World Perspectives
livestock

More Placements, Fewer Marketings, Bearish Cattle on Feed Expected

The cattle and beef markets need clarity. The last Cattle on Feed report was fundamentally bearish, but prices have only gone higher since then. Packer margins are near record highs for this time of year, while cash cattle prices are near seasonal lows. Feedlot margins are theoretically in the red, but feeder calf values continue to rise (thanks, partly, to cheaper corn). Beef exports are relatively robust, but domestic demand remains flat overall. So, the present situation seems full of contradictions that Friday’s Cattle on Feed report may resolve. This analyst’s models suggest the 1 September total cattle on feed inventory will be up from last year with placements and marketings lower. To analyze the report’s likely fi...

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Summary of Futures

Mar 19 Corn closed at $3.7475/bushel, up $0 from yesterday's close.  Mar 19 Wheat closed at $5.0425/bushel, down $0.0275 from yesterday's close.  Mar 19 Soybeans closed at $9.075/bushel, up $0.04 from yesterday's close.  Mar 19 Soymeal closed at $306.5/short ton, up $1 from yeste...

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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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