Analysts watching impact of inflation on markets

The latest information showed a slight easing in inflation, but levels still remain well above target levels. The Livestock Marketing Information Center said inflation can have impacts for meat prices and livestock markets.” , but still well above the target of 2%,” the marketing center said. “The meats CPI data was up 1.1% from the previous year, a much slower rate compared to the double-digit rates that were seen at the beginning of the year.”Poultry continues to see surging CPI data, with avian influenza remaining a concern. “Poultry CPI continues to track well above last year at 13.1%, a continuation of strong double- digit growth in poultry,” the LMIC said. In fact, January was the only month that did not see double digit growth (9.8%). The uncertainty surrounding Highly Pathogenic Avian Influenza will likely influence poultry prices in the near term.”Beef prices saw modest declines in November, the marketing center said. People are also reading… “Retail beef prices for November were down modestly from the prior month and last year,” the Livestock Marketing Center said. “The all-fresh retail beef price was $7.15 per pound, down 1.4% from a month earlier and 5.0% below last year. Choice retail beef price was $7.37 per pound, down less than one percent (0.8%) from October and 6.2% lower than 2021.” Ground beef prices were up 2.9% from a year ago, the only beef category above a year ago.Pork prices saw a decline from the previous month, but remained above year-ago levels.”Pork retail prices marked its first month over month decline this year falling 2.0% to $4.95 per pound,” the marketing center said. “Compared to a year ago, retail pork prices are still above a year ago by 2.5%, which is due to higher prices for most report prices.”Poultry prices also saw a slight decline in November, but remain well above a year ago. “Poultry prices moved slightly lower in November compared to the prior month,” the LMIC said. “The retail chicken price (whole fresh) was $1.84 per pound, down 1.1% from October but 16.4% above the month last year. The broiler composite retail price fell less than one percent from the prior month (0.6%) to $2.52 per pound but rose 14.1% from a year ago.” Be the first to know Get local news delivered to your inbox!

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