The final November retail sales data are in; Thanksgiving shopping dominates grocery sales and turkey is the key protein driver. This year, many groceries adopted different strategies to keep stores from being crowded during the second wave of COVID including delivery, curbside pickup, and closing on Thanksgiving Day. Shopping was earlier this year with the biggest gains coming the two weeks before Thanksgiving, and turkey sales peaking the week ending 15 November. However, beef sales grew more than turkey sales, probably reflecting different choices for smaller Thanksgiving gatherings. Also, travel restrictions and hesitation to travel drove more retail spending versus food service spending that is normally associated with holiday travel...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.