Livestock Financial Reports Show Top Hog Producers Had Rough Q3 Last week, several major domestic hog producers, also known as “Pork Concept” companies, released their financial results for the recent Q3. Saying that several bled like a stuck pig might be an understatement. Muyuan Foods Company, the market leader, said preliminary figures suggest a loss of between RMB 500 million to 1 billion ($77.64 to $155.28 million) for the most recent three months, July through September. That compares to a record quarterly profit of RMB 10.2 billion ($1.52 billion) for Q3 2020. Zhengbang Technology Company, the second largest producer by volume, indicated an astonishing loss of between RMB 5.5 to 6.5 billion ($85.4 to $1.01 billion), wh...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.