Dairy Reforms Keep Coming The emergency appropriations bill that passed on 9 February included additional cash and some reforms to the dairy Margin Protection Program (MPP). The new spending plan provided $1 billion to be split between cotton growers and dairymen. MPP allows dairy producers to insure the margin between feed costs and income on a hundredweight (cwt) basis. Among the reforms, the rates were lowered for higher margin coverage (margins above $5.00/cwt); the first $100 in fees were waived; and the volume of coverage without a cost was increased from 4 million pounds to 5 million pounds of milk. Further, the appropriations bill included instructions for USDA to reopen the program in 2018 for new sign-up or new elections in cover...
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.