Broiler slaughter weights are below year-ago levels for the first time in three years, and demand is up ahead of the traditional seasonal growth trend.According to the latest USDA data, February broiler meat production totaled 3.2 billion pounds, an approximate 1.7 percent increase over the same month a year ago (after adjusting for the leap year in 2016). Two interesting developments emerge from the data. First, average bird weights were marginally below a year earlier, which was only the third time since 2012 that they failed to increase on a year-to-year basis. That is attributable to retailer and restaurant concerns about “woody breast” syndrome in larger birds.Second, the number of broiler-type eggs set has grown faster than the percen...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Beef packer margins declined to $190/head last week, down $32 from the prior week as the Choice cutout weakened while fed cattle prices remained steady. The cutout fell $2.56/cwt to $373/cwt while fed cattle prices held near $220/cwt, narrowing packer spreads after several weeks of improvement...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
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.