USDA announced yesterday the details of a $10 billion package of disaster loss crop payments passed by Congress last year; the plan passed in September (which is actually this fiscal year) provided $9.25 billion for crops and $750 million for livestock. At a hearing of the Senate Agriculture Appropriations subcommittee last week, Secretary Vilsack promised the details of the program this month and indicated payments would begin in June. Last month, USDA began distributing the Emergency Livestock Relief Program (ELRP) payments, based on 75 percent of the Livestock Forage Disaster Program (LFP) program. USDA received applications for $670 million in LFP payments due to drought conditions in 2020 and 2021; the ELRP payments will s...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
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.