Macroeconomics Food Inflation Falls Below 15 Percent in April Average food prices for April increased year-on-year by 14.8 percent, down from 18.3 percent for March. This marks the smallest rise in food prices in the past seven months. Pork prices continued to be the primary driver of rising food costs, as the average was up by 96.9 percent compared with April 2019. However, on a monthly basis, the pork prices have continued to contract. By comparison, they were up by 116.4 percent year-on-year in March. Other foodstuffs continuing to see increases in April included cooking oil and milk, which rose by 5.6 percent and .9 percent, respectively, compared with a year ago. In contrast, the average prices for fresh vegetables, fresh frui...
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
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.