It was a big day for market-moving reports with the WASDE report (see Matt Herrington’s analysis) and the Consumer Price Index (CPI) report from the Bureau of Labor Statistics (BLS). The CPI for food at home was up 1.4 in May, the fifth consecutive increase of more than 1 percent. For the year, the index rose 11.9 percent – the largest increase since April 1979 during the great stagflation. All six major grocery store categories increased, with five of them up more than 10 percent
Note that Meat Poultry Eggs and Fish was driven by a 32 percent increase in egg prices due to HPAI. Energy was up 34.6 percent. All items excluding food and energy, i.e., the “core inflation” the Federal Reserve watches, was up 6...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
