U.S. FARMERS ARE MORE OPTIMISTIC THAN EVER, BAROMETER SHOWS

THE JANUARY SENTIMENT RISES ABOVE ALL PREVIOUS READINGS.

U.S. farmers feel even more confident about the U.S. agriculture economy, according to the latest reading of the Ag Economy Barometer.

The January results marked the third consecutive month the barometer moved higher.

The Purdue/CME Group Ag Economy Barometer—based on a monthly survey of 400 agricultural producers from across the U.S.—reached 153 in January 2017, 21 points higher than December’s survey and 61 points higher than in October.

Ag producers’ sentiment in January was not only the most positive recorded in the Ag Economy Barometer’s history, but it was also the biggest month-to-month sentiment change since data collection began in October 2015, according to a press release Tuesday.

The largest contributor to the sharp uptick in optimism since October has been producers’ increasingly favorable expectations regarding the future, the report stated.

This was again the case in January as the Index of Future Expectations reached 169—23 points higher than a month earlier. But it’s worth noting that producers’ optimism was also supported by a perceived improvement in current agricultural sector conditions as the measure of producers’ current sentiment—the Index of Current Conditions—rose during January to a reading of 118, up from 102 in December 2016, according to the CME Group/Purdue University announcement Tuesday.

Some of the improvement in producers’ perceptions of current conditions was motivated by improvements in commodity prices. Prices for key commodities, including soybeans, cattle and hogs, were increasing during much of the fall.

For example, from mid-October to mid-January futures prices for CME February lean hogs increased over 30 percent, while CME February live cattle futures prices rose over 20 percent and CBOT March soybean futures prices increased more than 10 percent.

The improvement in producers’ perceptions of current economic conditions is tempered by the fact that in January a majority (58 percent) of respondents indicated that their farm operations’ financial conditions were worse than a year ago, according to the press release.

Although producer responses to this question have improved markedly since August, when 81 percent of respondents felt their farms were in worse financial condition than a year earlier, it still indicates financial conditions have been worsening on most farms, the report stated.

When asked to look ahead 12 months, the shift in optimism about the future among producers since October is apparent. In October, just 17 percent of producers expected conditions to improve in the year ahead. By January, 39 percent of respondents expected their farms’ financial conditions to improve in the year ahead, which was the most positive response provided by producers to this question since the inception of the monthly Ag Economy Barometer surveys in 2015, according to the CME Group/Purdue University press release.

PRICE EXPECTATIONS

The report stated that a key driver of producers’ future expectations is usually their perspective on commodity prices. However, it’s not clear that the recent uptick in producer sentiment is being motivated by expectations for stronger commodity prices in the future.

When asked about corn, soybean, wheat and cotton prices 12 months ahead (January 2018), the percentage of producers expecting higher prices was, with the exception of wheat, only slightly higher than in October. There was, however, a notable difference in wheat prices expectations from October to January as one-third of respondents expected higher prices on the January survey compared to just over 20 percent in October, according to Tuesday's press release.

Producers were also asked targeted questions about corn and soybean price expectations. Specifically, producers were asked if they believed new-crop corn and soybean futures prices would exceed or fall below given price points between January and fall 2017. The price points selected represented new futures contract lows or highs.

For corn, essentially the same proportion of farmers thought new contract highs (38 percent) and new contract lows (39 percent) were possible.

When asked about soybean prices, a larger share (44 percent) of respondents thought new contract highs were possible while only 35 percent expected to see the November 2017 contract establish a new low, according to the CME Group/Purdue University report.

Bayelsa Govt donates 1,200 hectare of land to herdsmen

As part of efforts to prevent the invasion of farmlands, Bayelsa state Government has donated 1,200 hectares of land to cattle herdsmen.

State Chairman, Cattle Ranches Management and Control Committee, Shitu Mohammed, who disclosed this during an interactive session with herdsmen, butchers, farmers and security agencies informed that the 1,200 hectares of land was for ranch development, grazing and slaughtering of cattle.

Mohammed said the committee was set up by the state government to foster cordial relationship between the cattle rearers, farmers and the people.

Mohammed said that more ranches would be donated to the cattle rearers to maintain peace and order in the state.

Lauding the efforts of the state government, the chairman expressed confidence that the gesture would help to sustain the lasting peace that had existed between herdsmen and farmers in the state.

He however called the citizens to appreciate the provision of the ranch as it will create job opportunities and boost tourism in the state.

Federal Government moves to boost Fish Sector

The Federal Government has expressed readiness and commitment to boost the Fish Sector in the Agricultural Value Chain Programme.

Minister of State for Agriculture, Heineken Lokpobiri disclosed this  when he received the Secretary General, Fisheries Committee for the West and Central Gulf of Guiana, His Excellency Seraphim Dedi in his Office in Abuja recently.

According to the minister, the initiative was aimed at achieving the diversification of the economy and to promote home grown food production, self-sufficiency and food security programs of the federal government.

According to Lokpobiri “with the present reality of non-oil economy, agriculture must take its rightful place to grow the economy, and fishery is a huge market that will contribute to grow our economy”.

He noted that the Government has significantly tackled the cases of illegal and unregistered fishing companies and this has in turn led to the quality and quantity of fish production and security, youth employment as well as increased wealth generation and improved standard of living of citizens.

Lokpobiri also assured Nigeria’s readiness to host the 10th Conference of Ministers of the Fisheries Committee for the West Central Gulf of Guinea (FCWC) in Abuja Nigeria and hoped to have Mr. President declare it open.

Speaking on the visit, Secretary General of FCWC, His Excellency Seraphim Dedi explained that it was for introduction, stressing  the Nigeria strategic role in helping to achieve the committee’s objectives.

“This visit is to  introduce the committee and emphasize Nigerian’s Strategic place in galvanizing the committee’s strategic role in achieving the committee’s mandate and to also outline its place in the  global fishing component”, he expressed.

The health benefits of Garlic you should know about

Garlic is one of the most common ingredients in Nigerian  dishes but apart from its  flavour and aroma in  foods, this vegetable bulb also has amazing  health benefits.

Garlic has been in use since time immemorial to treat various ailments, garlic is one ingredient in your kitchen that has a number of uses.

Here are some health benefits of garlic you should know about.

• Garlic helps keep bacterial and viral infections at bay due to its innate compounds
• Since it has both antibacterial and antiviral properties, garlic is great when it comes to treating skin infections.
• It helps prevent the formation of clots in the body through it anti-clotting properties of ajoene
• Can keep your blood pressure  levels in check.
• It also helps protect the heart from the damaging effects of free oxygen radicals.
• The allicin present in garlic helps moderately lower our blood triglycerides and total cholesterol
• Garlic increases insulin release and regulates blood sugar levels in your body, especially if you are a diabetic.
• Diallyl sulphides present in garlic increase the production of ferroportin (a protein that helps in the absorption and release of iron which helps beats beat iron deficiency and
• It can help relieve toothaches due to its antibacterial and analgesic properties.
• According to recent research, garlic may help to regulate the formation of fat cells in our body.

IBB UNIVERSITY BEGINS PRODUCTION OF CASHEW JUICE

Ibrahim Badamasi Babangida University, Lapai in Niger State has commenced production of Cashew Juice, an official of the university said on Wednesday.

Prof. Mohammed Yakubu, Deputy Vice Chancellor of the institution told the News Agency Nigeria (NAN) in Lapai that the institution have a small plant for the production under the Department of Food Science and Technology.

“What actually led us into the production is that cashew is a predominant fruit here and during the harvest season about 60 percent of the fruit get rotten and waste away.

“As a result of a good number of it wasting away, we decided to harness it using our Department of Food Science and Technology,” he said.

Yakubu said that the university plans to commercialize the cashew juice production, by exploring markets in Abuja, Minna, Kano, Kogi and Nasarawa.

The deputy vice chancellor believed that the initiative would raise the university’s revenue, and help engage the youths in the juice processing. (NAN)