CME cattle futures have grabbed the attention in the U.S., but in China, hog futures are the focus. January hog futures on the Dalian exchange are at a new contract low of ¥14.07/kg which is down about 4 percent. March futures are down about 3 percent with higher volume and a 10 percent decline over 10 trading days. MARA reported October hog slaughter at 28.7 million head, which was up more than 3 percent from September and 36.7 percent compared to October 2023. For the January through October total, slaughter in 2023 is 271.1 million head, which is 17 percent above the same period in 2022. The volume of hog futures saw a huge year-over-year increase in November, up 163 percent, at a volume of about 19 percent over t...
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.