Parting ShotsIn an interview with DTN, outgoing USDA Secretary Tom Vilsack expressed his long-running frustration that farm spending favors larger farms and that the number of farmers and acreage are shrinking. He says the farm bill is outmoded and needs to benefit more farmers and stop the rate of attrition. However, he never says what is the optimal number, just that he doesn’t like the trend. His embrace of “local” agriculture is as outmoded as the farm bill he deplores. To be for local food supplies and for international trade is contradictory. Vilsack is correct that U.S. farm policy needs change, but not in the direction he is suggesting. Government needs to get out of price guarantees for a handful of historical crops and instea...
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.