TODAY ON AGDAY
JULY 27, 2017
HEADLINES
CHANGES COMING TO PRECISION PLANTING. WHICH COMPANY MADE THE BIG PURCHASE? CONGRESS PUSHES BACK ON AG. MEGA MERGERS. SHOULD YOU BE TIMID WHEN IT COMES TO SELLING NEW CROP? COULD WHOLE FOODS IMPACT THE WAY YOUR MEAT PURCHASES? AND HOW MUCH IS A PRESTINE TENNESSEE LAKE FRONT? AGDAY-BROUGHT TO YOU BY THE DEPENDABLE, LONG LASTING CHEVY SILVERADO.
AGCO INTENDS TO BUY PRECISION
GOOD MORNING I’M BETSY JIBBEN, IN FOR CLINTON GRIFFITHS. THREE MONTHS AFTER MONSANTO PULLED THE PLUG ON A DEAL TO SELL ITS ‘PRECISION PLANTING’ OPERATIONS TO JOHN DEERE, THERE’S NOW A NEW SUITOR. AGCO ANNOUNCING ITS INTENTIONS TO BUY PRECISION FROM MONSANTO SUB- SID-E-ARY, THE CLIMATE CORPORATION. THE TWO COMPANIES HAVE SIGNED A DEFINITIVE AGREEMENT BUT THE PRICE TAG IS NOT BEING DISCLOSED. IN MAY MONSANTO SAID IT WAS TERMINATING THE DEAL WITH DEERE TO PURCHASE PRECISION PLANTING. THE TRANSACTION HAD BEEN SCRUTINZED FOR MONTHS BY THE DEPARTMENT OF JUSTICE. IN AUGUST 2016 THE D-O-J FILED SUIT TO BLOCK THE AQUISITION, CALLING IT “MERGER-TO-MONOPOLY” IN HIGH SPEED PLANTING SYSTEMS. THIS NEW OFFER FROM AGCO WILL NOW UNDERGO REGULATORY REVIEW. MEANWHILE A GROUP OF NINETEEN DEMOCRATIC SENATORS ARE PUSHING BACK AGAINST A PROPOSED MERGER OF MONSANTO AND BAYER. THE LAWMAKERS ARE ASKING THE JUSTICE DEPARTMENT TO “CONDUCT A THOROUGH AND IMPARTIAL ANALYSIS” OF THE PROPOSED 66 BILLION DOLLAR DEAL. IN A LETTER, THE GROUP SAYS THE DOJ’S ANTITRUST DIVISION SHOULD “CAREFULLY CONSIDER THE IMPACT THIS MERGER WILL HAVE ON AGRICULTURAL BUSINESSES, FARMERS, AND CONSUMERS.” THE DOJ IS DECLINING TO COMMENT. THE COMPANIES ARE HOPING TO CLOSE THE DEAL YET THIS YEAR. REPUBLICAN SENATOR CHUCK GRASSLEY CHAIRS THE SENATE JUDICIARY COMMITTEE WHICH OVERSEES ANTI-TRUST ISSUES. HE’S EXPRESSED CONCERN OVER THE WAVE OF LARGE MEGA-DEALS LIKE THIS.
TRIMBLE SOFTWARE, CNH REACH DEAL
IN OTHER NEWS FROM THE FARM DIGITAL WORLD - TRIMBLE AG SOFTWARE AND C-N-H SAY THEY REACHED A DEAL TO ENABLE WIRELESS CONNECTIVITY BETWEEN THEIR SYSTEMS. THE COLLABORATION ALLOWS THE COMPANIES TO INTEGRATE THEIR CLOUD-BASED SOFTWARE WHICH STREAMLINES FARM DATA. THERE ARE TOUGH TIMES AHEAD AT ARCHER DANIES MIDLAND. THE COMPANY ANNOUNCED IT WILL BE LAYING-OFF AN UNSPECIFIED NUMBER OF WORKERS. A- D-M MOVED ITS CORPORATE OFFICES TO CHICAGO BUT KEPT PRODUCTION FACILITIES IN DECATUR WHICH EMPLOYS ABOUT FOUR THOUSAND PEOPLE. IN A STATEMENT THE COMPANY SAYS THE CUTS ARE PART OF THEIR EFFORTS TO BE AGILE AND STREAMLINED TO RESPOND TO MARKET CONDITIONS.
FARM BILL HEARING AND CROP INSURANCE
FARMERS ARE ALSO FEELING THE PINCH OF TIGHT TIMES WITH THE AG. ECONOMY. DURING A SENATE AG COMMITTEE HEARING THIS WEEK ON THE NEW FARM BILL AND AG. ECONOMY, CROP INSURANCE ADJUSTERS VOICING THE STATE OF THE ECONOMY WITH LOANS AND FARM DEBT. “THE DECLINE IN FARM INCOME HAS STRESSED THE ABILITY OF BORROWERS TO CASH FLOW. MANY FARMERS HAVE STRONG EQUITY BUT NOT ENOUGH WORKING CAPITAL OR POSITIVE CASH FLOW. DEMADN FOR DEBT RESTRUCTURING WILL INCREASE. BANKERS ARE CONCERNED REGULAT ORS MAY OVER REACT CLASSIFYING LOANS WITH NEGATIVE CASH FLOW DESPITE STRONG LAND EQUITY,"KLUESNESAYS SHE’D LIKE TO SEE USDA TRANSER UNUSED SURPLUS FUNDS TO THESE PROGRAMS.
REOPENING CHINESE MARKET TO U.S. POULTRY
A BI-PARTISAN GROUP OF SENATORS ARE PUSHING USDA AT STAYING PERSISTENT WITH CHINA, SO U.S. POULTRY WILL BE SHIPPED TO THE COUNTRY AGAIN. 37 LAWMAKERS WRITING AG. SECRETARY SONNY PERDUE, ASKING FOR QUICK ASSISTANT TO REOPEN THE MARKET AFTER U.S. CHICKEN AND TURKEY WERE BANNED IN 2015 DUE TO HIGH PATH AVIAN FLU IOWA SEN. GRASSLEY IN SUPPORT OF REOPENING THE MARKET. “SOMETIMES SOME COUNTRY WILL WANT TO KEEP OUT OF PRODUCT TO PROTECT THEIR OWN DOMESTICALLY PRODUCED PRODUCT. AND SO THEY JUST MAKE A DETERMINATION THAT THERE’S SOMETHING WRONG WITH OUR SOYBEANS OR OUR CORN OR OUR BEEF OR NOW OUR CHICKEN. AND YOU CAN’T LET THEM GET AWAY WITH IT. AND IF THEY DON’T ANSWER OUR RESPONSE AND GET THIS INTO IT WE’LL HAVE TO TAKE IT CASE BEFORE THE WORLD TRADE ORGANIZATION TO GET IT ARBITRATED."THE NATIONAL TURKEY FEDERATION , NATIONAL CHICKEN COUNCIL AND USA POULTRY AND EGG EXPORT COUNCIL EXPRESSING APPRECIATION AND SUPPORT AND ARE ENCOURAGED CHINA HAS BEGUN ITS ANIMAL HEALTH AUDIOT OF U.S. POULTRY.
MONTANA WILDFIRES
FOUR WILDFIRES HAVE BURNED NEARLY 400 SQUARE MILES OF DROUGHT- PLAGUED EASTERN MONTANA. MUCH OF IT IS FARMLAND AND RANCH LAND. FIREFIGHTERS BELIEVE A LIGHTNING STRIKE STARTED THE FIRES LAST WEEK. THE FIRES BURNED 16 HOMES IN THE S-PARS-ELY POPULATED REGION. AUTHORITIES ARE ASKING RANCHERS AND OTHER LANDOWNERS TO REPORT ANY LOSSES OF LIVESTOCK, PASTURE, HAY AND FENCING. THE NEW DROUGHT MONITOR COMES OUT LATER THIS MORNING BUT THIS IS WHAT IT LOOKED LIKE LAST WEEK. THAT DARKEST SPOT IS GARFIELD COUNTY WHICH IS “GROUND ZERO” FOR THE WILDFIRES. NEARLY A QUARTER OF THE STATE IS IN THE WORST CLASSIFCATIONS OF DROUGHT.
CROP COMMENTS
RAIN HITTING AREAS OF THE NORTHERN PLAINS THIS WEEK. MIKE HOFFMAN HAS A LOOK IN THIS MORNING’S CROP COMMENTS. MIKE. THANKS BETSY. CHRIS DIEDRICH FROM BROOKINGS, SOUTH DAKOTA SAYS THE AREA HAD QUITE A STORM THIS WEEK, BUT HE BELIVES THIS CLOUD NEVER DROPPED TO A FUNNEL. HE’S RECEIVED OVER 5" AS OF JULY 17. CHRIS SAYS CROPS ARE LOOKING BETTER- HE’S RECIVED RAINS AND COOLER WEATHER DURING CORN POLLINATION. THE POTENTIAL IS THERE FOR A GOOD YIELD. AND MATT NELSON IS BURT COUNTY, NEBRASKA SAYS HE RECEIVED A MUCH NEEDED INCH OF RAIN THIS WEEK. IT’S THE FIRST MOISTURE HE’S SEEN IN TWO WEEKS! USDA SAYS 61 PERCENT OF THE STATE’S CORN CROP AND 59 PERCENT OF THE STATE’S SOYBEAN CROP IS RATED GOOD TO EXCELLENT. AND NOW HERE’S SOME OF YOUR HOMETOWN TEMPS. 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!
TEASE
NEXT IN AGRIBUSINESS WE’LL LOOK AT SELLING YOUR NEW CROP. HOW MUCH SHOULD ALREADY BE PENCILED OUT? AS AMAZON GOBBLES UP WHOLE FOODS, WHAT COULD IT MEAN TO THE BEEF SECTOR? WE’LL HAVE SOME ANSWERS FROM OUR PARTNERS AT DROVERS. AND WOULDN’T IT BE NICE TO HAVE A LITTLE PIECE OF PROPERTY ALONG A PRISTINE LAKE? BUT THAT LUXURY COMES WITH A COST. DETAILS AS WE HEAD IN THE COUNTRY.
FLOOR OF THE CME
IT’S BEEN A ROLLERCOASTER DAY AS MARKETS WENT FROM RED TO GREEN AND SOME COMMODITIES SURGED BACK DOWNWARD. WE’LL GET A LOOK FROM THE FLOOR OF THE CME. HI IT’S BEEN A FIRM TONE IN THE GRAIN MARKETS FOR A WEDNESDAY AND THE MARKETS MAY BE FINDING AT LEAST A LITTLE BIT OF A SHORT TERM LOW END THROUGH HERE. IF YOU LOOK AT THE DAILY CHARTS FOR THE CORN AND SOYBEANS ALL THREE OF THESE MARKETS HAVE FALLEN INTO AREAS WHERE THEY SHOULD FIND SOME SUPPORT. AND THERE REALLY DOESN’T SEEM TO BE ANY FUNDAMENTAL REASON FOR THEM TO GO ANY LOWER RIGHT AT THIS TIME. PROBLEM IS STILL IN CANADA PROBLEMS FROM TOO MUCH RAIN IN NORTHERN EUROPE ALSO SUPPORTING THE WHEAT MARKET IN THROUGH HERE AND ON THE OTHER HAND THE WINTER WHEAT HARVEST INTO ITS FINAL STAGES IS STARTING TO WIND DOWN A LITTLE BIT. SO THERE’S GOING TO BE LESS OFFERED TO THE MARKET AS WELL. IT’S BEEN A MIXED DAY IN THE CAPITAL MARKETS WITH THE HOG AMERICANS GENERALLY TRADING A LITTLE BIT FIRMER BUT REALLY NOT SHOWING ANYTHING TOO TERRIBLY MUCH AT ALL. HOW MARKETS HEARING ABOUT THE AUCTION MARKETS WHICH IS GETTING UNDERWAY TODAY AND SHOWING ROUGHLY AND CHANGE TO PERHAPS A LITTLE FIRMER PRICES. THE MARKET SEEMED TO HAVE BEEN EXPECTING SOME BETTER PRICES TO BE PAID AS IT HAD BEEN SHARPLY EARLIER IN THE FIRST SHARPLY HIGHER IN THE FIRST PART OF THE DAY. BUT IT HAD KIND OF RELAXED AS THE AUCTION MARKET. THE TIGHT MARKET SITUATION THAT WE’VE HAD UP UNTIL OVER THE LOCK UP UNTIL RECENTLY SEEMS TO BE CHANGING RAPIDLY NOW INTO ONE WHERE THERE’S PLENTY OF THERE’S PLENTY OF CASH AND PLENTY OF BEEF AVAILABLE TO THE MARKET. THANKS VERY MUCH. THIS IS JACK SCOVILLE I’M VICE PRESIDENT OF PRICE FUTURES GROUP HERE ON THE CME GROUP FLOOR WITH SOME COMMENTS FOR THE MARKETS TODAY.
AGRIBUSINESS
IN THIS MORNING’S ANALYSIS, TYNE MORGAN DISCUSSES HOW MUCH OF YOUR NEW CROP YOU SHOULD BE SELLING. TYNE. HERE NOW WITH MATT BENNETT OF BENNETT CONSULTING. MATT WITH SO MUCH UNCERTAINTY ON WHAT THE NATIONAL YIELD IS GOING TO BE YOU KNOW PRODUCTION WISE WHAT WE’RE GOING TO HAVE THIS YEAR. YOU KNOW I’VE HEARD A LOT OF PRODUCERS THAT ARE KIND OF TIMID ON SELLING ANY NEW CROP. WHAT’S YOUR ADVICE FOR A NEW CROP. ABSOLUTELY THERE’S A LITTLE BIT DIFFERENT ADVICE FOR EVERY PERSON. YOU KNOW THE THING IS THAT HEY IF I’M IN A SITUATION WHERE I’VE GOT REALLY GOOD YIELD POTENTIAL I FEEL GOOD ABOUT HOW MUCH MOISTURE I’VE HAD. IT’S A LOT EASIER TO GO AHEAD AND SELL DECEMBER $4 CORN YOU KNOW A LOT OF FOLKS HAVE TALKED INCLUDING MYSELF ABOUT BUYING CALLS EARLIER IN THE YEAR WHENEVER THE MARKETS WERE JUST IN THE DOLDRUMS YOU KNOW AND YOU COULD BUY THEM FAIRLY CHEAP. THE NICE THING ABOUT THAT KIND OF STRATEGY IF YOU HAVE IT IN PLACE IS THAT IF YOU HAVEN’T GOT THE RAIN YOU CAN STILL GO AHEAD AND MAYBE MAKE A SALE BECAUSE YOU’RE GOING TO PARTICIPATE IF THE MARKET CONTINUES HIGHER. BUT YOU JUST DON’T WANT TO GET TOO AGGRESSIVE IF YOU HAVEN’T BEEN ABLE TO CATCH MUCH RAIN. SO IT’S A TOUGH BARGAIN YOU HAVE WITH MATT AT THIS POINT IN THE GAME. HOW MUCH WOULD YOU SUGGEST FORD CONTRACTING WHEN WE COULD POSSIBLY HAVE SOME FIREWORKS IN THESE MARKETS LATER IN THE YEAR. I THINK THAT IF I’M IN A SITUATION WHERE I KNOW MY PRODUCTION IS GOOD AND I’M LOCKING IN A PROFITABLE SITUATION I CAN’T GET HUNG UP ON THE FACT THAT I’M NOT HITTING THE HIGH BOTTOM LINE. NOW WHENEVER I LOOK AT A GUY THAT MAYBE DOESN’T HAVE A WHOLE LOT OF RAIN IN THE FORECAST HE DOESN’T LOOK LIKE MAYBE HE’S GOT A REALLY GOOD CROP. I DON’T WANT TO LOCK IN AN UNPROFITABLE SITUATION BEFORE HARVEST. YOU KNOW BOTTOM LINE I MIGHT SEE HOW THIS THING PLAYS OUT. IF I CATCH A RAIN A SOAKING RAIN IS CHANGES IN MY SITUATION A LITTLE BIT AT THAT POINT. I WANT TO MOVE FORWARD WITH SALES BUT IF I IF I DO HAVE A GOOD CROP I DON’T SEE ANYTHING WRONG WITH GETTING UP TO 50 PERCENT SOLD OF APH. YOU DO. I DON’T SEE ANYTHING WRONG WITH IT IF YOU FEEL GOOD ABOUT YOUR PRODUCTION AND YOU’VE HAD A LOT OF MOISTURE BECAUSE THERE ARE FOLKS OUT THERE TELLING ME THEY COULD HAVE ONE OF THEIR BEST CROPS EVER THIS YEAR. ALL RIGHT. MATT BENNETT THANK YOU SO MUCH I APPRECIATE IT. STAY WITH US WE’LL HAVE MUCH MORE AGDAY WHEN WE COME BACK. AGDAY - BROUGHT TO YOU BY TOP THIRD AG MARKETING. FARMER-FIRST, WITH A PLAN FOR EVERY MARKET.
WEATHER
WELCOME BACK TO AG DAY WITH METEOROLOGIST CINDI CLAWSON. LOOKS LIKE RAIN IS IN THE FORECAST FOR SOME OF THE CORN BELT STATES. YES SPECIALLY SOME OF THE EASTERN CORN BELT AND SOME OF THESE AREAS HAVE ACTUALLY HAD A FAIR AMOUNT OF RAIN RECENTLY. BUT THERE’S GOOD NEWS KIND OF ON THE WESTERN SIDE OF THAT FRONT AND THAT COMES IN THE FORM OF COOLER TEMPERATURES. LET’S TAKE A LOOK THAT COLD FRONT IS DEFINITELY THE MAIN FEATURE OF OUR FORECAST MAP OVER THE NEXT COUPLE OF DAYS ALONG WITH THE HIGH PRESSURE WE’RE SEEING THERE IN THE UPPER MIDWEST AND PARTS OF THE NORTHERN PLAINS AS THE FRONT CONTINUES ITS SLOW MOVEMENT TO THE SOUTH AND TO THE EAST WE’LL CONTINUE TO SEE SHOWERS AND THUNDERSTORMS ALONG IT. BUT AS THE HIGH PRESSURE SINKS INTO THE UPPER MIDWEST WE’LL START TO SEE SOME COOLER AIR SINKING IN AS WELL AND AREAS LIKE ST. LOUIS KANSAS CITY AND AREAS SOUTH OF THERE WHERE IT’S BEEN EXTREMELY HOT. FINALLY GOING TO SEE A LITTLE RELIEF KIND OF BACK TO NORMAL TEMPERATURES AS YOU GET INTO THE NEXT FEW DAYS WITH THAT SLOW MOVEMENT OF THE FRONT. NOTICE WE REALLY DRY OUT IN THE GREAT LAKES. WE KEEP THE RAIN THOUGH OVER TOWARD THE MID-ATLANTIC AND INTO THE OHIO AND TENNESSEE VALLEYS. AND WE’LL ALSO CONTINUE WITH SOME MOISTURE IN THE FOUR CORNERS REGION. BUT A LOT OF THE NORTHERN PARTS OF THE UNITED STATES WILL BE ON THE DRY SIDE AS WE GET INTO FRIDAY PERHAPS A LITTLE BIT OF AS YOU START TO GET INTO THOSE HIGHER ELEVATIONS A LITTLE BIT OF SHOWER ACTIVITY THERE AS FAR AS PRECIPITATION. BOY THAT LOW REALLY DID BRING SOME RAIN TO SOME OF THE AREAS THAT MAYBE NEEDED A LITTLE BIT MORE WE DON’T NEED IT QUITE AS FAR EAST WHERE THERE HAVE BEEN A LITTLE BIT MORE RAIN ESPECIALLY IN PARTS OF THE EASTERN CORNER BUT YOU COULD SEE THAT FRONT THOUGH BRINGING RAIN ALL THE WAY HEAVY RAINS ALL THE WAY FROM MISSOURI ARKANSAS ALL THE WAY OVER TO THE EASTERN SEABOARD DOWN INTO FLORIDA AS WELL. LET’S TAKE A LOOK AT TEMPERATURES AND AS WE HEAD INTO THE AFTERNOON STILL GOING TO BE PRETTY HOT ACROSS THE SOUTHERN TIER STATES COULD SEE THAT 100 DEGREES THERE IN DALLAS. BUT NOTICE THE SLIGHTLY COOLER TEMPERATURES WE’RE SEEING COMING DOWN FROM THE NORTH AND AS WE HEAD INTO THE OVERNIGHT HOURS WE’RE GOING TO SEE THOSE TEMPERATURES IN THE 60S AND 70S STILL 70S AND 80S ACROSS THE SOUTHERN TIER OF STATES HEADING INTO YOUR FRIDAY. WE’RE GOING TO BE LOOKING AT TEMPERATURES EVEN YOU KNOW DROPPING DOWN A FEW MORE DEGREES NOT SEEING NECESSARILY THE 100S THERE STILL 90S THOUGH THAT’S STILL PRETTY WARM BUT AT LEAST IT’S A LITTLE BIT BETTER THAN SEEING THOSE TRIPLE DIGITS. LET’S TAKE A LOOK AT THE JET STREAM AND WHAT WE HAVE HERE IS WE HAVE THIS BIG RIDGE GOING ON IN KIND OF THE CENTRAL WESTERN PART OF THE UNITED STATES YOU CAN SEE IT MAKES JUST A LITTLE BIT OF EASTERN MOVEMENT. BUT WE DO HAVE THAT TROUGH IN THE NORTH EASTERN UNITED STATES THAT KIND OF FLATTENS OUT A LITTLE BIT TOWARDS THE WEEKEND. BUT OVERALL TEMPERATURES REMAIN ON THE WARM SIDE FOR MUCH OF THE COUNTRY. THAT’S A LOOK AT YOUR NATIONAL FORECAST. NOW LET’S CHECK ON THE WEATHER WHERE YOU LIVE. WHITE ROCK NEW MEXICO SHOWERS AND THUNDERSTORMS WITH HEAVY RAIN POSSIBLE IN A HIGH OF 82 DEGREES. BIRD ISLAND MINNESOTA MOSTLY SUNNY AND NICE FOR YOU WITH A HIGH OF 80 DEGREES AND OAKHILL OHIO. SHOWERS AND THUNDERSTORMS WITH A HIGH OF 81.
TEASE
UP NEXT - SEE HOW AMAZON’S APPETITE TO GROW COULD HAVE AN IMPACT ON THE BEEF BUSINESS. YOU’LL GET DETAILS FROM OUR PARTNERS AT DROVERS. AND WE KNOW WATERSIDE PROPERTY CAN FETCH A PRETTY PENNY. WE’LL LOOK AT A STUDY THAT GAUGES THE VALUE OF THIS LAND IN TENNESSEE.
DROVERS TV
AS ON-LINE RETAIL GIANT AMAZON DELVES DEEPER INTO THE FOOD SECTOR, COULD IT HAVE AN IMPACT ON BEEF DEMAND? AMAZON ANOUNCED LAST MONTH IT’S BUYING WHOLE FOODS FOR 13-POINT- SEVEN BILLION DOLLARS. BUSINESS ANALYSTS SAY IT’S MORE EVIDENCE OF AMAZON’S AMBITIOUS EXPANSION INTO THE FOOD BUSINESS. THE COMPANY HAS REGISTERED A NUMBER OF TRADEMARKS FOR MEAL-KIT CONCEPTS AND PREPARED FOODS THAT WOULD FIT INTO ITS HOME DELIVERY MODEL. DROVERS EDITORIAL DIRECTOR GREG HENDERSON EXPLAINS SOME POSSIBLE IMPLICATIONS TO BEEF. AMAZON HAS BEEN DEVELOPING ITS OWN LINES OF PRE-MADE FOOD AIMED AT PEOPLE SEARCHING FOR MORE QUALITY INGREDIENTS. FOR INSTANCE, THE COMPANY HAS AROUND 10 TRADEMARKS RELATED TO THE PHRASE “SINGLE COW BURGER.” THE SINGLE COW BURGER CONCEPT STEMS FROM WAGYU GRASS-FED BEEF BURGERS AMAZON ALREADY SELLS. IN ADVERTISEMENTS, THE COMPANY ASKS, “HOW MANY COWS DOES IT TAKE TO MAKE ONE BURGER? THANKS TO AMAZON, JUST ONE.” THE SINGLE-SOURCE BEEF BURGERS ARE AVAILABLE EXCLUSIVELY ON AMAZON PRIME. AMAZON’S VENTURE INTO THE BEEF BUSINESS MAY OPEN NEW AVENUES FOR SALES AND HELP INCREASE CONSUMER DEMAND FOR BEEF. HOWEVER, AMAZON’S GROWING INFLUENCE ON THE FOOD INDUSTRY ALSO SUGGESTS GREATER DEMAND FOR BEEF WITH BUZZWORD ATTRIBUTES – HIGH QUALITY, HUMANELY RAISED AND SUSTAINABLE.> A STUDY BY G-F-K SHOWS CUSTOMERS WHO SHOP AT WHOLE FOODS AND AMAZON ARE IN FAVOR OF THE ACQUISION WHILE THE GENERAL PUBLIC ISN’T TOO SURE. ACCORDING TO THE STUDY, 38-PERCENT OF WHOLE FOODS AND 31-PERCENT OF AMAZON SHOPPERS ARE POSITIVE ABOUT THE DECISION. THOSE WHO ALREADY SHOP AT BOTH BIG BOX LOCATIONS ARE THE MOST OPTIMISTIC AT 43 PERCENT. MUCH HIGHER THAN THE 23 PERCENT OF OVERALL U.S. SHOPPERS. REUTERS REPORTING, BRAZIL’S FEDERAL FOOD INSPECTORS RESUMING A PROTEST THIS WEEK AT ITS MEATPACKING LOCATIONS. THIS COMES DURING A TIME WHEN STAFF IS LACKING AT LOCATIONS AT ENSURING FOOD SAFETY. THE PROTEST IS TAKING PLACE AT 100 INSPECTION LOCATIONS AT THE COUNTRY’S PORTS, AIRPORTS AND AGRICULTURAL LABORATORIES.
TEASE
STILL TO COME - PLACING A PRICE-TAG ON THE VALUE OF THE TENNESSEE RIVER. “I’M CHARLES DENNEY. SUMMER MEANS HEAVY RECREATIONAL USE ON MANY TENNESSEE VALLEY AUTHORITY RESERVOIRS BUT CAN YOU PUT A DOLLAR FIGURE ON THESE WATERWAYS. THAT STORY COMING UP ON AGDAY.”
IN THE COUNTRY
IN THE COUNTRY - BROUGHT TO YOU BY KUBOTA. LEARN MORE ABOUT KUBOTA SSV SERIES SKID STEERS AT KUBOTA.COM. OR DEMO ONE AT YOUR LOCAL KUBOTA DEALER TODAY. NEW RESEARCH CONDUCTED BY THE UNIVERSITY OF TENNESSEE SAYS RECREATION ON TENNESSEE VALLEY AUTHORITY’S RESERVOIR SYSTEM CREATES NEARLY 12 BILLION DOLLARS IN ECONOMIC IMPACT. THE SERIES OF DAMS, LAKES AND RIVERS ARE A BIG DRAW TO VACATIONERS. IN THIS REPORT FROM THE U-T INSTITUTE OF AG CHARLES DENNEY SHOWS US HOW EXPERTS CAME UP WITH THESE NUMBERS. ONE MILE - 5,280 FEET ALL TOTAL. BUT ALONG THE SHORES OF WATTS BAR LAKE, CAN YOU PUT A DOLLAR FIGURE ON IT? RECENTLY THE TENNESSEE VALLEY AUTHORITY TEAMED WITH UT’S INSTITUTE OF AGRICULTURE TO LOOK INTO THE ECONOMIC IMPACT GENERATED BY RECREATION ON TVA RESERVOIRS. THE ESTIMATES INCLUDED SOME HEFTY NUMBERS. JERRY FOUSE: “THE FINDINGS HERE, OF COURSE, ARE THE BIG ECONOMIC NUMBERS AND THE 11.9 BILLION DOLLARS OF ECONOMIC IMPACT ANNUALLY FROM RECREATION AROUND THE RESERVOIR SYSTEM, SUSTAINING 130,000 JOBS. YOU KNOW THAT AVERAGES OUT TO BE ABOUT A MILLION DOLLARS PER SHORELINE MILE.” UTIA RESEARCHERS CONDUCTED STUDIES IN THE SUMMER OF 2016 ON THREE RESERVOIRS – NORRIS, WATTS BAR AND CHICKAMAUGA. THE MILLION PER MILE FIGURE COMES FROM PROPERTY VALUES AND THE DOLLARS SPENT BY 65 MILLION RECREATIONAL VISITS EVERY YEAR. CHARLES DENNEY: “UTIA EXPERTS IN AGRICULTURAL ECONOMICS AND FORESTRY, WILDLIFE AND FISHERIES – ALONG WITH A NUMBER OF STUDENTS – DID THE DETAILED STUDY. THE RESEARCH CONSIDERED URBAN AND RURAL AREAS, AND HEAVY AND LOW USE WATERWAYS.” UTIA’S DR. NEELAM POUDYAL SAYS HE WAS NOT SURPRISED BY THE FINDINGS GIVEN HOW OFTEN PEOPLE VISIT THESE LAKES. DR. NEELAM POUDYAL: “IT’S FOR BOATING AND FOR FISHING AND OTHER KINDS OF RECREATION ACTIVITIES, AND THEY BRING IN MILLIONS OF DOLLARS TO SPEND ON SOUVENIRS, RESTAURANTS, AND ALL KIND OF THINGS.” 23:20 “VISITORS SPEND A LOT OF MONEY. AND EVERY SINGLE DOLLAR VISITORS BRING IN FROM OUTSIDE, THAT WILL RIPPLES THROUGH THE ECONOMY AND CREATES MORE AND MORE IMPACT IN TERMS OF JOBS, TAX REVENUE AND OTHER THINGS.” MEANTIME, TVA LEADERS SAY THE DATA WILL HELP THEM BETTER SERVE THE PEOPLE OF THE REGION. MIKE SKAGGS: “IT POINTS OUT THE OPPORTUNITIES THAT WE CAN MAKE TO MAKE A DIFFERENCE IN THE VALLEY AND TO THE NINE MILLION PEOPLE THAT WE PROVIDE SERVICES FOR.” “IT WILL HELP US IN THE FUTURE PLAN OUR RECREATIONAL FACILITIES INVESTMENTS GOING FORWARD KNOWING THE KINDS OF ACTIVITIES - BOATING, FISHING.” LOCALS SAY IT’S A BLESSING TO HAVE SUCH PRETTY RESOURCES LIKE THESE LAKES. NOT ONLY DO THEY PROVIDE SCENERY AND FUN ACTIVITIES – THEY PUT DOLLARS BACK INTO LOCAL COMMUNITIES. THIS IS CHARLES DENNEY REPORTING. TVA RECEIVES NO TAXPAYER FUNDING. IT MAKES MONEY THRU THE SALE OF ELECTRICITY. SOME OF WHICH IS GENERATED IN HYDRO-POWER DAMS.
CLOSE
THAT’S ALL THE TIME WE HAVE THIS MORNING. WE’RE GLAD YOU TUNED IN. FOR TYNE MORGAN AND CINDI CLAWSON. I’M BETSY JIBBEN. HAVE A GREAT DAY. AGDAY IS POWERED BY RAM TRUCKS - AMERICA’S LONGEST LASTING PICKUPS.
