President Trump returned from his Thanksgiving holiday break with a tweet underscoring this week’s make-or-break tax reform. As previously reported many times, the Senate budget resolution’s reconciliation instructions provide for tax reform legislation. This allows the tax reform bill to avoid a parliamentary point of order and thus the need to garner 60 votes in order to pass. The resolution specifically permits up to $1.5 trillion in revenue shortfalls from the current baseline over 10 years. Normally, any legislation that increases the deficit could face a point of order under the pay-as-you-go (PAYGO) provisions of the budget. While including tax reform in the reconciliation package avoids that, this does not prevent the ap...
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
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.