In January, Korea’s tariff on U.S. beef will drop to zero as laid out in a long schedule as part of the 2012 Korea-U.S. free trade agreement. Prior to the agreement it was 40 percent, in 2025 it was at 2.6 percent. Korea has been a growing market especially for premium cuts of beef, with 2024 exports of 248,562 MT, worth $2.22 billion, making it the most lucrative destination for U.S. beef. Korea has also accepted a trade deal with the U.S. stemming from new tariffs imposed this year on Korean goods, and the tariff rate for imports into the U.S. at 15 percent. With that trade spat settled, and despite high U.S. beef prices and lowered volume, U.S. beef exports are up 8 percent this year January through August. That is the...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
From WPI Consulting
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.