China’s estimated soymeal inventories continued to climb nationwide last week, rising another 80,000 MT to a total 800,000 MT. Several factors caused this upward trend, which is likely to continue thorugh the coming weeks. Oilseeds Soymeal Inventories Rise for Third Consecutive Week China’s estimated soymeal inventories continued to climb nationwide last week, rising another 80,000 MT to a total 800,000 MT. After projecting in last week’s report that the 800,000 MT mark would be reached by the end of the month, 15 July data shows the market beat that forecast by a few weeks. The current estimated soymeal inventories are 600,000 MT lower than one year ago. Among the surveyed regions, those in north China increased to 77,600 MT (+9.37 perc...
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.