USDA raised its food inflation forecast from a 5% to 6% range year over year to 6.5% to 7.5%, according to the May Food Price Outlook report. For the second month in a row, eggs experienced the biggest increase from a 6% to 7% range to 19.5% to 20.5%. Just two months ago, USDA had egg inflation at 2.5% to 3.5% year over year.
2022 Avian Influenza Outbreak Devastating but Different From 2015
This year, more than 38 million birds in 35 states have been lost to Avian Influenza, closing in on 2015 when USDA reported losses of 7.4 million turkey’s and 43 million egg layers. Industry experts says that’s where the similarity ends.
Crucial Rains Finally Drenched Portions of Texas, Is It Enough to Save the State's Crops and Cattle?
Texas received crucial rains earlier this week. A dire drought already robbed the winter wheat crop, but recent rains are reviving farmers’ hopes of producing other crops this year.
