Ocean freight rose 5% this week to $3,560 per 40-foot container. Freightos attributes recent Asia-Europe gains to carrier rate increases ahead of 2027 contract talks, though forwarders doubt they will stick.
Grain prices, meanwhile, declined. Soybeans hit a two-month low on Monday on harvest supply and weaker crude oil. December corn fell 12 cents to $4.55, and wheat dropped 39 cents to $6.16.
Boxed beef fell $4.15 to $370.55/cwt in USDA’s weekly cutout, a third straight weekly decline. Packer margins turned negative Friday, according to HedgersEdge, losing $4.10 a head against a $70.90 profit a week earlier.
Class III milk inched up to $15.29, and cheese blocks gained about 5 cents to $1.74. ISM Prices Paid remains at 77.9 until the October report arrives next week.
See where this week’s score and the full breakdown on the Input Cost Index page.
