Rising meat prices hit business owners, customers in the pocket

Buy beef, pork or chicken? Be prepared to spend a little more than in the past. Prices for all three have increased during the pandemic, particularly in recent weeks. “I haven’t really paid much attention to meat prices, but if you watch the news you know there is a spike in prices across the board for a lot of commodities,” 12-year-old said. . Avril & Bleh client Jim Whalen. Beef prices alone have jumped 12.2% over the past year, according to a new report on consumer inflation data from the Ministry of Labor. Pork prices jumped 9.8% last year and chicken prices jumped 7.2%. say that right now it’s the worst inflation they’ve seen with supplier prices rising steadily every week. “Usually, you know, it’ll fluctuate a few pennies every week, whether it goes up, it goes down a few pennies, but in the last two or three months it’s only been going up, and it’s not going down. was not by sense, it’s by dollars, “Busch said. The Biden administration believes that a handful of large meat packers like Tyson Foods and JBS USA, which control most of the supply of the countries, make the market less competitive. In July, the president signed a new executive order to promote competition in the economy as a whole. Market owners say they welcome any form of help to keep them out of the market. chopping block. “I don’t know how long we’re going to be able to hold out if prices keep going up, because I know people won’t want to spend more than $ 25 on steak – there’s just no way.” , Busch said. The administration is setting aside 500 million dollars to help supply new meat processors to compete with the big four. The Justice Department is also investigating alleged price fixing in the chicken market.

Buy beef, pork or chicken? Be prepared to spend a little more than in the past.

Prices for all three have increased during the pandemic, particularly in recent weeks.

“I haven’t really paid much attention to meat prices, but if you watch the news you know there is a spike in prices across the board for a lot of commodities,” 12-year-old said. . Jim Whalen, Avril & Bleh client.

Beef prices alone have jumped 12.2% over the past year, according to a new report on consumer inflation data from the Ministry of Labor. Pork prices jumped 9.8% last year and chicken prices jumped 7.2%

“In fact, the last two or three months have been horrible,” said Christina Busch, owner of Main Street Market.

Busch’s family have been in the meat business for decades, and they say it’s the worst inflation they’ve seen right now with supplier prices steadily rising every week.

“Usually, you know, it’s going to fluctuate a few pennies every week, go up, go down a few pennies, but in the last two or three months it’s only been going up, and it hasn’t. been by sense, it’s been by dollars, ”Busch said.

The Biden administration believes that a handful of large meat packers like Tyson Foods and JBS USA, which control most of the country’s supply, are making the market less competitive.

In July, the president signed a new decree to promote competition in the economy as a whole.

Market owners say they welcome any kind of help to keep them off the chopping block.

“I don’t know how long we’re going to be able to hold out if prices keep going up, because I know people won’t want to spend more than $ 25 on steak – there’s just no way,” Busch noted.

The administration is setting aside $ 500 million to help supply new meat processors to compete with the Big Four.

The Justice Department is also investigating alleged price fixing in the chicken market.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *