The Food Safety and Standards Authority of India's (FSSAI's) draft order that would potentially ban the use of meat cum bone meal (MBM) in animal feeds is viewed as a threat to the domestic poultry industry and possibly meat imports as well. Tight Corn and Meal Supplies Impacting Poultry Industry Corn prices in India again increased from the previous week. Since the monsoon has been deficient in the corn belt, prices in key supply centers have been rising. Demand continues to grow, but supplies are tight. Bihar is the only location source, and prices were up to $200/MT at the delivery site. Freight and other costs total $48/MT, bringing the overall price of delivered stocks to the feed mill in south India to $248/MT. Even with a corn pric...
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.