The final numbers from livestock marketing for red meat production are in for 2021. Cash receipts are up 23 percent from 2020 to $101 billion. Cattle were $72.9 billion, and hogs were $28 billion. Broken down by species, cattle were up 15 percent and hogs up 46 percent. Interestingly, looking back at last week’s Cattle on Feed report, the mix of heifers on feed (reported quarterly) decreased a bit from the past two quarters, no doubt looking out to likely higher fed cattle prices in the second half of the year and through next year. The on feed inventory is large (a record for three of the four months so far this year), but the inventory of feeders outside feed lots is at its lowest level since 2015. It would appear heifers cou...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.