The EPA issued another short-term opportunity to comment on its proposed biofuel volumes, especially how to reduce the biodiesel mandate.EPA Administrator Scott Pruitt today signed a notice of data availability (NODA) that will be published in the Federal Register this week. The notice provides “additional data on production, imports and cost of renewable fuel” as well as “several options” for how that data may be considered under the current waiver authorities to reduce the biomass based-diesel volume, advanced or overall biofuel volumes for 2018 and 2019 under the Renewable Fuel Standard (RFS). The market for Renewable Identification Numbers (RINs) reacted to this development, dropping 20 percent from yesterday’s close and 25 percent sinc...
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.