Update: Food Prices Continue to Soar & It’s Getting Worse

After Doubling the Price of Beef, Chicken, and Pork, Food Prices Soar to a Record High. Stock of Tyson Foods, the world’s second largest processor and marketer of poultry, beef, and pork behind Brazil’s JBS S.A., is rising 9 percent , setting an all time high and is one of the S&P’s top firms this morning… … after the firm reported blowout earnings (due to passing on increasing food prices) and revealed that it is boosting prices even more as it grapples with a tight labor market and fewer animal herds. According to the research, beef prices soared by 32 percent in the quarter, with chicken up ~20 percent and pork 13 percent . This helped Tyson’s operating margin expand to 11.3 percent , up from 6.7 percent , a year earlier. The rising meat costs has, however, got the…

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Millions Of Pigs, Chickens, and Cattle Are Being Euthanized While The Media Warns “Shortages” Are Coming

More than 26 million Americans have lost their jobs during these coronavirus lockdowns so far, and this has created unprecedented demand at food banks all over the nation.  In many cities, vehicles start lining up at the food banks at the crack of dawn, and in some instances, the lines have literally stretched for miles.  But at the same time, farmers all over America have been dumping millions of gallons of milk, disposing of millions of pounds of fresh vegetables, and putting farm animals to death at a rate that we have never seen before.  In fact, Reuters is reporting that “millions of pigs, chickens, and cattle will be euthanized” because they can’t be sold.  Unlike other parts of the globe, we actually have plenty of food right now, but we can’t get much of that food to the people because so many food processing facilities…

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