July 4 Barbecue Costs Climb to Record

[Ricter]

Corn Avalanche Coming as Rain Trumps U.S. Planting Slide
By Jeff Wilson Jul 7, 2014 7:44 AM MT

"The 8-foot (2.4-meter) corn stalks on Bill Long’s farm in southern Illinois are so big, green and healthy that he wishes he’d sold more of it sooner.

"Like many growers across the Midwest, Long expects a second straight record crop that will boost domestic stockpiles already at a four-year high. Output in the U.S. will jump 2.8 percent to 14.314 billion bushels, the most ever, researcher The Linn Group Inc. estimated in a July 1 report. Even after fewer acres were planted, the wettest June on record left fields in the best condition since 2003 and sent prices into a bear market two months before the harvest starts.

“There is a wall of grain coming at us,” said Roy Huckabay, an executive vice president at Linn Group in Chicago, said in a telephone interview July 2.

"Two years removed from a devastating drought that damaged crops and sent prices surging, farmers will see yields rise 4.1 percent to an all-time high of 165.3 bushels an acre, government data show. Rising grain output in the U.S., the world’s largest producer, is keeping global food prices in check while boosting profit for meat producers including Tyson Foods Inc. and makers of sweeteners and ethanol including Archer-Daniels-Midland Co. (ADM)

"Output of corn in the U.S. will jump 2.8 percent to 14.314 billion bushels, the most... Read More

"Futures have tumbled 21 percent since the end of April on the Chicago Board of Trade, slipping into a bear market on July 3."

More>>

 

[Tsing Tao]

Lol. It sucks when reality doesn't cooperate with your worldview, huh?

Are you asking yourself this question? My worldview (that food inflation is not low and is rising) is reflected just fine in the data. Your belief that food inflation is low (54 year low, right?) is not. So what say you? You do realize you're the only one who isn't a mainstream economist that believes this crap you shovel, right?

And why can't they use milk for their cereal, it's down too!

It is? Down since when? Here's the latest CPI report

http://www.bls.gov/cpi/cpid1405.pdf

Shows milk prices have risen vs. YAG and last reported period. What milk is "down"?

 

[Tsing Tao]

Corn Avalanche Coming as Rain Trumps U.S. Planting Slide
By Jeff Wilson Jul 7, 2014 7:44 AM MT

"The 8-foot (2.4-meter) corn stalks on Bill Long’s farm in southern Illinois are so big, green and healthy that he wishes he’d sold more of it sooner.

"Like many growers across the Midwest, Long expects a second straight record crop that will boost domestic stockpiles already at a four-year high. Output in the U.S. will jump 2.8 percent to 14.314 billion bushels, the most ever, researcher The Linn Group Inc. estimated in a July 1 report. Even after fewer acres were planted, the wettest June on record left fields in the best condition since 2003 and sent prices into a bear market two months before the harvest starts.

“There is a wall of grain coming at us,” said Roy Huckabay, an executive vice president at Linn Group in Chicago, said in a telephone interview July 2.

"Two years removed from a devastating drought that damaged crops and sent prices surging, farmers will see yields rise 4.1 percent to an all-time high of 165.3 bushels an acre, government data show. Rising grain output in the U.S., the world’s largest producer, is keeping global food prices in check while boosting profit for meat producers including Tyson Foods Inc. and makers of sweeteners and ethanol including Archer-Daniels-Midland Co. (ADM)

"Output of corn in the U.S. will jump 2.8 percent to 14.314 billion bushels, the most... Read More

"Futures have tumbled 21 percent since the end of April on the Chicago Board of Trade, slipping into a bear market on July 3."

More>>

GRAND JUNCTION,Colo. Barbequing is a summertime favorite especially around Independence Day, but this year many Americans have to pay top dollar for most barbeque favorites.

Right here at home everywhere from large grocery store chains to specialty meat markets is feeling the strain of higher beef prices.

"They've really skyrocketed in the last 12 months, I would say they gone up 15% maybe more in some case," said Kathryn Bedell, Owner of the Roan Creek Ranch and store.

Nationally statistics show beef prices for the fourth of July compared with last year are up 16%.

Bedell who owns her own ranch and small grocery store in the valley says she has had to raise her prices twice already to keep up with the cost of beef.

She said the demand for beef has stayed the same but the supply has gone down drastically and a water shortage is to blame.

"The drought in California and Texas are huge."

According to Bedell, the higher prices haven't stopped people from buying beef.

But for Sarah Martinez the rising prices of beef and other grocery products have affected the way she shops.
However she knows that doesn't stop most people from still buying those products.

I think if you want it you’re going to buy it, if it's something that your set on buying then you get and if not the difference," said Martinez.

Beef prices aren't the only items that have gone up significantly since last year, Bloomberg reports the price for tomatoes is up 12% from last year's July 4th, as well as ice cream which is up nearly 2%.

Other favorites that increase around the holiday weekend are white bread, American cheese, Iceberg lettuce and potato chips.

Local meat markets and grocery stores say they don't expect prices to drop too much after the holiday weekend is over.

(I can cut-and-paste stuff too!)

 

[Ricter]

GRAND JUNCTION,Colo. Barbequing is a summertime favorite especially around Independence Day, but this year many Americans have to pay top dollar for most barbeque favorites.

Right here at home everywhere from large grocery store chains to specialty meat markets is feeling the strain of higher beef prices.

"They've really skyrocketed in the last 12 months, I would say they gone up 15% maybe more in some case," said Kathryn Bedell, Owner of the Roan Creek Ranch and store.

Nationally statistics show beef prices for the fourth of July compared with last year are up 16%.

Bedell who owns her own ranch and small grocery store in the valley says she has had to raise her prices twice already to keep up with the cost of beef.

She said the demand for beef has stayed the same but the supply has gone down drastically and a water shortage is to blame.

"The drought in California and Texas are huge."

According to Bedell, the higher prices haven't stopped people from buying beef.

But for Sarah Martinez the rising prices of beef and other grocery products have affected the way she shops.
However she knows that doesn't stop most people from still buying those products.

I think if you want it you’re going to buy it, if it's something that your set on buying then you get and if not the difference," said Martinez.

Beef prices aren't the only items that have gone up significantly since last year, Bloomberg reports the price for tomatoes is up 12% from last year's July 4th, as well as ice cream which is up nearly 2%.

Other favorites that increase around the holiday weekend are white bread, American cheese, Iceberg lettuce and potato chips.

Local meat markets and grocery stores say they don't expect prices to drop too much after the holiday weekend is over.

(I can cut-and-paste stuff too!)

You cut and paste to start this thread, so we already knew that. Anyway, you're arguing with this latest that US food prices are up. We knew that, too, and why. Did you want to deny the pork disease and cull?

 

[Tsing Tao]

All you do is cut and paste. You've got no commentary of your own. You're like a internet parrot. Rawk!! Prices are low. Rawk!!

I'm not saying that inflation isn't partly caused by things like disease or drought. Please show me one post anywhere that I said these things do not drive inflation. Your failure to dig up any such post is more evidence of your bullshit.

Of course that stuff influences price. But with cheap money and banks speculating (driven by Fed QE) moves in any commodity or asset price is exacerbated when events like this occur as there is more money to chase price movement. If you cannot grasp this concept then there isn't anything I can do to make it more simple for you. I suppose I can check to see if the Federal Reserve makes a fucking coloring book on the subject for 3rd graders.

More money in the system = price moves exacerbated. Too much money chasing too little goods = inflation. WTF is so hard about this subject?

 

[Tsing Tao]

Inflation + this = bad times for the consumer.

 

[Tsing Tao]

Japan's experiment in making our QE experience look like pissing in a bucket. Seems to be working well for them. Keep in mind this is only reported inflation and earnings. The disparity is likely greater.

 

[Ricter]

All you do is cut and paste. You've got no commentary of your own. You're like a internet parrot. Rawk!! Prices are low. Rawk!!

Back at ya. "Rawk, prices are high!"

 

[Ricter]

But while we're on the subject of volatile prices, how are gas prices in Tampa looking lately?

<img src="http://charts.gasbuddy.com/ch.gaschart?Country=Canada&Crude=f&Period=24&Areas=Tampa,,&Unit=US%20$/G">

 

[Tsing Tao]

Back at ya. "Rawk, prices are high!"

You must have missed where I offer actual insight on why this is the case without the use of cutting and pasting. Convenient.

Incidentally, are you practicing your "I-know-you-are-but-what-am-I?" insult for later today at recess?