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: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.