HEAD INTO NEXT WEEKEND, AND THERE ARE EVEN INDICATIONS THAT WE'LL HAVE TO AT LEAST WATCH FOR A POSSIBILITY, IF WE GET A CLEAR CALM NIGHT IN THE NORTHERN PLAINS FOR A FROST, I HATE TO TELL YOU THAT BUT IT'S SOMETHING WE'RE GOING TO HAVE TO WATCH THIS SEASON OBVIOUSLY JUST BECAUSE OF THE LATE CROP WE'VE BEEN TALKING ABOUT ALL LONG, JUST BECAUSE OF THE LATE CROP THIS YEAR IN MANY AREAS. LET'S GO DAY BY DAY, OBVIOUSLY NO REAL COLD AIR THIS WEEK, BUT THAT IS COOL AIR, WITH THAT HIGH PRESSURE OF THE GREAT LAKES AND NORTHEAST AS WE START THE WEEK, STATIONARY FRONT THROUGH THE SOUTHEAST WHERE THAT FRONT KIND OF STALLED OUT, SHOWERS AND THUNDERSTORMS DOWN THAT WAY. AND IT LOOKS LIKE A DECENT LITTLE STORM SYSTEM OVER THE CENTRAL PLAINS, PERHAPS PRODUCING SOME HEAVY RAINS IN SOME AREAS, AND SOME DECENT TROPICAL MOISTURE MIGHT BE COMING INTO THE DESERT SOUTHWEST, FROM THE REMINISCE FROM THE HURRICANE OVER THE PACIFIC. BUT SOME COMPUTER MODELS TAKE IT WEST, SOME BRING IT EAST, BUT IT'S SOMETHING YOU'LL HAVE TO WATCH. IF TROPICAL MOISTURE GETS INVOLVED YOU COULD HAVE HEAVY RAIN AS WE START THE WEEK. LET'S TAKE A LOOK AT WEDNESDAY THEN A COUPLE AREAS OF LOW PRESSURE, KIND OF A COMPLICATED WEATHER MAP, THEN WE HAVE ONE OFF THE EAST COAST AS WELL, EACH ONE OF THOSE COULD BE PRODUCING SOME PRETTY HEAVY RAINS IN SOME PLACES, OTHERWISE IT'S SCATTERED AREAS OF SHOWERS AND THUNDERSTORMS, AND A GOOD CHUNK OF GREAT LAKES, CORN BELT, ALL THE WAY BACK INTO THE FOUR CORNER REGION, DRY CONDITIONS UNFORTUNATELY CONTINUING ALONG THE WEST COAST, ESPECIALLY CALIFORNIA. ON FRIDAY THEN, SHOWERS AND THUNDERSTORMS, THOSE TWO AREAS OF LOW PRESSURE KIND OF COME TOGETHER INTO A PRETTY STRONG STORM SYSTEM OVER THE NORTHWESTERN GREAT LAKES, AND YOU'LL HAVE TO WATCH THAT THIS MIGHT NOT END UP EXACTLY IN THAT AREA, BUT THAT'S WHAT WERE KIND OF LOOKING AT IN GENERAL WITH THUNDERSTORMS BEING ON THE HEAVY SIDE ALL THE WAY BACK ALONG THE FRONT INTO TEXAS FOR A CHANGE, SCATTERED THROUGHOUT THE SOUTHWEST AND THE SOUTHEAST AS WELL. LET'S TAKE A LOOK AT THINGS NEXT WEEK THEN, THIS IS SEPTEMBER 14 THROUGH THE 20, BELOW NORMAL TEMPERATURES FOR THE NORTHEAST, GREAT LAKES, BACK TO MONTANA, SOUTHWARD INTO NEW MEXICO, AND NORTHERN AND WESTERN TEXAS, SO MOST OF THE CORN BELT EXPECTED TO BE BELOW NORMAL, NEAR NORMAL IN THE SOUTHEAST, ABOVE NORMAL IN THE OUT WEST, PRECIPITATION NEXT WEEK THEN ABOVE NORMAL IN THE WESTERN LAKES, TO MINNESOTA, BACK DOWN INTO NEW MEXICO AND TEXAS FOR A CHANGE, AS WELL AS FLORIDA BELOW NORMAL NORTHERN ROCKIES INTO THE WEST COAST AREA AND MID-ATLANTIC STATES, THIRTY DAY OUTLOOK FOR TEMPERATURES, BELOW NORMAL THROUGH THE PLAIN STATES, BACK INTO NEW MEXICO EASTERN ARIZONA, ABOVE NORMAL IN THE SOUTHEAST, ALL THE WAY UP TO THE OHIO RIVER VALLEY AND THE NORTHWEST, AND PRECIPITATION OVER THE NEXT THIRTY DAYS JOHN YOU CAN SEE A WIDESPREAD AREA OF ABOVE NORMAL IN FACT COVERING MOST OF THE CORN BELT THERE. WE'VE GOT ALL THE PIECES IN PLACE FOR A LONG SLOW HARVEST, BIG CROP WET, COOL, ABOVE NORMAL RAIN, WE'LL SEE HOW IT TURNS OUT. SPIRIT OF THE HEARTLAND IS NEXT.
USFR REOPEN:
"YOU'RE WATCHING US FARM REPORT, WITH HOST JOHN PHIPPS, FARM DIRECTOR AL PELL, NATIONAL REPORTER TYNE MORGAN AND METEOROLOGIST MIKE HOFFMAN. US FARM REPORT, THE SPIRIT OF THE COUNTRYSIDE."SPIRIT OF THE HEARTLAND IS BROUGHT TO YOU BY THE ALL NEW YAMAHA VIKING SIDE BY SIDE. YAMAHA REAL WORLD TOUGH…
HEARTLAND EDUCATION FARM
EDIT NOTES KEEP THESE SECTIONS 00-18 "THE FACQUIER EDUCATION........LOCAL FOOD BANKS"
26 - 42 "THERE'VE BEEN.....TO VOLUNTEER" 53-117 "WE WORKSHOP....HAVING TO FACE"
1:44 - 2:45 "THE FACQUIER.....EDUCATIONAL FARM." 3:04 - 3:27 "I SAY ALL THE TIME......LEARN"
3:39 -3:42 "FROM FACQUIER COUNTY....DAVE MILLER REPORTING". THE FAUQUIER EDUCATIONAL FARM IS 10 ACRES OF VEGETABLE GARDENS AND ROW CROPS, PLANTED AND DESIGNED TO TEACH OTHERS HOW TO GROW AND CARE FOR THEIR OWN FOOD. JIM HANKINS IS THE COORDINATOR FOR THIS NON-PROFIT ORGANIZATION THAT PROVIDES MORE THAN 15,000 POUNDS OF FRESH PRODUCE TO THE LOCAL FOOD BANKS. THERE HAS BEEN A TREMENDOUS NUMBER OF PEOPLE HAVE MOVED OUT TO THE COUNTRY THAT WOULD LOVE TO DO SOMETHING AGRICULTURAL AND THEY DON'T HAVE THE BACKGROUND. SO WE HAVE A PUBLIC, ON THE GROUND LAB, FOR FOLKS TO COME OUT AND VOLUNTEER. THE WORKSHOPS ARE FREE AND OPEN TO THE PUBLIC. THE EDUCATIONAL FARM IS WHERE FOLKS CAN SEE GOOD GARDENING PRACTICES AND GOOD FARMING. THAT'S RARE IN A DEVELOPING AREA LIKE NORTHERN VIRGINIA. IT'S A PLACE CAN GO AND SHOW THIS IS HOW YOU LAY PLASTIC MULCH. THIS IS HOW YOU BUILD A DEER FENCE. THIS IS HOW YOU MANAGE DIFFERENT INSECTS AND DISEASE PESTS THAT YOU'RE HAVING TO FACE. THE FAUQUIER COUNTY FARM BUREAU, FAUQUIER COUNTY LOCAL GOVERNMENT, AND VIRGINIA COOPERATIVE EXTENSION JOINED FORCES FOUR YEARS AGO TO CREATE THE EDUCATIONAL FARM ON AN OLD DAIRY FARM THAT HAD BEEN DONATED TO THE COUNTY. IT'S ALSO BEEN USED AS A DEMONSTRATION SPACE FOR PART OF VIRGINIA'S BEGINNING FARMER PROGRAM. A WIDE VARIETY OF CROPS AND PRODUCE ARE RAISED EACH SEASON. WE'LL BE HARVESTING SWEET POTATOES IN OCTOBER AND A LOT OF THE WINTER SQUASH. WE'RE PLANTING POTATOES. IRISH POTATOES WE PLANTED 2200 LBS THIS SPRING. ALL WITH VOLUNTEER HELP… EVERY BIT OF IT WAS CUT UP AND PLANTED WITH VOLUNTEER HELP. THE FAUQUIER EDUCATIONAL FARM HAS ONE PART TIME PAID EMPLOYEE AND THAT'S ME AND EVERYTHING ELSE IS VOLUNTEER. YOU CAN SEE BY THESE BUSHELS OF FRESHLY PICKED ZUCCHINI, CUCUMBERS, CABBAGE, AND SQUASH THAT FOOD BANK CUSTOMERS ARE GETTING GOOD PRODUCTS, AND THAT THE GARDENING PRACTICES ARE PAYING OFF FOR THE EDUCATIONAL FARM. I SAY ALL THE TIME, THE VERY BEST WAY TO LEARN IS TO GET YOUR HANDS DIRTY. I PROMOTE FRIDAYS ON THE FARM. EVERY FRIDAY 8 O'CLOCK IN THE MORNING ANYBODY WHO SHOWS UP I'M GONNA PUT 'EM TO WORK. I WANT PEOPLE NOT JUST TO FEEL THAT THEY ARE BEING TAKEN ADVANTAGE OF FOR THEIR LABOR, BUT I WANT THEM TO BE ABLE TO LEARN. FROM FAUQUIER COUNTY, VA... THIS IS DAVE MILLER REPORTING.
VA EDUCATION FARM:
DAVE SAYS THEY ALSO CONDUCTED FIELD VARIETY TRIALS ON TOMATO PLANTS THIS SUMMER TO SEE WHICH GROW THE BEST IN THE VIRGINIA SOIL.
TEASE:
A RECORD CROP OF CORN AND SOYBEANS WILL BE HEADED TO GRAIN ELEVATORS IN THE COMING WEEKS? ARE THEY READY? WE'LL TAKE A CLOSER LOOK AT SOME OF THE CHALLENGES, NEXT ON U-S FARM REPORT.
MOBIL DELVAC BILLBOARD:
TRACTOR TALES BROUGHT TO YOU BY MOBIL DELVAC. SWITCH TO MOBIL DELVAC. LONG LIVE YOUR ENGINE AND YOUR BUSINESS. AVAILABLE AT SAM'S CLUB.
 
 

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