The U.S. has notified the WTO that it will seek arbitration over its mandatory country-of-origin labeling (COOL) statute and the latest ruling against it. The entire process will take approximately 60 days and does allow some additional time for a legislative fix. COOL Retaliation Turns to Arbitration Canada and Mexico yesterday sought official permission from the WTO to impose retaliatory tariffs of $2.6 billion and over $700,000, respectively, under the ruling against the U.S. mandatory country-of-origin labeling (COOL) statute. However, yesterday's review of those requests took a turn as the U.S. notified the WTO that it would seek arbitration over the law. While the tariffs could have been approved immediately, they are now delay...
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.