|Cash Prices Food Commodities
(Prices for actual physical commodiities, not futures)
|Grains and feeds|
|Barley, top-quality Mnpls; $ per||6.2||3.15||+ 96.8%|
|Bran, wheat middlings, Kn. City; $ per ton||178||43||+314.0%|
|Corn, No. 2 yellow. Cent. Ill.||6.605||3.48||+89.8%|
|Corn gluten feed, Midwest, ton||150.42||51.59||+191.6%|
|Cottonseed meal, ton||268||175||+53.1%|
|Hominy feed, Cent. Ill. Ton||205||77||+166.2%|
|Meat-bonemeal, 50% pro Mnpls ton||440||280||+57.1%|
|Oats, No. 2 milling, Mnpls; $ per||3.42||1.955||+74.9%|
|Sorghum, (Milo) No. 2 Gulf cwt||11.275||6.76||+66.8%|
|Soybean Meal, Cent. Ill., rail, ton 48%||335.6||291.9||+15.0%|
|Soybeans, No. 1 yellow Illinois||13.14||9.37||+40.2%|
|Wheat, Spring 14%-pro Mnpls; $||9||4.4225||+103.5%|
|Wheat, No. 2 soft red, St.Louis, shel||7.72||4.81||+60.5%|
|Wheat, hard, KC||7.575||4.025||+88.2%|
|Wheat, No. 1 soft white, del Portland, Ore||12.1025||6.2825||+92.6%|
|Beef choice 1-3,600-900 lbs.||166.68||154.05||+8.2%|
|Beef select 1-3,600-900 lbs.||160.27||150.17||+6.7%|
|Broilers, dressed ‘A’; per lb.||0.865||0.865||0.0%|
|Broilers, 12-city comp weighted avg||0.8458||0.8527||-0.8%|
|Butter, AA Chicago, lb.||2.05||1.605||+27.7%|
|Cheddar cheese, barrels, Chicago lb.||165.25||140.75||+17.4%|
|Milk, Nonfat dry, Chicago||164||130||+26.2%|
|Cocoa, Ivory Coast, $ per metric ton||3637||3566||+2.0%|
|Coffee, Brazilian, Comp.||2.7637||1.2962||+113.2%|
|Coffee, Colombian, NY lb.||3.0974||2.0139||+53.8%|
|Eggs, large white, Chicago dozen||0.885||0.595||+48.7%|
|Flour, hard winter Kansas City cwt||22.55||13.7||+64.6%|
|Hogs, Iowa-South Minnesota avg. cwt||88.04||82.49||+6.7%|
|Pork loins, 13-19 lbs, Mid-US lb||1.415||1.54||-8.1%|
|Steers, feeder, Oklahoma City, avg cwt||142.13||128.19||+10.9%|
|Sugar, cane, raw, world, lb. fob||26.31||19.54||+34.6%|
|Data Source: Wall Steet Jounal Market Data Center|
**Chart courtesy of The Market Oracle
If you listen to the central banks, the press, or any western government (many times the three are interchangeable), you will hear that inflation is tame and under control. Inflation poses no threat. Now go and buy an IPad. But looking at the chart above, you have to think to yourself, who am I going to believe, the gov’t/banks/msm or my empty wallet and my lying eyes?
The chart above only conveys food inflation, but regular readers of Mitchieville will remember a few charts The Mayor put up not long ago showing the huge increases in other commodities such as cotton, gold, oil, etc. Inflation isn’t politely knocking at your door any more, it has already booted it in.
Never mind the factors contributing to inflation, anyone paying attention already knows the factors. Things aren’t going to get better any time soon, it’s just the opposite. Not all the above increases have filtered through the system yet, but they’re coming and they’re coming fast. We’ve already noticed smaller packaging, and now we’re in for a bout of rapidly increasing prices. There’s nothing anyone can do, it’s already a done deal.
It’s time to protect yourself and your family. The Mayor isn’t talking about buying guns and tons of ammo and moving to northern Manitoba (although that’s not a bad idea), he’s talking about getting a hedge on inflation. And that means stockpiling. Stockpile everything of value. Stockpile wheat, coffee, sugar, oats, flour, everything you can get your hands on. That bag of flour you saw yesterday for $9.99? Buy 10 bags of the stuff. Or 20. Put it away and shut your gob. Done.
If you had enough of the essentials to last you 2 or 3 years, you’ll be well ahead of the game.
That’s all you can really do to combat food inflation, and the same goes for clothing inflation. Get your house in order now.
Put it this way, Bill Simon, President of Walmart, said last week that a massive bout of inflation is headed our way, and Walmart’s business is in the crapper because even the po folk who shop at Wally every month have cut back dramatically. If you don’t listen and understand those words, have a nice time eating your hat, The Mayor hopes it’s delicious.