Today’s WASDE forecast for total red meat and poultry production was down from last month based on a slightly higher beef production forecast, but more than offsetting pork and poultry. As we have discussed recently, the number of cattle on feed in March was a monthly record for the second consecutive month with a record on-feed inventory, and in January the on-feed inventory was the second highest on record, after a monthly record for placements in December 2021. Placements have been higher as well, and non-fed cattle slaughter is running high this year. This is all supporting higher beef production forecasts. As for pork, the total inventory of hogs and pigs was at its lowest since June 2018. Further, farrowing intenti...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.