The May jobs data came out; there was an increase in private payrolls of 559,000 jobs. At any other time, other than post COVID era, that would be bullish news for the economy and the equities market. Instead, it was bearish. The expectation was 675,000 jobs, and we are still 7.6 million jobs down from where the economy was pre-COVID. There’s much discussion about federal unemployment benefits whether they are creating a hurdle to hiring. The math is simple: compared to the last pre-pandemic month, February 2020, average hourly earnings are up 6.4 percent; total hours worked are down 3.6 percent. Agriculture is seeing an impact across the board with meat and poultry plant workers, transportation, loading dock and warehou...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.