Record Pork Draw on Cold Storage Stocks Yesterday, USDA released the monthly cold storage report. As of 1 June, inventory of pork in cold storage was 467 million pounds, 76 percent of 1 May and 26 percent of a year ago. That was a record draw down and inventory is at its lowest since 1 September 2011. As Matt Herrington noted yesterday, that is another sign of the impact that COVID is having as stocks were not being replenished. Beef was 87 percent of last month and 102 percent of last year, while chicken was 92 percent of last month and 103 percent of last year. For dairy, cheese was 98 percent of last month and 102 percent of last year while butter was 102 percent of last month and 121 percent of last year. The draw on pork...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.