Ag Outlook for 2-12-2021
The Consumer Price Index shows food prices moving higher in January.
Last month meat prices did something they hadn’t since the middle of last summer as they rose by almost one percent. Carolyn Chelius, USDA economist was surprised by the increase in beef and veal as it was the first time that had happened since July. Pork and poultry prices were also higher in January.
Bottom line – Chelius says beef and veal prices are 6.4 percent higher than a year ago, pork prices are 5.2 percent higher and poultry is up 6.1 percent. Of the items covered by CPI only one, butter is less expensive than at this point in 2020 – butter. It was down about two and a half percent.
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