The White House released the President’s Budget today; it is a $6 trillion dollar package that picks up where the COVID pandemic relief spending left off. For context, the pre-pandemic budget proposal for FY2021 was $4.9 billion. That got blown up by COVID relief spending. Below are three charts to show the scope. First, total federal outlays to date and proposed under the federal budget.
Second, revenue to the Federal government by source by percent. In 2010, taxes (personal, corporate, and excise) were about 54 percent of federal revenue, in 2021 they were about 57 percent, and by 2026 they are projected to be 64 percent. The balance is Social Security receipts, federal trust income, and interest income.
And third, USDA...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Total Red Meat & Poultry September 2026 total red meat and poultry stocks totaled 1.97 billion pounds, down 1.4 percent from August despite typically increasing 0.8 percent during the month, and were 1.5 percent below September 2025 levels. The decline pushed total inventories to a new five...
