As we reported last Thursday, the Senate passed a continuing resolution – i.e., a temporary funding bill to keep the government from shutting down at midnight that day. The vote was 65-35. In the House of Representatives, the vote was 254-175. This measure keeps the government open, and specifically, keeps various market sensitive AMS reports published, as well as extends the Livestock Mandatory Reporting (LMR) for which the statutory authorization expired on 30 September. That was the major hurdle to overcome – but there is more to consider. Recall that after the 2013 government shut down, some services were deemed essential, so when the 2018 funding lapse came, certain USDA functions were explicitly exempted from...
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.