The average cost of 40 basic food items decreased for the second quarter in a row in 2018, although food prices increased slightly for the year.  Kentucky Farm Communications Director Todd Bright discusses the final Market Basket Survey for 2018, what increased, what decreased and how much of the price of food makes it back to the farm.

The Kentucky Commodity Conference will celebrate its 25^th anniversary this week in Bowling Green with a variety of topics on the program for Thursday, January 17.  Kentucky Corn and Small Grain Growers Executive Director Laura Knoth talks about the speakers, the topics they will cover, the awards ceremony and a special 25^th anniversary celebration.

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Cattle producers from across the state will gather in Owensboro January 17 and 18 for the annual Kentucky Cattlemen’s Convention.  Executive Director Dave Maples previews the convention, the guest speakers, the topics that will be covered and the hall of fame induction ceremony. 

American Farm Bureau members will discuss and vote on a number of resolutions during the 100^th annual meeting this week in New Orleans.  Kentucky Farm Bureau President Mark Haney discusses the American Farm Bureau resolutions process, what policies are being considered and why they are important for Kentucky.

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CBOT futures closed higher with corn and soybeans near the day’s highs.  Futures were supported by a weaker US Dollar, some type of agreement with China to make U.S. purchases (no specifics announced), and unfavorable weather in South America.  Cattle futures closed slightly lower, as traders paused following Tuesday’s sharp gains.

Quarles Hails Move to Help Farmers Affected by Unfair Foreign Tariffs

The most recent Kentucky Farm Bureau (KFB) Marketbasket Survey indicates a slight decrease to the overall cost of food in the fourth quarter of 2018. However, the average marketbasket price showed an overall increase for the year, going from $115.07 in 2017 to $116.92 in 2018. The final 2018 survey is still lower than the final marketbasket of 2016 which was $118.87.

The grain and soy futures closed narrowly mixed on a lack of fundamental news.   Cattle futures closed moderately higher after opening this morning slightly lower.  Lean Hog futures closed slightly lower through the August LH contract.