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Friday, January 21, 2011

Economic education

Okay - welcome to the 1970's and then some!

Corn prices are going up which effects more than just your cereal costs
$4.69____$6.20___________Corn Flakes (18 oz box)
2.65______3.05___________milk ( gallon)
3.68______4.23___________bacon (1 pound)
1.65______1.98___________eggs (dozen)
3.39______4.58___________ground beef (1 pound)
remembering that this would be for regular grind meat and that ground beef is probably the most popular fresh meat product purchased, and that it is often made from the scraps after cutting the other steak/roasts - this is a huge price to pay.  In fact, I don't ever remember it being that high ... I can remember when my parents moaned when the price was over $1/lb.
Same for milk - don't know how many of you remember the freeze on milk prices in the 70's ... and the farmers dumping truck loads of milk on the steps of state capitals because it cost them more to ship it to the dairies than they were earning.
Corn up 98%
wheat up 83%
soybeans up 51%
food prices expected to climb
3.5 - 4%
this year (2011)
Source: wsj/wells-Fargo
They are warning of food riots already ... Time to check the freezers and stock up for the next two years ... Maybe more

And then hope that we don't lose power again ... Already had to toss food from this last time.

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