The Biden Administration has been in place for a week now; here’s an update on how things are starting off. The Secretaries of Defense, Treasury, and State have been confirmed by the Senate. Others are awaiting confirmation. USDA Secretary Tom Vilsack has been stuck in limbo. With the 50/50 Senate still negotiating an agreement on how to proceed, the Agriculture Committee cannot convene a confirmation hearing on Vilsack. The former Chairman, Senator Pat Roberts of Kansas retired, so until the Senate is organized a new chairman cannot be appointed. Nor can new members be appointed (and with Georgia Senator Kelly Loeffler’s loss in the special election the committee membership is also tied). Once the Democrat and Republica...
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.