This week marks the end of 2024, and the beginning of 2025. Indeed, 2024 was a notable year in the cattle markets with implications to carry over into next year. The U.S. cattle inventory entered 2024 at the lowest level since 1951, with the supply of feeder cattle outside feedlots at its lowest since the previous low in 2014, the trough of the current cattle cycle.Despite that, beef production in 2024 is estimated to be 27.035 billion pounds, which would be up from the 2023 production of 26.967 billion pounds, and well above the beginning of the year forecast of 25.99 billion pounds. Increased beef production came about from heavier slaughter weights and more time on feed, driven by cheaper feed. Also playing a role was the gro...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.