April 2023 total red meat and poultry stocks were up from March and were 2.02 percent greater than April 2022 as the industry continues to rebuild stockpiles. The big shock from this month's report, however, was the massive decline in beef supplies that pulled red meat stocks down 4.9 percent from April 2022. Larger pork stocks helped blunt the impact of this on total red meat supplies, however. Total poultry inventories rose 0.53 percent from March, slightly below their normal seasonal increase, and were up 8.9 percent year-over-year. Total beef stocks were down 15.8 percent from March and fell below the five-year average. Pork stocks were up 5.9 percent from March, a significant gain during a month when stocks usually rise just 3.2 percen...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.