Senators Jim Justice (D-West Virginia), John Fetterman (D-Pennsylvania), Shelley Moore Capito (R-West Virginia), and Michael Bennet (D-Colorado) introduced the Hot Rotisserie Chicken Act, which would allow Supplemental Nutrition Assistance Program (SNAP) participants to purchase hot rotisserie chicken with their benefits. Representative Rick Crawford (R-Arkansas) introduced companion legislation in the House. The Hot Rotisserie Chicken Act amends the Food and Nutrition Act of 2008 to modify the definition of food by adding “hot rotisserie chicken.” It only applies to eligible retailers, maintaining that SNAP will not be expanded to restaurants. Currently, cold rotisserie chicken can be purchased with SNAP benefits, but if it is...
Macro: Relief Meets Reality July’s CPI report matched expectations. Headline inflation eased to 3.4 percent year over year, while core inflation declined to 2.5 percent. On a monthly basis, headline CPI rose 0.1 percent and core increased 0.2 percent. Equities and the U.S. dollar traded h...
Key Takeaways: Corn yield came in below expectations at 180.7 bushels per acre, validating WPI’s view that last year’s exceptional yield may have anchored analyst estimates higher. Despite slightly higher production for corn, stronger export projections tightened the balance sheet,...
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.