The Philippines may increase its pork imports under a reduced tariff by over 600 percent, from 54,210 MT to 404,210 MT to better meet demand and reduce price inflation. The agriculture ministry says around 15 percent of the hog inventory was lost to ASF in 2020 and, as a result, it cannot meet 25 percent of the pork requirement this year. Even with the increased imports total supply will still be below levels before the ASF outbreak. Globally, pork production is down 8.1 percent from its peak before ASF and consumption is down 8.2 percent. Price analysis by Iowa State University indicates that China’s hog inventory is unlikely to return to previous high levels until well into 2022. Reports of a British gene-based ASF vaccine that was...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.