Last week we noted that the U.S. Department of Labor (DOL) announced initial claims for unemployment benefits was 3,283,000, an increase of 3,001,000 from the previous week's revised level. That was a record, but a short lived one. Today, DOL reported that initial claims were 6.648 million, an increase of 3.341 million. In February, unemployment was 3.5 percent; tomorrow the March unemployment rate will be announced, but the survey was taken early in the month and so will not reflect the full extent of layoffs as a result of COVID related shutdowns of businesses in at least 23 states. This isn’t good for meat demand, especially as all the heightened retail demand earlier in the month has probably filled consumers’ home freezers...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.