USDA release its Food Expenditure series data today through 2021. It is interesting data to look at given the current inflationary environment for food and the COVID pandemic and other perceived trends. The chart below shows the total consumer spending purchases for the “food at home” category is up by 15.7 percent versus purchases from various outlets.
Grocery sales, club stores, farmers markets, and direct sales from manufacturers (think meat locker plants, specialty and fancy foods - or more generically, local food) all rose around the same 13 to 14 percent, somewhere under the average. Other categories not included in the above chart were “other” stores (also up about 14 percent) and convenience stores (up abo...
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...
