U.S. wheat exports for 2017/18 are reduced 25 million bushels to 925 million, while ending stocks are raised by the same amount. Exports are lowered on reduced price competitiveness in some international markets. Hard red winter wheat and hard red spring wheat exports are reduced 15 million bushels and 10 million bushels, respectively. The season-average farm price is raised $0.05 per bushel at the midpoint of the range to $4.65 on NASS prices reported to date and expectations of higher cash prices for the remainder of the marketing year, reflecting the ongoing drought in the Southern Plains. ...
What You Need to Know Today: U.S. Treasury Secretary Bessent said the U.S. and Iran could “today or tomorrow” reach a deal to reopen the Strait of Hormuz. Despite the Secretary’s claims, an attack on a vessel off the Omani coast suggests plenty of risk remains in forming a lo...
Beef packer margins slipped modestly for the first time in four weeks, declining $15/head to -$78 as fed cattle prices firmed while boxed beef values continued to weaken. The Choice cutout eased another $2.63/cwt to $364.69, while dressed cattle prices fell only $2.76/cwt to $362.25/cwt, limiti...
Key Takeaways: Offal represents an important segment of global meat trade by adding value to underutilized portions of livestock carcasses and improving overall resource efficiency. Strong export demand for products such as pork variety meats and chicken feet allows processors to maximize carc...
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.