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: 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...
