Picking a Venue There are real risks to the American economy from Mexico’s ban on GM corn for food and glyphosate. While most corn sold to Mexico is for animal feed and theoretically exempt, a small percentage of field corn goes into making cereal, corn starch, corn oil, and corn syrup that are used in food. The whole matter could devolve into a worse fiasco for the $1.1 trillion U.S. agrifood industry than the StarLink recall in 2000. StarLink had been approved for feed but not food use but was subsequently found in food. The only real choice for challenging the prohibitions by the Biden Administration is which venue to use. On the one-hand, the USMCA is more specific about procedures on GMO’s and science-based risk assessment...
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
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.