Stupid Corn Crunch, making beef more expensive for everyone.
Posted on 10/27/2010 8:39:35 AM PDT by EBH
Oct. 11 (Bloomberg) -- Meat prices are poised to extend a 14 percent rally this year that drove U.S. retail costs to the highest levels since the 1980s as surging corn futures prevent livestock producers from expanding their herds.
The U.S. cattle herd in July was the smallest since 1973 and the number of breeding hogs last month was near the lowest ever, government data show. Corn futures jumped to a two-year high today and the price of the main feed ingredient is more than 70 percent above the 10-year average.
(Excerpt) Read more at businessweek.com ...
I love bacon, last night it didn't make the shopping cart...too expensive.
At least we ‘saved’ the delta smelt...
Wish me luck on the hunting. We’ve decided to replace as much meat as possible with wild game. Good for the health, too.
How stupid is our federal government to force human food and animal food to be converted to auto fuel and calling it a good thing. Defund the EPA January!!!!!!1
Good Luck to you then!
I know I looked through the open game listing for Ohio a few weeks ago, but I don’t know how to hunt.
Might just have to change that...
Cows don’t HAVE to eat corn. There is such a thing as grass.
Corn only searves to add cheap lbs. on.
This is a three week old article. Live cattle futures on the CME are about $3.50 off of their highs.
“Cows don’t HAVE to eat corn. There is such a thing as grass” True but,
CARS don’t HAVE to eat corn or grass! They can eat hydrogen.
Ever in the forefront of doing something to make matters worse, the EPA issued a regulation about two weeks ago increasing the amount of ethanol, made of corn, in gasoline.
Government is always wrong.
But we will have to go after “Big Groceries” next. (And soon.)
Electricity will also double, cause we have to pay for all that new “free” solar and wind power.
But life will be much gooder cause the planet will be saved!
>>>The U.S. cattle herd in July was the smallest since 1973 and the number of breeding hogs last month was near the lowest ever, government data show.<<<
There’s the culprit.
The corn crop for this year is targeted to be at record, or near record levels, just like very year prior... and it’s not due to ethanol production either. Ethanol is food AND fuel.
Simple supply and demand - the article itself tells it: smaller herds = lower supply to market = increased prices.
same here. which is why using corn as a biodiesel fuel is WRONG! but of course the envirowackos ultimate dream is to starve all humans so I guess they are right on track.
The prices fell due to consumer price resistance. There is no increased supply. “Holidays” are just around the corner too.
This small decrease is a blip.
My electric company just sent out notices for this...
I suspect the proposed 50% increase in ethanol added to our gasoline, from 10% to 15% of total fuel pumped, had some effect on this, and of course there’s that corn farmer vote and all those politically connected people who are depending on ethanol subsidies. The question is whether these factors has been contributing to today’s prices or whether the they are still to be felt.
I skipped Bacon too it jumped even at WalMart to over $5.00 a pound for the brand I like just a few months ago you could get it for $3.00.
Meats not the only thing that went up and remember zero is raising the ethanol content to 15% for gas so everything food related will continue to rise as a result.
A Quick Glance At Real World Inflation
http://www.freerepublic.com/focus/f-news/2615232/posts
Meat Market Corn Crunch Means Costliest Beef in Quarter Century
I spent last weekend at my cousin’s farm in South Dakota pheasant hunting with my kids. He didn’t have any time to join us. He was still harvesting. Usually farmers are pretty good at finding something to complain about. But not this year. He looked like a pretty happy camper.
I never hunted as a kid so I am a pretty crappy shot. We saw a lot of birds but only hit a few.
Stupid Corn Crunch, making beef more expensive for everyone.
No wonder the farmers in my area were so quick to harvest their corn crop. Wonder how much will wind up as government-subsidized ethanol. Meanwhile my monthly sponsorship costs for poor children via Compassion keeps rising - wonder why?
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