Federal spending is still front and center, and it is also an election year. The best bet for this year is that there will not be a congressional budget.
The Federal Budget and Impoundment Control Act was enacted by Congress in July 1974 as a response to President Nixon simply taking appropriation matters into his own hands and refusing to spend monies as Congress had designated and authorized. That is also when the federal budget moved to a fiscal year starting with a transition quarter in FY 1976. Since that time, the federal budget has grown about 987 percent (as shown below). Over that same period, inflation has increased about 335 percent. In other words, federal spending in real terms has expanded approximately 295 percent.The pres...
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...
