💸 It seems shoppers around the world will pay even more for groceries this year than they did in 2022, according to retailers, consumer goods firms and investors, unless commodity costs decline or the shift to cheaper store-brand products accelerates.
• Retailers have been stuck in tough price negotiations because of supply chain disruptions due to the pandemic and the Ukrainian war. So prices are set to be raised to offset higher production costs – yet to be fully passed on to consumers....
👀 Ingredient analysis is critical and wet chemistry is the gold standard. However, it’s labor, time, and cost-intensive. But there can be a way out… Near-infrared spectroscopy (NIR) can provide an alternative or partial replacement!
• It’s a tool for testing feedstuffs for nutrient composition that can be used to measure multiple factors and provides quick and accurate analyses at a minimal cost.
✅ As an example, NIR provides a reliable understanding of the nutrient profile of corn DDGS,...
🛡️ Is there a party goin' on right here?? The USDA's Animal and Plant Health Inspection Service (APHIS) is celebrating the agency's many successful efforts to protect American agriculture and natural resources over the past year.
• Here are the good accomplishments we have to celebrate: responding to the highly pathogenic avian influenza; protecting crops and natural resources from invasive pests and diseases; supporting animal disease preparedness and response activities, including campai...
🎙️ United we stand indeed: during his State of the Union Address, President Biden praised leaders from both parties for passing several bipartisan pieces of legislation, along with making a point of mentioning how a divided House leads nowhere and underscoring how important it is to work together in the Congress.
📃 Despite all hurdles, a bipartisan bill that targeted foreign shipping companies and helped farmers by reducing shipping costs by 90% was signed last year. Also, the National Pork Pr...
🇨🇳 China’s top economic planner said this week that the Asian giant will stockpile pork, the country’s staple meat, to replenish state reserves. The commission said it would work with relevant departments to start the stockpiling efforts immediately and guide local governments to purchase pork.
• As part of a plan for stabilizing the national pork market, China has introduced a three-level early-warning alarm for excessive ups and downs in hog prices – and it’s going off… Get more details...
🐷 Chicago Mercantile Exchange (CME) hog futures ended firmer earlier this week after hitting their lowest in more than a year, while cattle futures fell and snapped an 11-session streak of gains after hitting their highest in more than seven years.
• Some signs of weakness in the cash markets and concerns about profit margins have added pressure to the scenario. To better understand the situation and read all the numbers, check this out.
📉 Despite the rise in fertilizer and fuel prices, net farm income hit a record in 2022. However… USDA ERS says there’s some stuff we need to keep an eye on: forecasts show that net farm income can fall nearly 16% this year.
• The USDA’s first official net farm income forecast of the year shows higher costs will drive down 2023 net farm income, but the greatest factor is the forecast for a decline in commodity prices.
👀 If commodity prices can at least remain steady, the picture won’t se...