USDA held total red meat and poultry production steady in today’s WASDE. Broiler production was reduced 0.33 percent from last month based on hatchery data and the rate of production, but that was offset by a light increase in beef, particularly from non-fed slaughter as beef cows are being culled (though dairy cow slaughter is down) and a 0.55 percent increase in pork production. As the table at the end of this report shows, slaughter weights are up to 294 pounds and slaughter last week was 2.789 million head. That’s the highest volume since 21 March which was 2.8 million, and in the top five volume weeks historically. Since COVID, the forecast for annual production is down 3.3 percent for broilers, 2.2 percent for pork,...
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.