Global food prices continue to drop but still remain significantly higher than a year ago.
Today’s FAO Food Price Index showed a steep drop in July of nearly 9 percent, but they are still 13 percent higher on the year. The July decline was the most drastic since 2008.
Vegetable oil and cereals came down significantly. Sugar, dairy, and meat also fell, but to a lesser extent.
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Border closures tied to the threat of New World Screwworm continue to stall Mexican fed cattle imports, tightening U.S. feeder cattle supplies over time — triggering feedlot closures that hinder herd rebuilding efforts, threaten the beef supply chain, and shrink production while consumer prices stay elevated.
The debate now matters as much as the policy — market rules and regulatory clarity depend on whether Congress can finish the bill this year.
Domestic beef demand remains solid, with the strongest growth occurring through retail channels, according to consumers surveyed in the latest K-State Meat Demand Monitor.
