Congress has a busy December ahead of it, including keeping the government open and increasing the Treasury Department’s borrowing authority. As it stands, Congress is scheduled to go into recess a week from Friday, but that is not likely to happen, and instead could be in session right up to 24 December, i.e., Christmas Eve.
The current Continuing Resolution expires on Friday of this week; it will have to be extended or Congress will have to pass a funding bill that extends through the end of the fiscal year on 30 September 2022. The latter is unlikely as the two parties have not been able to agree to a yearlong appropriations bill. The federal government is currently functioning at levels agreed to during the Trump administration...
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...
