World Perspectives
livestock

Cattle on Feed

The cattle on feed (COF) inventory as of 1 September was a record for the month at 11.1 million head, which was also the fourth time in a row that the inventory set a new monthly record.

The report was right in line with pre-report expectations. The distribution of placements by weight class is noted down below; drought conditions and low feed costs catalyzed the increase among the lighter weight categories.

Overall, the report is bearish. Given the distribution of placements by weight (see above), that pressure will extend to out contracts (i.e., December and February). Adding slightly more pressure, total pounds of beef in cold storage were up 8 percent on the month and 12 percent from last year. Total red meat in freezers was up 3...

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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.

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