Livestock Live Hog and White Broiler Prices Retreat After weeks of climbing like a rocket, the national average live pig price dipped last week to RMB 39.83/kg ($5.66/kg) or RMB 18.07/lb. ($2.57/lb.). This is a week-on-week decrease of RMB .19/kg ($.03/kg) or RMB .09/lb. ($.01/lb.). Reports from the Xinfadi terminal market in Beijing said last week that slaughterhouses have been delivering heavier hogs with much higher fat content. Purchases in September by restaurants, cafeterias, and other foodservice companies decreased due to lower quality and limited supplies of lean carcasses. The price of lean hog carcasses in Xinfadi continued to pick up steam due to a lack of availability as the premium for these hogs widened by as much as RMB 7...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.