At a farm bill event in Indiana featuring that state’s two U.S. Republican Senators, Mike Braun, who is a member of the Senate Ag Committee, and Todd Young, the Committee’s Ranking Republican member, Committee Ranking Member John Boozman (R-Arkansas) gave an update on the legislation’s progress. First, pen is being put to paper to get the actual text of the legislation started; according to Boozman, the committee is “trying to get this done by October 1st.” That, of course, is when the 2018 farm bill expires, which means must be a temporary extension of the current bill. Recall that the last bill was not completed until December 2018, also after the fiscal year and 2014 Farm Bill had expired on 1 O...
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
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.