The most recent U.S. Department of Agriculture’s “Cattle on Feed” report showed the feedlot inventory as of June 1 was 11.699 million head, almost unchanged from 11.671 million head on June 1, 2020. May marketings were 1.87 million head, up 23% year over year. Feedlot placements in May were 1.911 million head, down 7% from the same period last year. (Feedstuffs)

With talk of food inflation running rampant, consumers will be relieved to hear that they won’t have to shell out big bucks for this year’s Fourth of July cookout foods, according to the American Farm Bureau Federation. Farm Bureau analysis reveals that the average cost of a summer cookout for 10 people is approximately $59.50, or less than $6 per person. (Progressive Grocer)

Illinois farmers are dealing with a wide array of weather conditions depending on where they live in the state. Last weekend, areas of central Illinois received over 10 inches in a 72 hour period, and the rain has continued to fall. Some fields, especially those not equipped with drainage systems, are underwater. (The Center Square)

For the past year prices of beef have gone up in stores and at packing plants – but not at the farmer level. This week the Senate Agriculture Committee met in a hearing to examine markets, transparency and prices from cattle producer to consumer. The two-hour meeting included university researchers, cattle producers and market analysts to talk about the reasons this may be. (WHO)

Chicago corn rose more than 3% on Thursday and soybeans also rallied as lower-than-expected U.S. acreage estimates a day earlier fueled supply concerns as some crops faced hot, dry weather. (Nasdaq)

Due to the COVID-19 pandemic, 2020 was a year unlike any the restaurant industry has seen before. And yet, for one industry group, it was business as usual: As they do every year, the American Customer Satisfaction Index (ACSI) released their annual Restaurant Study and found that the pandemic may have helped satisfaction across the industry — especially for traditionally sit-down chains. (Food & Wine