Democrats’ Agriculture Agenda With the Democratic wins in Georgia, Michigan Senator Debbie Stabenow is poised to retake control of the upper body’s Agriculture Committee. She says her “top priority” is to establish an agricultural carbon market. However, she says it will be a voluntary climate exchange and top Republican John Boozman of Arkansas says his main concern with the plan will be that it not solely be to the benefit of credit traders. The measure is likely to be part of a larger environmental legislative package by the Biden Administration, though it could have implications for the 2023 Farm Bill debate. Stabenow says she also wants to give greater legal protections to farm workers, and to certain for...
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.
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...