GOOD MORNING, Prices started the evening mixed but turned lower by morning. Harvest weather over the next two weeks appears to be perfect. Current prices may now factor in strong demand from China as its hog herd numbers recover. Funds appear to take a few morning profits as China nears their week-long holiday that begins October 1. Soyoil is down on a sharply lower palm oil market. While the bull may be taking a breather, the upward path and current tops do not have a market reversal as of yet. There are reports that Brazil may have oversold beans and need to import for their domestic crush. According to Agricensus, Cofco reportedly is selling Brazilian cargoes for Oct and Nov shipmen...
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.