USDA released its monthly Cattle on Feed (COF) report today, which contained some interesting data.USDA released its monthly Cattle on Feed (COF) report today. The total number of cattle on feed as of 1 September was 10.5 million or 104 percent of last year. This surpassed the industry’s average pre-report estimate (see Ag Perspectives, 21 September), although it matched the highest end of the range.Placements in August totaled 1.93 million head or 103 percent above a year ago, exceeding the average pre-report estimate of 96.8 percent. Meanwhile, marketings were 1.98 million head or 106 percent, matching that average pre-report estimate.On the one hand, the rationale for lighter placements is credible as those from March through June saw do...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.