There is still a lot of head scratching in the pork markets to try to understand the potential impacts of California’s Proposition 12. Some clarity was brought by California’s decision to not enforce the requirements for pork products already in the pipeline. As of 1 July, any new pork product harvested and processed must be Proposition 12 compliant, however, inventories existing prior to 1 July can be sold through the end of the year. That will make the USDA Cold Storage report for inventories of total pork, and especially primals, as of 30 June, a very interesting report. Meanwhile, there is somewhat of an overlooked issue in implementing Massachusetts Question 3. Massachusetts actually passed its referendum on sow hous...
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.
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...