USDA released its monthly Cold Storage report today, which showed a steady supply of proteins. It indicated the following as of 31 March:
Chicken was down 3 percent from February but up 14 percent from March 2017. Beef was up 1 percent from the previous month but down slightly from a year ago. Pork supplies were up slightly from the prior month but up 12 percent from last year.
These freezer inventories are consistent with the general outlook for food inflation in 2018. However, price levels at the end of the year could still be lower than 2015 because of deflation in 2016 and 2017.
Wholesale beef prices have remained stronger than expected so far this year, but promotions are keeping a check on retail prices. As noted ye...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
