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: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
