The U.S. is the largest producer and consumer of turkey meat in the world. U.S. turkey production equates to 45 percent of the world’s total and while global trade is small, it is usually supplied by American producers. Production typically peaks in October as suppliers seek to fill the outsized demand of a single day, the Thanksgiving holiday in November. While the annual expansion in turkey production has been averaging 1.3 percent, production thus far in 2020 is down 1.33 percent from 2019. No doubt COVID has had its implications. At the same time, families will likely be gathering by Zoom this year, which means turkey demand will be spread across more households. This is likely to mean higher prices as a lower supply chases...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
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.