Chicken, Beef Hit Record High Costs

Started by Shiranu, May 31, 2022, 01:24:05 AM

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Shiranu

Alternatively - Tyson and other chicken-and-beef-producing set to record record high profits while simultaneously saying they are having to rise prices because the cost of producing the food is getting too high, yet actual farmers instead of CEOs tell us that their profits are decreasing... more money is being made, but doesn't seem to be going into the company or it's employees.

Oh, also this story has a political intrigue B-plot as the increasingly monopoly-led food industry has also been accused of intentionally coming together to fix prices.

https://www.yahoo.com/now/tyson-says-high-meat-prices-120851734.html

QuoteThe biggest U.S. meat company by sales raised its full-year revenue outlook to a range of $52 billion to $54 billion, from $49 billion to $51 billion previously.

"Although we continue to see inflationary pressures across the supply chain, we are working to drive costs down by continuing to increase our efficiency, productivity and bringing more capacity on line," Chief Executive Officer Donnie King said in a statement Monday.

Shares climbed 1.2% as of 9:35 a.m. in New York trading despite a broader selloff in equities.

Tyson, based in Springdale, Arkansas, has also been under pressure by politicians in Washington for elevated meat prices. Consumers are paying higher food prices even as livestock and poultry producers complain that an overly concentrated meatpacking sector results in smaller shares of profits for farmers.

Executives from the four biggest U.S. beef companies denied a conspiracy to fix prices during a hearing last month.
"We recently received a subpoena dated April 21, 2022 from the New York Attorney General's Bureau of Consumer Frauds & Protection seeking information regarding our sales, prices and production costs of beef, pork and chicken products," the company reported in a U.S. Securities and Exchange Commission filing. "We are currently evaluating the scope of the subpoena."

For Tyson, it's been nearly a year since King took over as CEO. The company said it's on track to realize $1 billion in productivity savings by the end of the year.

Anyone want to take a bet which of the 4 CEOs (which yeah, great, let's put something kinda-sorta important like food for our entire nation in the hands of 4 people, what could go wrong?) will be the first to say, "Let them eat cake!" and find their head on the block?

My money's on Tyson, even by corporation standards they have historically been inhumane and disgusting.
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Mr.Obvious

The entire political spectrum aside.
Partly out of habit, but i also think partly due to these continued economi  crises, we've been eating less qnd less meat in this household. More dishes with little meat like oven-mase leek and or vegetarion poke bowls orvegetarian spaghettisauce or soups and the likes.
Used to be a time i didn't think about what meat i put in my cart. Them days are long gone.
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Shiranu

Quote from: Mr.Obvious on May 31, 2022, 01:51:50 AMThe entire political spectrum aside.
Partly out of habit, but i also think partly due to these continued economi  crises, we've been eating less qnd less meat in this household. More dishes with little meat like oven-mase leek and or vegetarion poke bowls orvegetarian spaghettisauce or soups and the likes.
Used to be a time i didn't think about what meat i put in my cart. Them days are long gone.
Yeah, honestly we had cut back a bit before the prices went up and now have really cut it out; the quality of meat here anyways has seen a significant decline (as best as you can put something subjective, I would say the quality of meat is at least 33% worse than it was 5 years ago) so we don't feel like we are missing much.

Work at a BBQ place right now, and even with some really high quality pit-masters... just still cant really get into it. Turkey and some sausages are about the only worth eating.
Every day is a good day to *remove from server* an autocrat.