Fed cattle prices are up, finally rebounding from the disruption to packing capacity constriction, large numbers of cattle on feed from drought conditions, and heavier slaughter weights. Exports are behind last year’s pace; through September, year-to-date exports are 8 percent on volume and 9 percent in value, accounting for 13 percent of production and $5.55 billion, which is about $295 per head of fed slaughtered cattle. Seasonal demand for beef should pick up approaching the holidays. The news of a COVID vaccine approval was also positive for economic recovery and food service demand for muscle cuts regained traction. To date, ground beef from fast food and fast casual takeout have held up, but seated dining still has...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.