A key question now that the meat and poultry markets are moving into the high demand season is how consumer demand will hold up – especially compared to record demand of 2020 and 2021. Consumer demand picks up in May for Memorial Day, stays up through July, levels off some in August when there are no holidays and more vacation travel, and then peaks up again in September due to Labor Day. According to research from the Beef Checkoff, volumes sold in the retail fresh meat department are on average 2.4 percent higher on a weekly basis during the summer than weekly sales for the remainder of the year. The 15-week summer grilling season accounts for, on average, 31 percent of annual beef demand. That leads retailers to make h...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.