TODAY ON AGDAY
DECEMBER 14, 2017
HEADLINES
INTEREST RATES ARE ON THE RISE, BUT IS IT ENOUGH TO SEND RIPPLES THROUGH FARM COUNTRY? “INTEREST RATES CAN DOUBLE TODAY AND STILL BE HISTORICALLY REASONABLE.” PERSPECTIVE THROUGH THE EYES OF AG LENDERS. TRACTOR SALES ARE GAINING TRACTION AS WE CLOSE OUT 2018.. “FOLKS ASK WHAT’S DRIVING THAT CHANGE.” WE HAVE THE NUMBERS AND ANALYSIS. IN AGRIBSUINESS, LAND VALUES ALSO SEEING SOME STRENGTH, BUT IS THAT ABOUT TO CHANGE? “INTEREST RATES AND LAND VALUES ARE INVERSELY RELATED.” AND THE TENNESSEE EXTENSION PLAYS THE ROLE OF CHRISTMAS ELVES THIS TIME OF YEAR. AGDAY - PRESENTED BY CHEVY SILVERADO. HIGH-STRENGTH STEEL FOR HIGH-STRENGTH DEPENDABILITY.
INTEREST RATE HIKE
GOOD MORNING I’M TYNE MORGAN. CLINTON GRIFFITHS IS ON ASSIGNMENT. THE FEDERAL RESERVE WRAPPING UP THEIR FINAL MEETING OF THE YEAR, AND THE STRENGTH OF THE U-S ECONOMIY PROVIDED ENOUGH FUEL FOR THE FED TO RAISE THE BENCHMARK INTEREST RATE FOR A THIRD TIME THIS YEAR. THE FEDERAL RESERVE BUMPING THE RATE UP TO 1 POINT 5 PERCENT, UP FROM THE CURRENT 1 POINT 25 PERCENT. THE MOVE LARGELY EXPECTED, THE ONLY CAUTION POINT WAS WITH A SLUGGISH INFLATION THAT CONTINUES TO PERSIST. THIS WAS LIKELY THE LAST MEETING CHAIRWOMAN JANET YELLEN WILL LEAD. BUT WITH SIGNALS THAT INFLATION WILL CONTINUE TO GAIN STRENTH IN THE COMING MONTHS, THE FED ALSO SIGNALING THAT MORE INTEREST RATE HIKES ARE AHEAD. “WITH WHERE WE ARE TODAY UNLIKE WHAT WE SAW IN THE EARLY 1980S INTEREST RATES CAN DOUBLE TODAY AND STILL BE HISTORICALLY REASONABLE. THAT’S KIND OF AN INTERESTING PERSPECTIVE OF WHERE WE ARE IN TIME TODAY.” 'SO YOU KNOW THE FED IS AT LEAST SIGNALING THAT THEY MIGHT GO UP MAYBE UP TO A FULL PERCENTAGE POINT BETWEEN NOW AND THE END OF 2013. DEFINITELY OUR PRODUCERS CAN HANDLE SOMETHING LIKE THAT AND THERE’S JUST NO INDICATION OUT THERE THAT WE’RE GOING TO SEE THIS HUGE RISE IN INTEREST RATES. WE DO A SENSITIVITY ANALYSIS FOR CUSTOMERS TO SHOW THAT. SO WE USUALLY USE A 3 PERCENT INCREASE. WHAT IMPACT IS THERE SO IF RATES GO UP 3 PERCENT. DO THEY STILL HAVE A POSITIVE COVERAGE RATIO.’
TAX REFORM
PRESIDENT DONALD TRUMP’S FISCAL POLICY ALSO FUELING ECONOMIC GROWTH THIS YEAR. AND NOW A SWEEPING TAX OVERHAUL IS NOW ANOTHER STEP CLOSER TO REALIZATION. THAT’S AFTER REPUBLICANS WERE ABLE TO STRIKE A DEAL ON WEDNESDAY IN WASHINGTON. LEGISTLATORS WERE ABLE TO WORK THROUGH A MAJOR STICKING POINT WITH STATE AND LOCAL TAX DEDUCTIONS. LEADERS SAY THEY HOPE TO HAVE THE TAX PLAN ON THE PRESIDENT’S DESK BY NEXT WEEK.
TRACTOR SALES
THERE ARE ALSO POSSIBLE CHANGES TO BONUS DEPRECIATION. BUT A NEW REPORT SHOWS TRACTOR SALES LOOK TO BE ON THE REBOUND. IN THE ASSOCIATION OF EQUIPMENT MANUFACTUER’S LATEST FLASH REPORT, AEM SHOWS SALES OF ALL TRACTORS IN NOVEMBER WERE UP 9 PERCENT OF THE SAME TIME LAST YEAR. AND SO FAR THIS YEAR, SALES ARE UP 5 PERCENT. TWO WHEEL DRIVE SMALLER TRACTORS UNDER 40 HORSEPOWER AND 40 AND UNDER HORSPOWER SAW DOUBLE DIGIT GAINS. BUT THE MOST IMPRESSIVE ON THE MONTH IS THE COMBINE SALES NUMBER-- UP 41 PERCENT FOR THE MONTH OF NOVEMBER. ‘FOLKS ASK WHAT’S DRIVING THAT CHANGE. AND YOU KNWO THE BEST ANSWER IS HOW LONG DOES A TRACTOR LAST? YOU KNOW, ONE MORE YEAR, AND AT SOME POITN YOU GET TO WHERE YOU HAVE TO REPLACE THEM. AND I THINK THAT’S WHERE FINALLY WHAT WE’RE STARTING TO SEE WITH THE IMPROVEMENT IN THE MARKET THE LAST COUPLE MONTHS. IS THAT FARMER ARE STARTING TO REALIZE IT JSUT MAKES MORE SNESE FOR US TO MAKE THOSE INVESTMENTS. THAT COMBINED WITH MAYBE THE AMEROTIZATION WAS WORKING CORRECTLY, OR THE FIANCING WAS RIGHT OR THE TERMS WERE RIGHT OR MAYBE THE VALUE PROPOSITION WAS THERE. BUT WE ARE SEEING SOME REAL IMPROVMENT IN THE MARKET AND ALL OF OUR MANUFACTUERS AT AEM ARE CATIOUSLY OPTIMISITIC ABOUT 2018.’
ARKANSAS, MINNESOTA DICAMBA
THE ARKANSAS LEGISLATIVE COUNCIL IS PUSHING BACK AGAINST THE STATE PLANT BOARD ON ITS PROPOSED RULES FOR DICAMBA USE. THE POWERFUL A-L-C IS ORDERING THE PLANT BOARD TO REVISE THE RULES ON THE HERBICIDE-USE. THE LEGISLATIVE COMMITTEE SAYS THE PLANT BOARD MUST INCLUDE SCIENCE- BASED EVIDENCE. IT SHOULD ALSO CREATE A DIVIDING LINE THAT DISTINGUISHES BETWEEN NORTH AND SOUTH ZONES. AND THE COMMITTEE IS LOOKING FOR SPECIFIC LANGUAGE ABOUT AMBIENT TEMPERATURES AND HUMIDITY AS IT APPLIES TO TEMPERATURE INVERSIONS. ONCE COMPLETED, THE PLANT BOARD CAN RE-SUBMIT ITS PROPOSED RULE. THE ARKANSAS LEGISLATIVE COMMITTEE IS MADE OF STATE REPRESENTATIVES AND SENATORS WHO OVERSEE LEGISLATIVE MATTERS WHILE THE FULL LEGISLATURE IS NOT IN SESSION. MEANWHILE THE MINNESOTA DEPARTMENT OF AGRICULTURE ANNOUNCED NEW RESTRICTIONS ON THE USE OF DICAMBA HERBICIDE FOR THE 2018 GROWING SEASON. THE RULE AFFECTS THE THREE FORMULATIONS MADE BY MONSANTO, BASF AND DUPONT. THEY CANNOT BE APPLIED AFTER JUNE 20TH. THE M-D-A SAYS MOST OF THE STATE’S SOYBEANS ARE STILL IN VEGETATIVE GROWTH STAGE UNTIL THE 20TH/ ALSO THE HERBICIDE CANNOT BE APPLIED IN AIR TEMPERATURES ARE ABOVE 85 DEGREES. SINCE ALL THREE FORMULATIONS ARE “RESTRICTED USE”, THEY CAN ONLY BE APPLIED BY CERTIFIED APPLICATORS.
CROP COMMENTS
MIKE HOFFMAN JOINS US NOW WITH A LOOK AT CROP COMMENTS. MIKE. GOOD MORNING, TYNE. HERE’S SOMETHING WE DON’T SHOW EVERY DAY - POTATOES IN STORAGE FROM HEARTLAND FARMS IN HANCOCK, WISCONSIN. THIS BIN HOLDS ABOUT ONE HUNDRED THOUSAND HUNDRED WEIGHT OF POTATOES WHEN IT’S COMPLETELY FULL. ALL OF THE POTATOES IN THIS BIN IS ABOUT 20 FEET SHORT OF A FOOTBALL FIELD IN LENGTH!! OUR NEXT PHOTO COMES FROM JOHN SKINNER IN WARREN COUNTY, NORTH CAROLINA. JOHN SAYS THE MODULE TRUCKS ARE RUNNING AND FINISHING UP ANOTHER COTTON SEASON! MOST COTTON HAS BEEN HARVESTED. AND NOW HERE ARE SOME HOMETOWN TEMPS. FARM JOURNAL ON AIR IS THE GO-TO APP FOR AMERICAN AGRICULTURE. AGDAY, AGRITALK, U.S. FARM REPORT AND MORE - 24/7 ACCESS TO ALL OF YOUR FAVORITE SHOWS. TV AND RADIO...IN YOUR HANDS, ON DEMAND. FARM JOURNAL ON AIR - DOWNLOAD THE APP TODAY.
TEASE
STILL TO COME, IF INTEREST RATES ARE ON THE RISE, WHAT COULD IT MEAN FOR LAND VALUES IN THE MONTHS AHEAD? THAT’S ANALYSIS. PLUS, A URGENT CALL IN WASHINGTON TO GIVE AGRO-BIO-DEFENSE MORE SUPPORT. DETAILS IN DROVERS T-V. “I’M CHARLES DENNEY. THIS CHRISTMAS SEASON VOLUNTEERS MAKE AND SELL CRAFTS TO BENEFIT THEIR COMMUNITY. THAT STORY FROM LEBANON, TENNESSEE COMING UP ON AGDAY.” AGDAY - BROUGHT TO YOU BY NEW DELARO FUNGICIDE FOR CORN AND SOYBEANS. ACHIEVE PERSONAL BEST YIELDS. RECEIVE A FREE TRIAL OF THE DAILY GRAIN PLAN NEWS LETTER FROM ROACH AG MARKETING. TEXT ROACH TO 31313. START YOUR SUBSCRIPTION BY TEXTING ROACH TO 31313.
FLOOR OF THE CME
IN AGRIBUSINESS, THE GRAINS SEEING POSITIVE TRADE ACTION ON WEDNESDAY, WHILE LIVESTOCK WAS UNDER PRESSURE. LET’S HEAD NOW TO THE FLOOR OF THE CME. CORN MARKET WAS MOSTLY HIGHER HERE ON WEDNESDAY IN KIND OF A QUIET TRADE MOVING FORWARD HERE. DEMAND IS GOING TO BE A BIG STORY YOU KNOW. I THINK MOST OF THE TRADE IS PRETTY COMFORTABLE WITH THE U.S. PRODUCTION NUMBER FROM THE PAST GROWING SEASON. AND WHAT WE’RE GOING TO FOCUS ON NOW IS IS DEMAND U.S. TOWARDS REALLY CHEAP ON THE WORLD MARKET WE’RE VERY COMPETITIVE. SO I WOULD NOT BE SURPRISED TO SEE EXPORT DEMAND IMPROVE JUST A LITTLE BIT. AND WE REALLY NEED TO SEE A LOT OF THAT IN ORDER TO TO TAKE SOME OF THESE UNNEEDED BUSHELS OFF THE BALANCE SHEETS. AND WHEN YOU’RE TALKING ABOUT DEMAND YOU’RE TALKING ABOUT WHETHER IN SOUTH AMERICA AND WHETHER IN SOUTH AMERICA SHOULD DRIVE THIS MARKET TO SOME EXTENT DO WE SEE DURING THE NEXT SEVERAL MONTHS YOU KNOW OF COURSE IF BRAZIL AND ARGENTINA RUN INTO WEATHER ISSUES THAT CAN MEAN BETTER DEMAND FOR U.S. CORN IF THEY END UP WITH BUMPER CROPS THAT COULD MEAN LESSER DEMAND. SO A LOT HINGES ON THE SOUTH AMERICAN PRODUCTION OUTLOOK. AGAIN JOE VACLAVIK FROM THE CME GROUP IN CHICAGO.
AGRIBUSINESS
WEDNESDAY MARKED THE END OF THE LAST FEDERAL RESERVE MEETING ON TEH YEAR WITH A DECISION ON INTEREST RATES. BUT WHAT IMPACT COULD THAT HAVE ON COMMODITIES, INCLUDING LAND VALUES? CLINTON GRIFFITHS JOINS US NOW FROM THE AGRIBUSINESS DEKS. HERE THE AGRIBUSINESS DESK I HAVE BOB UTTERBACK OF UTTERBACK MARKETING. ALL RIGHT BOB LET’S TALK SOME OF THIS MACRO ECONOMIC STUFF AND I KNOW AS WE SIT BACK AND LOOK AT THE FEDERAL RESERVE AND LOOK AT INTEREST RATES AND WE LOOK AT WHAT’S HAPPENING IN THE OVERALL ECONOMY THERE ARE SOME THINGS THAT PEOPLE ARE EXPECTING TO HAPPEN IF WE RAISE INTEREST RATES. WHAT’S THE IMPACT HERE IN AGRICULTURE INTEREST RATES AND LAND VALUES ARE INVERSELY RELATED AS INTEREST RATES GO UP LAND VALUES ARE UNDER PRESSURE BECAUSE IT COST MORE. NOW IF THIS TAX BILL INSIDE THIS TAX BILL DOESN’T ALLOW YOU TO WRITE OFF YOUR INTEREST RATES ON LAND PURCHASES TO A POINT THAT COULD HAVE A MORE DETRIMENTAL IMPACT. SO IT’S GOING TO START LIMITING IF NOT FLATTEN IF NOT CORRECT LAND GROWTH PRICES FOR A PERIOD OF TIME UNTIL GRAIN PRICES RALLY. SO IN THIS TRANSITION THERE’S A TWO YEAR TIME HORIZON I THINK IS PROBABLY AS FAR AS WE GO OUT THERE’S GOING TO BE SOME REAL PRESSURE THAT LAND VALUES WILL CONTRACT BECAUSE THE TAX AND HIGHER INTEREST RATES AND THE NEFARIOUS IMPLICATION OF THAT IS IS THAT AS BANKS NOW HAVE TO REQUIRE GREATER COLLATERAL. SO THERE’S USUALLY LAND LAND IS NOT GOING TO TAKE MORE TO COVER WHAT THE EXISTING DEBT IS THAT IS REMINISCENT TO A POINT OF WHAT HAPPENED IN THE EARLY 70S 80S 81 387 IS THAT BASICALLY LAND DECLINE WAS A MUCH MORE INDEBTED STRUCTURE THEN BUT LAND DECLINE AND IT CAUSE PEOPLE TO BE UPSIDE AND HAD TO BE LIQUIDATED. AND I THINK THAT’S THE PRESSURE I THINK EXPECT THIS TIME NEXT YEAR IF LAND IF CORN PRICES IF KERRY OVERSTEER TO 3 TO 5 WE CARRY POWER OUR OLD CROP FORWARD AND DECEMBER CORN IS SOUTH OF 315 PROBABLY CLOSER TO 320 TO 310 BOARD WITH A WIDE BASIS. SO YOU’VE GOT CASH CORN IN CENTRAL ILLINOIS BELOW THREE DOLLARS BEING CLOSER TO 9 IF NOT LOWER. THAT IS GOING TO CAUSE AND THEN IT’S JUST A STAGNANT MARKET AFTER IT NOT ROYD DROPPING BUT GOING SIDEWAYS THAT’S GOING TO DRIVE CORN BELOW THE COST AS BEING BANK PRESSURE. AND SO IT’S TIME TO TALK TO YOUR BANKER TODAY NOT NEXT YEAR WHEN THINGS TALK TO HIM DAY AND SAY OK LET’S GET IN FRONT OF THIS CURVE WHAT DO I WANT TO DO. SHOULD I LIGHTEN UP A LITTLE NOW WHILE MBAISE ARE STILL REASONABLY STRONG. BUT AS A BUYER I THINK THE TIME TO BE BUYING LAND IS PROBABLY TWO YEARS OUT FROM NOW. I WOULD REALLY BE ONE POSITION MYSELF TO BUY LAND. OK. WELL IT IS A BIG MACROECONOMIC PICTURE AND OF COURSE WE DON’T KNOW HOW MUCH GROWTH WE’RE GOING TO HAVE HERE NATIONALLY ANYWAY BUT WE HAVE TO HAVE WE HAVE TO HAVE ECONOMIC GROWTH OR THE FEDERAL DEFICIT ISSUE AND THE SPENDING ISSUE IS GOING TO HAVE TO BE ADDRESSED. AND POLITICALLY NOBODY WANTS TO ADDRESS BINNING REDUCTIONS BECAUSE NOBODY GETS REELECTED TAKING GIVEN YOU LESS. THAT’S RIGHT. IT’S A BIG MOVING TARGET HERE. APPRECIATE IT BOB. THANK YOU FOR THE INSIGHT.WE’LL BE BACK IN JUST A MINUTE.
WEATHER
WELCOME BACK TO AGDAY ON THIS THURSDAY. TIME NOW TO CHECK IN WITH OUR METEOROLOGIST MIKE HOFFMAN AND MIKE LOOKING AT THIS MAP. IT LOOKS LIKE THERE ARE SOME WEATHER MAKERS AND SOME SNOW FALLING INTO THIS RIGHT AND NOTHING MAJOR OK OVER THE NEXT FEW DAYS BUT NONETHELESS THERE’LL BE SOME NUISANCE SNOWS MOVING ACROSS PARTS OF THE COUNTRY. AS YOU CAN SEE THERE ARE A COUPLE OF THEM THIS MORNING ONE ALONG THE EAST COAST JUST SOME LIGHT SNOW IN THE MID-ATLANTIC STATES AND ALSO ANOTHER ONE DIVING INTO THE WESTERN PORTIONS OF THE PLAINS. HIGH PRESSURE IN BETWEEN THOSE KIND OF KEEPING THINGS DRY THOUGH YOU CAN SEE AS WE HEAD THROUGH TODAY THE SYSTEM IN THE WESTERN PLAINS REALLY WEAKENING AS IT COMES IN. HIGH PRESSURE CONTINUES TO DOMINATE THE WEST AS WE’VE SEEN RECENTLY AND ANOTHER SYSTEM KIND OF DIVING INTO THE WESTERN GREAT LAKES BY LATER TODAY. BY TOMORROW MORNING AND WE’LL SEE THAT SNOW ACROSS MOST OF MICHIGAN AND MOST OF THE CENTRAL GREAT LAKES. ALSO YOU’LL NOTICE SOME MOISTURE DOWN IN SOUTHERN TEXAS SOUTHERN LOUISIANA A LITTLE BIT OF SHOWER AND THUNDERSTORM ACTIVITY KIND OF COMING ALONG THIS SOUTHERN END OF THAT COLD FRONT THERE AND THEN AS WE HEAD THROUGH THE DAY TOMORROW HEADING TOWARD THE WEEKEND SEE THE COLD FRONT FINALLY COMING INTO THE NORTHWESTERN PORTIONS OF THE COUNTRY THAT’S PRODUCING A LITTLE BIT OF RAIN AND MOUNTAIN SNOW OUT THERE. WE WILL HAVE ANOTHER SYSTEM KIND OF DIVING INTO THE NORTHERN PLAINS AS WE HEAD THROUGH THE DAY. I SHOULD SAY THE NIGHTTIME ON FRIDAY NIGHT AND ON INTO THE DAY ON SATURDAY. OTHERWISE JUST NOTHING REALLY SIGNIFICANT ANYWHERE ACROSS THE COUNTRY. THERE IS A PRECIPITATION ESTIMATE OVER THE PAST 24 HOURS HEADING THROUGH THE NEXT 36 HOURS. YOU’LL NOTICE THAT WE DO GET A LITTLE BIT OF MOISTURE THROUGH AGAIN THE GREAT LAKES AREA. MOST OF THAT STORM IN THE NORTHEAST STAYS THERE AND A LITTLE BIT OF RAIN IN SOUTH TEXAS SOUTHERN LOUISIANA. IT’S ALL SNOW FARTHER NORTH PAST 24 HOUR SHOWS THAT BAND ACROSS THE GREAT LAKES INTO PENNSYLVANIA ADDING IN THE NEXT 36 HOURS WILL ADD A FEW PLACES OF LIGHT SNOW BUT JUST NOT A WHOLE LOT. SO THERE ARE NO MAJOR TRAVEL ISSUES JUST SOME NUISANCE SNOWS LIKE WE TALKED ABOUT EARLIER AFTERNOON TEMPERATURES TEENS AND 20S ACROSS THE GREAT LAKES THAT’S A COLD PART OF THE COUNTRY LOTS OF 40S OUT WEST AND 60S BY THE TIME YOU GET TO THE GULF COAST LOW TEMPERATURES TONIGHT GOING TO DROP INTO THE SINGLE DIGITS AND TEENS ACROSS MOST OF THE GREAT LAKES AND THE NORTHEAST AND DOWN INTO THE 30S AND 40S ALL THE WAY SOUTHWARD INTO MISSISSIPPI ALABAMA AND GEORGIA. PRETTY CHILLY FOR THIS TIME OF THE YEAR. MORE OF THE SAME AS WE HEAD THROUGH TOMORROW AFTERNOON. NOW HERE’S THE JET STREAM WE’VE SEEN THIS TROUGH FOR THE PAST COUPLE OF WEEKS IN THE EASTERN PART OF THE COUNTRY IT’S CONTINUING FOR NOW. BUT YOU’LL NOTICE AS WE HEAD THROUGH THE WEEKEND THINGS GO ZONE FOR A LITTLE BIT AND THEN WE KIND OF SEE ANOTHER TROUGH DIGGING IN FOR EARLY PARTS OF NEXT WEEK. BUT THERE ARE SOME CHANGES COMING FOR NEXT WEEK. THEN WE GO BACK TO ALL COLD AGAIN BY CHRISTMAS WEEK. THAT’S A LOOK ACROSS THE COUNTRY. NOW LET’S TAKE A LOOK AT SOME LOCAL FORECASTS. FIRST OF ALL FOR LINEMEN COLORADO A MIXTURE OF CLOUDS AND SUNSHINE MAYBE A SNOW SHOWER HIGH OF 37 DEGREES. PINE BLUFF ARKANSAS LOTS OF SUNSHINE AND COOLER HIGH AROUND 50. AND FINALLY MANCHESTER NEW HAMPSHIRE A GOOD DEAL OF SUNSHINE IN ON THE COLD SIDE HIGH OF 27.
TEASE
UP NEXT IN DROVERS T-V....THE LATEST ON A MULTI-MILLION DOLLAR EMBEZZLEMENT CASE INVOLVING A STATE BEEF COUNCIL AND HOW THEY PLAN TO RETRIEVE THOSE STOLEN FUNDS. PLUS HOMEMADE CHRISTMAS ORNAMENTS AND PRESENTS GALORE - WE’LL VISIT THIS SANTA’S WORKSHOP IN TENNESSEE WHERE ELVES ARE REPLACED BY EXTENSION VOLUNTEERS. AGDAY - BROUGHT TO YOU BY JOHN DEERE. WHERE CAN YOU FIND THE MOST COMPREHENSIVE INVENTORY OF JOHN DEERE CERTIFIED PRE-OWNED TRACTORS, COMBINES AND SPRAYERS? MACHINEFINDER DOT COM. SOMETIMES THE BEST NEW ADDITION TO YOUR FLEET ISN’T NEW.”
DROVERS TV
DROVERS TV ON AGDAY IS BROUGHT TO YOU BY QLF. FOR 40 YEARS, QLF HAS BEEN PROUD TO SUPPORT AMERICAN FARMERS THAT FEED THE WORLD. A BLUE RIBBON PANEL INVESTIGATING AGRO-BIO-DEFENSE THREATS TO THIS COUNTRY ISSUED AN URGENT CALL ON WEDNESDAY. THE COMMITTEE IS HEADED=UP BY FORMER SENATOR JOE LIEBERMAN. LIEBERMAN SPOKE BEFORE THE SENATE AGRICULTURE COMMITTEE ABOUT “SAFEGUARDING AMERICAN AGRICULTURE” AGAINST BIOLOGICAL OUTBREAKS - BOTH NATURALLY OCCURING LIKE AVIAN FLU, OR INTENTIONAL ACTS OF TERRORISM. THE BLUE RIBBON PANEL SPENT THE LAST YEAR EVALUATING CHALLENGES IN AGRO-DEFENSE. LIEBERMAN SAYS DESPITE THE IMMENSE ECONOMIC IMPACT OF AGRICULTURE ON THE U-S ECONOMY, THE PANEL FEELS THERE’S IN-ADEQUATE FUNDING AND ATTENTION TOWARD ANIMAL AND ENVIRONMENTAL HEALTH SECTORS. “INADEQUATE ATTENTION AND FUNDING IS MORE SEVERE IN THE ANIMAL HEALTH SECTOR THAN IN PUBLIC HEALTH GENERALLY. IN FISCAL YEAR 2017 ACCORDING TO OMB AGRICULTURE PROTECTION FUNCTION REPRESENTED ABOUT POINTS 76 PERCENT OF THE TOTAL DETRIMENT WIDE HOMELAND SECURITY BUDGET REQUEST"LIEBERMAN SAYS AGRO-DEFENSE IS SO BROAD, IT ENTAILS USDA, FDA AND THE DEPARTMENT OF HOMELAND SECURITY. BUT HE SAYS THERE’S NO CLEAR OWNERSHIP OF THE MISSION TO PROTECT THE NATION’S FOOD SUPPLY FROM OUTSIDE THREATS. THE FORMER SENATOR SAYS D-H-S REQUESTED ZERO DOLLARS IN RESEARCH AND DEVELOPMENT FOR AGRO-BIO-DEFENSE IN FISCAL YEAR 2018. IN NEWS FROM OUR PARTNERS AT DROVERS - THE OKLAHOMA BEEF COUNCIL FILED A LAWSUIT MONDAY SEEKING TO RECOVER SOME OF THE TWO-AND A HALF MILLION DOLLARS IN CHECKOFF FUNDS EMBEZZLED BY A FORMER EMPLOYEE. THE SUIT WAS FILED AGAINST THE OKLAHOMA-BASED ACCOUNTING FIRM OF ‘ARLEDGE & ASSOCIATES”. THE SUIT CONTENDS THAT THE AUDITS PERFORMED BY THE FIRM FROM 2012 TO 2015 WERE INCORRECT AND MISLEADING. IT ALSO BLAMES THE FIRM FOR FAILING TO PROPERLY CONDUCT A RISK ASSESSMENT OF THE O-B-C’S BOOK. “OKLAHOMA BEEF COUNCIL CHAIRMAN ANGIE MEYER SAID THE COUNCIL APPROACHED THE LAWSUIT VERY CAREFULLY. SHE SAID THE DECISION WAS MADE AFTER AN EXHAUSTIVE REVIEW PROCESS WITH LEGAL AND ACCOUNTING EXPERTS AND THEY HAVE FULL CONFIDENCE THEY HAVE MADE THE RIGHT DECISION IN FILING THE LAWSUIT."THE ACCOUNTING FIRM SAYS O-B-C’S BOOKKEEPING MATERIALS ALREADY HAD BEEN ALTERED TO CONCEAL ANY EVIDENCE OF EMBEZZLEMENT BEFORE THE FIRM’S AUDITORS EVER SAW THEM. THE COMPANY SAID IT’S “CONFIDENT THAT A JURY WOULD FIND THAT THE EMBEZZLEMENT WAS DETECTABLE ONLY TO THOSE PERSONS WITHIN THE BEEF COUNCIL WHO HAD THE RESPONSIBILITY TO ESTABLISH AND UTILIZE INTERNAL CONTROLS.” IN MAY, MORTON PLED GUILTY TO EMBEZZLING O-B-C MONEY AND TAX FRAUD. HER SENTENCING DATE IS SCHEDULED FOR DECEMBER 28TH. SHE FACES UP TO 30 YEARS IN PRISON.
TEASE
UP NEXT CELEBRATING CHRISTMAS IN THE COUNTRY BY SHOPPING AT A BAZAAR RUN BY EXTENSION VOLUNTEERS.
IN THE COUNTRY
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA. SEE THE ALL-NEW KOMMANDER-PRO ZERO-TURN MOWER AT KUBOTA.COM.THE HOLIDAY SEASON IS A TIME OF GIVING – STORE-BOUGHT GIFTS, BAKED GOODS, AND CRAFTS MADE WITH CARE AND AFFECTION. IN THIS REPORT PROVIDED BY U-T INSTITUTE OF AGRICULTURE CHARLES DENNEY SHOWS US THE BEAUTY OF WHAT’S MADE, AND HOW PEOPLE WILL BENEFIT. FILLING THREE BUILDINGS AT THE WILSON COUNTY FAIRGROUNDS, SHOPPERS HAVE PLENTY OF ITEMS TO BROWSE AND BUY. IN ITS FIFTH YEAR AND GROWING, THIS IS THE ANNUAL HOLIDAY CRAFTS BAZAAR ORGANIZED BY LOCAL FAMILY AND COMMUNITY EDUCATION OR FCE CLUBS AND UT EXTENSION. “IF IT’S ON YOUR LIST, IT’S PROBABLY HERE.” LOCAL ARTISANS DISPLAY CRAFTS, SOME WITH A HOLIDAY THEME AND OTHERS THAT WORK IN YOUR HOME YEAR ‘ROUND. (FRANCES BAKER) “WE DO. WE HAVE ALL KINDS OF CRAFTS HERE. WE HAVE JEWELRY, ANYTHING YOU’D WANT TO BUY ALSO FOR CHRISTMAS. WE HAVE HANDMADE ITEMS, AND WE HAVE CANDY.” FRANCES LEADS WILSON COUNTY FCE, AND SHE’LL SOON TURN THINGS OVER TO PRESIDENT-ELECT DOROTHY DUNN. DOROTHY SAYS PROCEEDS FROM SOME ITEMS SOLD WILL GO BACK INTO THE COMMUNITY – CHARITIES LIKE A LOCAL MEN’S CENTER AND 4-H. FCE MEMBERS ARE ALSO GENEROUS WITH THEIR KNOWLEDGE. (DOROTHY DUNN) “WE NEED TO HELP OUR FELLOW MAN. SO THIS IS A WAY FOR US TO HELP OUR FELLOW MAN. YOU KNOW - TEACHING THEM, WORKING WITH THEM TO LEARN CRAFTS. (CHARLES DENNEY) “BACK IN THE HEAT OF AUGUST AT THE WILSON COUNTY FAIR, THE FCE CLUB HAD CHRISTMAS ON THE BRAIN. THEY MADE MORE THAN 600 ORNAMENTS, AND DONATED THEM TO HELP PEOPLE IMPACTED LAST HOLIDAY SEASON BY THE SEVIER COUNTY WILDFIRES.” HOLIDAY ORNAMENTS FOR PEOPLE WHO’VE LOST SO MUCH IS JUST ONE WAY FCE LOOKS TO HELP OTHERS. THE ORGANIZATION HAS A HISTORY OF THIS. (SHELLY BARNES) “YOU KNOW FCE IS A GRASS ROOTS ORGANIZATION - STARTED BY EXTENSION BUT REALLY HAS FLOURISHED OVER THE LAST ONE HUNDRED PLUS YEARS, AND THE WHOLE THING IS TO GIVE BACK TO THE COMMUNITY. THEY REALLY BELIEVE IN COMMUNITY SERVICE PROJECTS AND BETTERING THE COMMUNITY THEY LIVE IN.” IT’S OFTEN SAID THE MOST THOUGHTFUL PRESENT IS ONE WHERE SOMEONE TOOK THE TIME TO MAKE IT SPECIAL. AND WHETHER YOU’RE SHOPPING FOR GIFTS OR MAKING THEM, THESE CRAFTY FOLKS SAY THIS BAZAAR IS A GREAT WAY TO GET IN THE SEASONAL SPIRIT. “MERRY CHRISTMAS!” THIS IS CHARLES DENNEY REPORTING. SPEAKING OF CHRISTMAS, WE WILL ONCE AGAIN BRING YOU OUR SPECIAL HOLIDAY PROGRAM CALLED “CHRISTMAS IN THE COUNTRY”. CLINTON AND I WILL BRING YOU STORIES THAT SHOW HOW PEOPLE IN RURAL AMERICA CELEBRATE THE SPECIAL DAY. CHRISTMAS IN THE COUNTRY AIRS DECEMBER 25TH RIGHT HERE ON AGDAY.
CLOSE
THAT’S ALL THE TIME WE HAVE THIS MORNING. WE’RE GLAD YOU TUNED IN. FOR MIKE HOFFMAN, AND ALL OF US AT AGDAY. I’M TYNE MORGAN. HAVE A GREAT DAY. AGDAY - BROUGHT TO YOU BY RAM COMMERCIAL - AMERICA’S LONGEST-LASTING HEAVY DUTY PICKUPS.
