Corn arrivals have started in Andhra Pradesh, Karnataka, Telangana and Maharashtra, but the prices farmers are receiving are not in accordance with the government-set MSP of 13,100 rupees/MT (approximately $ 211/MT). India Approaching a Cotton Glut – Prices Crash India's cotton production peaked in 2013/14 at 37.5 million bales (170 kg per bale) compared with 14 million in 2000/01 and will probably reach 40 million bales in 2014/15. The Cotton Corporation of India (CCI), which is a part of the textile ministry, indicates that the total supply for 2014/15 is likely to be 46 million bales including opening stocks of 6 million bales. The government of India's (GOI's) first production estimate is 35 million bales, which the trade considers to...
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.