July 2023 total red meat and poultry stocks were down from June and were 4.2 percent below July 2022 as beef and pork stocks continue to tighten. Once again, the big shock from the report was the decline in beef supplies that pulled red meat stocks down 13.5 percent from July 2022. Pork stocks were sharply lower as well and declined 10 percent year-over-year (YoY). Total poultry meat inventories fell 0.8 percent from June, below their normal seasonal increase, and were up 3.8 percent YoY. The report highlights the diverging trends for red meat and poultry stocks with poultry supplies increasing on industry expansion while multi-year declines in beef and hog herds are tightening supplies. ...
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.