Macroeconomics Food Prices Fall by Nearly 4 Percent With pork prices continuing to tumble, the average cost of food in China dropped by 3.9 percent in February compared to a year ago. That marks three straight months of decreases, and the largest decline since last September. China’s National Bureau of Statistics (NBS) reports retail prices for pork fell by 42.5 percent in February year-on-year versus 41.6 percent in January. Meanwhile, fresh vegetables edged down by .1 percent. By comparison, prices for cooking oil, fresh fruit, and milk continued to rise, although at a slower rate than in January with upticks of 3.7 percent, 6.6 percent, and .7 percent, respectively. The overall inflation rate in China remained at .9 percent in Fe...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.