Oilseeds Soymeal Inventory Falls Again as Crushing Output Drops Because of declining downstream demand, domestic crushers cut utilization rates to below 50 percent capacity. Even with the lower prices for soymeal, feed producers have been reluctant to make significant commitments with the hog market in tatters. Thus, China’s nationwide estimated soymeal inventory fell for the second consecutive week to a total 1.15 MMT as of 18 May 12018, a drop of 56,100 MT (-4.6 percent) from the previous week and down 76,100 MT (-6.2 percent) versus the same week in 2017. While Shandong Province saw the most significant weekly decrease, shedding 52,600 MT (-22.5 percent) to finish at 181,300 MT, the Northeast had a sharp gain of 19,000 MT (+38 pe...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.