USDA released its monthly Cold Storage report today, which showed a steady supply of proteins. It indicated the following as of 31 March:
Chicken was down 3 percent from February but up 14 percent from March 2017. Beef was up 1 percent from the previous month but down slightly from a year ago. Pork supplies were up slightly from the prior month but up 12 percent from last year.
These freezer inventories are consistent with the general outlook for food inflation in 2018. However, price levels at the end of the year could still be lower than 2015 because of deflation in 2016 and 2017.
Wholesale beef prices have remained stronger than expected so far this year, but promotions are keeping a check on retail prices. As noted ye...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
