Macroeconomics Food Prices See Their Smallest Increase n Nine Months The Year of the Rabbit kicked off with a sharp reduction in food inflation, as the average cost was up just 2.6 percent in February from a year ago. The oversupply of live hogs has resulted in a sharp correction to pork prices, which rose last month by just 3.9 percent year-on-year. Similarly, the cost of fresh vegetables climbed by a mere 3.8 percent after an uptick in January of 6.7 percent. The other major categories also seeing a slowing in rising costs include fresh fruit, milk, eggs, and cooking oil, which were up from a year ago by 8.5 percent, 1.5 percent, 7.8 percent, and 6.4 percent, respectively. Along with the costs of food, consumer prices for o...
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...