The Wall Street Journal noted that China’s pork production fell 55 percent last year (per Rabobank) and yet U.S. pork prices have fallen as China instead bought pork from Europe and Brazil. But global pork supplies are finite, with neither Europe nor Brazil indicating the presence of surplus carryover stocks for the past few years. The data is anomalous. Over the past two years, global pork production fell by 17.7 MMT while trade only grew by 1.9 MMT, and surplus stocks increased by 7.4 percent. China had its own trade tiff going with Canada, which saw surplus pork stocks grow by 23 percent, whereas U.S. carryover increased by 12.5 percent. So, where did the extra pork to feed China come from? China produces half the world’s po...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.