The CBOT opened with some minor short-covering activity as traders assessed the odds of a “turnaround Tuesday” getting underway. Early support in U.S. equity markets helped move CBOT markets into the green as well. Notably, livestock futures continued their volatile trade and started the day with strong, early gains and closed at or near their daily price limits. Corn futures fell sharply while wheat and soybeans found some modest support. A development to watch in the cattle markets is the abnormally large number of fed cattle offered for sale in tomorrow’s Fed Cattle Exchange. The Exchange has over 4,500 head listed, nearly 10 times the (WPI-estimated average weekly volume. The cash markets will be closely watchin...
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
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.