Inflation has had a hold of the economy for nearly three years, and it is directly impacting how consumers navigate grocery stores.
A study by Purdue University shows inflation is causing more consumers to seek out deals, and they are switching to cheaper or generic brands. 56 percent of consumers reported their food prices have risen the most compared to other household expenses.
This month’s Consumer Price Index showed food inflation was up a little more than 2 percent on the year.
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Corn and soybean shipments continue to move at a steady pace as spring trade flows develop.
Growing milk supply may pressure prices ahead.
Bigger flocks are rebuilding egg and poultry supply.
Tight supplies are driving stronger early-year cattle prices.
Reported results include stronger in-season nitrogen response, average yield gains of more than seven bushels per acre and more than $18 per acre in net return.
Tony Adkins with Specialty Risk Insurance addresses current market challenges for farmers and ranchers and offers strategies to help producers navigate risk.
