After going to four different grocery stores this past weekend looking for heavy cream and nearly coming up empty handed, it is confirmed that U.S. dairy supplies are tight. USDA initially proclaimed higher prices in 2022 due to larger exports, but those are running even with a year ago. Higher butter and cheese exports are offset by lower milk and nonfat milk powder exports. Overall U.S. dairy production is down one-half percent, but demand is strong. Meanwhile, Australia’s dairy production and exports have rebounded from last year’s drought. Diary-based food inflation hit 15.9 percent in September, versus 13 percent overall for food. U.S. dairy production in 2023 is forecast to rise while fat-based exports decline and s...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.