The House Agriculture Committee began its farm bill markup this morning. Chairman Frank Lucas (R-Oklahoma) and Ranking Minority Member Collin Peterson (D-Minnesota) adopted more than 25 amendments as manager's amendments, including two on the commodity title that did not impact spending.The committee defeated an amendment to strip the farm bill of the Dairy Modernization and Stabilization Act (DMSA) by a vote of 26-20. That provision has a controversial supply control mechanism that the House leadership opposes; however, it is a key element for Peterson, and losing it could cause Democratic votes to defect. We expect a floor fight on the issue. The sponsor of the amendment was former Committee Chairman Bob Goodlatte (R-Virginia), who also s...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.