SPREADS March crush trades top 1.08c/bu while oilshare moves into steady territory from lower at 33.70%. Bean spreads are still wide with Jan/March trading from 14 1/4c out to 15 1/4c. March/May beans trades from 14 1/4c to 14 3/4c. March/May meal narrows into $2.60 from $2.80, and from values that were over $3.00. March wheat/corn trades a narrow 1.46 1/4c to 1.47 1/4c. PALM OIL Feb up 40 ringgits and cash offers $28/mt higher. NEWS Stocks are higher up 52 pts extending gains on a strong jobs report. Employers added 266,000 jobs in Nov. and unemployment matched a 50-year low at 3.5% amid signs that the US economy is withstanding a global slowdown. Money flows unwi...
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.