Weekly trade data showed a big uptick in pork exports last week; net sales were up 83 percent from the four-week average and actual shipments were up 82 percent. Big buyers were the two stalwarts Mexico and China. Out of net sales of 71,900 MT, Mexico was the buyer of 25,000 MT (35 percent) and China bought 19,500 MT (27 percent). Mexico at 29,400 MT was the destination for 39 percent of total actual shipments of 75,900 MT and China at 22,400 MT was 30 percent. Mexico returned strong to the market; December 2023 shipments were up 17 percent over last year at 105,451 MT, which broke the previous record of October 2023 by 5 percent. Year-end exports to Mexico were up in volume at 1.1 MMT and valued at $2.35 billion. But it wasn’...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.