The Biden Administration has put forth a proposed $2+ trillion plan partially dedicated to improved national infrastructure and paid for by the wealthy and corporations. A Morning Consult/Politico survey found that more than 60 percent of voters believe upper-income individuals and corporations pay too little in federal taxes. The Biden plan would increase the corporate tax rate from 21 percent to 28 percent. Note that 57 percent said they would support Biden’s infrastructure plan if it were paid for by rich people (>$400,000/year), and 47 percent would support it if paid by corporations. Meanwhile, a Gallup poll found that 70 percent of Americans believe that Biden will have to raise their taxes. The structure of any new ta...
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.