Pork Prices Soar 15% Hormel Foods And Other Meat Plant’s Shutdown Hundreds Of Workers Down Video by Silver Report
There are warnings of meat shortages and possible hyperinflation on food. Several of the nation’s meat processing plants have been shut down including the largest pork processing plant in the US. Hormel Foods has been shut down in Illinois. New Rochelle produces spam which has actually been in high demand due to it’s long shelf life.
There are suggestions that the high demand and sharp decline in meat supply could lead to hyperinflation as the food prices have been rising sharply. Once inflation begins to rise the normal policy response is to raise interest rates but due to the fact the economy is entering the greatest depression in history that may not be possible.
Wholesale pork posted the biggest back-to-back gain in more than two years, rising 15% to 60.13 cents a pound. Last week, pork prices fell to the lowest since 2009, U.S. Department of Agriculture data show. Choice-grade beef prices climbed six straight days through Thursday, rising to $2.36 a pound, a one-month high. It’s true out situation is bad but it never had to get this far, if it had not been for the Federal reserve desperately pumping this relentless stock market bubble we would have so many more tools at our disposal to deal with the rising food inflation.