Nail on the Head Democratic Senators Elizabeth Warren (Massachusetts) and Cory Booker (New Jersey) teamed up on a report excoriating the meat industry over worker conditions and the coronavirus. Keep in mind that as a vegetarian, Mr. Booker is naturally disinclined towards meat packing and Ms. Warren is disinclined toward corporate America, having written a social responsibility bill that was described by Harvard University economics professor Jeffrey Miron as likely to help destroy capitalism. The most notable reaction to the charges by these two politicians comes from Smithfield Foods CEO Ken Sullivan. His sharp rebuke included:
"the aggressive and accusatory tone of your letter suggests your offices have already formed conclusions...
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...