World Perspectives
feed-grains livestock

Bullish COF Report

USDA released its monthly Cattle on Feed (COF) report this afternoon, which was bullish as expected. The total inventory in feedlots with capacity of 1,000 head or larger was 11.1 million head, the 32nd consecutive month of year-over-year increases and the largest total for 1 August since the series began in 1996. However, the rate of growth slowed dramatically. The 1 August inventory on feed was only slightly higher than August 2018.

The table above shows a big jump in July marketings, partly due to an extra day in that month versus a year ago. Nonetheless, average daily marketings totaled 86,857 head based on 23 slaughter days (excluding Saturdays) against 85,000 head in July 2018. The pace of July marketing picked up to 18 percent of...

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Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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