August trade data was released yesterday. High prices of U.S. beef exports have kept exports down. Compared to August 2023, total exports were 102,682 MT, which was the lowest monthly total since January. For the first eight months of the year, January through August, exports at 856,834 MT were down 3 percent from last year. A few ways to look at the effect of beef prices: volume was down 6 percent, while value was down 4 percent. Muscle cut volume was down 8.6 percent, a bigger drop than the total 6 percent drop in shipments which include offal. For the first eight months of the year value was up 4 percent while volume was down 3 percent. Gains came from offal and variety meats, and Mexico is now the top destination for variety mea...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.