Ag Headlines, Wednesday October 14, 2015

Corn Harvest on Schedule

The recent crop progress reports by USDA indicate that the nation’s corn harvest is progressing nearly exactly on schedule. With 42 percent of the crop was harvested as of Sunday, ranging from 88 percent of the North Carolina crop to 15 percent of Colorado's and North Dakota's, total progress came within one percentage point of the five-year average. National Corn Growers President Chip Bowling said “despite difficulties with early season flooding, the overall crop is on track to have the second-highest national average yield on record.” Over the same period, estimates of the crop condition remained stable with 68 percent of the crop in good or excellent condition. At this time last year, 74 percent of the crop fell within this range.

Kubota produces 1-millionth unit since 1994 at Georgia Facility

Kubota this week has produced its 1-millionth wheeled unit made at its Gainesville, Georgia facility since 1994. Chief Manufacturing Officer Brian Arnold said that while it took 21 years to reach the mark, “it will only take us seven years to reach the next million units.” In 1988, Kubota Manufacturing of America was born when the first Kubota factory opened in Gainesville, Georgia. This would become one of four, soon to be five, plants in the state. The Gainesville plant initially employed 44 workers and focused on the production of tractor implements, specifically backhoes and front loaders. Kubota has 2,300 employees at its Georgia manufacturing plants and this number will likely grow as workers are hired to staff the new RTV plant.

Meat Substitute market Poised for Increase

The global meat substitute market is predicted to rise by 7.5 percent over the next seven years. The growth will be the expected result of rising health awareness and shifting dietary preferences in diets, according to a report from Hexa Research. Meatingplace reports The California-based market research firm said the market should reach $5.8 billion by the year 2022, higher than the $3.3 billion posted in 2014, with Europe continuing as the leading regional market for meat substitutes. Textured vegetable protein has emerged as the leading product segment for meat substitutes, making up nearly 44 percent of the total market revenue in 2014. Soy was the major raw material used to produce meat substitute products, accounting for 80 percent of the total market revenue last year. The report notes that recent animal disease outbreaks and a growing number of several lifestyle-induced diseases like obesity and diabetes should also lead to increase in the meat substitute market in the coming years.

NAFB News