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Friday, December 09, 2011

Economics Education

I caught this across the bottom scroll on Fox news this afternoon ... But I had not heard of it on national news yet ...
" ... next years US corn surplus Is expected to stay small, keeping food prices high ... Dept of Ag estimates farmers will have 846 million bushels of corn on hand at the end of next summer, up less than 1% of last months forecast ... surplus would satisfy demand for less than 25 days ... A healthy surplus lasts 30 days ... USDA estimates that food prices will rise as much as 4.5% for all of 2011 and 3.5% next year ..."


HOLY CRAP!

This means that the $3.49/lb you are paying now for beef (based on our local ad for a nation wide grocery store) is going to be going up ...

$3.65 for the rest of the year ...
$3.77 for the beginning of 2012 ...


I found an issue with my numbers, I did not notice that the original price I used was a SALE price ... Actual price is $4.89/lb (boneless chuck roast)

So applying the increases we can expect to see the price per pound to rise to:
• $5.11 in 2011
• $5.29 in 2012

At least that's the way I am reading it ... My guess is that we will be seeing $5 - $6 a pound meat very soon as the stores try to get ahead of the increases ...

The other bog-box grocery store has beef already at $4.50/lb reg priced (boneless chuck roast)

This means the price will jump (per pound):
• $4.70 for 2011
• $4.87 for 2012

I hope the prices stay low for at least the next couple of weeks as I ordered a pressure canner for my Christmas gift this year ... This means I will be able to put-up fresh meat while the prices are still low ...

Until the end of the year Roundys/Rainbow foods has whole chicken leg quarters for $0.88/lb!

I have a feeling I am going to be clearing Walmart out of canning jars and rainbow out of chicken ... When done properly meat is supposed to stay shelf stable for 3 - 5 YEARS ...

All I'm gonna need is shelf space for it all ... Hmmm ...

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