Macroeconomics Food Inflation Returns, Prices Up 1.2 Percent Year-On-Year After declining on an annual basis by 2 percent in November, food prices rose on aggregate by 1.2 percent in December. While live pig prices surged in the second half of the month, retail prices for pork relative to December 2019 were down by 1.3 percent. Egg prices continued to tank in December falling by 10.8 percent from the previous year. Driving the uptick in prices were fresh fruit, fresh vegetables, cooking oil, and dairy products, which rose by 6.5 percent, 6.5 percent, 4.3 percent, and 1.3 percent, respectively. With live hog prices continuing to rise here in January and import prices rising, the cost of food will continue to climb through at least Q1 of 20...
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...
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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.