Skip to comments.Great American Group Sees Potential Increase in Food Prices for Coming Months (Obama's fault!)
Posted on 02/24/2012 9:34:12 AM PST by tobyhill
Analysts with Great American Group, a leading provider of asset disposition, valuation and appraisal services, believe that continued increases in raw material costs will result in overall higher food prices in the coming months.
Retail food prices remained above average in 2011, with the largest increases occurring in the meat and dairy industries. Higher prices were driven by increased export demand, adverse weather conditions and high fuel and feed costs. While record plantings for corn and wheat may help lower costs for feedstocks in the coming months, ongoing weather-related issues and global export demand may result in continued volatility.
Great American Group notes that, after increasing throughout 2011, market prices for food are expected to rise an additional 2 to 3 percent in 2012, which could continue to impact margins. Beef and chicken prices are predicted to increase by 9 percent and 5 percent, respectively, while costs for commodities such as coffee and chocolate are also expected to climb. Retail food prices rose between 4 and 5 percent in 2011, with signs pointing toward further increases in 2012.
(Excerpt) Read more at marketwatch.com ...
Next spin: High food prices are nothing more than an indication of a strengthening economy. Just like high gas prices.
Or, as he has now done with gas prices, Obama will go out and say there is nothing a president can do about high fuel or food costs, it’s simply out of a president’s control.
Yeah, destroying the economy adding an avalanche of debt and government regulation has nothing to do with any of this, right?
“Potential increases in food prices?”
Have these people been grocery shopping Lately?
Of course they will spin this as an improving economy but the same people that don't have a job or is being paid $8 an hour for part time work will know it's not an improving economy.
What he really means is “my girls will be ok”.
“Next spin: High food prices are nothing more than an indication of a strengthening economy. Just like high gas prices.”
Good deal because it means things are really going to be rolling soon... /sarc off now
Ummmmm . . . . . . . earth to America - higher food prices are already here. And, after seeing how high they have gone so far, I won't be surprised to see them go even higher.
With unchanging high unemployment (despite the cooked numbers), low housing sales (despite the cooked numbers), high gas prices (and rising!), high food prices (and rising!) Obama thinks he is going to be re-elected!!???
I have GOT to know what he smokes!!
This is a no-brainer to me.
Farmers & growers must use fuel to pump water to their fields, prepare their fields, plant their fields & cultivate their fields.
Then, when harvesting, more fuel is used to get the crop out of the field & prepared for transport to market.
Then the trucks take this product to a processing plant—such as tomatoes turned into ketchup— or take items directly to the grocery store warehouse—such as the potatoes my neighbor hauls from Winnemucca, N Nevada to Carson in S Calif to a grocery warehouse. Weekly-—a full load.
Then processed grocery items are trucked to grocery warehouses & sometimes directly to the grocery store location—this is known as “Direct Store Delivery”.
EACH & EVERY step of the process of growing food is dependent on fuel in some manner or another.
Even the hay that is grown & hauled to the dairys for the cows to eat while they produce milk are dependent on fuel for the trucks.
Obama is creating chaos & he knows it. This is all intentional.
What will the 2012 vacation season be like for all the American resorts with gas prices as high as predicted???
Yeah, Bammy can just try to spin it as “strong demand is causing rising prices, therefore the economy’s great”.
I will bet there will be less people who will buy that, than our latest t-bill offerings.
Funny. Sad, true; but funny in a black humor sort of way.
(Disclaimer - The term "black humor" is NOT intended as a racist comment or a slam on Barack Obama. I do not need to do anything to try to make him look bad - he does that well enough on his own WITHOUT my help!!)
I’d say this is the one time I hope lemmings don’t try to inform themselves. Because if they do, they’ll just run to network TV. They just need to keep shopping over and over.
I’ve noticed that too, the hidden inflation tactic.
If gas prices continue to rise the entire house of cards is going to start coming down on Obama, and rather quickly. If his response is still to run around giving speeches about algae the entire Democrat Party will implode.
Their Wizards of Smart have to be having an absolute freak-out over this. The wise move would be to triangulate and approve the pipeline and some drilling. But Barry won’t do it.
Good thing food prices and fuel prices aren't figured into inflation figures or we would really be in trouble.
bump for later
To them that has...... no problem
To them that have not, no vacation anyway.
Some may not travel a far.
Personally, We are planning an 8,000 mile odessy in may
Or he’ll do worse and impose rationing.