World Perspectives

GDP Outlook and Implications – or Not – for Agriculture

As has been well documented in the news over the past week, the Federal Reserve’s Federal Open Market Committee (FOMC) kept the federal funds rate unchanged on 1 November.  This comes after the September meeting when the FOMC had initially signaled there would be one more rate hike this year. The Fed also opted not to raise rates in September. The question is, will July 2023 be the last rate hike of this tightening? The decision came after the sky high Q3 GDP growth of 4.9 percent. But there is more behind the curtain regarding that report. First, it was driven by consumer spending. In fact, much of that spending was on services, and within that, the Barbie movie and Taylor Swift and Beyonce’s concert tours. That doesn&rsq...

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May 26 Corn closed at $4.62/bushel, down $0.05 from yesterday's close.  May 26 Wheat closed at $6.05/bushel, up $0 from yesterday's close.  May 26 Soybeans closed at $11.5925/bushel, down $0.145 from yesterday's close.  May 26 Soymeal closed at $315.3/short ton, down $6.8 from ye...

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livestock

Grassley and Smith Introduce Meat Industry Consolidation Bill

Previously, on 24 March, WPI wrote about fertilizer consolidation and an effort by Majority Leader John Thune to introduce mandatory price reporting for fertilizer, similar to the process for meat and dairy. However, the efforts to address concentration and market transparency continue. More re...

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From WPI Consulting

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.

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