“Mixed” is the word for the CBOT/CME trade on Tuesday with wheat forming technical reversals and settling lower while corn posted strong technical gains and soybeans were up fractionally in low-volume trade. Cattle futures saw a technical upside breakout that should see strong follow-through buying this week and take the market to new trading range highs. Conversely, lean hog futures see trouble brewing in the cash market and pushed to new, post-Hogs and Pigs report lows. Trouble seems to be arising in China’s feed and grain markets, despite assurances from Party officials. Specifically, China is starting its wheat auctions early this year and on Monday sold 891,938 MT of wheat (88.5 percent of offerings) in its fir...
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.