Inverted Farm policy Politics Farmers in the U.S. tend to be conservative and vote Republican. This can sometimes be perverse. The U.S. House Republican Study Committee has issued its guidance for the 2023 farm bill and it would slash support for farmers. It would eliminate the Price Loss Coverage (PLC) and the Agriculture Risk Coverage (ARC) programs. Farmers instead want the guaranteed prices in PLC raised. Crop insurance is most precious to farmers, but the Republicans would slash the federal subsidy. They would end the sugar and dairy programs, while removing USDA flexibility for CCC spending. In exchange for slashing $90.4 billion in farm spending, the Republicans would reduce regulation. These cuts won’t happen, and farmers wil...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.