World Perspectives
livestock

Bearish Cattle on Feed Report

USDA released its Cattle on Feed report today and the inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.4 million head, that is 104 percent of 1 September 2019 and above pre-report expectations.  It is a record large 1 September inventory dating back to 1996 when records began. Marketings came in as expected and placements were well above the pre-report average, and near the very top of the range of expectations. This is in line with August slaughter data which shows beef production at 2.33 billion pounds based on 2.8 million head sluaghtered (96 percent of last year) and liveweights at 1,365, which was 27 pounds heavier (102 percent) of last year. Beef demand remains an unknown variable moving into Q4 202...

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Market Commentary: Limping Home After a Dreary Week

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Competing Manufacturing Data

According to S&P Global, the US manufacturing sector grew for the fourth consecutive month in September. The U.S. manufacturing purchasing managers' index recorded 52 points in September, down from 53 a month prior and indicating a weaker rate of expansion of the manufacturing sector. A rea...

feed-grains soy-oilseeds wheat

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Summary of Futures

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feed-grains soy-oilseeds wheat

Recent Market Volatility Increases Futures Mispricing

Following the recent shocks to the grain markets – the Grain Stocks report data and news that soybeans will be on the negotiating table when Presidents Trump and Xi meet next – many are wondering what happens next as far as commodity pricing goes. WPI certainly doesn’t have a...

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Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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