Federal Reserve Chairman Jerome Powell delivered his address to the Federal Reserve’s annual policy conference in Jackson Hole, Wyoming. It was short, direct, cautionary, and hawkish. The key points were:
The Fed has an “overarching focus right now to bring inflation back down to our 2 percent goal” via “… forceful and rapid steps to moderate demand so that it comes into better alignment with supply.”
Lower month-month inflation in July “… falls far short of what the Committee will need to see before we are confident that inflation is moving down.”
The Fed, in looking at “high and volatile inflation of the 1970s and 1980s, and from the low and stable inflation of...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
