The biggest drawdown of pork stocks in cold storage of any December has spurred producers to reiterate the importance of trade. Meanwhile, a forecast of U.S. chicken wing consumption during the Super Bowl has been released. Further Evidence of Strong Pork Demand The assessment here last week that the fundamentals of an increasing swine herd on top of 2016’s record pork production with relatively stable hog prices were evidence of strong pork demand, both domestically and in the export market, has been bolstered by this week’s USDA Cold Storage report. It showed frozen pork supplies totaled 477.2 million pounds, 8 percent less than the previous month and down 13 percent from last year. Stocks of pork bellies were 4 percent lower than last...
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...
From WPI Consulting
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.