Different policy impacts of different cabinet appointments create outsized contrasts to confirmation hearings. Elsewhere, the KC Fed focuses on agribusiness consolidation while China’s encouragement of industry clustering creates non-competitive pricing.
Job Impact and Difficulty USDA Secretary-designee Sonny Perdue is expected to sail to Senate confirmation despite a long delay, and reported ethics and business concerns. To quote the Politico headline:“Perdue had a long wait for a short confirmation hearing — and nailed it.” By contrast, Supreme Court nominee Neil Gorsuch is caught in a firestorm of politics due to the out-sized policy impacts of the position. Meanwhile, the next chair of the WTO’s A...
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...
