World Perspectives
livestock

Exports to China: Cold Storage and COVID Containment

Record Pork Draw on Cold Storage Stocks Yesterday, USDA released the monthly cold storage report. As of 1 June, inventory of pork in cold storage was 467 million pounds, 76 percent of 1 May and 26 percent of a year ago. That was a record draw down and inventory is at its lowest since 1 September 2011. As Matt Herrington noted yesterday, that is another sign of the impact that COVID is having as stocks were not being replenished.   Beef was 87 percent of last month and 102 percent of last year, while chicken was 92 percent of last month and 103 percent of last year. For dairy, cheese was 98 percent of last month and 102 percent of last year while butter was 102 percent of last month and 121 percent of last year. The draw on pork...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.365/bushel, down $0.0825 from yesterday's close.  Sep 20 Wheat closed at $5.2475/bushel, down $0.0925 from yesterday's close.  Nov 20 Soybeans closed at $8.7525/bushel, down $0.155 from yesterday's close.  Dec 20 Soymeal closed at $291.7/short ton, down $...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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