BIDEN ADMINISTRATION PLANS TOUGHER ACTION TO REIN IN MEAT PRICES
Posted on 09/12/2021 2:55:30 PM PDT by MinorityRepublican
Your post made me hungry.
His patience wearing thin,,more like brain cells, and can’t hit the cracks pipe and smell kids hair.
Went to Costco yesterday the 3 pack of ribeyes that used to be about 32 bucks were now 65 bucks.
—”Biden Beats Meat”
That’s good.
But you have to keep the gold standard for the category in mind:
Headless Body in Topless Bar
Must have been sky high already.
Maybe because I only buy cheaper cuts.
What did Biden think that raising energy prices would do? He is truly insane.
Ha! Me too. He raises great cattle.
BIDEN ADMINISTRATION PLANS TOUGHER ACTION TO REIN IN MEAT PRICES
Through the roof meat prices are good for the mortgage companies who can put a refinance desk beside the prime rib at the meat counter.
Hey, how about price controls! It worked so well for Nixon. /sarc
Break out the Alpo recipe book!
I guess you did not notice they just gave their work force $2.55 an hour pay raise. Starting pay is now $16.80 for an entry level worker.
Guess what that “Corporate wokeness” about “paying a living wage” has to be paid for with higher prices
feds interfering with market forces involving meat production is guaranteed to result in massive shortages ...
Did you actually look at live cattle price history?
Lets look at Tyson Meats.
Rev: $16000000000/ emp: 41000 is $390,243 sales per employee to get an idea about the employee production scaling factor.
Assuming 40hr * $5(*see note) * 50 weeks * 41000 employees
410000000 / 160000000000 = .025625 or about 2.5% cost increase. (Extremely high since the raise is entry level only but humoring your logic)
That is 25c cost increase on a $10 steak. Not buying it is labor cost, especially with sales that high per employee.
(NOTE: A good rule of thumb: When doing labor estimation in a factory environment double the base pay to cover the benefits and associated overhead. The $2.55 becomes aprox $5 in cost.)
Many moons ago I took a class called linear programming for maximum profitability. The oligopolistic meat industry pricing scheme would have been a case study. Suppress supply by paying farmers to produce the exact qty of meat you need to maximize profits given the price elasticity and demand for meat.
Nothing wrong with that per se, but the conditions that allow that to happen were set up by lobbying congress to pass entry barriers to the industry thus allowing the big 3 + 1 to monopolistically control pricing on both the purchase and sales sides. That is bad. That is corporate malfeasance.
This is Standard Oil.
Thank you for the well informed post. Finally someone who was awake with the intelligence to actually use macroeconomics.
For as bad as the TDS lefties were screaming orange man bad 24/7 the same group think is present here in way to high a prevalence only this time they are screaming pudding pop man bad. The meat monopoly solely rests on Congress and it’s a good thing the executive is going to use antitrust to smash down what as you accurately point out is a standard oil like set-up. People get so blinded by their politics they lose sight of the big picture. Not everything this admin will do is wrong just because they are not your color of red or blue there will be times they do things right. This is the case regardless of red or blue at the helm.
Yep... a broken clock is right twice a day. In this case the broken clock Biden admin is right but will go about fixing it backasswards.
There is a bill that would fix it by eliminating the massive entry barriers and encouraging small competitors but the lack graft means it has a fart in a hurricane chance of passing.
Yep... a broken clock is right twice a day. In this case the broken clock Biden admin is right but will go about fixing it backasswards.
There is a bill that would fix it by eliminating the massive entry barriers and encouraging small competitors but the lack graft means it has a fart in a hurricane chance of passing.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.