Macroeconomics Food Prices Fall in February Due to Sharp Drop in the Cost of Pork Compared with February 2020 when China’s nationwide quarantine was in full swing, this past month’s food prices were down .2 percent on an annual basis. This marks the first time since last November that the average cost of food was down year-on-year. While pig supplies remain uncertain, the price of pork declined at a brisk rate during last month’s holiday period. The average retail price fell by 14.9 percent from a year ago. The decrease was offset by increases in other food items, including eggs, fresh fruit, fresh vegetables, cooking oil, and dairy products, which rose by 3 percent, 3.1 percent, 3.3 percent, 6.2 percent, and 1.2 percent...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.