A Chinese trading company was found last week to have illegally imported more than 6,000 MT of frozen meat worth about 345 million yuan ($55.6 million). This may be the largest seizure of smuggled frozen meat in China's history. Oilseeds Soymeal Inventories Continue to Drop The major crushers' estimated soymeal inventories decreased to just over 1 MMT last week, declines of 12.65 percent from the week prior and 51.9 percent compared with the same period last year. Among the surveyed regions, the inventories increased from the previous week in both Shandong Province and the northeast by 31.43 percent and 32.43 percent to 100,000 MT and 86,200 MT, respectively. In stark contrast, those in northern China fell 63.08 percent to 39,500 MT comp...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.