The NCAA “March Madness” basketball tournament starts this week; that is typically a major driver of demand for chicken wings – with the other drivers New Years and the NFL Super Bowl. According to the National Chicken Council, Americans ate 1.45 billion wings during the February Super Bowl; with two wings per bird, that is 725 million birds, or about 7.7 percent of the total 2022 broiler slaughter of 9.43 billion birds. Consider that is almost a whole month’s slaughter of birds to produce the wings that are, incredibly, consumed in one day. Anyway, the market is different going into the college basketball tournament this year. High demand in 2021, and COVID related bottlenecks, were bullish for wing prices. D...
What You Need to Know Today: The U.S. weather forecast has shifted to favor more beneficial conditions for finishing the corn and soybean crops, which is removing some weather risk premium from futures. Traders are looking ahead to Friday’s September WASDE, which will offer major insight...
Key Takeaways: Mandatory Country of Origin Labeling would provide consumers with more consistent information about where their beef originates, but evidence from the previous COOL rule found little indication that labeling increased overall consumer demand for beef. The primary potential benef...
The California General Assembly has passed a bill aimed at increasing transparency related to ultra-processed foods. California Governor Gavin Newsom has until 30 September to take action on the bill, though it will most likely be signed into law. Late last year, California became the first sta...
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.