Price is the most efficient signal to producers on whether to grow or reduce output of a commodity. However, price signals become distorted in agriculture due to policy interventions. Consequently, looking at supply/demand balances are another tool to weigh relative food security. USDA data on the global MY 2020/21 supply situation offers some expected results. Excluding available carryover stocks, consumption is exceeding production in oilseeds and corn. Canola prices are currently reflecting the larger deficit in rapeseed, and soybeans are not far behind. Wheat is in larger abundance, which is why prices are having trouble pushing any higher. Beef may have the second largest surplus in this grouping of commodities, but the cattle cycle i...
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.