Since early March 2015, the average soymeal price has been on a constant downward slide. We expect this trend to continue, as demand from downstream users has not shown any signs of improvement. Oilseeds Soymeal Inventories Fall Below 1 MMT Last week’s estimated soymeal inventories for major crushers in China dropped to around 0.93 MMT, a 139,800 MT (13.03 percent) decrease from the week prior. Compared with the same week in 2014 when soymeal inventories exceeded 3 MMT, current inventories are 54.09 percent lower. Among the surveyed regions, last week’s total estimated soymeal inventories in the North and the Northeast increased by 55.49 percent and 40.45 percent, respectively, from the previous week. Meanwhile in Fujian and Shando...
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.