Fox Business
Expand
Browse All Video
Watch Live

You're watching...

USDA to Buy $170M of Meat, Poultry and Catfish

Details

  • Description

    Oklahoma Farm Bureau President Mike Spradling on the drought’s impact on farmers.

  • Duration 4:31
  • Date

Clips

Also in this playlist...

Money With Melissa Francis

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Obama out today trying to offer relief in the wake of the drought that has devastated nearly two thirds of our country's crops.

With the farm bill -- in congress the president was in Missouri valley Iowa today where he announced.

That the government is buying 170.

Million dollars worth of meat poultry.

And even catfish to train ease the pain for farmers does your tax dollars at work by the way with me now -- -- President of the Oklahoma farm bureau thanks for coming on -- tell me.

What's your reaction what the president did today does that help how much -- -- help -- -- what what would you say about it.

We'll certainly anything would help -- you know that we decreased the amount of let's apply this out there because our products is a product -- the prices product of supply and demand.

And so we have to dump a lot of the the livestock on the market.

Because of the -- because there's no water no sponsors -- feed -- in the and the audience for the for the life started a drought.

There's certainly that's going to be to have the prices -- -- certainly if we can take some of those slots up off the market that will help the the price to the American farmer.

Considerably but the problem is will be enough and will be in time.

Yeah and we were just talking before you -- -- you probably heard about F and on the ethanol mandate right now if that was temporarily removed without help.

Cattle -- -- and and everyone else out there.

Well certainly it would help on on that the corn corn is a product an ingredient of one other livestock feeds.

And that there are a lot of other sources.

-- -- -- -- -- -- ethanol can be produced -- And I'm talking only about emergency issue because certainly those corn growers you know -- be a lot invested in in their crops.

And a lot of that goes on behalf -- more goes to ethanol production.

And so we certainly don't want -- they're they're industry and what they've gotten to points.

But you know we could shift in times of emergency when they have -- -- -- as we have now.

We could shifts some of that over to back to peace and find other ways to you make the supply and demand they ethanol product.

You know we went back and we comb through the US department of agriculture's records to try and find another time when a president has spent this many tax dollars -- 170 million dollars.

Buying up food in order to help.

The industry I mean we found in 2008 spending fifty million on our products we didn't really find something else of this magnitude.

Do you feel at all like -- boats are being bought right now as we head up to this presidential season.

-- others election out there and there's things have been done you know to try to do.

Persuade people influence people especially the farmers -- this country -- what we really need we need the 2012 farm bill.

These patches that we're doing right now on this 170 million dollars and and purchased that it is really a -- what we need is the president to get behind.

The administration needs to get behind and get -- 2000 farm bill.

Past and I what is -- that's that's essential to your during this drought tolerant what is in car.

I'm sorry what is in the farm bill that is essential to you right now in -- -- time what is it that you're looking at there that is a long term -- that you really.

Well courses.

So there's a lot of the the -- -- -- to disaster programs and everything's built into the farm.

Farm bill but what -- the -- up -- -- -- -- -- nutrition.

Over 75% -- they farm bill of the budget actually goes to nutrition -- the food stamp program the school lunch programs and things of that nature.

Only only around 15% noted that commodity program and the other there's fifteen -- stolen farm bill.

And the other thirteen share that -- other percentages there.

But we need to get in what's being held up on the farm Hillary's we're not getting right now is that on the house side we've got the senate does -- -- would get the house.

This past admit there's a difference in the nutrition pets American farmers -- ranchers are willing to take it that in order to help balance -- budget.

But it needs to -- we're spread across all agencies.

But they they get a house whereas I cutting -- food stamps where you're also seeing the costs that it's nutrition bill that the house side would like to cut around 35 billion dollars -- set -- 23 billion.

-- course there's what the whole look this you know a lot of that is does -- have anything -- election possibly.

Because again if you if the president and administration cuts.

That's -- attrition program and that's don't affect certainly a lot of people that may end up going to the polls yeah.

But again we need to we need to that fix would be to go ahead and come from both sides to come together and get the 2012.

Farm bill passed -- Bradley thanks so much for coming on tonight.

Load More