It is 2024, and the upcoming Presidential and Congressional elections will start to cast a shadow over policy debates and timelines in Washington. For context, below is a brief recap of what’s at stake on Capitol Hill for the rest of this year – and getting past the short term hurdles. The key short-term issues include meeting the funding deadlines to keep the government operating, which means having appropriations in place by 19 January and 2 February, depending on the agencies to be funded. At this point, if the 12 various agency appropriations bills are not finished, House Speaker Mike Johnson (R-Louisiana) has indicated he would not support another short-term stop gap spending bill and would instead support a c...
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.
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...