While USDA will make some changes to world production numbers, It is interesting to note where the ending supplies of the three major crops are located.USDA will issue its monthly WASDE (supply/demand) numbers at 12 p.m. (EST) this Wednesday, 9 December. The December reports don’t contain any new or revised crop production estimates for the U.S. as those numbers will be unchanged from the November report. U.S. crop production revisions or final estimates aren’t released until 12 January. The December ending supply revisions will be totally dependent on any changes in the demand side of the equation, and no one is expecting any major changes in demand this month. Remember that USDA reduced the wheat export forecast by 50 million bushels (1.3...
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.