Steve Milloy over at JunkScience.com reminds
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My investor has been touching on the issue of bird flu hitting chickens
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INDIANAPOLIS (AP) — Indiana imposed a statewide ban Wednesday on moving poultry and other birds to events such as county fairs in hopes of preventing the spread of
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Chipotle Mexcican Grill recently made headlines by going “GMO Free” on certain ingredients. I believe this announcement was more of a marketing ploy against the news in their recent financial statements. I’m not a big investor of restaurants in this day and age of the Federal Reserve printing money at a high rate and American beef in demand world wide. (Some investment advice, put your money not in the restaurant but with the beef farmer) Chipotle is hiking prices again on its customers. Within a one year time period prices on certain items will have increased 11-13%.
This write up came from TheStreet.com a week before their GMO announcement –
Chipotle stands to receive another jolt to the top line from another round of price increases. The company, which has historically been reluctant to lift prices, confirmed it will hike prices on steak and barbacoa in the third quarter by 4% to 6% in order to compensate for persistent beef inflation.
In the second quarter last year, Chipotle implemented an across-the-board menu price increase of about 7%, as it dealt with beef, dairy and avocado inflation. Same-restaurant sales growth accelerated soon after the menu price increases went into effect — after rising by 13.1% in the first quarter of last year, same-restaurant sales increased averaged 17.7% in the remaining three quarters.
Via Indiana Economic Digest –
Elliott Farm sells at $16,200 per acre
Elliott Farm, located near Poseyville, recently sold its 69 acres at auction for $16,200 per acre, or $1,117,800 in total.The farm had been held by the Elliott Family since the early 1940s and was purchased by a local farmer who was represented by proxy. According to auctioneer Andrew Wilson, the price per acre is a record for this area
AustinHeraldDaily.com had an interesting article about $70,000 worth of bull semen being stolen in Minnesota. The fascinating aspect of it was the price of bull semen being sold on the market. Here is a snapshot of the pricing.
The canister was worth about $500, and the vials of semen were worth from $300 to $1,500 apiece.
H/T Washington Post
There are 76 wineries in the Hoosier state. Indiana produces 1.4 million gallons of wine a year, but it grows only 650 acres of grapes.
H/T TheStarPress.com
In January I blogged about hog numbers expanding. Now more expansion has happened within the state and nationally. That is good news on the supply side which hopefully equates to some lower prices.
Here is more from HoosierAgToday.com –
Indiana’s total hog and pig inventory on March 1 was estimated at 3.65 million head, up 300,000 head from a year ago, according to Greg Matli, State Statistician, of the USDA, NASS, Indiana Field Office.
United States inventory of all hogs and pigs on March 1, 2015 was 65.9 million head. This was up 7 percent from March 1, 2014, but down slightly from December 1, 2014. Breeding inventory, at 5.98 million head, was up 2 percent from last year, and up 1 percent from the previous quarter.
Via CNSNEWS.COM –
The average price of a pound of ground beef climbed to another record high in February, hitting $4.238 per pound, according to data released today by the Bureau of Labor Statistics (BLS).
In August 2014, the average price for a pound of all types of ground beef topped $4 for the first time, hitting $4.013, according to the BLS.
In September, the average price jumped to $4.096 per pound; in October, the average price climbed to $4.154 per pound; and in November, the average price climbed to $4.201 per pound.
In December, the price declined slightly to $4.156 per pound. In January 2015, ground beef hit $4.235 per pound and in February 2015, according to the latest data from the BLS, the price of ground beef hit the highest level ever recorded of $4.238.
A year ago, in February 2014, the average price for a pound of ground beef was $3.555 per pound. Since then, the average price has increased 19.2 percent in one year.
Five years ago, in February 2010, the average price of a pound of ground beef was $2.277, according to the BLS. The price has since climbed by $1.961 per pound, or an increase of 86.1 percent.
Read the rest here.
Hoosier Econ 