U.S. ethanol exports to China soared to 111,426,533 liters in January (+178 percent) at an average price of $.38 per liter ($482.69/MT). As there are only four state-owned entities in China that are licensed to produce ethanol, the nation’s high domestic corn prices have made U.S. ethanol quite attractive. Oilseeds Soymeal Inventories Surpass 1 MMT Threshold Ongoing sluggish demand from the feed sector coupled with an expected surge in soybean shipment arrivals pushed China’s national estimated soymeal inventory up to 1.03 MMT last week. Since the first week of March, it has grown 45 percent with a weekly average increase of 160,000 MT. Compared with the same week one year ago, last week’s current estimated total was 70,000 MT higher (+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.