While China's total grain output has stabilized at 600 MMT per year, imports have continued to grow and exceeded 100 MMT last year for the first time in history due to several factors that have been driving domestic buyers to the global market. Oilseeds Soymeal Inventories Edge Downward Last week's soymeal inventories fell 130,000 MT to 1.35 MMT, a decline of 8.77 percent, following two consecutive weeks of increases. That total is also 654,400 MT or 32.61 percent lower than the volume for the same week in 2014. Among the surveyed regions, the only gain occurred in Guangdong where inventories rose 23.01 percent from the previous week to 190,000 MT. The biggest drop occurred in northeast China with a 40.25 percent decrease to 64,000 MT. M...
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.