On the heels of reports from Costco and Kroger that they will have extremely limited supplies of beef, wholesale beef prices hit a new high on Monday.
The choice boxed beef price on Friday was $377.45 per hundredweight, the highest it’s ever been.
But, on Monday, beef prices climbed again to over $400 per hundredweight.
In 2019, a hunderweight traded between $200 and $250.
As I have been saying, given supply disruptions and the Great Money Pump, prices of goods Americans want to buy are going to soar.
Accelerated price inflation is in the future. Conservatively, I expect price inflation to eventually hit 5% to 7% but I would not be surprised if it hits double-digit rates.
-RW
Well, that's a really GOOD thing! People shouldn't eat meat. They should subsist on found vegetable matter, like moss, mildew, mysterious fungus growths.
ReplyDeleteTree bark is especially recommended.
Yes, those are clearly the only two possibilities.
DeleteI'm seeing a 30% price increase where I buy meats and also at the three restaurants I frequent.
ReplyDelete