4 ms·
Beef prices have gone up a LOT in recent years, but ethanol-related corn price increases is only a part of the reason. Slightly increased domestic demand due t
by qq66 12y ago
Beef prices have gone up a LOT in recent years, but ethanol-related corn price increases is only a part of the reason.
Slightly increased domestic demand due to economic recovery, as well as very large increases in foreign demand due to economic development, combined with the fact that supply was trimmed back during the recession, are also big parts of the equation.
- zaroth 12y agoI had read a couple years ago that drought was making feed prohibitively expensive, leading to a culling of stock which lowered prices temporarily, and now we are in for an extended run of higher priced beef. E.g http://www.bloomberg.com/news/articles/2012-08-21/peter-luger-steak-prices-may-soar-as-drought-culls-herds http://www.bloomberg.com/news/articles/2012-08-21/peter-luge...
- ArkyBeagle 12y agoThe supply was semi-decimated because of drought. The price rises are better correlated with drought than recovery.
- coob 12y agoHere's a chart of beef prices over the last 10 years: http://www.indexmundi.com/commodities/?commodity=beef&months=120 http://www.indexmundi.com/commodities/?commodity=beef&months...