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calendar   Thursday - November 06, 2014

Churning Milk Into Gold

(It’s only a coincidence that Chris just did a cows post as well).

I needed to get a few things to eat, so I took a trip to the local grocery store. I filled the top of my cart - the kiddie seat area - with things on sale, milk, bread, and meat for 3 nights. The bill came to $71. Horry Clap!!!

Toast: The New Luxury Food

We don’t eat a whole lot of butter. And while we prefer the taste of the Plugra brand, or the yummy stuff imported from Ireland, we’re more than willing to get by with Land O Lakes or the store brand stuff. Lucky us, we have a big freezer, so around this time each year I go butter shopping. November is Thanksgiving, and everybody cooks and bakes, and that means this is the time of year when butter really goes on sale. I got 6 lb - our annual supply - last year for $1.50/lb, and froze them all. November is also when Philadelphia cream cheese gets the big discounts, especially if you can find the 6 bar bulk box. ( Don’t ever freeze cream cheese, but that bulk box is good for several decadent cheese cakes).  So I noticed we were just about out of butter, so I figured I’d get a pound, or maybe stock up for next year.

Crivens. And crivens on the half shell!

Store brand butter was ON SALE for $2.99/lb. Save $1 !! Land O Lakes is selling for $6. Holy sheep dip. SIX DOLLARS for one single pound of butter!!

Bread has gone through the roof too. One loaf of one of these multi-grain healthy bread things, it was either Arnold brand or Pepperidge Farms, was $3.99. SAY WHAT?? FOUR BUCKS for a loaf of bread!!

I wasn’t brave enough to look at the Philly. To heck with that. I got my quart of milk - $2 ( wasn’t milk $2.49/gal last year?? ) and got the heck out of Dodge.

Bread and butter. $10.

Like every other Fiat, our fiat money is worthless, rusted out and with a bad electrical system.

My head is spinning.

$6 for a pound of butter. OMG. OMG.

[ From JULY ] Butter Surges to 16-Year High as U.S. Exports Cut Reserve “There’s a shortage of butter,” Jon Spainhour, a broker and partner at Chicago-based Rice Dairy LLC, said in a telephone interview July 3. “This spring, instead of building inventories, we just shipped it out of the country. We’ve hauled a lot of product out of the market.”

Even as rising global milk output signals a slowdown in U.S. exports, tight domestic butter supplies are contributing to higher costs that buyers including Panera Bread Co. expect will last through 2014. Retail-food prices are rising at the fastest pace in three years, fueled by meat, dairy, eggs, fresh fruit and vegetables, government data show.

The spot price of butter has surged 71 percent this year, after yesterday reaching the highest close since September 1998, and butter futures on the CME jumped 58 percent, touching a record $2.50 today before dropping. The Bloomberg Commodity Index of 22 raw materials gained 2.7 percent this year, while the MSCI All-Country World Index of equities rose 6 percent. The Bloomberg Treasury Bond Index gained 3.6 percent.
Export Surge

U.S. butter exports got a boost after a two-year slump in prices that reached a 15-month low in August. Shipments in the first five months of 2014 totaled 38,897 metric tons, up 64 percent from a year earlier, and are on pace to exceed the full-year record of 92,300 tons in 1993, U.S. Department of Agriculture data show. Domestic production through May this year dropped 3.6 percent to 842,127 tons, while demand through April, the most-recent data available, is up 9.9 percent.

Domestic stockpiles that in May 2013 were the highest in 20 years have slumped with a surge in shipments to buyers including Saudi Arabia, Morocco, Egypt and Iran, government data show. Inventories as of June are down 42 percent from a year earlier to 186 million pounds (84,426 tons).
Emerging Markets

Rising incomes in emerging markets are driving demand for dairy products and other higher-cost foods, including meat, and the U.S. has become the world’s second-largest exporter of milk products after New Zealand.

Ah, that explains it. Those wonderful farmers, who are supported decade after decade by taxpayer funded subsidies, price supports, and every other dad-gummed program known to man, are saying Thank You by selling their wares overseas, and we can take a big flying fuck. I see.

But the dairyman isn’t alone. Meat, fish, eggs, fruit are way up too. So is sugar. So is flour. So is everything. 


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Posted by Drew458   United States  on 11/06/2014 at 08:36 PM   
Filed Under: • Fine-DiningInflation and High Prices •  
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