Among the major animal proteins, beef has the highest share (18.5 percent) of production that moves into international trade. This is likely due to the fact that there are few beef producing countries with an exportable surplus. Dairy is second at 17.8 percent exported, poultry third at around 12 percent and pork is fourth with 10 percent of its production moving into global commerce. However, the change in trade share over time is quite different. Global poultry exports have been relatively flat, likely because governments seek to protect their producers of this low-cost product. Dairy exports have not done much better, growing at an annualized rate of a half percent over the past decade. Instead, the fastest growth has been i...
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...