The beef production forecast was up over last month based on the large number of cattle on feed. Specifically, December placements were the highest on record. On feedlots of 1,000 head or more capacity the total inventory was 12 million. That is the second highest January total on record. For feedlots of all sizes, the inventory was 14.7 million head, which was the same as last year and tied for the second highest total in a decade. However, year-over-year, beef production in 2022 is forecast to decline. Despite the large number of cattle on feed to begin the year, the number of feeder cattle outside feedlots was down, and at its lowest since 2015. That was a year when the cattle herd was near record lows, COOL was in place (fo...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.