The news and political talk shows have been abuzz about whether the economy is in a recession, moreover, it has become political, with some Republican politicians and conservative commentators, almost giddy that the GDP contracted two quarters in a row, and some Democrat politicians and liberal commentators arguing that the economy is not in a recession – necessarily now. First, the two quarters of negative GDP is a rule of thumb; when it happens there is almost always a recession. But it is not, as we’ve heard on TV, the “technical” definition of a recession. In 2001, there were three consecutive quarters of negative GDP before the recession was declared. The actual technical definition is maintained by the Bureau...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
USDA’s monthly cattle on feed report was released today, along with the semi-annual cattle inventory report. The total number of cattle on feed in feedlots with a capacity of 1,000 head or more amounted to 11.4 million head, or 102 percent of last year. All cattle and calves totaled 94.2...
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.