Buying Food USDA is forecasting that grocery prices will rise by 3 percent this year, the largest increase since 2011 and mostly due to animal proteins. That is more than three times the overall inflation rate. Five economists from four different universities analyzed household spending in response to this year’s COVID-related fiscal infusion of cash (2020 CARES Act) and found less was spent on durable goods and more on food than during similar stimulus efforts in 2001 and 2008. However, the authors attribute the change in spending to shelter-in-place orders and supply disruptions. Ethanol and Emissions There is angst in Europe because average automobile CO2 emissions are rising at a time when regulations say they should be d...
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.
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...