China’s new countercyclical pork production support program includes the goal of pork imports not exceeding 5 percent of production. The goal is not illegal provided Beijing does not exceed its WTO commitments for support and market access, but it does contravene the concept of free and open markets. China’s pork imports have been about 10 percent of consumption the past couple of years (see graph below). While China imports a lot of intermediate goods for further value-added and re-export, this policy is specifically intended to displace import competition. A similar policy for all goods in the U.S. would upset China’s export-led growth. According to the Federal Reserve Bank of San Francisco, around 11 percent of U...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.