Terrain Senior Analyst Matt Erickson focused on the economic state of the dairy industry at the Central Plains Dairy Expo. The war in the Middle East and $100 crude are having their impact. “I think it puts pressure on the 10-Year Treasury,” said Erickson. “Even though the Fed is under a rate-cutting scenario, the 10-Year (Treasury) is still staying elevated. I think what is driving this stickiness in the 10-Year is inflation.” As expected, the Federal Open Market Committee made no changes to the benchmark interest rates on Wednesday. Inflation continues to increase and Erickson said farmers will see that reflected in their interest rate costs.
