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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Expect firm calf and fed-cattle prices — pair selective heifer retention with prudent hedging and liquidity to bridge rebuilding costs.
The new antitrust agreement between the Department of Justice (DOJ) and the U.S. Department of Agriculture (USDA) aims to enforce antitrust laws and monitor market activity across the ag sector.
China is not one of our top suppliers of cooking oil, according to USDA ERS data, but does export a lot of used cooking oil to the U.S. for biofuel production.
Expect firmer shop prices, leaner inventories, and selective hiring in ag-adjacent businesses — plan parts, service, and financing needs earlier.
