Retail price inflation continues to be an unwieldy political problem for the Biden Administration – especially prices at the gas pump and grocery shelf. This week the Bureau of Labor Statistics (BLS) reported the that the consumer price index (CPI) rose 0.3 percent in April over March, putting the annualized inflation rate at 8.3 percent over April 2021. In remarks during a farm meeting in Illinois – and a subsequent meeting with a labor union –President Biden blamed the pandemic and Putin. This week’s USDA release of retail meat prices shows that both pork and broiler meat are at record levels.
Beef prices are historically high, but not at the record levels achived in late 2021, except for grou...
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...
