Yesterday’s surprise NASS reduction in stocks continued to reverberate through the market today but now eyes turn toward next week’s USDA WASDE report. While close was mixed today, there is still a bullish undercurrent as good demand runs into tighter stocks and uncertain weather. Overlaying this dynamic is the drop in the dollar and rise in the Chinese yuan. There is ample buying activity in the market as the industry is stocking up due to forecasts of a COVID-19 resurgence and farmers are selling, as they should be. A reduction in buying will be occurring in China as it celebrates a trifecta of holidays: Mid-Autumn Festival, Golden Week, and their National Day. The rapid pace in the U.S. harvest coupled with slowed acti...
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...
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.