World Perspectives

Livestock Roundup: Food Inflation Driven by Proteins

The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) data for December yesterday. For the month, the CPI was up 0.4 percent, while year-over-year it was up 2.9 percent. The core CPI – excluding energy and food – was up 3.2 percent, well above the Fed’s 2 percent target. Energy was down 0.5 percent, while food increased 2.5 percent, with food at home (retail) up 1.8 percent and food away from home up 3.6 percent.  For the food at home category, beef was up 4.9 percent on the year, with ground beef up 5.2 percent and beef roasts up 7.1 percent. Retail prices lag behind the wholesale boxed beef cutout, and the cutout was up 8.2 percent in December compared to December 2023, and so far in January the cutout has been...

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Summary of Futures

May 26 Corn closed at $4.4575/bushel, down $0.0275 from yesterday's close.  May 26 Wheat closed at $5.7725/bushel, down $0.1425 from yesterday's close.  May 26 Soybeans closed at $11.64/bushel, down $0.0675 from yesterday's close.  May 26 Soymeal closed at $312.9/short ton, down...

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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.

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