The president released his proposed FY 2020 budget today. It provides another salvo in the border wall fight along with about $27 billion in cuts for USDA and farm bill programs as well as a boost of nearly $3 billion via inspection user fees for USDA agencies. The House and Senate Budget Committees will hold hearings on the president’s plan this Tuesday and Wednesday, respectively. The president is required by law (Congressional Budget Act of 1974) to submit a budget proposal to Congress. However, it is only a request and an early step that typically initiates a very small skirmish in a long process culminating in actual appropriations bills. In the past 20 years, those bills have often been rolled into large omnibus packages or, mo...
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
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.