There is still some slack in the beef processing sector, reportedly related to the Omicron variant and labor availability. Cattle slaughter today was 116,000 head, compared to 122,000 for the same week last year. Wednesday’s slaughter was 115,000, Tuesday’s slaughter was 117,000 and Monday’s, 113,000 head – which indicates that there was some effort at getting harvest ahead of the supply since Monday was a federal holiday. For the year, slaughter is about 5 percent below 2021. Wrapping up 2021, beef production was 101 percent of 2020, with slaughter last year also 101 percent of 2020. Pork production and slaughter were 96 percent of 2020. Hog weights were down two pounds on the year and cattle weights were up three...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.