Advisory: Be careful of what you read on social media. The algorithms used by these platforms have no regard for Biblical truth. They target your emotions to keep you engaged on their site so their advertisers can drop more ads. These platforms exist to enrich their stockholders. Consider God’s promise to Believers in James 1:5, “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you.”
Featured Story
After decades of low inflation and relatively cheap food prices, those days appear over as food inflation soars worldwide. The latest observation that food prices are out of control is in Australia.
Australian cattle futures are at record-highs as farm operators hold back livestock from slaughterhouses to rebuild herds after years of drought forced many cattle operators to cull herds. Supply disruptions have resulted in the benchmark Eastern Young Cattle Index soaring to A$10.082 ($7.26) a kilogram. From the 2020 low, prices have more than doubled in a year.
A$10.082 ($7.26) per kilogram is the highest price paid back to 1997 when the contracts began trading. Bloomberg notes the high prices “has raised the risks that the nation’s steaks will slip off global menus — while worldwide demand for beef is robust in many markets.”
The surge in prices could mean the nation’s beef producers, number two in the world behind Brazil, might lose that spot as exports slump. This means Australian global importers will go elsewhere for cheaper meat. In the first six months, beef exports slumped 24% versus the same period last year.
Soaring beef prices means exports drop as global importers look elsewhere for affordable meat. Reminder, exports are inverted on the chart below.
The fact that food prices continue to rise undercuts the transitory inflation narrative that the Federal Reserve and mainstream media have been brainwashing everyone with for nearly a year.
In the States, major meat producer Tyson Foods Inc. warned in their latest conference call to investors that higher costs are hitting the firm faster than the company can lift prices, and retail prices are set to rise on Sept. 5.
The inflation shock is underway as food inflation is at record highs, and supermarket prices are expected to rise 10-14% later this fall.
Food inflation has become such a problem for the working poor and unemployed that the Biden administration has raised food stamp allocations.
Get used to elevated food prices. It appears they will be sticking around through at least 2022.
Ask The Blind Man ,He Saw it All
Source: HNewsWire ZeroHedge HNewsWire HNewsWire HNewsWire HNewsWire HNewsWire
StevieRay Hansen
Editor, HNewsWire.com
MY MISSION IS NOT TO CONVINCE YOU, ONLY TO INFORM…
Tagged In
Newsletter
Must Read
Other Sources
Latest News
Christian Worship to Be Replaced with Multi-Faith Assemblies in British Schools
A Labour-run London council has become the first nationwide to allow its schools to opt out of providing Christian assemblies. State-funded non-faith schools are required…
Read MoreTexas continues battle against impact of homosexual marriage
[](http://138.68.227.9/cimbumiwwae_yer-2/) [](http://138.68.227.9/khjuhgkjyugh/) AUSTIN, Texas (March 1, 2017) — The Texas Supreme Court heard arguments Wednesday in a Houston case that top Republicans hope will provide…
Read MoreTrump is winning and leftists are confused…
President Trump’s approval ratings are nothing special. Actually, they’re extraordinarily low by historical standards — he’s clocking in at 44 percent, according to the latest…
Read MoreCNN Now Has A Totally-Necessary-And-Not-Petty-At-All Trump Feature On Its Website
CNN’s latest contribution to the Internet is a clock, keeping track of exactly how long it’s been since President Trump attacked someone on Twitter. The, like, totes…
Read MoreLack of faith….
Matthew 13:56-58 (NIV) 56Aren’t all his sisters with us? Where then did this man get all these things?” 57And they took offense at him. But…
Read More
We make every effort to acknowledge sources used in our news articles. In a few cases, the sources were lost due to a technological glitch. If you believe we have not given sufficient credit for your source material, please contact us, and we will be more than happy to link to your article.
