Un-Whole of Government President Trump’s memorandum last week announcing his America First Trade Policy (AFTP) was issued to five federal departments, two of which are only tangentially involved in trade policy. It skipped over the federal department overseeing more than six percent of U.S. international trade and whose constituency is the most stalwart supporter of the President. His AFTP mentions helping farmers and ranchers three separate times but doesn’t once mention his government’s primary overseer of agricultural trade policy. As in his first term, he has elevated the Department of Commerce to a leadership position that ignores the intent of the Trade Act of 1974 in giving USTR primacy. This may or may not be...
What You Need to Know Today: The cattle market rebounded sharply this week, with January feeder cattle futures gaining $16.98/cwt and February live cattle futures advancing $7.60/cwt since last Friday. Tyson Foods' plans to restore a second processing shift at its Amarillo, Texas, facili...
Tuesday’s CPI report from the Bureau of Labor Statistics (BLS) showed inflation roaring back stronger than expected in October. That probably locks in another rate hike – which was expected anyway – at the Federal Open Market Committee (FOMC) meeting in December. Consumer pric...
Key Takeaways: The rationale for farm programs has changed significantly from their original intentions. Farmers’ incomes have grown sharply and have surpassed non-farm incomes beginning in the 1970s. Current farm programs are complex and focus on supporting risk management, environmenta...
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.