Livestock Live Hog Futures Stage Rally as Cash Prices Continue to Tank With the conclusion of China’s National Day Holiday last Thursday, the live hog futures market on the Dalian Commodity Exchange continued its October rally. The January 2022 contract, the leader by volume, ended last week up RMB 295/MT ($45.67/MT) from the week prior’s settled price to close at RMB 14,225/MT ($2,202.01/MT). That marked two straight weeks of increases since the last full week of September. With January 2022 corn futures contract closing at RMB 2,490/MT ($385.45/MT), the hog-corn ratio improved to 5.71. Through today, all live hog contracts have seen a significant jump this week with the January contract surging ahead by RMB 1,255/MT ($194.27...
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.