World Perspectives
livestock

Tight Dairy Supplies

After going to four different grocery stores this past weekend looking for heavy cream and nearly coming up empty handed, it is confirmed that U.S. dairy supplies are tight. USDA initially proclaimed higher prices in 2022 due to larger exports, but those are running even with a year ago. Higher butter and cheese exports are offset by lower milk and nonfat milk powder exports. Overall U.S. dairy production is down one-half percent, but demand is strong. Meanwhile, Australia’s dairy production and exports have rebounded from last year’s drought.  Diary-based food inflation hit 15.9 percent in September, versus 13 percent overall for food. U.S. dairy production in 2023 is forecast to rise while fat-based exports decline and s...

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Mar 26 Corn closed at $4.365/bushel, down $0.0325 from yesterday's close.  Mar 26 Wheat closed at $5.095/bushel, down $0.1125 from yesterday's close.  Jan 26 Soybeans closed at $10.6275/bushel, down $0.09 from yesterday's close.  Jan 26 Soymeal closed at $302.4/short ton, down $1...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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