With drought, a late July heat wave, and escalation of the war Ukraine, risk premiums are being priced into the markets – and dairy was no exception. Yesterday the Class III Milk futures traded limit up on August, September, October, and November. The Class IV followed in the draft of the Class II jetstream. Today, those contracts traded on expanded limits given yesterday’s session, but the July Class III contract was up a penny and August and September gave back 9 and 49 cents respectively. Spot markets have also rallied, for block and barrel cheese, butter, whey, and powder. Last week, ice cream makers were pulling cream away from butter makers and heat in the central and western parts of the country has been impa...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.