Cattle and Beef Outlook USDA revised its 2018 beef production forecast to 26.9 billion pounds, a decrease of 30 million pounds, as fewer fed cattle are expected to go to slaughter in the fourth quarter. The production estimate for 2019 is 27.8 billion pounds, down 100 million on lower-than-trend feedlot placements in the third quarter. Thus, the revisions to USDA’s earlier trends come from lower numbers in back-to back-quarters. 4.7 percent fewer cattle were placed in feedlots, but there were also 3.6 percent fewer cattle marketed than the previous year, which would still result in increased beef production. Strong marketing in the first half of 2019 can be expected as a result. Exports have been supportive of beef prices throughout...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
From WPI Consulting
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.