Row crops struggled to find interest and/or support today while wheat futures continued their slide on lack of news from Russia. The fireworks this week are in the livestock complex, where lean hog futures are rallying sharply on China’s ASF outbreak(s) and cattle futures are torn between higher beef demand/prices and ample cattle supplies. Wall Street was mixed with the S&P 500 in the red for the day and the Dow slightly higher while the tech-heavy Nasdaq Composite fell 1.1 percent on weaker semiconductor share prices. The dollar fell, which allowed for a recovery in copper and gold futures. Crude oil prices tanked as the EIA said inventories grew 4.3 percent as summer’s end pressured gasoline consumption. WTI...
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.