Inflation rose at 0.1 percent in August, against the market’s expectation of a 0.1 percent drop. For the year, inflation is up 8.3 percent since August 2021, which is a slight decline from the June record of 9.3 percent and the July 8.5 percent.
Food inflation was up 0.8 percent on the month – the eighth consecutive monthly increase. On a year-over-year basis, food was up 11.4 percent, the largest 12-month increase since May of 1979. Food at home was up 13.5 percent year-over-year, while food away from home was up 8 percent.
Fats and oils and sugars and sweets lead the increases in the food at home category; meats and poultry decreased from previous highs.
In the protein category, there wer...
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...