The U.S. Bureau of Economic Analysis (BEA) reported Friday that Q1 2022 GDP dropped 1.4 percent and the Q4 2021 GDP was revised to 6.9 percent. Analyst’s pre-report expectations were for a growth of 1 percent.
The drop in GDP comes after the March consumer price index was up 1.2 percent in March over February, and 8.5 percent over March 2021. High inflation and negative growth is the definition of stagflation. The question is, how long will it last and will there be a recession? By definition a recession is two consecutive quarters of negative GDP. While the Q1 GDP numbers were not a positive development by any means, there are some signs that the stagnation in the economy might be “transitory” – to...
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...
