The Office of Management Budget reported yesterday that its review of the Market Facilitation Program (MFP) trade mitigation payments is finished. However, USDA has not yet announced the payment rates. What is known is that the rates will be based on a county average of previous years’ plantings, although the period has also not yet been announced. The program is broader than in 2018 when it covered corn, soybeans, sorghum, cotton, hogs, dairy, almonds and cherries. Payments to those commodities penciled out to slightly more than $1 billion. The 2019 MFP expands coverage to cranberries and grapes in addition to the remaining program crops (such as oats, barley and minor oilseeds) as well as peanuts, rice, peas, lentils, rice and alfa...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
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.