World Perspectives
livestock

Cattle on Feed; Restaurants Not Feeding; Slaughter Bottlenecks

USDA released its cattle on feed report today; as expected placements were down dramatically to 1.56 million head, the lowest total for March on record. Total inventory was down to 11.3 million head compared to 11.8 million head on 1 March. In the larger picture, the two big factors are the slowdown in slaughter capacity and the cataclysmic drop in food service demand. See Matt Herrington’s article regarding WPI’s latest update on packing capacity. The United Food and Commercial Workers (UFCW) union has reported that at least 5,000 meatpacking workers and 1,500 food processing workers have been “directly impacted” by the virus, as defined by:  1) testing positive; or  2) missing work due to self-quaranti...

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Market Commentary: Limping Home After a Dreary Week

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Summary of Futures

Dec 25 Corn closed at $4.19/bushel, down $0.0275 from yesterday's close.  Dec 25 Wheat closed at $5.1525/bushel, up $0.005 from yesterday's close.  Nov 25 Soybeans closed at $10.18/bushel, down $0.0575 from yesterday's close.  Dec 25 Soymeal closed at $278.6/short ton, down $0.7...

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

Market Commentary: Limping Home After a Dreary Week

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feed-grains soy-oilseeds wheat

Summary of Futures

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Competing Manufacturing Data

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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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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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