We’ve moved past Memorial Day, this weekend is Fathers’ Day, and it will soon by the 4th of July Independence Day holiday – all prime time events for retail beef demand. Moving into this high demand season, beef has held up remarkably well. May retail prices were the third highest on record, behind only October and November of 2021 when there was an extra $21 trillion of personal income in the economy due to COVID payments and extended benefits. When consumers have more to spend, beef is among the food purchases that increase. But now the dynamic is wages failing to keep up with inflation and yet consumers are still paying up for beef. Note the choice cutout was up another $1.07/cwt yesterday and has bee...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.