World Perspectives
livestock

China Phase One and Hog Inventory

Today, USDA released the latest interim report from USDA and USTR on the Phase One China trade agreement. The report notes that “Chapter Three of the Phase One Agreement contains concrete, specific commitments to reduce and eliminate structural, non-tariff barriers to U.S. agriculture in China’s market” for a wide variety of commodities and for biotechnology. To date, China has implemented 50 of the 57 commitments. As for the higher profile provisions of the agreement (Chapter Six, which sets import goals), the report outlines the following: China has met 71 percent of its purchase goals in agriculture for 2020 The agreement went into effect in February 2020, making March the first full month under the plan, and...

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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...

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Recent Market Volatility Increases Futures Mispricing

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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