GOOD MORNING, Prices are mixed this morning, generally lower except meal. Meal prices remain volatile as domestic meal basis continues to firm on reduced DDGS as ethanol plants are idled. Additionally, there is chatter of force majeure declared on some ethanol plants that will mean some forward DDG sales will not be filled, leading to the substitution of other protein sources. Beans remain supported on pullbacks as China's bean crushers remain short of supplies due to SA logistics disruptions. Crush margins continue to improve with China's Shandong bean crush margins hitting an 8-year high. Wheat prices continue to be the beneficiary of Covid-19 as consumers continue to go after the basics, breads and pastas...
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.