Dec 19 Corn closed at $3.6675/bushel, down $0.0325 from yesterday's close. Dec 19 Wheat closed at $5.155/bushel, up $0.035 from yesterday's close. Jan 20 Soybeans closed at $9.05/bushel, down $0.065 from yesterday's close. Dec 19 Soymeal closed at $299.8/short ton, down $2.2 from yesterday's close. Dec 19 Soyoil closed at 31.2 cents/lb up 0.24 cents from yesterday's close. Feb 20 Live Cattle closed at $125.475/cwt up $0.425 from yesterday's close. Jan 20 Feeder Cattle closed at $144.075/cwt up $0.05 from yesterday's close. Feb 20 Lean Hogs closed at $66.775/cwt down $2.85 from yesterday's close. Jan 20 WTI Crude Oil closed at $57.05/barrel up $1.7 from yesterday's close. ...
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.