Jimeats
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Total Posts:
3175
- Joined: 8/15/2005
- Location: Ipswich Ma
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NY steak shortage
Wed, 08/8/07 9:50 AM
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According to todays NY sun www.nysun.com 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
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Bluntfacts
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Total Posts:
78
- Joined: 12/14/2006
- Location: Las Vegas, NV
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RE: NY steak shortage
Thu, 08/9/07 2:51 AM
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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?
McDonalds
Burger King
Wendys
KFC
Taco Bell
Pizza Hut
Red Lobster
Olive Garden
Chipolte
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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