While the quick cold snap that occurred this weekend over the U.S. hard red winter wheat region had been forecast, the problem was that actual temperatures were 5-10 degrees colder than predicted and lasted three to six hours in most areas. WPI has written several times over the last month about the much above-normal temperatures across the U.S. hard red winter wheat region for the past four to six weeks and how that has pushed the crop out of dormancy. We had also said this wasn’t a big deal unless a cold snap dropped temperatures well below freezing. That’s exactly what happened across nearly that entire region Saturday night and Sunday morning. This quick cold snap had been forecast, but the problem was that actual temperatures were 5-10...
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
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.