While India's poultry industry is against any trade of U.S. poultry meat, the general view is that such imports will be of low volume and not harmful to the industry at large. However, they will help consumers realize that good chicken and chicken products can cost less. Vegetable Oil Import Surge and Low Oilseed Production Forecast According to the government of India's (GOI's) Directorate of Economics and Statistics, Department of Agriculture and Cooperation, the country's 2013/14 kharif season (October harvest) peanut (ground nut) production totaled 7.813 MMT. GOI estimates the 2014/15 production at 5.024 MMT, less than the target of 7.245 MMT and an approximate 35 percent decline from the previous year. The Solvent Extractors Associat...
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.