First Half 2018 Exports Up; Second Half TBD June export numbers show pork shipments down for the month but up for the first half of the year. There were many pre-tariff shipments with exports setting a new record in April before dropping off in May and June. On 2 April, China increased its tariffs on U.S. pork and variety meats. It is by far the largest customer for the latter, which bring value back to the carcass. The tariffs then rose again on 6 July with the total duty on pork exports to China now at 62 percent. Moreover, domestic production in that country has increased, reducing U.S. market share. A new 10 percent tariff hit U.S. pork shipments to Mexico on 5 June, which dampened exports by 7 percent for that month versus June 2017...
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.