Avg Price of Hamburger Over $4.00

[Mike]

(CNSNews.com) – Although the overall Consumer Price Index dropped by 0.2 percent in August, the price index for food rose 0.2 percent, with the average price for a pound of ground beef rising to $4.013 per pound--the first time it has ever topped $4 per pound.

In July, according to the Bureau of Labor Statistics, the average price for a pound of ground beef had been $3.884 per pound—which was the record price up to that point. From July to August, the average price jumped 12.9 cents, an increase of 3.3 percent in one month.

 

[Bward]

So its up to the price of a bag of chips then?

 

[mrj]

Great omparison, bward!

If I wasn't getting prepared for knee replacement in a couple of days, it would be fun to compare the nutrients between that pound of beef and the package of chips.

I shouldn't even be 'playing' here, but needed to see if I could get it hooked up again after some phone company tweaks to the system in our house.

mrj

 

[Hay Feeder]

People are buying Hamburger but seeing more 72% one store is selling a pork beef mix they are grinding in there store. Price these bags of chicken nuggets per pound it will knock your socks off Hamburger is still the better deal if they buy the 80% or more lean

 

[Denny]

So its up to the price of a bag of chips then?

$4.69 for 9.5 oz. of chips

 

[Mike]

A "Serving Size" of chips is usually recommended at around one ounce.

So according to that, that $4.69 per 9.5 ounces should feed around 10 people.

Try feeding 10 people with 1 ounce, or even 1 pound of hamburger.

We've priced ourselves out of the market. For the first time in history, chicken has passed beef in consumption per person.

I don't know the answer. But what do we do if nearly everyone stops buying beef and demand plummets even more?

Maybe a higher percentage of the profit margin? How?

Lot's of cattlemen around here building chicken houses at a $Million$ each.

Just food for thought. Because there could be a huge trainwreck coming.

 

[Brad S]

Mike your concerns are well founded, and the beef demand curve has proven to be elastic. Thus, higher prices to the consumer result in reduced consumption. Fortunately the export market has really helped establish the current demand picture, and there are still plenty opportunities to expand the export market. BUT, it's not at all hard to imagine Barry "rescuing" the people from "windfall profits." Nixon just set price controls, Carter supported a "windfall profit tax."

At the very least, current prices are pushing consumers into some cheaper alternative competitors. It's never good to have your customers pushed into competitors hands. Finally, when these current prices drop, the production chain will attempt to absorbe reduced prices at the farm gate and maintain high prices at the cooler. Thus, future lower prices may not immediately slide up the demand curve and result in higher sales.

We should be investing some of these high beef prices in greater promotion in response to reduced consumption. If each check off dollar is netting a $17 return, I'd like to see what $5 would buy.

 

[Big Muddy rancher]

A "Serving Size" of chips is usually recommended at around one ounce.

So according to that, that $4.69 per 9.5 ounces should feed around 10 people.

Try feeding 10 people with 1 ounce, or even 1 pound of hamburger.

We've priced ourselves out of the market. For the first time in history, chicken has passed beef in consumption per person.

I don't know the answer. But what do we do if nearly everyone stops buying beef and demand plummets even more?

Maybe a higher percentage of the profit margin? How?

Lot's of cattlemen around here building chicken houses at a $Million$ each.

Just food for thought. Because there could be a huge trainwreck coming.

A pound of hamburger with some helper, beans or rice will go alot farther to feed 10 people than a bag of chips.

They might say a ounce is a serving but try to eat just a serving.

 

[Mike]

A "Serving Size" of chips is usually recommended at around one ounce.

So according to that, that $4.69 per 9.5 ounces should feed around 10 people.

Try feeding 10 people with 1 ounce, or even 1 pound of hamburger.

We've priced ourselves out of the market. For the first time in history, chicken has passed beef in consumption per person.

I don't know the answer. But what do we do if nearly everyone stops buying beef and demand plummets even more?

Maybe a higher percentage of the profit margin? How?

Lot's of cattlemen around here building chicken houses at a $Million$ each.

Just food for thought. Because there could be a huge trainwreck coming.

A pound of hamburger with some helper, beans or rice will go alot farther to feed 10 people than a bag of chips.

They might say a ounce is a serving but try to eat just a serving.

I eat a small bag of chips with a coke almost everyday. Heck, that probably ain't a 1/2 ounce and it satisfies me until supper.

 

[Faster horses]

I check some of the box mixes at the store. Where they used to say to use a pound of ground beef, now they recommend using a half a pound of ground beef to make the recipe....or ground turkey...

Of course that is to help the housewife stretch her grocery dollar and yet
still keep buying their boxed hamburger helper or whatever...