While the March WASDE report projected U.S. beef consumption will increase for the first time since 2006, the U.S. cattle herd is also expanding after reaching 60-plus year lows in recent years, a trend likely to continue.The March World Agricultural Supply and Demand Estimates (WASDE) report projected U.S. beef consumption will increase for the first time since 2006 to 54.3 pounds, up a half-pound from last year. The primary reason for this: price.After reaching 60-plus year lows in recent years, the U.S. cattle herd is also expanding. The total inventory stood at 92 million head on 1 January, according to the National Agricultural Statistics Service (NASS). This is the first time it exceeded 90 million since 2012 and the biggest year-over...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.