A total of 79,000 cows has been added to the dairy herd since last December, which compares to 81,000 head added to the dairy herd over the same period in 2025. This similarity in herd expansion numbers in early 2025 and 2026 has kept dairy cow slaughter at the same level in each of the two years, but that could change going into the second half of 2026. Income from milk relative to feed costs peaked in the second half of 2024. Returns moderated into the first quarter of 2025 but were still excellent. Another drop-off in returns happened last spring but were still at favorable levels entering the last quarter of 2025. Since then, returns have fallen to levels that discourage adding more cows to the dairy herd and the expansion will sl...
What You Need to Know Today: The U.S. struck Iranian military targets for the second time this week. During a cabinet meeting, President Trump said that the Strait of Hormuz is international waters and will be open to everybody, which appears to be wishful thinking. Control of the Strait...
Responsible Use of AI WPI does not have an encyclical on AI but since it employs real human analysts there is a view towards the technology. In short, it is a tool that should be used responsibly. AI analysis is not bad unless it is the default. It has advanced to the point that it is no longer...
Dry bulk markets are steady/firmer this week with Capes leading the rally and, on the other end of the vessel size spectrum, strong grain demand supporting Handysize vessels too. Capesize rates soared again this week on strong Australian miner buying that stemmed from accelerated Chinese...
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.