A picture's worth a thousand ...
Posted on 02/01/2012 2:07:38 AM PST by Lmo56
PHILADELPHIA (CBS) -- At Cappuccio’s Meats in the Italian Market, the cuts of beef are cutting into the profits.
“Every week when I talk to my suppliers, I’m amazed by how much it’s going up,” said owner Domenick Crimi.
Beef prices soared more than 10 percent last year according to the Department of Agriculture, and they will likely go up at least another 5 percent this year.
“It bumps up a bit, comes down a tiny bit, then it bounces again, and when it bounces, it goes up another dime, 15, 20 cents,” said Crimi, “and sometimes that’s in a week.”
(Excerpt) Read more at philadelphia.cbslocal.com ...
A picture's worth a thousand ...
When Texas farmers and ranchers had to sell pregnant cows to be slaughtered last summer because there was nothing to feed them in the worst drought year in Texas history, everyone should have expected beef prices to go up. They will not come down until supply recovers, which may take a couple of years.
Hey, does anyone really care as long as the obama’s have steak and lobster readily available for themselves and their ladies and lords in DC? We are, after all, only talking about the peasants here who must suffer the consequences of bad policies.
A lot of this is being driven by increased demand from outside the U.S. Just yesterday I came across an article in a trade publication about the record levels of beef and pork exports from the U.S.
What about all that corn from the midwest?
Oh, we have to burn their food now for the sake of the environment.
Phew ! That has got to be ( for my taste anyway ) the most perfect woman I have ever laid eyes on . Damn !
Poor old Spam. About the most healthy of any of the composite meats and it gets a terrible rap. Only pork shoulder in Spam and look at olive loaf...everything including the kitchen sink.
We lost 82 due to the drought and two big fires on the ranch, sold off just over 500 and kept 120 of our youngest and healthier ones. Everybody else was in the same boat.
I saw in my Kroger ad, for the first time I ever remember seeing, the ad for some beef that said ‘previously frozen’. It wasn’t beef patties. Didn’t say how long it had been frozen. Maybe 2 years? Three? When beef prices weren’t as high. Making even more profit!
In my neighborhood, the prices for meat, and a lot of other things have gone down in the last week. Giant Eagle was the only supermarket serving 4 small towns. Week ago Monday, a huge new Aldi store opened across the street from Giant Eagle. Price war!
You have to live here in South Texas to fully understand what has happened to our livestock industry, ranches and everything attached to the cattle industry.
We are going through a drought of epic proportions. The whole area is in a water crisis and along with that, the devastation of anything that grows in the dirt is beyond belief.
Consequently, water, grass and hay (feed for livestock including horses) all has to be purchased remotely and brought in just to keep the livestock alive. I was talking to a rancher yesterday and he was saying that round bales of hay were selling for $100 to $175 each...if you could find them. On top of that is the transportation costs.
The only solution to financially survive is to sell the herd at any price to try to recover what you can and prevent financial suicide by doing so. However, the price increase is not to blame on the ranchers for they get bottom dollar due to the state of the condition of the cattle and the fact that they MUST sell the herd at “fire sale” prices. The price rise is to be blamed on the meat processors and also the inflationary government that has been gutted by Obama and his henchmen in the FED.
Supply and demand is the rule that regulates prices and the supply will soon be in a greatly reduced state and the meat industry is now hedging the future.
This past summer corn price at the ethanol plant reached a high of $8.47.
March feeder calves sold at 1.55
To quote BTO, Bbbbaby, you ain’t seen nothing yet.
I read the other day that you can’t make hotdogs from vegetables because vegetables don’t have @$$holes.
Wow!
Only it’s not new. Back in 1971 I had a poster of a young lovely similarly marked & posed, only she WAS wearing a ten gallon Stetson hat and the caption went,
“Break the Dull Steak Habit!”
;^)
Wife’s family stills farms in SW Iowa. They got out of livestock years ago and raise nothing but corn and beans.
Who needs the daily grind with cattle when you can work two months a year for better pay ?
You are so right but the consumer price of beef and all other commodities is further driven by government over regulation and market tampeering. The producers take it in the shorts but the end user gets beaten to death.
My thoughts as well. The demand for corn for ethanol has as I understand driven up the price of feed corn.
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