World Perspectives
livestock

Cattle Inventory Report Preview

USDA will release its semi-annual Cattle Inventory report on Monday estimating the herd size for all cattle and calves as of 1 January 2022. Pre-report expectations are that the cattle inventory will be 99 percent of last year, implying 92.5 million head – the smallest since 2017 and above the 2016 total of just under 92 million.  The calf crop is estimated to be 99 percent of last year’s report. Based on the pre-report estimates, 2022 looks to be the third straight year of a declining cattle herd, and given the expected cow and replacement heifer estimates, that streak will continue into 2023 and maybe into 2024. As we noted last week, beef cow slaughter in 2021 had its largest annual growth by percent since 2017 and wa...

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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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Recent Market Volatility Increases Futures Mispricing

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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