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re: What happened with that beef shortage?
Posted on 7/13/20 at 12:34 pm to LSUFanHouston
Posted on 7/13/20 at 12:34 pm to LSUFanHouston
quote:
Supply shortages (caused by shutdowns in production due to virus, and panic buying) caused prices to increase. Increased prices caused people to buy less, as well as incentive both new market participants, and shut-down facilities to quickly clean up and re-open. Result is more beef hits the shelves. At the moment, prices are still high because of pent-up demand. But eventually, supply will remain high, and people won't buy as much, which will cause suppliers to lower prices to find a buyer.
Or, people had to start cooking more at home instead of going out to eat, and started realizing beef isn't cheap anymore, went on facebook and spread their sob story about beef being expensive, and idiots took it from there.
This post was edited on 7/13/20 at 12:35 pm
2
Posted on 7/13/20 at 12:38 pm to TeddyPadillac
quote:
Or, people had to start cooking more at home instead of going out to eat, and started realizing beef isn't cheap anymore, went on facebook and spread their sob story about beef being expensive, and idiots took it from there.
Yep, it's a combination of all of the stuff noted already. It did start though with some media fear mongering stories and then I think around Memorial Day(or maybe earlier in the month) there were some awesome weather weekends and people were buying meat like crazy to grill. So year of course shelves were going to be empty.
Posted on 7/13/20 at 12:49 pm to TeddyPadillac
quote:
Or, people had to start cooking more at home instead of going out to eat, and started realizing beef isn't cheap anymore,
no the price of ground beef shot up almost double for some grinds. it happened overnight, too
what was once $4/lb became $7/lb +
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