USDA forecasts that global sunflower oil imports will decline in 2020/21 but that may not be the outcome for a few reasons. One is the impact of the coronavirus lockdown, which has reduced the use of palm oil and soyoil by restaurants/HRI at the same time consumers prefer using higher quality oils at home. Second is the recent trend toward greater sunoil consumption, which has been expanding at nearly 5 percent per year since 2010. Ignoring coronavirus impacts, there is no clear reason why sunoil consumption should reverse when global sunflower production is concurrently forecasted to be rising by nearly 2 MMT this year. Sunflower oil has several functional benefits, including high smoke point, longer shelf life, neutral flavor and l...
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.