May 24 Corn closed at $4.3925/bushel, down $0.015 from yesterday's close. May 24 Wheat closed at $5.5475/bushel, up $0.08 from yesterday's close. May 24 Soybeans closed at $11.925/bushel, down $0.195 from yesterday's close. May 24 Soymeal closed at $339.1/short ton, down $5.2 from yesterday's close. May 24 Soyoil closed at 47.64 cents/lb down 1.15 cents from yesterday's close. Jun 24 Live Cattle closed at $182.9/cwt down $1.6 from yesterday's close. May 24 Feeder Cattle closed at $253.775/cwt down $4.3 from yesterday's close. Jun 24 Lean Hogs closed at $99.7/cwt up $0.4 from yesterday's close. May 24 WTI Crude Oil closed at $80.63/barrel down $0.44 from yesterday's close. ...
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.