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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, December 18, 2024
USDA on Wednesday increased its forecast for agricultural imports for fiscal 2024, while projected ag exports remain unchanged at $170.5 billion, boosting the estimated U.S. ag trade deficit to $32 billion.
The cost of eating at home fell 0.2% in April after supermarket prices were flat for two straight months, helping offset continued inflation in housing and energy costs.
An index of world food commodity prices edged up in March after seven straight months of decline, largely driven by price increases for soybean and other vegetable oils.
A European policymaker and senior congressman debated ag policy during USDA's Ag Outlook Forum, and a top ag economist opined that farmers are in position to handle the downturn in commodity prices, for this year at least.
The UN Food and Agriculture Organization’s index of global food commodity prices eased again in January, led by lower prices for grains and meat, and is down 10.4% from a year ago.
Grocery prices rose just 0.1% in December for the second month in a row and are up 1.3% year over year as food inflation continues to moderate, according to the latest Consumer Price Index.
Prices for globally traded food commodities fell in August on declines in the cost of dairy products, vegetable oils and other products, reversing an increase the month before.
Supermarket prices ticked up 0.3% last month, driven by a jump in the cost of beef as well as increases for some fruits, vegetables and dairy products, according to the monthly Consumer Price Index.
