World Perspectives
livestock

Cattle on Feed: Placements Higher than Expectations

USDA released its Cattle on Feed report today, conforming with pre-report expectations. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 12 million head, the same as 1 January 2020 inventory.      December placements were above the pre-report average guess and the number of long fed cattle is increasing. Net placements in December were 1.785 million head, and therefore, the number of cattle on feed for more than 120 days is caclulated to be 4.1 million head, up from 3.89 million head. The number of cattle on feed for 150 days or more is calculated to be 2.1 million head, up from 2.05 million head last month.  December placements trended toward a mix of slightly heavier cattle compared t...

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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...

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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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