Carousel Redux Frustrated that the $3 billion in counter-retaliatory duties it imposed on U.S. products has failed to change the Section 232 duties imposed by Washington on its steel and aluminum, Mexico is going to change its list of American products being penalized. The bad news for Mexico is that it is unlikely to make difference. The U.S. invented the so-called carousel approach to retaliation in the 2000s in an effort to change the EU’s WTO illegal beef hormone policy. Brussels still bans beef produced with the hormones. Also disappointed will be U.S. agriculture since it is still likely to be a main target of Mexico’s retaliation. Definitional Stalemate The U.S. has developed a reasonable proposed definition of...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.