If Henan Province serves as an indicator for China, there should be significant changes in planted corn acreage this year and next as well as in the planted areas for other food-related commodities. Oilseeds Soymeal Inventories Fall As of 24 June, China’s estimated soymeal inventories totaled 580,000 MT overall, a drop of 120,000 MT or -17.1 percent from a week ago and 710,000 MT less than the same week a year ago. Despite our prognosis from last week that was based on market surveys as well as examination of port stocks and incoming shipments, inventories have continued to fall. The main driver of this was declining utilization rates rather than ongoing feed demand improvements. In addition, some shipments scheduled to arrive this month...
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...
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...
Let’s return briefly to the fake meat hype cycle, now sitting somewhere in a dusty corner of your mind, not entirely forgotten. What happened to all those products, known as plant-based alternative proteins? They were supposed to be as good as real meat—cheaper, more environmentally...
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.