As WPI reported on 2 July, USDA released its proposed Federal Milk Marketing Order (FMMO) reforms; the final proposal was released in early November 2024. This final proposal will now go to producer referenda in each of the 11 FMMO regions. Producers whose milk was pooled in January 2024 are eligible to vote. Ballots will be mailed to eligible producers and must be postmarked by December 31, 2024, and returned by January 15, 2025, to be counted. If at least two-thirds of the producers or two-thirds of the pooled milk represented in an order approve the final decision, a final rule will be issued, implementing the changes. However, if a two-thirds majority is not reached in each order, the FMMO revisions will be terminated in that...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.