Trade Relief Protein Purchases As expected, USDA announced the second trade mitigation program today. It is a $16 billion package with $1.4 billion earmarked for the Food Purchase and Distribution Program (FPDP) created last year, up $200 million from last year’s target amount. Commodities to be purchased include fruits, vegetables, some processed foods, beef, pork, and milk. Poultry and lamb have now also been added to that list. The surplus commodities will be distributed by the Food and Nutrition Service (FNS) to food banks, schools and other outlets serving low-income individuals. Details are forthcoming, but the amounts under the initital FDFP action are noted in the table below.
The first FPDP purchase program was announced...
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...