USDA’s WASDE report will not be released on the regularly scheduled date of 11 January as the Office of the Chief Economist has indicated that it takes about a week to properly compile the data for the potentially market-moving report. Moreover, the agency must also prepare the data and analysis for the crop progress and grain stocks reports. So, watch for a WASDE report about a week after the government opens. In addition to the WASDE, other things that will be delayed include some of the trade mitigation funding, farm bill implementation (especially the new dairy margin protection program provisions that were on a tight timeline) and the EPA’s work on a waiver for year-round E15 use. Currently, E15 is generally banned s...
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.