Turkey production in August totaled 434.7 million pounds, slightly above July production but down 11 percent year-over-year. August slaughter was down 15 percent year-over-year, but heavier weights in August (32.25 pounds) offset the reduced slaughter. Based on the August production data, estimated Q3 production was adjusted down by 20 million pounds to 1.270 billion pounds. Fourth-quarter projection is unchanged, and total annual 2024 production is projected at 5.110 billion pounds, a drop of 6.4 percent from 2023. Turkey poult placements totaled 20.3 million in August, a decrease of 9.6 percent year-over-year. This was consistent with July, when poult placements were also down about the same level year-over-year. Poults placed in Jul...
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.