Real News Group

We Find the Real News that won't be covered.

 

Home l Blog l Video Blog l Archives

 "The mainstream media's omission of an objective opposing view can be considered the commission of a lie" "Eventually, the macromedia will lie it's self out of existence"

Real Economic News, Politics, Religion, Environment, U.S. Economy

RNG
Real News Group

Beef prices hit all-time high in U.S.

Health Care cost are up, Beef is up, Pork is up, Electricity is up, not to worry, Fed says there is no inflation - Gary




Extreme weather has thinned the nation’s cattle herds, roiling the beef supply chain from rancher to restaurant.
LA Times
la-fi-beef-prices-20140408-g 
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 a pound in February, up from $4.91 the same time a year ago. The same grade of beef cost $3.97 as recently as 2008.
The swelling prices are roiling the beef supply chain from rancher to restaurant.
Norm Langer managed to go two years without raising prices at his famed Westlake delicatessen.
But last week, he reluctantly began printing new menus showing a 50-cent increase for sandwiches at his 67-year-old restaurant.
Langer accepts it’s one of the perils of business when your bread and butter happens to be corned beef and pastrami. But he fears he may have to raise prices again, driving away customers.
More…

Food Inflation Setting In !

How can this be, the government says there is merely 1.5% inflation - Gary

shrimp prices    Beef prices rise

From: ZeroHedge

Soaring Food Inflation Full Frontal: Beef, Pork And Shrimp Prices Soar To Record Highs

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…

Prices for shrimp have jumped to a 14-year high in recent months, spurred by a disease that’s ravaging the crustacean’s population. At Noodles & Co., a chain with locations across the country, it costs 29 percent more to add the shellfish to pastas this year, and shrimp-heavy dishes at places like the Cheesecake Factory Inc. are going up as well.

Restaurant chains, already struggling with shaky U.S. consumer confidence, are taking a profit hit as prices climb. Even worse, the surge is happening during the season of Lent, when eateries rely on seafood to lure Christian diners who abstain from chicken, beef and pork on certain days.

“It’s coming at a tough time for the industry,” said Andrew Barish, a San Francisco-based analyst at Jefferies LLC. “With the Lenten season, what you’ll see out there is a lot of promotions with seafood, and usually shrimp is a big part of that.”

In March, shrimp prices jumped 61 percent from a year earlier, according to the U.S. Bureau of Labor Statistics. The climb is mainly due to a bacterial disease known as early mortality syndrome. While the ailment has no effect on humans, it’s wreaking havoc on young shrimp farmed in Southeast Asia, shrinking supplies.

 

James Johnson, a Jewel-Osco supermarket shopper in Chicago, has noticed the price increase. He’s been cutting back on one of his favorite dishes — shrimp and potato soup — because of the cost.

“I haven’t made it in a while,” the 29-year-old said. “Shrimp looks expensive.”

 

At Noodles, it now costs $3.34 to add the shellfish to a meal of pasta or pad thai, compared with $2.59 last year.

“We still want to at least offer it as choice,” Chief Executive Officer Kevin Reddy said in a phone interview. “As soon as the costs begin to normalize, we’ll return to the regular price.”

More…


Electricity Price Surged to All-Time Record for March

Again, How can this be, the government says there is merely 1.5% inflation - Gary

electricity


(CNSNews.com) – The average price for a kilowatthour (KWH) of electricity hit a March record of 13.5 cents, according data released yesterday by the Bureau of Labor Statistics. That was up about 5.5 percent from 12.8 cents per KWH in March 2013. The relative price of electricity in the United States tends to rise in spring, peak in summer, and decline in fall. Last year, after the price of a KWH averaged 12.8 cents in March, it rose to an all-time high of 13.7 cents in June, July, August and September. If the prevailing trend holds, the average price of a KWH would hit a new record this summer. The BLS’s seasonally adjusted electricity price index rose to 209.341 this March, the highest it has ever been, up 10.537 points—or 5.3 percent–from 198.804 in March 2013. In its press release on the Consumer Price Index, BLS noted that the overall energy index declined in March, driven by declining gasoline and fuel oil indexes, despite increases in natural gas and electricity.

 ”The energy index fell 0.1 percent in March after a 0.5 percent decline in February,” said BLS. “The gasoline index declined 1.7 percent in March, the same decline as in February. (Before seasonal adjustment, gasoline prices rose 5.1 percent in March). “The fuel oil index also declined, falling 2.9 percent after rising 4.1 percent the previous month,” said BLS. “In contrast, the index for natural gas rose sharply, increasing 7.5 percent, its largest one-month increase since October 2005. It has increased 15.3 percent over the last three months. “The electricity index also increased, rising 1.1 percent,” said BLS. ”Over the last 12 months, the energy index has increased 0.4 percent, with the natural gas index rising 16.4 percent, the electricity index increasing 5.3 percent, and the fuel oil index advancing 2.1 percent. These increases more than offset a 4.7 percent decline in the gasoline index.” More…

 


Environment * Politics * U.S. Economy * Religion * Economy


Real News Group Blogs
Political *  Economy * U.S. Economy *  Religious *  Environment/Climate

 


 

 

RNG
Real News Group

 Real News RSS Real News Group Blog

All articles dated and labeled editor are written by the editor, most others are credited to others and will be linked to the original article. Real News Group  takes no credit for other articles and merely comments on the excellent original source, please visit the original source articles on these pages by following their links.
Back to Real News Home Page / Site Map