Food costs jumped last month, and it is not just eggs that are taking a bigger bite out of your pocket.
Yesterday’s CPI report showed the cost of cooking meals at home jumped half a percent last month. On the year, grocery prices are up just shy of two percent.
Eggs have been more expensive recently, but meats also saw a jump. Bacon now costs four percent more than last month and is up six percent on the year. Beef also saw a rise, gaining five-and-a-half percent on the year.
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Record milk output looks strong today, but shrinking replacement numbers mean future supply adjustments could be faster and more volatile.
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Strong blending demand continues to support ethanol use even as production and exports fluctuate.
UT Extension also offers tips to help consumers stretch their grocery budgets, including meal planning, sticking to a shopping list, and choosing store or generic brands.
Early indications suggest the U.S. cattle industry may be nearing the end of its liquidation phase. Oklahoma State University livestock economist Dr. Derrell Peel says the industry could be at or near the cyclical low.
