• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

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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Fri, 05/16/2014 - 15:56 | 4767533 MeelionDollerBogus
MeelionDollerBogus's picture

Meat Trapper just put up a good video for baiting & hunting snapper turtles.
Seems they like the oily beaver pelt for bait.
I wonder, if you put up an oily fat scootersaurus caught at a walmart, as bait for a snapper, would that work or would the pelt kill off the local wildlife?

Thu, 05/15/2014 - 13:58 | 4763311 Cthonic
Cthonic's picture

Ostrich, camel, bison and genetically modified gila monster

Thu, 05/15/2014 - 14:37 | 4763488 813kml
813kml's picture

Yum, a big plate of rat steak and roach fries.  Kerry can supply the ketchup.

Thu, 05/15/2014 - 18:12 | 4764268 Grouchy Marx
Grouchy Marx's picture

Probably already there, just not labeled as such. Hey, 50% of fish is mislabeled, and in England, they were getting horse and donkey sold as beef.

Of course, for English cuisine, that might be a step up...

Fri, 05/16/2014 - 15:55 | 4767529 MeelionDollerBogus
MeelionDollerBogus's picture

Throw in some Soylent Senator or Creole Congresscritter & perhaps you can start a whole new fastfood chain.

Thu, 05/15/2014 - 12:30 | 4762973 1stepcloser
1stepcloser's picture

Can't they naked short beef futures to help us out.  Like they help us in PM markets...  Sell a years head of cattle in a single trade... 

Thu, 05/15/2014 - 13:03 | 4763113 RichardENixon
RichardENixon's picture

No they can't. But they can help you access your HELOC for trips to the grocery store. Just make sure you do this before the stores refuse to accept any amount of FRNs for food. That's coming.

Thu, 05/15/2014 - 12:35 | 4763003 ATG
ATG's picture

Shadow Stats has 1980 metric CPI pushing 10%:

http://www.shadowstats.com/alternate_data

BLM Bundy Ranch cattle killings did not help beef prices settle.

DC became such a lying cesspool that Operation American Spring is on the way to emphasize the call for Impeachment:

http://bit.ly/QN2u3Z

Thu, 05/15/2014 - 12:35 | 4763006 Schmuck Raker
Schmuck Raker's picture

He said "hedonic meat adjustment". Heh heh-heh heh

Fri, 05/16/2014 - 15:53 | 4767521 MeelionDollerBogus
MeelionDollerBogus's picture

Hedonically Adjusted Meat - the new H.A.M.

Thu, 05/15/2014 - 12:45 | 4763038 RichardENixon
RichardENixon's picture

I'm so glad I was livin' in the USA

We had hamburgers grillin' on open grills night and day

Chuck Berry classic 2014 version


Thu, 05/15/2014 - 12:49 | 4763045 socalbeach
socalbeach's picture

No need for hedonic adjustments for beef and pork.  Just reduce their weighting in the CPI and replace with chicken.  Then, if chicken starts increasing in price, replace with:

horse meat -> donkey meat -> dog food -> ...  -> rat and other rodent meat -> donkey dick

Thu, 05/15/2014 - 12:54 | 4763078 I Write Code
I Write Code's picture

-> mystery meat -> solyent green

Thu, 05/15/2014 - 18:08 | 4764250 Grouchy Marx
Grouchy Marx's picture

-> tofu

Fri, 05/16/2014 - 15:54 | 4767525 MeelionDollerBogus
MeelionDollerBogus's picture

Pretty sure horse meat would cost more than chicken.

Thu, 05/15/2014 - 12:47 | 4763053 Tsar Pointless
Tsar Pointless's picture

The people of Pittsburgh are "fed" up with this, and something MUST be done.

http://pittsburgh.cbslocal.com/2014/05/14/pens-fans-calling-for-change-a...

Oh, wait. That's about the Penguins losing to the New York Rangers in the NHL playoffs. I'm sure I can find something about people pissed about meat inflation.

Nope. Nothing.

Priorities.

Thu, 05/15/2014 - 12:48 | 4763054 I Write Code
I Write Code's picture

What will you pay for this 11 year old meat?

Thu, 05/15/2014 - 12:54 | 4763077 Quinvarius
Quinvarius's picture

Phrasing....

Thu, 05/15/2014 - 16:36 | 4763495 813kml
813kml's picture

Gary Glitter might be in the market, how much dong are you asking?

Thu, 05/15/2014 - 12:52 | 4763073 Old Man River
Old Man River's picture

Theys goona stick it to ya in eleventy-billion differnt ways, I figure. In the end us little folk won't be able to afford no real steak or bacon, just that fake stuff. And so when we visit good old Clem up there at the "Tack and Go" to get a box of 7 Mags, theys gonna cost too much (heck, if you can even get some) or the dang license fees too high or the limit changes. When theys fooling with the dadgum food supply folks get all mean, and rightly so.

Thu, 05/15/2014 - 12:57 | 4763088 viator
viator's picture

Wagyu beef really up, $260. a pound.

http://www.allenbrothers.com/wagyu.html

 

Thu, 05/15/2014 - 13:00 | 4763105 hoist the bs flag
hoist the bs flag's picture

well...if you use the Ramen noodle index...this means jack squat. Hell, i got BOGO Yakisoba for 99 cents just this morning.  However, the sodium. msg, plastic and God knows what other stage 4 shit that is in there, as well as the flouride water and the heating device known at the office as a nukerowave, that hums with enough background radiation to make another Hulk, doesnt get me...the calories will. I chug all this back with killer Columbian irradiated coffee and fake (flammable) dry creamer and hefty amounts of bleached sugar. its a wonder I don't just shit myself in front of my Chinese slave labor made computer while wittling away for my corporate masters.

Thu, 05/15/2014 - 13:04 | 4763115 FieldingMellish
FieldingMellish's picture

Thanks. That made me feel better.

Thu, 05/15/2014 - 13:10 | 4763135 hoist the bs flag
hoist the bs flag's picture

just wanna keep it real with the sense of "budget" we will all be working with eventually. ;)

Thu, 05/15/2014 - 14:47 | 4763503 813kml
813kml's picture

Yuck, I'll stick to my simple diet of mud pie and mouse milk ice cream.

Thu, 05/15/2014 - 13:05 | 4763119 John Law Lives
John Law Lives's picture

This won't help ease food prices:

 

http://droughtmonitor.unl.edu/Home/StateDroughtMonitor.aspx?CA

California is in rough shape.

http://droughtmonitor.unl.edu/Home/StateDroughtMonitor.aspx?OK

http://droughtmonitor.unl.edu/Home/StateDroughtMonitor.aspx?TX

Parts of Oklahoma and Texas are also in need of much rain.

Thu, 05/15/2014 - 13:52 | 4763289 Cthonic
Cthonic's picture

as well as Kansas, western Colorado

Thu, 05/15/2014 - 13:53 | 4763301 alt.hedge
alt.hedge's picture

    D0 - Abnormally Dry
    D1 - Moderate Drought
    D2 - Severe Drought
    D3 - Extreme Drought
    D4 - Exceptional Drought
    D5 - Ludicrous Drought!

Fri, 05/16/2014 - 15:34 | 4767457 MeelionDollerBogus
MeelionDollerBogus's picture

Thanks to global warming you should expect much less rain for a much longer time.
New-new-dustbowl-deal. Can't have a proper Great Depression without a dustbowl.

Thu, 05/15/2014 - 13:08 | 4763128 BeerMe
BeerMe's picture

You know it is bad when Spam is expensive.

Thu, 05/15/2014 - 13:12 | 4763152 hoist the bs flag
hoist the bs flag's picture

that and corn beef hash, jerky...when tuna fucks off into outer space price wise...its game on. Like I said below...The Ramen Noodle Index is the way to go, if it doesnt kill you first.

Thu, 05/15/2014 - 13:17 | 4763166 young turk
young turk's picture

just keep stackin and pass the ketchup please

Thu, 05/15/2014 - 13:18 | 4763173 Frostfan1
Frostfan1's picture

I went to the deli for lunch today and got the pasta and beef stew.  I noticed when eating how the meat portion was smaller than I expected and I go to this place a coupe of times a week so I would know if something is different.  I think I know why now..........

Thu, 05/15/2014 - 13:25 | 4763200 youngman
youngman's picture

They say that Sperm has lots of protein....should be good for blowjobs...

Thu, 05/15/2014 - 14:41 | 4763504 RevRex
RevRex's picture

What's the litre price on that?

Thu, 05/15/2014 - 13:29 | 4763207 Obama_4_Dictator
Obama_4_Dictator's picture

Just bought some more silver rounds, only 1 dollar above spot!

Thu, 05/15/2014 - 14:39 | 4763496 RevRex
RevRex's picture

$20.19 cents each delivered here....now that's a bargain!, not as good as the 19.53 last week

Thu, 05/15/2014 - 16:18 | 4763917 Obama_4_Dictator
Obama_4_Dictator's picture

Paid 20.53....

Thu, 05/15/2014 - 14:14 | 4763401 22winmag
22winmag's picture

My home brewed beef stew and chili is canned and stacked to the ceiling. If Obama, DHS, or FEMA attempts to "nationalize" it, they're going to get a high velocity lead sandwich instead.

Thu, 05/15/2014 - 14:44 | 4763520 greatbeard
greatbeard's picture

>> home brewed beef stew and chili is canned and stacked to the ceiling.

Care to share the recipe?

 

Thu, 05/15/2014 - 14:37 | 4763487 RevRex
RevRex's picture

It's a good thing the price of flat screen TVs has dropped, otherwise inflation would rob the people of the buying power of the dollar......

Fri, 05/16/2014 - 15:33 | 4767450 MeelionDollerBogus
MeelionDollerBogus's picture

And they're delicious with a dab of mayo.
... oh wait...

Thu, 05/15/2014 - 14:48 | 4763535 Ban KKiller
Ban KKiller's picture

We buy grass fed beef from locals. Buy whole hogs too. Get them butchered, cut and wrapped. Throw into freezer! High quality meat that has an acceptable cost per pound.  There is NO WAY I buy meat from the major chains. 

We do eat less meat these days...more veggies, fruit and nuts/seeds. Growing our own greens is the key...I think. 

Fast food is fast but not food. Only suckers eat there...

 

Please support. NGFB, LLC. (Nail Guns for Banksters)

Fri, 05/16/2014 - 15:33 | 4767453 MeelionDollerBogus
MeelionDollerBogus's picture

Definitely looking into it but I need a way to store dry & cured, no freezer required.
When you think about grid dependancy it's not just savings in dollars that matter, but saving in the real tangible meat that can outlast even a long-term power failure.
Freezers need power so then what? Dried & cured or... batteries & propane?

Thu, 05/15/2014 - 15:14 | 4763638 MassDecep
MassDecep's picture

You cant have any meat if you don't beat your pudding!!

Thu, 05/15/2014 - 15:36 | 4763716 F em all but 6
F em all but 6's picture

If you dont beat your meat you cant have any pussy. How can you have any pussy if you dont beat your meat!

 

Pink Floyd.   The Wall

Thu, 05/15/2014 - 15:34 | 4763693 F em all but 6
F em all but 6's picture

The meat market has always been cheaper....than divorce.

Catch and release bitchez

Thu, 05/15/2014 - 18:46 | 4764395 trader1
trader1's picture

more great news for our environment.

meat consumption will reduce, as people start shift to healthier, protein-rich plant-based foods like beans, lentils, etc.

 

Fri, 05/16/2014 - 15:23 | 4767417 MeelionDollerBogus
MeelionDollerBogus's picture

Not good news at all. It's fine to augment your non-meat part of your diet but to cut out critical meal proteins will leave you malnourished. Humans can't live healthy as vegetarians. Very few have no choice but most others who make the choice are idiots & starving themselves of critical amino acids.
They make up for it with pills but those pills are also made from animals so it's a pointless endeavour.

Of course, malnourished people make more obedient slaves.

Thu, 05/15/2014 - 19:22 | 4764549 winston84
winston84's picture

Our meats are loaded with steroids and antibiotics. Our veggies and grains are now GMO. Our water is laced with fluoride, meds, and mercury. Our air is saturated with aluminum, barium, and  polymers.

Bottom line....

We are all gonna die!  Probably by some type of cancer.

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