One of the more interesting aspects of lifting the ban is the impact it could have on U.S.-EU trade as the EU's strategic need for crude oil could change the course of commodities trade between the two giant markets.The U.S. oil system is currently facing a mismatch between the rapid growth of light tight oil and the inability of the country's refining system to economically process these growing volumes, and the debate has reignited. Tomorrow the House Agriculture Committee will hold a hearing on the economic impact of lifting the crude oil ban.The modern global food system is highly fuel- and transport-dependent. The connection between food and oil is systemic, and the prices of both food and fuel have risen and fallen more or less in tan...
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.