Feb 7, 2012
(Wall Street Journal)
By Liam Pleven and Tom McGinty

Farmers and analysts are expressing fresh skepticism about Agriculture Department data on the corn market in the wake of the latest figures, which stunned traders and sent prices on another wild ride.

A high-ranking USDA official last week faced sharp questions at an agriculture forum in Chicago over government estimates of how much corn is stockpiled around the U.S. and how much is being grown in the fields.

Farmers and traders rely on USDA data to help determine the price of corn, the nation's largest crop and a vital driver of the rural economy. The figures are also closely watched world-wide, because the U.S. is by far the largest corn exporter, growing about 36% of the world's corn last year. Unexpected changes in the data can also add to market volatility, making it harder for farmers to hedge their production and plan for the future.

"The level of frustration with the government reports is very high," said Dan Cekander, director of grain research at futures broker NewEdge USA LLC, who sat on a panel at the forum with the official, Joseph Prusacki.

The panel came three weeks after the latest USDA figures indicated there was more corn available than traders expected, sending futures prices plummeting by the maximum daily amount allowed by the Chicago Board of Trade. But subsequent price moves hint at skepticism in the markets. Days after the January report, futures prices started bouncing back and now sit at nearly the same level as before. In one sign of the skepticism, Illinois farmer Aaron Phipps asked panelists at last week's forum whether people who buy and sell corn might eventually start ignoring the USDA's conclusions.

"I just wonder how much longer the market's going to believe them," Mr. Phipps, who grows corn and soybeans on about 2,100 acres in Chrisman, Ill., said in an interview. "The surprise factor after every report, that's going to wear thin."

In an interview, Mr. Prusacki stood by the government data and described the critics' views as "just difference of opinion." Asked whether the USDA figures might become less relevant, he said, "I hope not."

The Wall Street Journal reported in December that monthly USDA forecasts of how much corn the nation would produce were off the mark in 2009 and 2010 to a greater degree than in any other two consecutive years since the 1990s. The production forecasts released in the heart of the 2011 growing season also appear to have been off-base.

Periodic stockpile reports have also sparked controversy. On Sept. 30, Mr. Prusacki's arm of the USDA, the National Agricultural Statistics Service, where he heads the statistics division, said a quarterly survey showed corn stockpiles were 23% higher than another USDA wing had estimated earlier that month.

USDA officials say unpredictable weather has significantly altered crop prospects in recent years, driving changes in estimated production. They also say the data are subject to change based on fresh information.

The estimates are under particular scrutiny now because supplies have recently hovered near the lowest levels in years, in terms of days of use. That has helped fuel a long rally that has seen prices roughly double since early 2010, settling Friday at $6.445 a bushel.

Last year, corn hit an all-time high of nearly $8 a bushel. Despite the doubts, USDA figures are still considered the most accurate domestic data. The rapid rise of the ethanol industry in the past decade has also changed the market in ways that still aren't fully understood, observers say. And investors have piled into commodities in recent years, adding another new variable.

Friday's panel, titled "USDA Reports—What's Going On Here," was meant to address the controversy. The forum was organized by Farm Journal Media, which publishes agriculture magazines and newsletters, and more than 800 farmers were registered to attend.

To compile data on corn stockpiles and expected production, Mr. Prusacki's service surveys thousands of farmers and corn consumers and sends counters into fields around the country at pivotal points in the growing season. Another USDA agency, the World Agricultural Outlook Board, also plays a central role in the estimates. A spokeswoman for the board declined comment.

The reliance on information that market participants themselves provide fuels questions about its reliability. "Joe will tell you the elevator numbers are accurate," said Peter Meyer, a former Wall Street analyst and frequent critic of USDA data, who also joined Mr. Prusacki on the panel. He was referring to figures on how much corn is stored at grain elevators.

But elevator operators can't always distinguish between corn left over from the prior year and corn that's just been harvested, Mr. Meyer said—a distinction that is important in forecasting supplies.

Gathering accurate data is "an impossible job," Mr. Meyer said.

Mr. Prusacki told the audience USDA staff examine the data they receive, looking for "deviations from what's expected" in figures that farmers and others report. "We'll call them back and say what's going on here," he said.

In an interview afterward, he said it was important to hear what the doubters say. "I have to understand," he said. "I can learn from them."

Steve Pitstick, who grows corn and soybeans in Maple Park, Ill., said in an interview that local prices for corn in his area suggest supplies are tighter than the USDA indicated. "At the end of the day, are they right or are they wrong?" said Mr. Pitstick, who attended the forum. "We'll find out."
Inaugural Meeting, Facilitated by Pfizer Animal Health, Offers Collaboration on Advancement of Initiatives Pivotal to Development of the Veterinary Profession

MADISON, N.J. — Feb. 6, 2012 — Five prominent Colleges of Veterinary Medicine located in the Western U.S. recently convened to create the Consortium of Western Regional Colleges of Veterinary Medicine. The Consortium was formed to collaborate in the advancement of initiatives critical to the future of the veterinary profession.

To ensure actions are put in place to address these priorities, representatives from each of the colleges created a regional think-tank with a commitment to action and mutual collaboration. Representatives, including the deans from Colorado State University, Oregon State University, Western University of Health Sciences, Washington State University and University of California at Davis, met in San Francisco this past October and created the Consortium to pursue set objectives.

The inaugural meeting of the Consortium was funded and facilitated by Pfizer Animal Health as part of the company’s Commitment to Veterinarians™ platform—which offers support through training and education, research and development, investing in the future of the veterinary profession, and philanthropy.

The Consortium collaborated on the following topics outlined as top priorities in veterinary medicine:

·         Gaps between selected career tracks among veterinarians and societal needs

·         Targeted recruiting and professional readiness among graduating veterinarians

·         Learning and application of soft skills to keep veterinarians at the center of healthcare

·         Identifying and devising ways for academic institutions to share resources and create Centers of Excellence

·         The importance of strong and continued faculty development to promote rich and innovative learning environments

“The first meeting of the Consortium of Western Regional Colleges of Veterinary Medicine was tremendously productive; the concept behind the group and the identified areas of potential collaboration align closely with strategic priorities of the veterinary profession, as well as with short- and long-term goals of the institutions, with a focus on creating better-prepared graduates, developing faculty and modeling collaboration,” said Vanessa Mariani, Director of Academic & Professional Affairs for Pfizer Animal Health. “We are fully committed to continued engagement with the Consortium in support of securing a strong, relevant future for the profession.”

An important achievement during the inaugural meeting of the Consortium was the development of a rubric for collaboration, which will be used to develop and implement shared strategies. Unanimous agreement was reached to start working immediately on the topic of faculty development by creating a regional teaching academy. Plans are being developed for Consortium members to reconvene in the near future to work out the details of this initial collaborative project.
The President’s Medal, Holstein UK’s premier award for Holstein Young Breeders (HYB), has been won by Owain Harries from South Wales. It was presented by Jimmy Hull, Holstein UK President 2011/2012 and Stuart MacLennan of national HYB sponsor Genus ABS.

Owain currently works for the Visions team at Cogent Breeding in the role of Sire Procurement where he is responsible for selecting bulls for the stud. Before this, he studied Animal Science at Harper Adams and then returned home to his family’s Eola herd of pedigree Holsteins at Crosshands near Llanelli in Carmarthenshire. He is an active member of Holstein South Wales HYB and is currently Chairman. He has represented the Club at a number of national events, the highlight being winning the Senior Reason Giving at 2011 Weekend Rally.    

Owain’s prize will be a two-week trip to inspect the Cornerstone Breeding programme run by Genus ABS in the USA.

The two other finalists were Rachel Richardson from Yorkshire and Andrew Smith from Shropshire. The top three were whittled down from a number of nominations and six candidates were selected for interview at Scotsbridge House in December. The final three attended the British Cattle Breeders Club Conference at Telford where Owain was announced as the winner.
CLEMONS, David Henry - With deep sadness, the family of David Henry Clemons announces his tragic, sudden passing at his home on Saturday, February 4, 2012 at 70 years of age. Predeceased by his parents George and Helen Clemons (nee Henry). Beloved husband of Patricia (nee McMahon). Much loved father of Gregory (Donna), Abbotsford, B.C., Jeffrey, Kingston and Janine (New Zealand). Caring step-father of Robert Williams, California, James Williams and Suzanne Williams, England. Proud grandfather of Ethan, Elena and Matilda Dear brother of Nora Fueten (Horst) and the late Ketha McLaren (Duncan). Also missed by nieces and nephews Frank, Louise, Mary and Angus. David had a long and successful business career. He had been a Trade Commissioner to Trinidad and Germany, and C.E.O. of Holstein Canada until 1993. He later worked as European representative for Destron- Fearing and was C.E.O. for the Egg Marketing Agency and worked to develop mega-Nutrel. David was an avid cyclist, swimmer and conservationist.

The family will receive friends at McCLEISTER FUNERAL HOME, 495 Park Rd. N., Brantford for a memorial visitation on Friday, February 10, 2012 from 2 - 4 and 7 - 9 p.m. Cremation has taken place. The Funeral Service to honour David's life will be at ST. ANDREW'S UNITED CHURCH, 95 Darling St., Brantford on Saturday, Feb. 11 at 11:00 a.m. If wished, memorial donations to your favourite charity would be gratefully appreciated.
Lyle Martin
Friday, January 19th, 1945 - Sunday, February 5th, 2012

Obituary:

Lyle Martin ~ At Listowel Memorial Hospital on Sunday, February 5, 2012, Mr. Lyle Grant Martin of R.R. 3, Brussels near Ethel, in his 68th year.

Beloved husband of Barbara (Weber) Martin. Father of Grant and Pam Martin of Ethel, and Wanda and Jeremy Heibein of R.R. 2, Listowel. Grandfather of Todd, Neil, Adam, and Graham.

Brother of Glennis and Maurice Koenig of Wellesley, Claude and Lynne Martin of Hawkesville, Jim Martin and his friend Helen of Linwood, Joyce and Cliff Freeman of Elmira, and Doreen and Ken Martin of St. Jacobs.

Son-in-law of Ruby Weber of Glen Allan, and brother-in-law of David and Wendy Weber of Milverton, Glen and Bonnie Weber of Elmira, John and Ellen Weber, and Richard Weber, all of Glen Allan, and Mary Lou Weber of Drayton.

Predeceased by his parents Orville and Almeda (Eby) Martin, father-in-law Vernon Weber, sister-in-law Cathy Weber, and by his grandson Ross.

Lyle was very active in the dairy industry. He combined his faith and his work, and was a spiritual influence on many of the lives that he touched.

Visitation will be held at the Eaton Funeral Home, Listowel on Wednesday from 2:00 to 4:00 and 7:00 to 9:00 p.m. The funeral service will be held at Listowel Mennonite Church on Thursday, February 9th at 11:00 a.m.

Interment in Mount Pleasant Cemetery, Ethel.

Memorial donations to Mennonite Central Committee would be appreciated, to honour the MCC heifer sale which Lyle was always a great supporter of.

Funeral Home:
Eaton Funeral Home
385 Main St. W.
Listowel, Ontario, CANADA
N4W 1A4
Registration is now available for the 2012 Holstein Association USA Judges Conference, slated for April 15, in Syracuse, N.Y., in conjunction with the New York Spring Dairy Carousel. Running from 9:00 a.m. to 4:00 p.m., the conference will include placing heifer and cow classes, as well as classroom discussion time. Holstein Association USA Judges Conferences are open to anyone 22 years of age or older who is interested in judging U.S. Holstein shows and/or applying to be included on a Holstein Association USA Judges List, including international judges.

The fee to attend is $50 for pre-registrants and $100 for late registrants. Pre-registration closes April 1, 2012, and is now available online at www.holsteinusa.com/shows/judges_preregister.html. Online registrants may pay with a credit card through a secure online payment site. Late registration will be accepted from April 2, 2012, until the morning of the conference. Walk-ups may pay the $100 late registration fee by cash or check at the door, however, pre-registration is strongly encouraged. Tentative plans have been made for future conferences, including two in 2013, in California and Wisconsin, one in Ohio in 2014, and one in Utah in 2015.

A block of rooms has been reserved at the Inn at the Fairgrounds, 670 State Fair Blvd, Syracuse, N.Y., 13209. To make a reservation, call 315.484.0044, and ask for the "Holstein USA" block to receive a $79 per night rate. The cut-off date for the room block is March 31, 2012.

All individuals currently on the Holstein Association USA National or Qualified Judges Lists, or those planning to apply for the lists in the future must have attended and receive a “satisfactory” rating at a Holstein Association USA Judges Conference within a three year period to be eligible. All National Holstein Shows are required to choose their judge from the National Judges List. Nationally-sanctioned Junior Holstein Show Judges and National Holstein Show associate judges must be selected from either the National or Qualified Lists. Applications for the Judges Lists are available on the Holstein Association USA web site, and are due August 1, 2012 for the 2013 lists.

More details about the conferences can be found at www.holsteinusa.com/shows/judges.html, under the Judges Conferences tab. With questions, contact Jodi Hoynoski at 800.952.5200, ext. 4261, or jhoynoski@holstein.com.
It was a great early February weekend in Wisconsin as Heatherstone Enterprises classified in Baraboo!  Highlights from the day include a new 94-point cow, Cowtown Champion Stalic, who's now 2E-94.  Other multiple "E" cows are Crystal-Oak Paige Bean (2E-93), Heatherstone Bonivant (2E-92), Heatherstone Jaygee (2E-91) and Heatherstone Black Magic (2E-90).  Three new Excellent cows form the day were Heatherstone Bella Sera (by Pontiac), Heatherstone Memorial (by Damion) and Reinecke-Hol Dalina (also by Damion). There were nine new VG 2-year-olds, including a homebred favorite sired by Dundee, Heatherstone Dolce (VG-88).  Congratulations to the Holschbach family!
Click here to visit our Proofs & Summaries page and view the brand new list of Top 200 New Genomic Females for February 2012!
WHAT:     Join Alltech at World Ag Expo for a virtual farm tour highlighting the Tony DeGroot Dairy of Hanford, Calif. The focus topic will be the farm’s nutrition management, including their use of DEMPTM.

WHEN:     Tuesday, February 14 at 12:00 p.m.

WHERE:     The virtual tour will take place in the Seminar Center off of Elk Bayou Rd. between R Street and S Street.

MORE:    On Wednesday, February 15, producers are encouraged to join Alltech at a luncheon in the tent on S & Elk Bayou. Lunch will be served to attendees during a roundtable discussion that will focus on the Alltech Dairy Advantage. This is a program that addresses dairy challenges in farm operations.

Alltech’s booth location is 6103 within the Dairy Center. Visit Alltech’s booth for a chance to win an iPad and learn more about the Alltech Dairy Advantage.