Your bacon budget may go bust this summer if analysts' predictions come true. One indicator is pork belly prices, which have surged to $130 per 100 pounds and could top $150, which it reached last August. A factor contributing to bacon inflation is rising corn prices, which have caused hog farmers to pare their herds, making bacon cost $4.77 a pound in May.
CNBC cites an analyst, quoted by Reuters, who says bacon could rise to $6 a pound in the next few months.
If bacon prices continue to rise, will you cut back on bacon purchases or sacrifice other areas of your life to keep the BLTs flowing?
The Crisis We Should Be Panicking About: Bacon Prices [CNBC]
3 comments:
Corn prices are up because the government wants to lessen our dependence on foreign oil by diverting the corn to make ethanol (you know, that stuff that ruins engines and engine parts) rather than drilling from the world's largest oil reserves - right here in the USofA - and refining domestically. Thank Barack.
You need to increase the size of your "Thank You" list considerably.
9:19
Okay,
Thank you Pelosi, Thank you Reid, Thank you Shummer, Thanbk you Lisa Jackson.
How's that?
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