Meat Prices Surge Most In 11 Years

Tyler Durden's picture




 

Hardly surprising given the surge in beef and pork that we have been noting, but according to the latest inflation data from the BLS, meat prices spike by almost 3% in April - the most since November 2003 (this is also the 2nd biggest price spike in 34 years!) As we noted previously, this soaring food price inflation is not about to stop anytime soon...

 

 

And just the monthly change: No hedonic meat adjustments here.

The Fed 'meme' that low-flation is as dangerous as high-flation (thus providing them an excuse to keep priming the pump) is about to run into a problem as the hedonic manipulation of government-provided inflation data runs into the ugly reality of things that we need actually soaring in price...

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Thu, 05/15/2014 - 13:05 | 4763120 gmrpeabody
gmrpeabody's picture

KNOCK IT OFF, you two...

Thu, 05/15/2014 - 13:07 | 4763123 LawsofPhysics
LawsofPhysics's picture

Are we scaring the sheep/meat?

hat tip to kchrisc for the following;

The Four Rs
Rejection: Quit paying, quit obeying, quit playing
Revolution: It is inevitable, so prepare, as they are.
Retribution: The guilty must answer for their crimes against the American people and the Constitution.
Restoration: Restore the Constitutional republic.

Thu, 05/15/2014 - 12:41 | 4763023 Tortfeasor
Tortfeasor's picture

There will come a point where credit for the masses stops, either due to bankruptcy, inability to carry the payments, or the masses refusal to leverage theoretical future income.

Thu, 05/15/2014 - 12:57 | 4763092 Headbanger
Headbanger's picture

Or..  There's no longer any money as we know it as it was for most early Americans who traded whiskey and gold and silver for currency.

Thu, 05/15/2014 - 12:40 | 4763019 TheMeatTrapper
TheMeatTrapper's picture

Yep, the energy cost is the key.

I recently went kayaking down in the Gulf and while I was there I was shocked at the prices for seafood. At a local joint that is know for quality food and not cutting corners, a full sized shrimp po boy and a cup of good gumbo was $24. This wasn't a fancy restaraunt - this was a walk in and order a sandwhich shop. 

The cost of fuel and running a boat has driven the cost of seafood through the roof. It used to be that local men would go out on the weekend and catch shrimp and sell them on the side of the road to make some extra cash. 

Now, given the cost of fuel, the shrimp are too expensive for the locals to buy, so there is nobody to sell to. I went into one roadside stand and instead of shrimp they were mostly selling collard greens and garden produce in ziploc bags. It was pretty obvoius that they were raising a garden and selling what they grow in their roadside stand. 

It was sad to see people living a mile from the Gulf and not able to afford to eat seafood. 

Thu, 05/15/2014 - 14:23 | 4763439 CoastalCowboy
CoastalCowboy's picture

Good point TMT,

My friend has a friend trying to sell his crabbing territory due to the high cost of fuel. He's not getting any takers either.

I'm on the East coast in an area brimming with shrimp, and shrimp are selling for a king's ransom here too. I'm getting ready to invest in some sinking catfish food pellets to go along with my cast net if you know what I mean.

Thu, 05/15/2014 - 18:14 | 4764272 TheMeatTrapper
TheMeatTrapper's picture

"I'm getting ready to invest in some sinking catfish food pellets to go along with my cast net if you know what I mean."

That's a great idea. Thanks for the tip. I'll have to try that!

BTW, those catfish pellets make excellent coon bait for trapping coons. Easy to work with, no mess, etc.Coons love it. 

Thu, 05/15/2014 - 13:31 | 4763216 American Dreams
American Dreams's picture

You call it a purposeful execution of a global reserve currency.  If it were to be called stagflation it would imply that the economy is going through an unusual but easily classifiable situation and this is anything but.   

Know your enemy

AD

Thu, 05/15/2014 - 12:10 | 4762869 pods
pods's picture

Thanks Tyler for using quotes around "meat."

Lord knows what it actually is if it isn't still attached to the bone.

pods

Thu, 05/15/2014 - 12:20 | 4762921 lordylord
lordylord's picture

I believe scientists have successfully grown meat in the lab.  At least we won't have to eat soylent green when the utopia arrives.

Thu, 05/15/2014 - 12:41 | 4763027 LawsofPhysics
LawsofPhysics's picture

They did and it only cost the taxpayer a couple million to do it.

"Winning".

Thu, 05/15/2014 - 12:21 | 4762926 Cathartes Aura
Cathartes Aura's picture

and the "foul" that comes with bones attached,

is 15% added water & "flavourings". . .

*nom nom* amrka

Thu, 05/15/2014 - 12:10 | 4762870 greatbeard
greatbeard's picture

You think that's bad?  My fruit trees are so loaded the limbs ar breaking in our rain storm.  I should have thinned them out.  Live and learn.  On the bright side, those peaches and nectarines are sure sweet.  Something really satisfying about pulling up next to one of the trees while mowing with the tractor and pulling off a nice, sweet, refreshing piece of fruit.

Thu, 05/15/2014 - 12:12 | 4762882 astoriajoe
astoriajoe's picture

Consider peach wine with your surplus.

http://www.youtube.com/watch?v=2_I1sTZviWw

Thu, 05/15/2014 - 12:17 | 4762903 lordylord
lordylord's picture

Growing your own food?  You are likley labeled a terrorist.  I better throw in racist too just to be safe.  Peaches are a white man's fruit.

Thu, 05/15/2014 - 12:41 | 4763028 McMolotov
McMolotov's picture

USDA will be coming after him with their new machine guns.

Thu, 05/15/2014 - 13:04 | 4763118 BeerMe
BeerMe's picture

I can see the day coming when even your home garden
Is gonna be against the law.

Bob Dylan - Union Sundown

Thu, 05/15/2014 - 12:34 | 4762997 pods
pods's picture

"Something really satisfying about pulling up next to one of the trees while mowing with the tractor and pulling off a nice, sweet, refreshing piece of fruit."

That reminds me, I have to check on the beer tree.

:)

pods

Thu, 05/15/2014 - 12:10 | 4762871 Emergency Ward
Emergency Ward's picture

"You Can't Beat Our Meat Prices"

Thu, 05/15/2014 - 12:22 | 4762924 Kirk2NCC1701
Kirk2NCC1701's picture

"You can't beat our meat.  And you shouldn't beat yours."

Thu, 05/15/2014 - 12:21 | 4762929 B2u
B2u's picture

"You Can't Beat Our Meat Prices"

 

but you can beat your own...

Thu, 05/15/2014 - 12:11 | 4762875 q99x2
q99x2's picture

We are animals. Don't eat meat.

Thu, 05/15/2014 - 12:23 | 4762942 Ace Ventura
Ace Ventura's picture

LOL. Dude tell that to tigers, lions, bears, fish, sharks, owls, snakes, orcas, dolphins, wolves.....even Aunt Bessie's cat Ginger! Last I checked, they too were animals.

Thu, 05/15/2014 - 12:26 | 4762954 Save_America1st
Save_America1st's picture

I'm a member of P.E.T.A.

 

People

Eating

Tasty

Animals

Thu, 05/15/2014 - 12:43 | 4763030 TheMeatTrapper
TheMeatTrapper's picture

"Don't eat meat."

 

I agree - leave's more for me. 

Thu, 05/15/2014 - 12:12 | 4762876 OneEyedJack
OneEyedJack's picture

What sounds good tonight hun??? Soylent Green, red or blue??

Thu, 05/15/2014 - 12:13 | 4762883 JustObserving
JustObserving's picture

But doesn't expensive meat taste better?  So, hedonically speaking, meat is the same price as before, if not cheaper.

Of course, Alpo is meat too and can be substituted for steak if you have the taste buds of a dog - Taco Bell has been doing that for years.

Bon Appetit

Thu, 05/15/2014 - 12:13 | 4762885 thethirdcoast
thethirdcoast's picture

Meat producers can save on costs by introducing stealth halal, just like in the UK!

Thu, 05/15/2014 - 12:14 | 4762890 kurt
kurt's picture

Manipulation

Don't pay high prices. Its your last and only vote. Meat rots, refrigeration costs money, feed costs money, shelf life is limited. The finance driven speculators have hypnotised the producers with number mumbojumbo. The only thing that counts is P X Q, that is price times quantity. Richy Rich is trying to jack the "P" side of the equation. Part of the campaign is conditioning you to expect the price to go up and accept the lies. Don't. Let the shit rot on the shelves. Don't pay high prices.

Thu, 05/15/2014 - 12:17 | 4762895 Kirk2NCC1701
Kirk2NCC1701's picture

Is that why you gotta "pack some heat", while you "stack that meat" -- the way the USDA is doing it?

Solicitation Number:USDAOIGWEA-5-7-14.  Notice Type:Sources Sought.  Added: May 07, 2014 2:03 pm. 
Synopsis:

The U.S. Department of Agriculture, Office of Inspector General, located in Washington, DC, pursuant to the authority of FAR Part 13, has a requirement for the commerical acquisition of submachine guns, .40 Cal. S&W, ambidextrous safety, semi-automatic or 2 shot burts trigger group, Tritium night sights for front and rear, rails for attachment of flashlight (front under fore grip) and scope (top rear), stock-collapsilbe or folding, magazine - 30 rd. capacity, sling, light weight, and oversized trigger guard for gloved operation.  NO SOLICITATION DOCUMENT EXISTS.  All responsible and/or interested sources may submit their company name, point of contact, and telephone.  If received timely, shall be considered by the agency for contact to determine weapon suitability.

Thu, 05/15/2014 - 12:29 | 4762968 Ace Ventura
Ace Ventura's picture

Truly surreal at this point how many types of alphabet agencies are tooling-up for a serious party. What sort of SMG fires .40 S&W? Where can I get one of those so I can lose it in a major canoeing incident?

Thu, 05/15/2014 - 12:16 | 4762898 t99williams
t99williams's picture

There's no meat in this!

You get plenty of meat at home, Clark.

Thu, 05/15/2014 - 12:16 | 4762901 Sticky Wicket
Sticky Wicket's picture

Inflation is creeping in, so of course the TV talking heads are jumping up and down telling us it's all because the economy is improving.

 

"You have to pay so much more at the market because the U.S. is growing at a rapid .1%! Be happy!"

Thu, 05/15/2014 - 12:18 | 4762907 krispkritter
krispkritter's picture

Today: Meat Rises to Highest Levels In Years!   Tomorrow: Meat Takes a Pounding!  It is almost pornographic isn't it?

Thu, 05/15/2014 - 12:18 | 4762909 dobermangang
dobermangang's picture

I'll glady pay you Tuesday for a hamburger today.

Thu, 05/15/2014 - 12:18 | 4762914 Tinky
Tinky's picture

So those who like their steak black 'n blue now leave the supermarkets with bruised wallets, as well?

Thu, 05/15/2014 - 12:22 | 4762934 rsnoble
rsnoble's picture

Sorry ass looking $15.00 tbones at Walmart.  

At that rate count on lots of restraunts closing and more job losses.

Fast food has already caught up with lower end sitdowns.  And they want $15hr? LMAO. Good luck with that!

I went to an old drive-in that's been in business for around 50 years.  Got a tenderloin that ended up being one of those pork fritters you buy 6 to a pack, frozen onion rings and a large drink.  All for $9.75.  It must've been the nostalgia I was paying for and the crisp white sack. 

Thu, 05/15/2014 - 12:34 | 4763000 Abitdodgie
Abitdodgie's picture

ALL the meat at wall mart has been iradiated so what are you doing buying it.

Thu, 05/15/2014 - 18:16 | 4764280 Grouchy Marx
Grouchy Marx's picture

Eating in the dark. 

Thu, 05/15/2014 - 12:22 | 4762935 venturen
venturen's picture

Good thing they don't count food or energy as inflation!

Thu, 05/15/2014 - 12:24 | 4762944 youngman
youngman's picture

They still do not know what is the cure for the Pigglets dying....and the cattle herd is very low...and you do not just turn a knob and that grows overnight..it takes years to rebuild a herd...

Thu, 05/15/2014 - 12:25 | 4762953 buzzsaw99
buzzsaw99's picture

damned free-money speculators [/only semi-sarc]

Thu, 05/15/2014 - 12:26 | 4762957 Solomon the KING
Solomon the KING's picture

when will gold make new all time highs?

Thu, 05/15/2014 - 12:31 | 4762982 1stepcloser
1stepcloser's picture

When you can't exchange FRN for PMs.. All time high infinity 

Fri, 05/16/2014 - 16:00 | 4767550 MeelionDollerBogus
MeelionDollerBogus's picture

why would it matter?
the end-game for gold is not high fiat prices. It's NO fiat prices. The day will come when you can price goods in ounces of silver & grams of gold but dollars won't even exist.
Take discount prices now as a low-cost entry to get real money: metal.

Fri, 05/16/2014 - 16:35 | 4767663 MeelionDollerBogus
MeelionDollerBogus's picture

why would it matter?
the end-game for gold is not high fiat prices. It's NO fiat prices. The day will come when you can price goods in ounces of silver & grams of gold but dollars won't even exist.
Take discount prices now as a low-cost entry to get real money: metal.

Thu, 05/15/2014 - 12:28 | 4762964 Freewheelin Franklin
Freewheelin Franklin's picture

Let them eat cash

Thu, 05/15/2014 - 12:28 | 4762965 Yen Cross
Yen Cross's picture

   I wonder how long it will be before we start seeing some more exotic forms of meat on market shelves?

  Roadkill Opossum- Alley Cat- Feral Dog- N.Y.C. Jumbo Rat ect...

Thu, 05/15/2014 - 12:34 | 4762998 BeetleBailey
BeetleBailey's picture

POSSUM FRITTERS!

SNAKE MEAT

BUFFALO

DEER

ELK

GOAT

OX

Plenty of game out there...

...then, there are the EBT feeders.....goooood for fertilizer....

Thu, 05/15/2014 - 18:15 | 4763043 TheMeatTrapper
TheMeatTrapper's picture

Don't forget beaver, nutria, coon, turtles and squirrels. Lotsa good things you can catch!

Learn To Trap

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