Tautological Rabbit Hole The COP28 meeting in Dubai came to an agreement on a loss and damage fund whereby rich countries help poor countries weather the adverse impacts of climate change. Funding will be voluntary and it will be run by the World Bank, presumably with the controls necessary to prevent the kleptocracy prevalent in poor nation governments. Then again, the U.S. Congress is unlikely to provide much funding lest their constituents think they care more about foreigners than domestic needs. We noted early this week that the FAO proposal in Dubai is for the rich countries to cut their meat consumption while poor countries boost theirs. Critics often blame agriculture for contributing a third of global emissions and 134 coun...
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.
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...