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Keyword: foodprices

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  • Increasing Food Prices Threaten Middle Class

    06/18/2014 9:53:22 AM PDT · by LeoMcNeil · 39 replies
    Consumer prices are skyrocketing. The price of meat, poultry, fish and eggs was up 0.7% in May. The price of chicken is up 50% in the last decade. There are some mitigating factors in these price increases. The cattle herd isn’t very good this year and a pork virus has killed thousands of pigs. Nonetheless, with incomes stagnate price increases on staples such as meat and eggs is felt by the middle class. Consumer prices generally were up 0.4% in May after a 0.3% increase in April. Inflation has arrived after years of money printing at the Federal Reserve. (with...
  • Price Index for Meats, Poultry, Fish & Eggs Rockets to All-Time High [Obamanomics!]

    06/17/2014 11:25:48 AM PDT · by SoFloFreeper · 14 replies
    cns news ^ | 6/17/14 | Ali Meyer
    The seasonally-adjusted price index for meats, poultry, fish, and eggs hit an all-time high in May, according to data from the Bureau of Labor Statistics (BLS). In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1. As of last May, it was 234.572. By this January, it hit 240.006. By April, it hit 249.362. And, in May, it climbed to a record 252.832.
  • Return of 'pink slime': Customers flock back to controversial meat 2 years after sales plunged

    06/16/2014 4:50:54 PM PDT · by 2ndDivisionVet · 59 replies
    The London Daily Mail ^ | June 16, 2014 | Bryan Keogh
    The leftover beef trimmings derisively known as 'pink slime' is making a comeback two years after a series of graphic news broadcasts devastated sales. Two of the largest makers of the ground beef product are reporting a rebound in customers thanks in part to rising prices of its higher-quality counterparts. Average ground beef prices have jumped 10 per cent this year to an all-time high of $3.808 per pound in April, according to the Bureau of Labor. Cargill Inc's sales of finely textured beef have tripled since March 2012, and the agriculture company now has about 400 customers for the...
  • Dust Bowl Conditions Have Returned To Kansas, Oklahoma And North Texas

    05/29/2014 11:30:32 AM PDT · by blam · 21 replies
    Zero Hedge ^ | 5-29-2014 | Tyler Durden
    Tyler Durden 05/29/2014 In early 1978, a song entitled "Dust in the Wind" by a rock band known as Kansas shot up the Billboard charts. When Kerry Livgren penned those now famous lyrics, he probably never imagined that Dust Bowl conditions would return to his home state just a few short decades later. Sadly, that is precisely what is happening. When American explorers first traveled through north Texas, Oklahoma and Kansas, they referred to it as "the Great American Desert" and they doubted that anyone would ever be able to farm it. But as history has shown, when that area...
  • U.S. FOOD INFLATION RUNNING AT 22%

    05/26/2014 12:52:51 PM PDT · by kingattax · 102 replies
    Breitbart Big Government ^ | 26 May 2014 | by CHRISS W. STREET
    After five years of the federal government telling the public that despite a $3.5 trillion increase in monetary expansion, the inflation rate is below +2%, the Department of Agriculture (DOA) just warned the American public that the consumer price index for food is up by 10% this year. The DOA tried to blame food inflation on the drought conditions in California, but last year’s drought was worse and food prices fell by -6%. The real problem is Federal Reserve monetary stimulus is stimulating inflation. I reported in "Food Price Inflation Scares the Fed” two months ago that commodity food costs...
  • Chart of the Week: Is food too cheap for our own good?

    05/26/2014 6:09:15 AM PDT · by EBH · 52 replies
    Pew Research Center ^ | 5/23/2014 | Drew DeSilver
    As you scarf down burgers and potato salad this long Memorial Day weekend, consider this: Americans have the cheapest food in history, and that unprecedented abundance is largely responsible for why we’re so fat. According to a new article in CA: A Cancer Journal for Clinicians, Americans in the 1930s spent a quarter of their disposable income on food. That share has fallen steadily through the decades, to the point where today less than 10% of Americans’ disposable dollars go for food. (That varies across income groups, of course: The poorest 20% of Americans still spend about a third of...
  • Report: Food Prices Skyrocket: “We’re Going to Have a Major Problem Coming Into the Fall”

    05/14/2014 4:32:58 PM PDT · by Kartographer · 188 replies
    SHTF Plan ^ | 5/14/14 | Mac Slavo
    The Producer Price Index made available by the Bureau of Labor and Statistics this morning has now confirmed those fears. Consumers are seeing an immediate impact to their wallets in the form of food price inflation and in all likelihood the trend will continue going forward. These latest numbers are serious. So much so that according to Zero Hedge, “the last time food prices spiked by this much in one month, the resulting Arab Spring wave of revolutions tumbled governments across north Africa and the middle east.”
  • The 10 Fastest Rising Food Prices

    04/17/2014 10:58:45 AM PDT · by Oshkalaboomboom · 35 replies
    24/7 Wall Street ^ | April 17, 2014 | Alexander E.M. Hess and Thomas C. Frohlich
    Food prices at the grocery store are up, following an increase in production costs and wholesale prices. In March, retail food prices rose 0.4% from the preceding month, matching February’s increase. These marked the largest monthly gains in food prices since September 2011, according to data from the Bureau of Labor Statistics. Food prices are often volatile and are affected by a number of factors. While certain factors reflect human decision — such as the changing tastes of consumers and farmers’ planting choices — others are forces over which farmers have very little control. Issues such as weather conditions and...
  • Soaring Food Inflation Full Frontal: Beef, Pork And Shrimp Prices Soar To Record Highs

    04/17/2014 6:29:53 AM PDT · by SoFloFreeper · 34 replies
    We previously noted that both beef and pork (courtesy of the affectionately named Porcine Epidemic Diarrhea virus) prices have been reaching new all time highs on an almost daily basis. It is time to update the chart. Below we show what a world in which the Fed is constantly lamenting the lack of inflation looks like for beef prices...
  • Blame the Fed for high food prices

    04/16/2014 3:25:28 PM PDT · by ilovesarah2012 · 13 replies
    atimes.com ^ | April 2, 2014 | Noureddine Krichene
    The Wall Street Journal and the Financial Times (FT) have recently reported frightening food-price inflation. Prices for staples like coffee, oats, milk, meat, vegetables and fruits have increased so far in 2014 by rates as high as 70%. The FT noted that a breakfast now costs at least 25% more than it did in 2013. As expected, media attributed the food-price inflation to droughts and to fast-growing demand in Southeast Asia. For fish, for which prices tripled in recent years, the drought factor does not apply, leaving us with high demand. This explanation fits best with what the US Federal...
  • Beef prices hit all-time high in U.S.

    04/09/2014 3:42:47 AM PDT · by ilovesarah2012 · 68 replies
    latimes.com ^ | April 8, 2014 | David Pierson and Tiffany Hsu
    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...
  • The Real Inflation Fear - US Food Prices Are Up 19% In 2014

    03/26/2014 10:40:32 AM PDT · by blam · 69 replies
    Zero Hedge ^ | 3-26-2014 | Tyler Durden
    The Real Inflation Fear - US Food Prices Are Up 19% In 2014 Tyler Durden 03/26/2014 10:20 -0400We are sure the weather is to blame but what happens when pent-up demand (from a frosty east coast emerging from its hibernation) bumps up against a drought-stricken west coast unable to plant to meet that demand? The spot price (not futures speculation-driven) of US Foodstuffs is the best performing asset in 2014 - up a staggering 19%...(snip)We're not allowed to post charts from Bloomberg so you'll have to click to the site to see the chart.
  • Why Food Prices Are Surging

    03/25/2014 9:38:15 AM PDT · by blam · 52 replies
    BI ^ | 3-25-2014 | Matthew Boesler
    Why Food Prices Are Surging Matthew Boesler Mar. 25, 2014, 12:06 PM Since the beginning of the year, food prices have been on a tear. In a new report, Morgan Stanley commodities analysts led by Adam Longson attribute the surge in prices to a number of factors, "from weather (in the case of sugar, soybeans and coffee) to disease (in the case of hogs) to geopolitics (wheat and corn)." The Morgan Stanley analysts don't believe this will continue. "To date, weather concerns in South America have proven overstated, as evidenced in the recent declines in sugar prices," they say. "Tensions...
  • Here Are The Countries That Spend The Most On Food

    02/24/2014 5:59:29 PM PST · by blam · 21 replies
    BI ^ | 2-24-2014 | Matthew Boesler
    Here Are The Countries That Spend The Most On Food Matthew BoeslerFeb. 24, 2014, 8:28 PM Renaissance Macro Research, Congressional Research Service This chart plots the share of household income in a given country spent on food against the level of household income in that country. Neil Dutta, head of U.S. economics at Renaissance Macro, warns that rising food prices may serve as an additional economic headwind to some of the emerging markets in the top-left region of the chart (India, China, Indonesia, and Nigeria, to name a few). "Food prices are climbing for a range of items including cattle,...
  • The Math That Predicted The Revolutions Sweeping The Globe

    02/24/2014 10:13:24 PM PST · by JerseyanExile · 47 replies
    Motherboard ^ | February 19, 2014
    It's happening in Ukraine, Venezuela, Thailand, Bosnia, Syria, and beyond. Revolutions, unrest, and riots are sweeping the globe. The near-simultaneous eruption of violent protest can seem random and chaotic; inevitable symptoms of an unstable world. But there's at least one common thread between the disparate nations, cultures, and people in conflict, one element that has demonstrably proven to make these uprisings more likely: high global food prices. Just over a year ago, complex systems theorists at the New England Complex Systems Institute warned us that if food prices continued to climb, so too would the likelihood that there would be...
  • Tomorrow’s hamburger may cost as much as today’s steak - Beef prices expected to rise through 2016

    02/22/2014 8:47:27 AM PST · by rickmichaels · 69 replies
    marketwatch.com ^ | Feb. 21, 2014 | Catey Hill
    Beef: It’s what you can’t afford for dinner — for years to come. Retail beef prices are near record highs. During 2013, the price consumers paid for ground beef climbed roughly 5%, according to government data beef price data released Thursday finds that consumers paid an average of nearly $3.50 per pound for 100% ground beef. What’s more, experts say that climbing beef prices are here to stay. The USDA’s Economic Research Service projects that beef prices will rise faster than almost anything else this year. Don Close, a cattle economist with Rabo AgriFinance says he thinks prices this year...
  • Western drought spells killer grocery bills

    02/09/2014 12:05:15 AM PST · by 2ndDivisionVet · 105 replies
    Market Watch ^ | February 7, 2014 | Myra P. Saefong
    Much like the polar vortex spiked demand and prices for natural gas in the eastern U.S., another weather phenomenon — a severe drought — is threatening cattle and milk production and food crops in the West. It’s a threat that can last for months and year, and parched conditions have already driven up prices on milk and cattle futures. “The hardest hit section of California is the Central Valley — ‘the supermarket to the world’ — and [it’s becoming] increasingly clear the region won’t see relief from the devastating drought anytime soon,” said Kevin Kerr, editor of CommodityConfidential.com. “Retail prices...
  • Same Moonshine, Different Name: Welcome To The Age Of Cellulosic Ethanol

    09/15/2013 7:29:32 AM PDT · by IbJensen · 33 replies
    Forbes ^ | September 23, 2013 Issue | Christopher Helman
    A Dutch company and an American ethanol producer hope to put a new kind of fuel in your gas tank — whether it makes economic sense or not. Thanks, Washington. Amid the cornfields of Emmetsburg, Iowa sits an ethanol plant that takes in 20 million bushels of corn and churns out about 55 million gallons of corn ethanol a year. Rising next to it is a revolutionary new facility. It will make ethanol as well, but instead of using juicy kernels of corn, its feedstock will be 285,000 tons a year of corncobs, leaves and husks. Although its 25 million...
  • Fed, Farm And Trade Policies Inflating Our Grocery Bills

    08/13/2013 5:30:11 AM PDT · by SeekAndFind
    IBD ^ | 08/13/2013 | SCOTT LINCICOME
    Monthly U.S. headlines trumpeting the death of inflation hide a painful truth for American families: rapidly rising food prices. News reports rarely mention this pain because economists' preferred inflation metric, so-called "core CPI," omits both food and energy due to concerns about their volatility. Although this omission might make sense from a purely economic perspective, it does a disservice to voters because several federal government policies that enrich a few special interests have conspired to keep American grocery bills high and rising. There can be little doubt that food prices have spiked in recent years, especially in relation to other...
  • Russia: Red caviar 'price rockets'

    07/23/2013 4:52:18 PM PDT · by BlackVeil · 28 replies
    BBC News ^ | 23 July 2013 | anon
    There's bad news from Russia for caviar connoisseurs - prices of even the cheaper alternatives are up 70%, it's reported. Red caviar - or salmon roe - is usually at the more affordable end of the market, at less than a 10th of the price of the prized beluga in the UK. However, in Kamchatka territory, which produces up to 60% of Russian caviar each year, wholesale prices have jumped ...
  • Surge in vegetable prices pushed up wholesale inflation in January

    02/21/2013 5:05:04 PM PST · by 1rudeboy · 11 replies
    LAT ^ | February 20, 2013 | Jim Puzzanghera
    WASHINGTON -- A sharp jump in the cost of vegetables led wholesale prices to rise at a seasonally adjusted rate of 0.2% in January compared with the previous month, the biggest increase since the summer, the Labor Department said Wednesday. The Producer Price Index for finished goods. one of several gauges of inflation, had dropped for three straight months, including a 0.3% decline in December, before January's rise. The main driver of January's increase was a 0.7% jump in food prices. The costs of fresh and dry vegetables were up 39% from December, as cold weather in California and elsewhere...
  • Oh, good: ObamaCare may help raise supermarket prices, too

    02/07/2013 5:52:03 PM PST · by 2ndDivisionVet · 17 replies
    Hot Air ^ | February 7, 2013 | Erika Johnsen
    ObamaCare’s benevolent promise to help control and curtail healthcare-related costs is already going magnificently bust; why not just extend the consequences of heightened compliance costs and pricey taxes to an entirely other but equally indispensable economic sector while they’re at it, right? As the Federal Drug Administration so munificently explains, part of ObamaCare’s overall purpose is to help provide Americans with all of the tools they need to lead healthier lives (with a universal healthcare system that requires society to absorb the costs of individuals’ daily health-related decisions, what choice do they have but to butt into those decisions?) —...
  • America, Prepare For A Century Of Drought

    01/11/2013 9:33:04 PM PST · by blam · 35 replies
    TBI ^ | 1-11-2013 | Rob Wile
    America, Prepare For A Century Of Drought Rob WileJan. 11, 2013, 6:21 PM Corn and wheat prices surged today. The immediate reason appeared to be the year-end USDA report, that showed supplies were lower than projected. But concurrent with that report was the release of the Commerce Department's National Climate Assessment Development Advisory Committee National Climate Assessment survey. One of the findings: we can expect up to a century of drought. Here's a chart from the report projecting percent of the country in drought conditions in the coming years.Commerce/NOAA The red line is based on observed temperature and precipitation. The...
  • DoE doubling down on feeding “green” ambitions and hiking third-world food prices

    01/07/2013 2:59:50 PM PST · by Kaslin · 2 replies
    Hot Air.com ^ | January 7, 2013 | ERIKA JOHNSON
    The Obama administration has roundly refused to scale back on its relentless buoying up of the biofuels industry, despite the clamorous criticism of almost everybody except the ethanol lobby; once the supposedly ‘environmental’ zealots of our bloated federal bureaucracy and their cronyish friends have decided on a policy, that’s just all there is to it, and no, we really do not give a damn about the real-world unintended consequences. Well, leftists and rent-seekers, here are some unintended consequences: We are already dealing with inflated food prices in the United States because of the government’s mandate that we use a certain...
  • What Happened to the American Middle-Class Meal?

    10/21/2012 9:07:23 PM PDT · by 2ndDivisionVet · 39 replies
    Time magazine ^ | October 17, 2012 | Josh Ozersky
    Living in a big city, as I do, it isn’t hard for me to spend a lot on dinner. One big meal, and you can find yourself over $200 poorer, just for two people. Of course, it isn’t hard for me to spend very little on dinner either. I got fried pork chops and pork fried rice sent to me from the local Chinese takeout last night, and the whole meal cost me something like nine dollars. What is hard to get is a meal for $50 or so, and that seemingly innocuous fact speaks to an insidious trend not...
  • Two No-Brainer Ways To Play Rising Food Prices

    09/29/2012 8:53:26 AM PDT · by blam · 1 replies
    Sovereign Man ^ | 9-27-2012 | Simon Black
    Two No-Brainer Ways To Play Rising Food Prices Simon Black September 27, 2012 Santiago, Chile Last summer, two researchers from the New England Complex Systems Institute published a short paper examining the correlation between rising food prices and civil unrest. It was a timely analysis, to say the least. A number of food riots were occurring throughout the world, not to mention waves of revolution sparked by the high cost of food. This is nothing new; throughout history whenever people have struggled to put food on the table for their families, social unrest has been a common consequence. The French...
  • World on track for record food prices 'within a year' due to US drought

    09/24/2012 9:08:48 AM PDT · by mojito · 10 replies
    The Telegraph ^ | 9/23/2012 | Emma Rowley, and Garry White
    They are being driven upwards by the climb in grain and oilseed prices as US crops weather the country's worst drought since 1936, while the farming belts of Russia and South America suffer through similar water shortages. What we are seeing represents the third major rally in global grain and oilseed prices in just half a decade. Worse is to come, new research warns. World food prices look set to hit an all-time high in the first quarter of next year – and then keep rising, according to the analysis from Rabobank, a specialist in agricultural commodities. By June 2013,...
  • If You Can Eat It, Buy It Now Because It'll Be More Expensive In A Month

    09/15/2012 6:27:11 AM PDT · by blam · 32 replies
    TBI ^ | 9-15-2012 | Bruce Krastering
    If You Can Eat It, Buy It Now Because It'll Be More Expensive In A Month Bruce Krasting, My Take On Financial EventsSep. 14, 2012, 8:10 PMThe most significant market adjustment since Bernanke used the “Unlimited” word is not in stocks, bonds or PMs. It’s in inflation expectations. Have a look at this chart. Focus on the incredible spike in the past 24-hours. The 10-Year Breakeven SpreadThe sick part of this is that if Bernanke saw this graph, he would cry with tears of happiness. This is exactly what he was praying for. Ben thinks that inflation is a good...
  • Where is the outrage over "outrageous" food prices?

    08/10/2012 5:00:07 AM PDT · by REPANDPROUDOFIT · 44 replies
    TownHall ^ | Aug. 10, 2012 | Carol Platt Liebau
    ....the Obama campaign is trying hard to "reach out" to women -- ....with false claims about the GOP's plans to take away contraception.... But for women who are really paying attention, this should raise some eyebrows: As the graphic below illustrates, grocery prices have risen 15% just since the start of President Obama's term.
  • Food Report: One Harvest Away from a Catastrophe

    07/28/2012 8:10:15 AM PDT · by DeaconBenjamin · 49 replies
    Financial Sense ^ | 07/27/2012 | By Richard Mills
    Because of the worst drought since 1988 the U.S. Department of Agriculture declared a federal disaster area in almost one-third of all the counties in the United States - more than 1,300 counties covering 29 states, the largest disaster declaration ever made by the USDA. Only in the 1930s and 1950s has a drought covered more land. The United States Drought Monitor shows 88 percent of corn, and 87 percent of soybean crops are in drought-stricken regions. This map show the counties affected: “We just had a crop report today, which indicated a significant reduction in corn production as well...
  • Poor Corn Crop Will Have Major Impact on Ethanol Market

    07/22/2012 7:43:43 PM PDT · by QT3.14 · 27 replies
    The Energy Collective ^ | July 17, 2012 | Robert Rapier
    [Snip]...I have long felt that one of the biggest threats to the U.S. ethanol industry is a major drought/crop failure in the heart of corn country. This year we may be experiencing such an event. Recent reports indicate that what had been expected to be a record crop of corn has been downgraded such that only 40% of the corn crop is being classified as in good or excellent condition. This is down 48% versus last week and 69% versus a year ago.
  • Rising Corn Prices and Your Grocery Bill.(Yet our govt keeps subsidizing at high cost)

    07/19/2012 3:25:27 PM PDT · by bestintxas · 18 replies
    smart money ^ | 7/18/12 | j hough
    Corn prices are nearing the record highs of last summer as the U.S. Midwest suffers its worst drought since 1956. Shoppers should expect higher grocery bills, because corn is used in three-quarters of supermarket products. But don’t panic. Overall cost hikes are likely to be modest. “A 50% increase in the price of corn tends to raise total shopping bills by about 1%,” says Ricky Volpe, a research economist with the U.S. Department of Agriculture. Corn’s price has jumped 45% this summer. Of course, even a modest increase to shopping bills is unwelcome news for households on tight budgets. Strange...
  • Drought wilts crops as officials pray for rain

    07/18/2012 5:00:24 PM PDT · by Olog-hai · 31 replies
    Reuters ^ | Wed Jul 18, 2012 7:43pm EDT | Russ Blinch and K.T. Arasu
    Oppressive heat and a worsening drought in the U.S. Midwest pushed grain prices near or past records on Monday as crops wilted, cities baked and concerns grew about food and fuel price inflation in the world's top food exporter. Soybean prices at the Chicago Board of Trade set a record high and corn closed near a record as millions of acres of crops seared in triple-digit heat in the Corn Belt. Corn fields have been plowed up in many locations for lack of rain. Now soybeans, which develop later than corn, are in the bull's eye. "I get on my...
  • Nestle blames biofuels for high food prices

    07/18/2012 2:03:37 PM PDT · by CutePuppy · 62 replies
    BBC ^ | July 18, 2012 | James Melik
    The head of the world's largest food producer believes high prices are due to the growing of crops for biofuels."The time of cheap food prices is over," says Nestle chairman Peter Brabeck-Letmathe. He is highly critical of the rise in the production of bio-diesel, saying this puts pressure on food supplies by using land and water that would otherwise be used to grow crops for human or animal consumption."If no food was used for fuel, the prices would come down again - that is very clear," he says. "We are now in a new world with a completely different level...
  • Corn Futures SURGE As USDA Cuts Crop Forecast By 12%

    07/11/2012 6:49:51 AM PDT · by blam · 7 replies
    TBI ^ | 7-11-2012 | Mamta Badkar
    Corn Futures SURGE As USDA Cuts Crop Forecast By 12% Mamta Badkar Jul. 11, 2012, 8:38 AM Corn prices are jumping after the USDA cut corn yield by 20 bushels per acre to 146 bushels per acre. This is down from 166 bushels per acre because of poor crop conditions from early June and because of the heatwave and drought conditions plaguing the Midwest. The corn crop forecast was cut 12 percent to 12.97 billion bushels. Corn futures are up 3.20 percent on the news. From the report: "Persistent and extreme June dryness across the central and eastern Corn Belt...
  • Global food prices on the rise again: World Bank

    04/25/2012 9:43:27 AM PDT · by NormsRevenge · 4 replies
    Yahoo ^ | 4/25/12 | Reuters
    WASHINGTON (Reuters) - Global food prices are rising again, pushed higher by costlier oil, strong demand from Asia and bad weather in parts of Europe, South America and the United States, the World Bank said on Wednesday. The latest World Bank food price index showed the cost of food rose 8 percent between December and March. In the previous four months, prices had declined. Even after the latest rise, food prices remain 1 percent below a year ago and 6 percent below the February 2011 historical peak, the World Bank said. "After four months of consecutive price declines, food prices...
  • Soaring Food Costs Mean a Garden is as Good as Gold

    04/16/2012 4:57:26 AM PDT · by orsonwb · 26 replies
    The How Do Gardener ^ | 04/15/2012 | Rick Bickling
    According to the US Bureau of Labor Statistics, Consumer Price Index Data for March 2012, the Consumer Price Index for fresh vegetables purchased for home use rose 4.5 percent from the same time last year. Recent USDA data also shows that the price of grains such as corn, wheat, rice, and soybeans has increased 234% since January 2002...
  • Ethanol Policy Not Producing Desired Results

    03/20/2012 12:46:17 PM PDT · by Constitutionalist Conservative · 40 replies · 1+ views
    The Energy Independence and Security Act of 2007 (EISA), which mandated a steep rise in domestic ethanol production, is causing unforeseen negative consequences for food prices while failing to live up to the desired gasoline results and other expectations, concludes a Texas A&M University research team headed by an economics professor who studies energy issues.James Griffin James M. Griffin, director of the Mosbacher Institute for Trade, Economics & Public Policy, which is part of Texas A&M’s Bush School of Government and Public Service, and Mauricio Cifuentes Soto, a graduate student assisting him, say in their report that the goal of...
  • Great American Group Sees Potential Increase in Food Prices for Coming Months (Obama's fault!)

    02/24/2012 9:34:12 AM PST · by tobyhill · 21 replies
    Wall Street Journal ^ | 2/23/2012 | staff
    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...
  • Land Prices Are Rising Uniformly Across The Cornbelt

    02/20/2012 2:53:13 PM PST · by blam · 41 replies
    The Economic Policy Journal ^ | 2-20-2012 | Robert Wenzel
    Land Prices Are Rising Uniformly Across The CornbeltRobert WenzelMonday, February 20, 2012 Farmland values in the Cornbelt are rising as fast as anytime in the past 35 years, but may be showing some indication of deceleration. Bankers throughout the five-state region in the Chicago Federal Reserve District report a 22% increase in the value of good farmland over the course of 2011. But in the seven-state Kansas City Fed District, the value of farmland rose 25% in the past year, reports FarmGateBlog Higher prices for grain have spurred the most significant demand for land since the 1970’s. Farm land, oil,...
  • Under Obama, Price of Gas Has Jumped 83 Percent, Ground Beef 24 Percent, Bacon 22 Percent

    01/24/2012 4:25:59 PM PST · by OPS4 · 41 replies
    CNS news ^ | 1/24/12 | Christopher Goins
    So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics. (AP Photo) During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent. When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon,...
  • Up Next… Obama’s New Energy Regulations Will Put 32 Coal Plants Out of Business

    01/19/2012 9:02:46 AM PST · by opentalk · 17 replies
    Gatway Pundit ^ | January 18, 2012 | Jim Hoft
    The Obama Administration killed the Keystone Pipeline project today. Up next is the coal industry. New EPA regulations will force 32 coal plants to close their doors putting hundreds of Americans out of work. The latest move by the EPA will force new regulations on 26 states. The new rules will kill thousands of jobs, cost billions of dollars and increase electricity rates for every family.New EPA rules will force Western coal-fired power plants to install haze-reducing pollution-control equipment at a cost of $1.6 billion a year. ....The Obama Administration’s new energy regulations will shut down about 8% of all...
  • Crop-Killing Drought To Push Food Inflation Even Higher

    11/14/2011 1:38:12 PM PST · by blam · 20 replies
    Money Morning ^ | 11-14-2011 | David Zeiler
    Crop-Killing Drought To Push Food Inflation Even Higher November 14, 2011 By David Zeiler, Associate Editor, Money Morning A drought affecting one-third of the lower 48 states has hurt several key food crops, driving up prices this year and assuring widespread food inflation well into 2012. According to the National Climatic Data Center, the drought has caused more than $10 billion in losses to agriculture and cattle, a number it expects to keep rising as the drought continues. Meteorologists blame the drought on a La Niña weather pattern expected to last at least through the winter. Crops most affected include...
  • World's grain prices depend on more than just wealth

    10/30/2011 5:36:43 PM PDT · by DeaconBenjamin · 10 replies
    Telegraph (UK) ^ | 7:00PM GMT 30 Oct 2011 | By Garry White, and Emma Rowley
    Conventional wisdom tells us that grain price rallies during the past few years have been caused by concerns over a rising population and rising wealth in the developing world. As people become richer, they eat more meat, and livestock needs significant amounts of grain to fatten up. Indeed, worldwide meat production has tripled over the past four decades and increased 20pc in the past 10 years, according to research from the Worldwatch Institute, the environment organisation. The pressure group noted that industrial countries are consuming growing amounts of meat, nearly double the quantity in developing countries. If this trend continues,...
  • USDA Predicts Surging Food Prices in Coming Year

    10/30/2011 6:55:00 PM PDT · by JDW11235 · 45 replies
    The Blaze ^ | October 30, 2011 | Christopher Santarelli
    The USDA has released their projections for food price inflation in 2011/2012, showing troubling forecasts that may send you to the grocery store today, before paying higher prices tomorrow. The report shows that the Consumer Price Index (CPI) for all food increased 0.8 percent between 2009 and 2010, and is forecasted to increase 3.5 to 4.5 percent in 2011. Items that are expected to inflate the most include beef, cooking oils, and seafood. Processed vegetables and beverages were projected to to see smaller changes in the CPI. The Wall Street Journal notes that “the midpoint of the new USDA outlook...
  • Food shortages high prices and riots

    10/13/2011 10:39:48 AM PDT · by Kartographer · 33 replies
    Survival Boards ^ | 10/12/11 | Kevin
    Remember hearing something about a drought across parts of the US this year? If you buy anything with peanuts, you’re about to see the effects of a low harvest caused by the drought. Get ready for some high food prices, they are on their way. Normally I do not subscribe to the doom-and-gloom predictions, but I am seeing it first hand. Drought Farmers here in Texas are losing crops, and having to sell their cattle because grass is not growing. Texas and Louisiana agreed to allow wide loads of hay to be transported between the 2 states. Here in Jasper...
  • Peanut Butter Prices Are Rising By 24 to 40 Percent

    10/10/2011 7:11:20 PM PDT · by DeaconBenjamin · 71 replies
    Cleveland Leader ^ | 10/10/2011 - 10:08am | By Julie Kent
    You can now add peanut butter, a long-time recession staple food item, to the list of things that "the 99 percent" may no longer be able to afford. Thanks to droughts, the price of peanut butter has gone up from $450 a ton to $1,150 a ton in just one year and now peanut butter makers are about to pass on the increased costs to consumers. The Wall Street Journal reports that wholesale prices for Jif are going up 30 percent beginning in November. Peter Pan will increase its prices by as much as 24 percent in a couple of...
  • Nestle chief warns rising prices could spark new food riots

    10/10/2011 5:45:14 PM PDT · by DeaconBenjamin · 22 replies · 1+ views
    Daily Mail (UK) ^ | 5:03 PM on 9th October 2011 | By Emily Allen
    The head of the world's biggest food company has warned rising food prices could trigger food revolts like they did in 2008. Swiss giant Nestle Chairman Peter Brabeck told an Austrian newspaper rising prices were a product of a growing world population, the rise of a middle class in countries like India that is keen to eat more meat, and the increasing demand for water. Comparing the situation to 2008 when food riots took place in many countries Mr Brabeck said: 'The situation is similar. This has become the new reality.' The riots three years ago were triggered when the...
  • Nestle chief warns of new food riots

    The head of the world's biggest food company Nestle said on Friday that rising food prices have created conditions "similar" to 2008 when hunger riots took place in many countries. "The situation is similar (to 2008). This has become the new reality," the Swiss giant's chairman Peter Brabeck-Letmathe told the Salzburger Nachrichten daily in his native Austria in an interview. "We have reached a level of food prices that is substantially higher than before. It will likely settle down at this level. "If you live in a developing country and spend 80 percent of your income on food then of...
  • Rising food prices hit consumers at grocery checkout

    09/19/2011 4:12:08 PM PDT · by newzjunkey · 67 replies
    The Palm Beach Post ^ | 12:00 a.m. EDT, September 19, 2011 | Susan Salisbury
    … Beef, veal, pork, eggs and such dairy products as butter, milk and cheese have seen the biggest increases in the past year, said Richard Volpe, an economist with the U.S. Department of Agriculture. The price of groceries rose 5.4 percent from July 2010 to this July, according to the USDA's latest report. ... Now the rising cost of energy, the weaker dollar and growing global food demand are driving the price. Beef and veal prices are expected to increase as much as 8 percent this year, with pork projected to go up as much as 7.5 percent. Beef prices...