World food price in August the lowest since February 2021

FAO’s Food Price Index (FPI) fell 2.1 percent in August to 116.7 (adjusted for inflation), down 13.3 percent YOY and its lowest level since February 2021.  Among the component indexes, only the sugar index rose in August, up 1.3 percent from July.  The cereal [...]

Consumer price index for foods up 7.1% YOY

The Consumer Price Index (CPI) for food rose 0.3 percent in July and was reported up 4.9 percent YOY, per ERS. Food away from home is reported up 7.1 percent YOY, with inflation for food at home half that at 3.6 percent. (Note that [...]

Global dairy prices collapse, forestalling domestic price recovery

Although the North American flush is over and both milk productivity and the herd are declining across the United States, weak international dairy complex prices are tempering bullish sentiment domestically. Demand from Asia, China in particular, has been weak and as buyers retreat from [...]

June CPI up 0.1% for all food down 0.1% for food at home

ERS estimated the Consumer Price Index (CPI) for all food up about 0.1 percent in June, nearly flat on a minimal drop of 0.1 percent in the price of food at home mostly offset by a more aggressive appreciation of 0.4 percent for prices [...]

Nonfat dry milk inventories continue to trend lower

The August dry products report showed the fourth consecutive decline in human nonfat dry milk inventories, falling another 4 million pounds to 296 million across the country. Amidst a backdrop of increased culling, depressed dairy prices, and scorching summer temperatures, the U.S. dairy industry [...]

Heat & culling pose double whammy to June milk output

On Jul. 20, USDA released its July milk production report, summarizing dairy statistics through the end of June or first half of 2023. In the month of June, dairy farmers culled 16,000 head from the total domestic herd and essentially wiped out any gains in [...]

Nonfat dry milk inventories resilient, but facing challenges in latter half of 2023

So far, 2023 has been marked by consistently solid inventories of most dairy products and a general softening in prices. The most recent dairy products report showed manufacturers’ stocks of human-grade nonfat dry milk (NFDM) at 300 million lbs. This is just about the [...]

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