Speaker 1: Good morning it is a chili again, monday april 25th 2022.
Speaker 1: And this is dc signal to noise since we last
Speaker 1: talked to new studies into the potential impacts of the
Speaker 1: cattle market, price discovery and transparency act were completed and released.
Speaker 1: Fighting continued in Ukraine. But there are some reports that
Speaker 1: Ukrainian farmers
Speaker 1: have decided to farm on spring crops are being planted
Speaker 1: in some locations cold and wet gave way to warm
Speaker 1: and windy than warm and rainy and the forecast for
Speaker 1: the last full week of april looks more like it
Speaker 1: should for the first week of the month corn sales
Speaker 1: to china were confirmed.
Speaker 1: The Cincinnati reds snapped an 11 game losing streak. The
Speaker 1: Cubs dropped two games below 500 in the nationals.
Speaker 1: Well the Nationals are trying to figure out if they
Speaker 1: can play themselves out of contention in april. Good morning
Speaker 1: jim how are you? And
Speaker 2: they can and they will
Speaker 1: and they are just what it looks like.
Speaker 2: Not have a good team. I've got my new Warby
Speaker 2: parker glasses and you know
Speaker 2: about every four sets of glasses you get one that
Speaker 2: you really like and this could be it and I'm
Speaker 2: pretty negative but this could be it.
Speaker 1: Oh goodness. You must really like those.
Speaker 2: I like them. They're big, they're big
Speaker 1: big. Alright, how are you buddy? Anything happening over the weekend?
Speaker 2: Uh Well hopefully I'll get my suv back after the
Speaker 2: squirrel ate, I got vivid pictures for people if they
Speaker 2: want to see
Speaker 2: they chewed through that soy oil
Speaker 2: Uh wrapping around my wire. So to the tune of $1600.
Speaker 1: Oh good grief
Speaker 1: good grief. You know there's something you can do about that.
Speaker 1: I'm just saying
Speaker 2: I can park in the garage but that's my man cave.
Speaker 2: Thank goodness for state farm insurance and comprehensive insurance.
Speaker 1: Love it, love it. Alright you know I'm going to
Speaker 1: throw this out there a couple of times during the
Speaker 1: show or during the conversation today. Jim if you want
Speaker 1: to participate
Speaker 1: in the in the conversation we'd love to have you
Speaker 1: do that. There is a comments tab on your page,
Speaker 1: click on that. It'll open up a dialog box for you.
Speaker 1: Type it in there. I'll be watching for it jim
Speaker 1: we'll be watching for it and even joe our producer
Speaker 1: will be will be watching for it.
Speaker 1: Jim I want to go back to something last week
Speaker 1: that I thought was
Speaker 1: was was really unique that happened for agriculture and the
Speaker 1: FBI put out a warning to farmers and elevators to
Speaker 1: be watching for those cyber attacks. The ransomware attacks. It
Speaker 1: it I don't recall that happening before.
Speaker 2: Yeah it has happened before but but but they made
Speaker 2: a big to do more of the to do about it,
Speaker 2: you know this time. So I don't know whether they
Speaker 2: suspect more or not. Especially with the war you know
Speaker 2: in in in in Ukraine and and you know the
Speaker 2: pariah Putin is trying to stop Ukrainian production so why
Speaker 2: wouldn't he want to stop ours as well?
Speaker 1: And it does take us right back to what is
Speaker 1: happening in Ukraine. The U. S. Is offering additional military support.
Speaker 1: And uh frankly a lot more money to aid Ukraine
Speaker 1: in the in their efforts to turn Russia back
Speaker 2: and they're getting the type of or will be getting
Speaker 2: the type of weapons uh you know, chip that could
Speaker 2: take them into the winning category if they get them
Speaker 2: on time.
Speaker 1: And that I think has become more and more of
Speaker 1: the goal, hasn't it? Jim a clear victory for Ukraine.
Speaker 2: Absolutely. I think the country with our country waited too
Speaker 2: late to get going there. I think we tried to dance,
Speaker 2: we were fearing what
Speaker 2: Putin maybe do, but that's you know, no, no way
Speaker 2: to do things like that. So I think that they
Speaker 2: see nothing is going to stop
Speaker 2: him pell mill of going into other countries. By the way,
Speaker 2: that was the message you got from uh our top
Speaker 2: officials that he's not going to stop you. He will
Speaker 2: not stop with Ukraine.
Speaker 1: Right. And Blinken was over the weekend, wasn't they
Speaker 2: were both And our defense secretary, yes, it was a
Speaker 2: so called secret but it was leaking like a sieve
Speaker 2: last week and I know a lot of reporters probably
Speaker 2: kept it
Speaker 2: quiet for you know, security concerns,
Speaker 1: right, Right. Anything in particular that we need to know about,
Speaker 1: that happened at that meeting.
Speaker 2: Uh we haven't had the full readouts yet. But uh
Speaker 2: they they made it clear to the Ukrainian
Speaker 2: leader that he is not going to get more monetary
Speaker 2: aid but he's going to get some hefty military aid
Speaker 2: and not just from the United States.
Speaker 1: Okay.
Speaker 1: Alright. Another foreign happening that I think we need to
Speaker 1: be keeping really close track of is what's happening in
Speaker 1: china
Speaker 1: parts of Beijing or in a lockdown. There's still widespread lockdowns.
Speaker 1: It's the number of people under Lockdown is, it's like
Speaker 1: right at 400 million people. Something. It's crazy man.
Speaker 2: Yes. And it got when I was doing the early
Speaker 2: news and markets chip, you could just feel this is
Speaker 2: on the financial side. This is going to be an
Speaker 2: ugly day in the equities because
Speaker 2: you saw a major downturn in chinese
Speaker 2: equities because of the,
Speaker 2: the growing escalation of covid cases. Now, if you expand
Speaker 2: that to Beijing, we're talking impacts chip and the logistics uh,
Speaker 2: snafus are going to increase, not decrease. So that brings
Speaker 2: us into the world
Speaker 2: logistics area as well. A number of US companies over
Speaker 2: there including Tesla are saying this could set it back
Speaker 2: about three months.
Speaker 1: Yeah.
Speaker 1: And every chance every chance the the chinese people that
Speaker 1: are in those lockdown situations when they get a chance
Speaker 1: to get out and get some food.
Speaker 1: It's a scramble to get it because there's, it looks
Speaker 1: like the shortages that many of fears are really starting
Speaker 1: to develop.
Speaker 2: Yeah they are and and they're not equipped with the
Speaker 2: number of people they have
Speaker 2: in in these two huge cities shanghai and Beijing to
Speaker 2: cope with food logistic uh you know, concerns. So again,
Speaker 2: I I think it's going to get pretty ugly over there. Chip.
Speaker 1: Yeah. Uh to have one
Speaker 1: global leader or leader of a country that that can
Speaker 1: have a major impact on
Speaker 1: global political affairs, kind of backed into a corner and
Speaker 1: and wondering what Putin's next step is going to be.
Speaker 1: That's one thing to have to at the same time
Speaker 1: that are dealing with with with uh domestic issues and
Speaker 1: and so on. It just
Speaker 1: it creates a level of tension that I'm not used to.
Speaker 2: Well, yeah, and you don't want another diversion like what
Speaker 2: you did in Russia because his numbers were going down
Speaker 2: and where did he go? He went into Ukraine. This
Speaker 2: is not a prediction that G is going to go
Speaker 2: into Taiwan, but
Speaker 2: boy, she's got this Party Congress coming up in november
Speaker 2: and it's clear that they're zero covid case. Uh your
Speaker 2: policy was not the right approach, but he's not going
Speaker 2: to move until after that party Congress.
Speaker 1: Right.
Speaker 1: Uh the Rockefeller Foundation over the weekend called for debt
Speaker 1: relief and emergency aid to the poor nations
Speaker 1: to avert massive immediate food crisis. The comments from U. S.
Speaker 1: Territory Secretary Yellen last week about that steps measures need
Speaker 1: to be taken to avoid that
Speaker 1: it's it's uh it's it feels like it's a planning
Speaker 1: for the worst scenario.
Speaker 2: Uh We could have a worst case scenario Chip and
Speaker 2: again I don't like to say these things that as
Speaker 2: a as a history student I've been here before and
Speaker 2: this is increasing not decreasing a little updated news here
Speaker 2: from the US side Chip USDA came out
Speaker 2: this morning at eight o'clock central time with the food
Speaker 2: price forecast update. And once again all all food and
Speaker 2: grocery store price forecasts were increased a 14 year high
Speaker 2: in food price inflation.
Speaker 2: The biggest increases since 2008.
Speaker 2: Restaurant prices are the only area that was not increased
Speaker 2: this month. That's the kind of bottom line of the
Speaker 2: report this morning.
Speaker 1: Yeah. So when you've got your food prices up that
Speaker 1: much but restaurant prices aren't the health of the restaurant
Speaker 1: industry in this country
Speaker 1: is declining. It's not improving right now. There there was
Speaker 1: that big uptick on the you know let's get everybody
Speaker 1: back to normal and get people back out needing again.
Speaker 1: Uh They had that resurgence but the labor issues jim
Speaker 1: they they they're having a tough time getting over that.
Speaker 2: Yeah. You know I had a very good friend paul
Speaker 2: Myers you know him just learned from Hawaii trip with
Speaker 2: his entire family and he said he could not believe
Speaker 2: the number of tourists. They it was hard getting in
Speaker 2: restaurants there.
Speaker 1: So
Speaker 2: the travel at least to Hawaii has really increased.
Speaker 1: Yeah. Yeah and I think there are people that are
Speaker 1: getting out and about, I've got some friends and family
Speaker 1: that are,
Speaker 1: that are in Nashville over the weekend that
Speaker 1: it it they are getting,
Speaker 1: these are these places are getting back to normal, which
Speaker 1: is a great thing but there's still confusion in the air,
Speaker 1: you know, in air travel on whether or not you
Speaker 1: gotta have a mask and where, when and how.
Speaker 2: Well I'm gonna find out friday. I go to fourth
Speaker 2: Myers to an R. C. I. S
Speaker 2: meeting and then I travel over the weekend to Kansas
Speaker 2: city to a
Speaker 2: uh, set up a meeting. So I'm gonna, I'm gonna
Speaker 2: check it out. I think I have Delta and United
Speaker 2: and at least both of those airlines have said, you
Speaker 2: don't have to wear mask. I hope it continues while
Speaker 2: I travel because I can't wait to travel without a
Speaker 1: mask.
Speaker 1: Um,
Speaker 1: last week the biden administration, cabinet officials were out on
Speaker 1: the road really, uh,
Speaker 1: uh, promoting the infrastructure spending jim and, and the projects
Speaker 1: that are being launched that's going to continue for a
Speaker 1: little while
Speaker 2: that will continue. But you know, consumers are in no mood. Uh,
Speaker 2: fart
Speaker 2: tell me how great you are, the type of speeches
Speaker 2: and that's really what it is. I don't blame the
Speaker 2: administration for touting it. I think it was one of
Speaker 2: the few bipartisan my bipartisan victories that they have and
Speaker 2: goodness knows that our infrastructure needs the investment, not only improvements,
Speaker 2: but the fixing
Speaker 2: around the monopoly of things. The rivers are great river systems,
Speaker 2: road systems, etcetera, but uh, with this inflow inflation, that's
Speaker 2: the tax and you see it every day, not only
Speaker 2: at the, at the pump, but in, in, in food stores.
Speaker 2: And I, when I go to the food store, I'm
Speaker 2: hearing it big time on the complaints like wow and
Speaker 2: I'm seeing more pencil pushing with
Speaker 2: the calculators at the, that, that I've seen in years.
Speaker 2: So that tells you the impact.
Speaker 1: Right, right. No doubt about it. Okay, let's talk about
Speaker 1: the rail situation. Um,
Speaker 1: Transportation Secretary Pete Buttigieg is uh,
Speaker 1: is going to be making some comments on the efforts
Speaker 1: to resolve the, the rail service delays and
Speaker 1: I'm not exactly sure how this all started jim
Speaker 2: Well, you know, the,
Speaker 2: you know, surface transportation board STB is, was holding this
Speaker 2: week to public hearings, uh, you know, on and the
Speaker 2: biden administration officials including as you said, buddha edge and uh,
Speaker 2: um jewel bro. Now the USDA deputy Secretary are going
Speaker 2: to be among the many people going to
Speaker 2: testify. Also
Speaker 2: executives from all the major railways chip. So that should
Speaker 2: prove an interesting two days to get to the bottom
Speaker 2: hopefully of some of these uh, estimates of how long
Speaker 2: it's going to return to so called normal service. Uh,
Speaker 2: the piggyback issue
Speaker 2: is agriculture being identified as a priority item on this,
Speaker 2: that hasn't been,
Speaker 2: that hasn't been the case uh you know before so
Speaker 2: we're gonna have, this is the week to air out
Speaker 2: the issues on on the transportation side.
Speaker 1: Yeah and I think it's gonna be a big time
Speaker 1: now friday on the free for all on agritalk. Sean
Speaker 1: Haney from Real Agriculture was talking about it. It centers
Speaker 1: around
Speaker 1: uh companies like cf industry wanting to put their private
Speaker 1: cars on the united pacific lines uh
Speaker 1: which which is common practice but they're just not getting
Speaker 1: the access that they once had. So it's uh it's
Speaker 1: a real issue. There's no question. Um Darren ka pik
Speaker 1: from the Egg retailers association is going to be on
Speaker 1: agri talk this morning
Speaker 1: and we're going to talk about the impact that the
Speaker 1: egg retail
Speaker 1: industry is feeling because of the slowdown in rail shipments.
Speaker 1: But timing couldn't be worse for cf industry and other
Speaker 1: fertilizer providers to lose space on the rail lines
Speaker 2: jail. I agree. And hopefully the issue of fertilizer delivery,
Speaker 2: not only the supply situation, but
Speaker 2: can the railways take accelerated shipment of whatever fertilizer and
Speaker 2: other ag chemicals are available. Hopefully that issue will be
Speaker 2: brought up in either Tuesday or Wednesday.
Speaker 1: Alright. You
Speaker 2: know on the, on the logistics side, I reported this
Speaker 2: morning that uh the congestion chip at the ports of L. A.
Speaker 2: And Long beach have worsened in March. So we're taking
Speaker 2: a step back and they ended three straight months of
Speaker 2: improvement so I think we have a snap back in place.
Speaker 1: Okay, Alright. Um one other thing that happened over the
Speaker 1: weekend that I think we need to talk about quickly
Speaker 1: before we get really into the week ahead
Speaker 1: and Macron won another french presidency.
Speaker 1: I don't know if it was a surprise or not,
Speaker 1: but he didn't have a whole lot of support going
Speaker 1: into
Speaker 2: it. No, but the margin was some bit larger than
Speaker 2: the late polls were suggesting. So uh, interestingly, so the
Speaker 2: White house chief of staff, Ron Clain tweeted I think
Speaker 2: jokingly that,
Speaker 2: hmm
Speaker 2: because Macron's popularity was what very low 36 or 38%
Speaker 2: and he's still and he still won and Ron Klain
Speaker 2: said the famous huh? Referring to, you know, biden's low numbers,
Speaker 1: what what that shows is you can
Speaker 1: you can have a low approval rating but you still
Speaker 1: gotta put competition up against them.
Speaker 2: That's true. And it had been there before and it
Speaker 2: got to
Speaker 2: dicey at this time because she could easily be attacked
Speaker 2: by being too close to Putin and that was not
Speaker 2: the right timing for her,
Speaker 1: right? And Macron also compared her to former president trump
Speaker 1: and said, listen, if you're casting a vote for her,
Speaker 1: you're casting a vote for for president trump. If you're
Speaker 1: voting for her, you're voting for Brexit,
Speaker 1: let's not make some of the same mistakes that that's
Speaker 1: that was his line and the and the french the
Speaker 1: french voters.
Speaker 1: They kind of swarm to it at the last moment.
Speaker 2: Yeah, I think he got just over 58% of the vote, but,
Speaker 2: you know, it was the lowest number in a lot
Speaker 2: of years there. So that tells you to the enthusiasm
Speaker 2: gap in France.
Speaker 1: Well, it's
Speaker 1: I believe I also saw something over the, over the
Speaker 1: weekend that it was
Speaker 1: on average, the youngest group of voters in France in
Speaker 1: a long time. So it's the older voters that have
Speaker 1: kind of thrown their hands in the air and said, listen,
Speaker 1: we don't want anything to do with this
Speaker 2: anymore. Be interesting here because november 8th, midterm elections, Usually
Speaker 2: younger people do not vote
Speaker 2: to the degree
Speaker 2: in midterm elections, so. Well, if that's the case, although
Speaker 2: the younger voters are, are quite negative now on on
Speaker 2: on on president biden as well, you know, you know,
Speaker 2: based on some of the latest, well,
Speaker 1: okay, lawmakers are expected to take that up here this week.
Speaker 1: Both the house and the senator back
Speaker 1: And the Democrats are there. They want to take quick
Speaker 1: action on a couple of key issues. You've got the
Speaker 1: student loans, you got the drug prices and this morning,
Speaker 1: I heard a proposal for a $30 minimum wage.
Speaker 1: Mhm
Speaker 1: Why not make it 100?
Speaker 2: That means Bernie's running for president. Bernie Sanders. I don't
Speaker 2: feel the burn their uh these are, I'll tell you,
Speaker 2: I was at a dinner not too long ago with
Speaker 2: the House editor for the cook political report.
Speaker 2: Uh David Wasserman and I was telling him that uh
Speaker 2: I think this will be announced pretty late in the
Speaker 2: campaign before november 8th by the White House. And Dave said,
Speaker 2: you know, he didn't know how that cut totally,
Speaker 2: you know, you know, for the democrats, because there there's
Speaker 2: mixed opinions on that issue if you outright forgive
Speaker 2: the debt. What about all those kids and parents who
Speaker 2: paid off
Speaker 2: uh that that, you know, college tuition. So I think
Speaker 2: that they'll just keep on extending the
Speaker 2: repayment.
Speaker 2: Uh so, but this is a big issue in college,
Speaker 2: as I'll tell you that as well, it should because
Speaker 2: huge amounts to repay to be repaid, they don't want
Speaker 2: to pay it.
Speaker 1: Okay,
Speaker 1: what about on drug pricing? Uh
Speaker 2: there will be something on drug
Speaker 1: prices
Speaker 2: popular
Speaker 1: on both sides.
Speaker 2: Yes. And I would weekly believe that the democrats will
Speaker 2: have another reconciliation bill chip,
Speaker 2: and that's where it's going to include some of the
Speaker 2: energy provision that they want and have really been dealing
Speaker 2: with joe Manchin, the democrat from centrist democrat from west Virginia.
Speaker 2: And and and that's why all these letters are starting
Speaker 2: to come out uh through like last week urging uh
Speaker 2: the sustainable aviation fuel credit and things like that. So
Speaker 2: they're the lobbyists are gearing up
Speaker 2: for an eventual vote and and I really think I
Speaker 2: I see it coming, so called down payment on their
Speaker 2: on their new green deal.
Speaker 1: Okay,
Speaker 1: well, the infrastructure for the sustainable aviation fuel. We talked
Speaker 1: with Jordan's five from bioterror, jah about it last week.
Speaker 1: The colonial pipeline can already handle it and delivered I
Speaker 1: think to seven major airports on the east coast
Speaker 1: directly to them. The infrastructure is getting out in front
Speaker 1: of the supply.
Speaker 1: That's an amazing feat in the biofuels industry.
Speaker 2: Yes, I like when infrastructure is ahead. I really do.
Speaker 2: That's like out here in the east. My county loud
Speaker 2: and learned learned from Fairfax County that you build the
Speaker 2: schools and the off ramps and the roads before
Speaker 2: your population surges. And because we saw how Fairfax County
Speaker 2: didn't do it. Right. So I like infrastructure to be anticipatory.
Speaker 1: Yeah. Very cool, very cool. Okay.
Speaker 1: Okay. Uh there were two studies released last week, one
Speaker 1: from a group of ag economists, a distinguished
Speaker 2: group of ag
Speaker 1: economists and the second from texas A and M.
Speaker 1: The the consortium study that was released jim
Speaker 1: that it basically said that the cattle uh
Speaker 1: price discovery and market
Speaker 1: transparency act
Speaker 1: uh provides no benefit to cattle producers and will increase
Speaker 1: costs by hundreds of millions of dollars.
Speaker 2: The data if we wanted to go on the data.
Speaker 2: Now you can
Speaker 2: you know, this was a broad brush of Land Grant
Speaker 2: University ag economist, as you said the working group
Speaker 2: and then you have a very well respected uh analyst
Speaker 2: at texas A and m uh the ag policy, you know,
Speaker 2: people do an update based on the revised bill. And
Speaker 2: although they modified some of the impact of the initial legislation,
Speaker 2: it would have a draconian impact on southern producers. That
Speaker 2: was clear in the uh, in the analysis. So, again,
Speaker 2: I I know Grassley kind of poo poos, some of
Speaker 2: the stuff, but this is pretty, pretty rich academic peer
Speaker 2: peer group looking at this impact. So I just think,
Speaker 2: although I respect the senator from Iowa, he thinks that
Speaker 2: I think he's right by saying it will come out
Speaker 2: of the committee
Speaker 2: in a vote. I'm not quite so sure on the
Speaker 2: floor because look at all those southern senators
Speaker 2: who are gonna look at these bona fide reports and saying,
Speaker 2: do I want to support this?
Speaker 1: Right? And the report out of texas A and M.
Speaker 1: It really showed that if we're going to see a
Speaker 1: vast majority of the increase in cash negotiated trade would
Speaker 1: have to take place in the southern markets.
Speaker 1: We're doing plenty in the northern market. Um,
Speaker 1: and so that means,
Speaker 1: don't just think of it as more negotiated cash trade.
Speaker 1: Also think about it as less use of the ams,
Speaker 1: the alternative
Speaker 1: uh marketing arrangements that have become very popular
Speaker 1: with the producers, with the feed yard, with the with
Speaker 1: the packers in that southern market.
Speaker 1: And it's
Speaker 1: jim. This whole thing is one of the reasons that
Speaker 1: it really troubles me is why did this whole conversation
Speaker 1: get started? It got started because of the big four
Speaker 1: making big money while the feed yards we're making, we're
Speaker 1: losing big money.
Speaker 1: So that was a packer versus producer. It's now
Speaker 1: evolved or morphed into a northern cattle finisher versus southern
Speaker 1: cattle finisher.
Speaker 1: And you know, I hate those kinds of fractures in
Speaker 1: any kind
Speaker 1: of the industry. It
Speaker 1: it normally doesn't end well when you've got quantity
Speaker 1: fighting quality, you're in in this kind of a market,
Speaker 2: you hit the nail on the head and that's where
Speaker 2: mistakes can be made. So we're going to have to
Speaker 2: see before I forget. Gary Rasmussen student debt, the largest
Speaker 2: and increasing voting group has college debt. Not a question
Speaker 2: of if, but when
Speaker 2: you know, in theory, I agree with that. But it
Speaker 2: it uh,
Speaker 2: it would cost a huge amount of taxpayer money.
Speaker 1: Now. Did you see the follow up that he made?
Speaker 1: They're the
Speaker 2: main reason this group understands they will not see a
Speaker 2: nickel of Social Security.
Speaker 1: See, I used to think the same thing for me
Speaker 1: and the closer I get to it, the more I think, well,
Speaker 1: maybe maybe someday I am going to see at least
Speaker 1: some of us Social Security check.
Speaker 1: Do I have a chance.
Speaker 2: You I think so. You have a chance to see it,
Speaker 2: but
Speaker 1: you're not my daughter,
Speaker 2: you know, that's that's that, you know,
Speaker 1: Yeah,
Speaker 2: Jump ball, jump ball, you know, But again, on this issue,
Speaker 2: what does that signal give to people who are just
Speaker 2: now going to college, you know? Do they, how can
Speaker 2: with with a straight face, can they take out a
Speaker 2: loan to go to college if they're not going to,
Speaker 2: their heart says they're not going to repay it? I just,
Speaker 2: I don't,
Speaker 2: that's the, what we've broken down that system. Did that money,
Speaker 2: did they think they were not going to have to
Speaker 2: pay it?
Speaker 1: It's called skin in the game.
Speaker 2: You
Speaker 1: know, you've got to have ownership of that debt and
Speaker 1: if you've got ownership of the debt, then you've got
Speaker 1: ownership of your career and your responsibility to pay it back.
Speaker 2: That's
Speaker 1: how I see it.
Speaker 1: Um, okay, we're going to get the farm bill uh
Speaker 1: up and debate conversation really up and running in this
Speaker 1: on the Senate side by the end of the week
Speaker 2: because
Speaker 1: House is already there,
Speaker 2: uh contentious hearings and a number of occasions, but they're
Speaker 2: gonna have a field hearing and I always like field hearings.
Speaker 2: The first one is legitimately, it's where the Senate ag Chairwoman,
Speaker 2: Debbie stabenow resides in michigan and
Speaker 2: that will really begin the process. Chip. And, you know,
Speaker 2: you've got to look at the groups where we're going to,
Speaker 2: you know, be represented and things like that. But I'd
Speaker 2: much rather send it outside Washington to hear the grassroots
Speaker 2: uh approach.
Speaker 1: Yeah,
Speaker 1: okay, jim, we've only got a couple of minutes left here,
Speaker 1: you know what I like to do here at the end.
Speaker 1: Let's open it up to you kind of freestyling,
Speaker 1: what else are you really watching this week?
Speaker 2: Well the house appropriations hearings go through almost every day
Speaker 2: this week. And we're gonna hear from Secretary Vilsack, we're
Speaker 2: gonna hear from friday from E. P. A. Administrator michael Regan.
Speaker 2: So there's the opportunity for lawmakers to really cast a
Speaker 2: wide net on, on some key issues.
Speaker 2: I hope Vilsack is asked about whatever they're calling the whip.
Speaker 2: Plus now they changed the name
Speaker 2: Uh about the rollout for the 2020 and 2021 eligible
Speaker 2: crops because that continues to be an email I frequently get,
Speaker 2: but I always have to answer back. They said may
Speaker 2: and we're getting close to it. So hopefully we'll get
Speaker 2: an update, you know, from the ag secretary
Speaker 2: on that. Uh the other big issues, we have a
Speaker 2: Supreme Court ruling coming up on prayer in sports, you know,
Speaker 2: that'll be of note. Uh and you have uh some
Speaker 2: of the uh some good news is that they approved
Speaker 2: another michigan I think Plant for accelerated lightspeed Chip. That
Speaker 1: was that
Speaker 2: happened late friday.
Speaker 2: And you know, I noticed this on the weekend. I
Speaker 2: have time to go through all my emails.
Speaker 2: Uh you, you know, proposition 12, you know, last month
Speaker 2: the Supreme Court agreed to hear the case from the M. P. P. C.
Speaker 2: And and Farm bureau uh last week chips, Senators Dianne
Speaker 2: Feinstein democrat California Alex padilla democrat California cory booker, democrat
Speaker 2: New Jersey
Speaker 2: and Senate ag committee chairwoman Debbie stabenow from michigan all
Speaker 2: called on vilsack to support
Speaker 2: The Proposition 12 in the case.
Speaker 2: Now that's that caught my eye especially with stab in
Speaker 2: awe
Speaker 2: because the mainstream groups in agriculture are definitely on the
Speaker 2: opposite side of this. They know for reasons we've we've
Speaker 2: discussed
Speaker 2: that if if you allow that to go
Speaker 2: there's the template
Speaker 2: that activists strident groups are going to use against agriculture
Speaker 2: beyond
Speaker 2: the poultry and eggs which already face it and the
Speaker 2: pork industry, they'll have the template to come out after
Speaker 2: mainstream agriculture.
Speaker 1: Right right. Yeah. This is going to be a precedent
Speaker 1: setting case in so many ways that
Speaker 1: um it's very important that
Speaker 1: that animal agriculture get a fair shake on this one
Speaker 1: and and uh
Speaker 1: producers know how to best care for the animals that
Speaker 1: they've gotten their care.
Speaker 2: Yes. And we're going to see whether or not N. C. B. A.
Speaker 2: Comes out officially with the revised approach to this cash
Speaker 2: marketing so that that could surface any any day. Now
Speaker 1: another one that I'm going to be watching pretty close
Speaker 1: leo Brainard is going to be considered nomination to be
Speaker 1: vice chairman of the board of governors of the Federal Reserve.
Speaker 2: Yes I think that will eventually be approved. But you
Speaker 2: know we're seeing a lot of more targeted criticism of
Speaker 2: our Federal reserve. The economist. Their cover story
Speaker 2: was how the Fed failed. So uh they in order
Speaker 2: for them to get their uh soft landing, it's going
Speaker 2: to be extremely difficult and the confidence of our Fed
Speaker 2: is just not there at this particular time. Again. I
Speaker 2: I hate to see that chip.
Speaker 1: Okay.
Speaker 1: All right, jim. I think that's a wrap, isn't it? Alright.
Speaker 1: Don't forget this morning on agritalk Darren coptic president and
Speaker 1: ceo of the Egg retailers Association is going to give
Speaker 1: us some perspective on what the rail lines and union
Speaker 1: pacific is doing by restricting access to the rail lines
Speaker 1: and of course machinery Pete Greg Peterson
Speaker 1: will be on with an update of the used machinery.
Speaker 1: Markets go, cubs,
Speaker 1: go nats, can I get
Speaker 2: one?
Speaker 1: Oh go cards going back to the old days. Have
Speaker 1: a great week. Everybody keep watching for those signals.