Fish and Livestock Jurisdiction In one of its end of power moves, the Trump Administration orchestrated a Memorandum of Understanding that shifted regulatory oversight of genetically modified livestock intended for the food system from FDA to USDA. The agreement was signed by HHS, the parent department of FDA, because FDA Commissioner Stephen Hahn refused to give it his imprimatur. The Biden Administration is likely to reverse the move, if for no other reason than to spite Trump, but there is a long history of competition between these two food regulatory agencies. Federal law requires that USDA inspect all meat before sale to consumers, but fish inspection resided at FDA and that agency lacked the resources for robust oversight. US...
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.
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...