The Federal Reserve Open Market Committee is meeting today and tomorrow, where it will revise its latest economic forecasts for the year and release its plan for short term interest rates. At the June meeting of the Fed, the median forecast among the 17 Fed policymakers was that inflation would be 0.8 percent in 2020. Given the economic recovery to date and the growth in government spending, that will no doubt be too low. Also, in June the Fed’s projection of inflation in 2021 and 2022 was 1.6 percent and 1.7 percent. From the growth perspective, according to the data from the Atlanta Federal Reserve Bank, Q3 growth could be near 30 percent. Economic reports so far show that consumer spending is outpacing productio...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.