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The Price of Bacon Has...

Chemicalkinetics Aug 24, 2010 12:52 PM

It has increased 75% (175% of previous price in recent months.

http://eatocracy.cnn.com/2010/08/24/l...

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  1. alkapal RE: Chemicalkinetics Aug 24, 2010 04:27 PM

    i've noticed the prices creeping up. but the sale prices are just as cheap as ever, and there is always one or the other brand on sale.

    1 Reply
    1. re: alkapal
      Chemicalkinetics RE: alkapal Aug 24, 2010 07:45 PM

      Yeah, for some reasons, I didn't notice the price increase, but then bacon is usually not the most expensive item I buy, so I probably won't notice it.

    2. ipsedixit RE: Chemicalkinetics Aug 24, 2010 04:56 PM

      Blame China!

      If the Communist Party mandated that every person in China eat one hot dog a day, pork futures would rival those of gold prices ...

      14 Replies
      1. re: ipsedixit
        Chemicalkinetics RE: ipsedixit Aug 24, 2010 07:41 PM

        :) Chinese already eat quiet a bit of pork. Now, when Chinese start to consume more beef, that is when we will notice some major price change.

        1. re: Chemicalkinetics
          coll RE: Chemicalkinetics Aug 28, 2010 02:14 AM

          From what I understand (from a major pork producer) all pork prices are based on futures, and this goes back to early last year, when swine flu was the big thing. Apparently it WAS the Chinese, they stopped buying our pork because of flu fears, so we stopped growing it, and now a year and a half later there is a smaller supply available. Which is usually why prices go up, last time it was chickens with the avian flu, and a few years back beef due to mad cow. But some commodity pork buyers stocked up knowing it was coming, and they're dumping it on the market right now, hence you can find certain brands on sale. I was warned about this six months ago, just before BBQ season started, so it's not as sudden as you think.

          Also eggs, which have been very cheap the last few months, are skyrocketing, due to the 5 million (or whatever) shortage. The whole west coast isn't going to stop eating eggs, they just get them from the east. Dairy in general is noticibly up, those prices get set in Chicago for the nation and I'm not sure what they're based on, only that butter is sky high and commodity cheese not far behind. I think we're spoiled because so many prices are subsidized by the government, and we think everything should be set in stone.

          1. re: coll
            alkapal RE: coll Aug 28, 2010 06:06 AM

            pork butt on sale this week at harris-teeter store here for 99 cents/#.

            1. re: alkapal
              coll RE: alkapal Aug 28, 2010 06:32 AM

              Whenever I see pork butt on sale for 89 or 99 cents, I grab it. The butcher knows, he says "Oh time for pulled pork again?" Like I said, some off brands still have cheap meat, I just wish I could get me some bacon for 99 cents like last year.

              1. re: coll
                alkapal RE: coll Aug 28, 2010 07:33 AM

                i hear that!

                i'm planning on using my slow cooker to make some pulled pork with that pork butt.

                i just saw a recipe on a blog that comes form the "bbq cheater's" cookbook, and it looked simple & good. http://thebittenword.typepad.com/theb... i know there are tons of discussions/recipes here on the 'hound, but sometimes i don't feel like weeding through some older, long threads, ya know?. i'm sure that i'll be tweaking the recipe, and tending toward a eastern carolina Q vibe.

              2. re: alkapal
                princesspoppycock RE: alkapal Oct 22, 2010 11:12 AM

                Bought one. Rubbed it with olive oil, crushed shallotts, crushed garlic, crushed ginger, sea salt, 21 season salute, YUUUMMMM.

              3. re: coll
                Chemicalkinetics RE: coll Aug 28, 2010 07:16 AM

                I don't see how the Chinese has that much impact to the recent bacon price increases.

                First, we see a huge bacon price increase, but not pork price increase. (According to that CNN article, the price of bacon is >200% of a year ago. Yet, the retail price for pork was $3.19 per pound in July 2010 and was $2.96 in July 2009.)

                Second, pork export is a small part of our total pork sale. In 2007, pork export made up 14% of the total pork production.

                Third, China is a small part of this export. In 2008, our pork export to mainland China is 8% of our total export and "China + Hong Kong" is 18%. Japan imports more pork from the US at 28%. Let's combine China and Hong Kong together, 18% of 14% is <3%. Less than 3% of our pork goes to China and Hong Kong.

                http://www.ers.usda.gov/Briefing/Hogs...

                1. re: Chemicalkinetics
                  coll RE: Chemicalkinetics Aug 28, 2010 12:35 PM

                  Oh there's definitely a pork price increase, ribs were wholesaling for $1.50 last summer and now are around $2 and going up fast. Bacon was cheap all winter, as cheap as it gets, and only in the last few weeks has it doubled. I don't know how they mark up retail meat, but I know my wholesale prices. Pork is mainly slaughtered in January, so that's when we see any major changes. China/swine flu had something to do with the lack of demand, I'll have to ask the person who knows better than me and get back to you on that.

                  1. re: coll
                    Chemicalkinetics RE: coll Aug 28, 2010 01:26 PM

                    :) You are right. The wholesale prices have went up for pork overall, but the retail prices are lagging and will probably go up. Bacon, however, is moving up faster than the rest of the pork products.

                    1. re: Chemicalkinetics
                      coll RE: Chemicalkinetics Aug 29, 2010 02:53 AM

                      I know retail chains lock in/contract prices rather far ahead on certain products, so that might explain it. We're eating our BLTs with no B lately ;-(

                      1. re: coll
                        Chemicalkinetics RE: coll Aug 29, 2010 07:12 AM

                        Really? Do you put in something else in replacement of bacon in your BLT? Maybe ham.

                        1. re: Chemicalkinetics
                          coll RE: Chemicalkinetics Aug 29, 2010 07:34 AM

                          Sometimes fried eggplant slices, but right now the tomatoes are so delicious that I can eat them by themselves on whole wheat, with just salt and pepper. Husband is happy adding mayo and swiss. However I just got back from grocery shopping and broke down and bought a lb anyway, I'm not THAT poor just yet.

                          1. re: coll
                            Chemicalkinetics RE: coll Aug 29, 2010 07:52 AM

                            :) I didn't think bacon is so expensive to the point that people stop eating them all together.

                            Anyhow, I had BLTA instead of BLT when I lived in California. In fact, I didn't know about BLT until later. Anyhow, A = Avacado. Maybe you can try using avacado instead of bacon and see what that tastes like:

                            http://www.10buckdinners.com/?p=1314

                            1. re: Chemicalkinetics
                              coll RE: Chemicalkinetics Aug 29, 2010 08:42 AM

                              You know, I like to put avocado on a sandwich, but the ones you get in California are so much better than what I get here. They are actually like butter, and spreadable. I'm going out there in two weeks and probably will eat too many, my sister has an avocado grove down the street....I also love them plain with just some soy sauce in the middle.

          2. mels RE: Chemicalkinetics Aug 25, 2010 12:39 PM

            Not shocking given its rise in popularity. I am very much over bacon chocolate, bacon doughnuts, etc.

            3 Replies
            1. re: mels
              Chemicalkinetics RE: mels Aug 25, 2010 02:51 PM

              But it rises so sharply in merely a few months (not over years).

              1. re: Chemicalkinetics
                princesspoppycock RE: Chemicalkinetics Oct 22, 2010 11:23 AM

                It's the "night club" scam. Create a long line outside and others will want in. Create high prices for an item leads people to believe there is a shortage or the price represents high quality. Humans can't stand the thought of not being able to have something, even if they don't need it.

                1. re: princesspoppycock
                  coll RE: princesspoppycock Oct 22, 2010 11:27 AM

                  There's not a shortage exactly, but they did grow less hogs this year based on last year's demand. So they are able to command a higher price as long as there are sales.

            2. PorkButt RE: Chemicalkinetics Aug 25, 2010 04:10 PM

              Futures contract for pork bellies are in sharp backwardation (the front month contract is more expensive than future months). I don't follow agriculture prices much, but the price for Sept bellies has gone up from around 100 in late July to a close at 144 today. Feb 2011 delivery costs only 105. Just about all food commodities are spiking. Sugar has been quite high for some time now and speculators have piled into wheat after reported problems in Russia, Canada, and Australia

              So there's strong demand for pork belly so companies that aren't big enough to afford to use hedging strategies to keep prices capped are taking a hit on input costs.

              1. m
                mangetoutoc RE: Chemicalkinetics Aug 28, 2010 01:18 AM

                So far, the price of my favorite Hungarian bacon has stayed put ... color me happy!

                1. dave_c RE: Chemicalkinetics Aug 30, 2010 10:20 AM

                  Lucked out this week... a good house brand bacon was on sale for $0.99. I purchased a couple extra for freezing.

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