USDA’s meat trade data for April were released this week, and global beef demand remains exceptionally strong, despite all the various hurdles and challenges in the market. April was the fifth highest export total on record and monthly exports accounted for 15.6 percent of all production. It also marked the third month out of four months so far in 2022 where U.S. beef exports topped $1 billion in value. Part of that peak is higher prices, but also it is being driven by volume.
Last week, WPI looked at how domestic demand would hold up this summer under high retail prices and inflation across the economy squeezing consumers’ pocketbooks. As reported, the Kansas State University Meat Demand Monitor (MDM) survey showed a little...
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...
