The March data for beef exports at 256.108 million pounds showed a drop in volume of 10.4 percent from March 2023, but posted the highest volume of Q1. Export value was down 0.3 percent, or effectively flat, from 2023, but was the highest in nine months. For Q1 2024, volume was 311,865 MT, down 4 percent, with value up 6 percent. That was to be expected given limited supplies and higher prices from U.S. beef. Beef imports in March were 340.795 million pounds, up 10.55 percent year-over-year, but the smallest for Q1. That is mostly due to the front loading of the “Other Countries” open beef quota (mostly filled by Brazil), which saw shipments into the U.S. hit 503.636 million pounds in January and 351.118 million pounds in...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
From WPI Consulting
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.