World Perspectives
livestock

Cattle Expansion Nearing Peak

USDA released its Cattle Inventory report today, approximately a month late due to the government shutdown. This follows last Friday’s delayed release of the Cattle on Feed report, which didn’t have much impact on prices. While the data was not timely, it still sheds some light on the markets, especially when the two reports are viewed together. The total number of cattle on feed as of 1 January was 11.7 million head or 102 percent of the year prior. Indeed, there are many tea leaves to read in this report about how close the peak of cattle expansion may be. While the increase was relatively small, the comparative feedlot inventory of January 2018 was large at 11.5 million head and significantly higher than the 10.6 million hea...

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Summary of Futures

Mar 26 Corn closed at $4.445/bushel, up $0.04 from yesterday's close.  Mar 26 Wheat closed at $5.0775/bushel, up $0.015 from yesterday's close.  Jan 26 Soybeans closed at $10.5225/bushel, down $0.06 from yesterday's close.  Jan 26 Soymeal closed at $298.4/short ton, up $0.2 from...

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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.

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