Domestic meat consumption in the U.S. is back on the rise with several factors all contributing to lower prices. Last year and 2013 were the only two in the last 10 years that had a per capita consumption increase after five straight years of decline from 2008 to 2012. Domestic Meat Consumption Up Domestic meat consumption in the U.S. is back on the rise after the era of ethanol, reduced herds and flocks, drought, high-priced corn, and stable U.S. dollar. USDA is reporting that red meat and poultry disappearance at the retail level this year is trending at 214 pounds per capita, up 1.5 percent from the 210.9 pounds in 2015. Beef and pork projections are higher at 54.5 pounds and 50.1 pounds per capita, respectively, while broi...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.