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 NY steak shortage

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  • Total Posts: 3175
  • Joined: 8/15/2005
  • Location: Ipswich Ma
NY steak shortage Wed, 08/8/07 9:50 AM (permalink)
According to todays NY sun there appears to be a shortage in prime beef. The article states that only 2.5% of beef produced in the US is considered prime.

The blame is being placed on corn shortages due to alternative fuel.
It's a never ending circle. Dairy products, milk and cheese and so forth have all seen a spike in prices. You think there might be some price gouging going on? I'll have to hedge my position and buy corn futures. Chow Jim

    • Total Posts: 78
    • Joined: 12/14/2006
    • Location: Las Vegas, NV
    RE: NY steak shortage Thu, 08/9/07 2:51 AM (permalink)
    What's corn trading at, 340 or so? It was recently almost 400. Live cattle futures are near $1.00. Still quite reasonable.

    Let me be blunt; most people don't care about Prime. My guess is the majority of Americans could not distinguish between Choice and Select. This is not meant to be trite; how many millions of Americans dined at the following places today?

    Burger King
    Taco Bell
    Pizza Hut
    Red Lobster
    Olive Garden

    That's just the short list.

    I think anyone would concede it is a big number every day. Easily more than the number of Americans that bought Prime Beef today.
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