World Perspectives

Beef with Oil; Carbon Trouble

Beef with Oil The Biden Administration dislikes the oil industry as much or more than Big Beef. After stating the goals of ending drilling on public lands, blocking some new pipelines and then watching fuel prices skyrocket, White House Chief of Staff Ron Klain talked about banning oil and gas exports. Notably, oil exports rose by 2 percent in 2021 and liquified natural gas by 12 percent. But U.S. beef exports were up 16 percent in volume and 39 percent in value. However, unlike oil and gas, beef exports would be covered under the Contract Sanctity provision enacted into law following the grain embargo against the Soviet Union. It would require the President to declare a national emergency to stop beef exports and require the honoring of a...

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Dec 22 Corn closed at $6.12/bushel, up $0.0175 from yesterday's close.  Dec 22 Wheat closed at $7.805/bushel, down $0.2225 from yesterday's close.  Nov 22 Soybeans closed at $13.9/bushel, up $0.09 from yesterday's close.  Dec 22 Soymeal closed at $400.6/short ton, up $4.5 from ye...

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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.

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