Workers Unite U.S. Trade Representative Katherine Tai told union workers in Michigan that the Biden Administration wants workers to have a seat at the table when trade policy is being formulated. She said that the President is committed to “a trade policy that is crafted with workers for workers.” This is not a new approach to trade policy. For decades there has been a Labor Advisory Committee at USTR that has notably been comprised of all union members. There are currently 24 union members on the Committee and no one representing non-union workers despite the fact that only 10.8 percent of U.S. workers belong to a union. TPP Rebound The Trade Subcommittee of the Senate Finance Committee met yesterday to discuss the Asi...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
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.