Hitting the downside of the cattle cycle and having a higher value product based on a strong U.S. dollar has certainly reduced, but the trade has held up relatively well over the past year. U.S. beef imports have trended higher, with an especially large boost from Brazil back in January. But North America (Canada and Mexico) and Oceania (Australia and New Zealand) remain the main suppliers. U.S. beef exports still surpass beef imports by more than a third. Japan, South Korea and China remain the major buyers of U.S. beef. Canada dominates as a supplier of pork to the U.S. market, with Mexico the overwhelming favorite for U.S. pork exports. Due to the short supply of animals, the U.S. has been a large sucking sound, but it is s...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.