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Food Inflation Comes To America: General Mills, Kraft And Kellogg Hike Prices On Selected Food Products
After denying for months that surging food prices will eventually come to the consumer, hoping that instead food companies could absorb the margin drop, sellside research is finally capitulating to the reality of what is really happening in the retail store. In a note discussing General Mills, Goldman Sachs says the company raised prices on snack bars some 7% last week. Goldman further clarifies that "this reportedly followed a comparable increase taken by K on its snack bars in mid-December. In addition, KFT has reportedly announced a 6% increase on select Planters branded nut products. We expect more price increases to be announced by the food companies in the coming weeks." Maybe, but the Chairman sure doesn't. And the Chairman is always 100% correct.
Other observations from Goldman on what are now seen as inevitable price increases across numerous food verticals.
These pricing actions support our Food sector view that price momentum will continue to build as 2011 progresses, driven by easing promotional spending and list price increases (see our 1/5 report, Time to embrace inflation; Upgrade Food to Neutral, GIS to buy). This should drive top-line acceleration and margin stabilization over the course of 2011. Evidence of the progression is already apparent in retail scanner data (see our 1/11 report, Progression to a ‘less bad’ promo environment continues). Scanner data is likely to continue to show a measured pace of price growth. That said, we acknowledge that the growth is likely to build gradually as the pass-through of list price hikes to retail shelves lags and the reduction of promotional spend takes time to execute.
As a reminder, in December, the food component of the CPI increased by 0.1%, the lowest amount since July...
And just to complete the circus, Goldman now views price pass
throughs as a good thing. See: it resolves the margin issue. Uh, yeah.
But someone should explain to Goldman that when calculating revenue, one
multiples Price (P) by Volume (V). And in a stagflationary economy, and
increase in P results in a more than commensurate decline in V,
offsetting all margin boosts.
GIS (Buy) remains our top Food pick and snack bar price hikes reinforce our conviction. To our knowledge, Mills has now executed price increases in categories that account for roughly half of its US retail portfolio (and we think there may be other increases we are not yet aware of). The snack bar price hike alone may tally to 40 bps of price growth at the aggregate US retail segment level (roughly 6% of sales rising 7%). This 40 bps is meaningful when you consider that our model only aspires to 140 bps of price growth on average for GIS’ US Retail Segment over the next four quarters. And the coinciding price moves by Mills’ competitors reduces the risk of cross-price elasticity-driven volume softness. Our PT is unchanged.
And to the Fed, which erroneously believes that a one day sell off in stocks will prevent oil (and food) prices from posting double digit returns on the back of several trillion pieces of linen printed globally in 2010, you have our condolences.... Better keep those emergency evacuation G-Sixes fueled, staffed and ready.
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Margin maintainence bitchez!!
How else do you support P/E ratios of 5000x and massive insider sales? Move all jobs to China and pay those slaves $.0002 per day.
YOU MEAN THEY GOT A RAISE?!!??
THOSE BASTARDS ARE GETTING GREEDY!!!
Wait- did you see THIS?!
http://news.ino.com/headlines/?newsid=68975817777781
WTF IS GOING ON?!
Time to abolish religion! SAVE A BUCK! (or Drachma)
DOW is green. Nuff said.
You can always tell when they make the green squares out of Americans. Greasy mo fo's
And on a more thought provoking note: will the food retailers attempt to eat some of these increases in order to keep people visiting their stores? Or are their margins already too thin to help keep the populace in the dark any longer?
Isn't CNBC running a special this week about supermarkets? Here it is, Supermarkets Inc. tonight, Thursday 01-20-2011.
http://www.cnbc.com/id/40887785/
A year or so ago there was a story about supermarkets scamming shoppers by not resetting scanners for special sale prices. The advice was to compare prices after you checked out in case your store was cheating.
I always watch the numbers while the items are being scanned. About every second trip I find a problem, usually with something not scanning on "sale". While I might not remember every sale price I do remember exactly what should be on sale. And I always stop the checkout person when something doesn't look right.
My adult son paid me the best compliment the other day. When he was young he always dreaded going to the supermarket with me because I would fight over a quarter. And back then the scanners were wrong every trip on multiple items. But the other day he said to me "Dad, you're the last person I would want to be behind in the checkout line and the first person I would go to if I had a problem because I know you would fight to the end."
At least I told myself it was a compliment. :>)
It's a compliment, or at least it would be to me.
I always give fair warning to people who come up behind me in line. I've got a lot of coupons and a spreadsheet. I don't buy anything that's not on my list and I only shop from the sales circular, so I know what my total should be down to the penny.
Meanwhile Steve Liesman waits patiently for wage inflation - because that's "real inflation". Commodity prices are noise nothing more.
I gotta give to guys like he and Bernanke that can sit there with a straight face and tell me that the CPI is benign. Takes a large set of attachments to roll that bullshit out, and brass ones at that.
You give them too much credit. The brainwashed and evangelized don't believe they are lying, thus there is no emotional discomfort involved. Though Bernanke's last 60 Minutes appearance did show some cracks in the facade.
because in all other inflationary environments like Chile, Colombia, Argentina, Brazil, Mexico, Russia, Hungary, etc., wages ALWAYS caused the inflation...right? Oh no wait, they didn't
The MSM or it is LSM don't tell the average reader/viewer that food and energy are excluded from hte CPI. Therefore, the shoppers see the rise in food and energy and are confused, just as the MSM wants.
Certainly no threat of wage inflation with 20% unemployment...
My buddy in Arizona does desktop IT support...he got laid off recently and let me know that in looking for jobs, he found out that his job now pays about a third of what it did when he got hired 5 years ago. So yeah, Liesman's gonna be waiting a while...
Retail grocery has the thinnest margin and highest entry costs of almost any industry in the USA.
maybe so, but which is it? is the price going up or the value of the $$$ going down?
'Which is it'? LOL you cant be serious...or maybe you work at the FED?
I guess really, since the answer is both, it's a fair question.
Correct about the margins. So it's always about volume !! In SoCal, I have 13 grocery stores/warehouses within a 5 mile radius of my home. Each have been price cutting against each other for years and even more so recently. I suspect some will go bye-bye as the margins squeeze down further. With that kind of competition around, attentive shoppers know what to buy and where and when to go. And the self-bagging/no credit cards are the best in overall pricing. Like the gasoline business, the retail food market will have you pumping up your own bag and checking yourself out. They are only optional indoctrinating now.
Cereal and chips are the biggest ripoffs. I won't notice a price hike.
http://www.youtube.com/watch?v=yKtWMqW4ICM
Johnny Guitar Watson Ain’t That A Bitch lyrics
Eew, Lord have mercy, I can't get ahead, no way I try
Everything is out of pocket, somebody do somethin'
The brother's situation is abstract, listen, mm
Listen
I'm workin' 40 hours, six long days
And I'm highly embarrassed ev'rytime I get my pay
And they're workin' everybody
Lord, they're workin' poor folks to death
And when you pay your rent and your car
Note, you ain't got a damn thing left
Ain't that a bitch - yes it is
Somebody doin' somethin' slick -
It's got me wonderin', which is which
Might as well go uptown and dig a ditch
Ain't that a bitch - yes it is - now ain't that a bitch
But let me tell you about my qualifications
I program computers
I know accounting and psychology
I took a coarse in business
And I can speak a little Japanese -
Got to work two years to get one week off with pay
And when I'm on my job, I better watch every word I say
Ain't that a bitch - ha ha, boy
Somebody doin' somethin' slick - downtown
It's got me wonderin', which is which
Might as well go uptown and dig a ditch
Ain't that a bitch - it's way too cold - ain't that a bitch
Make me wanna holler
Ah Lord, Lord, Lord, have mercy to see
Won't somebody please help me to see now, Lord
I wanna play the guitar, come here guitar
Aw, somebody doin' somethin' slick
Now listen at this
Stopped at the supermarket to get myself somethin' to eat
And when I looked at the prices, it knocked me off of my feet
I was in the baloney section, and I had to take myself a close look
Now Abdul Jabar couldn't have made these prices with a sky hook
Ain't that a bitch - he he, yes it is
Somebody doin' somethin' slick -
It's got me wonderin', which is which
Might as well go uptown and dig a ditch
Ain't that a bitch - hm - so ain't that a bitch
Oh, ain't that a -------- bitch
Sure is somethin' slick goin' on, sure is somethin' slick
Sure is somethin' slick goin' on, sure is somethin' slick
Ain't that a -------- bitch
Sure is somethin' slick goin' on, sure is somethin' slick
Sure is somethin' slick goin' on, somebody sure is slick
Ain't that a -------- bitch
Sure is somethin' slick goin' on, sure is somethin' slick
Sure is somethin' slick goin' on, sure is somethin' slick
Sure is somethin' slick goin' on, sure is somethin' slick
Ain't that a -------- bitch
Sure is somethin' slick goin' on, somebody sure is slick ....
This Goldman report does call to mind a recent piece I read indicating that the price per pound of dressed squid has dropped significantly over the past 24 hours.
Sheessse! Don't worry mon! The Bernank's got this! 100%. Guaranteed. In 15 minutes or less. Everything solved. 100% insolvent proof too! WOW!
Please, I beg of you, do whatever else you want. But leave my Mac and Cheese alone.
Noticed KFT mac & cheese, which has been around 2 for buck for ever, is now $1.43/box. Too late CD.
When I was in college....I lived on it......17 cents a box then...
When I was a student, I had a room above a Turkish Pitta restaurant and across the street there was a Illy coffee bar and next to it a Bar.
In those day it was my little universe :)
This means war. :>)
No kidding. It was the only thing making free-range alley cat palatable.
Whoever junked you is a moron. That was pee in me pants funny.
The only thing that has a chance of sparking the next American revolution is a threat to food supply.
As long as an American has a cheese burger in one had and the clicker in the other, their government can do what ever they want to them.
The last 4 years exists as proof!
you're right, pladdy.
so many people on here saying the pitchforks are out and such things as that but a pitchfork or two in a whole herd of bovine isn't very intimidating.
until the family's decision comes down to choosing between supper or the cable tv, ain't nothin gonna happen.
for all the calls to action the question remains unanswered: who will bell the cat?
The sad part is that 43 million Americans have faced that choice. Fortunately for them, they can leave the cable on, and go get food stamps.
Agreed. Too funny by a mile. Brings all kinds of images to the mind. I instantly thought of Julia Child.
free range alley cat. mmmm mm. gives paws for thought when hungry.
+lol
anyone remember this?
http://detnews.com/article/20090402/METRO08/904020395/To-urban-hunter--next-meal-is-scampering-by
Holly shit thats funny or err sad or ... it says something... oh wait family guy is on tbs for 2 straight hours tonight! that will help ease the pain of the obvious... wouldn't it be great to have Brian on family guy go off about JP MORgue Santelli style... when that happens I'll know PM Mania is here
Free range alley cat, LULZ
Try dog. You'll never go back.
Wok the dog.
Stock up on soy sauce.
Go to BJs and buy 100 20 packs and store them with your gold
They will leave the formulation alone, but it will cost you more money.
Not too big a price to live in the Home of the Free to eat as you choose,
but an increase none the less.
I dare you to look here http://farm3.static.flickr.com/2204/2119613470_6413e31ea7_o.jpg , and not make some this evening.
With or without the bugger?
Ah! Me and my daughter still eat it all the time. Can't take it away---no!!
Cog, my ultimate comfort food is KD with chopped up hot dogs mixed in - very yummy!
Add a dash or two of Worcestershire sauce. It changes the color a bit and tastes great.
Long before actual price increases are implemented packaged goods companies cut back on promo activity, which for all intents and purposes amounts to a price increase. Still others modify formulations and maximize efficiencies. Long ago food companies learned to source ingredients globally e.g. the dehydrated strawberries in your Cheerios come from China and in recent years back office functions have moved to India etc. There ain't much more to take out of the system: packaging has long since been light weighted; factories have been consolidated and automated; and with help from the good folks at Big Agri, that grain of genetically modified wheat and touch of natural artificial sweetener are part of a balanced diet that in combination with the hormones and antibiotics in your milk will make you the picture of health until you are diagnosed with a form of cancer that didn't exist 50 years ago. Transportation costs, energy costs, diversion of crops to ethanol along with the impacts of QE 1&2 on commodities have left the food companies with no other options.
Of course the people who will feel this the most are the middle class who don't (yet) qualify for food stamps.
I can produce all the milk I need!
I need a jug, er, a gallon from you if you can spare it for a ZHer!
There products are junk anyway! Garbage food with no nutrients that are actually stuffing piglet people yet leaving them malnourished. Great way to waste value on food stamps! Thanks Tony... You're Great!!
If Taco Bell starts raising their prices, that will defo put a pinch in my wallet.
i went to taco bell last w/e. first time in at least 2 years. wtf happened to their $1 menu? $1.39 for a double decker and $1.59 for a chili cheese burrito. Outrageous!!!
Last time I went to Taco Bell, I had to seal off one of the bathrooms in my house, permanently.
Ben: Rollin' in my G5, G5...
At the supermarket the other day, there was some mac n cheese, individual serving. Now mac n cheese from the deli section, being made with real cheese, is never going to be cheap, but they were selling a single serving for nine fucking dollars!!
Nine dollars? It must have had chunks of Spam in it.
See my post above. There are a horde of desperate men such as myself who need their daily fix of Mac and Cheese. Do what you want with the price of all the other food. But keep your fingers off my Mac and Cheese or we shall come to blows. :>)
Once they attack the price of Cheez Doodles and the Dollar Menu, all hell will break loose!
Indeed...
Sesameeditus of the breastesus'!
Well that is about the creepiest thing I've seen today, but I've still got a few hours left...
Seriously most people develop fear of clowns as children...my fear of a child clown just started.
That baby clown freaked me out!
absofuckinglutelly priceless!!
I think it had real bits of panther.
I've eaten cougar . . .
+ 100
(how many licks does it take to get to the center of a tootsie-pop?)
So have I. And she was very tasty!
..
Bernanke has told all energy, food, educational, health insurance and other 'volatile' sector companies to hike to the moon, as their prices aren't incorporated into the CPI.
Take it away, Bernank:
As I walk through the valley of the shadow of death
I take a look at my life and realize there's not much left
Cause I've been blastin' and laughin so long that
Even my ma'ma thinks that my mind is gone
But I ain't never crossed a man that didn't deserve it
Me, be treated like a punk, you know that's unheard of
You better watch how you talkin, and where you walkin
Or you and your homies might be lined in chalk
I really hate to trip, but I gotta loc'-
As they grew I see myself in the pistol smoke, fool
I'm the kinda G the little homies wanna be like
On my knees in the night
Sayin prayers in the street light
Been spending most our lives living in the Banksta's Paradise
Yeah!!
Keep spending most our lives living in the Banksta's Paradise
Keep spending most our lives living in the Banksta's Paradise
LOL pretty funny.
what happen??? Why couldn't they just continue to shrink the product!!!
Folks won't be able to find the stuff on the shelves without squinting
Shrink the product and increase the price - sounds like a win-win to me!
It's all part of Obama's plan to fight American obesity.
http://www.google.nl/url?sa=t&source=web&cd=1&sqi=2&ved=0CB8QFjAA&url=http%3A%2F%2Fwww.whitehouse.gov%2Fthe-press-office%2Fchildhood-obesity-task-force-unveils-action-plan-solving-problem-childhood-obesity-&ei=u5w4TZaUOMqBOtXwxbsL&usg=AFQjCNHz8JVLdvDOZ6CQYZW7e7tYLzOMgA&sig2=yyMKw6a69uzFnJovp_RzRg
They knew it was comming and that is their excuse. Just watch and see. I'll be right again :)
But we need fat children. They will make an excellent subtitute for veal in the days to come.
Ooo...junked for comedy?
I'm already redesigning a pre-school based on plans invented by Temple Grandin.
Sorry, dont eat veal. But there are some 16 year olds in the local HS I could go for.
I know, I know, very poor taste. My joke, I mean, not the 16 year olds.
Be careful; 16 will get you 10 to 20.
Consumers began noticing the package cost more than the product. Stores will have to return to the bring your own container for the old general store package free product paradigm -- think customers with pillow cases and old mayonnaise jars forced to scoop and dip products from kegs, tubs, vats, bins, crates and barrels at the Ye Olde Costco.
*laughs*
T/Y for posting this - made my day.
~Misstrial
Well pretty soon they'll exclude everything from the CPI so they can claim everything is hunky-dory. MOPE MOPE and more MOPE.
http://jsmineset.com/2010/11/17/how-management-of-perspective-economics-...
When food companies decrease the volume of a product without lowering the price, it doesn't show up as inflation.
Whats Mish been saying about commodity prices lately ?
I don't go to his blog since he pulled a Paul Krugman on Gonzo Laria.
This willprecipitate the downward movement in the markets.
You dont need to eat that sugar shit anyway....a diet of the mind, body and wallet.
it works!
LOL........"stay away from unhealthy food choices" says the person who's handle is THE food staples list of most urban landscapes.
You dont need to eat that sugar shit anyway....a diet of the mind, body and wallet.
it works!
Amen brother. Eat German Bologna, The food of the Gods.. Its good ( And cheap). Made with real pork lips.
Soon organic food will be less expensive (nominally) than non organic food (peak oil). I say nominally because organic food has twice the amount of anti-oxidents that foods sprayed with pesticides have, so even if an organic apple is twice the price of a non organic, the health benefits outweigh th price increase.
And by the by, economists only see what they want. P x V? Some other time, for now, they are busy using Chinese growth estimates.
That is incorrect. The only thing organic food has less of is pesticides. Pesticides do not affect the nutritional value one whit.
People often make the mistake of believing in sympathetic magic (http://en.wikipedia.org/wiki/Sympathetic_magic)
"Something that is bad touches something else, therefore the thing it touches is bad. Don't define what "good" or "bad" is. Just avoid it. Non-organic food has pesticides, therefore it has less nutrients." This is wrong. One does not have an effect on the other. Be careful to avoid this kind of thinking. Think of causes and effects instead of "guilt by association".
It won't be organic farming that benefits from "peak oil" or economic collapse in general, but rather LOCAL farming will benefit. A lot of organic food comes from China. If the price of shipping goes up due to high fuel costs, then there will be a lot less organic crap on the shelves. There will be a lot more stuff grown by local farmers, though. It will also be picked riper than it would be otherwise, so it will actually taste better and be more nutritious.
What organic food comes from China? I'm not familiar with anything substantial. I think most truly organic food consumed in America is grown in America... thankfully.
Mexico and Argentina too. China does grow some, I've seen it; but don't trust it.
'Organic' in Mexico means fields irrigated with raw sewage. No shit.
Actually Sheep, plenty of shit!
dang, you beat me to it...
you are dreaming if you think your organic fruit and veggies come from a fertile valley somewhere in Oregon or similar.
from wholefoods website
http://www.wholefoodsmarket.com/products/sourcing.php
from the NYT
U.S. Drops Inspector of Food in Chinahttp://www.nytimes.com/2010/06/14/business/global/14organic.html
and check out this
http://www.nancyscola.com/cheaper-by-the-dozen-the-dark-side-of-the-orga...
Bottom line is if you do not know the folks who are supplying the organic products, you are relying on the same agency that oversees the factory meat, chicken and egg processors in flyover country and Big Agri in Cali, Tex and FLA
Think about it for a moment, how can everyone from HEB to Vons to Trader Joes to Kroeger to Whole Foods supply organic veg and protein without going offshore
And not to diparage those companies but do you really think that the laborer in Xinjiang making 20 cents a day pisses in the factory bathroom facilities and then carefully washes his hands before heading back to the fields. How about his manager charged with improving yields who is saving for an iPhone and was just paid a visit by the local Monsanto rep.
I agree and when I do buy organic, I try to buy local. I also make decisions on the individual food item. Organic milk is so much superior than the regular stuff and lasts longer so I will pay a premium for that. Same with meat. Here is an article that reverberated with my mindset on organic/non-organic shopping:
http://greenopolis.com/myopolis/blogs/aresende/what-you-should-shouldnt-buy-organic
Standards the same in China, Brazil, Thailand, etc.? Absolutely not.
Standards vary country to country, as does enforcement of the standards. What passes for "organic" in Thailand definitely does not pass for organic in the US. The chemicals that can or cannot be used, the time that must pass on land without using proscribed chemicals before the land is considered "clean", how a farmer must certify that he or she is meeting the standards, etc.
Given the litigious nature of American society, I smell a lawsuit coming against Whole Foods. Any ambulance chasers out there looking for a case?
Wait. Did you just claim that eating pesticides is nutritionally neutral?
Do you claim that pesticides change the carbohydrate, fat, protein, or fiber content of vegetables? You think they destroy the vitamins? Or do they transmute the minerals?
Sympathetic magic!
Not change as such. But proper assimilation might suck wind when your liver is broken. And then there is always cancer and we all know what that does to appetite.
But yes, you are right. Nothing about the fats will be any different.
But of course. And it does not take a destroyed liver. A simple diarrhea is enough to lose much of the nutrients you ate.
The nutritional value isn't affected by pesticides but by fertilizer. The are a lot of micro-nutrients missing in massed produced mono crops because the petroleum based fertilizers don't include them and the soil is void of nutrients due to the style of farming. Our biochemistry is pretty complex and needs a large variety of micro and macro nutrients to function properly.
Vitamin Cottage, bitchezzz!!!!
For everyone else, there is Soylent Green.
Top of the ninth and it looks like the home team will bring in the relief pitcher for LH. DoomerMarx gets the call...and he strikes out the side, game over folks.
@ Mosley:
You are incorrect also, equating USDA organic to what organic *should* be. USDA organic is a wishy-washy biased 'standard'.
Wish I could post my pictures here. You guys would see what my "highly organic" plants looked like. That was before the chemtrails attack...
I always thought your name was Lemon Hendrix but I digress, if your orgainc apples come from a little farm near Santa Rosa that your are familiar with, you're good to go. (just be sure to wash them well in case a bit of E.coli from the cow grazing nearby happened to touch it). But beware the USDA and orgainc products and beware the USDA and imported Organic or any food from China unless you count human excrement as natural fertilzer.
http://www.nytimes.com/2010/06/14/business/global/14organic.html
http://bit.ly/eALArH
Just bought a 1/4 cow from Santa Rosa- organic, free range, best beef you've ever had - $5 a pound
They already passed a bill to take care of that potential competition...S.510
http://www.naturalnews.com/030799_food_freedom_Wickard_vs_Filburn.html
I don't know what these guys are talking about. Ramen is still $0.25/pack plus the cost of heating. But I don't pay utilities, so suck it.
Cook it with a couple chopped jalapenos (for green veg) and a clove of garlic, then beat in an egg, return to heat 60 seconds to cook. If you're celebrating, dump in a can of tuna.
Takes ramen to a whole nuther level.
Yes but Ramen is so awful and worth only .01 cent per pack.
Used to be 6 for a dollar, so a 50% increase since then (that was a while ago...)
In rural SEAsia, ramen is a snack right out of the bag. Open it, take out the two packets, put the bag on the ground and step on it to break up the noodles, then sprinkle the seasoning powder into the bag. Crunchier than Doritos, and get a whole week's worth of palm oil in one serving.
Where did all the deflationists on this website go?
I still believe in wage and housing deflation - you change your mind?
I'm referring to the paper bugs deflationists, who actually think the USD will do better than PMs in the coming years, and that deflation will happen in every corner of goods and services.
It is obvious that first on a nominal and relative basis, then on a relative basis only - when high inflation would have become hyperinflation -, the deflation in housing will continue, and the deflation in wages will begin.
And for all the suckers who don't believe in hyperinflation, because it sounds too catastrophist or non-imaginable, I'd say that most suckers in the 1921 Germany felt that way too, just like most people didn't believe in the collapse of the USSR, or the revolution in Cuba.
My bad. I'm in the 'fiat going up in flames' camp too....
Laughing at what happens next when non-SNAP consumers stop purchasing these products.
Wait. Is anyone out there not on SNAP?
they be flying the white flag of surrender!
Well there IS also deflation...just try to sell your house!
I guess they can't shrink the packaging any further. Price increase is the last resort.
Inflation? There is no inflation. You guys are conspiracy monkeys. Plus no need for apples when we have AAPL. Food?!?!?! I don't need no stinkin food.
Here we go. This is what is wrong with wonks mucking in free markets. Everybody is starting to ramp up prices right when the specs are getting spooked out of equities and commodities WHILE wages are stagnant for most folks.
Double dip, here we come...
Safeway has gruel for $6.99/pound.
Gruel...it's what's gonna' be for dinner.
Ben 'B52' Bernank's Gruel™. Ask for it by name at your grocer's deli counter.
Porridge is cheaper... I buy a couple of pounds of steel cut oats at Whole Foods for less tan 5 bucks, a little milk, pat of butter and BAM! The caviar of grains! Anyone who eats out of a box or can is looking for big calories and pre-diabetic condition... so you want so Gubbermint health care? Whazzat?
Got you beat. I buy 50Lb bags of oat groats at my local feed store for $20 a bag. Store in a couple of 5 gallon buckets and dispense at will. I did notice that rice went up from $16 for 50Lbs to $19.50 las time I was at Sam's (about 15% increase). Picked up a bag anyway.
The percent increase is (19.50-16)/16 and is .2187 or 21.87%
Please Sir.....I want some more.
Looks like you've had plenty already.
Maybe you should share!
I don't buy that double-pre-packaged crap anyway.
Don't worry, it's coming to a produce section near you.
It does not matter how high groceries or gasoline go. I have infinite room to cut back in other areas. Other parts of the economy will suffer, not me.
My local grocers started using the "boiled frog" technique on pricing in mid-December. Every week they turn up the heat a little more.
Ex> The eggs I buy were $2.29/doz in November. The went to $2.39 in early December, them $2.79 by Christmas. This week they are $2.99.
It feels like they got more aggressive across the board after New Year's though.
sausage I sell my eggs for $2.00 a doz my hens lay more then we can eat nice large free range brown eggs... I'm not gonna raise the price though my friends and neighbors that don't have their own hens buy them.
They just legalized six chickens in every yard in my city...cheap source of protein now that they are taxing the hell out of the fishing licenses, which use to be a great source of FREE NE saltwater fishes....
Yes but that 50lb sack of chicken feed has most surely going up. But at least you get those nice dark orange yolks that stand up in a pan like a hard on instead of those pale yellow drippy azz corporate eggs where the chickens only receive enough grain for a maintenance diet
yeah the feed has gone up... i had one person ask me what was wrong with the yolks being dark orange and thick...hahaha I told her nothing is wrong with them that is how they are suppose to be! the ones you get at walmart are "wrong"
I do get some feed from a warehouse that throws out broken bags(i have to admit I dumpster dive) so sometimes I get it for free!!
Yeah, feed has gone up a buck or so in the last year but if you feed them nothing but that and they don't have access to forage you're getting the same egg you can buy in the store. I got my own after seeing local 'organic eggs' where the hens are in cages and fed bagged feed, how is that different than a production farm? Mine get grass and whatever they scratch up plus scraps(watermelon disappears like magic) and the feed is only a supplement plus some crushed oyster shells. I get 5 eggs a day off 5 hens(wish the girls in HS had put out with that regularity) so I sell mine to neighbors for $3dz since they are $5 in the stores. I also buy oats at the feed store and plant it like grass for them. BTW, feed stores have steel-cut and rolled oats in bulk too. Same crap you get in the stores just in big bags. Put it in ziplocs and that big bag sets you back just $14 in most places. Kicking myself for enriching lawyers in past years and not getting my PM's and other essentials in place sooner. But I can grow, brew, distill, and 'culture' more than I need so I may just be in a better situation than most...
Didja know that if you feed your chickens ground lobster shell they'll produce red yolks?
Now that'll brighten up your breakfast.
Had a sitting hen hatch 8 chicks, but since she only had 6 tits, had to get rid of 2 of the chicks to ensure survival of the other 6...
I suspect many food retailers had contracts in place that may have expired at the end of the year.
For example, I would track the price of Wal Mart canned chicken. Over the entire year, it never budged from $2.09, even tho oil prices and feed prices etc all fluctuated. ie, some kind of contract in place.
WTF is "Wal Mart canned chicken" ???
What part of the phrase did you fail to understand?
OMG store brands!
Idiot... that was the SAME can of chicken that NEVER moved off the shelf. Next time you do a survey, mark the can with a marking crayon....where do we get posters like this one????
Please tell me that by "canned chicken" you are referring to a product like tuna fish in a can and not some hideous carcass stuffed into a can.
No its a chicken carcass, stuffed into a can.
Oh....
I suppose when even the idea of a supermarket becomes legend, it would sound tasty.
Either that or a hollow point slug.
I looked it up and how do these folks think that adding the word 'chunks' to the label makes this stuff appetizing? http://www.pleasanthillgrain.com/canned_meat_canned_chicken_canned_turke...