According to yesterday’s Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), overall consumer prices were unchanged in July, that does not indicate that inflation is over. On a year-to-year basis, inflation in July was up 8.5 percent from July 2021. Excluding energy and food, the “core” prices that the Fed monitors increased 0.3 percent in July, for an annualized year-ago increase of 5.9 percent. Below shows the overall CPI inflation rate year-over-year for each month of 2022 compared to the last five years’ annual rate of inflation.
Essentially the June spike in energy prices was eliminated from the monthly change in CPI. Energy prices, which dropped 4.6 percent in July (after a 7.5 perc...
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...
