Lean hog futures continued their beatdown today while feeder cattle were similarly lower. Live cattle futures managed an unconvincing higher close but remain under pressure. Technical resistance worked against wheat futures today and soybeans fell in another day of active selling. Corn, as usual, didn’t do anything interesting as traders wait for tomorrow’s USDA reports. Outside markets are higher, though not offering much support to the ag complex. The S&P 500 and Dow are both in positive territory, apparently having decided a one-day selloff was good enough for now. The VIX index is back below 10 again (last quote at 9.74) as traders feel comforted by higher equity prices. The Dollar Index is off 51 points to 91.84...
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...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.