The House Agriculture Committee passed a bill providing additional farm emergency payments under the Wildfires and Hurricanes Indemnity Program – Plus program. In FY2018 and FY2019, Congress provided several supplemental appropriations for farm production losses resulting from natural disasters and not covered by crop insurance. The majority of that supplemental funding has been administered by USDA through two versions of a similar program: Losses occurring in 2017 were eligible for the “2017 WHIP” and an expanded set of losses occurring in 2018 and 2019 were eligible for “WHIP Plus” (WHIP+). In June of this year, USDA announced that it would start making second payments; due to budget constraints...
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
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.