Livestock Poor Demand Forces Major Hog Producers to Revise 2023 Goals The impact of African Swine Fever (ASF) along with poor sales has pushed China’s leading hog companies to reexamine their 2023 production targets. With the average cash price for live hogs dropping RMB .19/kg ($.01/lb.) or 1.3 percent, the average loss per marketed pig expanded by RMB 135/head ($19.62/head) or 84.4 percent, even with corn prices continuing to trend downward. The dire situation was reinforced by the corn-hog ratio, which declined again and dropped to 5.09 last week. As noted last week, domestic producers have seen their total hog inventories cut by 20 to 30 percent due to ASF and a rush to sell overweight hogs during the first quarter...
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
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.