Replies to post #554855 on Tornado Alley (PROG)

[Hanibal]

Trump 2024 promises made promises broken. Bullshit and lies everywhere. Hasn't lowered energy prices as promised. Hasn't lowered grocery prices as promised. He promised a 10% cap on credit card interest rates - oops that was bullshit too 💩 He hasn't lowered costs at all. He's just crying on truth social. That's all he does. Keep denying it Maga Cultist Rooster. Trump is all bullshit. All the time. America knows that's why America hates him. His approval rating is abysmal 💩

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=177013614

[sortagreen]

No asshole. I buy food. My diet doesn't consist of crawdads and grits.

AI Overview
Beef prices are significantly higher than last year, with reports showing a 14% to 16% overall increase and even higher spikes for specific cuts like steaks and ground beef. This surge is driven by a combination of factors, including record-low cattle herd sizes, drought, tariffs, and market consolidation.
Specific price increases

Overall: Prices are up roughly 14% from last year. The Consumer Price Index for beef and veal is up by 14.69% compared to one year ago.

Ground beef: Prices are up approximately 11.5% to 13%.
Steaks: Prices have surged by over 12% to 16.6%.
Beef roasts: Prices are up 18.4% since September 2024.

Reasons for the price increase

Low cattle supply:
Droughts have reduced the cattle herd to its lowest level in over 70 years, increasing the cost of feed and breeding.

Reduced profitability:
Ranches are facing lower profitability, which puts further pressure on prices.
Tariffs:
Tariffs on imported beef, such as those from Brazil, contribute to higher costs.
Market consolidation:
Consolidation in the meatpacking industry is another factor distorting the market and contributing to high prices.