Livestock Live Hog Price Soars 3.6 Percent in Last Two Weeks of July China’s national average live hog price had another round of sharp increases to close out the month of July, rising RMB 0.64/kg ($0.09/kg) to RMB 18.48/kg ($2.68/kg) or RMB 0.29/lb. 0($.04/lb.) to RMB 8.38/lb. ($1.21/lb.) since 17 July. This marks the highest weekly price going back to mid-September 2016. Since the last week of June, the live hog price has climbed RMB 1.76/kg ($0.26/kg) or RMB .080/lb. ($0.12/lb.). That is a monthly increase of 10.5 percent, which will have a big impact on the monthly food inflation statistics for July as pork and vegetable prices generally account for the bulk of food costs. Guangdong Issues Pork Production Recovery Targets In r...
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...
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