Retail price inflation continues to be an unwieldy political problem for the Biden Administration – especially prices at the gas pump and grocery shelf. This week the Bureau of Labor Statistics (BLS) reported the that the consumer price index (CPI) rose 0.3 percent in April over March, putting the annualized inflation rate at 8.3 percent over April 2021. In remarks during a farm meeting in Illinois – and a subsequent meeting with a labor union –President Biden blamed the pandemic and Putin. This week’s USDA release of retail meat prices shows that both pork and broiler meat are at record levels.
Beef prices are historically high, but not at the record levels achived in late 2021, except for grou...
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...
