Judged Broken EU Trade Commissioner Cecilia Malmström expressed understandable frustration with the continued blocking by Washington of new dispute settlement judges for the WTO. She reportedly says that she fears the U.S. “may be killing the WTO from inside.” She also complains that she has not heard specific concerns from the U.S. What is notable is that the blocking effort is not just a Donald Trump ploy but a carryover policy from the Obama administration. Since he thinks his predecessor did nothing right, we can be facetious and argue that Trump will reverse course in Geneva if he finds this out. The U.S. has many reasons to be frustrated with the WTO system. Once having held global economic hegemony, it conceded mor...
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.
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...