With the Labor Day holiday behind us it is timely to look at the hog and pork market. Slaughter the week before Labor Day was down 4.3 percent – though it was still 0.8 percent above the same week last year. And this week’s slaughter will be down on the holiday shortened week; so far this week, week to date daily slaughter is about 2.5 percent below last year compared to cumulative slaughter for the year being up 1.4 percent. Additionally, weights have been down for the past couple of weeks, about four pounds lighter than the same period in 2022. That is tightening up the pork market before moving into seasonally higher slaughter in a couple of weeks through October. If weights are lighter that will offset some of the hig...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
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.