This is a good year for U.S. rice as China has moved forward on an approval process for buying it, and now the Nikkei reports that Japanese consumers are being allowed to eat more of it. Controversial Clovis The media has characterized the nomination of Sam Clovis to be USDA undersecretary with responsibility for managing scientific research as the most controversial pick in 15 years. Most of the opposition is political, much as it was 15 years ago, but critics complain that he lacks a science background and doesn’t know agriculture. Teaching economics in northwest Iowa inherently involves agriculture, and it does not require a science degree to manage scientists. After all, of the eleven U.S. senators overseeing USDA agricultural researc...
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.
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...