One apparent impact from the repeal of COOL for beef and pork could be seen by reviewing the origin of feeder pig receipts. Among the 86,698 receipts, about 31.6 percent or about 27,697 of the total were from Canada. Final COOL Rule USDA’s Agricultural Marketing Service published the final rule for country-of-origin labeling (COOL) yesterday. The 2016 omnibus appropriations bill repealed COOL for beef and pork, both muscle cuts and grind, and USDA stopped its enforcement on 18 December. The action was of course due to the case brought against the COOL statute by Canada and Mexico in the WTO.COOL is still in place for chicken, lamb, goat, farm-raised and wild-caught fish/shellfish, peanuts, pecans, macadamia nuts and ginseng as well as per...
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.