As WPI covered on 28 September, that month’s USDA Hogs & Pigs report surprised to the upside, which led to USDA forecasting more pork production and lower hog prices in 2024. This analysis was repeated in yesterday’s coverage of the WASDE. But there is still a major unknown hanging over the pork market for 2024, which is Proposition 12 in California and Question 3 in Massachusetts. Technically, Proposition 12 entered into force on 1 July; enforcement will certainly ramp up in 2024. A court order extended the time for non-compliant pork that was in the supply chain before July 1st to continue to be sold in the California market until December 31st, 2023. A recent study took a look at pork prices and...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.