USDA released its monthly Cold Storage report today, which showed a steady supply of proteins. It indicated the following as of 31 March:
Chicken was down 3 percent from February but up 14 percent from March 2017. Beef was up 1 percent from the previous month but down slightly from a year ago. Pork supplies were up slightly from the prior month but up 12 percent from last year.
These freezer inventories are consistent with the general outlook for food inflation in 2018. However, price levels at the end of the year could still be lower than 2015 because of deflation in 2016 and 2017.
Wholesale beef prices have remained stronger than expected so far this year, but promotions are keeping a check on retail prices. As noted ye...
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