We have a new read on inflation. The Consumer Price Index is lower than what the markets were expecting.
The Index for May increased by a tenth of a percent, and the markets were expecting a two-tenths of a percent increase. Over the last year, inflation has increased 2.4 percent, which is right in line with expectations.
Increases in shelter costs were the main driver in this month’s report.
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Reliable, clearly graded middle meats still anchor demand; programs that deliver consistent eating quality and simple, confidence-building menus capture more repeat visits—and more value—back through the beef chain.
Congress has just over a month of working days left for the year. Plan for uneven USDA service until funding is restored, and closely monitor Farm Bill talks, as avoiding Permanent Law before January 1 is the single biggest risk to markets and milk prices.
Beef demand could be influencing other economic sectors, as consumers adjust spending habits to prioritize higher-priced beef products.
