With all of the focus directed to the release of USDA's planted acreage estimates next Tuesday, the 1 June quarterly stocks reports, which will also be issued the same day, may not be receiving the pre-report attention they deserve.Almost anyone with a vested interest in U.S. agricultural production, ranging from producers themselves to retail food market analysts, is aware that USDA will release its June estimates of planted acreage for corn, soybeans and other spring planted crops next Tuesday, 30 June. Considerable tension has been building as a result of the excessively wet weather that has plagued the Midwest and Mid-South crop production areas that has affected planted acreage, especially that of soybeans. Will SRW be harvested in tim...
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.