Meat prices affects Eggheads!!!

johnmitchell

Is it collusion by the main meat processing companies driving the prices up or can those workers now get a good sign on bonus and higher wages in a cleaner environment flipping burgers? Hence the processing companies are having to up their wages and passing it on to the consumer?

Botch

I generally agree with most of your statement, except the part calling it "collusion".  The pandemic has disrupted lives, the economy, markets, career paths, supply chains and so much else; this is just our world "readjusting".  
 

JohnInCarolina

Based on what I’ve read, it’s not any one thing that’s contributing to the rising prices, but many things.   They’re expected to come back to Earth here at least to a degree over the next six months.

lousubcap

Since it is Sunday - always recall NFL actually means No Free Lunch.  Thus the consumer is the last best hope (also we live at the bottom of the supply chain) for business to extract the $$ to cover all the issues raised above.
Vaseline stock is doing well right now.  

Gulfcoastguy

Considering that Whataburger in Mississippi is starting apprentice burger flippers at $12 per hour it is understandable that prices are rising.

Botch

I’ve found it kind of interesting how some of my breakfast/lunch spots have been so different vis-a-vis price increases.  Denny’s has almost doubled, my fav bowl of pho went from $9 to $10, my fav Mexican spot hasn’t changed, nor had my weekly Einstein bagel (in fact, this morning it went down in cost, from the usual $4.20 to $3.88, wat??).  
 
Oh, and did Village Inn go belly-up, nation-wide?  I don’t normally eat there but have noticed all three around me are now shuttered.    

dbCooper

Meat processors have frequently had trouble finding/keeping workers, so that should be a non-factor at the grocery store. 

I don't believe wages on the production line are to blame for the recent price increases either.  Consider:

Smithfield Foods in Crete, NE is starting production workers at less then $20./hour... https://www.smithfieldfoods.com/job/18846-General-Production

In the early 80's I worked during a summer at that plant (Farmland Foods back then) deboning picnic hams, for over $12/hour.  Inflation adjusted, that $12. should now be $37.73   https://www.bls.gov/data/inflation_calculator.htm  I haven't checked, but am fairly confident to say meat prices have gone up more than the 66% that those folks wages have gone up since the 80's.

Collusion is a strong accusation, not sure about any of that.  I do know how to read 10-K and 10-Q's however.  Don't worry about the shareholders of any of the big four processors.  Those corporations profits are in record territory.  

Canugghead

JohnInCarolina said:

Based on what I’ve read, it’s not any one thing that’s contributing to the rising prices, but many things.   They’re expected to come back to Earth here at least to a degree over the next six months.

Already happening to lumber
https://www.cbc.ca/news/business/lumber-prices-1.6177016

Eggpharmer

https://twitter.com/BBQsnob/status/1435757241425174530?s=19

nolaegghead

Monopoly isn't just a game, it's pure unbridled capitalism.  As much as I'd like to think the price is higher because they're treating their butchers better, I'll bet it's because of greed and the absence of competition. 

fishlessman

theres a class action lawsuit going on against the major chicken places, 2009 thru 2020 so mostly not covid related, tyson settled out but not sure how that impacts the class action

https://www.reuters.com/article/us-tyson-foods-chicken-settlement/tyson-foods-to-pay-221-5-million-to-settle-some-chicken-price-fixing-claims-idUSKBN29O2IK

JohnInCarolina

Eggpharmer said:

https://twitter.com/BBQsnob/status/1435757241425174530?s=19

Jesus.

nolaegghead

Bump for educational purposes!

JohnInCarolina

nolaegghead said:

Bump for educational purposes!

Some men… you just can’t reach.

dbCooper

Some insights into the beef markets and the struggles producers are facing in the current climate.  There is a person on the "Main" BGE site that has distilled the macro-economics of high beef prices to Covid stimulus checks and increasing wages.  It's not that simple.

https://omaha.com/news/local/the-state-of-beef-nebraska-s-most-important-ag-sector-faces-uncertain-future/article_b5c967a6-1baf-11ec-857a-37ef6d6fb1e6.html

The article is lengthy, site estimates read time at 13 min, so am including a tl;dr graphic...

fishlessman

deli sliced liverwurst is back in stock, 4.99 a pound, i can live on that i had an order for everyday common stainless sheet with an expected delivery date of december. cancelled that order yesterday and repurchased from a different supplier with a "promise" delivery of november. i need it next week.

Ozzie_Isaac

Beef is going up 'cuz EweTuber influencers are showing all the secret cuts of meat.  Plus all the Biden Bucks being sent out to households.  Everyone is flush with cash so they be buyin up all the goods, which in turn makes prices go up.  Its like if everyone had Ferarri money.  There wouldn't be enough Ferraris and they would have to settle for Lambos.

alaskanassasin

Corn prices are up!

alaskanassasin

Absolutely collusion, read @fishlessman article 

kl8ton

https://www.theatlantic.com/ideas/archive/2021/09/biden-beef-prices-plan/620187/?utm_campaign=DigestThis&utm_medium=email&utm_source=DigestThis_36

Somewhat along the lines of the @dbCooper
article. This was just delivered to my inbox.

Eoin

Eggpharmer said:

https://twitter.com/BBQsnob/status/1435757241425174530?s=19

The big supermarkets here in the UK pay farmers peanuts because they have the distribution.

dbCooper

alaskanassasin said:

Absolutely collusion, read @fishlessman article 

Not even a hint of potential jail time, admit no liability, pay a fine and go on your way.  This seems to be the norm in these cases.  On the other hand, if I rob the local gas station there would be free room and board in my future.

Data that is hard to come by is the amount of the fine in relation to the amount of the ill-gotten profit.  Perhaps this behavior is just good business.

fishlessman

heres a new one for stainless prices.....put your purchase order in now for a december delivery,  we will bill at delivery, material will be priced at a later date.....ooohkaaaay

fishlessman

sliced thin and trim roast beef in the deli just jumped from 5.99 a pound to 9.99 but scored a top round manager special roast for 2.99 a pound. chili on the boat this weekend.