The consumer is often said to be the backbone of the U.S. economy, and that looks to be a positive factor for the food and agricultural sectors. The U.S. Census Bureau recently released its monthly advanced estimates of retail and food service sales, which are widely encouraging from a macroeconomic perspective. The data show broad-based sales increases, largely driven by robust consumer spending. Consumer spending, of course, is nearly always good for the economy, provided it isn’t financed with unreasonable debt/income ratios. Total retail sales in February were down slightly from January but up 2.8 percent from February 2018. While year-over-year growth has slowed since the 7 percent spike in mid-2018, the trend remains positive a...
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.
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...