10 votes

Beef Prices Hit All Time High

By David Pierson and Tiffany Hsu
April 8, 2014 - LA Times

Come grilling season, expect your sirloin steak to come with a hearty side of sticker shock.

Beef prices have reached all-time highs in the U.S. and aren't expected to come down any time soon.

Extreme weather has thinned the nation's beef cattle herds to levels last seen in 1951, when there were about half as many mouths to feed in America.

"We've seen strong prices before but nothing this extreme," said Dennis Smith, a commodities broker for Archer Financial Services in Chicago. "This is really new territory."

The retail value of "all-fresh" USDA choice-grade beef jumped to a record $5.28 a pound in February, up from $4.91 the same time a year ago. The same grade of beef cost $3.97 as recently as 2008.

The swelling prices are roiling the beef supply chain from rancher to restaurant.

Continue:
http://www.latimes.com/business/la-fi-beef-prices-20140406,0...

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Hmm if that's the case the

Hmm if that's the case the Fed might be put in a very interesting situation. I don't doubt that food prices are being effected by the weather and I'm sure the Fed will lay ALL the blame on the weather as well BUT won't people eventually start looking to the Fed for relief?

"temporary" there is no inflation

just eat genetically modified soy bean burgers

Please subscribe to smaulgld.com

In early 2011, the cost of a

In early 2011, the cost of a 30 lbs case of tuna fish was $32.55.

Today, that same case of tuna costs $56.75!

The drastic price increase happened about 3 or 4 months after what happened in Fukushima, Japan.

Provolone cheese avg. cost per pound in 2012 was about $1.85.

Today the price of provolone is $2.82 per pound.

In almost 10 years of business I never paid more than $2 a pound for mozzarella cheese. About 3 months ago, the price of mozz jumped to $2.85/lb!

The price increase in terms of percentages is HUGE...60% or more in the cheese market alone.

The price of Angus inside top round beef last year was about $2.39 per lb. Today, it's $3.49 per lb.

The price of corned beef brisket was so high this year, I had to stop selling it because I couldn't make a profit.

The cost of bacon has skyrocketed to the point where pigs can now fly. $25 for a 15 lbs case of bacon for almost a decade straight and today it costs $46.

Never be afraid to ask simple questions.

Cyril's picture

No offense, but you must have hallucinations.

No offense, but you must have hallucinations.

Our dear Federal Reserve System board members have been telling us for 5+ years they've got us covered with an inflation totally under control, at 1.5% only.

We're all good, they say. They should know!

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

When in doubt, just blame the

When in doubt, just blame the weather for everything.

From rising gasoline prices, to beef and cheese...it's always the weathers fault.

So why are beef prices really going up?

(Great subject, Diamond Dog.)

Because of nonsense like this:

Defiant Nevada rancher faces armed federal agents in escalating confiscation standoff

Since 1993, Cliven Bundy has been battling the agency, as well as the National Park Service, the Center for Biological Diversity and the courts, to graze his cattle on 150 square miles of Gold Butte scrub land in the Lake Mead National Recreation Area. He stopped paying his grazing fees back then, saying he “fired” the Bureau of Land Management as land manager.

http://www.bizpacreview.com/2014/04/09/defiant-nevada-ranche...

------------ Full article above.

When the government gets in the way, costs go up.

Obamacare is a great example.

Whether it's the health insurance business or cattle ranching, when the government sticks their inept, grossly inefficient and unqualified hands in places where they don't belong, prices go up.

Many people in government seriously believe they know how to run your own business better than yourself.

What does FAQ stand for?

Federal Armchair Quarterbacks.

Never be afraid to ask simple questions.

Ok, now it makes sense why

Ok, now it makes sense why the feds are trying to steal that family's cattle out in Nevada!

...

LOL... good call...!

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