On 16 October, WPI reported that USDA was poised to create a new export promotion program, the Regional Agricultural Promotion Program (RAPP). The program was announced today by USDA. As noted previously, Senate Ag Committee Chair Debbie Stabenow (D-Michigan) and Ranking Member John Boozman (R-Arkansas) wrote to Secretary Vilsack earlier this year asking USDA to dip into CCC funds for supplementing export promotion. We originally reported that USDA was planning to spend $1.4 billion from the CCC’s approximately $33 billion in funds; today’s announcement confirms that the amount is $1.3 billion. This new program will offset the loss of the Ag Trade Promotion (ATP) program which was created as part of the...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.