U.S. Talk Representative The Generalized System of Preferences (GSP) that grants duty free access to products from poorer countries expired almost four years ago. The African Growth and Opportunity Act (AGOA), which provides similar nonreciprocal preferential access to the U.S. market but aimed at Sub-Saharan Africa is scheduled to expire in September 2025. There are efforts on Capitol Hill to renew GSP and extend AGOA for another 16-20 years. Those trading under both programs worry about having too many criteria for eligibility and setting the bar on rules of origin too high. However, one complaint is that the Biden Administration is not engaged in either issue. One industry representative suggested that someone needs to put Trade instead...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.