Marco Trends February Economic Data Points to Serious Weakness Data from China’s National Bureau of Statistics indicates the country’s Purchasing Managers’ Index (PMI) fell to 49.2 percent last month, the lowest level since May 2017. It should be noted that a figure below 50 points to an economy in contraction. With the exception of 2017, February is usually a time of peak spending as it coincides with the Lunar New Year celebrations. On the consumer side, food costs were up just 0.7 percent from February 2018, a time when they were 4 percent higher than the year prior. Underscoring this decline was the average live pig price in China, which ended February at RMB 12.68/kg ($1.89/kg) or RMB 5.66/lb. ($0.84/lb.). That was...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.