Food prices climb
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Started by metmike - May 14, 2020, 2:48 a.m.

Food prices climb an average of 2.6%, highest increase since 1974

https://www.cnn.com/us/live-news/us-coronavirus-update-05-13-20/h_6fb175fa72dda488f5e7f4147d069f84


As consumers are buying more groceries and eating at home more often, David Ortega, a food economist and associate professor at Michigan State University, said he thinks it’s less of an issue of grocers taking advantage of the current market environment, and more a symptom of current market conditions.  

“For the most part, it’s supply and demand issues here, at play,” Ortega said to CNN. “What we're seeing here is economic forces at play, but also the resiliency of our food system to be able to provide food at a reasonable price." 


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By TimNew - May 14, 2020, 6:50 a.m.
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For the most part, it’s supply and demand issues here, at play,” Ortega said to CNN. “What we're seeing here is economic forces at play, but also the resiliency of our food system to be able to provide food at a reasonable price."

I find it interesting that at a time when one of the many arguments for reopening is the accelerating disruption in our food supply chain, CNN runs a special mentioning the resiliency of our food system.   Not only is this contrary to their typical gloom/doom messaging of all things during Trump,  it's patently false, as anyone who goes to grocery stores and sees the diminishing selection of meats, produce, etc. knows.

Next, they'll be telling us that 30+ million new unemployed within a few weeks is a natural market fluctuation that will quickly self-correct.

They appear to be relentless.


By wglassfo - May 14, 2020, 10:48 a.m.
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Tim posted that meat export numbers may change lower going forward, [If I understood his post]

Tim may very well be correct, but so far our meat is still in short supply

It is hard to get up to date export numbers, but from what I see, exports of meat are very high compared to other yrs. China seems to be buying the bulk of the meat supplies. We have a meat shortage. No other way to say it that I know

As of the last numbers I could find we had less than 1 week of beef supplies in frozen storage and 1.5 weeks of pork supplies

That is a very thin supply line and we will suffer

I don't know what we should do