There was a bearish lean in everyone's outlook for 2013 agricultural commodity markets (see graph below). Presumably, there is a bearish and volatile view toward the U.S. government getting itself neatly out of its current fiscal pickle. Here is the calendar of upcoming events:LH Feb/FH March: The U.S. Treasury Department will run out of maneuvering tricks to avoid hitting the $16.394 trillion national debt ceiling.March 1: The Budget Control Act requires the imposition of automatic (sequestered spending) budget cuts across government, implying -7.6 to -8.2 percent cuts for most non-defense programs.March 27: The current temporary continuing resolution funding the government for fiscal 2013 expires.So the government:
is about to run o...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: The tariff burden rose sharply in 2025 and 2026: the effective rate on imports in HTS Chapters 1–24 increased from 1.53 percent in 2024 to 6.11 percent in 2025, before averaging 5.68 percent in January–August 2026. Headline rates tell only part of the story: exemptio...
